Products and Subsidiaries of Meghna Group of Industries

Products and Subsidiaries of Meghna Group of Industries

Meghna Group of Industries (MGI) is one of the biggest and leading conglomerates of Bangladesh. With a turnover of USD 2 billion and asset of USD 1 billion, MGI is currently operating in 32 companies, 30 industries with more than 15000 employees, 3000 distributors and 1000 suppliers across the country The history of Meghna Group of Industries dates back to 1976 when its predecessor Kamal Trading Company was born, the group’s humble debut occurred with the inception of Meghna Vegetable Oil Industries Ltd. in 1989 on a small chunk of land at Meghnaghat in Narayanganj. Now the group is running 30 industrial units on more than 350 acres of land. Meghna Group of Industries has been marketing cement, commodities, chemical, fish and poultry feeds, power plant, other bulk and industrial product under the brand name ‘Fresh’, ‘Number One’, and ‘Pure’.

The group also owns ship building dockyards, shipping company, securities, general insurance, media, aviation company and many other businesses, The group has more than 35 years of national and global experience. In Bangladesh, one in every three households use MGI brands and products, MGI has started to spread its footprints outside Bangladesh, especially in the Middle East, Southeast Asia, Europe , North and South America through exporting its various products.

MGI has been very aggressive in its expansion plans and emerged as one of the largest investors in industrial development of Bangladesh. Meghna Group’s presence in this ambitious business expansion plans is designed and driven by a visionary and very humble person Mr. Mostofa Kamal, who is not only a far sighted entrepreneur but also known for his patriotism, contribution towards development of industrial, health , education ,sports, social welfare as well as various other sectors. His philanthropy, honesty, sincerity and dedication fetched the group today’s lofty achievements.

Meghna Group has already invested USD 1 billion for setting up new lines of business and great expansion programs such as chemical complex, power, salt, cement and media. Meghna group has contributed almost 75 million US Dollars as tax to the state exchequers in fiscal year 2012-2013. This is undoubtedly a glaring example of passionate initiative and a pioneer leadership role by a private sector investor in country’s economic and industrial development.

Mission

Meghna Group of Industry (MGI) looks forward to enhance its capability in a competitive and globalizing environment delivering superior and sustainable value. It shall be a professionally managed Bangladeshi conglomerate committed to consumer delight and enhancing stakeholder value. MGI is determined to be an innovation entrepreneurial and empowered team constantly creating value and attaining international benchmarks which fosters a culture of caring, daring, trust and continuous learning while meeting expectation of employees, stakeholders and society at large

Vision

Meghna Group of Industries (MGI) is passionately creating sustainable economic value for the country and stakeholders by contributing to the industrial development of the nation and fundamental requirements of our consumers.

Industrial Development: MGI believes that as a business it has to actively contribute to the industrial development of the country to create sustainable economic value. MGI is constantly trying to embark on projected that would have positive impact on the fundamental fabric of the country.

Progress: MGI’s origin stern from the belief that every individual has a deep desire to progress. MGI put sits effort to make that progress happen for their employees, consumers, suppliers, society and nation at large.

Values

Openness-diversity is a source of wealth and change, a constant opportunity.

Curiosity: Characterizes an attitude of awareness and looking ahead, of being attuned to others, refusing to accept preconceived ideas and models and imagination.

Agility: Synonymous with vitality, energy, speed, flexibility and adaptability.

Enthusiasm – There is no limit – only obstacles to be overcome.

Boldness: As opposed to bureaucratic security, it symbolized the desire and capacity to take risks and explore now, unorthodox paths. It also implies the ability to endure and overcome failure.

Passion: Synonymous with conviction, a drive to convince and lead the pleasure of work, the ability to surpass oneself and achieve excellence.

Appetite for challenge: Characterized by the optimistic, enthusiastic and almost physical desire to grow and take the lead.

Humanism- the attention paid to the individuals, whether they are consumers, customers, employees or citizens, is at the heart of all our decisions.

Sharing: An approach that emphasizes dialogue, transparency and teamwork

Responsibility: MGI pays attention to the safety of people and products, acts pro-socially and is environmentally friendly

Respect of the other: MGI is sensitive to cultural differences, treats social and commercial partners with respect and facilities the development of its partners

Proximity: To Know how to stay close to each person in the world: consumers, customers, suppliers, stakeholders and society become a part of their everyday lives.

Brands

Meghna Group of Industries is a consumer focused company and has set a new standard since its emergence. The Group follows multi-branding strategy like some of the biggest companies of the world for a more successful outcome.

Brands are reflection of the spirit or soul of an organization. It is considered a very important in the consumer market as it is what interconnects consumers with the company. A brand can be a name, logo, trademark or symbol. The purpose of a brand is to distinguish a company’s product from another in order for loyalty to take position in the consumer mind for that particular brand.

Fast Moving Consumer Goods (FMCG) is one of the largest and fastest growing sector in the economy of Bangladesh. Fast Moving Consumer Goods are defined as low involvement products which are among convenient everyday goods. Products like salt, flour, edible oil, sugar etc. fall under this category.

In recent years, the FMCG industry is happening to experience a rather difficult market condition. In some cases, former popular brands have either been gone out of business or surviving as the middle entity among the market leaders and low cost competitors, partly because it is very difficult to track consumer’s brand preference. Sometimes after deciding on one brand, consumer may change their decision at the time of actual purchase. This is where brand trust and brand loyalty come to play.

To build consumer loyalty, a company must focus on building and maintaining trust in the consumer brand relationship. Unlike interpersonal trust that is built on person to person relationship, brand trust is different as brand is a symbol and is unable to respond to the consumer. This study focuses on examining how some factors like brand reputation, company reputation, brand predictability etc, is affecting the development if trust in brand of consumer goods in Bangladesh FMCG industry.

The brand name Fresh’, under which most of MGI’s products are available in the market. FRESH symbolizes Purity, Quality, Trust and Freshness and is committed to quality compliance and serving customers at an affordable price at all times. Products under this brand includes Full Cream Milk Powder, Soybean Oil, Mineral Water, Sugar, Flour, Spices, Tea, Iodized Salt, Palm Oil, Mustard Oil, Cement and Feeds. The other brand s in its portfolio which are ‘Pure’, ‘Super Pure’, ‘Golap’ and ‘No.1.

Fresh Sugar
Super Fresh Soybean Oil
Super Fresh Vegetable Oil
Fresh Mustard Oil
Fresh Full Cream Milk Powder
Fresh Atta-Maida- Suzi
Super Fresh Drinking Water
Fresh Tea
Fresh Salt
Fresh Spices
Fresh Semai
Fresh Dal
Fresh Cement
Fresh Poultry and Fish Feed
No.1 Condensed Milk
No.1 Tea
No.1 Drinking Water

Strategic Business Units

Consumer brands and commodity products
Chemicals
Cement
Fiber
Printing and Packaging
Energy & Power
Pulp and Paper
Shipping-Logistics
Aviation
Poultry and Fish feed
Steel
Real Estate
Insurance
Security
CNG
Media
Bank

Subsidiaries

Meghna Group of Industries has the following subsidiaries:

United Sugar Mills Ltd.
Meghna Seeds Crushing Mills Ltd.
United Edible Oil Mills Ltd.
TanveerOil Mills Ltd.
Surma Mustard Oil Mills Ltd.
Unique Cement Industries Ltd.
Fresh Cement Industries Ltd.
Janota Flour and Daal Mills Ltd.
Tasnim Chemical Complex Ltd.
United Fiber Industries Ltd.
Tanveer Polymer Industries Ltd.
Global Ad Star Bag Industries Ltd.
Unique Power Plant Ltd.
Everest Power Generation Company
Tasnim Condensed Milk Ltd.
Tanveer Food Ltd.
Sonargaon Salt Industries Ltd.
United Mineral Water & PET Industries Ltd.
Dhaka Plastic Bottle Industries Ltd.
Meghna Tea Company Ltd.
TanveerPriting& Packaging Industries Ltd.
Tanveer Paper Mills Ltd.
Meghna Pulp & Paper Mills Ltd.
Meghna Shipbuilders & Dockyard Ltd.
Mercantile Shipping Lines Ltd.
United Shipping Lines Ltd.
Meghna Aviation Ltd.
United Feeds Ltd.
Unique Hatchery & Feeds Ltd.
Tanveer Steel Mills Ltd.
Meghna Properties Ltd.
Bangladesh National Insurance Company Ltd.
Dhaka Securities Ltd.
Everest CNG Refueling Conversion Ltd.

Job Description and Job Responsibility

I got the opportunity to work as an intern in the Meghna Group Of Industries(Fresh division) for three months and this opportunity helps me to get familiar with the corporate culture, real working environment, I was appointed to the sales and marketing department by Executive Director of this firm. From three months I gathered lots of working experience from this firm as well.

For fulfilling specific purpose of sales and marketing department MGI appointed me to work there. In the below part I am describing the job briefly

From middle of the year 2013 Meghna Group of Industries is running Retail Audit project and prepare a report every month to get the idea of consumer food products availability and market share in the Dhaka wing. The main purpose of the project is to manage a complete database of retailing outlets in the Dhaka wing. Moreover, the firm is getting other benefits such as proper information about the market scenario, competitors scenario from this valuable project.
Meghna Group of Industries is also running a project known as Skill Development project to increase the performance of sales field force in Bangladesh. The main purpose of this report is to see the employees who is performing well in the market and also identify employees who is performing less in the market and arrange training program to increase their sales performance in the market.
MGI did a survey to see the reaction of prospective customers for their new product FRESH INSTA MILK powder in the market and the main reason of this survey whether the customer reaction is positive or negative and whether the new product will be profitable for the firm. For three months I had specific jobs and responsibility in MGI. In the below part I have discussed my responsibilities
Retail Audit project report needs primary data which is collected by the sales force and my day to day job is to manage the field force to collect the data and I also gave guidance to collect the data properly. There is specific time duration to collect the data and I managed the employees to collect and submit the data with the specific time frame. Later my responsibility is to give input of the collected data and make analysis of the data. Then I submitted the result to the higher management.
I was also worked as a project member of Skill development project. This project aims to identify the less performing sales force in the market and arrange training to increase the productivity of the employees. My main responsibility was to give data input from collected data and later analyze the results and identify the poor performing employees and give the report to the management for further processing and decision making.
The third responsibility I had in this firm is to give input of survey data of Fresh Insta Milk powder and finding the results.

The above discussed points was my regular work that I had done in Meghna Group of Industries. Besides these regular activities I had to do some other work such as I had processed data for the Sales Automation project as well. The three month internship opportunity gave me the real working experience. Moreover, this opportunity helps me to gather good managing ability as well.

Conclusion

Meghna Group of Industries FMCG division is one of the leading companies in the market. This report has provided some interesting insight into what kind of benefits the company is getting from Retail Audit project and issues should be taken into consideration in order to increase the product availability and increase more market share. Recently, the company has changed the label for their ‘Fresh’ branded soybean oil. But the previous label also exists in the market beside the new label which is very confusing for the consumers. Company should address this type of detailed problems in order to contribute in a better brand image which will increase consumers trust in the brand and as a result increase brand loyalty as well as increase sales.

Meghna Group of Industries has come a long way and has leaped through the time with excellent expertise. The sales and marketing team of ‘Fresh’ would find it helpful if they can stay updated to the consumer reactions to the different marketing activities and take the steps accordingly. Choosing proper and suitable marketing programs not only gain consumer trust but also will reel in market share which Meghna Group of Industries needs to become a giant.