MARKETING PRESENTATION ON THE TOPIC PRODUCT

Submitted by:

Palak Garg

Neema Sree

Virek Shah

Ankush Batra

WHAT IS A PRODUCT?

• A product is anything that can be offered to a market that might satisfy a want or need.

• A good or service that most closely meets the requirements of a particular market and yields enough profit to justify its continued existence

• In retailing, products are called merchandise, In manufacturing, products are bought as raw materials and sold as finished goods.

WHAT IS A PRODUCT

GOODS

SERVICES

PRODUCT

GOODS

• Goods are things you can buy that you can touch. Can you buy apples? Can you touch apples? Then the apples are goods.

• Can you touch and buy jump ropes, swing sets, bats and balls, caps, pans, or pencils? These items are all called goods.

SERVICES

• From time to time we also buy things that cannot be touched. For example, we buy haircuts when we go to the barber shop or the salon. We buy repairs and cleaning for our teeth when we go to the dentist. In both cases, we are buying a SERVICE. It is something done for us.

DIFFERENCE OF GOODS AND SERVICE

• TANGIBILITY

- Can it be touched and felt? Can it be seen?

- You buy it, you own it; makes it a good. If you experience, use or consume it immediately is a service.

• STORING AND TRANSPORTING:

- Is the product produced before it’s sold?

- Can they be stored and transported?

- Is distance a factor for the consumption of the product?

PRODUCT ASSORTMENT AND PRODUCT LINE

• A product assortment is set of all product line and individual products that a firm sells.

• A product line is a set of individual products that are closely related

• Individual products: is a particular product within a product line, differentiated by brand, level of service offered, price or any other characteristic.

• The seller may see the product in a line as related because they are produced and / or operated in a similar way ,sold to same target market,sold through same types of outlets, or price at about the same level

• Eg: HUL and PNG

PRODUCT QUALITY AND CUSTOMER NEEDS

• Product quality is determined by how customers view the product

• For marketing perspective quality means , a products ability to satisfy a customers need or requirements

• Products with better features are not higher quality products if the features aren’t what the target market wants.

• Quality and satisfaction depends on total product offering (ex: a broken button, full feature digital video recorder)

• A college student would rather buy a pair of jeans then the best tailored trousers of a high grade fabric for daily use.

PRODUCT LIFE CYCLE

• Product life cycle is a business technique that attempts to list the stages in the lifespan of commercial/consumer products. 'Product Life cycle' (PLC) is used for determining the lifespan of these products; such as the normal phases through which a product goes over its lifespan.

PRODUCT CLASSES

• All products fit into one of the two broad groups-based on the type of customer that will use them.

-Consumer products are products meant for final consumer.

-Industrial products are products meant for use in producing other products.

• Consumer Product Class are based on how consumers think about and shop for products.

• Industrial Product Class are based on how buyers think about products and how they’ll be used.

PRODUCT

CONSUMER

CONVENIENCE

SHOPPINGSPECIALTY

UNSOUGHT

INDUSTRIAL

CONSUMER PRODUCT CLASS

CONVENIENCE PRODUCTS

STAPLES

IMPULSE

EMERGENCY

SHOPPING PRODUCTS

HOMOGENEOUS

HETEROGENEOUS

SPECIALTY PRODUCTS

UNSOUGHT PRODUCTS

NEW UNSOUGHT

REGULARLY UNSOUGHT

Unplanned, purchased quickly

Purchase made with time pressure, urgent.

Habitual,low effort,frequent purchases, low involvement

Seek lowest price, see little difference among available.

Need help in making decision, problem solving

Strong preferences, willing to wait or put in effort for the product

Need not strongly felt, unaware of benefits

Aware but not interested, may have negative attitude

INDUSTRIAL PRODUCTS

DERIVED DEMAND:

• This is the main aspect in the market of industry products. The demand for business products derives from the deman for final consumer goods.

PRICE-QUANTITY

• Total industry demand remains fairly inelastic. Hence even if the basic cost of a material used in the final product increases, the quantity required by the industry does not reduce.

• Customers are not looking to buy parts and pieces of any product. There is a level of satisfaction that every product fulfils.

• Product by that definition means the need-satisfying offering of a firm.

• Product is often defined in a customers head by the satisfaction one receives from the good. Technicalities does not matter.

• It becomes a total combination of service, right features, useful instruction, convenient package, trustworthy warranty.

• If a name has earned the trust of the customer in the past, it is common for the customer to further test anything else that they provide.

WHAT DO CUSTOMER BUY?

FABINDIA: CELEBRATE INDIA

• The core of Fabindia is considered to be tradition. People go to their stores for the tradition. Their hand printed patterns, bright colors, unique textures relate to those traditions in India that are centuries old.

“ When I come to India and want to pick up souvenirs or those pretty curtains, Fabindia is the first place I come to. My kid loves the long skirts here.”

- Hayley L James, 36.

“ I pick up ethnic wear for college, saris for mom. You think ethnic, you think Fabindia.”

- Soha Sukku, 25

FABINDIA IN TERMS OF KINDS OF PRODUCTS:

Fabindia caters to many needs of consumers, from apparel to skin care to healthy organics, furniture and home products. Their marketing mix will have to keep in mind their various customers. They have specialized goods in terms of their organics and home furniture as people are very specific in their needs.

SERVICES: John and William Bissel founded the Fabindia School in Bali, Rajasthan in

1992. Provide quality education in the low literacy area of Rajasthan, they are working to uplift conditions of women in these parts.

FABELS WOMEN

MENS

HOME

FURNITURE

PERSONAL

CARE

ORGANIC

ACCESORIES

GIFTS

THE PRODUCT ASSORTMENT OF FABINDIA

FABINDIA initially started with the women's apparels and then branched into multiple sectors along with organic food and skin care as well as gifts and home furniture.

FABINDIA embodies traditional wear for anyone, be it the modern Indian woman, an elderly matron or foreigners looking for Indian ethnic wear.

From their exclusive saris, stoles, strappy tops, to exquisite hand printed kurtis, their product is known to be of the best quality with the root in traditional methods of dyeing and printing.

KURTAS/KURTIS

TOPS & SHIRTS

DRESSES

DUPPATAS & STOLES

SALWARS & CHURIDARS

SARIS

PANTS & CAPRIS

SKIRTS

KURTAS

SHIRTS

PANTS/PYJAMAS/CHURIDAR

JACKETS/WAISTCOATS

TIES

BEDCOVERS

CUSHION COVERS

CURTAINS

QUILTS

TABLECLOTH

PLACEMATS

NAPKINS

BATH LINEN

WOMEN MEN HOME

TEAS

SEASONINGS

AYURVERDIC

HONEY

CONDIMENTS

BREAKFAST ITEMS

SNACKS

SEEDS

LENTILS

SHAMPOOS AND CONDITIONER

HAIR AND BODY OILS

FACE PACKS AND FACE WASHES

SOAPS

BASIC CUTLERY

ACCESSORIES

PURSES AND CLUTCHES

BEDROOM

VERANDAH

DINNING ROOM

BATH ROOM

HOME OFFICES

LIVING ROOM

ORGANIC PERSONAL CARE AND GIFT ITEMS FURNITURE

Variety

PACKAGING

• Packaging is a very important part of how a product is perceived. It involves promoting, protecting and enhancing the product.

• It can make it convenient to store or use.

• Prevent spoiling and damage.

• Easy to identify, promotes brand at time of purchase.

• Ties the product to the rest of the marketing strategy.

• Lower distribution costs.

FABINDIA PACKAGING

• Fabindia keeps with their concept of sustainable and eco friendly packaging with recycled paper bags and packaging wherever possible.

• Their brown paper bag is a signature symbol that in fact identifies the brand itself.

• Their skincare and organic products come with detailed ingredient and usage instructions.

• The clothes often come with a tag of the kind of printing used like block printing, kalamkari printing etc..

WHO BUYS FABINDIA?

Almost every segment of the consumer:

• College going girls

• House wives

• Working women

• Men looking for a traditional wear

• Tourists, to get a touch and feel of india

IN THE NEWS

2012

LVMH Looking to Invest in FabIndia after Deal Failed with Carlyle

2014

Fabindia’s William Bissell is turning more of an angel investor

• Two years back I tried and bought a Kurta for an upcoming wedding function in the family. When I wore it in the wedding many complimented my looks (yes they did mean it for the Kurta!) and I was hooked by the brand & store.

- VENKATARANGAN

http://venkatarangan.com/blog/2011/12/i-like-fabindia-products/

• Ya so I am a total sucker for the bright and gorgeous natural cotton clothes from Fabindia. And I guess a lot of young urban women love Fabindia too.

• https://kuchbhi.wordpress.com/category/fabindia/

BLOGGERS SPEAKS

2012

LVMH Looking to Invest in FabIndia after Deal Failed with Carlyle

2014

Fabindia’s William Bissell is turning more of an angel investor

THE STORE EXPERIENCE

• From the moment we entered the first thing noticed was the burst of colors

• The staff and the store manager knew their offerings very well and pleased to answer our questions

• The store was lit with bright lights and a soothing music along with little posters on the wall describing about their inspirations for their collection

• The general store timings are from 11am till 9 30 pm and also exchange is allowed only on stitched garments within 7 days with the bill and tag

ADVERTESEMENT

ONLINE FABINIDA

CRISIL RATING OF FABINDIA

• Fabindia Overseas Private Limited Rating Outstanding as on 20-Aug-2014

Instrument category

Rating Rating outlook

Instrument Details

Long Term CRISIL AA- Stable Rs. 649 million Cash Credit Limit

Short Term CRISIL A1+ - Rs. 1 million Bank Guarantee limit

Strengths

1. The brand has maintained its Indianness with the authenticity of hand-woven fabric for over years

2. Sustainable employment for the skilled artisans in rural areas

3. The brand strongly believes in word of mouth marketing which has proved very effective.

Threats

1.Unorganized local players can be a serious threat to the brand

2. Development of state owned co-operatives in the same segment can be serious competition

3.Consumers tilt towards foreign brands in the lifestyle segment

Weaknesses

1.  The brand is losing out on attracting new customers as it hugely depends on repeat purchases

2. Not enough experienced personnel to push FABINDIA towards growth in the retail sector

3. Limited global penetration despite huge potential in NRI market

Oppurtunities

1.The brand needs to tap the potential of organic foods by creating awareness.2. Display of FABINDIA products in MBO’s and collaborating with various construction groups would give greater visibility.3. Geographic expansion in US and UK with huge Indian population

THE BOMBAY STORE

• The Bombay Store is the one shopping destination that comes to the customers mind while looking for lifestyle products that are a perfect blend of contemporary and traditional techniques and art forms.

• The broad categories that The Bombay Store offers are: Artefacts, Home Décor, Fashion Accessories and Wellness.

PRODUCT ASSORTMENT/VARIETY

• HANDICRAFT AND ARTEFACTS

Seasonal

Idols and figurines

Wall hanging

Wooden boxes

• HOME DÉCOR

Furniture

Bed and Table linen

Clocks , Lamps and Lantern

• MEMENTOS AND SOUVENIRSMagnetKeychainPlates

• KITCHEN AND TABLEWARE Trays Mugs Coaster

STORE REVIEW OF BOMBAY STORE

• The large, attractive, and friendly Bombay Store sells t-shirts and accessories for men, women, and children, silk by the meter, home wares, organic wellness products, and gifts. There are a number of branches in the city.

A modern version of the traditional Indian handicrafts emporium, with shelves piled high with arts and crafts that fit easily into Western homes.

• You can find everything here, from quirky printed T-shirts by Tantra and incense to wood-carvings, bronze statues and carpets.

• It's a one-stop shop for Indian souvenirs. The comparatively high prices reflect the high quality.

• They have different concepts to viewing the kitschy art, for eg, Truck Art which is a colorful depiction of the quotes painted on the back of trucks

BIBLIOGRAPHY

• Basic Marketing by William D Perrault, Jr, E Jerome Mccarthy

• Fodors.com

• 10best.com

• Marketing Management –Philip Kotler