Indian Fashion A suggested answer Marketing Product: Technical product: Designs, cloth etc Functional Product: Formal wear (As specified in the case it has to be marketed as Formal wear) Emotional Product: Rebel need to socially acceptable (since western style is socially accepted and Indian fashion is not socially acceptable, the product has to be marketed as a rebel need and slowly shifted to Social acceptance). Marketing Universe: 1) Executives and 2) Schools Competition: Western style Marketing Environment (partial list) Parameter |Environmental variable |O/T |What to do |S/W | |Product related |Availability of raw material (shortage) |T |Focus first in areas where product |S | | | | |available | | | |Skilled designers |T | | | | |Production- unorganised |T |Form cooperative |W | |Functioning related |Accessories (footwear etc) |T |Develop supply chain to areas where |W | | | | |clothes available | | | |Easiness to wear |T |Teach them young |S | |Utility related |Not having value |T |Change mind set |W | |Demand related |MNC’s entering |T Develop Patriotic image |W | | |Indian companies |O | | | | |Salary structure-increasing |O |Change mind set |W | | |Recession-jobs decreasing |T |Not an issue given our capacity |S | | |Schools prefer western style |T |Build patriotic feeling |W | |Acceptance (macro) |Political parties favouring Indian dress |O |Try to use them to build legal entry |W | | | | |barriers | | |Micro |Grand parents acceptance |O |Build ad themes using grandparents |W | | |Present generation parents |T |Build patriotic feeling |W | |Marketing related |Low acceptance by retailers |T |Need to give high margins |W | | |Availability of advertising agencies |O |Need to pay like MNCs |W | | |Creative people thinking is western |T |Develop in-house creative team |S | Marketing Implications based on Environmental analysis Product and Functioning related variables indicate low availability: Need to identify rebels in specific areas (where product is available). Develop Supply chain to ensure accessories reach the areas where the marketing is done. Supply: Build direct supply arrangements. Change mind set to create utility Product performance risk: high (because it is difficult to wear). Teach them when they are young Social risk- Create patriotic feeling to build social risk Use political parties to build support (region wise- starting from areas where supply is adequate).
Build Quality perception using Search Attributes: Designs, colours Experience attributes: Comfortable in all seasons Credence attribute: National Pride Other information for developing Marketing Plan: Buying behaviour: Variety seeking in the product category (formal wear). Competitive analysis of formal wear market Entry barriers Production entry barriers: Low Legal entry barriers: Low Brand entry barriers: Low Market structure Number of players: Several Demand supply: Supply greater than demand Dominance: No brand has dominance Market conduct High reminder advertising Push based marketing Price sensitive market Market Performance
Don’t waste your time!
Order your assignment!
Likely to have a threshold market share beyond which it may not be profitable (assumption) Suppliers bargaining power Low Buyers bargaining power High Implication based on available information: Influence buyer about Indian fashion to enter into formal wear product category (using rebel need). Can start with some schools by influencing the Principals. Suggested Marketing Strategy Need: Patriotism Target: Geographic area as defined by environment analysis (can start with some private well known schools). Identify schools from different regions and slowly expand the number (a strategy adopted by Ujjala against Robin Blue) Positioning:
The Positioning stages would be as follows: Generic Positioning: Associate Indian fashion as a formal wear Perceived quality/ perceived price: Value for money Attribute positioning: Comfortable, all season wear Emotional Positioning: Indian fashion associated with patriotism. Product strategy: Traditional designs (easy to wear designs) Pricing strategy:Value for money (since we wish to move to socially acceptable need) Place strategy:Exclusive arrangement for supply of uniform Promotion strategy:Associating with the spirit of Being Indian Distribution of marks Marketing Product 10 marks Marketing environment15 marks Marketing plan15 marks