Monginis Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Monginis analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Monginis marketing mix, help the brand succeed in the market. Let us start the Monginis Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Monginis Product Strategy:
The product strategy and mix in Monginis marketing strategy can be explained as follows:
Monginis is a leading bakery and cake retail chain in India. The main products offered by Monginis in its marketing mix are fresh cakes which are baked for all occasions based on the demand. The cakes are made to order and can be customised by the customers according to their preferences and tastes into specialized designer cakes. The company has recently launched 3D and Live cakes which combine the tried and popular tastes with new cutting-edge technology. Monginis also offers around 130 products including baked cakes, pastries and packaged bakery items like muffins, cookies, chocolates and rolls. Its menu has a varied line of products under the categories of cakes, pastries, packaged goodies, confectioneries and savouries.
Monginis has also launched pure vegetarian cakes which are made without the use of eggs as many households in India prefer vegetarian food. Monginis also has a fun bakery theme activity park called Mongiland in Thane, Maharashtra where kids can learn to bake and have a fun filled time. It is a space dedicated to cakes and children where they can have birthday parties and fun-filled educative experiences. Other products of Monginis include party snacks in both vegetarian and non-vegetarian category and breads.
Image: company website
Monginis Price/Pricing Strategy:
Below is the pricing strategy in Monginis marketing strategy:
Monginis follows a competitive pricing strategy to beat the local unorganised competitor bakeries. The prices of basic cakes are in the low range and they go up with increased specialisations and charge high premiums for Live and 3D cakes.
The price of 500gm Monginis cakes usually vary from Rs.300 to 350 for basic flavours like Pine apple, Black Forest, Hazelnut etc. Live and 3D cakes weigh around 4kgs and above and are priced between Rs.3300 to Rs.4400 while wedding cakes are priced around Rs.6300-Rs.7000. Designer cakes and customised cakes having pictures on them vary from Rs.700 to Rs.1850 depending on the design and weight of the cake. Pastries are priced between Rs.30-Rs.80, while mini pastries are just for Rs.17. Other packaged products like muffins, sliced cakes and rolls vary from Rs.5 to Rs.80 based on their quantity and composition.
Monginis Place & Distribution Strategy:
Following is the distribution strategy in the Monginis marketing mix:
Monginis has a franchise based model in retail with stores in most tier-I and major tier-II cities. Its products are also available online on Monginis’s website. It has over 700 outlets all over India with an average footfall of 1,40,000 customers daily. Major locations include Ahmedabad, Akola, Aurangabad, Belgavi, Bhubaneshwar, Delhi, Goa, Hyderabad, Kolhapur, Mumbai, Nashik, Navi Mumbai, Odisha, Palanpur, Palghar, Patna, Pune, Raigad, Raipur, Rajasthan, Rajkot, Ratnagiri, Solapur, Surat, Thane, Vadodara and Virar. Apart from this, the long shelf life packaged products like cookies, muffins, chocolates and sliced cakes are available in over 10,00,000 outlets nation-wide which shows a strong marketing mix place strategy. It also has a prominent presence in malls, supermarkets and at railway stations. Monginis follows franchise based model for production as well with around 15 manufacturing franchisees located mostly in Maharashtra, Gujarat, Patna, Goa, Chhattisgarh, Odisha and Telangana.
Apart from India, it also serves in Egypt.
Monginis Promotion & Advertising Strategy:
The promotional and advertising strategy in the Monginis marketing strategy is as follows:
Monginis is a well-established brand in Indian Sweets and Bakeries industry and has a huge visibility owing to the widely spread presence in every locality and it promotes using various promotional channels. It has traditional advertisements on TV with its ads featuring various cognitive aspects like pure vegetarian cakes with superior taste as well as the affective aspect of family’s togetherness as a result of Monginis cake. The company uses “Zara chakh k dekho” (just taste it) as the tagline of its TV ad campaign. On digital platform, the company maintains a website where all of its products are listed extensively and people can place their orders in a convenient manner. The Mongiland fun destination also serves as a promotional gimmick for kids who wish to have Monginis cakes after visiting the place. Apart from these, word-of-mouth and retail promotion work as the most important promotional tools for the company.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Monginis.
People:
Monginis has more than 5000 employees across the country and a core team of professionals having 10-30 years of industry experience. They employ domain experts and people who want to learn be updated with the latest technologies in the field. Monginis focuses on team work with the leaders mentoring large teams under them, who in turn mentor teams under them. People at Monginis work very hard to make sure that the brand is a success. Since the company follows a franchise model and has direct customer interaction with them, it needs to ensure that they are taking their brand image forward and giving the end customer a Monginis experience. They attract the Retail Franchisee with benefits like the brand credibility of Monginis, low entry risk and a consistent and assured return on investments. Other contributors in the chain include manufacturing franchisee, distributors and super stockiests and the company ensures that all of them have the same drive and same passion for food as the Monginis brand.
Physical Evidence:
Monginis is an ISO-22000-2005 and HACCP certified company. It was awarded the iMint Most Admired Retail Food Chain in 2010. The award was given for Shoppers & Consumer Insights. Monginis brand was awarded as India’s No.1 Cake Brand in 2014 and Most Trusted Brand in Cakes category in 2015. It got a plethora of awards in 2016 for its excellence including the Franchise Award for Franchisor of the Year in Bakery & Café segment, the Majestic Five Continents Awards for Quality & Excellence, Food & Grocery Brand of the year in the bakery category, Indian Power Brand in cakes category, Indian Restaurant Awards and Best National Bakery & Confectionery Chain of the Year. Apart from all the accolades, Monginis also is deeply involved in various CSR activities. It is the member of National Skill Development Council of India and promotes baking science and culinary training as a part of curriculum in various college using their state of the art facilities. The company is also helping to make the planet greener by using solar panels, ovens with electric burners to avoid carbon emission, ETP and ATP plants for waste management and plating trees. They also use green air conditioners where the body heat is used in the boilers to reduce thermal waste.
Process:
The processes used for Monginis fresh baked cakes and packaged bakery items are different. The freshly baked cakes are available in Monginis stores, and can also be customised on demand of the consumer. Customers can pre-order the cakes from the stores a day or two in advance as well. Pre-orders for parties and weddings is also a way to go for freshly baked cakes. The packaged products on the other hand can be purchased off the shelf with no customisation at all. The products are all standardised and available in fixed sizes and prices across the country. Apart from the Monginis store itself, the packaged products can be found at other retailers, supermarkets and food stores. These products are supplied all over the country via a network of distributors and superstockiests. Both the product ranges can be ordered online as well by visiting Monginis’s website. This completes the marketing mix of Monginis.
About Monginis:
Monginis is a pastry and bakery chain in India which used to be a catering business in Mumbai run by two Iranian brothers in the early 20th century, but was later established as Monginis bakery in 1956 by Hussein Khorakiwala. They offer gourmet cakes, pastries, cupcakes and a variety of other bakery products which are crafted locally for local taste. The bakery business in India is a valued at Rs.3295 crores and is mostly dominated by unorganised sector. The unorganised sector contributes 67% to the production of biscuits, 80% to production of breads and 90% to production of other bakery items. Monginis is one of the very few organised players of this cake and other bakery products segment. Some of its competitors in organised segment are tiny surprise, cake studio and gifts2indiaonline.com, but most of the competition is faced by the local bakery shops.
The company also has operations in Egypt where it also sells online. Most of the products are customised to the local taste and totally different from the products it serves in India.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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