Although company’s profits are increased in last 68 years. Now company is planning to expand the business due to cough competition in textile production and the management Is also thinking to apply some new marketing strategies with existing strategies to raise Its sales. “What marketing strategies should MGM use to Increase Its sales” Theoretical Background Research proposal is started with mugging up different marketing strategies which were apt for the Mom’s strategies for marketing. It also analyses the current marketing strategies of MGM which are already being used.
Afterwards analyses of the new marketing strategies which company might be planning to apply In future. Focus of research Is on effects of new marketing strategies on sales of MGM. Methodology 1 . ) Availing books and websites to know about different marketing strategies 2. ) Interview of Mr.. Shish Imaginings the director of MGM 3. ) Interview of Mr.. Regard Kumar Stall (The Technical Manager of MGM) 4. ) Analysis of present marketing strategy of company by a diagram. 5. ) Analysis of new marketing strategies that company wants to apply with the help of a graph.
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Conclusion 7. Bibliography Executive Summary Mohamed Cotton Mills (MGM) is a manufacturer and exporter of fabrics, mans wears suiting, under garments and TRY suiting. It is located in Billiard city which is very famous for national & international textile market in the production of suiting & shirting. In the beginning company produced the same product as competitors but later on it started production of different designs of fabrics which change its local market into national and now in international market.
In initial stage company used moderate rates to enter into national market. Then company appointed experts who advised to produce different designs of products other than competitor which was a great decision of management because it changed company’s national market into international market. This decision was economically profitable for company too. Now Billiard has become a textile hub so it is necessary or company to apply some new marketing strategies to face tough competition and to expand the business to increase its sales and market share in national market.
The strategies which company wants to implement will really very beneficial in terms of economically, they will bring a drastic change in company’s turnover and will get a guaranteed position in best 20 companies of Billiard. Introduction Late Shari Admiral Imaginings established a small scale textile factory “Mohamed Cotton Mills” in the year 1944 in Billiard city which is known for national & international textile market in the production of suiting’s ; shirting. The main purpose to start this business was to contribute economically in development of Billiard.
It started production as weaving unit but gradually it started also production of fabrics, mans apparel suiting, hosiery and TRY suiting. In the first 2-3 years company covered only local market. Then company selected some agents to cover national market. It was an impersonal promotion tool but was not so effective. After that management appointed two experts who advised to supply different designs of fabrics to attract more and more customers. This advice was crucial for the company’s future and it got export orders. On the other hand Billiard became a hub of manufacturers of suiting and shirting.
Today it is necessary to apply those marketing strategies which are enabling them to compete and to expand via. Use of advertisement in National Magazines, connect to new retails by mails and personally and organizing a contest. These new strategies have really changed the company’s performance in terms of a secured position as in at the best is 20 companies. Survival of any company depends on its earning capacity which is directly related to sales promotional tools. So to start research proposal it was necessary for me to clear he concept of marketing strategies in which books and websites help me a lot.
I presented possible marketing strategies in a diagram. For completing the investigation I interviewed Mr.. Shish Imaginings Director and Marketing manager of “Mohamed Cotton Mills”. He explained about current marketing strategies of company and their effects on sales. I presented company’s turnover from 2005 to 2011 in graph form. He also explained about new marketing strategies which company wants to apply to augment its sales and to secure a position. I presented company’s existing and upcoming marketing strategies also. I also interviewed Mr..
Regard Kumar Stall (The Technical manager of firm) who explained about their new strategies to expand this company growth in spite of tough competitions by others. He discussed about advertisement in magazines, directly connecting to retailers and a benefit scheme and contest for retailers and agents. Research was incomplete without the investigation of other companies of this industry. So, I interviewed only Mr.. Sham Sahara Director of Kyoto textiles. It was not possible to collect data from other companies as they want to keep their privacy over this matter. Main Findings
Company produced goods according to their order and supplied. But after some time agents started complaining that they were facing problem to sell their whole stock and they were having unsold stock. To solve this problem management advised to agents that they would inform about demand of retailers and then company would supply in an agreed period. It was a good decision in favor of agents. When Mr.. Shish Imaginings Joined, he came with innovative ideas. To bring changes in the market share he appointed two experts for advising the company.
Both professionals analysis the market’s demand and advised to produce the different and unique designs of fabrics. Company implemented this strategy and started their production on that track which led the company to the elite group. Company’s local market was converted into national and national into international market. There was a drastic change in the performance of company which increased the company’s earning capacity. Although the productions of different designs were difficult one for the employees and they resisted for this.
But company accepted this challenge and use attractive motivational incentives policy to attract employees. To per in this task finally company succeeded with full confidence. He also provided data of turnover from 2005-2011 which I have presented in the following table and graph: Year I Cloth Practitioner Per month I Turnover I 2005 | 3. 4 Lack | 35 core I 2006 | 3. 60 Lack 1 corner I 2007 | 3. 85 Lack | 38 core I 2008 | 3. 85 lack | 38. 5 creel 2010 | 4. 15 lack | 44 core | 2011 4. 5 Lack meter Per month | 4. 5 lack | 47 core I Company also changed its packing to differentiate its products from competitors.
Changed packing was very attractive and played a important role in increasing company’s sales. Company also applied discount strategy for a short period to attract ore customers and it also increased turnover. Now company is planning to expand its business and also wants to secure a fixed position in hub of textile by continuously applying some new marketing strategies. These strategies will make company to face the tough competition of textile city with expansion of company which will place its position in the best elite companies of Billiard. Company appointed Mr..
Regard Kumar Stall (technical general manager, MGM) who is very experienced and good enough in technical Jobs and brilliant in marketing strategies as he has worked in large scale companies for a long period. He has his vast experience to implement new sales promotional tools. By advertisement in national magazines to make popular its unique designs they even make customer to be familiar with this brand. He is also advising to connect new and existing retailers directly instead of depending on agents only. “Personal relations are always better then impersonal”.
So it is better that company will send mail to retailers in which company explains about its production capacity and different and unique designs. If company gets any response then it will send its marketing executives to explain more about company. He also advice that if company will organize a contest and invite those retailers and agents who will contribute in raising the sales and a cash prize of RSI. 50,000 will be awarded to winner and gifts to every participants. These new strategies will play a vital role in changing performance of company and make sure the guarantee of success as a leading company in list of best 20 companies.
Company’s competitors are also using different marketing strategies like Sang group has made Sunnis Sheets famous actor and Viral Kohl famous cricketer as their brand ambassadress, Kyoto collections is using pricing strategies to increase sales. Finally al these new strategies are vital for the company’s earning capacity. Analysis Some basic is always necessary for the analysis of any research. In the beginning as a secondary data collected through books and websites diagram of elements of marketing mix and sales promotion tools are showed to know the concept of marketing and its strategies.
I used the primary data which is given by Mr.. Shish and Mr.. Stall in their interviews. Company’s turnover is presented in graph form. I also presented company’s existing and upcoming marketing strategies though a diagram. I framed research question after understanding the concept of marketing traceries with the help of many books and web sites. These strategies are necessary in promoting sales of a company with which company able to survive and face competition if these are implemented. A company can apply the strategies of diagram 1 . Secondly I used the information given by Mr.. Shish and by Mr.. Stall as a primary data.
Mr.. Shish told that in beginning company produced same design of company’s product in national market as there was no direct contact with retailers. Company produced products and then supplied to agents. But after sometime agents started complaints about unsold production which was purchased by them on this Asia that they will sale on their risk. To solve this problem management decided that agents would firstly collect the actual order from retailers and then company would supply in an agreed period. These decisions solve the problem of agents and they started taking interest in increasing turnover of the company.
It reduces wastage of sources and also increased company’s turnover. Company also changed packing of products. It also boosted the turnover. It was different from their competitors and also very attractive. Company also applied strategy of discount for a fixed period to attract more and more customers. Company changed the policy to produce only one type of fabric and started the production of different and unique designs of fabrics as per the advice of experts. This strategy was a major decision which change company’s whole image because this company had now a separate image than its competitors.
This strategy raised the demand of company’s products in national and international markets. It is necessary for any company to update its marketing strategies from time to time as per demand. Now when competition is increasing day by day in Billiard, company is planning to apply those strategies which will aka easy for company to face tough competition and expansion of the company. When company will connect to new and existing retails by mail then definitely they will response and in return marketing executives of company will connect them and surely get orders and it will increase the turnover of company.
Personal relations are always fruitful than comparison to impersonal one because it is easy to discuss everything very frankly and there will be no chaos and conflicts. Retailers will feel better if company will start personal relations by sending mails and after the response company’s executives will explain more about company’s products. Another strategy to advertise for company’s cloths with unique designs will play a vital role and established a brand of company.
Company will become more popular after using this strategy and hope that the potential customers will enquire about company’s products. Another new marketing strategy more organizes a contest for retailers and agents who are contributing in increasing company’s turnover by allowing the introduced new exclusive designs of company. Company will give RSI. 50,000 to winner and other valuable gifts to every participant. In this contest participants will enjoy and become more familiar with company. The following diagram is representing about existing and upcoming market strategies of company.
From the above data it can be concluded that these techniques should be adopted according to some terms and conditions. Excessive use of these types of techniques will ruin the image and reputation of the firm. However the best method or the key element to increase or promote the sales is to increase its quality as per the satisfaction of the customers and increase the production. Increase in production will lead to the decrease in average cost per unit which will lower the cost of the product. So the demand will automatically increase. More and more customers will be willing to purchase the product.
They should be used intelligently not blindly. My research proposal ends with this result that Mom’s future is bright due to its new marketing strategies. These strategies will provide a secure position to company in the best 20 companies of Billiard. New strategies of MGM to direct contact new and existing retailers by mails, advertisement in national magazines and contest for retailers and agents will definitely change the future performance of company I don’t wanted to recommended any new strategies to company because experts of this company are ell experienced and applying only damnable and harsh marketing strategies.