Business Studies Project on Marketing Management

Session 2019-20

Name
Roll No

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Index
Introduction

Why I selected this product

My competitions

PRADA

SWOT analysis

Tommy Hilfigier

Swot Analysis

Gucci

Swot Analysis

Louis villion

Swot

MY Product

USP of my product

Features

Branding

Pricing

Distribution channel
Packaging

Production

Cost effective techniques

Social message

Conclusion

Bibliography

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Acknowledgement

I would like to express my thanks of gratitude to my teacher

________ who gave me the golden opportunity to do
this wonderful project on the topic which helped me in doing
a lot of research and gaining knowledge and I really
thankful to my parents and friends who helped me a lot in
completion of this project.
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Objective of this Project

Marketing Management is concerned with all those activities which are essential to
determine and satisfy the needs of customers so as to achieve the objectives of
business. Thus, the prime objective of marketing management is to achieve the

objectives of the business.

The major objectives of marketing are as follows:

1. To satisfy the customers: The marketing manager must scientifically study the
demands of customers before offering them any goods or services. Selling the
goods or services is not that important, as the satisfaction of the customer’s needs.

2. To increase profits for the growth of the business: The marketing department is
the only department which generates revenue for the business. Sufficient profits
must be earned as a result of sale of want-satisfying products.

3.To generate customer base for the business: The Marketing manager must attract
more and more customers to buy the firm’s products and services. This will also
result into increased sales.
4. To determine marketing-mix that will satisfy the needs of the customers.
Product, pricing, promotion and physical distribution should be so planned as to
meet the requirements of different kinds of customers.

5. To increase the quality of life of people: Marketing Management attempts to

increase the quality of life of the people by providing them better products at
reasonable prices.

6 To create good image: To build up the public image of firm over a period is
another objective of marketing. The marketing department provides quality
products to customers at reasonable prices and thus creates its impact on the
customers. The marketing manager attempts to increase the goodwill of its
business by initiating image building activities. If a firm enjoys goodwill in a
market, it will increase the morale of its sales-force.

So objective of this project is to study these activities involved in launching a

product.

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Introduction
• Marketing management is the organizational discipline which
focuses on the practical application of marketing orientation,
techniques and methods inside enterprises and organizations
and on the management of a firm's marketing resources and
activities.

• Marketing refers to performance of business activities that

direct and regulate the flow of goods and services from the
point of production to the consumers.
• Market refers to a place (not necessarily physical boundaries)
where the exchange of goods and services take place for a
monetary value.
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Introduction to Marketing Mix

Marketing Mix
Marketing Mix, a term coined by Neil Borden, are the ingredients that combine
to capture and promote a brand or product’s unique selling points, those that
differentiate it from it’s competitors. The ideas behind Borden’s model were
refined over the years until E. Jerome McCarthy reduced them to 4 elements
 called “The Four Ps.” This
proposed classification has been used by marketing companies, branding
agencies and web design companies throughout the world.

The Four Ps of Marketing

The Four Ps Model
Product – The first of the Four Ps of marketing is product. A product can be either
a tangible good or an intangible service that fulfills a need or want of consumers.

Whether you sell

custom pallets and wood products or provide luxury accommodations, it’s
imperative that you have a clear grasp of exactly what your product is and what
makes it unique before you can successfully market it.

Price – Once a concrete understanding of the product offering is established we

can start making some pricing decisions. Price determinations will impact profit
margins, supply, demand and marketing strategy.

Similar (in concept) products and brands may need to be positioned differently
based on varying price points, while price elasticity considerations may influence
our next two Ps.

Promotion – We’ve got a product and a price now it’s time to promote it.
Promotion looks at the many ways marketing agencies disseminate relevant
product information to consumers and differentiate a particular product or service.
 Promotion includes
elements like: advertising, public relations, social media marketing, email
marketing, search engine marketing, video marketing and more. Each touch point
must be supported by a well positioned brand to truly maximize return on
investment.

Place – Often marketers say that marketing is about putting the right product, at
the right price, at the right place, at the right time.
 It’s critical then, to evaluate what
the ideal locations are to convert potential clients into actual clients. Today, even in
situations where the actual transaction doesn’t happen on the web, the initial place
potential clients are engaged and converted is online.

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Why have I selected this product?

. Today’s handbags come in all shapes, sizes, and forms. And whether it’s to
complete an outfit or to simply hold one’s things, they provide value - functional

and aesthetic - to their wearers. But what if another ability could be added to the
handbag’s value set, an unfulfilled one that solves size problems and enhances

personalization for its wearer?

For most potential Ladies customers, thinking about handbag is like something
they can’t forget to take with them while going out.

So, if you want to sell a product

where you don’t need to work hard to convince the customers of its awesomeness,
handbag is the perfect choice. Also, its target customer is clear and no complexity
in choosing the areas where one have to advertise regarding the product.
So considering all these points I think It’s a great product to launch.

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My competitions:
1. PRADA
Prada S.p.A. is an Italian luxury fashion house, specializing in leather handbags, travel
accessories, shoes, ready-to-wear, perfumes and other fashion accessories, founded in 1913

by Mario Prada.

Mario Prada did not believe that women should have a role in business, and so he prevented female
family members from entering his company. Ironically, Mario's son harbored no interest in the
business, so it was his daughter Luisa Prada who took the helm of Prada as his successor, and ran
it for almost twenty years. Her own daughter, Miuccia Prada, joined the company in 1970, eventually
taking over for her mother in 1978.

SWOT analysis
Prada is one of the leading brands in the lifestyle and retail sector. The table below also lists the top
Prada competitors and elaborates Prada segmentation, targeting, positioning & USP.
Below is the Strengths, Weaknesses, Opportunities & Threats
(SWOT) Analysis of Prada. Strengths are:
Strengths:

1. Prada is one of the most etablished luxury fashion houses worldwide

2. Prada products are known for its quality and unique designs

3. Has a strong association of luxury and premium attached to it

4. The brand has a strong presence in and around the world

5. Good advertising and branding through print ads, online ads etc
make Prada a very popular brand name

6. More than 12000 people are employed with the organization

7. Strong legacy of the brand Prada since its inception in 1913

8. Prada is actively involved through shows, boutiques and also makes

perfumes, premium watches etc

Weaknesses:
Here are the weaknesses in the Prada SWOT Analysis:

1. The brand has severe competition and hence there is high brand switching

2. Fake imitation of Prada products affects the brand image and its business

Following are the Opportunities in Prada SWOT Analysis:

Opportunities:
1. Entrance in emerging markets can be tapped by Prada
2. Capitalising the digital medium to increase its reach where it is not available

3. Tie-up with fashion houses through partnerships to increase awareness

4. Prada can collaborate with leading hotel chains, elite clubs etc whether rich
people could become customers

Threats:
The threats in the SWOT Analysis of Prada are as mentioned:

1. Intense Competition in luxury fashion can lead to decline in Prada'sbusiness

2. Easily available substitutes can reduce profit margins

3. Change in economy which may reduce the dependence on luxury fashion

4. Being a global brand, its business is subject to recession, economic conditions

etc.

2. Tommy Hilfiger
Tommy Hilfiger, formerly known as Tommy Hilfiger Corporation and
Tommy Hilfiger Inc., is an American premium clothing company,
 manufacturing apparel, footwear,
accessories, fragrances and home furnishings. The company was founded in
1985, and today is sold in department stores and over 1400 free-standing
retail stores in 90 countries.

SWOT Analysis
Tommy Hilfiger is one of the leading brands in the lifestyle and retail sector. The table below also
lists the top Tommy Hilfiger competitors and elaborates Tommy Hilfiger segmentation, targeting,
positioning & USP.

Tommy Hilfiger SWOT Analysis

Below is the Strengths, Weaknesses, Opportunities & Threats
(SWOT) Analysis of Tommy Hilfiger.
Strengths :

1. Strong Recognition being a Global Brand

2. Strong distribution Network globally

3. Presence in more than 90 countries and more than 1000 retail stores in North
America, Europe, Central and South America and Asia Pacific.

4. Cool, American Style designs by reputed designer Tommy Hilfiger

5. Associations and promotion from popular celebrities

6. Advertising and brand visibility is very popular

Weaknesses
Here are the weaknesses in the Tommy Hilfiger SWOT Analysis:

1.Segment has huge competition from established brands hence brand switching
is high

2.Brand Protection and Maintenance Costs are high

Opportunities
Following are the Opportunities in Tommy Hilfiger SWOT Analysis:

1.Innovation in apparels

2.Expansion of product line and Services

3.Increasing amount of disposable income in emerging economies

Threats
The threats in the SWOT Analysis of Tommy Hilfiger are as mentioned:

1.Intense Competition from international brands

2.Economic slowdown which will cause reduction in demand for premium priced
products

3. Constantly changing fashion trends means inventory issues.

3. Gucci
Gucci is an Italian luxury brand of fashion and leather goods. Gucci was founded
by Guccio Gucci in Florence, Tuscany, in 1921. Gucci generated about €4.2 billion
in revenue worldwide in 2008 according to BusinessWeek and climbed to 41st
position in the magazine's annual 2009 "Top Global 100 Brands" chart created by

Interbrand;

Gucci is also the highest-selling Italian brand. Gucci operates about 278 directly
operated stores worldwide as of September 2009, and it wholesales its products
through franchisees and upscale department stores.
Gucci SWOT Analysis
Strengths

Strengths are:

1. Gucci has a strong Brand Image and brand equity

2. Gucci controls its distribution Channels effectively

3. Strong chain value with suppliers and retailers

4. There are more than 250 directly operated stores of Gucci

5. Has a huge product portfolio like apparel, clothing, wallets, watches etc

6. Gucci has partnered with UNICEF as a part of CSR initiative

7. Associations with automobile companies like Ford, General Motors, Fiat added brand value

8. Excellent advertising and marketing has made Gucci a top of the mind fashion brand

Weaknesses
Here are the weaknesses in the Gucci SWOT Analysis:

1.Has to invest huge money in order to protect and maintain its brand image

2.Gucci has to face losses because of cheap fake imitations of the brand worldwide

Opportunities
Following are the Opportunities in Gucci SWOT Analysis:

1. Gucci can tap emerging luxury markets in emerging economies like India and China

2. Creating competitive advantage in different business segments can be an opportunity for Gucci

3. To target the youth segment which stylish designs

Threats
The threats in the SWOT Analysis of Gucci are as mentioned:
1. Extremely competitive segment means limited market share growth for Gucci

2. Product substitution is easily available

3. Being a global brand, it is vulnerable to global price fluctuations, recession etc

4.Louis Vuitton
Louis Vuitton Malletier, commonly referred to as Louis Vuitton or shortened
to LV, is a French fashion house and luxury retail company founded in 1854

by Louis Vuitton. The label's

LV monogram appears on most of its products, ranging from luxury trunks and
leather goods to ready-to-wear, shoes, watches, jewelry, accessories,
sunglasses and books. The 2013 valuation of the brand was US$28.4 billion with
revenue of US$9.4 billion.The company operates in 50 countries with more than
460 stores worldwide.

Louis Vuitton SWOT Analysis

Louis Vuitton. Strengths are:

1. Louis Vuitton is one of the oldest fashion houses with more than 150 years of
history

2. Louis Vuitton brand is easily recognizable because of its logo and monogram
canvas on most of its products
3. The brand has its presence in most of the large shopping hubs and multi-retail
brands of the world

4. The brand is available exclusively in more than 450 stores in 50+ countries

5. Louis Vuitton also makes custom tailored products for its few elite customers

6. The brand has a clientele including international celebrities

7. Extremely high brand recall and global presence

8. Advertising and marketing using celebrities like sports stars, film stars are
effective

Weaknesses
Here are the weaknesses in the Louis Vuitton SWOT Analysis:

1. Immense competition in the segment makes market share growth for Louis
Vuitton slow

2. Fake imitations affects brand reputation and hurt sales

Opportunities

1.The company needs to adopt the current fashion trends to stay in business

2. Louis Vuitton can engage customers online and increase business through
ecommerce platforms

3. Expansion of the brand into emerging economies targeting rich people with
affluent lifestyles
4. Tie-ups with leading hotel chains, fashion houses, lifestyle events etc can boost
business for Louis Vuitton

Threats
The threats in the SWOT Analysis of Louis Vuitton are as mentioned:

1. Fake products all around the world affects the business

2. Economic crisis and recession can adversely affect Louis Vuitton's business

3. Government policies on international trade can slowdown operations

4. Increasing competitor activity can lead to decline of sales for Louis Vuitton
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MY Product

Introduction:

My product is ladies bag and name of brand is “Signora” which is an Italian word
for Madam.
All ladies bags were made up of minimal leather and with recycled plastic.
It will provide the value for money and will be eco-friendly as it will help in
reducing the bad effects of plastic to the environment. It will match be popular
among Women because of its unique design and cost.

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Tag Line

“STYLE OF SIMPLICITY”

USP

Stylish and fashionable bags to add value to one self.

Features of my product

-Most of the bag’s fabric will be made with help of recycled plastic.

-New look and designs of the bag.

-Low cost. Cost effective solutions for everyone’s need.

-A brand look within the range of all income people.

-Easy availability as chains of brand will be at most of the tourist spots.

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Branding
Branding is a process of assigning a distinctive name or a symbol to a product by
which it is to be known and remembered.

The company’s brand has been named as “Signora” as our company is targeting
mostly women. Signora is Italian word for Madam.
Being a women centric product this has to give a sense of high comfort while
carrying and a sense of style and class.

The brand name has been registered and so is the tagline and logo.

So for trademarks and branding of the handbag , the logo is used as shown.

The reason behind the design of this type of Logo is that It should emphasize on
the thing that it’s a women brand and we want our customer to feel as a Queen or
Princess. The Golden color is selected for the logo to match with the product as
most of the bags have a steel body logos and hence Golden color logo will match
with any type and color of leather bags.

Labeling:

Labeling is a part of branding and enables product identification. It is a printed

information that is bonded to the product for recognition and provides detailed
information about the product. Customers make the decision easily at the point of
purchase seeing the labeling of the product.

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Pricing

The term price denotes the money value of a PRODUCT OR SERVICE. It is the
amount of the money the seller is asking for the product he offer for sale or the
amount which buyers have to pay for it. Price is the important element in the
marketing mix of a firm and affects other componrents of the marketing mix.

Price of the product is different for the wholesaler and retailers and customers.
Customers commonly buy their bags from showrooms in a number of units but
wholesaler buy in bulk. The prices of wholesaler, Retailer and customers are
shown in the following table four our main product in this segment.

Pricing of two main products in the segment of Signora Hand Bags

Wholesaler Retailer Customer

1500 2200 2999
900 1500 1999

Our company has comparatively very low prices as we first want to establish in the
market by promoting our product to a lot of people.
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Distribution Channel
A distribution channel in marketing refers to the path or route through which
goods and services travel to get from the place of production or manufacture to
the final users. It has at its center transportation and logistical considerations.
Business-to-business (B2B) distribution occurs between a producer and
industrial users of raw materials needed for the manufacture of finished products.
For example, a logging company needs a distribution system to connect it with
the lumber manufacturer who makes wood for buildings and furniture.
Business-to-customer (B2C) distribution occurs between the producer and
the final user. For instance, the lumber manufacturer sells lumber to the furniture
maker, who then makes the furniture and sells it to retail stores, who then sell it
to the final customer.
I choose to use the 3rd level of indirect distribution channel.
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Packaging

Primary Packaging: The product will be covered with a 50 micron polythene

sheet to protect from dust and other risks.

Secondary Packaging: The bags will be covered with another layer of 70 micron
polythene sheet for safety.

Transportation packaging: Few bags together will be packed in a carton to avoid

damages to the product while transportation.

Transportation
Transportation:

Transportation refers to the movement of product from one location to another as

it makes its way from the beginning of supply chain to the customer.

Transportation is an important supply chain driver because products are rarely

produced and consumed in the same location.

We will use road transport system for transportation of Signora bags.

Road Transport Advantages:

It is a relatively cheaper mode of transport as compared to other modes.

It is a flexible mode of transport as loading and unloading is possible at any

destination.

It provides door-to-door service.

It helps to carry goods from one place to another, in places which are not
connected by other means of transport like hilly areas.

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Permission and license to make the product

PERMISSIONS AND LICENSING…

• Land use permits

• Occupational licenses

• Manufacturing license

• Sales tax license

• Fire department permits

• Air and water control permit.

Production:
First, cutting and preparing components, where semi-finished products originate; then, assembling and
checking against quality. If products are good, they are packed and shipped out. Otherwise corrective
actions are triggered to handle error (not modeled).

In the two exclusive gateways, the make-or-buy business decision is made, by comparing the costs and
benefits of carrying out internal or external manufacturing of product components, via outsourcing to a
third party specialist.

Following steps are taken when designing a new design bag:

1 Design
The design process starts when there is a need for a handbag creation. Should
it be a wallet, tassel keychain, or handbag, first one needs to hand-sketch all
designs . Other options for designers may use of programs such as CAD
software.
2 Sample & Pattern Making

This is an important step in the process because your manufacturer may have
important insight into design construction that may affect the overall outcome
of the bag.

This may change the design and cost of the pattern and sample.
After the meeting where everything from stitching to pockets is decided,One
has to bring chosen leather for the sample. One has to work keenly together
to order chains, zippers, and hardware from other businesses.

3 Test Mode
Once the sample is done testing of the product is done.

4 Cutting dies and T.O.P.

Cutting dies are then made for each individual pattern piece for the bag.
Each piece is cut out of wood in the shape of the pattern piece with sharp
metal ringed edge. These cutting dies are then laid on top of the leather in the
production stage to cut the leather. Utilizing cutting dies removes the need
for hand-cutting.
A TOP (top of production) is created first from the cutting dies to make sure
they were made correctly and each piece of the bag fits together nicely.
5 Move to Production

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Social message
 “Care In Style with Signora”

Cost Effective methods of promotion:

-We will go for conventional form of promotion print media and others
i.e.Newspapers, Television, Direct mail, Radio .

This will provide a direct promotion of the product in the desired demographic.

-Another cost effective and very powerful method we will use is promotion
through Internet.

Internet is very much needed advertisement media and it is economical too.

We can directly track the reach of our promotion campaign through internet and
hence it is goal and sale oriented.

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Conclusion:

Through the extensive study of the marketing mix and tools of marketing we reach
to conclusion that there are various steps of a product launch and in case of the
hand bags Signora we have to look various aspects of productions and
competition. We conclude that to launch a product an extensive study of market
and competitors is needed. Some of the attributes which influence consumer
behavior are:Product quality,Branding,Packaging,And Advertisement.

The consumers of handbags are very much aware of the products. Awareness

about the product regarding the comfort and style is very high in the consumers.
Influence in the purchase of the bags mainly depends on the design and durability
of the product. Attributes of a particular brand also play an important role in the
purchase. Attributes like reasonable price, quality, durability plays its significant
role.

During the course of launching any product it becomes very necessary to follow
the rules of marketing and business. By following the step by step procedure of
product launch and market survey of other brands also play an important role in
defining the USP and market value of the product.

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Bibliography:
https://www.slideshare.net/FaizanKhan157/marketing-management-project-on-hair-oi-l-class-12th-by-
faizan-khan

https://www.slideshare.net/sanginishah14/lavie-bags-branding

https://www.slideshare.net/kamepalliakanksha/business-studies-project-grade-12

https://study.com/academy/lesson/distribution-channels-in-marketing-definition-types-examples.html

https://businessjargons.com/labelling.html