As part of my BBA degree requirements, I completed an internship with Madina Group BD. This confirms that the Internship Report “Marketing Strategy of Madina Group BD” was prepared as part of the completion of BBA program at Department of Business Administration, Sonargaon University (SU) by Md. The main objective of the internship is to fulfill the requirements of the BBA program as prescribed by SU.
Chapter-1 Introduction
- Background of the Study
- Methodology
- Sources of Data
- Objectives of the Study
- Broad objective
- Specific objective
- Limitations of the Study
Direct communication with the employees of the company's factory.. a) Printed packaging of the company's products. Most of the data is from primary sources as secondary sources of data are not available enough to serve my purpose.
Chapter-2
Literature Review
Literature review
The marketing strategy is the way in which the marketing function organizes its activities to achieve a profitable growth in sales at a marketing mix level”. A marketing strategy can be defined as a plan (usually long-term) to achieve the organization's objectives as follows...". By specifying how these resources are to be used to take advantage of opportunities that are expected to arise in the future A marketing strategy will consist of the following:
Selecting market target strategies for the product markets in each business unit, establishing marketing objectives, and developing, implementing and managing the marketing program positioning strategies to meet market target needs.” Walker, Boyd, Larreché(1992) “The primary purpose of a marketing strategy is to effectively allocate and coordinate marketing resources and activities to achieve the company's objectives within a specific product market. Decisions about the scope of a marketing strategy therefore include specifying the target market segments to pursue and the product line to develop.
Bradley (2003) Marketing strategy consists of an internationally integrated but externally focused set of decisions about how an organization addresses its customers in the context of a competitive environment. Hamper & Baugh (1990) "Although definitions of the term vary, we define marketing strategy as a consistent, relevant and workable set of principles by which a given firm hopes to achieve its long-term customer and profit goals in a given competitive environment."
Chapter-3
Overview of the Organization
- History of the Organization
- Mission of Madina Group BD
- Vision of Madina Group BD
- Profile of Employee
- Office and Production Staff
- Production Unit
- Product Line
Being one of the leading registered manufacturers and exporters of textile goods in Bangladesh, it contributes a lot to the export growth of Bangladesh. Its products named "MadinaChomokVoil&Madina Dyed Poplin" are among the leading textile brands in the domestic market. Madina Textile's collection of bedding and fabrics are exported to various countries around the world.
You always want to have your organization as the best company in the country. While numbers reflect the durability of the fabric, what reflects the aesthetics of the end user is the design, color combination and mood of the fabric print. Their mission is the pole star of their vision to maximize the production of quality products and services strictly according to ethical and moral standards at minimal cost to society, ensuring optimal benefits for consumers.
They owe it to the high degree of professionalism and commitment that our management team has brought to the company. They are so highly valued that they feel inspired to go out and give us their best to set global trends in the textile industry.
ORGANIZATIONAL STRUCTURE
Chapter –4
Internship Responsibility
Internship Positions
Some days my work area is in the office, and some days the work was outside the office, in the field. Following these guidelines, I stay in different departments on different days and learn something new every day.
Internship Duties
- Customers Create
- My daily Routine
I learned a lot from this company about office work and how Electronics Company interacts with customers. I have seen salespeople build such a good relationship with the customer that so many times the customer is faced with a problem but the customer does not go to another competitor or diversify but hangs around (he problem to the salespeople so the salesperson solves the problem ). In this company I worked under the Marketing Manager and took on the role of an assistant whose job is to assist the Manager by providing information about the company, completing and checking a document to be sent to the manager , to monitor or observe the general activities and performance of the employees on behalf of managers and to make the manager aware of the difficulties, complaints and errors related to the various activities and performances of the company.
Sometimes my duty as an assistant was to observe the various functions of the company.
Problem Solving
We have tried to fix the problem and we want to talk about the problem, but even he does not agree to talk about the problem with us. We talked about the problem, after a while he understood that it was not a mistake. I worked on a project that was like this: one Madina Group salesperson left Madina Group and the company rules are that when a salesperson wants to leave, he must hand over all customer accounts to another sales person or company and he must introduce an alternate person who will be next dealt with the customer.
Then another work of leaving the dales person is, you need to collect a balance confirmation letter signed by the company which is provided by Madina Group and checked by the customer which letter includes all the debit and credit calculations with the customer. So, when the salesman was leaving, Madina Group management sent me to go with him to the customer and introduce myself. Some customers don't want to give the balance it's ok but you have to come next time and get the receivable copy of the balance confirmation.
Sometimes, when we went to the customer ourselves for balance confirmation and introduction, we saw that the customer was not at the specified address. So when we went to that address, we saw that the customer/company was moving to an unknown place without paying his outstanding dues to Madina Group.
Chapter –5
Marketing Strategy of Madina Group BD
Marketing Strategy
Many international markets are now extremely competitive due to the liberalization of the global trade and investment environment. Therefore, Madina Textile's marketing strategy is to satisfy the customer with its products and services.
Product Planning, Development & Management
- Product development Process
Since the business analysis is favorable, management approves the products for development.
Commercialization
- Pricing Strategy
- Product base price
- Distribution mix of Madina Group
- Madina Textile Ltd
- Customer Shop
- Indirect channel
- Promotional Strategy
- Success and Failure of Product
- List of Major Competitors
- Future Prospective of the Organization
Then DEM and EM recalculate this price and if this is workable for Madina Textile, DEM proceeds to ask the customer to place an order, otherwise it will not go through. Madina Textile also trades and distributes their goods through agents/buying houses to avoid heavy losses abroad due to unknown market situations in the beginning of its operations and to invest large amounts in that particular country. Madina Textile uses all available means to promote products and communicate information. They effectively use strategies such as advertising, sales promotion, trade promotion, PR etc.
Advertising of Madina Textile makes the buyer aware of the products and communicates the information about the products circulating in the market. Madina Textile Mills Ltd uses this channel to push product forward and gain space. The top management is mostly religious minded people so the public respects his products. Madina Textile started this unit for its production since 1974 because it was the oldest unit of Dhaka; the demand for its product is very high.
That is why most of its products are out of reach of the poor man. Management keeps itself informed about the international situation, natural disasters, cultural aspects and changing customer trends.
Chapter-6
Analysis & Findings
Critical Analysis
- POLITICAL FACTORS
- ECONOMIC FACTORS
- SOCIAL FACTORS
- TECHNOLOGICAL FACTORS
The current change in the political scenario can certainly be beneficial for the economy in the next financial year. With the political situation changing, the country's exports are increasing day by day. It is also the duty of the government to take care of the textile sector and make good policies for this sector for export and import.
The consumption of Madina products is considered the best in quality in most of the local markets. It is the policy of Madina textile that the products for export are designed according to the beliefs and values of the international consumers. The products are made according to the changing lifestyle and preference and dislike of the customers.
Being one of the largest in the textile sector, Madina Textile has huge financial resources and can always install the latest and advanced machines in its production department. Due to good financial resources, Madina Textile is rapidly introducing new technologies in all its departments.
SWOT Analysis
- Strengths
- Weakness
- Opportunities
- Threats
Companies that do not keep up with technological change will soon find their products obsolete and miss out on new products and market opportunities.
Chapter-7 Conclusion &
Recommendation
Conclusion
- The Role of Environmental Culture
- The Quality Machinery, Equipment and Laboratory
- Discipline and Implementation of Rules
- Customer Satisfaction
- Use of Cyber Technology
- The Design Studio
- Facilities for The Employees and General Public
In addition to fabric, Madina Textile has a well-tuned stitching department equipped with many machines to produce value-added textile products. Rather, these problems were completely eradicated and this caused the rapid progress of the Group as a whole. During my internship at the Madina Textile Mills, I noticed that Madina Textile is one of the leading manufacturers of textile products in Bangladesh.
The internship gave me the opportunity together to research and find out the factors that have contributed to the success of Madina Textiles. The environmental culture of the organization has played and plays a decisive role in the success and progress of Madina Textiles. Discipline and implementation of rules and regulation is a distinctive feature of Madina Textile that has led to its success.
As with all other established national and multinational organizations, Madina Textile's motto is "customer satisfaction". An important factor that has led to the success of Madina Textile is its Design Studio.
Recommendations
Considering the purchasing power of the general public, Madina's Madina Super Deluxe, Voil, MadinaKeshoriVoil, Madina Miner Voil & Madina Gold Voil.
Bibliography
