New product launch and export startegy international marketing
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This is a group presentation undertaken as a part of International Marketing Course. The topic was new product launch and export strategy of the new product.
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New product launch and export startegy international marketing
- 2. My parent- Handmade by India” • Sole Proprietorship (Individual) Firm • Engaged in manufacturing, trading, wholesaling and retailing an exclusive range of Kalamkari products • Turnover of more than 50 lakh PRODUCTS • Kalamkari sarees • Kalamkari cotton sarees • Kalamkari mulmul cotton fabrics • Kalamkari Kurtis and skirts • Kalamkari Pyjamas • Kalamkari Dupattas
- 4. • Large, diversified and potential market • Diversified product range • Cheap labor rates lead to competitive pricing • Need low capital investment at initial stages • Low barriers to entry • Few players in the market and a level playing field • Lack of infrastructure • Still confined to local markets and small cities • Lack of skilled labor • Poor working conditions • Lack of advanced technology • Transport logistics • Inadequate export logistics • Non-availability of quality raw materials • Rise in demand for handloom products • Huge untapped market in urban area • E-commerce and internet are great platforms to sell Kalamkari products • Government assistance • Handloom products are non-taxable • Competition in domestic market from private institutions • Availability of credit • Low levels of Income • Urbanization • Industry is disorganized • Employee retention rate • Presence of high earning job opportunities STRENGHTS WEAKNESS THREATSOPPURTUNITY SWOT
- 5. • Filter 4 • Final Screening of Target Markets • Filter 3 • Micro level factors specific to the product •Filter 2 • General Market Factors relating to the product •Filter 1 • CORE COMPETENCIES *GDP Nominal over $ 10000 *GDP per capita PPP $20000 *Inflation between 1%- 7% *Availability of Market Data *Stage of development (Growth stage is considered) *GST/VAT less than 20% *FDI Attractiveness (Top 15 country list) *Country Risk (Min. score of 55/100) *Economic Freedom (Min. score of 55/100) * Indian Population (> 1 million) *Existing & Potential Competition (High Competitive Countries are considered) *Ease of doing business (Top 25 Rank list) *Product Acceptance (Only favorable countries considered) *Consumer Spending (High spending nations considered)
- 6. MALAYSIA
- 9. Major competitors… Latiff Harun Enterprises Hot stores Mass Net global ventures CMM GLOBAL TRADING
- 10. MARKET SEGMENTATION AND TARGET MARKET Indian • young • middle- aged • Kids Malays • Young • middle-aged • kids
- 11. PRICE “Penetration pricing strategy” Sarees: RM 90 – RM 1500 Skirts and Kurtas: RM- 72- RM 350 Scarves: RM 26- RM 50
- 12. Promotion & Distribution • ATL and BTL advertising • Newspapers • Fashion magazines • Fashion channels on television, • Radio TVCs • Discounts coupons and loyalty cards Shipping Road transport
- 13. DIVISION OF ROLE • Marketing Manager • Finance Manager • Operations Manager THE IMPLEMENTATION STAGE CONTROL MECHANISMS • 20% increase in quarterly sales. • Ability to capture 5% market share in retail sales. • 3% royalty charged on the Franchisee • Measuring the level of product awareness, brand recognition and customer satisfaction through surveys.