Garment Marketing Analysis
Therefore marketers start with market segmentation. Market segments here are done through examining demographic, psycho graphic and behavioral differences among buyers. This analysis by Textile Garment Marketing Manage aaa
Steps in is Segmentation, Targeting, and Positioning (STP):
Market Segmentation:- Identifying segmentation variables and segment the market.
- Develop profiles of resulting segments.
Market Targeting:
- Evaluate attractiveness of each segment.
- Select the target segment.
Market Positioning:
- Identify possible positioning concepts for each target segments.
- Select, develop, and communicate the chosen positioning concept.
Target Market:
The business concept intends to exploit the opportunity of an expanding middle class and higher middle class population, which has a tendency of spending a higher ratio of its disposable income for recreation purpose. At a glance the target market will look like this:
a) People inside the country
Upper middle class
Executives
Adventurous youths of school, collage and universities
b) People outside the country—the tourists(primarily SAARC region)
Due to the absence of proper recreation facilities upper middle and middle class families cant enjoy the way they want it. So with the ability to spend Tk.5000 for family recreation purpose they are the key target market for Auto Garments.Business executives who are exhausted with the pressure they face all the year are cramping for relaxation. Auto Garments. will provide them the opportunity to relax and get back into their jobs with more vigor.
The culture of student tour in a group is getting prevalent among the youth. At this moment they are being considered as the secondary customer but with the passage of time there is an excellent opportunity that Auto Garments. will make them the primary customers.
Tourism business is one of the major businesses through the world. Unfortunately Bangladesh is far behind the expected level it can achieve. Auto Garments. will make a desperate attempt to reach that level. The focal target market outside the country will be the seven countries under SAARC region. The tourists business in the area is expanding. So Auto Garments. wants to cash on it. Special promotional activities will be carried on to get these customers by forming liaison with some tour operators operating in India and Nepal.
a) People inside the country
Upper middle class Executives Adventurous youths of school, collage and universitiesb) People outside the country—the tourists(primarily SAARC region)
People inside the country:
Due to the absence of proper recreation facilities upper middle and middle class families cant enjoy the way they want it. So with the ability to spend Tk.5000 for family recreation purpose they are the key target market for Auto Garments.Business executives who are exhausted with the pressure they face all the year are cramping for relaxation. Auto Garments. will provide them the opportunity to relax and get back into their jobs with more vigor.The culture of student tour in a group is getting prevalent among the youth. At this moment they are being considered as the secondary customer but with the passage of time there is an excellent opportunity that Auto Garments. will make them the primary customers.
People outside the country—the tourists (primarily SAARC region):
Tourism business is one of the major businesses through the world. Unfortunately Bangladesh is far behind the expected level it can achieve. Auto Garments. will make a desperate attempt to reach that level. The focal target market outside the country will be the seven countries under SAARC region. The tourists business in the area is expanding. So Auto Garments. wants to cash on it. Special promotional activities will be carried on to get these customers by forming liaison with some tour operators operating in India and Nepal.
Marketing Goal:
Qualitative objective: Maintaining the leadership in this field is another major marketing goal. Quantitative objective: Reaching sales volume of Tk. 300,00,000 by the third year of operation
4Ps represent the sellers’ view of the marketing tools availing for influencing buyers. On the other hand 4Ps correspond to the customers’ 4 Cs. In order to reach the target market Auto Garments. uses the above-mentioned approach, which is described as follows:
As we know that the Product concept holds that consumers will favor hose products that offer the most quality, performance or innovative features. And it’s the most important element in marketing mix. As there is no well-facilitated resort currently operating in Rangamati so the product/service is going to play the role as a pioneer in this respect. The proposed resort with the highly qualified manpower and its incomparable services will definitely get the customers satisfied.
The service of the resort will also be in the customized form. It will be giving the tourists the scope of fulfilling their demands with the hand of the resort committee. As all the marketers know that a product must pass through a well-defined product life cycle, it is also true for this holiday resort. From product life cycle, we know that it must pass through 4 major stages. These are
It is clear that the industry has not flourished yet though a huge potential in the market exists. For any establishment in the form of resort will first need to reach to the target market. As the whole industry is passing through the introduction stage it is also true for this particular project, holiday resort.
From the above-mentioned table we can see that the objective of pricing in this holiday resort is to make the combination of product quality leadership. It will provide high quality services to the tourists and also the price would be such so that the tourists’ will not feel that they are paying a higher price.
Pricing of the services that will be provided by Auto Garments. would be modular. It means that all the services provided by Auto Garments. would be divided and grouped into several modules. A customer will have to pay for only the service modules he or she had used. Price of individual modules will be determined by the respective costs of providing those services.
The prices of most of our services will be kept as low as economical viability allows attracting more customers, who are price sensitive. There will be additional luxurious services, i.e. golf link, which will be charged higher to the target market who is not price sensitive.
Marketing Plans
In order to accomplish the marketing goal and more precisely to reach the two major segments of target market, a marketing plan need to work out. As we know marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. These tools are categorized and known as 4Ps. (product, price place and promotion.)4Ps represent the sellers’ view of the marketing tools availing for influencing buyers. On the other hand 4Ps correspond to the customers’ 4 Cs. In order to reach the target market Auto Garments. uses the above-mentioned approach, which is described as follows:
Product:
As we know that the Product concept holds that consumers will favor hose products that offer the most quality, performance or innovative features. And it’s the most important element in marketing mix. As there is no well-facilitated resort currently operating in Rangamati so the product/service is going to play the role as a pioneer in this respect. The proposed resort with the highly qualified manpower and its incomparable services will definitely get the customers satisfied.The service of the resort will also be in the customized form. It will be giving the tourists the scope of fulfilling their demands with the hand of the resort committee. As all the marketers know that a product must pass through a well-defined product life cycle, it is also true for this holiday resort. From product life cycle, we know that it must pass through 4 major stages. These are
It is clear that the industry has not flourished yet though a huge potential in the market exists. For any establishment in the form of resort will first need to reach to the target market. As the whole industry is passing through the introduction stage it is also true for this particular project, holiday resort.
Price:
Pricing is he most sensitive issue. It is also the most flexible element that can be changed quickly and it earns revenue as well. An organization must decide where to position its product on quality and price. There are nine possible price-quality strategies. An organization can offer a high-quality product at high price, another organization offers an average-quality product at an average price, and still another firm can offer a low-quality product at a low price.From the above-mentioned table we can see that the objective of pricing in this holiday resort is to make the combination of product quality leadership. It will provide high quality services to the tourists and also the price would be such so that the tourists’ will not feel that they are paying a higher price.
Pricing of the services that will be provided by Auto Garments. would be modular. It means that all the services provided by Auto Garments. would be divided and grouped into several modules. A customer will have to pay for only the service modules he or she had used. Price of individual modules will be determined by the respective costs of providing those services.
The prices of most of our services will be kept as low as economical viability allows attracting more customers, who are price sensitive. There will be additional luxurious services, i.e. golf link, which will be charged higher to the target market who is not price sensitive.
Place:
In the 4Ps place considers the following factors:- Place deals with the company’s offerings and image in that way they hold a momentous and unique competitive position in the target consumers’ mind.
- The Auto Garments. is situated in the proper of Rangamati.
- The township is located at the western bank of the Kaptai Lake.
- The company will provide luxurious bus service to the customers from Chittagong to Rangamati.
Promotion:
Promotion is actually consists of a diverse collection of incentive tools, mostly short-termed, designed to stimulate quicker and/or greater purchase of particular products or services by consumers or the trade. (Marketing Management-The Millennium Edition/Philip Kotler)
Sales promotion seems most effective when used together with advertising because the satisfied customers do the best advertising. Auto Garments. will develop a promotional strategy that will emphasize promotional activity more than advertising activities, at least for the first few years. The reason behind this is that first it needs to make the target market aware of the facilities exist in Bangladesh.
For our Proposed advertisement for the Auto Garments. we have decided to make media mix where we have chosen print media, electronic media and direct advertisement. In choosing media we have considered some factors and those are- reach, frequency, attention & motivation value, and take into account the media environment. We have chosen Pratham Alo, Janakantha and Daily Star as print media. In electronic media we have chosen ETV, CHANEL I. In direct advertisement we have chosen leaflet and banner in out-of-home advertisement.
In print media, we will advertise for 3-weeks of rollout period using three newspapers. We prefer to advertise in back page in all the three newspapers on the first day and after that during the three weeks at the rate of three days per week the advertisement will go in the 3rd page. In print media, the reason behind choosing Pratham Alo and Janakantha is their circulation. Pratham Alo’s reach is to 2,88,500 people and Janakantha reach is 1,01,750. For the students the major tool used would be to distribute leaflet containing the pictures of the resort and some other pictures of nature among the students in different educational institutions.
Another method would be used to develop channel with the different institution authority so that when there would be any study tour the institution authority will go for this holiday resort. The same approach would be taken to get the business executives in the holiday resort. A nationwide bon voyage holiday contest will be conducted. The first prizewinner gets a free ticket and the other winners receive 50% discount.
The promoters of the company feels that such contests will give Auto Garments. great exposure both to our target market and general population. Auto Garments. will arrange such events in regular interval, which will help it to remain in the headlines all the year round. The content in print media will be basically the description of the resort in such way that will attract people.
Sales promotion seems most effective when used together with advertising because the satisfied customers do the best advertising. Auto Garments. will develop a promotional strategy that will emphasize promotional activity more than advertising activities, at least for the first few years. The reason behind this is that first it needs to make the target market aware of the facilities exist in Bangladesh.
For our Proposed advertisement for the Auto Garments. we have decided to make media mix where we have chosen print media, electronic media and direct advertisement. In choosing media we have considered some factors and those are- reach, frequency, attention & motivation value, and take into account the media environment. We have chosen Pratham Alo, Janakantha and Daily Star as print media. In electronic media we have chosen ETV, CHANEL I. In direct advertisement we have chosen leaflet and banner in out-of-home advertisement.
In print media, we will advertise for 3-weeks of rollout period using three newspapers. We prefer to advertise in back page in all the three newspapers on the first day and after that during the three weeks at the rate of three days per week the advertisement will go in the 3rd page. In print media, the reason behind choosing Pratham Alo and Janakantha is their circulation. Pratham Alo’s reach is to 2,88,500 people and Janakantha reach is 1,01,750. For the students the major tool used would be to distribute leaflet containing the pictures of the resort and some other pictures of nature among the students in different educational institutions.
Another method would be used to develop channel with the different institution authority so that when there would be any study tour the institution authority will go for this holiday resort. The same approach would be taken to get the business executives in the holiday resort. A nationwide bon voyage holiday contest will be conducted. The first prizewinner gets a free ticket and the other winners receive 50% discount.
The promoters of the company feels that such contests will give Auto Garments. great exposure both to our target market and general population. Auto Garments. will arrange such events in regular interval, which will help it to remain in the headlines all the year round. The content in print media will be basically the description of the resort in such way that will attract people.
Foreigners:
For foreigners Auto Garments. will adopt the following techniques:
- Giving advertisement in the web site, mailing to the foreign tourists randomly etc.
- Developing liaison with the tour operators operating in India and Nepal so that they will also encourage the tourists to visit Bangladesh.
- Assuring international standard services and security would be another promotional strategy to attract these tourists.
SWOT Analysis:
Strength: The internal competitive strength of a company is very significant in crafting its marketing plan The strengths of the holiday resort are the followings:
Parking zone:
Healthy and family environment
Security: Skilled manpower with defined authority
Weakness: Every organization possesses weakness and for a new one like Auto Garment Marketing. the weaknesses are as follows:
Lack of education regarding hotel management among the employees related to this business.
Lack of experience with this kind of business.
Opportunity:The opportunity is considered to be the external competitive advantages related to this company. As the industry is flourishing and has a marvelous potential, the opportunity is also high for this business. The opportunity is described below:
Lack of holiday resort in Rangamati, the proposed place
The number of potential tourists in the country
The foreigners who are willing to visit Bangladesh but can’t come due to the lack of proper environment
It will also increase an employment opportunity
Threat: This is the opposite of the opportunity that is the external competitive disadvantages related to the company. The threats to this business that is, establishing a holiday resort are the followings:
The traffic jam in Dhaka city which is very much frustrating for the foreigners and also incur time and cost for the company who will take the foreigners to the resort from Dhaka.
In the off season the fixed cost will be a big burden because at that time the tourists won’t like to visit the sight.
The distribution channel of the company should be of such form that the customers could avail the above three utilities. So, the firm will adopt a direct distribution channel. However, as a marketing tool it well employs a specialty distributor who may act as an information disseminator of the company.
Auto Garments. will be a holiday resort for individuals and families who want to spend a few days with the nature, away from all the humdrum of normal urban life. This also includes the foreigners who are eager to get close to the scenic beauty of Bangladesh. Currently there is only a few such firms operating in Bangladesh, in fact no strong resort industry has grown up in Bangladesh.
Since it is going to be one of the few firms of the industry, proper and in-depth industry analysis is not possible. However, Auto Garments. have some similarity to the operations of some firms that offer guided tours that includes lodging facility for two or three days in different parts of Bangladesh including the Sunderbans. So, a superficial industry analysis of that industry might be of some help.
Currently there are three large firms that offers guided tours and lodging to selected parts of the country. There are many small firms, often comprising of only husband and wife, who operate privately, depending mainly upon foreign tourists. In fact, this industry so far has been mainly foreign tourist oriented industry. But Auto Garment Marketing . will emphasize on Bangladeshi city-dwelling population who want to get rid of the boring urban life and freshen up their bodies and soul be mending themselves with the nature besides their target market who are the foreigners.
Approximately Tk.10,00,00,000 is invested in this sector(lodging sector) of the total tourism industry. So it is obvious that this industry has not even reached its childhood, compared to the investment in other business sectors in international and Bangladeshi standard. Auto Garments. is going to be the trendsetter in this industry. Traditionally the people of Bangladesh has been blamed as home sick and there was allegation that they do not want to leave the leisure and comfort of staying in their home. But this trend is changing. Primarily because more and more people are feeling that urban life has given them luxury and in exchange taken their leisure. Besides the overall per capita income of Bangladeshis has increased over the years after the liberation. People are interested to spend money to forget the misery of city life and to rediscover the treasures that nature has hidden. Increasing contact with the western countries, where camping has become almost a routine for the people of those countries, has also engrossed the latent urges of going for several day’s tour in the upper and upper middle class of this country. Those who have the capability are going to western countries to spend their vacation, which essentially includes a camping program.
In Bangladesh, since there is no strong appeal from the resort industry or anything of that sort, the prospect for a resort will economically be very bright. If a holiday resort like Auto Garment Marketing. starts operating, then those who used to go foreign countries and those who could nor afford to go to foreign countries would be interested to taste the enjoyment of touring. People who now go to their villages to spend their vacation will have the option to go camping, which is much more interesting and thrilling than merely going to the village and spending days over there.
WEAKNESSES
THREATS
Parking zone:
Healthy and family environmentSecurity:
Skilled manpower with defined authority- Rooms with different facilities
- Restaurant with different delicious food items (Both Bangla and foreign food items)
- Flower garden
- Customized services
Weakness: Every organization possesses weakness and for a new one like Auto Garment Marketing. the weaknesses are as follows:
Lack of education regarding hotel management among the employees related to this business.
Lack of experience with this kind of business.
Opportunity:The opportunity is considered to be the external competitive advantages related to this company. As the industry is flourishing and has a marvelous potential, the opportunity is also high for this business. The opportunity is described below:
Lack of holiday resort in Rangamati, the proposed place
The number of potential tourists in the country
The foreigners who are willing to visit Bangladesh but can’t come due to the lack of proper environment
It will also increase an employment opportunity
Threat: This is the opposite of the opportunity that is the external competitive disadvantages related to the company. The threats to this business that is, establishing a holiday resort are the followings:
The traffic jam in Dhaka city which is very much frustrating for the foreigners and also incur time and cost for the company who will take the foreigners to the resort from Dhaka.
In the off season the fixed cost will be a big burden because at that time the tourists won’t like to visit the sight.
The distribution channel of the company should be of such form that the customers could avail the above three utilities. So, the firm will adopt a direct distribution channel. However, as a marketing tool it well employs a specialty distributor who may act as an information disseminator of the company.
4.7 Industry Analysis
Auto Garments. will be a holiday resort for individuals and families who want to spend a few days with the nature, away from all the humdrum of normal urban life. This also includes the foreigners who are eager to get close to the scenic beauty of Bangladesh. Currently there is only a few such firms operating in Bangladesh, in fact no strong resort industry has grown up in Bangladesh.Since it is going to be one of the few firms of the industry, proper and in-depth industry analysis is not possible. However, Auto Garments. have some similarity to the operations of some firms that offer guided tours that includes lodging facility for two or three days in different parts of Bangladesh including the Sunderbans. So, a superficial industry analysis of that industry might be of some help.
Currently there are three large firms that offers guided tours and lodging to selected parts of the country. There are many small firms, often comprising of only husband and wife, who operate privately, depending mainly upon foreign tourists. In fact, this industry so far has been mainly foreign tourist oriented industry. But Auto Garment Marketing . will emphasize on Bangladeshi city-dwelling population who want to get rid of the boring urban life and freshen up their bodies and soul be mending themselves with the nature besides their target market who are the foreigners.
Approximately Tk.10,00,00,000 is invested in this sector(lodging sector) of the total tourism industry. So it is obvious that this industry has not even reached its childhood, compared to the investment in other business sectors in international and Bangladeshi standard. Auto Garments. is going to be the trendsetter in this industry. Traditionally the people of Bangladesh has been blamed as home sick and there was allegation that they do not want to leave the leisure and comfort of staying in their home. But this trend is changing. Primarily because more and more people are feeling that urban life has given them luxury and in exchange taken their leisure. Besides the overall per capita income of Bangladeshis has increased over the years after the liberation. People are interested to spend money to forget the misery of city life and to rediscover the treasures that nature has hidden. Increasing contact with the western countries, where camping has become almost a routine for the people of those countries, has also engrossed the latent urges of going for several day’s tour in the upper and upper middle class of this country. Those who have the capability are going to western countries to spend their vacation, which essentially includes a camping program.
In Bangladesh, since there is no strong appeal from the resort industry or anything of that sort, the prospect for a resort will economically be very bright. If a holiday resort like Auto Garment Marketing. starts operating, then those who used to go foreign countries and those who could nor afford to go to foreign countries would be interested to taste the enjoyment of touring. People who now go to their villages to spend their vacation will have the option to go camping, which is much more interesting and thrilling than merely going to the village and spending days over there.
Internal
STRENGTHS- Reasonable amount of capital
- Locational advantage with lakeside view and corner plot
- Spacious and well-designed
- Roof garden with community center
- Reasonable price
- Highest number of installments provided to the customers
- Free 1 year after sales service
- Free consultancy provided to the customers
- Previous experience of the entrepreneurs in this field
- Quality assurance in raw materials
- Lowest amount of down payment
- Efficient and effective management
- Aggressive selling and promotional effort is not taken
WEAKNESSES
- Lack of established reputation due to new entrance
- Customer recognition is low
- Dealing with contractors are sometimes subject to contingency
- At initial stage, has to depend largely on word of mouth promotion
- Entire labor dealing is not under firm’s active control
- Difficulty in attracting adequate human resources
External
OPPORTUNITIES- Growing market
- Wide customer variety
- High return on investment
- Current trend of real estate is booming
- Future possibility of switching over to commercial buildings from residential apartments
- New technology in construction enabling Unique Builders to cut down cost
THREATS
- Possibility of customer and supplier default
- Government policy and other procedural matters
- Lengthy administrative procedures
- Legal constraints
- In case of joint venture, problem regarding land owner might result in stagnation of construction process
- Local hooligans, thugs and mastans
- Bribe culture practiced in various government institutions
- Political instability: Hartals, strikes etc.
External
OPPORTUNITIES- Growing market
- Wide customer variety
- High return on investment
- Current trend of real estate is booming
- Future possibility of switching over to commercial buildings from residential apartments
- New technology in construction enabling Unique Builders to cut down cost
Threat
- Possibility of customer and supplier default
- Government policy and other procedural matters
- Lengthy administrative procedures
- Legal constraints
- In case of joint venture, problem regarding land owner might result in stagnation of construction process
- Local hooligans, thugs and mastans
- Bribe culture practiced in various government institutions
- Political instability: Hartals, strikes etc for Garment Marketing
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