Internship Report on Mim General Store

Abstract

This report analyzes how Mr. Samsul started, operated, and managed the Mim General Store as an entrepreneur, and what management strategies he has used to achieve business success. Mim General Store is a grocery store which is located on the second floor of Polashi Bazar. The store has various sections ranging from food items to household items, beauty items. These items include some items that are considered fast-moving consumer products. Mim General Store basically has complete knowledge of everything from their target customer to the loyal customers even though they don't maintain customer profile in any documented way. The store caters to individual customers and businesses. The store has two categories of items: bachelor items include male and female items and family items include adult and children items. The store offers its customers two payment methods, cash, and credit. In addition to the Mim General Store, there are several other grocery stores in Polashi Bazaar, so the competition is fierce. There are two types of competitors seen when analyzing competitors such as direct competitors, which include all the stores located in the vicinity of the store, and indirect competitors, including supermarkets and wholesalers. The key strategy of the store's business management is to attract and retain customers. Always keeping customers first priority, in the long run, proves to be a competitive advantage of its business. Basically, store owner emphasizes hall canteen managers and those who shop in bulk and put comparatively less emphasis on the retail customer. During COVID19, hall canteens and small restaurants are closed, Mim General Store is facing huge losses. To overcome this crisis, it needs to retarget its market segment and reposition accordingly.