MC Report Project
MC Report Project
MC Report Project
PREFACE
Mohan Meakin is the oldest liquor making company. Mohan Meakin Ltd. is producing Indian made foreign liquor (IMFL) as well as country made liquor. Liquor sales are largely driven by brand awareness and brand popularity. To build brand popularity companies firstly should have to get retailers to recommend the brande d user and position there brand in consumers mind. The brand plays a critical role in building t h e f o r t u n e s o f a company. Given that consumption patterns are more or less static. Companies need to make just few changes to hook a customer. But once hooked to its product volume are likely to be steady. Therefore adopting a, brand-push strategy may be a key success factor. The strength and penetration of the retailing network are the key suc cess factors. As there are curves on advertising liquor through other media,the companies depend almost completely on r e t a i l e r s a n d o t h e r agents. Consumer has their own choice; they prefer those brands by which they get satisfaction. In fact the customer continuously shows different buying behavior depending on what they are buying, with whom, when, where, and why they are buying. Presently they supply more of the Tamil Nadu, Karnataka, Maharashtra, and some region of Eastern and Western part of India.
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The market of Indian made foreign liquor is very hard and vast and also full of competition. All the firms engaged in this industry want to increase the sales of their brands.
This report is all about MOHAN MEAKIN BRAND MAINTENANCE STRATEGIES. We planned a report to provide a brief description about its branding techniques & its major competitors in world. We also tried to get consumers preferences about which brand they would like to buy and what are the attributes that contribute to buying decision of beverages. We all have tried our level best to fulfill all the requirements mentioned to you.
ACKNOWLEGEMENT
While team Sunil Bharti Mittal of Manegerial communication is solely responsible for the content in this project report. I would like to thank several people for their assistance. This includes first Mr. Soumen Mukherjee () under whose guidance we are able to complete our report project and who gave us such a privilege to visit the company and enhance our knowledge. Then I would like to thank opportunity to MOHAN MEAKIN LIMITED, which provided us a great successfully undergo our project in such a
prestigious organization. Then I would like to Thank Mr B.N. Varma (Regional Marketing Manager, Mohan Meakin Ltd) in whose r e g i o n w e h a v e d o n e o u r p r o j e c t . I a m e s p e c i a l l y t h a n k f ul t o M r L.R.Mehta(Human Resource Manager,Mohan Meakin Ltd) w h o provided us very helpful and friendly atmosphere at M o h a n M e a k i n . It is always said that if family does not support there children then they will be unable to walk even a single step. Same is the case with us. We are unable to move without the help of our faculty members(IMS Ghaziabad) and Director General IMS Ghaziabad.So we consider our work incomplete until we record our gratitude to them. Last but not least this project has become possible because of co-ordination between each and every member of our team.
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consumer by launching the new and modifying products and by maintaining their brand image, i.e. Brand Management.
TABLE OF CONTENTS
Preface Acknowledgement Objective Abstract Summary Description Research Methodology Finding and Analysis Recommendations Questionnaire Bibliography
2 4 5 7 8 9 30 33 37 39 42
ABSTRACT
This report is concerned about brand maintenance strategies by MohanMeakin. Ltd. In this report we also studied about weather the company is in a right direction or not, what is the product line, who are there competitors, who is winner of market and who is the loser. This report analyse from successful positioning of some of its brands in customers mind like Old Monk and Golden Eagle. In this report we have also analysed that company has not given its name to its alcoholic product but to the other products like cereals, juices, etc has name of MohanMeakin as product name.
SUMMARY
This report is concerned about brand maintenance strategies by MohanMeakin. Ltd. In this report we also studied about weather the company is in a right direction or not, what is the product line, who are there competitors, who is winner of market and who is the loser. We can easily analyse from this report that the company is successful in positioning some of its brands in customers mind like Old Monk and Golden Eagle. Even after successful positioning consumers are purchasing more of brands like McDowells and kingfisher. Brand name is also different for different product line. Company has not given its name to alcoholic product but other products like cereals, juices, etc has name of MohanMeakin as product name. At present company is not facing any financial setback. Everything is going smoothly. But as competition is at its peak in the market and competitors are making use of new technologies and taking help of media . MohanMeakin should innovate their marketing strategies.
DESCRIPTION
Both these firms E. Dyer & Co., and Meakin & Co. Ltd., continued doing business separately up till after the second decade of the 20th century. During the first World War (1914-18), when it was a big job to import beer, the two firms quenched the hugely increased thirst of India with superb beer at a rockbottom price. Vast quantities of Malted Barley were sent to Egypt, to help keep soldiers beer at a reasonable price. Following these successes, the two firms joined hands and started a new joint stock venture under the style of Dyer Meakin & Co.Ltd. Brewing was suspended at the Kasauli Brewery and a latest brewing and bottling plant was installed at conveniently placed Solan. Extensive malting at Kasauli were, however, continued in operation. There are few places on earth where the water is ideally suited to brewing. Solan is one. Those who fancy the hill-climb would like to see our famous springs high up on Karol Mountain, far from everything, a lovely lookout, with the source of crystal clear spring water that drew our pioneer to Solan. With the times, as modern scientific progress made it possible to augment production several times with the latest machinery, the unproductive centres were closed down one by one retaining distilleries at Kasauli and Lucknow and brewery at Solan (Simla Hills) ; all the three centres enormously expanded to meet any expected demand. During the World War II, Solan Beer played its valuable part by keeping the soldiers of the allied nations in perfect pep and cheer. After the War, all manufacturing plants at Solan, Kasauli and Lucknow were replaced by the new latest automatic ones. With these improvements in production plans we invite our patrons to compare our products with the best of their imported counterparts and choose the better Dyer Meakins. You see these are now nations own.
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In 1935 when Burma was dismembered from India the name of the Company with Indian assets and liabilities was changed to Dyer Meakin Breweries Ltd., from Dyer Meakin & Co. Ltd., and the assets and liabilities of Burma Brewery in Burma were separated. Thereafter the Companys name was changed from Dyer Meakin Breweries Ltd., to Mohan Meakin Breweries Ltd., w.e.f. 1.11.1966 and from 24.4.1980 the name was further changed to Mohan Meakin Ltd., and as such the Company is now known as Mohan Meakin Limited. All types of beer and prestigious brands of Indian made foreign spirit (IMFS) besides blended malt whiskies, rum, gin and vodka are manufactured and marketed. In addition to these, the company manufactures juices and canned products, corn flakes, wheat porridge, malt extract, glass bottles, mineral water, castings and other products.
employees. Employees are needed to follow the indication of these words as this represent the better and progressive work and work environment. Alsoc o m p a n y h a s g i v e n a s a y i n g s h o w i n g t h e v a l u e n e s s o f t i m e . T h e y h a v e described the word STAFF and TEAM which guide the working of employees. Meaning of STAFF from the view point of Mohan Meakin ltd.
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STAFF S Sincerity T Tact A - Awareness F Fact F Figure Meaning of TEAM from the view point of Mohan Meakin ltd. to work together by taking help from each other and by helping each other. The work which canbe done by team effort can hardly be achieved with such accuracy by personalefforts. TEAM T together E enthusiasm A - absolute loyalty M motivation They have provided their employees a key for success. In their view success is no far if we all move with dedication, discipline, determination. They move with keeping in mind the five Ds which guide their path and them to make a healthy an progressive work environment for a better future. D1- Determination D2 - Dedication D3 Discipline D4 Dress
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D5 Drill Mohan Meakin shows its employees the importance of time. As they say that time has equal importance as the money had and wastage of time is more the wastage of money, because if money has been lost it can be earned future but once if time has been wasted it will never return at any cost. So for optimum utilization of time Mohan Meakin ltd. always make its employees remember that: Yesterday is a cancelled cheque. Tomorrow is a promissory note. Today is ready cash, use it. According to Mohan Meakin product manufactured by them should be of such quality that is customer can derive maximum satisfaction of it. For this a great skill level and other necessary precautions are taken into consideration while manufacturing products. Mohan Meakin ltd .sell its products with this saying:
Our products are made with skill,Sold with pride, and Consume with satisfaction.
The Brewery Division The soul of the beer lies in the brewing process. And from careful selection of hops to germination of wheat, the same age-old tradition is maintained. Its priceless wealth is justifiably its heritage.Pioneers of beer in India, Mohan Meakin are masters in the art of brewing.The brewery units sprawling over numerous locations, are indeed a sight to marvel.The technology and stringent quality control synonyms with concern of customer satisfaction. On par with global brands Mohan Meakin labels heralds rich aroma and taste. As extremely invigorating beverages, they are highly favoured by connoisseurs and occasional drinkers alike. The Spirit Division Mohan Meakin has favourably converted its glorious legacy into valuable experience as a base. Amply reflected in its status as the nations premier liquor company. With multi location units, impressive integration process and skilled workforce, it has grown with tremendous strength. A good beginning is a job half done. Mohan Meakin spirits and blends have withstood the test of time. Secure as leaders, the groups commitment to excel ensures quality and importantly customer satisfaction. Spirits are extracted, even today, through the acclaimed Scottish Pot-Still method. Left to mature in Oakwood casks, some of many years, the spirits when retrieved are exceptional in both character and bouquet. The R&D section oversees the upkeep of the high technological standards of the company manned by highly qualified and experienced technical personal Mohan Meakins craftsmanship has no parallel in India.
The Food Division The food division is one of the success stories of the group. The vast range of its produce satisfies myriad tastes, and has indeed carved a niche in million Indian homes for generations. Stringently processed to capture the essence and flavour, together with rigid quality control, they are highly flavoured and indispensable the world over. As a matter of fact, certain products like Mohans Cornflakes and Mohans gold coin apple juice are generic to their category.
Product Line
The Mohan Meakin ltd has a very wide line. It mainly producers alcoholic products like beer, whiskey, rum, gin, scotch, and vodka e t c . i n t h e s e categories it produces different flavours and brands. The above alcoholic cum under the category of foreign liquor and are known as Indian made foreign liquor. Beside foreign liquor the company also produces country liquor. In country liquor its most popular is Kohinoor this brand has made a faster growth in terms of sales and market penetration. Also it produces non-alcoholic products such a juice, vinegar, mineral water extract, cornflex, etc. in different shapes and size.
Alcoholic Products
Whiskies 1.Summer Hall Beers 1.Golden Eagle Lager
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2.Colonel's Special 3.Golden Eagle 4.Top Brass 5.Diplomat Deluxe 6.Black Knight 7.Solan No.1 8.Cellar 117 9.MMB 10.Blue Bull Brandies 1.Triple Crown 2.Doctor's Reserve No.1 3.D.M. 4.MMB Gins 1.Big Ben London (Export
2.Golden Eagle Deluxe Premium Lager 3.Gold Lager Beer (Herbal Beer) 4.Golden Eagle Super Strong Beer 5.Gymkhan a Premium Lager 6.Asia 72 Extra Strong Lager 7.Black Knight Super Strong 8.Solan No.1 Premium Beer 9.I Q Beer
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Quality)
10.Lion Beer 11.Meakins 10000 Super Strong 12.Old Monk Super Strong Rums 1.Old Monk Supreme Rum 2.Old Monk Gold Reserve Rum 3.Old Monk XXX Rum 4.Old Monk Deluxe XXX Rum 5.Old Monk White Rum
Non-Alcoholic Products
Juices 1.Mohun's Mineral Water
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Gold Coin Apple Juice Vinegars 1.Mohun's Brewed Vinegar 2.Mohun's Non-Fruit Vinegar
1.Golden Eagle Mineral Water 2.Mohun's Mineral Water Breakfast Foods 1.Mohun's New Life Corn Flakes 2.Mohun's Wheat Porridge 3.Mohun's Wheat Flakes 4.Mohun's Wheat Dalia
SWOT Analysis
Strengths:
1. The Mohan Meakin Company is the largest service providers and using best technology available in the market.
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2. Company operates in major cities of India and also p r o v i d e s i n a n i t y service. 3. It holds good market share. 4. It has large market share in all group of society. 5. Most of people think positively about it. 6. Company holds a high percentage of brand loyalty. 7 . I t h a s w e l l q u a l i f i e d s t a f f w h i c h p r o p er a t t e n t i o n t o w a r d s t h e n e e d o f consumer. 8. Dedicated and well trained work force. 9. Constantly striving to explore new overseas market. 10. Comprehensive research and development programme which help in productive improvement. 11. Extensive market research through research agencies. 12. Long-lasting goodwill of the company.
Weaknesses:
1. They do not have market share in the under graduate segment. 2. People are not aware about its all products. 3. High cost for label and monitoring item.
Opportunities:
1.Through improvement and meeting customer p r o b l e m p r o m p t l y company can gain. 2 . S u p e r i o r i t y i n f i e l d o f l i q u o r m ar k e t . 3. Fast response of complaint and product development.
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Threats:
1. Increase competition from MNC. 2. Company is facing its main threats from government rules and regulation.
COMPETITORS
Todays world is the competition. In every field there is competition and the success of any company or product largely d e p e n d s u p o n competition. Competition provides a good quality of product to the customer. If a c o m p a n y h a s t o s u r v i v e i n t h e m a r k e t , t h e n i t h a s t o f a c e t hr o u g h o u t c o m p e t i t i o n . In liquor industry too the competition is there. T h e increasing awareness and exposure to beer among consumers and the removal of quantitative restrictions gives big boost to the beer industry. I t s a w t h e e m e r g e n c e o f n e w c o m p a n i e s l i k e f u t ur e w i n e a n d s p i r i t brand (P) Ltd (FWSB), set up recently by two Non-Resident Indians(NRIs) from USA. BEER consumption in the country increased 79% per year.
T h e m a j o r c o m p e t i t o r s of M o h a n M e a k i n s L t d . & t h e i r m a i n Products are : 1. SAB Hayward 5000 Hayward 2000 Hayward Black Royal Challenge Knock out Castle lager Foster 2 . U B g r o u p Kingfisher Premium San Meghan London Lilsnex 3 . C O B R A Kind cobra Cobra bite Cobra 5% premium Cobra light miller
BRAND MANAGEMENT
Brand management is the application of marketing techniques to a specific product, product line, or brand. Brands are different from products in a way that brands are what the consumers buy, while products are what concern/companies make. Brand is an accumulation of emotional and functional associations. Brand is a promise that the product will perform as per customers expectations. It shapes customers expectations about the product. Brands usually have a trademark which protects them from use by others. A brand gives particular information about the organization, good or service, differentiating it from others in marketplace. Brand carries an assurance about the characteristics that make the product or service unique. A strong brand is a means of making people aware of what the company represents and what are its offerings. To a consumer, brand means and signifies: Source of product Delegating responsibility to the manufacturer of product Lower risk Less search cost Quality symbol Deal or pact with the product manufacturer Symbolic device Brands simplify consumers purchase decision. Over a period of time, consumers discover the brands which satisfy their need. If the consumers recognize a particular brand and have knowledge about it, they make quick purchase decision and save lot of time. Also, they save search costs for product. Consumers remain committed and loyal
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to a brand as long as they believe and have an implicit understanding that the brand will continue meeting their expectations and perform in the desired manner consistently. As long as the consumers get benefits and satisfaction from consumption of the product, they will more likely continue to buy that brand. Brands also play a crucial role in signifying certain product features to consumers. To a seller, brand means and signifies: Basis of competitive advantage Way of bestowing products with unique associations Way of identification to easy handling Way of legal protection of products unique traits/features Sign of quality to satisfied customer Means of financial returns
A brand, in short, can be defined as a sellers promise to provide consistently a unique set of characteristics, advantages, and services to the buyers/consumers. It is a name, term, sign, symbol or a combination of all these planned to differentiate the goods/services of one seller or group of sellers from those of competitors. Some examples of well known brands are Mc Donalds, Mercedes-Benz, Sony, Coca Cola, Kingfisher, etc. A brand connects the four crucial elements of an enterprisecustomers, employees, management and shareholders. Brand is nothing but an assortment of memories in customers mind. Brand represents values, ideas and even personality. It is a set of functional, emotional and rational associations and benefits which have occupied target markets mind. Associations are nothing but the images and symbols associated with the brand or brand benefit.
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Brand Attributes:Brand Attributes portray a companys brand characteristics. They signify the basic nature of brand. Brand attributes are a bundle of features that highlight the physical and personality aspects of the brand. Attributes are developed through images, actions, or presumptions. Brand attributes help in creating brand identity. A strong brand must have following attributes:
Relevancy- A strong brand must be relevant. It must meet peoples expectations and should perform the way they want it to. A good job must be done to persuade consumers to buy the product; else inspite of your product being unique, people will not buy it.Consistency- A consistent brand signifies what the brand stands for and builds customers trust in brand. A consistent brand is where the company communicates message in a way that does not deviate from the core brand proposition. Proper positioning- A strong brand should be positioned so that it makes a place in target audience mind and they prefer it over other brands. Sustainable- A strong brand makes a business competitive. A sustainable brand drives an organization towards innovation and success Credibility- A strong brand should do what it promises. The way you communicate your brand to the audience/ customers should be realistic. It should not fail to deliver what it promises. Do not exaggerate as customers want to believe in the promises you make to them. Inspirational- A strong brand should transcend/ inspire the category it is famous for. For example- Nike transcendent Jersey Polo Shirt.
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Uniqueness- A strong brand should be different and unique. It should set you apart from other competitors in market. Appealing- A strong brand should be attractive. Customers should be attracted by the promise you make and by the value you deliver.
Brand Positioning:Brand positioning refers to target consumers reason to buy your brand in preference to others. It is ensures that all brand activity has a common aim; is guided, directed and delivered by the brands benefits/reasons to buy; and it focusses at all points of contact with the consumer. Brand Positioning can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customers mind. For instance-Kotak Mahindra positions itself in the customers mind as one entity- Kotak - which can provide customized and one-stop solution for all their financial services needs. It has an unaided top of mind recall. It intends to stay with the proposition of Think Investments, Think Kotak. The positioning you choose for your brand will be influenced by the competitive stance you want to adopt. Brand Positioning involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image. Brand Positioning is the key of marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and its similarity with the competitive brands, as well as the reasons for buying and using that specific brand. Positioning is the base for developing and increasing the required knowledge and perceptions of the customers. It is the single feature that sets your service apart from
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your competitors. For instance- Kingfisher stands for youth and excitement. It represents brand in full flight. There are various positioning errors, such as:
Under positioning- This is a scenario in which the customers have a blurred and unclear idea of the brand. Over positioning- This is a scenario in which the customers have too limited a awareness of the brand. Confused positioning- This is a scenario in which the customers have a confused opinion of the brand. Double Positioning- This is a scenario in which customers do not accept the claims of a brand.
Brand Identity:Brand identity is a bundle of mental and functional associations with the brand. Associations are not reasons-to-buy but provide familiarity and differentiation thats not replicable getting it. These associations can include signature tune (for example - Britannia ting-ting-ta-ding), trademark colours (for example - Blue colour with Pepsi), logo (for example - Nike), tagline (for example - Apples tagline is Think different),etc. Brand identity is the total proposal/promise that an organization makes to consumers. The brand can be perceived as a product, a personality, a set of values, and a position it occupies in consumers minds. Brand identity is all that an organization wants the brand to be considered as. It is a feature linked with a specific company, product, service or individual. It is a way of externally expressing a brand to the world. Brand identity is the noticeable elements of a brand (for instance Trademark colour, logo, name, and symbol) that identify and
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differentiates a brand in target audience mind. It is a crucial means to grow your companys brand. Brand identity is the aggregation of what all you (i.e. an organization) do. It is an organizations mission, personality, promise to the consumers and competitive advantages. It includes the thinking, feelings and expectations of the target market/consumers. It is a means of identifying and distinguishing an organization from another. An organization having unique brand identity have improved brand awareness, motivated team of employees who feel proud working in a well branded organization, active buyers, and corporate style. Brand identity leads to brand loyalty, brand preference, high credibility, good prices and good financial returns. It helps the organization to express to the customers and the target market the kind of organization it is. It assures the customers again that you are who you say you are. It establishes an immediate connection between the organization and consumers. Brand identity should be sustainable. It is crucial so that the consumers instantly correlate with your product/service. Brand identity should be futuristic, i.e, it should reveal the associations aspired for the brand. It should reflect the durable qualities of a brand. Brand identity is a basic means of consumer recognition and represents the brands distinction from its competitors.
SYMBOLS- Symbols help customers memorize organizations products and services. They help us correlate positive attributes that bring us closer and make it convenient for us to purchase those products and services. Symbols emphasize our brand expectations and shape corporate images. Symbols become a key component of brand equity and help in differentiating the brand characteristics. Symbols are easier to memorize than the
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brand names as they are visual images. These can include logos, people, geometric shapes, cartoon images, anything. For instance, Marlboro has its famous cowboy, Pillsbury has its Poppins Fresh doughboy, Duracell has its bunny rabbit, Mc Donald has Ronald, Fed Ex has an arrow, and Nikes swoosh. All these symbols help us remember the brands associated with them. Brand symbols are strong means to attract attention and enhance brand personalities by making customers like them. It is feasible to learn the relationship between symbol and brand if the symbol is reflective/representative of the brand. For instance, the symbol of LG symbolizes the world, future, youth, humanity, and technology. Also, it represents LGs efforts to keep close relationships with their customers. LOGOS- A logo is a unique graphic or symbol that represents a company, product, service, or other entity. It represents an organization very well and makes the customers wellacquainted with the company. It is due to logo that customers form an image for the product/service in mind. Adidass Three Stripes is a famous brand identified by its corporate logo.
Logotype - It can be a simple or expanded name. Examples of logotypes including only the name are Kelloggs, Hyatt, etc. Icon - It is a name or visual symbol that communicates a market position. For example-LIC hands, UTI kalash. Slogan - It is best way of conveying companys message to the consumers. For instance- Nikes slogan Just Do It. TRADEMARKS- Trademark is a unique symbol, design, or any form of identification that helps people recognize a brand.
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A renowned brand has a popular trademark and that helps consumers purchase quality products. Brand Awareness:Brand awareness is the probability that consumers are familiar about the life and availability of the product. It is the degree to which consumers precisely associate the brand with the specific product. It is measured as ratio of niche market that has former knowledge of brand. Brand awareness includes both brand recognition as well as brand recall. Brand recognition is the ability of consumer to recognize prior knowledge of brand when they are asked questions about that brand or when they are shown that specific brand, i.e., the consumers can clearly differentiate the brand as having being earlier noticed or heard. While brand recall is the potential of customer to recover a brand from his memory when given the product class/category, needs satisfied by that category or buying scenario as a signal. In other words, it refers that consumers should correctly recover brand from the memory when given a clue or he can recall the specific brand when the product category is mentioned. It is generally easier to recognize a brand rather than recall it from the memory. Brand awareness is improved to the extent to which brand names are selected that is simple and easy to pronounce or spell; known and expressive; and unique as well as distinct. For instance - Coca Cola has come to be known as Coke. There are two types of brand awareness:
Aided awareness- This means that on mentioning the product category, the customers recognize your brand from the lists of brands shown.
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Top of mind awareness (Immediate brand recall) - This means that on mentioning the product category, the first brand that customer recalls from his mind is your brand.
Building brand awareness is essential for building brand equity. It includes use of various renowned channels of promotion such as advertising, word of mouth publicity, social media like blogs, sponsorships, launching events, etc. To create brand awareness, it is important to create reliable brand image, slogans and taglines. The brand message to be communicated should also be consistent. Strong brand awareness leads to high sales and high market share. Brand awareness can be regarded as a means through which consumers become acquainted and familiar with a brand and recognize that brand.
Brand Equity:Brand Equity is the value and strength of the Brand that decides its worth. It can also be defined as the differential impact of brand knowledge on consumers response to the Brand Marketing. Brand Equity exists as a function of consumer choice in the market place. The concept of Brand Equity comes into existence when consumer makes a choice of a product or a service. It occurs when the consumer is familiar with the brand and holds some favourable positive strong and distinctive brand associations in the memory. Brand orientation:Brand orientation is a deliberate approach to working with brands, both internally and externally. A products superiority is in itself no longer sufficient to guarantee its success. Brand orientation refers to
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"the degree to which the organization values brands and its practices are oriented towards building brand capabilities. Brand implementation:Brand implementation refers to the physical representation and consistent application of brand identity across visual and verbal identity carriers. Brand implementation encompasses facets of architecture, product design, industrial design, quantity surveying, engineering, procurement, project management and retail design. Brand implementation means the continuous and consistent application of the brand's image in all business units, all communication channels and all media - thus adapting to the ongoing changes within markets, stakeholders, technologies and socio cultural environments. This refers to marketing and branding as a unified whole. In that respect, brand implementation must be seen as a continuous process, one which will require controlling the brand's image and presence in the face of changing requirements from the markets or one's own company structure.
RESEARCH METHDOLOGY
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Research is common parlance refers t o a s e a r c h f o r knowledge. The Advanced Learners Dictionary of Current English l a y s d o w n t h e m e a n i n g o f r e s e a r c h a s A careful investigation or inquiry especially through search for new facts in any branch of knowledge. Research MethodologyI t i s the way to systematica lly solve the research problem. It may be understood as a science of studying how research is done scientifically. In it we study the various steps that are generally adopted by a researcher in studying his research problem along with the logic behind them. Types of research Design:1. Descriptive Research Design Descriptive research studies are t h o s e s t u d i e s w h i c h a r e c o n c e r n e d w i t h d e s c r i b i n g t h e characteristics of a particular individual, or of a group.
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Hypothesis Research Design Hypothesis t e s t i n g r e s e a r c h studies (generally known as experimenta l studies)a rethosewhere researcher tests the hypotheses of causal relationship between variables. Exploratory Research Design It is also termed as formulative Research studies. The main purpos e of such studies is that of formulating a problem for more precise investigation or of developing the workinghyp othesis from and operational point of view the major emphasis i n such studies is on the discovery of idea andinsights. As such t he research design appropriate for suchstudies m u s t b e f l e x i
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b l e e n o u g h t o p r o v i d e o p p o r t u n i t y f o r considering different aspects of problem under studies. SamplingSampling may be defined as the selection of some part of an aggregate or totality on the basis of which a judgement about he aggregate is made. In other words, process of obtaining information about an entire population by examining only apart of it. In most of the research. Types of sampling: Systematic Sampling- The most practical way of sampling is to select every ith item on a list. This kind of sampling known as systematic sampling.
Stratified Sampling- If a population from which a sample is to be drawn does not constitute a homogeneous group, stratified sampling technique is applied in order to obtain representative sample. Cluster Sampling- If the total area of interest happens to be big one, a convenient way in which is sample can be taken is to be divided into smaller non o v e r l a p p i n g a r e a s c a l l e d c l u s t e r known as cluster sampling. Non probability sampling- In case of non probability sampling it is considered appropriate to use a random selection process where the probability of each cluster being included in the sample is proportional to size of the cluster.
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VARIOUS PARAMETER USED IN RESEARCH Research Design Descriptive Data Source Primary & Secondary data Research Instrument Questionnaire Types of Questionnaire
Distribution Channel:Alcoholic product is excisable items controlled by the government channel. Member of distribution of the company also work under the rules regulation of govern ment. It is necessary and compulsory for channel member to take the license from the government to perform their functions. Government give following type of licenses:FL-I is the manufacture wholesale license. FL-II is the semi whole seller or distributor license. FL-III is the bottling license given to the production unit. FL-V is given to the production unit. B-I is the brewery license. FI-VII is given to the bars. Here FL refers to the foreign liquor. B refers to the Brewery. Above mentioned licenses are for UP only. In Delhi market of liquor is controlled by government, market excise is supreme government invitees tender from different parties for the distribution of liquor. Mohanmeakin follows the local distribution pattern like each state covers there part by own. With the help of such type of channel the company is able to control cost because there will be no transportation charges in such channels. States with maximum sale of MML Brand: Tamil nadu Karnataka Maharashtra Andhra Pradesh
Findings based on questionnaire designed for consumers We had conducted customer survey with the help of surveymonkey.com. Our objective of survey is to determine the brand awareness of mohanmeakin between consumers. After conducting the survey there are various facts and figure which came into the picture. Respondents to survey include 73.5% of male and rest 26.5% are female. The majority of age group is between 21 29. Based on our survey around 55.9% consumers know about Mohanmeakin very well. According to them it is a renowned company. Apart from its alcoholic product consumers are also aware about other products like:- juices, cornflakes, etc. Among all these products 60.9% consumers are consuming apple juices. So we can easily conclude that consumers are aware about mohanmeakin , its alcoholic products, & other diversified products. There are a lot of findings which are obtained from the analysis of data collection which is given below in sequence:
There is fine sale of the soda of Mohan Meakin Ltd in this market area.
There is less effort by the company in the field of advertisements to increase the sale of soda.
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The research said that the home company is only emphasizing in its some particulars brands as Old Monk Rum not for all of the brands. Customers normally are not satisfied with this brands of MohanMeakins . They prefer to take other brand of soda. Only the Rum is the most demanding during the winter season. Since 50% of consumers know about the whole brands of Mohan Meakins products. It means that there is some little problem in the advertising strategy of company. As its the era of completion and technology the company must come up wth some innovations and new strategies.
Recommendations
On the basis of findings and current market scenario on the behalf of my side there may be following recommendation, which may be favourable to the soda industry and specifically to the Mohan meakin company in all terms:
Educate the customers about the awareness of all brands of MohanMeakins and the alcoholic content in it. It really help in achieving good amount of market share, if only the awareness level is increased. Price of brand should be reduced by 2 to 5 Rs. As compared to other competitors brand. Emphasis should be given to the easy availability of all brands in this market.
Company should sponsor some of the programs on channel like MTV and channel V because the youth generally watch programs on these channels. Use advertising media like electronic media , print media and other media to increase the sale of soda.
LIMITATIONS
Time duration was short.
A large sample could not be taken and systematic probability was not conducted due to lake of time. During the course of survey some unfavourable errors are faced such as no response, inaccuracy in response etc.
INTERVIEW QUESTIONS
1. What is the core product of company? 2. Acc. To you who are the competitors of mohanmeakin? 3. What differentiate your brand name with other brands i.e. the core competency? 4. What is the target market for your product? 5. What about the other products of company.? Are they doing well in the market? 6. How do you manage your brand? 7. What are the strategies used by your company for maintaining brand? 8. How important it is for the company to manage the brand? 9. How do customers perceive your brand? 10.Do company have hardcore loyal customers or not? 11. Is company also planning for any other product? 12.What are the key efforts being taken to build and position your brand name? 13.According to you, how much effective is your brand?
14. Are
you satisfied with this brand? If no, then do you think to rebuild the
brand name of your product? 15.Is there any tagline for your product?
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16.
It has been said that customers buy brands and not products, so what are the core values and benefits that a customer gets from your brand?
17.How branding changes every thing? 18.Do your company has taken the help of any type of promotion for your products? Yes or No. Give reason.
Yes No Yes
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b)
No
Q5 You take liquor in the form of a) Beer b)Whisky c) Rum d)Wine Q6 Which brand do u prefer a) Golden eagle b)Old monk c) Black knight d)Red label e) Others Q7 How often do u consume a) Once in a week b)3-4 times c) Everyday d)Occasionally Q8 Competitor of mohans a) United breweries b)SAB millers c) Cobra
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Q9 What other than beer, do u consume a) Apple juice b)Cornflakes c) Porridge d)Vinegar
BIBLIOGRAPHY:
Dr. D.D. Sharma , Marketing research. Rajendra Nargundkar:-Marketing research.
www.google.com/mohanmeakin www.surveymonkey.com