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Udai Institute of Management Studies, Jaipur

mag etize Attract the people around

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

Story Behind the Brand The Indian Jeans stitched for the y2k generation to distinct them from the others. The jeans are designed to suit Indian youth, an Indian brand that will magnetize others and give you an edge from others. A brand that will identify you.

Why Magnetize?? The brand is named to attract our potential customer that is youth. If we see advertisements of any brand let it be any thing they target on youth. In advertising campaign marketers are adopting non traditional approach and theme of their advertisements is to attract opposite sex, Adventure, (Chocolates, Toothpaste, Cold Drinks, Perfumes, Hair Gel, Deodorants, Cars,) And since our brand is also targeted on youth we have named it as magnetize it reveals that our jeans has the potential to attract others (opposite sex) these types of brands are very attracting and catchy, in a survey done to choose one of the brand among three (Drift, Distinct and magnetize) 95% of the people choose magnetize The Tagline The tagline only generalizes the brand name and make an appeal to the customer for purchase. USP (Unique Selling Preposition) Environment Friendly and skin friendly Jeans The process of manufacturing does not contribute to the Global Warming and cloth used is 100% cotton and treated with anti allergic chemical.

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

EVALUATION OF RELEVANT MARKET SEGMENTS (Competitors)


Target market consists of two types of Competitors: 1. Branded: like pepe London, Out Law, Levis Signature, Lee Cooper, DJ&G 2. Local brands (Copied brands of popular jeans) Market strategies 1. Pricing : The competitors price range is Rs 450 2000 2. Target Market: Rural and Urban 3. Promotion Mix : (a) Local Brands : Trade promotion only (Promotions are done for traders only) (b) Branded Jeans : Both Trader and customers get various types of discounts and offers. 4. Product Mix: Both women and men variants are available. 5. Advertising : (a) Local brands : no advertising (b) Branded Jeans : all types of advertising is done e.g. Television Advertising, billboards, Magazines, Newspapers etc.

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

STRATEGIES FOR TARGETING, SEGMENTATION, POSITIONING AND PRICING

Target market
Target the market correctly and properly is the need of the hour because of the cut throat competition in the jeans market, from one side international brands are dominating ( Levis, Numureauno, Lee Cooper, Out Law) and on other side Indian brands as well as Indian local brand (copied version of international brands & designs) are capturing the market. Todays jeans market is Brand Sensitive, people prefer brand in spite of the cost. So it should be done carefully.

Market Segmentation (Variable (s) to use)


1. Demographic variable: Age: no age constraint Magnetize is basically targeted to youth Income: 2,000 20,000 income groups Gender: male and female jeans Most of the product basically concentrate on age variable but magnetize has no age bar the main emphasis is given on income variable that will range from 2000 20,000. Students comes in the minimum slab who are not independents but dependent on their parents but the do have income in from of pocket money and stipends which ranges from 500 5000. And people in this class are not conscious about brands they need change in their life style, garments etc they prefer quality that give value of money. On other hand people who have income above 25,000 they start preferring brands (esteem needs) people at this income stage becomes more brand conscious so they are not targeted by our brand

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

2. Geographic Variable
Magnetize will target Rural and urban market. In this targeted market (on the basis of income slab 2000-20000) this segment basically consists of local brands (copied jeans) and some branded jeans companies are there like Pepe London, Out Law, Levis Signature, Lee Cooper. But rural market is still out of reach of these branded Jeans and this market is captured by local brands so there is a lot of scope in rural market.

3. Behavioristic Variables
Customers in this income group are not brand loyal they are price sensible if customers in this group get quality at reasonable price they will not hesitate trying new brands. 4. Positioning: Price & Quality and Head to head positioning Magnetize is positioned on the bases of Price & quality that will compete will other brands and we will try to penetrate the market through the above said strategy.

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

Product
Product: Product not only refers to tangible items but also to intangible attributes such as brand name and customer service. Earlier it was believed that a good product will sell itself. In todays competitive market, there is no such commodity as bad product. So, manufacturers must focus on creating a product or service that will satisfy the demands of the consumers. The product characteristics must be defined with functionality, quality, appearance, brand service, support and warranty.

Pricing Strategy:
Price: In case of apparels, especially in Jeans, price is not of big importance. Gone are the times when companies competed on price. Service is the key today which will shift to focus on personality in the future. Innovative designs are no longer a competitive advantage. New sketches are transformed into garments and make their way in store shelves within a span of three weeks. New disposable fashion has shortened the product development cycle from 16 months to 20 days.

Pricing is done on the base s of market penetration. On the basis of survey 80% people prefer to buy jeans between Rs 500 Rs 2000 considering the above result "Magnetize priced between Rs 449 to 1888. Our jeans is also available on EMI (in two parts) on the purchase of 1000 and above priced jeans. On paying only 500 only and rest amount will be paid in two installments. The offer is only for the lowest income slab group i.e. students only EMI facility is done for those customers who buy local brands which ranges from 550 to 1500. By this scheme the customers will get branded jeans instead of local brands.

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

Distribution Strategy (Channel)


A survey was conducted to decide the distribution channel and on the basis of survey we planned the distribution channel as follows: 1. Direct Selling Through Website :The concept of direct selling is becoming popular day by day but the mode of selling has changed from personal selling to E-selling through websites Magnetize will do its direct selling through www.magnetize.com 2. 3. 4. Selling through Factory Outlets, franchise Selling through Manufactures Brand: Big Bazaar, Malls, Hyper malls Selling through Exclusive Showrooms

Buying pattern of jeans by customers from various outlets


9 8 7 6 5 4 3 2 1 0

<500 500-1000 1000-1500 >1500

Male buying patten

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

18 16 14 12 10 8 6 4 2 0 online exclusive shoppings brand stores malls factory outlets local shops others <500 500 - 1000 1000 - 1500 1500 - 2000 > 2000

Female buying patten

Promotion mix:
Promotion: In integrated communication is an essential part of the marketing mix. This is even more important for Jeans industry as communication is a critical tool in creating an impression in the minds of the consumers. A Jeans, to become acceptable by public must first be adopted by a group which has acknowledged respect in the society. Celebrities are the most influential people who can influence public opinion. CPR (Consumer Personal Reference) marketing refers to the process of marketing where a customer publicizes a brand by accepting the product and spreading the trend by word of mouth.

Respondents Interest towards sales offers for jeans:

Female
6 5 4 3 2 1 0

<500 500-1000 1000-1500 >1500

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

Male
8 7 6 5 4 3 2 1 0 Discounts Free gifts Lucky draws Tour packages Others

<500 500-1000 1000-1500 >1500

Survey reveals that 70- 80% people go for discounts and offers given by the Various (Seasonal) Discounts and packages On the bases of the we have decided to give offer to the customers

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

Advertisement
Source generated most of the information in their last purchase of jeans:

10 9 8 7 6 5 4 3 2 1 0

<500 500-1000 1000-1500 >1500

1. Print Advertising Newspaper, Magazine, bill boards 2. Internet www.magnetize.com 3. Television Advertising: This is the most popular means of advertising and it will play an important role for positioning of our product and creating demand of the product 4. Radio Advertising : Radio (FM channels) is new and effective mode of advertising and it covers rural as well as urban market hence this will also act as a suitable advertising tool for us

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

QUESTIONNAIRE Consumer buying behavior of jeans


Name: Age: Gender: Occupation: 1) Do you prefer wearing jeans? a) Yes b) No 5) How often do you buy jeans? a) Once in a month b) Once in every 3 month c) Once in every six month d) Once in an year e) More than one year 6) Could you please tell how much would you spend for a jeans? a) Less than 500 b) Between 500 and 1000 c) Between 1000 and 1500 d) Between 1500 and 2000 7) Rate the following according to order of rankings before you consider to buy a jeans? ((1- highest,8-lowest)) a) Durability ----------------------------------------b) Variants ----------------------------------------c) Design -----------------------------------------d) Price ----------------------------------------e) Comfort -------------------------------------------------f) Trendy ------------------------------------------------g) Quality -------------------------------------------------h) Brand name ----------------------------------------------8) Would you prefer sales offers? a) Yes b) No

mag

etize JEANS

Attract the people around

Udai Institute of Management Studies, Jaipur

9) What kind of shop you prefer while you purchase a jeans? a) Online shops b) Exclusive brand stores c) Malls d) Local shops e) Others (please specify)_________________. 10) From which source you came to know about the jeans you last purchased? a) Television/radio b) Print media c) Internet d) Family/Friends e) Others (please specify)__________________. 11) Whom will you consult when you make a purchase decision for jeans? a) Family members b) Friends c) Colloquies d) Experts e) Others (please specify)_________________. 12) If you get quality jeans but its not branded would you buy? (a) yes (b) No (c) Cant decide 13) What price you are ready to pay (not branded) but guarantee of quality and latest design? (a) 500-700 (b) 701 900 (c) 1000-1200 (d) cant say

mag

etize JEANS

Attract the people around

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