Beruflich Dokumente
Kultur Dokumente
CERTIFICATE
This is to certify that Mr. Nawaf Ghansar, student at Rizvi Institute of Management Studies & Research; M.M.S III bearing Roll No. 70 and specializing in Marketing has successfully completed the project titled
under the guidance of Prof. Aditya Rao in partial fulfilment of the requirements of Master of Management Studies by University of Mumbai for the academic year 2009-11.
__________________ Prof. Aditya Rao Summer Project Guide Rizvi Management Institutes
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ACKNOWLEDGEMENTS
The success of this project depends largely on the encouragement and guidelines of many. I take this opportunity to express my gratitude to the people who have been instrumental in the successful completion of this project. I take immense pleasure in thanking Dr. Kalim Khan, Director Rizvi Institute of Management Studies & Research, for having permitted me to carry out this project work. I wish to express my deep sense of gratitude to my mentors at Siyarams, Mr. Parvez Alam (Asst. General Manager - Marketing) for his able guidance at each step and useful suggestions, which helped me in completing the project work, in time. I would also like to thank the entire Siyarams team in the Furnishing Department and others for all their valuable assistance in the project work and their timely inputs. Besides, I would like to thank the staff of Siyarams for providing me with a good environment and facilities to complete this project. The guidance and support received from all the team members who contributed and are contributing to this project, was vital for the success of the project. I am grateful for their constant support and help. Words are inadequate in offering my thanks to my Summer Project Guide Prof. Aditya A. Rao for his constant feedback, encouragement, patience and cooperation in carrying out the project work. Finally, yet importantly, I would like to express my heartfelt thanks to my beloved parents for their blessings, my friends/classmates and relatives for their help and wishes for the successful completion of this project.
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TABLE OF CONTENTS
TOPIC # PARTICULARS PG #
1 2 3 4 5 6 7 8 9
Executive Summary Introduction Company Profile Industry overview Objectives of the study Research Methodology Analysis of data Recommendations and conclusions Appendix Bibliography
5 6 9 10 11 12 44 45 51
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EXECUTIVE SUMMARY:
The end goal of this project is to find out the current performance of the major players in the furnishing industry in the states of Chhattisgarh, Jharkhand and Orissa and also to find out the consumer preferences.
For this a study was undertaken through which responses were collected from furnishing retailers and consumers of furnishing products especially upholstery and curtain fabric so as to find out how Siyarams could venture into the above mentioned markets.
To understand this, questions were asked on the material, colour, price, shopping preferences of the consumers. With the data collected we wanted to show an appropriate method through which Siyarams could enter into the three states of Chhattisgarh, Jharkhand and Orissa.
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INTRODUCTION:
Among the creators of fashion and fashion trends in India, one name stands head and shoulders above the rest, a company that has stayed contemporary with a vision well-focused on the future.
Siyarams, a part of the Rs.1250 cr. well diversified Siyaram Poddar Group, is one of the largest producer of fancy blended suitings and shirtings in India producing 3.00 cr. meters annually and is reputed to bring new designs in to the market faster than any other manufacturers. Siyarams high-tech plants at Tarapur & Silvassa are the most modern plants where latest shuttle-less Dornier Rapier, Sulzer Projectile & Toyoda Air Jet weaving machines with electronic dobby has been incorporated. The world-class processing-cum-finishing plant at Tarapur is one of the latest and most modern plants in the country equipped with machineries imported from Japan, Italy, U.K., Germany and Switzerland etc. This is the only plant in India which can process various blends like polyester-viscose, poly-wool, polyester-cotton, 100% cotton and 100% polyester, under one roof. Siyaram is the first company to introduce Relaxed Finishing System RF 2000 in India. In the year 1995 Siyarams had tied up with J.HAMPSTEAD, England for marketing of very fine premium wool suiting in India. These suitings are woven from the exclusive and rich natural fibres merino wool, cashmere, kidmohairwool and wool silk. Looking to the increasing demand for the wool blended suitings, Siyarams has started manufacturing of finest wool blended suitings under J.HAMPSTEAD brand using fine micron merino wool imported from Australia and super fine polyester with technical assistance from J.Hampstead. Siyarams also launched worlds all-in-one fabric `FEATHERZ which is created from speciality yarns made of superior micro fine fibres. This suiting is available in varied premium blends of Cotton, Flex, Poly/Visc, Linen Lycra etc. MISTAIR an established brand is also from the house of Siyarams. Mistair is highly popular today among young generation because it keeps introducing innovative and fashionable suitings from time to time. The sub brands introduced by Mistair are Luxuria, M-brace, Envogue, Lords & Kings, Breathers & Hi-flier.
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In FY07, it formed two subsidiaries namely Siyaram Polycote Ltd and Oxemberg Clothing Ltd. The company operates five weaving plants, two yarn plants, and two readymade garment plant spread across Maharashtra and Gujarat. It has an installed capacity of 409 looms, 616 stitching machines, and 4,500 tons of yarn dyeing capacity, of which 1,500 tons were installed in FY07. Siyaram Silk has also ventured into retail, opening a few shops where all its brands will be under one roof. Siyaram Silk exports to countries in Europe, the Middle East, Africa, Australia, America, and Latin America. Siyaram Silk Mills is the market leader in the Polyester Viscose (PV) segment, with a reputation of ushering in the latest fashion trends. It is one of the largest players in the market with a weaving capacity of over 25 lakhs meters every month. Siyaram is one of the pioneers in the Indian fashion industry and after over 25 years in the industry, it still ranks amongst the top companies in India. Siyaram is involved in the manufacture of synthetic yarns and specialized fabrics like Polynosic and Tencel. Equipped with the state-of-the-art weaving machines, Siyarams ensures that the fabric produced is flawless. Siyaram has one of the most modern processing and finishing plants in India. It is equipped with the latest world-class machinery imported from Europe. Superior quality is the hallmark of Siyaram's fabrics. SSML spends INR 180 Million for the brand building exercise. The advertising campaigns of the company have effectively built a positive image placing all its brands - SIYARAMS, MISTAIR, J.HAMPSTEAD, FEATHERZ & OXEMBERG up front in dress circles.
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Prominent sporting personalities like M. S. Dhoni, Boris Becker, Leander Paes, Mahesh Bhupati and Geoffrey Boycott have been associated with Siyarams. Recently in March 2010, Siyaram Silk Mills has added a shining star to its existing galaxy of brand ambassadors by signing on the young boxing sensation Vijender Singh as their new face. Singh will represent Siyarams brands -- Messari, Elanta and Tropez suitings. Oxemberg, the formal and semi-formal apparel brand from Siyaram Silk Mills, has roped in Bollywood actor Neil Nitin Mukesh as its brand ambassador. This was done to reinforce the positioning and concept of Body Music -- Clothes that move to my rhythm -Oxembergs tagline.
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INDUSTRY OVERVIEW:
Home furnishing industry in India is under the purview of the textile industry in India; which is one of the largest segments of the Indian economy. The Indian textile industry accounts for Indias industrial production. This industry has successfully provided employment to a large chunk of Indias population. India is now one of the global leaders in cotton production and is leading the way in using organic dues and fibres. India remains one of the major exporters of cushion covers, bed and bath linen when compared to market worldwide. India is renowned for its spectacular range of home furnishing, which includes curtains, upholstery and sheers etc. India is powered by years of experience skilled professional, state-of-the-art manufacturing & finishing machinery and designing equipment. Post liberalization, the Indian government has opened up opportunities for FDI and the industrial environment is favourable for number of industries to flourish. The real estate boom accompanied by rising incomes has especially contributed to a large number of Indian households opting for home improvements and home furnishings. Spinning remained a household job in most rural areas till recently. Mahatma Gandhi brought handlooms back into focus during the countrys struggle for independence as a way to resist the foreign rule in India. Although with the introduction of manmade fibre which is more durable and affordable, a large segment of market has been affected yet handloom home furnishing remains a favourite profession for many. Production centre for the various textiles used in home furnishing industry have remained the same. Among the most popular home furnishings made in India are for floor covering such as carpets, rugs and window dressing. Overall industry of home furnishing of India is approximately 30,000cr. share of window dressing and upholstery etc. would be is approximately 30%. So, industry size for curtains and upholstery is approximately 9,000cr. , out of which approximately 75-80% share has been occupied by unorganized sectors. Total industry turnover of organized sectors would be (Indian domestic consumption) approximately 800cr. Out of this almost 45-50% market share has been occupied by only two players i.e. G.M. and D.C. Share of unorganized sector is 2,750 crores and is decreasing day by day and getting converted in to organized sector at 4-5% annually. After the introduction of CUT SERVICE format, it is expected to double in the next 2-3 years.
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RESEARCH METHODOLOGY:
Research Design : Quantitative Exploratory as much is not known about these markets.
Sampling Area
Size of Sample
: Retailers 20 in Chhattisgarh, 17 in Jharkhand and 13 in Orissa. Consumers 21 in Chhattisgarh, 15 in Jharkhand and 13 in Orissa.
Limitations: The sampling method used for this project had to be convenient sampling as much was not known about these places. Not many retail outlets for furnishing are there in these states thus restricting the size of the sample.
Data collection strategy: The questionnaire method was used to collect data. Interviews were conducted face to face. The questionnaire was designed on a quantitative model.
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ANALYSIS OF DATA
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ANALYSIS OF RETAILERS:
Question How many brands of curtain fabrics do you stock?
Chhattisgarh
Jharkhand
Orissa
Sample Size
20
17
13
Average
5.95
8.18
6.08
Interpretation: The probability that retailers in Jharkhand would keep Siyarams brand is more as they tend to stock a variety of brands.
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Question If you sell 100 curtains, how many are plain, floral, textured, stripes, geometric or others?
Base: All number in percentages. Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.
Interpretation: In Chhattisgarh, the Stripes pattern is in more demand but there is some or the other market for all kinds of patterns. Thus it proves to be a good market in which a pattern can be introduced. Floral pattern is widely used in Jharkhand and Orissa.
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Question If you sell 100 curtains, how many are cotton, silk, polyester or others?
Base: All number in percentages. Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.
Interpretation: Polyester fabric is dominant in these markets. Orissa does have a considerable large market for Cotton curtain fabric. Silk fabric curtains consumption increases as we move from east to central India.
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Base: All number in percentages. Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.
Interpretation: Sales are no longer dependent on festivals as far as furnishing is concerned. Orissa market sales still seem to depend on festivals to an extent.
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Question What is the price range (per meter) of the curtains which sell the most?
Base: All number in percentages. Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.
Interpretation: Sales in the Less than Rs. 100 per meter range increases from central to eastern India. Sales in the Rs. 101 Rs. 300 per meter range decreases from central to eastern India.
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Question Could you please provide us with the approx. quantity sold (per month)?
Base: All number in percentages. Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.
Interpretation: Jharkhand has retailers who have large sales and will prove a good market for Siyarams to enter into.
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Base: All number in percentages. Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.
Interpretation: Chhattisgarh has accepted and uses the Cut Service format almost twice the time being used in Jharkhand or Orissa.
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Question What is the delivery schedule of the distributors for cut service?
Base: All number in percentages. Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.
Interpretation: Chhattisgarh and Orissa manage to get their delivery more quickly due to their nearness to the main markets of Mumbai and Kolkata.
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Question What is the delivery schedule of the distributors for roll format?
< 15 days
16 - 30 days
31 - 45 days
5.2 5.2 5.2 11.8
46 - 60 days
7.7 7.7 88.2 84.6 Orissa
84.4
Chhattisgarh
Base: All number in percentages.
Jharkhand
Interpretation: The delivery for most retailers across the three states is the same, as roll format is usually sent in bulk through trains.
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Catalog
Rolls
40 20 94.1 100
Base: All number in percentages. Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.
Interpretation: The Cut Service format is preferred in Chhattisgarh and not in the other two states. In Orissa, the only preferred format is the Roll format.
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48" 15 12
54"
23
85
88
77
Chhattisgarh
Base: All number in percentages.
Jharkhand
Orissa
Interpretation: Across the three states of Chhattisgarh, Jharkhand & Orissa the 48 inch curtains are sold the most.
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Chhattisgarh
Number of retailers 15 10 5 0 Siyaram's GM Dicitex Copper Furnishing brands Others
Base: All figures mentioned are in numbers. Sample: 20 retailers from Chhattisgarh.
Jharkhand
Number of retailers 4 3 2 1 0 Siyaram's GM Dicitex Copper Furnishing brands Others
Base: All figures mentioned are in numbers. Sample: 17 retailers from Jharkhand.
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Orissa
Number of retailers 4 3 2 1 0 Siyaram's GM Dicitex Copper Furnishing brands Others
Base: All figures mentioned are in numbers. Sample: 13 retailers from Orissa.
Interpretation: GM and Dicitex catalogs are widely available in Chhattisgarh and Jharkhand. But in Orissa Siyarams is on par with the market leaders.
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Want
100
88 45.5
Chhattisgarh
Base: All number in percentages.
Jharkhand
Orissa
Interpretation: Demand for Siyarams catalogs is there in Chhattisgarh and Jharkhand but not in Orissa. This is more due to the fact that Cut Service format does not work in Orissa.
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15 - 30
30 - 45 17.65
50 70.59 45 5 Chhattisgarh
Base: All number in percentages.
46.15
11.76 Jharkhand Orissa
Interpretation: As we go from central to eastern India, it can be noted that the time to purchase curtains keeps on decreasing. While people in Chhattisgarh may take more than 45 minutes or even a couple of days, most people in Orissa manage to decide on their purchase in less than 15 minutes.
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Male
Female
71 100
69
29 Chhattisgarh
Base: All number in percentages.
31 Orissa
Jharkhand
Interpretation: All three of the markets have women who decide on the furnishing buying decision. Thus it becomes vital to attract them or make advertisements targeting the women consumers.
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Question Do you think the brand name of Siyarams will positively influence the customers choice?
Yes 25 29
No 31
75
71
69
Chhattisgarh
Base: All number in percentages.
Jharkhand
Orissa
Interpretation: Siyarams brand name will positively impact the customers across the three states especially because it is the only recognized brand in the furnishing industry.
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Necessity
Lifestyle
Both 16.6
46.7
Jharkhand
Orissa
Interpretation: For consumers in Orissa curtains are a necessity. Thus it will not prove to be a good market for Siyarams as its products are priced a bit higher. On the other hand, Chhattisgarh and Jharkhand will prove to be an equally good market.
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2 - 4 yrs 6.6
4 - 6 yrs
33.4
40
71.5 53.4
66.6
Chhattisgarh
Base: All number in percentages.
Jharkhand
Orissa
Interpretation: Most of the consumers across the three states change their curtains every two years thus providing a good market.
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Light
Medium
Dark
40.1
33.3
76.2
26.6 33.3
33.3 Jharkhand
33.4 Orissa
Interpretation: The preference for Dark color shade curtains decreases from Chhattisgarh, to Jharkhand, to Orissa.
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< Rs. 100 Rs. 300 - Rs. 500 > Rs. 1000 9.5 14.5 33.3 26.6
16.6
40.1
66.8
42.7
Chhattisgarh
Base: All number in percentages.
Interpretation: The most popular price range is between Rs. 100 Rs. 300. Thus most of the designs that Siyarams comes out should be between this range.
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Occasion
Season
As per need
46.6 66.75
58.4
53.4
41.6
Jharkhand
Orissa
Interpretation: In Chhattisgarh and Orissa the purchase of curtains depends on when the consumer feels the need. In Jharkhand, the majority of the sales depend on festivals.
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Occasion
Season
As per need
46.6 66.75
58.4
53.4
41.6
Jharkhand
Orissa
Interpretation: In Chhattisgarh and Orissa the purchase of curtains depends on when the consumer feels the need. In Jharkhand, the majority of the sales depend on festivals.
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Question Do you look for discounts or other offers before purchasing curtains?
Yes
No
62
46.6
41.6
38 Chhattisgarh
Base: All number in percentages.
53.4
58.4
Jharkhand
Orissa
Interpretation: Sales in Jharkhand and Orissa are more dependent on discounts being offered. In Chhattisgarh, the consumers do not look for discounts before making their purchase for furnishing products.
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Question Would you prefer to buy curtains which are branded or unbranded?
Branded 14.3
Unbranded
33.3
33.4
Chhattisgarh
Base: All number in percentages.
Jharkhand
Orissa
Interpretation: The demand for branded curtains is comparatively lesser in Jharkhand and Orissa than in Chhattisgarh.
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Question What are the main attributes you consider before you purchase curtains?
Family & Friends Magzine & Designers Not Influenced 14.3 38.2 28.5 19 Chhattisgarh
Base: All number in percentages.
13.3 6.7 40
50.1 16.6
40 Jharkhand
33.3 Orissa
Interpretation: Television and Magazine are the major influence factors in Chhattisgarh. In Jharkhand, friends and family are the major influencers. In Orissa, most of the consumers are not influenced on external factors.
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Question Have you seen catalogs for curtains in furnishing retail shops?
Yes
No
42.8
66.7
50
57.2
33.3 Chhattisgarh
Base: All number in percentages.
50
Jharkhand
Orissa
Interpretation: Consumers in Jharkhand have not seen many catalogs as compared to consumers in Chhattisgarh and Orissa.
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Question How many shops do you visit before finalising your purchase?
1 19
3 or more 16.6
33.3
42.8
33.3
58.4
38.2 Chhattisgarh
Base: All number in percentages.
33.4 Jharkhand
25 Orissa
Interpretation: The number of consumers who visit up to 2 retail shops is much more. This means they stick to their retail shops from which they might be regularly buying and thus will be dependent on the retailers choice of brand.
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Yes
No
Chhattisgarh
Base: All number in percentages.
Jharkhand
Orissa
Interpretation: Consumers are well aware of the brand name Siyarams thus the company will only have to make announce their presence in furnishings. Since it is the only consumer recognized brand in the industry, the company will be able to capture the market share.
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Yes
No
Chhattisgarh
Base: All number in percentages.
Jharkhand
Orissa
Interpretation: Consumers are well aware of the brand name Siyarams thus the company will only have to make announce their presence in furnishings. Since it is the only consumer recognized brand in the industry, the company will be able to capture the market share.
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Yes
No
83.4
100
100
16.6 Chhattisgarh
Base: All number in percentages. Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.
Jharkhand
Orissa
Interpretation: Most of the consumers are not aware of Siyarams presence in furnishings across the three states.
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RECOMMENDATIONS:
Siyaram's need to make the customers aware about its presence in furnishing. Females are the one who make the final purchasing decision in furnishing. Thus Siyarams should find a brand ambassador with whom the females can easily relate to. E.g.: someone from television or Twinkle Khanna who is associated with furnishing as she is an interior designer herself. Show Siyarams furnishing products being used in top television soap operas. Position furnishing products as a lifestyle commodity & encourage consumers to invest in furnishing their houses. Open Siyarams retail outlet in at least each of the states capital. To capture markets with low purchasing power, Siyarams should come out with a cheap range or product line under a different brand name. Come out with innovative designs to compete with market leaders GM & Dicitex. Improve the distribution channel so the delivery system can be speeded up. Give the catalogs out for free to the retailers.
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APPENDIX
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Retailer's Questionnaire
Q1. What is the name of the retailer's shop? _____________________________________________________________ Q2. Where is the location of the retailer's shop? _____________________________________________________________ Q3. How many brands of curtains fabric do you stock? _____________________________________________________________ Q4. Which brand of curtain fabric is sold the most? _____________________________________________________________ Q5. What is the name of the distributors from who you purchase curtain fabric? _____________________________________________________________ _____________________________________________________________ Q6. If you sell 100 curtains, how many are: Colour Shade Light Medium Dark Qty ________ ________ ________ Pattern Plain Floral Textured Leaves Stripes Geometric ________ Total 100 Others Total Qty __________ __________ __________ __________ __________ __________ __________ 100 Total __________ 100 Material Cotton Silk Polyester Others Qty __________ __________ __________ __________
Q7. Which colour of curtain fabric sells the most? _____________________________________________________________ Q8. Are the sales: Seasonal
Festive
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Q9. What is the price range (per meter) of the curtains which sell the most? Less than Rs. 100 Rs. 101 Rs. 300 Rs. 301 Rs. 500 Rs. 501 Rs. 1000 More than Rs. 1000 Q10. Could you please provide us with the approximate quantity sold (per month)? _____________________________________________________________ Q11. Do you deal with cut service format? Yes
No
Q12. What is the delivery schedule of the distributor's for cut service? Less than 2 days 2 3 days 3 4 days 4 5 days More than 5 days Q13. What is the delivery schedule of the distributor's for roll format? Less than 15 days 16 30 days 31 45 days 46 60 days More than 61 days Q14. Which format do you prefer to show patterns to the customers? Catalogs 2.5 meters cut samples Rolls Q15. What width of curtains do you sell? 48 54 Q16. Which brand catalogues do you keep? Siyaram's Others; Specify: ____________________________________ Don't keep catalogs Q17. Would you like to keep Siyarams catalogues? Yes No Q18. How long does a customer take to finalize his/her purchase? Less than 15 min 15 30 min 30 45 min More than 45 min
110
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Q19. Who mostly decides on the final purchase? Male Female Q20. Do you think the brand name Siyarams will positively influence the customers choice? Yes No Q21. Which brand do you push the most to your customers? _____________________________________________________________ Q22. What is your approximate turnover ratio of Cut sales v/s sales of Rolls? _____________________________________________________________ Q23. Any suggestions? _____________________________________________________________
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Customer's Questionnaire
Q1. Customer's name: _________________________________________ Q2. Customers gender: Male
Female
Q3. Which age group do you belong to? Less than 25 yrs 25yrs 30 yrs 35yrs 40 yrs 40 yrs and above
30yrs 35 yrs
Q4. Please specify your annual family income group? Less than 3 lakhs 3 lakhs 5 lakhs 5 lakhs 7 lakhs 7 lakhs 10 lakhs 10 lakhs and above Q5. According to you curtains are: Necessity
Lifestyle
Q6. How often do you change the curtains in your house? Once in 2 years 2 4 years 4 6 years More than 6 years Q7. What are the main attributes you consider while purchasing curtains? Design Price Quality Brand name Others Q8. Which colour shades of curtains do you prefer the most? Light Medium Dark
Q9. What price range do you prefer? Less than Rs. 100 Rs. 301 Rs. 500 More than Rs. 1000 Rs. 101 Rs. 300 Rs. 501 Rs. 1000
Q11. Do you look for discounts or other offers before purchasing curtains? Yes No
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Q12. Would you prefer to buy curtains which are? Branded Unbranded Q13. Who influences your decision to purchase curtains? Friends Family & Relatives TV Serials Magazines Interior Designers Others: Specify______________ Not influenced Q14. Have you seen catalogues for curtains in retail shops, if yes then specify? Yes No _____________________________________________________________ Q15. How many shops do you visit before finalizing your purchase? One Two Three or more Q16. Are you aware of the brand Siyaram's? Yes
No
Q17. Are you aware of the brand Siyaram's in furnishings? Yes No Q18. When did you make your last purchase of curtains and upholstery? _____________________________________________________________ Q19. Any suggestions? _____________________________________________________________ _____________________________________________________________
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BIBLIOGRAPHY
Books:
Strategic Market Research: A Guide to Conducting Research by Anne Beal Questionnaire Design: How to Plan, Structure and Writing by Ian Brace Market Research in Practice by Paul Hague
Websites:
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