Project On Marketing Strategy of MK Fabrics
Project On Marketing Strategy of MK Fabrics
Project On Marketing Strategy of MK Fabrics
INTRODUCTION
Marketing is the process of planning and executing the conception, pricing, promotion
and distribution of ideas, goods and services to create to exchange that satisfy
individual and organizational goals. Now a day’s competition is found in all works of
life. It is in sports, personal achievements, beauty contest, and academics. Perhaps the
world of business is not moving the winners have been able to change their life styles
over night with easy bucks. These games are not mere luck but brain. It is found
generally in business world that weak firms ignore their competitions, average firms
copy their actions that improve quality, reduced cost and increase the supplies
mellowed by the needs, moods, and purchasing power of an individual or a family or
a firm. To combat competition in its dimensions, the marketer has no design and
implements effective marketing strategies.
Marketing strategy is the and the unbeatable instruments or a plan shaped and
designed specifically for attaining the marketing objectives of a firm. A Marketing
mission and objectives tell us to where we want to go and marketing strategy provides
us with design for reaching out there.
The tern Advertisement is, derived from the Latin Word “Advert” which Means to
‘turn he mind towards’ The dictionary meaning of the term is ‘to give public
announcements”
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Study on marketing strategy and advertisement of MK Fabrics
REVIEW OF LITERATURE
Chungan (2005) emphasized that Indian textile Industry has to change to be more
competitive in the long run. This paper emphasis that merely cost competence is not
enough to maintain the lead while Indian companied has to have a global competitive
view.
Kumar (2006) did study of various sectors of Indian and Chinese textiles. this paper
concludes and highlights the various areas where india has efficiency over china and
how India should more capitalize on it. Also it gives equally weightage to Chinese
advantages and how India can win over its weaker areas to be more competitive in
long run.
Bedi (2009) in his article had prepared detailed report on India textile industry
covering various sector of textile industry. This is one of the most comprehensive
reports coveting all aspects of textile industry, performance and hindrances in the
growth of it.
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Right media of advertisement will enable the advertiser to deliver the message
effectively to the intended markets or prospects. Medias are chosen to reach the
desirable segment of the population. Media selection is based on the communication
requirements, emphasis on the prospect, are eye on the competition and the budget.
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The study is mainly based on primary data. The primary data has been
collected from 100 consumers through a well structured interview schedule.
Consumers has been selected from the various areas of Kollam District. In addition to
primary data, secondary data are also used for the study. Secondary data was collected
from various journals magazines, publications of M K Fabrics, Internet.
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CHAPTERISATION SCHEME
Chapter I Introduction
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INDUSTRY PROFILE
GLOBAL SCENARIO
The clothing and textile in the global market is fast changing with the scaling up uses
of textile in diverse areas. Asian country including India plays a dominant role in the
international trade of the global market. China has the major share in the clothing and
textile trade in the international market. Both Bangladesh and Hong Kong has an
significant role – however India is still on the back seat. It is reported that Asian
companies export most of the textile and apparel to Europe and North America and
U.S.A etc.
Asian countries gaining in textile trade due to low cost compared to African,
European and south American countries. As per Global Textile and Apparel Industry;
Vision 2015, World Textile and Apparel Trade is expected to reach us S 805 billion
2015 from us S 650 billion in 2010. At present few countries like Bangladesh,
Thailand, Cambodia, Srilanka, Pakistan contribute major share I fore earnings of their
country from textile and clothing trade, through their share in the world market is not
very significant.
INDIAN SCENARIO
Indian textile industry is one of the leading textiles industries in the world. Through it
was predominantly un organized industry even a few years back, but the snare started
changing alter economic liberalization of Indian economy in i991, The opening of the
economy give much needed thrust to the Indian textile industry, which has how
become one of the largest in the world.
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upwards to USD 39, 60, following the foreign Trade Policy Annual Supplement in
June 2012
STATE SCENARIO
The cotton mill industry is one of the most important medium and large scale
industries, in state of Kerala. Due to the wide spread development of handloom
industry in the state, there is an environment conductive to the cotton spinning mills
which produce yam, the raw material required by handloom industry, new spinning
mills are being commercialized, but the performance of the existing cotton spinning
and weaving mills in the state is not quite satisfactory hence an analysis have been
earned out into the probability and financial position of the cotton mill industry in
Kerala. The objective of the study is to make a financial analysis of industry covering
various aspects such as cost structure productivity asset structure, financial structure
and working capital management.
INDUSTRY ANALYSIS
The current market size of textile in India is estimated to be around USD 6.83
billion. The overall textile industry in India is expected to grow at a rate of 11% per
year on year and reach a market size of USD 11.6by year 2012 - 2013. The current
textile concept in India is estimated around U.S.D 6.34 billion which is estimated to
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TEXTILE RETAIL
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COMPANY PROFILE
HISTORY
M.K FABRICS was started by 3 partners in the name of their father Mr.
Matheen Kunju in 1990. They followed the footstep of their father. Mr.Maitheen
Kunju started his textile in 1984 and was named as Blitnia Wedding Center later it
was renamed as M.K Fabrics by his sons and they started in equal partnerships.
They have about 200 employees and have an turnover of about 50 lack – In Crore.
They got the membership in India Mart since 2012. M.K Fabrics is one stop shop for
all clothing needs. It is located in the heart of Kollam-at M.K Tower. Convent Road.
M.K. Fabrics was served their customers for over 25 years being committed in giving
their finest garments and designs of highest quality standard and style.
Their mission has always been to optimize the expertise and expertise and
expression of their artisans and suppliers to innovate styles and that surplus the
limitations of fashion trends to become classics. They will delegate and exceed their
customers expectation by offering their holistic, desirable value driven solutions in
clothing and apparel.
M.K FABRICS corporate goals arc based on quality and standards we have
set clear policies to ensure that they meet their goals. they have stinger measures in
store customer satisfaction they have laid an equally important stress on improving
the condition of society and world over. For a wild it seemed alright to simplify
follow everyone and do what others! around were seen to be doing and social
activities as pioneered by someone else. Not for long though soon, M.K Fabrics felt
that its C.S in activities needed to be pushed further with a proper strategy.
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MENS WEAR
ETHAEN1CWEASUIT
FORMAL WEAR
TROUSERS
MENS JEANS
BOYS COLLECTION
BROCADE SAREE
WEDDING GOWN
DESINGNER SAREES
ECONOMY
COTTON SAREES
CHIFFON SAREES
SILK SAREES
CHURIDHAR SAL WAR SUITS
LADIES WEAR
KURTA
MENSWEAR
ETHENIC WEARS
Ethnic wears included shirt and pants which are used for un official purposes
they are mainly bought by the young customers of age between 15-30.M.K Fabrics
has a large collection of ethnic wears. The price range of these is between 500-1200.
These cloth items are mainly bought from Bangalore. Coimbatore, and Delhi etc. M.K
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Fabrics has appointed employees to collect cloth items from various parts of the
country. Ethnic wears include Party wears. Casual wears. T-Shirts, Shorts etc.
SUITS
M.K Fabrics is one of the biggest retailers of suits in Kollam. They have an large
collection of suits of various brands. Some of the important brands that are retailed in
M.K Fabrics KOLLAM ARE RAYMOND, BOMBAY DYING, LEVIES, LUO11ZS
PHILIP, OTTO; etc. The price range of suits start from 3000 and extends up to 15000.
OTTO is the cheapest suits that are retailed by M.K Fabrics whose price range is
between 3000-5000. There are mainly 2 types of suits that are swelled by M. K
Fabrics they are Formal suits and Party suits.
FORMAL WEARS
Formal wears are those which are of particular brands. Some of the important brands
are PAN AMERICA, D.H LUO1S PHILIP; LEVIES etc these shirts have an price
range between 1500-3000 theses are only used for official purpose. These are mainly
light single cultured shirts.
MENS JEANS
M. K Fabrics retails various type of jeans such as branded jeans and local jeans. The
branded jeans are costly and have high quality cloth material, but they have only
small amount of varieties the branded jeans price ranges varies from 1500-500. Some
of the important brands that are retailed in M.K Fabrics Kollam are LEE.
CARBON.OTTO etc. The local jeans are mostly demanded one for the customers
because they get more varieties at low price, M.K Fabrics Collects various local
brands from various parts of the countries such as from Bangalore, has appointed
employees to collect cloth items from various parts of the country
BOYS COLLECTION
M.K. Fabrics has a good collection of kids wear. They mostly sell kids shirts trousers
pants Jeans t-shirts etc. They retail kid’s wear that are collected from various parts of
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the country such as Bangalore, has appointed employees to collect cloth items from
various pans of the country.
WOMENS WEAR
BRIDAL COLLECTION
M.K. Fabrics is the one of the biggest sellers of sari in Kollam. They have a
large collection of saris, sari department is the largest department of M.K. Fabrics and
M.K. Fabrics is the best shop, in Kollam for the bridal collection. They have various
types of wedding saris, wedding gowns, designer saris which are collected from
various famous sari makers of India. They main source of sari are those series which
are made in kanchipuram and Chennai. The price range of sari varies as per the type
of sarees. Wedding gowns are sold only in few amount because M.K. Fabrics
concentrate more on sale of sari. The percentage of wedding sari stars from 7000-1
lack. Designer saris price range starts from 2000-25000 and gowns price range starts
from 7000 – 1 lack
Economy
Cotton Sari
Chiffon Sari
Silk Sari
Churidar Salvar Suits
Ladies Wear
Kurtha
DEPARTMENT PROFILE
Marketing Department
Business Development Department
Administration Department
Information Technology Department
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Loyalty Department
VI. K group is very famous in their H. R. activities. Resources are the most important
part of every industry. A gathering of efficient employees is the base of every
organization. Without that the organization will struggle to survive and of maintain g
existing and attracting employees good H.R. Policies should be maintain in the
company.
RECRUITMENT
The recruitment policies of a company constitute its need for employees. Recruitment
helps a company to meet their human resources beeds. It is very important to recruit
quality employees. For that a well prepared recruitment policy should be their for the
company. The policy should maintain some question like.
What is the purpose of recruiting people? To which are recruitment is made? What all
are the skills looking at? What kind of people are we looking for? What are the
qualifications needed? Etc
Recruitment should be able to satisfy all these questions. Otherwise the main aim of
the process will be failure.
Recruitment of M.K Fabrics is done on the quarterly basis. The company will give
advertisement in newspapers and famous T.V Channels. The Through, normal
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recruitment procedures will be made. The rules and regulations of the company will
be announced only after the selection process.
The employees there will be bonded agreement and candidates will have to submit a
cheque worth rupees 10000 as a safety measure. The most important part of VI, Iv.
group is that even if their exists these kinds of rules they are only for the sake of
safety nothing else. They done heritage to relative a candidate who has got another
job or opportunities with more benefits. And that’s one of the main advantages of the
company compared to others.
The newly recruitment employees will be appointed as sales trainees for three months,
the probability period of the employees will end by six months from the date of
joining in the first months from the date of joining in the first month candidate will
not be having any salary. They will have training Sessions by the Flore mangers for
three months. They will be trained by exports from external agencies to make a vision
on employees after first three months. Within this time candidate are given proper
understanding on what they are dealing with and how they should deal with.
The training and Development policies in M.K. Fabrics are very famous as it
focuses on the overall development of the employees, initially the candidates will be
given three clays training based on the general topic like about, the company, they are
going to with, sales techniques etc. And this will be done by the expert from famous
training house. The newly selected candidates are not allowed to enter the counter for
selling when they come. To enter the sales counter the candidates have to proof his
selling when lacing the customers. If the supervisor thinks he is competent enough to
deal the customers he is allowed to assist a senior sales person. And this senior person
will help the candidate to learn have top route a sale Here in M.K group the candidate
will get experience as sales while doing counter sales, he will get experience as a
cashier, he will get experience in human resources department, accounts. markets etc.
this type of training is only to make sure that is capable of becoming good further
manages and should capable of understanding these functions as a manger. Here the
training will only to end when he become a manger of the showroom.
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MARKETING DEPARTMENT
Marketing Department has a key role to play in the profit and development in any
kind. of business. It is a business function engaged with movement of products.
Ability to sell the products is the critical task in traditional marketing concepts of
efforts that affects transfer of ownership of goods of their physical distribution.
MARKETING ACTIVITIES
The marketing manager makes an annual plan tor marketing activity to be undertaken
during the year considering the budget given by the finance department. The annual
plan will be approved by the chairman and a copy of same will be given to the CM
and accounts department. Every marketing activity detailed in the annual plan will be
undertaken after receiving the proposal from different advertising agencies. A release
order is prepared in translate to the best advertisement agency, based on their work,
cost time lines and reliability. The release order approved by the GM and copy will be
forwarded to accounts department. On execution of the work order the marketing
manager and his assistants monitor the work executed in terms of print, TV radio and
outdoor advertisements for the quality and also for the outcome.
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MARKETING CHANNEL
ADVERTISEMENT
T V advertisement
Display boards
Press advertisement
Personal gift
Exhibition
MARKETING FUNCTION
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Marketing Department
Sales Manager
Sales Officer
COMPETITION
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M.K Fabrics operates highly competitive and fragmented markets and competition in
these markets is based primarily on market trends and customer preferences. The
players in the organized sector offer their products at highly competitive prices and
many of them are well established in their local sectors M. K Fabrics also compete
against certain organized national regional and local players.
PROMOTIONS
ADVERTISEMNTS
FINANCE DEPART
1. Selecting those projects based on risk and expected return that are best use of
company’s resources
MENT
The five basic corporate functions are described as those functions related to:
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3. Management of company cash flows and balancing the ratio of debt and equity
Financing to maximize companies value
4. Management of risk exposure to maintain optimum risk teturn trade of
maximizes shareholder value
This department plays important role in the company because it can substitute
initiate and support projects which may include ail other departments and can improve
company performance. Business development department supports and guides
companies strategic planning, influences shown term long tern goal settings and
provides information for effective decision making in company management.
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OBJECTIVES
To maintain institutional sales progressively
Initiate co-branding activities to enhance the brand position oi’ M.K. Fabrics
Enhancement customer relationships and brand loyalty
Constant market analysis is to ascertain market perception change and
competitiveness.
MANGEMENT
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At showroom level the complaints are resolved by the showroom manager all written
complaints are recorded in the complaints feedback register by customer relation
executive. These complaints are attended immediately. The customers are given a call
within 2hrs. And a solution is found within 48 hrs. The customer relationship
employee will hand over into the concern departments and find suitable solutions to
the complaint. Serious issues are brought into the attention of G.M. The remedial
actions are taken to the complaints recorded in the complaint books. All complaints
the preventive and corrective actions taken shall be discussed during the managent
review meetings.
FEEDBACKS
ADMINISTRATION DEPARTMENT
TOP MANAGEMENT
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MANAGEMENT REPRESENTATION
The chairman has appointed the general manager HR? Internal Audio as
the management representative besides other representatives
Ensure that process of the QMS is established and maintained on
continuous basis to meet the goals of company policy requirements and
third party company requirements
Reports to top management on performance of QMS through performance
of QMS through periodic internal audit of the system as per national
schedule
Promote awareness of consumers requirements and market needs during
the meeting throughout the organization based on the feedback from
marketing manager the internal auditor H.R has been assigned as the QMS
co-ordnator to assist the implementation and maintenance of QMS
LOYALTY DEPARTMENT
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MARKET SURVEY
1. Period base market survey about product and services
2. Introducing new product to the market
3. Competitive study between M.K. Fabrics and competitors
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INTERNAL COMMUNICATION
7. Press publications dealing with the organizations activities are circulated through
notice boards, internet and website
8. Employee’s newsletter
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MANAGEMENT REVIEW
COMPETITORS
1. JOLLY SILKS
2. SEEMAS
3. R K SILKS
4. KAMESS
5. WEDLAN
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Board of Directors
MD
managing Director
Group Executive
General Manager Manager
Financial Company
IT Manager HR Manager Marketing Manager
Manager Secretary
Legal Assistant
Officer Secretary
Manager Manager
Accountant Accountant
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MARKETING STRATEGY
Marketing strategy is a long term, forward-looking approach to planning with the
fundamental goal achieving a sustainable competitive advantage. Strategic planning
involves an analysis of the company`s strategic initial situation prior to the
formulation, evaluation and selection of market-oriented competitive position that
contributes to the company`s goals and marketing objects.
Strategic marketing, as a distinct field of study emerged in the 1970s, and built on
strategic management that preceded it. Marketing strategy highlights the role of
marketing as a link between the organisation and its customers.
“The marketing strategy lays out target markets and the value proposition
that will be offered based on an analysis of the best marketing
opportunities”. (Philip Kotler & Kevin Keller , marketing management
,pearson,14th edition)
“An over –riding directional concept that sets out the planned path” (David
Aaker and Michael K. Mills )
“An explicit guide to the future behaviour.”(Henry Mintzberg, Harvard
business review )
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The first and the most important objective of the marketing strategy is to create
customers for the business. The marketing strategy attracts the customers through
advertisements and sales promotion activity to buy the product and services of the
firm. This facilities increases the sales
Customer is the king of the market. Modern marketing begins and ends with the needs
of the customers. The marketing strategy study the needs of the customers and take
steps to offer the goods and services needed by the customers. Then only the business
can survive
The marketing strategy determines the marketing mix that satisfies the needs of the
customers. Product pricing, promotion, and physical distribution should be so planned
to meet the requirements of different kinds of customers.
The main objectives of any business is to earn profit. Profit is highly needed for the
growth and diversification of the firm. The marketing department is the only
department which generates revenue for the business. So marketing strategy has
gained much importance.
CREATING GOODWILL
For creating new customers and also for retaining them, the business has to build up a
public image. For that the marketing department has to provide quality goods at
reasonable prices to the customers. If a firm enjoys goodwill in the market, it will
increase the morale of its sales force.
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Marketing strategy attempts raise the standard of living of the people by providing
them better products at reasonable prices.
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Strategic analysis is design to address the first strategic question, ‘where are we now’?
Traditional market reaserch is less usefull for strategic marketing because the analyst
is not seeking insight about customer attitudes and preferences. Instead strategic
analysts are seeking insights about the firm operating environment with a a view to
identifying possible future scenarios opportunities and treats
Strategic planning focuses on the three 3c`s, namely : customer, corporation and
competitors. A detailed analysis of each factor is key to the success of strategy
formulation. The `COMPETITORS` element refers to an analysis of the streangth of
the business relating to close rivals, and a consideration of competitive treads that
might impinge on the business `ability to move in certain directions. The
`CUSTOMER` element refers to an analysis of any possible changes in customer
preferances that potentially give rights to new business opportunities.
The most commonly used tools and techniques are used for , research methond
analytical techques
MARKETING CONCEPT
MARKETING CONCEPT is a philosophy, an attitude or a course of business
thinking. It was born out of the awareness that marketing starts with the determination
of consumer needs orientation backed by integrated marketing aimed at generating
consumers satisfaction. It is a way of life in which all organisational resources are
mobilised to create, stimulate and satisfy the consumers at a profit to the firm.
`The concept` represents radically new approach to business concept means a change
in orientation on the part of management towards business. The change occurs from
production orientation to marketing orientation, product orientation to customer
orientation, supply orientation to demand orientation, volume orientation to profit
orientation, sales orientation to satisfaction orientation and from internal orientation to
external orientation. The different concepts of marketing are following:
Business concept
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Production concept
Product concept
Selling concept
Marketing concept
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PERCENTAGE ANALYSIS
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60
60
50
40
30
20
20
10 10
10
0
20-35 36-50 51-65 66 or above
Interpretation
It was noted that 60% of the population belongs to age group of 20-35
enjoyed the advertisements of. M.K. Fabrics, Kollam, 20% of the respondents
belongs to 36-50 enjoyed the advertisements, 10% of the respondents belongs to
51-65 and 10 % belongs to group of 66 or above.
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Influences of advertising
60
60
50 40
40
30
20
10
0
Yes No
Interpretation
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Media Information
6
10
Television
10 44 News paper
Radio
Posters
Others
30
Interpretation
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Effectiveness of Advertisement
76
80
70
60
50
40 24
30
20
10
0
Yes No
Interpretation
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2
4
12 Trust full words
Celebrities
44
Words with visual
14
Back ground music
Theme of advertising
Others
24
Interpretation
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theme of achcrtusmu. Bin others factors are not creates an impact on the
customers.
70 62
60
50
40
24
30
14
20
10
0
Positive Negative Neutral
Interpretation
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60
60
50 40
40
30
20
10
0
Yes No
Interpretation
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Opinion of customers
36
40
35
26
30
25 18 20
20
15
6
10
5
0
That It may be The The brand is None
product is expensive company is facing
high quality big one intense
competition
Interpretation
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16
Very good
Good
52 Moderate
No opinion
24
Interpretation
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their impression is good, 14% of the respondents revealed that their impression
is moderate and the 10% of the respondents have no opinion.
50
50
45
36
40
35
30
25
20 12
15
10 2
5
0
Agree Strongly agree Disagree Strongly
disagree
Interpretation
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Motivating Factor
60
60
50
40
30 22
20 8 6 4
10
0
Interpretation
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10
10
Television
News Papers
50
Magazines
Posters
30
Interpretation
It was noted that 50% of the respondents revealed that television is most
effective media of advertisements for M.K FABRICS, Kollam. 30% of the
respondents revealed that news paper is an effective media. 10% of the
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60
60
50 40
40
30
20
10
0
Yes No
Interpretation
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36%
Yes
No
64%
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Interpretation
64% of the respondents are discuss about advertisement with friends and
relatives. 36% of the respondents are not discuss about advertisement.
MAJOR FINDINGS
From the study it is found that 60% respondents belong to age group of 20-35,
20% belong to 36-50. Belongs to 51-65 and 10% belongs to age group of 66 or
above
From the study it is found that 60% of respondents opinions that advertising
influence the respondents and 40% opines that it does not have any influents on
them.
From the study it is found that 44% of total respondents got information about
MK FABRICS through television 30% through news papers 10% through radio
10% through poster 6% Other media news papers 10% through radio 10%
through posters 6% other media
From the study it is found that 76% of respondents of revealed that
advertisement is informative 24% of respondents advertisement is not
informative.
From the study it is found that 82% of the total respondents revealed that the
advertisement is effective an informative
From the study it is found that 62% of the total respondents revealed that
advertisement MK FABRICS create positive impact on them 40% of the total
respondents revealed negative impact of advertising MK FABRICS and 24%
of the iota! respondents revealed that advertisement create MK FABRICS
neutral impact on them.
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From the study if found that 60% of the total respondent are used discount
coupons. 40% of the total respondents are not used discount coupons.
From the study it is found that there are 52% of the total respondents revealed
that their impression regarding the advertisement is very good, 24% of the
respondents revealed that their impression is good. 16% of the revealed that
their impression is moderate and the 4% of the respondents have no opinion.
From the study it is found that 100% of the respondents revealed that effective
media advertisements are television, newspaper magazines.
From the study it is found that 60% of the respondents are interested to
purchase from MK FABRICS with regard to luxurious facilities 40% are not
interested.
From the study it is found that 64% of the respondents discuss about
advertisement with friends and relatives 36% do not discuss with their friends
and relatives.
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CONCLUSION
In this competitive business filed company should implement more and better
sales promotion activities. Company have good distribution network, so that they can
provide their product at the right time to the right customers. Company should
maintain good sales promotion and brand building activities to retail existing market
shares.
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SUGGESTIONS
Promotion should be taken effectively for the kids segment TV adds should
make more simple and attractive.
Company should take necessary action towards correcting thernegative impact
created in the minds of consumers through advertisement.
Company should make sure that the promotional measures are reaching the
customers at the right time effectively.
Company should take steps towards the attainment of 100% level of customer
satisfaction.
It is batter to include celebrities in advertisements as they influence the public
very much and their shopping mind.
Advertisements should be effective, brief and attractive, so that it can easily get
captured in the mind of consumers.
More priority should be given to product information and price, since most of
the respondents prefer to know such factors.
It is better to provide parking facilities
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BIBLIOGRAPHY
3. G.V. Shenoy, Madan Pant, Statistical methods in business and social sciences,
reprinted 2003 Macmillan India LTD.
WEBSITES
1. https://www.google.com
2. https://Wikipedia.com
3. https://www.mgnrega.com.in
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APPENDIX
INTERVIEW SCHEDULE
a. Yes b. No
a. Yes b. No
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Study on marketing strategy and advertisement of MK Fabrics
a. Yes b. No
8. What does the picture of a famous personality in the TV advertisement make you
think that?
b. It may be expensive
e. None
10) Do you agree that MK FABRICS Provide all the facilities that shown in the
advertisement?
11) What are the factors that motivate you to choose MK FABRICS?
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Study on marketing strategy and advertisement of MK Fabrics
a. Yes b. No
14) Does the air condition showroom of MK Fabrics Kollam Persuade you to shop
again?
a. Yes b. No
15. Do you discuss about advertisement with your friends and relatives?
a. Yes b. No
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