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Introduction of Marketing
Marketing is an integrated communications-based process through which
individuals and communities discover that existing and newly-identified
needs and wants may be satisfied by the products and services of others.
Four Ps of Marketing
MARKETING STRATEGY
Marketing strategy is a process that can allow an organization to
concentrate its limited resources on the greatest opportunities to increase
sales and achieve a sustainable competitive advantage. A marketing
strategy should be centered on the key concept that customer satisfaction
is the main goal.
Basic theory:
Target Audience
Proposition/Key Element
Implementation
Scope
This project helps me to understand the whole business process and
various ways how an industry works as a whole. It also helps us to
develop our skills according to the present market condition. The study
also helps me to identify the practices related to finance in retail sector
which was a very knowledgeable experience to be gained. This training
also builds my skills of marketing together with my specialization fields.
Limitations
Every thing has some pros and cons and so certain limitations of his study
that we could observe are as follows:
FAB INDIA
INTRODUCTION:
Fabindia Overseas Pvt. Limited operates textile and home accessory retail
outlets. It offers textile-based products, including ready-to-wear garments
and accessories for men, women, teenagers, and children; bed, bath, table,
and kitchen linen; and floor coverings, upholstery fabric, and curtains.
The company also offers home products, such as furniture, lighting,
stationery, tableware, cane baskets, and a selection of handcrafted utility
items. In addition, it offers cereals, grains, pulses, spices, sugar, tea,
coffee, honey, fruit preserves, and herbs. Further, the company offers
authentic body care products, including soaps, shampoos, hair oils, pure
oils, moisturisers, body scrubs, face packs, hair conditioners, and special
skin care products. Fabindia Overseas Pvt. Limited operates retail outlets
in India; Rome, Italy; Dubai, the United Arab Emirates; and Guangzhou,
China. The company was founded in 1960 and is based in New Delhi,
India.
Fabindia
Type Private
Founded 1960
Headquarters New Delhi, India
Industry Textiles & Home Furnishings
Website www.fabindia.com
In 1958, well before American companies were sourcing from India, John
Bissell left his position as a buyer for Macy’s New York to work as a
consultant for the Ford Foundation in order to develop India’s export
potential in its emerging textile industry. What Bissell discovered was a
village-based industry with a profusion of skills hidden from the world.
Fifteen years later the first Fabindia retail store was opened in Greater
Kailash, New Delhi with a range of upholstery fabrics, durries and home
linens. By the early eighties, we started producing garments made from
hand woven and hand block printed fabrics.
Over the years the focus of Fabindia's marketing shifted from exports to
the local Indian retail market. What started as an export house has today
become a successful retail business presenting Indian textiles in a variety
of natural fibers, and home products including furniture, lights and lamps,
stationery, home accessories, pottery and cutlery. Extending this
partnership to the farmers in rural areas, Fabindia launched its organic
food products range in 2004. Fabindia Sana, the company’s authentic
body care products range is also being launched at all Fabindia outlets.
Fabindia sources its products from over 15000 craft persons and artisans
across India. We support the craft traditions of India by providing a
market and thereby encourage and sustain rural employment. Today we
have retail outlets in all major cities of India - 105 at last count - in
addition to international stores in Dubai, UAE; 3 stores in Bahrain; Doha,
State of Qutar and Rome, Italy.
Fabindia Overseas Pvt. Limited has added a new item to its accessories
portfolio-crafts-based jewellery. The range, sourced from 21 states across
India, is an extension of the Fabindia brand aimed at offering buyers the
complete ensemble so that they do not have to source jewellery from
somewhere else to match their clothes. And it also hopes to lure new
buyers. The collection, priced between INR 100 and INR 8,000,
comprises ethnic jewellery in silver, beads, thread, wood, bell metal
(brass and copper), clay, ceramic, leather and glass-representing the
wealth of the indigenous crafts of the states from which the company also
sources its cache of textiles. The collection-of traditional as well as
contemporary jewellery-is available in three designs-Anusuya, the
classical range; Ananya, the unusual and contemporary designs; and
Amna, the trendy and casual range. The jewellery will be available in
select Fabindia stores in Delhi, Mumbai, Bangalore, Hyderabad, Kolkata,
Pune, Chandigarh and Chennai in the first phase. In Delhi, the collection
will be available in eight of the 17 Fabindia outlets and in four of the
seven stores in Mumbai.
FabIndia sources its products from around 22,000 craftsmen and artisans
across India and has a plan to increase its supplier base to 100,000 in the
next few years.
Last year Bissell went one step further in trying to ensure he is sharing
the wealth FabIndia creates with those who are helping him to create it.
FabIndia floated a wholly-owned subsidiary, Artisans Micro Finance,
which will create community-owned companies. For each company, a
calculation is done of how much working capital it needs, and then this is
financed two-thirds through debt and one-third through equity. FabIndia
is working with Indian private sector bank, Axis Bank (the erstwhile UTI
Bank), to provide the debt.
The craftsmen will own 26% of the equity in the company and will buy in
at a price cheaper than external investors. Of the balance, 49% will be
owned by Artisans Micro Finance and the rest by financial investors and
FabIndia employees.
Fab India, a company which exclusively markets produce of rural artisans
and craftsmen through a chain of retail outlets spread across the country
has decided to promote 35 producer companies in different states
covering about 20000 weavers almost entirely from muslim, dalit and
other backward classes to enable them to aggregate their fragmented
production and increase volumes and returns. One of the companies
floated by Fab India with weavers in Rajasthan has declared a 50%
dividend in the current year. Fab India with 80 retail stores and plans to
increase this number to 250 by 2010 sees the potential for having similar
producer companies in about 350 districts of the country. The credit
requirements of these producer companies are to be met from commercial
banks, through a model devised by Fab India in association with ICICI
Bank.
PRODUCTS:-
Garments
Accessories
Home Linen: A large range of Bed, Bath, Table and Kitchen linens.
Home Linen
Home Furnishing
Home Products
Floor Coverings
Body Care
Products
BUSINESSES:
Fabindia started as a wholesale export company and has since
successfully established itself as a major retail player in the Indian
market. Corporate, resorts and hotels are serviced through a dedicated
Institutional Sales and Marketing team.
The product range consists of garments for men, women, children and
infants; garment accessories; home furnishings – bed, bath, table and
kitchen linen, upholstery fabric, curtains, floor coverings and a range of
non textile products like furniture, lights, lamps and stationery. In
addition to handcrafted clothing and home furnishings, FabIndia’s
product line includes organic foods and body care products.
• Merchandise Mix:
During the early days, merchandising was not a planned activity.
Whenever Bissell saw something of interest, he procured it for display at
the store. Sometimes he would also invite the craftsmen, to display the
products and assist in the sale. This orientation of customer relationship
later became a part of the company culture.
The store layout in Fabindia depends upon the type of store. Fabindia
works on various types of stores which include concept stores as well as
full fledged store. In a posh locality in a metropolitan city, Fabindia
works as a full fledged store which has almost all the product lines. On
the other hand, in a concept store, the place specific products are retailed.
Market potential determines store location for Fabindia, which is fast
expanding in Tier II cities like Bhopal where still mall culture is non
existent. The layout usually keeps clothes section at the back of the store
and the entrance area is utilized for home products. The exclusive
jewellery counter is also kept in the fronts.
Marketing strategy:
Fabindia was founded with the strong belief that there was a need for a
vehicle for marketing the vast and diverse craft traditions of India and
thereby help fulfil the need to provide and sustain rural employment. We
blend indigenous craft techniques with contemporary designs to bring
aesthetic and affordable products to today’s consumers.
Handloom Weaving
There products are sourced from villages all over India. Fabindia works
closely with artisans by providing various inputs including design, quality
control, access to raw materials and production coordination. The vision
continues to be to maximize the hand made element in our products,
whether it is hand-woven textiles, hand block printing, hand embroidery
or handcrafting home products.
Retail The retail channel is already developed within India with almost
100 stores in Tier 1 and Tier II cities. As of today, internationally
Fabindia owns stores in Rome (Italy), Guangzhou (China), Dubai (UAE),
Manama (Bahrain) and Doha (Qatar).
The product range consists of garments for men, women, children and
infants; garment accessories; home furnishings – bed, bath, table and
kitchen linen, upholstery fabric, curtains, floor coverings and a range of
non textile products like furniture, lights, lamps and stationery.
ELECTRONIC COMMUNICATIONS:
COPYRIGHT:
All content included on there site, such as text, graphics, logos, button
icons, images, audio clips, digital downloads, data compilations, and
software, is the property of Fabindia.com or its content suppliers. The
compilation of all content on there site is the exclusive property of
Fabindia.com. All software used on there site is the property of
Fabindia.com or its software suppliers.
TRADEMARKS:
Fabindia has filed its application for registration under the Trade and
Merchandise Act and Rules at Delhi under different classes and awaiting
registration. Any violation of our trademarks will be liable for legal
action.
When you place orders or access your account information, they offer the
use of secure socket layer (SSL) technology. The secure socket layer
(SSL) encrypts all information you put in before it is sent to them.
Furthermore, all of the customer data they collect is protected against
unauthorized access. To prevent unauthorized access, maintain data
accuracy, and ensure correct use of information, they have employed
reasonable and current Internet security methods and technologies.
www.fabindia.com web site makes use of 128 Bit Secure Socket Layer
(SSL) technology to encrypt credit card and billing information while it is
transmitted over the internet. They do not record or retain your card
information at all as it is directly passed over to the payment gateway for
processing through the 128 Bit Secure Socket Layer (SSL), which is the
highest level of internet security available today.
When you make a purchase online, either a solid key or a locked padlock
icon will appear in the lower right of your browser window. This icon
indicates that your transaction session is secured through Secure Socket
Layer (SSL).
The information is sent to your card issuer's bank over a secure,
proprietary connection. When the authorization process is complete - this
takes around five seconds - you receive an approval or decline response
in your browser, and they are informed appropriately to initiate the
shipping process.
Today the company has retail outlets in all major cities of India - 97 at
last count - in addition to international stores in Dubai, UAE; 3 stores in
Bahrain; Doha, State of Qutar and Rome, Italy.
INTERPRETATION: As the chart shows that 67% people don’t know about FAB
INDIA .This is happened because FAB INDIA never advertises for itself.
INTERPRETATION: As the chart shows that the customers get information about
FAB INDIA from mouth publicity because FAB INDIA never advertises for itself.
INTERPRETATION: As the chart shows that the 50% of Contribution to
improving the life of rural artisans , 20% Quality, 30% of Brand Image of the
customers forces to come in FAB INDIA. Because their customers is belong to high
class level and purchasing from FAB INDIA give personal satisfaction to the
customers.
INTERPRETATION: As the chart shows that the customers Like more in FAB
INDIA that is Products and then 20% of service and Employee’s behavior because the
quality of the product is more high .
INTERPRETATION: As the chart shows that 90% of the customers are satisfied
with the product and services given by the FAB INDIA and 10% of customers are not
satisfied because they are direct connected with the suppliers so they are maintained
the quality of the product at certain level.
INTERPRETATION: As the chart shows that the 80% customers are satisfied with
the services of FAB INDIA because they maintained their standard.
INTERPRETATION: As the chart shows that the 85% customers will come again to
FAB INDIA because of its quality product and services.
INTERPRETATION: As the chart shows that the 30% of customers are regular
since last three years , 35% of customers are regular since last two years and 25% are
regular customers since last years. Some of the are not belong to Bhopal they came
here because of its brand image.
SWOT Analysis
Strengths Weakness
6) Customer loyalty
Opportunities Threats
3) Customer acquisition
strategies