marketting project

7/29/2019 Marketting project

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A MARKETING PLAN PROJECT

ON

VERYSIGN T-SHIRTS

ATMIYA INSTITUTE OF TECHNOLOGY AND SCIENCE RAJKOT

BATCH:-2011-2013

INTRODUCTION

As far as garment sector is concern it is growing rapidly. So, we havedecided to manufacture

T-shirts of all kind, because we are having bright future & wide

market for this product. we can can go for creativity, flexibility as far as

age, gender, social class, etc. is concern. Thus, from all the point of view

this product is beneficial for us to produce & sale in THE BEST & CHEAPESTWAY.


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ENVIRONMENTAL SCANNING & COMPETITIVE INFORMATION:

As far competition in the garment sector is concern, there is cut

thought competition in the market.

In India since 1970, Bangladesh is the prominent player in theeconomy within a short period of time.

There are various competitors in this sector like,

Ruf n tufLeeFlying machineJ. K. synthetics: Park avenueArvind mills :BangaloreMadura coat


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COMPETITORS AT LOCAL LEVEL

Sahara Impex: RajkotA T Impex pvt. Ltd.: JamnagarMaruti: Amreli

Fairdeal: NavsariJ.K. Flora Fashion: VadodaraJ.R. Fashion Pvt. Ltd.: SuratAhmadabad :

Auto wear product Kevin Clothing co. Anybody fashion Gamthi


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Hopes Pvt. Ltd. Entire overseas Dolly Clothing Inc.

Class & Age wise we can cover kids, youngsters & adults (Ladies & Jens).

So, We can say that T-shirt is a kind of product which is having very bright

long future

VALUE PROPOSITION

HIGH END DESTINATION FASHION PRODUCT

Value proposition is the whole cluster of benefits that company promises todeliver. So, we have decided to include various values in our product.

Value proposition can be provided:

-Innovative ideas in design in printing.

-Vibrant colors and continuous value addition.

Values:


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Core value proposition is that we will add value to our brand by providingmatchless garments with extensive range of colour and different sizes incomfortable and durable fabric with easy mode of cash transactions at

comparatively low prices.

SATISFACTION

1. Encourage Face-to-Face Dealings

This is the most daunting and downright scary part of interacting with a

customer. Its important to meet your customers face to face at least once

or even twice during the course of a project.

2. Respond to Messages Promptly & Keep our Clients Informed

We all know how annoying it is to wait days for a response to an email orphone call. It might not always be practical to deal with all customers

queries within the space of a few hours, but at least email or call them

back and let them know weve received their message and well contact

them about it as soon as possible.

3. Be Friendly and Approachable

LOVELY

DESIGN

LONG

LASTING

VARIOUS

SIZESCOMFORT

COLOR

RANGES


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A fellow SitePointer once told me thatI can hear a smile through the phone.This is very true. Its very important to be friendly, courteous and to make

our clients feel like were their friend and were there to help them out. Its

vital that we keep a clear head, respond to our clients wishes as best you

can, and at all times remain polite and courteous.4. Have a Clearly-Defined Customer Service Policy

If a customer has a problem, what should they do? If the first option

doesnt work, then what? Should they contact different people for billing

and technical enquiries? If theyre not satisfied with any aspect of ourcustomer service, who should they tell?

5. Attention to detail

Sending a happy holidays email to all our customers. it shows we care our

customers. It shows that we are welcoming our customers.

LOYALTY

1. Communicate with Customers

Whether it's an email newsletter, a monthly flier , a holiday greeting card,set up a system for reaching out to the customers we already have.

Dedicate time to creating and maintaining a database of contactinformation, including phone, email, and snail mail addresses. If there's a

social media element to our business, invite people to our page or websiteand keep that online element fresh.


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2. Provide Great Customer Service

Good customer service means going the extra mile to meet customerneeds. Customers remember being treated well, and positive customer

experiences result in repeat business. Pay attention to customer concernsand complaints. By letting you know when they're dissatisfied, your

customers give you an opportunity to resolve their issue and to improveyour service.

3. Build Employee Loyalty, Too

There's an old saying that "fish stinks from the head down." Put in a morepositive light, loyalty starts at the top and works its way throughout thecompany. If you're competent, you'll earn your employees' respect. If you

have integrity in all of your dealings, your employees will be proud to work

for and with you. If you're consistent in your decisions and actions anddisplay a willingness to protect your employees, you'll earn their trust.

All of these qualities will build your employees' loyalty to you and the

business. And if you're loyal to your employees, they'll feel good abouttheir jobs and pass that loyalty along to your customers.


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4. Train Employees Thoroughly

Your employees are the face of your company, and training can empower

them to make your company prosper. Training sessions should be apositive experience; boring training sessions are a waste of time and

money and foster a negative attitude toward the company.Encourage your employees to engage in training and explain how it will

help them on the job and why it's good for business. An excellent way to

teach is on-the-job training, which facilitates on-the-spot demonstration ofbest practices.

5. Provide Customer Incentives

Customer incentives give people a reason to return to your business. Theycome in a variety of forms; buy two and get one free, frequent shopper

points, rebates, adding a free service to the sale, gifts, and gift cards all

offer enticement for people to choose your business when they decide tospend their hard-earned dollars.
http://www.allbusiness.com/building-customer-loyalty/16675686-7.htmlhttp://www.allbusiness.com/building-customer-loyalty/16675686-6.htmlhttp://www.allbusiness.com/building-customer-loyalty/16675686-7.htmlhttp://www.allbusiness.com/building-customer-loyalty/16675686-6.html


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6. Promote Product Awareness

Make sure that your staff understands everything they can about yourproducts and service, including old standbys that just keep selling.

Break the business down into categories and show what's selling well, whoit's selling to, and what's not working. Talk about the history of thecompany, which products were hits, and why. Know what your steady

patrons purchase and keep these items in stock. Talk about how newproducts grow out of the old ones, and encourage brainstorming on ideasfor the future.

7. Build a Reputation for ReliabilityYour company's reputation is closely related to the reliability of your

products and service. The more reliable these are, the more likely yourcompany is to have a favorable reputation.

Be reliable, communicate clearly, honor your promises and warranties, andbe considerate of your customers' time and concerns. If something goes

wrong, let customers know immediately and compensate them for the

inconvenience.

8. Be Flexible with Policies
http://www.allbusiness.com/building-customer-loyalty/16675686-8.htmlhttp://www.allbusiness.com/building-customer-loyalty/16675686-8.html


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Remember that each customer is an individual with unique circumstancesand needs. Do everything within reason to solve customer problems or

complaints. Don't assume you understand the situation before you have

heard the customer out and made an effort to see things from their

perspective.If you demonstrate that you're listening, you have a better chance ofretaining their business, even if you can't fully solve the problem.

Responses such as "That's our policy" will ensure customers never comeback.

9. Address Customers by Name

Make sure that you and your employees get to know the names of regularcustomers. This kind of treatment makes people feel important andrespected, and is one of the reasons they'll return to your business.

Whenever possible, make a habit of sharing your name with customersright away, and encourage your employees to do the same.

ANALYZING CONSUMER MARKET

To survive long run in the market and increasing profit,we will segment themarket as per the requirement of consumer by providing valueable


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products to customers we can attract more customers, segmentation canbe done as per the age,gender,class,status etc.

AGE:

As per the age,people would buy different garments.

Gender:

The boys and girls would buy accordingly.

Occupation:

Occupation wise also people are having different needs.

By this,segmentation can be done through may ways..

COMPETITIVE ANALYSIS

(Other competitors at national level.)


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Libas implex

Achary chemtech ltd

Ocean extrusions

Shri sainath t-shirt & sweaters mfg co.

Fashion galore

Abc export company

Goodluck garments pvt ltd

Drastic

Grand fashions

Spunk

Our product can be a good challenger if certain extreme

features are given with comparatively low price.

Need for Market Segmentation

Not all individuals have similar needs. A male and a female would havevaried interests and liking towards T-shirt. A kid would not require


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something which an adult needs. A school kid would have a differentrequirement than an office goer. Market Segmentation helps the marketers

to bring together individuals with similar choices and interests on acommon platform.

Market Segmentation helps the marketers to devise appropriatemarketing strategies and promotional schemes according to the tastes

of the individuals of a particular market segment. A male model would

look out of place in an advertisement promoting female T-shirt. Themarketers must be able to relate their products to the target

segments.

Market segmentation helps the marketers to understand the needs ofthe target audience and adopt specific marketing plans accordingly.Organizations can adopt a more focussed approach as a result of

market segmentation.

Market segmentation also gives the customers a clear view of what tobuy and what not to buy.

Market segmentation helps the organizations to target the rightproduct to the right customers at the right time. Geographical

segmentation classifies consumers according to their locations. .

Target Marketing refers to a concept in

marketing which helps the marketers todivide the market into small units

comprising of like minded people. Suchsegmentation helps the marketers to designspecific strategies and techniques to promote a


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Basis of TargetMarketing

Age Gender Interests Geographic location Need Occupation

Why target marketing? (Need of Target Marketing)

Organizations can use similar kind of strategies to promote T-shirtwithin a target market.

They can adopt a more focussed approach in case of target marketing.They know their customers well and thus can reach out to their targetaudience in the most effective way.

How to create Target Market

The organization must first decide who all individuals would fit into aparticular segment. A male and a female cant be kept in the samesegment. The first and the foremost step is to decide on the target

market.

The next step is to identify need and preference of the target market.It is essential to find out what the target market expects from the

product. Once the target market is decided, organizations can decide on the

various strategies helpful to promote T-shirt.

It is the responsibility of the marketers to create awareness of their

products amongst the consumers. It is essential for the individuals to be

aware of the brands existence. The USPs of the brands must becommunicated well to the end-users.

An organization cant afford to have similar strategies for productpromotion amongst all individuals. Not every individual has the same

T-shirt amongst its target market..


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requirement and demand.

The marketers thus came with the concept ofSTP.

STP stands for:

S - SegmentationT - Targeting

P Positioning

The first step in the process of product promotion is Segmentation

The division of a broad market into small segments comprising of

individuals who think on the same lines and show inclination towardssimilar products and brands is called Market Segmentation.

Market Segmentation refers to the process of creation of small groups(segments) within a large market to bring together consumers who have

similar requirements, needs and interests.

In simpler words market segmentation can also be called as Grouping.

Kids form one segment; males can be part of a similar segment whilefemales form another segment. Students belong to a particular segmentwhereas professionals and office goers can be kept in one segment.


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Targeting

Once the marketer creates different segments within the market,he then devises various marketing strategies and promotional

schemes according to the tastes of the individuals of particular

segment. This process is called targeting. Once market segments arecreated, organization then targets them.

Organizations with the help of various marketing plans and schemes targettheir products amongst the various segments.

Positioning

Positioning is the last stage in the Segmentation TargetingPositioning Cycle.

Once the organization decides on its target market, it strives hard to createan image of its product in the minds of the consumers. The marketers

create a first impression of the product in the minds of consumers throughpositioning.

Positioning helps organizations to create a perception of the products in theminds of target audience.


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BRANDING STRATEGY

No company can win if its products & services resemble every other

product & offering. As a part of the strategic brand management process,each offering must represent a distinctive big idea in the mind of the targetmarket.

BRAND NAME:

VERYSIGN T-SHIRTS

BRAND EQUITY POSITION:

As far as local area is concern mostly there are no one stores or factories

available which produces only T-Shirts for every class people as well as forevery age people. So, at local level we are the initiator so our equityposition would be strong in the market.


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STRATEGY FOR DEVELOPING THE BRAND

Our target is to make people very well aware about our product & brand

name and make them to buy our product. Thus, because of the widermarket of our product we will try to cover maximum market.

Because of a huge production we will be able to sale the product at

cheaper price.

After building a good & strong brand name we will have to start our ownstores out of our local areas.

DIFFERENCIATED BRAND POSITIONING:

Generally, there are less no. of factories producing only T-Shirts for allsegment people. we are in the market where we can cover maximummarket for our product.

Because of a huge production we will require more inventory & we will get

that at cheaper price.

We will use different pictures, logos & slogans which will definitely

differentiate our product & brand than others.


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SETTING THE STRATEGY

Differentiation:

*Form

t-shirts would be produced according to the form like size andshape.

*Durability

A measure of the products expected operating life.

We will provide the best Quality of cloth that will be long lasting.

*Price

We will provide the t-shitrs at comparatively lower price.


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SETTING THE PRICE

Price is decided according to several factors like:

1.selecting the pricing objectives

2.determinig demand

3.estimating costs

4.analysing competitors prices

5.pricing method

6.selecting the final price

we will determine the price according to the value pricing.

We will try to win loyal customers by charging a fairly low price for a high-

quality offering.


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Designing and Managing Integrated Marketing Channels

Marketing Channels Function

A) Provide information about product (T-shirt)B) Maintain price stability of the T-shirtC) Promotion of the product on its territoryD) Middlemen also take the title of T-shirt of trade in their owner


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Type of Marketing Channels

Managing Retailing , Wholesaling , And Logistics

Retailing

The act through which goods and services reach the end customer for

individual or business usage is known as retailing.

Wholesaling

The act of purchasing goods for consumer and industry for further resale is

referred to as wholesaling. Here, manufactures and farmers are not

considered as wholesalers.

Marketing Logistics

The supply chain management is essential for companies to improve

productivity and reduce costs. The purpose of marketing logistic is to

design and implement infrastructure, which will deliver goods from thepoint of origin to point of sell in an effective and least cost manner.


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INTEGRATED MARKETING COMMUNICATION

Communications are means by which firms attempt to inform & remind

consumers directly or indirectly about the products & brands they sell.

There are various platform of communications.

AdvertisingSales promotionEvents & experiencePublic relations & publicityDirect & interactive marketingWord of mouth marketingPersonnel selling

But we are using some of them communication medium like

Advertising :We will do advertising for our product in local news papers ,red fm,

and big fm ,posters and leaflets ,symbols & logos.

Sales promotion :For sales promotions we can do fairs & trade exhibition shows.

Events & experiences :Events & experiences like sports street activities etc.

Public relation & publicity :By using magazines by doing charitable donations, publications community

relations ,speeches etc.


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Direct & interactive Marketing :For direct & interactive marketing we will use following media :

- Catalogs- Websites- Fax mail- E mail


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MANAGING MASS COMMUNICATIONS

Advertising is any paid form of non personal presentation & promotion of

ideas, goods or services by an identified sponsor.

MISSION:

Sales goal:

Our goal is to cover maximum market by selling our product into themarket through spreading awareness in the market about our product.

Advertising objectives:

To make people aware about our product To give information about the product To attract people to buy our product To show our existence into the market To compete in the market

MONEY:

Our product life cycle stage is initial. So, we will have to spend more in

advertising as preliminary expenses.


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MEDIA:

We are planning to use below advertising media because these arethe medias through which we are able to advertise for our product.

We can reach to each and every segment of the market by thesemedias.

Now a days radio, sponserships, printing papers are medias

through which we can reach easily and speedily to our customers.

We will go for:-

-Print media

-Newspaper

-Radio ads

-Internet

-Out door

-Billboards

MESSAGE:

We will use various pictures, logos & slogans (i.e. related to

environmental issues, morality, spirituality,etc.) which itself will spread agood message.


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DIRECT MARKETING

CHANNELS

DIRECT MAIL

Direct mail marketing means sending an offer,announcement,reminder,or other item to an individual customer.

Direct mail is a popular medium because it permits target marketselectively,can be personalized,flexible and allows early testing and

response measurement.

So we can use direct mail service for direct marketing for our

product in taking the consideration of target markets,prospects,offer elements etc..

Catalog marketing

Catalogs are generated generally in printed form and alsosometimes CDs,videos or online.

As our product is readymade garments,we will go for the printedform of catalogs.

Word of mouth

Social network sites are used now a days to promote thecampaigns,events,products etc.

So we can create a page and make people aware about theproduct.

Other media

Radio ads present offers 24 hours a day.

So can make aware people through radio communication also.


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CONSUMER ADOPTION PROCESS

AWARENESS

The consumers become aware of the innovation but lacks in

information about it.As we introduce a new innovation,its neccessary to make aware about theproduct.

As we use the channels for direct marketing,we can do the same for

awareness about new innovation.

INTEREST

The consumer is simulated to seek information about theinnovation.

As the consumer be aware about the innovation,he tries to seek moreinformation about it.

EVALUATION

The consumer considers whether to try the innovation.

The thought process of decision. After getting enough information,theconsumer starts evaluating it. Whether to try it or not.

TRIAL

The consumer tries the innovation to improve his or her estimate

of its value.

After evaluating the information,the consumer seeks to try it.

ADOPTION

The consumer decides to make full and regular use of theinnovation.

There are some factors that affects the adoption of new innovation likereadiness to try new products and personal influence,characteristics of theinnovation and organizations readiness to adopt innovations..


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As our product is garments so consumers would not take much time toadopt the new innovations...

It will not be targeted to specific users rather we make everyone aware

about and influence whole mass to adopt the innovation

marketting project

Documents