You are on page 1of 42

MAXWELL INDUSTRIES LIMITED

A
Project Report On To study the retailers perception towards VIP brand of hosiery in North Gujarat Region

Submitted to, N.R. Institute of Business Management Ahmedabad .

Submitted by, Alkesh soni (03097) Bahelim Javed khan (03004)

N.R. Institute of Business Management, Ahmedabad .

MAXWELL INDUSTRIES LIMITED

0 2 3 4 5

PROJECT PROFILE 1

Project Objective:

To study the retailers perception towards the VIP brand of hosiery (Maxwell industries ltd) in North Gujarat Region. 7 8 9 10 11 12 13 Name of the Organization Maxwell Industries Limited 14 15 Name of Project Guider 16 17 18 19 Problem Statement 20 21 Sample Size 22 23 Survey Method 24 Duration of Project 25 26 Mr. R.C.Joshi Mr. Bhupal Sharma Mr. Mukesh Patel Retailers Perception 100 Sample Personal Interview survey Method 18th May to 18th July.

MAXWELL INDUSTRIES LIMITED

MAXWELL INDUSTRIES LIMITED

PREFACE

Experience makes a man perfect this is oldest and most popular proverb, which is experimental by most of us in our daily life. It is the fact that however easy and lucid theory may be explained, it can not teach any person fully the matters it purposes to teach without giving him real life experience.

In management institutions students are taught theories adds with care studies and group discussions. In additions practical training is arranged to give him real life experience of the classroom teaching. So the project consists, to study the retailer s perception towards different brands of hosiery in North Gujarat Region. The research study consist of the detail finding of the retailers perception satisfaction, innovative idea and many important information regarding to MAXWELL INDUSTRIES LTD. (VIP brand) in North Gujarat Region.

MAXWELL INDUSTRIES LIMITED

ACKNOWLEDGEMENT

We would like to take this opportunity, to express our most sincere gratitude to Mr.R.C.JOSHI, REGIONAL MANAGER, MAXWELL INDUSTRIES LIMITED for his assistant and support to prepare my reports.

We would also like to thanks to Mr. BHUPAL SHRMA, ASE, MAXWELL INDUSTRIES LIMITED for his assistant and support without which this project would not successfully completed. He provides me all necessary data regarding Marketing Department.

We are heartily thankful Mr. MUKESH PATEL and Mr. LALIT CHOPRA for them support in preparing this report.

We would also like to thanks to all faculty members of N.R. INSTITUTE OF BUSINESS MANAGEMENT, AHMEDABAD.

II

MAXWELL INDUSTRIES LIMITED

EXECUTIVE SUMMARY

MAIN OBJECTIVE To study the retailers perception towards the VIP brand of hosiery (Maxwell industries ltd) in North Gujarat Region.

SUB OBJECTIVE

To analyses the competitive position of the VIP brand in North Gujarat Region To study the perception of the retailers to stock of different brands of hosiery vis--vis VIP brand.

To study the different factors for success of hosiery brands. To study the retailers satisfaction level in North Gujarat Region To study the awareness of VIP brand in North Gujarat Region To study the problem with VIP brand in North Gujarat Region

EXTENT TO STUDY

Try to understand the retailers perception towards the VIP brand of hosiery Find out competitive position of VIP brand To know the retailers satisfaction level in North Gujarat Region To know the awareness of VIP brand in North Gujarat Region

MAXWELL INDUSTRIES LIMITED

III LIMITATION OF STUDY

0 1 2 3 4 5

Time constraint. Resources constraint. Bias on part of respondents. Retailers were hesitant in giving responses. Inexperience on part of interviewers. Limited area of study

SIGNIFICANCE AND NEED OF STUDY

Marketing Research is one of branch of Marketing Information System. Market means actual and potential customers. Marketing research is the systematic and intelligent study of who, what, how, where, and why of actual and potential buyers. Marketing research is preliminary concerned with investigation, analysis and measurement of market demand.

RESEARCH METHODOLOGY

I have collected data from retailers of hosiery in North Gujarat Region. In terms of research, method, the emphasis on direct questioning, quantitative data, their analysis and interpretation involves.

MAXWELL INDUSTRIES LIMITED

IV

FINDINGS AND RECOMMENDATION

On completion of our study, we have seen following findings which are mentioned below:

1. Which types of products retailers are selling 2. Awareness of VIP brand. 3. Retailers satisfaction level and retailers perception towards different brands of hosiery vis-vis VIP brand. 4. Factors for success of the brands in the region.

We have recommendation, 1. Launching of economy products to compete with competitors products. 2. To reduce price undercutting in this area and increasing advertisement in this area.

MAXWELL INDUSTRIES LIMITED

MAXWELL INDUSTRIES LIMITED

27 TABLE OF CONTENTS
Project Profile Preface Acknowledgement Executive summary I II III 1 3 4 5 6 6 6 7 8

1. Introduction of the company


2. Range of Products

3. Distribution Network 4. Awards 5. Research Methodology


Introduction Objective of Study Area of Study Data Collection a. Sample Size b. Sample Unit c. Sampling Procedure Communication Method Period of study Data Analysis Limitation of Study

9 10

11 12 12 27 28 29 30

6. Analysis and Interpretation


Interpretation of Retailers Response Findings Suggestions

7. Conclusion
Bibliography

MAXWELL INDUSTRIES LIMITED

INTRODUCTION OF THE COMPANY

The innerwear Industry has come a long-way, thanks to Maxwell Industries Limited (A VIP Group of Company). VIP has created brands that have made marketing history.

Whats more they managed it in a category, which was dominated by the unorganized sector which branded unbranded products. Today VIP brands are a force to reckon with. Maxwell Industries Limited is one of the worlds largest innerwear manufacturer and marketers commanding an impressive annual growth rate. It has to its credit six regional offices, three production bases, state of the art technology right from developing cotton to making garments. All this plus an extensive distribution set up spanning the length, breadth of the country. The company through its dedicated research team constantly keeps in with current trends in the market place & the consumers. This approach has let to various technological innovations resulting in new product introduction/extensions.VIP has been positioned as a value for money, premium quality brand having an aspiration value.

The consumer is always treated as a VERY IMPORTANT PERSON and is the center of focus. The company has and will always give the consumer the very best and make

VIP, the flagship brand of Maxwell Industries Ltd. has been selected, based on a national 1

survey conducted by ORG MARG a renowned market research agency and IMAGES - a

MAXWELL INDUSTRIES LIMITED

well known fashion magazine, as "The Most Admired No.1 Undergarment Brand" for two successive years 2000 & 2001 respectively. MIL thanks all its valuable customers, distributors & retailers. The VIP group also manufactures & markets the following well-known brands

Lingerie category:

LOVABLEIt has a

The wide

fashion range of top

that

touches premium

the end

heart. bras.

quality

DAISY

DEE

BRA

comfort

Bra.

A value for money brand catering to the quality & price conscious consumer Premium category: Garment category: Innerwear RIVOLTA - Undress code for men. A premium end brand that portrays an international image. LIVE-IN-JEANS - Keep them on, and on, and on LIVE-IN (Khakis, chinos, cargoes.) Trousers - Meet your lighter side. Footwear category: VIP EXCEL SOCKS - For feet addicted to comfort. It has a wide range of socks made from cotton, Lycra etc to match every consumer's need.

MAXWELL INDUSTRIES LIMITED

RANGE OF VIP PRODUCTS


They are made of 100% cotton. It is available in single jersey, rib and interlock fabrics. All the vests consist of round neck (RN) and Round Neck with Sleeves (RNS). Only VIP leader vest is available in white and colour. Rest all the vests are available only in white.

Brands VIP Bonus Premium VIP Bonus Classic VIP Bonus Knitshrunk Premium VIP Bonus Knitshrunk Classic VIP Nawab VIP Rosso VIP Leader (white) VIP Leader (Col) Brands VIP Bonus Junior

75cm/ 32"

80cm/ 32"

85cm/ 34"

90cm/ 36"

95cm/ 38"

100cm/ 40"

105cm/ 42"

110cm/ 44"

45cm/ 18"

50cm/ 20"

55cm/ 22"

60cm/ 24"

65cm/ 26"

70cm/ 28"

VIP Leader (Junior)

MAXWELL INDUSTRIES LIMITED

MAXWELL INDUSTRIES LIMITED

2000

2001

MAXWELL INDUSTRIES LIMITED

MAXWELL INDUSTRIES LIMITED

INTRODUCTION

The report is based on the data collected in summer 2004 to study the retailers perception towards VIP brand (Maxwell industries ltd) of hosiery in North Gujarat region and its secondary purpose is to identify competitive position of VIP brand in North Gujarat region as well as the scope for the improvement in this territory.

OBJECTIVE OF STUDY

To study the retailers perception towards the VIP brand of hosiery (Maxwell industries ltd) in North Gujarat Region.

To analyses the competitive position of the VIP brand in North Gujarat Region To study the perception of the retailers to stock of different brands of hosiery vis--vis VIP brand. To study the different factors for success of hosiery brands.

MAXWELL INDUSTRIES LIMITED

AREA OF STUDY

The project report entitled, to study the retailers' perception towards VIP brand of hosiery in North Gujarat Region for our study we have classified North Gujarat Region in following format

NORTH GUJARAT

District MAHESANA PATAN SABARKANTHA BANASKANTHA

Cities 1.Mahesana 2.Visnagar 1.Patan 2.Unjha 1.Hima1tnagar 2.Idar 1.Palanpur 2.Disha

Samples 15 10 15 10 15 10 15 10

MAXWELL INDUSTRIES LIMITED

DATA COLLECTION

For the purpose of study of marketing research for the Maxwell industries in North Gujarat Region. In this part we will review sample size, sampling procedure, and communication method etc.

28

SAMPLE SIZE

The sample size used comprise of 100 samples unit that would be segregated as follows.

District MAHESANA PATAN SABARKANTHA BANASKANTHA

Cities 1.Mahesana 2.Visnagar 1.Patan 2.Unjha 1.Hima1tnagar 2.Idar 1.Palanpur 2.Disha

Samples 15 10 15 10 15 10 15 10

MAXWELL INDUSTRIES LIMITED

29

SAMPLING UNIT

In our study, sampling unit was the retailers' in following cities, 0 1 2 3 4 5 6 7 Mahesana Visnagar Patan Unjha Idar Himmatnagar Palanpur Disa.

We had asked different questions related to facts, attitudes and opinions towards VIP brand of hosiery.

30

SAMPLING PROCEDURE

To know about the facts, attitude and opinion towards VIP brand of hosiery, we have used stratified random sampling method.

MAXWELL INDUSTRIES LIMITED

COMMUNICATION METHOD

Method of obtaining specific data from the specified source has two general types 0 1 Observation method. Communication method.

Communication method means obtaining information through questions. This media of communication method are of three types. 0 1 2 Personal survey Telephone survey Mail survey

As sample was of 100 and we wanted to know much insight about the perception and attitudes of retailers' in North Gujarat region. So we selected personal interviewing as method of survey.

PERIOD OF STUDY

This research with analyses, conclusion and recommendation will take 8 weeks in summer i.e. 18th May to 18th July.

DATA ANALYSES
The primary analyses will be done through the use of the computerized statistical tools like; 0 1 2 Percentage analyses Pie charts Bar chart 3 10

MAXWELL INDUSTRIES LIMITED

LIMITATION OF STUDY

6 7 8 9 10 11

Time constraint. Resources constraint. Bias on part of respondents. Retailers were hesitant in giving responses. Inexperience on part of interviewers. Limited area of study.

11

MAXWELL INDUSTRIES LIMITED

DATA ANALYSES AND INTERPRETATION

TABLE-1

AVAILABILITY (NORTH GUJARAT REGION)

PARTICULARS VIP RANJIT VICTORIA RUPA LUX JOCKEY

YES 61 84 61 48 83 23

NO 39 16 39 52 17 77

%AVAILABILITY 61% 84% 61% 48% 83% 23%

90 80 70 60 50 40 30 20 10 0

VIP RANJIT VICTORIA RUPA LUX JOCKEY AVAILABLITY

Above table shows the availability of different brands in North Gujarat Region.

12

MAXWELL INDUSTRIES LIMITED

From the above table we can say that the availability of the RANJIT and LUX is very high and they hold the strong position in North Gujarat area. VIP has 61% availability that shows that they dont have the as strong position as RANJIT and LUX have.

Availability of the VIP brand in different districts is as follows

District Mahesana Patan Sabar Kantha Banas Kantha

% of availability 88% 28% 68% 64%

From the different district wise analysis we can say that VIP is strongest in Mahesana district and company need to try hard in other districts of North Gujarat Region especially in Patan district where they have only 28% availability.

13

MAXWELL INDUSTRIES LIMITED

TABLE 2

FACTORS WHICH RETALERS CONSIDER IN STOCKING PRODUCT

PARTICULARS QUALITY PRICE MARGIN CUSTOMER DEMAND AVAILABILITY SALES PROMOTION


100 80 60 40 20 0

MAHESANA 24 22 8 13 3 2

PATAN 25 23 11 19 6 4

S.K 25 25 21 22 9 12

B.K 25 25 25 21 8 10

TOTAL 99 95 65 75 26 28

QUALITY PRICE MARGIN CUSTOMER DEMAND AVAILABILITY SALES PROMOTION FACTORS

From the above table we can see that about 99% of the retailers considers quality as one of the most important factor for stocking the product of different brands. About 95% of the retailers take price as one of the most important factor for stocking the product of different brands. 14

About 75% of the retailers consider the customer demand as one of the most important factor for stocking the product of different brands.

MAXWELL INDUSTRIES LIMITED

Retailers do not emphasis more on factors like sales promotion in national media, availability etc.

15

MAXWELL INDUSTRIES LIMITED

TABLE 3

ON THE BASIS OF QUALITY

PARTICULAR VIP RANJIT VICTORIA RUPA LUX JOCKEY 80 70 60 50 40 30 20 10 0

GOOD 74 72 58 31 78 76

AVERAGE 13 27 37 37 18 6

POOR 4 3 -

VIP RANJIT VICTORIA RUPA LUX JOCKEY GOOD AVERAGE POOR

The above table shows that ,74% of the retailers believes that the VIP have good quality, but still 4% of the retailers believes that VIP do not give high quality product. And retailers also regard RANJIT,LUX and JOCKEY as high quality products. RUPA and VICTORIA are not considered as a good quality product and their image is not so good as VIP, LUX and RANJIT and they are suffering from this fact . Still some retailers are not satisfied with the quality VIP is providing in comparison with the jockey product. 16

TABLE4

ON THE BASIS OF PRICE

MAXWELL INDUSTRIES LIMITED

PARTICULARS VIP RANJIT VICTORIA RUPA LUX JOCKEY

VERY HIGH 12 1 1 43

HIGH 37 9 8 48 49 20

AVERAGE 33 80 79 34 41 1

LOW 2 2 -

From the table we can see that as per retailers belief the price of product of VIP is higher almost 49% of the retailers take VIP products as a higher priced one. RUPA, LUX and JOCKEY are also considered as higher priced products as we can see from the table that all the three companies have rating as higher priced product more then 50% which is very high. On the other hand, RANJIT and VICTORIA are the most economical brands as compared to other companies, they have average rating of about 80% which is very good and that is why the RANJIT and VICTORIA are the first choice of the price sensitive customers

17

MAXWELL INDUSTRIES LIMITED

TABLE 5 Particulars VIP RANJIT VICTORIA RUPA LUX JOCKEY VERY HIGH 1 2 3

ON BASIS OF MARGIN HIGH 4 4 4 ON BAS IS OF MARGIN 60 50 40 3536

AVERAGE 35 36 33 30 29 16

LOW 52 48 50 53 50 20

53 52 50 50 48 VIP 33 3029 20 16 4 4 4 RANJIT VICTORIA RUPA LUX JOCKEY

PERCENTAGE 30 20 10 1 0 VERY HIGH HIGH

2 3

AVERAGE

LOW

From the above table it is clear that all brands are giving same-low margin. And from this we can say that retailers are not satisfied with margin. As for as VIP brand is concerned, they are giving high margin but due to the problem of price under cutting and customer demand of low price product so retailers are not able to get higher marginFrom the survey we have come to know that almost all companies are giving margin between 10 to 15% 18

TABLE 6

ON BASIS OF RETAILERS SCHEME

MAXWELL INDUSTRIES LIMITED

PARTICULARS VIP RANJIT VICTORIA RUPA LUX JOCKEY

HIGH 2 51 4 6 18 -

AVERAGE 62 29 60 53 62 10

LOW 33 15 14 25 10 35

RETAILERS SCHEME 70 60 50 40 PERCENTAGE 30 20 10 0 HIGH AVERAGE LOW 2 4 6 18 10 29 33 25 1514 35 51

62 60 62 53 VIP RANJIT VICTORIA RUPA LUX 10 JOCKEY

19 From the above analysis we can say that RANJIT is the only company, which is giving higher retailers scheme. Due to higher scheme retailer are being attracted towards RANJIT brand and they are pushing RANJIT brand in the market. which clear that it encourage sales of RANJIT brand. On the other hand brands like LUX, RUPA, VICTORIA and JOCKEY are not giving frequent scheme. For VIP we have found that they are giving scheme but not as much as RANJIT and also problem with VIP, They are changing very frequently and from that many times retailers have to suffer.

MAXWELL INDUSTRIES LIMITED

20

MAXWELL INDUSTRIES LIMITED

TABLE 7

ON BASIS OF ADVERTISEMENT

PARTICULARS VIP RANJIT VICTORIA RUPA LUX JOCKEY

EX.HIGH 6 14 7 5 23 -

HIGH 18 53 31 18 46 2
ADVETISEMENT

AVERAGE 47 21 19 54 27 5

LOW 21 3 2 6 55

60 50 40 PERCENTAGE 30 20 10 0 EX.HIGH 14 6 75 23

53 46 31 18 18 2 HIGH 47

54

55 VIP RANJIT

27 21 19 5 AVERAGE 21 32 6

VICTORIA RUPA LUX JOCKEY

LOW

From the above table we can say that LUX and RANJIT are spending well an advertisement and which has seen that 69% and 67% of retailers fills that advertisement of LUX and RANJIT respectively is high. On the other-hand retailers feel that the VIP is spending on only TV advertisement. So we are suggesting that VIP should advertising locally by way of Wall Painting, Banner, Hoardings, Bill Boards and Display Etc. 21 From the various table, it has seen that almost all companys brand have same quality, margin, product line etc. Only the difference lies in advertisement, the company, which has high advertisement getting much more on demand than other company.

MAXWELL INDUSTRIES LIMITED

So we are suggesting increasing advertisement in North Gujarat Region. Which stimulate demand of VIP brand product.

22

MAXWELL INDUSTRIES LIMITED

MAXWELL INDUSTRIES LIMITED

AVAILABILITY

From the survey, we have found that every brand has good availability of product and retailers get product whenever they want. We have seen that LUX and RANJIT have good market strategy and sales persons are visiting retailers very regularly and convincing retailers to push their brand in market.

As far as VIP brand is concerned retailers are not stock each and every product of VIP brand and sales person are not visiting very regularly and some cases not visiting at all. so awareness in retailers about the VIP brand is not as much as it should be, being the leader brand in the hosiery.

23

MAXWELL INDUSTRIES LIMITED

TABLE 8

ON BASIS OF PRODUCT LINE

Particulars VIP RANJIT VICTORIA RUPA LUX JOCKEY

WIDE 60 60 38 26 76 15

AVERAGE 28 25 27 40 13 4
PRODUCT LINE

LOW 4 3 4 -

80 70 60 50 PERCENTAGE 40 30 20 10 0

76 6060 38 26 15 40 28 27 25 13 4 WIDE AVERAGE 4 34 LOW VIP RANJIT VICTORIA RUPA LUX JOCKEY

From the analysis, we are found that the entire brand has wide product line however LUX and RANJIT are introducing new product frequently. Although VIP have very wide product line but dealers are not providing every product in retailers and so VIP is not getting much sales as it should get. New addition to product line is not taking place and that is also back stepping sales. 24 TABLE 9 SATISFACTION LEVEL

PARTICULARS VIP

EX.SATISFIED 4

SATISFIED 64

DISSATISFIED 10

EX.DISSATISFIED 1

MAXWELL INDUSTRIES LIMITED

RANJIT VICTORIA RUPA LUX JOCKEY


V IP 4

14 4 3 15 1

71 44 47 72 8
EX .S ATIS F IED S ATIS FIED

4 15 20 5 25
RANJIT 11 14

2 1

21 1 10

DIS S ATIS F IED EX .DIS S AT IS FI ED DO N'T S AY

64

71

LUX
EX.SATISFIED 15 SATISFIED DISSATISFIED EX.DISSATISFIE D DON'T SAY

72

From the above graph we have found that 85% of retailers are satisfied with LUX and RANJIT brand. It is due to that overall performance of both brand like quality, price, advertisement, product line and proper marketing. Although VIP is best in quality and durability however 68% of retailer are satisfied with VIP brand due to performance of VIP brand an areas like marketing 25

Advertisement, price and new product introduction is not up to mark. so they are legging behind LUX and RANJIT brand in retailers satisfaction level.

MAXWELL INDUSTRIES LIMITED

From the study, we also have found that social and cultural factor like customs, dressing habits, psychology and behavior do affect sales of different brand in North Gujarat Region.

26

MAXWELL INDUSTRIES LIMITED

FINDINGS

About 61% retailers are selling VIP brand while 84%and 83% retailers are selling RANJIT and LUX brands respectively. Availability is very much low in the Patan district i.e. 28%.

About 99% retailers consider quality is one of the most important factor in stocking of any brand of hosiery while 95% retailers feels price also a important factor.

About 74% retailers feel that the quality of VIP brand is good while RANJIT, LUX and JOCKEY brands are also with good quality.

About 49% retailers believe that the price of VIP brand is high, while 63% of retailers believe that the price of Jockey brand. 80% retailers believe that the price of RANJIT and VICTORIA brands are average.

Retailers feel that all company less or more giving same margin in between 10% to 15%. About 62% retailers feel that retailers scheme of VIP and LUX brands are average while 51% retailers say that retailers scheme of RANJIT is high.

About 47% retailers feel that advertisement of VIP brand is average while 67% and 69% retailers feel that advertisement of RANJIT and LUX are high.

About 60% retailers feel that the product line of VIP and RANJIT are wide and 76% retailers say that the product line of LUX is wide.

About 68% retailers are satisfied with VIP brand, while 85% and 87% retailers are satisfied with brand RANJIT and LUX respectively

27

MAXWELL INDUSTRIES LIMITED

CONCLUSION

After research, we conclude that the retailers surveyed were quite sure that the quality of VIP brand is extremely good and also satisfied with this brand however the other brand also have good quality with average price, so if VIP launch a economic product with same quality then they can able to capture higher market share and compete with competitors brands.

Finally company should increase the advertisement in local area through the wall painting, hoarding, billboard etc. and also make sure that proper marketing in terms of salesman, which increase the awareness of product as well as sale and also help in compete with other brands.

29

MAXWELL INDUSTRIES LIMITED

BIBLIOGRAPHY

31

Cooper, Donald R., Schindler, Pamela S., Business Research Method, New Delhi; Tata Mc

Grow-Hill Publishing Company Limited, 2004-843pp.

32

Beri, G.C., Marketing Research, New Delhi; Tata Mc Grow-Hill Publishing Company Limited,

2000-474pp.

33

Luck, David J., Rubin, Ronald S., Marketing Research, New Delhi; Prentice-Hall of India

Private Limited, 2001-743pp.

30

MAXWELL INDUSTRIES LIMITED

You might also like