2ND PROGRESS REPORT

Name: Sonu Kumar Sah

Roll No.: 22202161

Name of the company: Munico Foods

Name of the business unit/ entity/ department with location: Munico Foods,
Berhampur (Marketing Department)
Faculty guide: Prof. Ashutosh Kar
Corporate guide: Satya Brath Muni
Topic: By Conducting a market survey for FMCG Products, identifying the 4P
marketing strategy and channel strategy for the top 3 players, and
recommending an execution plan and budget for Munico
products in Bhubaneswar and Jamshedpur.

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 Introduction

Munico Foods Pvt. Ltd. was established on 8th February 2022 as a privately held enterprise.
It is a non-governmental organization that is officially recognized by Cuttack's Registrar of
Companies. The company has an authorized share capital of Rs. 15 lakh and its paid-up
capital stands at Rs. 10 Lakh. Munico Foods specializes in the production, processing, and
preservation of pickles, papad, sauce & food supplements category.

• The Munico family comprises over 1000 members, encompassing farmers, rural
entrepreneurs, rural women, retailers, traders, and other individuals.
• Munico Foods is dedicated to promoting gender equality and empowering women
within its value chain. The company actively employs, trains, and inspires women to
participate in various roles, including workers, entrepreneurs, managers, and more.
• Munico Foods takes pride in sourcing its raw materials in the most ethical manner,
directly from farmers.
• Munico Foods takes pride in creating products that are not only delicious but also
nutritious and accessible to all. By blending superfoods such as moringa, sprouted
moong, daily millet, and more, Munico Foods crafts items like papad, chat powder,
and others that offer enhanced health benefits.

Vision:- Munico Foods is committed to building a sustainable value chain that supports the
production of quality food by farmers and rural entrepreneurs. The company recognizes the
vital role of farmers and rural entrepreneurs in the food ecosystem and aims to create a
mutually beneficial relationship with them.

Mission:- Munico Foods is dedicated to linking over 10,000 farmers and rural
entrepreneurs to both online and offline markets for the sales of their food products. By
facilitating this connection, Munico Foods aims to create new opportunities for these
stakeholders and promote their products to a wider consumer base.

Goal:- Munico Foods goal is to create a positive impact on the lives of farmers, rural
entrepreneurs, and consumers while establishing itself as a trusted and sustainable global
food brand rooted in rural Odisha.

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Values:-

• "Amrutasya Bhojanam": Create wholesome and delicious food products.

• cultivate enduring connections with rural community
• Create a strong value chain to make sure that people have access to healthy food.
• empower rural Odisha by creating jobs and improving food processing skills.

Products

➢ Health food range:- Munico Foods offers a range of health food products that are
designed to promote a nutritious and wholesome diet. Some examples of their healthy
food offerings include:
• Sprouted moong powder, Sprouted ragi powder, Nutrizen mix, Meal
replacement mix, and Superfood mix.

➢ Immunity booster papad:- Munico Foods offers an immunity booster papad range
that includes various flavors and ingredients known for their immune-boosting
properties. Some examples of their immunity booster papads are:
• Moringa papad, Oyster mushroom papad, Jackfruit papad, Garlic papad, Ragi
papad.

➢ Berhampuri papad range:- Munico Foods offers a range of Berhampuri papads,

featuring various flavors and traditional recipes from the Berhampur region. Here are
some examples of the Berhampuri papad range:
• Masala chips papad, special masala papad, traditional til papad, ajwain papad,
black pepper papad, masala papad, rasi papad.

➢ Fry powder (pakoda mix) range:- Munico Foods offers a range of Fry Powder
(Pakoda Mix) products, which are convenient and flavorful mixes used to prepare
pakodas (fritters). Here are the examples of their Fry Powder range:
• Veg chips mix, non-veg pakoda mix.

➢ Blended spices range:- Munico Foods offers a diverse range of Blended Spices,
carefully crafted to enhance the flavors of various dishes. Here are some examples of
their Blended Spices range:

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 • Biriyani masala, chicken masala, meat masala, garam masala, sambar
masala, curry powder, dalma masala, mushroom masala.

➢ Berhampuri pickle range:- Munico Foods offers a delectable range of Berhampuri

pickles, featuring a variety of flavors and traditional recipes. Here are some examples
of their Berhampuri pickle range:
• Mango sweet pickle, mango sweet pickle, navaratna pickle, amba sada
pickle, lemon sweet pickle, garlic pickle.

➢ Sauce range:- Munico Foods offers a range of flavorful sauces to enhance your
culinary experience. Here are some examples of their Sauce range:
• Maruti chilli sauce, maruti tomato sauce.

Munico Foods offers home delivery services for its food products. This service allows
customers to conveniently receive their desired food items directly at their doorstep.
Furthermore, Munico Foods aims to cater to a wide range of customers by providing services
in both rural and urban areas. This approach ensures that their food products are accessible to
individuals residing in various locations, including both rural and urban communities.

Problem/issue

1. An excessive reliance on a particular market:- Munico Foods faces the challenge

of relying heavily on a single market, which poses a risk to their business. There is a
need to increase market share in other areas to reduce dependency and ensure long-
term growth and stability.

2. Different places have different tastes and preferences:- Munico Foods encounters
variations in the demand for its products among different regions and customer
segments. This presents a challenge in effectively meeting diverse customer
preferences and adapting product offerings to cater to specific regional demands.

3. Lake physical promotion and social media:- Munico Foods has a lack of presence
and promotion on social media platforms as well as physical channels. This limits

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 their ability to generate brand awareness, reach a wider audience, and effectively
communicate the value of their products.

4. Exploring novel business prospects in emerging sectors of trade:- Munico Foods

faces the challenge of identifying and tapping into fresh business opportunities in new
areas of trade. This includes exploring untapped markets, understanding emerging
trends, and identifying potential avenues for expansion.

5. Generating revenue in the emerging market segment:- Munico Foods encounters

difficulties in generating sales in new areas of trade. This includes establishing a
customer base, building brand recognition, and effectively promoting and selling their
products to the target market.

Conceptualization:

1. Excessive reliance on a particular market:-

Solution:- Market Diversification Strategy: Utilize market analysis tools such as
market segmentation, customer profiling, and competitive analysis to identify new
areas for expansion. Develop a comprehensive market diversification strategy that
outlines target regions, customer segments, and product adaptations required to
penetrate new markets successfully.

2. Different places have different tastes and preferences:-

Solution:- Customer-Centric Approach: By Applying consumer behavior theories and
market research techniques to understand the varying tastes and preferences of
different regions. Tailor products, branding, and marketing messages to cater to the
specific needs of each target market. Implement localized marketing strategies and
adapt products to align with regional preferences.

Adapting to Regional Preferences: Recognize the importance of understanding and

accommodating different tastes and preferences across locations. Conduct market
research and gather customer feedback to gain insights into regional preferences.

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 Modify product formulations, packaging, and marketing strategies to align with the
specific tastes and preferences of different regions.

3. Lake physical promotion and social media

Solution:- Strengthening Promotion: By Developing an integrated marketing
communication plan that includes both social media and physical promotion.
Leverage social media platforms, targeted advertising, engaging content, and
influencer partnerships to increase brand visibility and reach. Implement physical
promotion activities such as participation in trade shows, collaborations with local
retailers, and community events to create awareness and generate sales in new areas.

4. Exploring novel business prospects in emerging sectors of trade

Solution:- Exploring Business Opportunities: By Conducting market research and
analysis to identify fresh business opportunities in new areas of trade. Explore
untapped markets, emerging trends, and customer needs to identify potential avenues
for growth. Develop partnerships with local distributors, retailers, and suppliers to
establish a presence in new areas and expand sales channels.

5. Generating revenue in the emerging market segment

Solution:- Sales and Marketing Strategy: By Developing a comprehensive sales and
marketing strategy specifically tailored to new areas of trade. This includes creating
brand awareness, building customer trust, and establishing distribution networks.
Implement effective promotional campaigns, targeted advertising, and personalized
sales approaches to attract customers and drive sales in new markets.

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 OBJECTIVES

1. Competitor Identification:- The first objective is to identify and analyze the

competitors operating in the market of Munico Foods' products. This objective aims
to gather information about key competitors, their market share, product offerings,
pricing strategies, and brand positioning. By understanding the competitive landscape,
Munico Foods can identify areas of differentiation and develop strategies to gain a
competitive advantage.

2. Channel Strategy of Competitors:-The second objective is to study the channel

strategies employed by competitors in the market. This objective focuses on analyzing
how competitors distribute their products, including their choice of distribution
channels, partnerships with retailers or wholesalers, and online presence. By
understanding the channel strategies of competitors, Munico Foods can identify gaps
or opportunities in the market and devise effective distribution strategies to reach its
target customers.

3. Customer and Retailer Perception Towards Fermented Rice Water:- The third
objective is to assess the perception of customers and retailers toward fermented rice
water, a specific product offered by Munico Foods. This objective involves
conducting surveys, interviews, or focus group discussions to gather feedback and
insights. By understanding the perception of customers and retailers, Munico Foods
can identify the strengths, weaknesses, and opportunities associated with the product.
This information will help in refining the product, enhancing its marketing, and
addressing any concerns or misconceptions.

4. Execution Plan for Munico Foods in Bhubaneswar and Jamshedpur:- The fourth
objective is to develop an execution plan for launching Munico Foods' products in
Bhubaneswar and Jamshedpur, a specific target market. This objective involves
analyzing the market potential, understanding the target customers in Bhubaneswar
and Jamshedpur, and developing a comprehensive plan for product positioning,
pricing, promotion, and distribution. The plan will also include identifying the
necessary resources, timelines, and budget required for the successful launch of
Munico Foods' products in Bhubaneswar and Jamshedpur.

5. Enhance Promotion and Brand Awareness:- The fifth objective is to improve social
media and physical promotion activities for Munico Foods. This objective aims to
increase brand visibility, generate buzz, and create a strong brand presence on social
media platforms. It also focuses on implementing effective physical promotion
strategies, such as events, collaborations, and partnerships. By achieving this
objective, Munico Foods will enhance its brand image, attract more customers, and
increase market recognition.

6. Cater to Regional Variations in Demand:-The sixth objective is to address the

variation in demand for products in different regions and among different customers.
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This objective focuses on understanding specific regions' preferences, tastes, and
cultural nuances. It aims to develop customized product offerings and marketing
strategies that resonate with the target customers in each region. By achieving this
objective, Munico Foods will be able to effectively meet the diverse demands of its
customers and enhance customer satisfaction.

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 METHODOLOGY

The study will focus on customers, retailers, Wholeseller, and different distribution channels
and Competitors in the target market of Munico Foods. The specific segment or group of
beneficiaries assigned for the study will include individuals who have purchased or interacted
with papad, sauce & food supplements category products. The study will aim to explore their
perceptions, preferences, and experiences related to the products. Both qualitative and
quantitative research methods are used for the Market survey.
The Market survey is to find out the different Competitors and their distribution channels in
Bhubaneswar and Jamshedpur to help launch Munico Foods products in these areas.
Sample size:- 70-75
Data Collection:- Here, I collect Primary Data From Market surveys and Secondary data from
Various websites and Company Websites.
To analyze the data I use the Ms-Excel and Power Bl to present the research findings in a
comprehensive and visually compelling manner. This methodology will enable Me and
Munico Foods to gain valuable insights and make informed decisions based on the collected
data.

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 References

1. Munico Foods - About Us

2. (PDF) Importance of Diversified Marketing Strategies for Fast Food ...

3. Market strategies used by processed food manufacturers to increase and ...

4. Munico Foods - CrunchBase Company Profile & Funding

5. 6 Proven Marketing Strategies for Food Tech Companies | Academy - Rocketium

6. MUNICO FOODS PRIVATE LIMITED - Company Profile, Directors ... - Tofler

7. Munico Foods - Online Store

8. Obtaining Market Recognition And Assessing Value Propositions ... - Forbes

9. Development of Marketing Strategies for Perishable Food Products

10. (PDF) Food Marketing as a Special Ingredient in Consumer ... - ResearchGate

11. 6 Marketing Strategies for Restaurants and Food Businesses ... - DesignBro

12. Foods | Free Full-Text | Food Marketing as a Special Ingredient in ...

13. Marketing Mix Of MTR Foods - MTR Foods Marketing Mix

14. Frontiers | “I Like the One With Minions”: The Influence of Marketing ...

15. Marketing plan for GrabFood - Medium

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Results/Findings:
Discussion of Results:
Conclusion:
Learning from the Project:
Recommendations:

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