lloydlopes
Lloyd Lopes
A PROJECT
ON
MARKETING OF A PRODUCT
NAME OF THE PRODUCT: - DESI JEANS
SUBMITTED BY –
LLOYD GABRIEL LOPES
F.Y.H.M.C.T
INSTITUTE FOR TECHNOLOGY AND MANAGEMENT
WORD COUNT: - 1604
MODULE NO: - B1040
ACKNOWLEDGEMENT
I hereby take this opportunity to thank all those people including our friends and colleagues who have helped us for the successful completion of the project.
I would also like to thank all my teachers who have guided me throughout the project.
But above all, I express my gratitude to our project guides Prof. Moreen Lobo and Prof. Mona Sinha for the continuous support and guidance they have rendered for the successful completion of this project.
CONTENTS
SR.NO TOPIC PAGE NO.
1.
INTRODUCTION
4
2.
BUSINESS ENVIRONMENT
5
3.
SWOT ANALYSIS
6
4.
MARKETING MIX
7
5.
TARGET MARKETS
8
6.
BIBLIOGRAPHY
10
DESI JEANS
One for All
COMPANY PROFILE:
Desi Jeans (DJ) is a product of Shah and Sons Pvt. Ltd... The identity of this company is not publicly known. Mr. Motilal shah a person from a middle class family started this company in the year 1985. Mr. Motilal shah has a proven and demonstrated track record in the Indian clothing industry. At first he started by dealing in regular garments like shirts and trousers etc., after sometime he also started dealing in jeans and t-shirts. After 10 years when the company made a huge profit Mr. Motilal Shah opened its branches into many other states like Maharashtra, Karnataka, and Bangalore etc. This company manufactures its own garments by ordering the raw materials from different areas. The raw material, which is used for making the garments basically, comes from Surat.
Desi Jeans (DJ) has been serving the consumers in the urban market for the past 6 years. DJ was introduced in the year 1999. DJ includes varieties of jeans and other related materials for men & women which categorizes different age groups.
BUSINESS ENVIRNOMENT
Ecological Environment:
The Jeans are packed in packets that are eco- friendly and are reusable and recyclable. The packets are also strong and firm enough to protect the product from any harm that can Detroit the quality of the product.
Science and Technology:
The jeans are prepared from denim and the major work is done by machines and therefore it involves less manufacturing cost and can be offered to the consumers at a reasonable price.
Consumer Needs:
The rural crowd is not much familiar to jeans and hence Desi Jeans is especially designed for the rural audience by keeping in mind their climatic conditions, their occupation etc. which requires jeans that should be rough and tuff.
Culture:
The rural crowd is very traditional and hence the product range does not include and body showing or low waist line jeans that can affect the traditions and sentiments of the rural crowd in case they are worn.
SWOT ANALYSIS
What is SWOT Analysis?
SWOT analysis is a basic, straightforward model that provides direction and serves as a basis for the development of marketing plans. It accomplishes this by assessing an organizations strengths (what an organization can do) and weaknesses (what an organization cannot do) in addition to opportunities (potential favorable conditions for an organization) and threats (potential unfavorable conditions for an organization).
• Strength:
A. As jeans are a utility oriented product it has a chance of very good demand in the rural market the pricing of Desi jeans is done in such a way that it is easily affordable by the Common rural man.
B. Desi jeans are designed keeping in mind the profile of the rural consumer. It is available in different designs and colours which will help the rural consumer to make a better choice.
C. Desi jeans have a strong distribution channel with the retailers in the rural markets. So it is easily available to the consumers.
• Weakness
A. The impact of advanced technology is not felt uniformly throughout the country as a result there are large amount of under developed people and under developed markets so it would be challenging to promote Desi jeans in the rural market.
B. The literacy rate is very low in the rural area so this results in a communication gap between the consumer and seller. It would be very difficult for the seller to explain about the product to the rural people.
C. There are problems of transporting the goods to the interiors due to no proper modes of transport and any proper road or rail facility.
D. There are proper warehousing facility available to store the products, as a result extra goods cannot be stored which can be used at the time of shortage.
• Opportunities
A. Rural market is a large and unexplored market with a potential and large population. So there is a good chance of the product to catch the market as there are large numbers of buyers to purchase the product.
B. Due to the Five year Development Plans and other special programmes such as electrifications, land reforms, rural credit facility, etc. there is an increase in the income of the rural population which results in increase in the purchasing power of the rural consumer. Hence they can afford to buy the product.
C. Changing life style of people in the rural has resulted in an upgradation from local or unbranded products to national brands and from low priced brands to premium brands.
• Threat:
A. When launching a product in the market the biggest threat faced by the company are the local brands. The company has to face huge competition by the local brands. There are brands which offer the same product at the same price or at a less price; this is a threat to the company.
B. As there is no proper warehouse facility available in the rural areas therefore there are chances of detoriation in the quality of the product.
MARKETING MIX
The marketing mix is probably the most famous phrase in marketing. The elements are the marketing 'tactics'. Also known as the 'four Ps', the marketing mix elements are price, place, product, and promotion.
PRODUCTS:
Usually companies treat rural markets as dumping ground for lower end products designed for an urban audience. But our company thinks differently and we will offer the rural consumers our product in such a way that they are affordable and also satisfy the rural audience. Desi Jeans (DJ) has varieties in its products. It includes jeans for men & women of all age groups. There are different products like bell bottom jeans, skirts, boot cuts, jackets, 3/4th Jeans and so on which are being offered by the company. While designing the jeans the conditions, life style and other factors are kept in mind.
PRICE STRATEGY
Desi Jeans (DJ) is a product that is specially designed for the rural crowd so it is priced keeping in mind their income. It has such a price range that serves the customers according to their needs and their budget. Its has Casual pattern from 149 – 199, Worn out jeans/ bell bottoms 249 – 299, Fashionably patterned jeans 349 – 499, 3/4th jeans (introduction) 149 – 249, Jackets 149 – 249. We have these jeans in all sizes, styles and colours.
PLACE
Desi Jeans (DJ) would be distributing its products to the local retailers in the rural markets. If the response is good then DJ would open its own outlets. Desi Jeans (DJ) has its own cloth retail store in the markets of Satara, which helps to keep in touch with the stock with the local retailers. Desi jeans have its stalls in these markets to sell their products. This stall helps the brand get a lot of customers attracted towards the products due to the various types of patterns available.
PROMOTION
Advertisement will be printed in local newspapers. That is the mother tongue either ‘Marathi’ or ‘Hindi’. E.g. ‘Loksatta’, Lokmat’, ‘Maharashtra times’, etc. Coupons worth 10% discount would also be published in the newspapers. Desi Jeans (DJ) would be airing their radio jingle during peak hours on the ‘VividBharti’ AM station, while including other stations which are available in the region. Advertisement would be played during the interval in cinemas as the rural area’s consumers are some what crazy about cinemas. Television is the most cost consuming so would be excluded Hoardings would be made and placed outside the schools, colleges and public places like markets, doctors where people frequently visit. So as they would know about the product. Other innovative mediums will also be used such as use of AV Vans, folk media, Haats, Melas, Wall Paintings, Mobile displays, Animal parade and many more.
TARGET MARKETS
Desi Jeans (DJ) has saturated itself staidly in the urban markets. Desi Jeans is all set to step into the rural market with the launch of its latest brand, DJ jeans. This brand will be positioned mainly the youth brand targeting 15-24 year old age group. The main target group of Desi Jeans (DJ) as it includes students going to colleges and work. They are more likely to be attracted to the change in fashion and jeans. They are the primary consumers. People of age group above age group above 25 and above are the secondary consumers who are being targeted by the company. They are not much influenced by the change in tend or fashion, they prefer simple jeans according to their needs.
COMPARISON WITH RIVAL PRODUCT
Other products like Levi’s, Lee, Wrangler, and Pepe are such Brands that have made a total impact on the urban audience and there is no scope for any further market exploring as the demand had reached a point of saturation here but these brands have never though of capturing the rural market and hence it is left unexplored, this market has huge potential and can prove very profitable. Before entering into this market we had conducted an extensive market research to understand the rural consumer his tastes, likes, dislikes, needs and preferences. We designed our product in such a manner all these criterias are fulfilled.
CONCLUSION
This project basically shows us the importance of emerging potential of the rural markets and how it can prove to be a market to various new products. The rural audiences have had a tremendous increase in their income after globalisation. As a result their life style has started changing, their requirements have changed, their perception has changed etc.
So the decision to market our product Desi Jeans (DJ) in rural areas is very encouraging.
ON
MARKETING OF A PRODUCT
NAME OF THE PRODUCT: - DESI JEANS
SUBMITTED BY –
LLOYD GABRIEL LOPES
F.Y.H.M.C.T
INSTITUTE FOR TECHNOLOGY AND MANAGEMENT
WORD COUNT: - 1604
MODULE NO: - B1040
ACKNOWLEDGEMENT
I hereby take this opportunity to thank all those people including our friends and colleagues who have helped us for the successful completion of the project.
I would also like to thank all my teachers who have guided me throughout the project.
But above all, I express my gratitude to our project guides Prof. Moreen Lobo and Prof. Mona Sinha for the continuous support and guidance they have rendered for the successful completion of this project.
CONTENTS
SR.NO TOPIC PAGE NO.
1.
INTRODUCTION
4
2.
BUSINESS ENVIRONMENT
5
3.
SWOT ANALYSIS
6
4.
MARKETING MIX
7
5.
TARGET MARKETS
8
6.
BIBLIOGRAPHY
10
DESI JEANS
One for All
COMPANY PROFILE:
Desi Jeans (DJ) is a product of Shah and Sons Pvt. Ltd... The identity of this company is not publicly known. Mr. Motilal shah a person from a middle class family started this company in the year 1985. Mr. Motilal shah has a proven and demonstrated track record in the Indian clothing industry. At first he started by dealing in regular garments like shirts and trousers etc., after sometime he also started dealing in jeans and t-shirts. After 10 years when the company made a huge profit Mr. Motilal Shah opened its branches into many other states like Maharashtra, Karnataka, and Bangalore etc. This company manufactures its own garments by ordering the raw materials from different areas. The raw material, which is used for making the garments basically, comes from Surat.
Desi Jeans (DJ) has been serving the consumers in the urban market for the past 6 years. DJ was introduced in the year 1999. DJ includes varieties of jeans and other related materials for men & women which categorizes different age groups.
BUSINESS ENVIRNOMENT
Ecological Environment:
The Jeans are packed in packets that are eco- friendly and are reusable and recyclable. The packets are also strong and firm enough to protect the product from any harm that can Detroit the quality of the product.
Science and Technology:
The jeans are prepared from denim and the major work is done by machines and therefore it involves less manufacturing cost and can be offered to the consumers at a reasonable price.
Consumer Needs:
The rural crowd is not much familiar to jeans and hence Desi Jeans is especially designed for the rural audience by keeping in mind their climatic conditions, their occupation etc. which requires jeans that should be rough and tuff.
Culture:
The rural crowd is very traditional and hence the product range does not include and body showing or low waist line jeans that can affect the traditions and sentiments of the rural crowd in case they are worn.
SWOT ANALYSIS
What is SWOT Analysis?
SWOT analysis is a basic, straightforward model that provides direction and serves as a basis for the development of marketing plans. It accomplishes this by assessing an organizations strengths (what an organization can do) and weaknesses (what an organization cannot do) in addition to opportunities (potential favorable conditions for an organization) and threats (potential unfavorable conditions for an organization).
• Strength:
A. As jeans are a utility oriented product it has a chance of very good demand in the rural market the pricing of Desi jeans is done in such a way that it is easily affordable by the Common rural man.
B. Desi jeans are designed keeping in mind the profile of the rural consumer. It is available in different designs and colours which will help the rural consumer to make a better choice.
C. Desi jeans have a strong distribution channel with the retailers in the rural markets. So it is easily available to the consumers.
• Weakness
A. The impact of advanced technology is not felt uniformly throughout the country as a result there are large amount of under developed people and under developed markets so it would be challenging to promote Desi jeans in the rural market.
B. The literacy rate is very low in the rural area so this results in a communication gap between the consumer and seller. It would be very difficult for the seller to explain about the product to the rural people.
C. There are problems of transporting the goods to the interiors due to no proper modes of transport and any proper road or rail facility.
D. There are proper warehousing facility available to store the products, as a result extra goods cannot be stored which can be used at the time of shortage.
• Opportunities
A. Rural market is a large and unexplored market with a potential and large population. So there is a good chance of the product to catch the market as there are large numbers of buyers to purchase the product.
B. Due to the Five year Development Plans and other special programmes such as electrifications, land reforms, rural credit facility, etc. there is an increase in the income of the rural population which results in increase in the purchasing power of the rural consumer. Hence they can afford to buy the product.
C. Changing life style of people in the rural has resulted in an upgradation from local or unbranded products to national brands and from low priced brands to premium brands.
• Threat:
A. When launching a product in the market the biggest threat faced by the company are the local brands. The company has to face huge competition by the local brands. There are brands which offer the same product at the same price or at a less price; this is a threat to the company.
B. As there is no proper warehouse facility available in the rural areas therefore there are chances of detoriation in the quality of the product.
MARKETING MIX
The marketing mix is probably the most famous phrase in marketing. The elements are the marketing 'tactics'. Also known as the 'four Ps', the marketing mix elements are price, place, product, and promotion.
PRODUCTS:
Usually companies treat rural markets as dumping ground for lower end products designed for an urban audience. But our company thinks differently and we will offer the rural consumers our product in such a way that they are affordable and also satisfy the rural audience. Desi Jeans (DJ) has varieties in its products. It includes jeans for men & women of all age groups. There are different products like bell bottom jeans, skirts, boot cuts, jackets, 3/4th Jeans and so on which are being offered by the company. While designing the jeans the conditions, life style and other factors are kept in mind.
PRICE STRATEGY
Desi Jeans (DJ) is a product that is specially designed for the rural crowd so it is priced keeping in mind their income. It has such a price range that serves the customers according to their needs and their budget. Its has Casual pattern from 149 – 199, Worn out jeans/ bell bottoms 249 – 299, Fashionably patterned jeans 349 – 499, 3/4th jeans (introduction) 149 – 249, Jackets 149 – 249. We have these jeans in all sizes, styles and colours.
PLACE
Desi Jeans (DJ) would be distributing its products to the local retailers in the rural markets. If the response is good then DJ would open its own outlets. Desi Jeans (DJ) has its own cloth retail store in the markets of Satara, which helps to keep in touch with the stock with the local retailers. Desi jeans have its stalls in these markets to sell their products. This stall helps the brand get a lot of customers attracted towards the products due to the various types of patterns available.
PROMOTION
Advertisement will be printed in local newspapers. That is the mother tongue either ‘Marathi’ or ‘Hindi’. E.g. ‘Loksatta’, Lokmat’, ‘Maharashtra times’, etc. Coupons worth 10% discount would also be published in the newspapers. Desi Jeans (DJ) would be airing their radio jingle during peak hours on the ‘VividBharti’ AM station, while including other stations which are available in the region. Advertisement would be played during the interval in cinemas as the rural area’s consumers are some what crazy about cinemas. Television is the most cost consuming so would be excluded Hoardings would be made and placed outside the schools, colleges and public places like markets, doctors where people frequently visit. So as they would know about the product. Other innovative mediums will also be used such as use of AV Vans, folk media, Haats, Melas, Wall Paintings, Mobile displays, Animal parade and many more.
TARGET MARKETS
Desi Jeans (DJ) has saturated itself staidly in the urban markets. Desi Jeans is all set to step into the rural market with the launch of its latest brand, DJ jeans. This brand will be positioned mainly the youth brand targeting 15-24 year old age group. The main target group of Desi Jeans (DJ) as it includes students going to colleges and work. They are more likely to be attracted to the change in fashion and jeans. They are the primary consumers. People of age group above age group above 25 and above are the secondary consumers who are being targeted by the company. They are not much influenced by the change in tend or fashion, they prefer simple jeans according to their needs.
COMPARISON WITH RIVAL PRODUCT
Other products like Levi’s, Lee, Wrangler, and Pepe are such Brands that have made a total impact on the urban audience and there is no scope for any further market exploring as the demand had reached a point of saturation here but these brands have never though of capturing the rural market and hence it is left unexplored, this market has huge potential and can prove very profitable. Before entering into this market we had conducted an extensive market research to understand the rural consumer his tastes, likes, dislikes, needs and preferences. We designed our product in such a manner all these criterias are fulfilled.
CONCLUSION
This project basically shows us the importance of emerging potential of the rural markets and how it can prove to be a market to various new products. The rural audiences have had a tremendous increase in their income after globalisation. As a result their life style has started changing, their requirements have changed, their perception has changed etc.
So the decision to market our product Desi Jeans (DJ) in rural areas is very encouraging.