Podcast
Questions and Answers
What is MTR's market share percentage in the Ready-to-Eat (RTE) meals and mixes segment?
What is MTR's market share percentage in the Ready-to-Eat (RTE) meals and mixes segment?
- 0.7%
- 4.1%
- 26.8% (correct)
- 12.9%
Which competitor has the highest market share in the Pure Spices category?
Which competitor has the highest market share in the Pure Spices category?
- MTR with 4.1%
- MTR with 0.7%
- Competitor with 6.7% (correct)
- Competitor with 10.2%
What is one of the primary challenges faced by consumers in their food choices according to Myra's quote?
What is one of the primary challenges faced by consumers in their food choices according to Myra's quote?
- Desire to maintain healthy eating habits
- Lack of resources to prepare meals
- Need for more family bonding during meals
- Monotony and lack of excitement in daily cooking (correct)
What is the market size for the Blended Spices segment valued at?
What is the market size for the Blended Spices segment valued at?
According to Lata's perspective, which aspect of cooking does she find particularly challenging?
According to Lata's perspective, which aspect of cooking does she find particularly challenging?
What was a key strategy that MTR utilized to classify its product portfolio?
What was a key strategy that MTR utilized to classify its product portfolio?
Which brand in the spices and masalas category emphasized the purity and genuineness of its products?
Which brand in the spices and masalas category emphasized the purity and genuineness of its products?
In what way did MTR's competitors emphasize their product offerings?
In what way did MTR's competitors emphasize their product offerings?
Which consumer need does the feel-good space primarily serve according to MTR's product classification?
Which consumer need does the feel-good space primarily serve according to MTR's product classification?
What was MTR's market share compared to its nearest competitor in the RTC and RTE meals category?
What was MTR's market share compared to its nearest competitor in the RTC and RTE meals category?
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Study Notes
Retail Value and Yearly Growth
- Retail value for Ready Meals in India grew significantly from INR 2,186.80 million in 2004 to INR 4,396.20 million in 2009.
- Year-on-year growth rates ranged from 13.6% in 2005 to 16.7% in 2008.
- Retail value of Sauces, Dressings, and Condiments rose from INR 25,887.00 million in 2004 to INR 43,773.50 million in 2009.
- Growth for Sauces varied between 9.4% and 12.6% during the same period.
MTR's Market Position (2010)
- MTR held a strong position with a market size of INR 1,949 million in Mixes and RTE (Ready-to-Eat) meals, capturing 26.8% market share.
- Competitors in the RTE market included brands with significantly lower market shares, such as 10.2% for the next biggest brand.
- In blended spices, MTR's market share was 4.1% against a competitor with 12.9%.
- In pure spices, MTR accounted for only 0.7% market share, while competitors had shares up to 6.7%.
Target Consumer Insights
- Consumers express diverse preferences and challenges in fulfilling family meal requirements.
- Many homemakers report feelings of monotony in daily cooking routines, indicating a need for variety and excitement in meal preparation.
- Emotional responses to food are significant, with some consumers viewing great-tasting meals as a source of upliftment and fulfillment.
MTR Product Categories
- MTR's product portfolio is classified into five distinct lines: preparation stage, cooking stage, and serving stage.
- Products are mapped according to consumption occasions: breakfast, lunch/dinner, desserts, and snacks.
- Categories include both indulgent food options and simpler, health-focused products.
Competition Landscape
- Competitors focus on functional benefits related to taste and convenience, with few offering emotional appeals.
- Market leaders in spices like MDH emphasized purity, while brands like Everest promoted enhanced taste.
- MTR excelled in the RTC segment, showcasing a strong emotional connection with consumers, maintaining a dominant share compared to competitors.
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