MONGINIS

MONGINIS

EXECUTIVE SUMMARY

The food sector is the growing sector in Goa, in terms of the life style and purchasing power of the customers the growth rate of the bakery and confectionary industry is good. One of this kind bakery which has been in the Goan market for quite some times is MONGINIS its brand name originated as a single Italian bakery at Mumbai,. It is run by New Millennium Bakers here are around 32 outlets currently in Goa. The study was carried for Monginis in order to conduct the market research to understand the customers of pastry shops.

The major learning derived from the company through the marketing department along with the overview of the company.

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INTRODUCTION

In recent years, breakthrough innovations have enabled retailers to capture new intelligence regarding trends and customer behaviors at the store level which ultimately has led to alter the experience of customer in each shop even though it is a same category shop. In order to make a comfort zone for customers it is very important to provide him with the same set of experience every time he visit a shop it may be of any area to bring about uniformity it is essential to identify the points of differentiation and ways to overcome it. A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so. Mohandas Karamchand Gandhi :- To identify elements which customers notice when he enter in monginis at different location To identify touch points those alters experience of a customer. To list down touch points that changes across the shops even if the demographics are same. To recognize points that motivates a sales person in store to work harder. To compare various aspects which leads to underperformance of sales person To find out solutions in order to bring about uniformity. :- To find out points which a customer consciously or unconsciously notice in different shops of monginis Research approach

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History
Monginis traces its roots back to its humble beginning, to a time when it was a favorite with the Europeans in Mumbai. Little excuse was needed for the Englishman to pick up a Monginis cake whenever there was an occasion in his family. A birthday, an anniversary, a wedding or even tea-time would not be complete without Monginis.

The shop, located in Mumbai's Fort area, was a favourite with Europeans. Run as it was by two Italian brothers, Monginis was a must at every celebration. Even then Monginis cakes, pastries and savouries were baked to perfection and were in great demand.

In the 1960s, Monginis was bought over by the Khorakiwala family and after that history was made. By 1971, the idea of having a nationwide franchise network and reaching out to customers in their neighborhoods was born.

Today:

The 42,000-sq-ft HACCP certified headquarters of Monginis is the place from where all the yummy stuff emerges from. It is the nationwide headquarters, to which all manufacturing and cake shop franchisees report. It is the fountainhead of ideas that are good enough to eat

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The Monginis headquarters is also a model bakery with state-of-the-art manufacturing facilities designed to produce a wide range of cakes, gateaux and pastries, tongue-tickling savouries and a variety of any-time snacks. Here quality assurance steps at each and every stage of the manufacturing process ensure world-class soft n fresh cakes, snacks and baker's ware.

Monginis headquarters has a well equipped lab and has gained the HAACP certification since past 2 years for maintaining and assuring best of the Hygiene and quality standards of our products and for our customers.

Recently, Monginis commissioned a factory at Bhiwandi near Mumbai admeasuring 6 lakhs sq.ft

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COMPANY PROFILE
Monginis Food Pvt. Ltd. opened its doors in India nearly 100 years ago. Mr Mongini, an Italian, started a bakery and catering services in India. First shop of Monginis located in Mumbais Fort area, and it was a favorite with the Europeans For years, Monginis cake brand has simply been making people happy and this is evident as today it stands as the no. 1 cake brand in India. Whatever flavor you choose, youll be treating yourself to a delicious classic. Monginis website for gifting and self consumption is a rapidly expanding e-commerce business. With nearly 5000 hits daily and huge army of Monginis fans on social media, the e- business is all set to go places. 10. Organization : Monginis Foods Pvt. Ltd. Brand : MONGINIS Category : Food & Beverages Franchisee Material Availability : Yes Director : Mr. Zoher Khorakiwala Business Started : 1958 Franchisee Started : 1971Department Structure Factory location : Off.Link Road, Opp.City Mall, Andheri(West), Mumbai 400 053 Factory Size

(Sq.meters): 30,000-50,000 square meters Number of Production Lines : 8 QA/QC: In House Number of QC Staff: 5 to 10 people Number of R&D Staff: 11 people QA/QC: and In House Finance Supply and Chain

AccountsDepartments:

Dispatch

Distribution

Management Maintenance and Engineering Marketing Sales Retail Audit Legal and Corporate Affairs Factory Administration Ecommerce and Internet Marketing Production Quality Control Purchase

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IDEAS AND INNOVATION

Ideas and innovations make it possible for the high-level excitement to be sustained in the brand. Pioneers of a fantastic Cross delivery System which connects 11 manufacturing Franchisees through an intricate network to simplify the means so that your beloveds can get a cake delivered in any part of India ordered from anywhere in the world. A helpline 022-40786702 attending to customers to assist to make any Celebration possible even at a short notice. An Interactive website which allows Online bookings of our products from all across the world to be delivered in parts of India, where we have a presence. Pioneers in the introducing Corporate cakes with Company Structures, logos and Products too.

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Monginis Vision
Vision

Core Purpose:To help people express their happiness in a memorable way.

Core Values:-

Good intentions in dealing with one another amongst the stakeholders (share holders, suppliers, employees, franchisees, dealers and consumers) breed (or yield) good products and services.

All our products and services shall be offered with the same love, care and affection as if, they were meant for the most beloved person (or a family member).

Brand Insight: There is a child hidden within each of us, who wants to give way to its feelings

Brand Expression: Expression of Happiness

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SOWT OF MONGINIS

Strengths of Monginis
1) Monginis Foods Pvt. Ltd. has been there for a long time

almost for 4 to 5 decades. 2) India. 3) Has acquired a name in the world of bakery, food processing It has good coverage; it has around 500 retail stores all over

and packaged foods industry. 4) It has recently started offering home delivery and online

booking and delivering system. 5) Prices of their products are quiet reasonable as compared to its

competitors.

Weakness of monginis
1) Monginis has fewer varieties in the range of cakes as

compared to its competitors. 2) There have been cases of lack of consistency in quality

because of Monginis being a franchise business. 3) Monginis is not promoting its products aggressively.

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4)

Being a franchise business it has limited control over the

location of the store. Hence some of its stores are not strategically located.

Opportunities of monginis
1) There is an opportunity for Monginis to make its presence felt

in the malls which now-a-days becoming a strategic location for such kind of products. 2) research. 3) More services can be added to boost sales further and make Getting more varieties in their product range by proper market

the brand name stronger in the mind of the customers. 4) NRIs, etc. 5) Getting in more customization options would be good for the Promoting the online system properly by targeting corporates,

customers. 6) Using the tag line What are you celebrating today? more

effectively.

Threats of monginis
1) Monginis has threat from its competitors such as Birdys, Hang

Out, Merwans, etc.

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2)

Cadburys and McDonalds are also a threat to it because they

are also positioning their products on the lines of celebration. 3) Mithai Mate is a latest venture in the world of online gifting

of sweets which is also a competitor to Monginis. 4) The franchise system of business can lead to sometimes misuse

of the brand name. It can also hamper the quality of the product and also the service offered by the employees at the store. Whether you want to enter the market with a new product, increase the market base of an existing product or give a unique offering to your customers, you need Market Research. With your target group becoming smarter day by day, and word of mouth becoming stronger through social networks, Market research caa become the one thing which helps you make the right decisions. Market Research provides the right direction such that your customer base is satisfied with you and you get to know which plans and features need to be adopted to retain or expand on the customer base.

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FEATURE
1) Which features / attributes do the customers value the most This method is increasingly being used by marketers to find out which features offered by their product matters most to the customers. Based on this analysis, companies can alter the features offered by their products such that they acquire more customers and retain their existing ones. A company can have multiple variants of the same product so as to create customer value. Thus each customer can have his own choice. This is the example used nowadays in FMCG, wherein, a simple product like soap is being offered in as many variations as possible to satisfy the end customer. Thus these products are targeting the customer value. 2) Ranking of each feature choose 1st, 2nd Another step in analyzing customer

value is, if given an option of 10, which ones will the consumer or 3rd. For example Youngsters will value the looks

of a product. Thus the same VIP bags which gives briefcases and travel bags will make carry bags which are smart in design because the youngsters values are different than older people. On the other hand, a couple who are traveling will want a larger suitcase. So on and so forth. This is how, by ranking each feature by its priority gives you ideas on different variants of products you can start thereby creating customer value. 3) Compare attributes and features with a competitor study or analysis, you need a frame of reference. In case of customer value analysis, your competitors be the perfect frame of reference. Along with your internal analysis, you should also analyse what features of benefits given by your competitor is attracting the customer. For example if one restaurant gives home delivery As in any

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free, it is saving on cost and at the same time it will have larger orders. Thus if you are a restaurant owner, you need to keep watch on all the restaurants in your locality to know what is it that attracts your customers to them? Although you do not need to copy the same benefit, you can however design an offer of your own which attracts the customers and makes them come back to your product. 4) Monitor features vs customer value over time Customer preferences can change with a change in time. Lets take the above VIP bags example. The youngster of today will become a working man of tomorrow. At that time, he might shoft to a more formal bag than the one he used to take to college. Thus his preferences have changed. However, these preferences are observed by the company. What if there is some unobserved shift / trend in the market which is not being noticed by anyone else. This happened in the PC market in 2010 wherein the shift from desktop PCs to laptops was sudden. Today most people prefer a laptop instead of desktops. Thus companies which did not make their move to laptops are suffering.Therefore, at any given point of time you should know what your customer values the most and also you need to keep a track of changing customer preferences such that you can offer them features and benefits according to the changing times. Ignore your customers, and you will never survive or take care of your customers and your business will thrive.

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Positioning by Cultural symbols

Culture plays a very important role in society today. In fact in democratic countries like India or USA, culture can vary in a matter of a few miles. Thus many brands as well as products have started positioning themselves depending on culture symbols and cultural values to set them apart from the competition. Take an example of matrimonial sites. Initially, the most used

matrimonial sites were those which provided match for all cultures. Slowly and surely, niche websites have come up allowing people to find matches in their own religion and culture. Thus the essential thing here is to present a product which matches the mentality of the audience and they are able to identify the product as their own. This product identification helps the product or the brand in

differentiating itself. Over the years, there have been several cult brands established only on the basis of culture. Harley Davidson is one such brand which showcases the cultural values of freedom and thus we see it working the best in USA which has been the symbol of a free nation over the years. Similarly Air India advertises with the use of the Maharaja as its symbol thereby associating itself with the Indian heritage. Each and every local brand tries to establish a strong tie with local cultural symbols. Thereby elevating its brand value from the

competition. Thus positioning can be done by associations with cultural values and symbols.

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Monginis service
The service marketing mix is also known as an extended marketing mix and is an integral part of a service blueprint design. The service marketing mix consists of 7 Ps as compared to the 4 Ps of a product marketing mix. Simply said, the service marketing mix assumes the service as a product itself. However it adds 3 more Ps which are required for optimum service delivery. The product marketing mix consists of the 4 Ps which are Product, Pricing, Promotions and Placement. These are discussed in my article on product marketing mix the 4 Ps. The extended service marketing mix places 3 further Ps which include People, Process and Physical evidence. All of these factors are necessary for optimum service delivery. Let us discuss the same in further detail.

Product The product in service marketing mix is intangible in

nature. Like physical products such as a soap or a detergent, service products cannot be measured. Tourism industry or the education industry can be an excellent example. At the same time service products are heterogenous, perishable and cannot be owned. The service product thus has to be designed with care. Generally service blue printing is done to define the service product. For example a restaurant blue print will be prepared before establishing a restaurant business. This service blue print defines exactly how the product (in this case the restaurant) is going to be.

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Place - Place in case of services determine where is the service

product going to be located. The best place to open up a petrol pump is on the highway or in the city. A place where there is minimum traffic is a wrong location to start a petrol pump. Similarly a software company will be better placed in a business hub with a lot of companies nearby rather than being placed in a town or rural area.

Promotion Promotions have become a critical factor in the service

marketing mix. Services are easy to be duplicated and hence it is generally the brand which sets a service apart from its counterpart. You will find a lot of banks and telecom companies promoting themselves rigorously. Why is that? It is because competition in this service sector is generally high and promotions is necessary to survive. Thus banks, IT companies, and dotcoms place themselves above the rest by advertising or promotions.

Pricing Pricing in case of services is rather more difficult than in

case of products. If you were a restaurant owner, you can price people only for the food you are serving. But then who will pay for the nice ambience you have built up for your customers? Who will pay for the band you have for music? Thus these elements have to be taken into consideration while costing. Generally service pricing involves taking into consideration labor, material cost and overhead costs. By adding a profit mark up you get your final service pricing. You can also read about pricing strategies. Here on we start towards the extended service marketing mix.

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People People is one of the elements of service marketing mix.

People define a service. If you have an IT company, your software engineers define you. If you have a restaurant, your chef and service staff defines you. If you are into banking, employees in your branch and their behavior towards customers defines you. In case of service marketing, people can make or break an organization. Thus many companies nowadays are involved into specially getting their staff trained in interpersonal skills and customer service with a focus towards customer satisfaction. In fact many companies have to undergo

accreditation to show that their staff is better than the rest. Definitely a USP in case of services.

Process Service process is the way in which a service is delivered

to the end customer. Lets take the example of two very good companies Mcdonalds and Fedex. Both the companies thrive on their quick service and the reason they can do that is their confidence on their processes. On top of it, the demand of these services is such that they have to deliver optimally without a loss in quality. Thus the process of a service company in delivering its product is of utmost importance. It is also a critical component in the service blueprint, wherein before establishing the service, the company defines exactly what should be the process of the service product reaching the end customer.

Physical Evidence The last element in the service marketing mix

is a very important element. As said before, services are intangible in nature. However, to create a better customer experience tangible elements are also delivered with the service. Take an example of a restaurant which has only chairs and tables and good food, or a restaurant which has ambient lighting, nice music along with good seating arrangement and this also serves good food. Which one will you prefer? The one with the nice ambience. Thats physical evidence. Several times, physical evidence is used as a
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differentiator in service marketing. Imagine a private hospital and a government hospital. A private hospital will have plush offices and well dressed staff. Same cannot be said for a government hospital. Thus physical evidence acts as a differentiator. This is the service marketing mix (7p) which is also known as the extended marketing mix. There are several ways to measure customer satisfaction. However, some methods are elementary and can be applied to any business format, be it a large corporate or a small and medium enterprise. As these measures can be carried out through internal analysis, they should be done as regularly as possible. This helps you keep yourself up to date of what your customer needs.

Periodic surveys Periodic surveys involves getting in touch with

your customers and taking feedback from them directly. There are various forms of periodic surveys such as online surveys, email surveys etc. You can even have a retail survey wherein you take feedback from your walk in customers. The benefit of a periodic survey is that you can get direct feedback from your customers and you can have an idea of where you stand in the customer satisfaction index (CSI).

Furthermore, by comparing the current CSI with the last one, you can also observe a change in your consumers preferences.

Customer loss rate

Customer loss rate is one measure which

can be done by the smallest of enterprises to measure customer satisfaction. There can be several reasons for loss of customers. Customer might not be satisfied by your product quality, logistics, service, wrong commitments or other such internal reasons.

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It can also be due to some changes in your own products, or due to a competitor launching a different product, your product going out of trend or more importantly, customers losing interest in your product. Further to the customer loss rate, you need to find out where your customers are going. Are they shifting over to a new brand, or have they have shifted to a completely different type of product. For example Surf excel buyers can shift to tide. And desktop computer buyers

can shift to Laptops. Thus in one case there is a brand shift whereas in another there is a product shift.

Mystery shoppers This method can be used for any type of

purchase. You have to act as a demo buyer and approach the competition or even your own product. This shows you how your product is being presented to the customer or how a competitors product is presented to their customers. Thus you can find out the differences in customer interaction and thereby determine whether the customer will leave with a positive experience or a soso experience. You want the customer to have as good an experience with your product as possible. For example In restaurants you have to make

sure that the waiters have excellent manners. In retail or electronic stores, you have to ensure that your salesmen have complete product knowledge and know how to handle a high value customer.

Monitor competitor performance Mystery shopping is one of

the ways to monitor competitor performance which can let you decide who has a better customer satisfaction. To best understand the role of monitoring your competitors and to measure customer satisfaction, let us take an example. Imagine a company with multiple product lines and length. This company will easily have 5 competitors per product. Thus, it cannot survive without knowing everything about the competitor.

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Only by knowing what the competitor is offering in the market, the company can retain its customers by offering products which have more USPs and are better in most of the aspects when compared to a competitor. Monitoring competitor performance needs a good marketing network as well as regular secondary research data. The above 4 steps can be carried out by any company and they are most necessary to be performed time to time to ensure that your customer is satisfied with your product / brand.

Monginis -a premier and popular destination for lovers and

connoisseurs of all varieties cakes, chocolates, pastries and cookies, with a commanding and distinguished presence in 12 cities around India and 2 in Egypt. Core Purposes : To help people express their happiness in a memorable way. Assist customers in conveying happiness to their loved ones in memorable and personalized ways. Core Values : All our products and services shall be offered with the same love, care and affection as if, they were meant for the most beloved person. Use the best ingredients, offer fresh bakery products, customized to suit personal tastes, with excellent standards of creativity, and delivered with the highest degree of timeliness and assurance of impeccable quality. Good intentions in dealing with stakeholders like Suppliers, Employees, Franchisees, Dealers and Consumers yield good products and services. Cherish, cooperation honour and respect, the goodwill and

given by stakeholders like Suppliers, Employees,

Franchisees, Dealers and Consumers.

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Monginis uses only the finest and freshest ingredients in its products, with insistence on quality control at every stage of production, packaging and delivery.

Monginis have specialized in and gained renown for custom made personalized products, which the client can order as per individual specifications and tastes, together with unique the hearts of messages, which touch the recipients.

Monginis expert staff of chefs, confectioners, and artist, strive for ongoing creativity and customer satisfaction - we create the dream gift which the client has conjectured in his or her mind.

Monginis is the Celebration King with virtually no popular or special occasion remaining outside its range. Clients have now become

habituated to celebrate with Monginis whether birthdays, anniversaries, weddings, engagements, Childrens Day, etc. Monginis outlets Cake Shops, are conveniently located, with a friendly ambience and helpful staff, whose motto is the complete satisfaction of the customers sweet wishes. Great ethics and services, have ensured that Monginis has spread its

wings across exclusive 521 outlets, using 1,25,000 sq. ft. of retail space, 20000 non exclusive dealers selling the brand, and a daily footfall of 75000 customers, in addition to the large organized retailers like Big Bazaar, More, Spencers, Dmart, Star Bazaar, Reliance.

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Monginis The name Guarantees. to hassle free services and blemishless

Clients have become accustomed products, which come with a

high degree of creativity and aesthetism. The prompt and efficient delivery service has been one of Monginis fortes and hallmarks. In a market environment where emphasis by many supplier s of goods and services is only on core products contracting of related ones, and sub

for Monginis, the timely and proper

delivery of the clients choices in perfect condition, has always been very much a vital part of the complete process aimed at blameless customer satisfaction. Monginis Gift Coupons and Corporate Gift initiatives have gained widespread credibility and acceptance. They are not only supremely convenient and easy to utilize, but are supported by Monginis core desire to provide creative and personalised mass produced, products, ( as opposed to is for a

assembly line manufactures) . Every gift

unique individual, for no two persons are ever the same. Monginis confectioners, chefs, and artists are always on the stand by to create

exclusive and artistic products, to the entire satisfaction of the client. Monginis concept of logocakes, artistic renderings of the company product or logo, have been warmly welcomed in the corporate world. Started in 1958 by the Khorakiwala family, Monginis flowered under the visionary genius of Husseini Khorakiwala in the 1970s. An

entrepreneur par excellence, he felt that progress ought to be a combined experience. He offered franchises to budding business persons who could operate their own enterprises, by employing the product and

service range offered by the mother company, Monginis. Excellent ethical standards and products, ensured that the move flourished.

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Today, Monginis franchisees are a happy and progressive part of the family. In the field of electronic marketing too, Monginis has not lagged behind. Instead , its portal , www.monginis.net is one of the

leaders in on line marketing and servicing, creating a valued niche for itself. The portal gives clients a convenient and safe option of sending

gifts to loved ones, or business associates, without the hassle of personal visits or payment Beside Cakes, Monginis hurdles. also serves snacks like puffs, bread rolls, for snack packs ideal for parties

pizzas, burgers and sandwiches through its exclusive cake shops. Monginis also dynamically caters and get-togethers. The list of satisfied and regular Monginis clients reads like a Whos Who of Commerce and Industry, Globally too, Monginis has created and a distinctive presence in Cairo

Alexandria in Egypt, with supplies reaching

neighboring Countries Monginis also expansion

like Libya, Yemen, Sudan in the African Continent.

caters to the prestigious UK market with active plans for to other European countries.

The company has 14 manufacturing plants producing oven fresh, mouth watering cakes consistently throughout the year. Of these, 3

plants are Company owned and the rest are owned and operated by the manufacturing franchisees.

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Monginis offers mouth watering, lip smacking, aesthetically

designed,

personalized cakes, pastries, chocolates, special seasonal confectioneries, cookies, snacks like puffs, bread rolls, pizzas, burgers and sandwiches , at its Cake Shops. Monginis is a popular option for bulk catering at parties, weddings, and other functions. Monginis Cakes come with imaginative and appealing names like Black Forest, and exotic Dutch Chocolate, Chocolate Marquise, White Forest, etc. flavours like Fruit of the Forest, Passion Fruit, Blueberry

and Walnut, Coffee and Hazel nut, etc. Monginis imaginative and delectable Theme Cakes, for exclusive and particular occasions like Independence Day, Mothers day, Hi /Hello

Cakes, etc. have well and truly caught the imagination of the public and customers. Behind the thriving and efficient operation of the trusted brand of

Monginis, is the guiding hand of its Chairman, Zoher Khorakiwala. Trained under the watchful eyes of his late dynamic and visionary father, Hussieni Khorakiwala, Zoher has been responsible for charting

fresh grounds and territories for the flagship brand, and carrying it not only to various parts of India but also the world. Retaining all the ethical values and laudable Zoher Khorakiwala has forged ahead with principles of the family, zeal, taking

entrepreneurial

the company well in to the objectives.

new millennium, with fresh insights and

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Customer Concept

The Customer concept is a 4 stage model which shows how the organization can achieve growth by capturing and retaining its customers. The customer concept model can be used to determine where the organization stands in terms of serving its customers. This model can be used in product market as well as the service market. Here are the four stages of the customer concept

1) Starting point Over here the customer is just an individual

who falls in a Target group. Thus the first thing which the organization needs is to know the Segmentation, Targeting and positioning. the customer has been defined its time to move to the next phase. 2) Focus In this stage, the organization needs to focus on the customers needs and wants as well as the value it provides for the customer. Once

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What is it that the customer exactly wants? . It is very important that the organization stays in sync with the continuous changes in the business world. Thus it needs time to time gap analysis as well as market surveys and research to focus on customers needs and wants. 3) Means What are the means available for the organization to deliver value to the customer? In this stage, it is very important for the organization to connect each and every function of the organization so as to form a Value Chain. The services should be connected to sales which in turn should be in sync with the manufacturing so on and so forth. You can refer the value chain to understand how customer value can be created in an organization. Along with this, integration of multiple sales channels is also important. 4) Ends Customer share, customer loyalty and customer lifetime value are three concepts which can define the customer equity of the organization. Thus this is the last stage of the customer concept wherein the organization has to ensure that it has kept its customers satisfied, that the organizations customers have become repeat customers and finally that they remain a customer for a lifetime.

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Major Factors affecting consumer buying behavior

Cultural factors affecting consumer buying Cultural factors

have a significant impact

behaviour:
on customer

behavior.Culture is the most basic cause of a persons wants and behavior. Growing up, children learn basic values, perception and wants from the family and other important groups. Marketers are always trying to spot cultural shifts which might point to new products that might be wanted by customers or to increased demand.

Social factors affecting consumer buying behaviour: A customers buying behavior is also influenced by social factors, such
as the groups to which the customer belongs and social status. Each culture contains sub-cultures groups of people with share values. Sub-cultures can include nationalities, religions, racial groups, or groups of people sharing the same geographical location. Sometimes a sub-culture will create a substantial and distinctive market segment of its own. For example, the youth culture or club culture has quite distinct values and buying characteristics from the much older gray generation

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Similarly, differences in social class can create customer groups. In fact, the official six social classes in the UK are widely used to profile and predict different customer behavior. In the UKs socioeconomic

classification scheme, social class is not just determined by income. It is measured as a combination of occupation, income, education, wealth and other variables Needs wants and demands are a part of basic marketing principles. Though they are 3 simple worlds, they hold a very complex meaning behind them along with a huge differentiation factor. In fact, A product can be differentiated on the basis of whether it satisfies a customers needs, wants or demands. Each of them is discussed in detail in this article

Needs -Human needs are the basic requirements and include food
clothing and shelter. Without these humans cannot survive. An extended part of needs today has become education and healthcare. Generally, the products which fall under the needs category of products do not require a push. Instead the customer buys it themselves. But in todays tough and competitive world, so many brands have come up with the same offering satisfying the needs of the customer, that even the needs category product has to be pushed in the customers mind. Example of needs category products / sectors Agriculture sector, Real Estate (land always appreciates), FMCG, etc.

Wants Wants are a step ahead of needs and are largely dependent
on the needs of humans themselves. For example, you need to take a bath. But i am sure you take baths with the best soaps. Thus Wants are not mandatory part of life.

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You DONT need a good smelling soap. But you will definitely use it because it is your want. In the above image, the baby needs milk but it WANTS candy Example of wants category products / sectors Hospitality industry, Electronics, Consumer Durables etc, FMCG, etc.

Demands You might want a BMW or a Mercedes for a car. You

might want to go for a cruise. But can you actually buy a BMW or go on a cruise? You can provided you have the ability to buy a BMW or go on a cruise. Thus a step ahead of wants is demands. When an individual wants something which is premium, but he also has the ability to buy it, then these wants are converted to demands. The basic difference between wants and demands is desire. A customer may desire something but he may not be able to fulfill his desire. Example of demands Cruises, BMWs, 5 star hotels etc. The needs wants and demands are a very important component of marketing because they help the marketer decide the products which he needs to offer in the market. Thus the flow is like this. What do your customers value in your product? This is a question asked by many people. If you know the answer, you are a very smart marketer. But surprisingly, simple though the question is, most people dont spend time answering it. Instead they keep looking at their own product and at their own organization rather than looking at their customers and asking this simple question What do my customers

value? There is a simple way to analyse customer value. This method is also known as Customer value analysis

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Why do we need to learn about consumer buying behavior? The simple answer is that no longer can we take the customers Consumer buying behavior determines for granted.

how our consumers decide to

buy our product and what are the various factors responsible for this decision? Out of 11000 new products introduced by 77 companies, only 56% are present after 5 years. Only 8% of new product concepts offered by 112 leading companies reached the market. Out of that 83% failed to meet marketing objectives. What we need to understand here is why consumers make the purchases that they make, what factors influence consumer purchases and changing factors in our society The central focus of marketing is the consumer. To devise good marketing plans, it is necessary to examine consumer behavioral attributes and needs, lifestyles, and purchase processes and then make proper marketing-mix decisions. The study of Consumer behavior includes the study of what they buy, why they buy, how they buy, when they buy, from where they buy, and how often they buy. An open-minded consumer-oriented approach is imperative in todays diverse global marketplace so a firm can identify and serve its target market, minimize dissatisfaction, and stay ahead of competitors. Final consumers purchase for personal, family, or household use.

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Monginis Clients
Few of Our valuable and prestigious clients :

1. Indian Railways

2. Titan industries

3. Wipro

4. Tata Group

5. GTL

6. Pantaloon Retail India Ltd.

7. TCS

8. Alkem Laboratories

9. Tata Teleservices

10. Aditya Birla Group

11. Patni Computers

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12. WNS

13. Glenmark Pharmaceuticals

14. Kores India Ltd.

15. MGL 16. CGSL Citi Group Services Ltd.

17. Big 92.5 FM

18. Erica Pharmaceuticals

19. Saifee Hospital

20. Mahindra inter trade

21. SAMSUNG electronics

22. LG ELECTRONICS

23. ICICI prudential life insurance

24. Life style international

25. Fashion Yatra

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COMPAN OVERVIEW

Todays reputed MONGINIS brand name originated as a single Italian bakery at Mumbai, Fort area, over a hundred years ago. The brand has grown remarkable in the form of huge successful MONGINIS cake shop franchise network, more than 440 Monginis cakes shops in 11 cities in India. MONGINIS follows the doughnut principle where by the customer remain the valued creamy centre around whose satisfaction of all activities revolves.

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CONCLUSION
This is best time for monginis to launch new variety of products there exist a strong demand in market for fruit flavor cakes which can be easily recognized by reading comments of customer in opens ended questions of questionnaire Some steps must be taken to solve plastic bag problems as it is creating embarrassing situation for sales persons to ask for charge of plastic carry bag. Monginis can use this opportunity to declare as a green supportive brand like Pepsi and others and communicate this message well by providing eco friendly bags. Monginis over a period of time has evolved as price leader of bakery industry i.e. any deflection in their pricing ultimately leads increase or decrease in pricing in both the ends of elite and local bakery company, hence it has a leverage of increasing price up to certain extend. Customer sales person stands to be the last hand to serve customer so their interface is of extreme importance, hence monginis should take care of their recruitment and training also a keen attention should be given to their compensation There exists a demand for promotion of website of monginis as most of customers are not aware of online purchase of cake.

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BIBLOGRAPHY

www.google.com ww.wikipidia,com www.monginis.net

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