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Read the passage given below:
(1) Ratan, a global brand in Dairy products, works on a business model popularly known as, "The Ratan Model'. This model aims to provide value for money to the customers and protect the interests of farmerssimultaneously.
(2) The Ratan Model is a three-tiered structure that is implemented in its Dairy production : Firstly, Ratan acts as a direct link between milk producers and consumers that removes the middlemen.
Secondly, farmers (milkproducers) control procurement, processing and marketing. Thirdly, it is a professionally managed organization.
(3) One can understand the Ratan Model better by taking cognizance of 'Ratan's Target Audience', where it has targeted the massmarket of India with no premium offerings and works on providing the best quality products at affordable prices.
(4) So Ratan formulates its pricing policy on the low cost price strategy which has attracted a lot of customers in the past andit continues to do so.
(5) Another stance used by Ratan's Target Audience is based on customer-wise targeting and industry wise targeting. This strategy divides the target audience on the following two bases:
(6)
The above table showcases how Ratan has a diversified customer base.
(7) Industry Based Target Audience : Ratan has segmented milk for various industries such as ice-cream manufacturers, restaurants, coffee shops, and many similar industries. Further, it has segmented butter, ghee and cheese for bakeries, snack retailers, confectioneries, and many more.
(8) The target audience study tells us that Ratan has a strong presence in both Business to Business and Business-to-Customers.
(9) Ratan's marketing campaigns and strategies are implemented in a very attractive way. For example, the story of the 'Ratan Girl' is a popular 'ad' icon. It is a hand drawn cartoon of a young girl.
Based on your understanding of the passage answer any six out of the seven questions given below :
(1) Ratan, a global brand in Dairy products, works on a business model popularly known as, "The Ratan Model'. This model aims to provide value for money to the customers and protect the interests of farmerssimultaneously.
(2) The Ratan Model is a three-tiered structure that is implemented in its Dairy production : Firstly, Ratan acts as a direct link between milk producers and consumers that removes the middlemen.
Secondly, farmers (milkproducers) control procurement, processing and marketing. Thirdly, it is a professionally managed organization.
(3) One can understand the Ratan Model better by taking cognizance of 'Ratan's Target Audience', where it has targeted the massmarket of India with no premium offerings and works on providing the best quality products at affordable prices.
(4) So Ratan formulates its pricing policy on the low cost price strategy which has attracted a lot of customers in the past andit continues to do so.
(5) Another stance used by Ratan's Target Audience is based on customer-wise targeting and industry wise targeting. This strategy divides the target audience on the following two bases:
(6)
| Segment wise break down of Customer Based target Audience. | |
|---|---|
| Customers | Ratan products |
| Kids | Chocolate, Ratan cool, Ratan milk. |
| Youth | Ratan Pizza Cheese, Cheese spread. |
| Health Conscious | Ratan Shakti, Ratan Lite, Butter. |
The above table showcases how Ratan has a diversified customer base.
(7) Industry Based Target Audience : Ratan has segmented milk for various industries such as ice-cream manufacturers, restaurants, coffee shops, and many similar industries. Further, it has segmented butter, ghee and cheese for bakeries, snack retailers, confectioneries, and many more.
(8) The target audience study tells us that Ratan has a strong presence in both Business to Business and Business-to-Customers.
(9) Ratan's marketing campaigns and strategies are implemented in a very attractive way. For example, the story of the 'Ratan Girl' is a popular 'ad' icon. It is a hand drawn cartoon of a young girl.
Based on your understanding of the passage answer any six out of the seven questions given below :
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Question : 13
Total: 28
'Ratan Target audience' is described as a diversified market.
Explain with reference to the given table.
Explain with reference to the given table.
Solution:
Ratan's target audience is diversified. The Ratan products like Ratan chocolate, Ratan cool and Ratan milk are aimed to target kids as customers, whereas, Ratan pizza cheese, Ratan cheese spread target the youth, and Ratan Shakti, Ratan Lite, butter all these target the health-conscious customers.
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