Meena Bazar Essay

Meena Bazar is one of the largest retail supermarket chain in Bangladesh with International standards, opened in 2002 and operates in Dhaka, Chittagong and Khulna division. Meena Bazar outlets are carrying almost 12,000-15,000 products for sale & providing convenient shopping experience, easy parking and friendly customer service for its customers. Meena Bazar is a subsidiary of Gemcon Food & Agricultural Products Ltd, producing organic products, dairy items, prepared food & herbal products. Meena Bazar is not only catering such items to its shoppers, but also educating them about their benefits. In order to offer the best possible price to its valuable customers, Meena Bazar procure their produce items directly from the farmers, cutting the middlemen, while ensuring high quality, freshness and continuous availability. Meena Bazar is also known as one of the trustworthy food suppliers of the nation, hence it is committed to deliver its’ best of the very best by expanding its s phere all over Bangladesh. Design a store layout which gives smooth and effective flow Design elegant products which can be flat-packed efficiently Site stores of an appropriate size in the most effective locations Maintain cleanliness and safety of storage area Arrange for fast replenishment of products Monitor and enhance quality of service to customers Continually examine and improve operations practice Ensure that the jobs of all staff encourage their contribution to business success Operations Management at Meena Bazar * Design a store layout which gives smooth and effective flow: Approximately 15 million customers visit Meena bazar’s retail shop each year. New store designs showcase merchandise in an engaging and contemporary fashion, keeping pace with evolving retail trends. 1. Storefront Design 2. Interior Design 3. Lighting Design 4. Sounds and Smells: Total Sensory Marketing The follow grid layout, which gives them some advantages like, Low cost, Customer familiarity, Merchandise exposure, Ease of cleaning, simplified security, Possibility of self-service. * Ensure that the jobs of all staff encourage their contribution to business success In Meena bazaar they actually follow some procedure to ensure that that all staff are giving their best for the business success. * measuring employee performance and holding employees accountable, * providing the communication necessary to align each employee’s actions with the organization’s overall business goals, * pursuing the employee development necessary to ensure success, and * Making a commitment (time, tools, attention, reinforcement, training, and so forth) to keeping employees engaged over the long haul because they fundamentally believe and understand that no other strategy will produce as much success – for both the business and the employees. Recognition and reward, Effective performance feedback, Shared values and guiding principles, relate effectively with employees, Positive relationships with coworkers. * Continually examining and improving operations practice (called operations improvement) At least one new consumer packaged goods product is launched somewhere in the world every two minutes. Retailers know they can increase market share if they can be first in their trading area to introduce a popular new item or do a better job of marketing it than their competitors.† Distribution, Placement, Point of sale, Promotions, Price Changes are important aspects to examine and improve their operations practice. * Monitoring and enhancing quality of service to customers (called quality management) Quality in retailing is a package, consisting of goods quality and service quality in combination. Quality assurance systems aim to maintain a consistent level of quality in the flow of goods, and quality control system aim to halt the progress of faulty products in supply chain. There are some processes that meena bazaar applying in their shop to give the best service to the customer. So, they flow some process to give the full satisfaction to the customers. * Customers are assets of the retail business and the retailer can’t afford to lose even a single customer. * Greet customers with a smile. * Assist them in their shopping. * The sales representatives should help the individuals buy merchandise as per their need and pocket. * The retailer must not oversell his products to the customers. Let them decide on their own. * Give the individual an honest and correct feedback. If any particular outfit is not looking good on anyone, tell him the truth and suggest him some better options. * Never compromise on quality of products. Remember one satisfied customer brings five more individuals to the store. Word of mouth plays an important role in Brand Promotion. * Arrange for fast replenishment of products: High margin items should be placed in high traffic Areas. High demand items should be placed in low traffic areas. Complementary items should be placed near each other. Seasonal needs should be considered. Items needing frequent restocking should be placed near storerooms or cash registers. Larger departments should be placed in lower traffic areas. So they can easily arrange for the fast replenishment of products. * The retailer must ensure to manage inventory to avoid being â€Å"out of stock†. * Every retail chain should have its own warehouse to stock the merchandise. * Take adequate steps to prevent loss of inventory and stock * Maintain cleanliness and safety of storage area The Meena bazaar store always offers a positive ambience to the customers for them to enjoy their shopping and leave with a smile. * The store should not give a cluttered look. * The products should be properly arranged on the shelves according to their sizes and patterns. Make sure products do not fall off the shelves. * There should be no foul smell in the store as it irritates the customers. * The floor, ceiling, carpet, walls and even the mannequins should not have unwanted spots. * Never dump unnecessary packing boxes, hangers or clothes in the dressing room. Keep it clean. * Make sure the customers are well attended. * Don’t allow customers to carry eatables inside the store. * Site stores of an appropriate size in the most effective locations Strengths of the Meena Bazar is Size allows for competitive buying terms, Strong senior management, Flexible formats. Opportunities of the Meena Bazar are Forming or merging a strategic alliance with suppliers, Growth of non-food, Growth of convenience and compact hypermarket formats, Effective use of Clubcard database to increase basket size and Develop additional services. They have their branches in the most effective area like dhanmondi, jatrabari, uttara, banana, kuril and so on in almost all over the country. * Design elegant products which can be flat-packed efficiently Product will be designed in a way which is compact so that it can be attractive and minimization of shipment cost. Category signage helps consumers negotiate throughout the store to find the product categories they are looking for. The size of category signage varies widely from a lettering that is a few feet in height to merely inches. Space Productivity represents how effectively the retailer utilizes its space and is usually measured by sales per square foot of selling space or gross margin dollars per square foot of selling space.