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Contents• Introduction • Marketing Mix Analysis • Marketing Mix Problems • Solutions • Suggestions and Recommendations• Conclusion
Intro- Maha Fashion Corner• Organization: Maha Fashion Corner & Academy. • Owner: Mrs.Y.Manchula• Type of the Organization: Sold properties • Registration: NAL/DS/1184 • Address: No-25, Burudi Lane,
Ariyalai, Jaffna.
• Type of the business activity:1. Providing the handmade jewelry course and art works. 2. Selling the handmade jewelry items
1. Providing the handmade jewelry course and art works.
Main courses: Basic courseAdvance courseDiploma course
• The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.
Marketing Mix
• A product is anything that can be offered to a market or attention, acquisition, use or consumption that might satisfy a want or need.
• Products that are marketed include physical goods, services, experience, events, persons, properties, organizations, information and ideas.
• In retailing, products are called merchandise. In manufacturing, products are bought as raw materials and sold as finished goods.
01.Product
Product – Maha Fashion Corner
Necklaces
Necklaces
Earrings
Rings
Gift cards and Gift voucher
Basic course
Advance course
Diploma course
Product
ServiceMAHA FASHION CORNER
& ACADEMY
Product Clssification(Tangibility & Intangibility)
Quality• Customer’s point of view they believe the handmade jewelries and
art works are in good quality. We have to measure the quality of this kind of products based on the customer’s satisfaction. There is no any generally accepted standards or quality measurers like SLS, ISO.
Product mix.• Product mix, also known as
product assortment, refers to the total number of product lines that a company offers to its customers.
• The four dimensions to a company's product mix include width, length, depth and consistency.
Jewelry Making
Fashion Jewelry Making
Terracotta Jewellery
Silk Thread Jewelry
Terracotta Jewelry
Art Work
Fabric painting
Glass Painting
Pot Painting
Paper Quality
Stocknet Flower Making
Fashion Candle
Other Art Works
Cloth Work
Saree Work
Screen Painting
Wall Hanger Making
Course Providing
Basic Course
Avance Course
Diploma Course
Width
Depth
Length
Maha Fashion Corner - Product Mix
02.Price• The price of the product is basically the amount that a
customer pays for to enjoy it. Price is a very important component of the marketing mix definition.
• It is also a very important component of a marketing plan as it determines your firm’s profit and survival. Adjusting the price of the product has a big impact on the entire marketing strategy as well as greatly affecting the sales and demand of the product.
Steps in Setting Price• Select the price objective• Determine demand• Estimate costs• Analyze competitor price mix• Select pricing method• Select final price
Price Mix of Maha Fashion Corner.• Normally they classified into three categories of their training course and this three type of courses
are having different value. Basic course – 5000/- Advance course-10000/- Diploma course-15000/-
• The cost of this course is 20%, other 80% is there profit margin.
Course Course fees
Cost Profit
Basic 5000 1000 4000Advance 10000 2000 8000Diploma 15000 3000 12000
Cost
20%
Profit80%
Course fees
CostProfit
She receive Rs.10000/- per day with transport, food and accommodation for Department base course providing service.
Sometimes she is providing her service without any course fees.Eg: Recently Screen Printing Technology course was provided by her institution for “Women in need Organization” without any fees.
For foreign exports her profit margin is 200%.
She adds an acceptable profit margin for other tangible products.
3,200/-
03.Place• Placement or distribution is a very important part of the product mix definition. You have to
position and distribute the product in a place that is accessible to potential buyers.
• This comes with a deep understanding of your target market. Understand them inside out and you will discover the most efficient positioning and distribution channels that directly speak with your market.
• There are many distribution strategies, including:• Intensive distribution• Exclusive distribution• Selective distribution• Franchising
Place mix in Mahi Fashion Corner & Academy.•She uses her own house for her all kind of business activity, which is located in No-25, Burudi Lane, Ariyalai, Jaffna. •She believes this place is very suitable for her business activity, because which is very easy to access the bus stand. (Nearly 200M away) and peaceful environment for conducting the classes.•She is also sending the goods to other districts by koerier service.
•She sends raw-materials for her friends by bus, Normally Batticalo and Trincomalle buses are using by her without any charges.• She is selling her goods by direct selling for some customers.Now she gave the right to sell her products to Shoppy beauticians. •She uses her own motor bike for his transport purpose, when she goes to conduct the classes outside.•She uses the department vehicles, when she goes to conduct the lecturers for department students. (Transport allowance is also given by them)•She exports some goods for foreigners by koerier service with the koerier charge.
04.Promotion• Promotions refer to the entire set of activities, which communicate
the product, brand or service to the user. The idea is to make people aware, attract and induce to buy the product, in preference over others.
• Promotion is comprised of various elements like: Sales Organization Public Relations Advertising Sales Promotion
Promotion Mix in Mahi Fashion Corner & Academy.• Their main promotion media is Social Media, like Facebook and G-mail.Facebook Page -
Mahi Fashion Corner and Academy.
• They are having own commercial web page – http://mahafashioncorner.com/
• Every year she gives advertisements to Newspapers. (Uthayan, Thinakkural, Valampuri) She gave many interviews to newspapers and magazines about her business activities.
• Their main promotion method is “Exhibitions”. Every year Industry Development Department conducts a provincial level exhibition on
August and national level exhibition on December, They usually participate this exhibition. DS office and samurthi office also conduct the exhibitions frequently, they participate this
all kind of exhibitions. She won 47 Provincial level awards and 2 national awards. In 2010 & 2011 she won the national awards. She also participated an exhibition “Entrepreneur’s” conducted by university of Jaffna in
2015 & 2016.
• Of both target market and people directly related to the business. Thorough research is important to discover whether there are enough people in your target market that is in demand for certain types of products and services.
• The company’s employees are important in marketing because they are the ones who deliver the service. It is important to hire and train the right people to deliver superior service to the clients, whether they run a support desk, customer service, copywriters, programmers…etc.
05.People
People in Maha Fashion Corner•There are 5 students usually help to her business activities.
Premila Priya Ushananthy Marena Jaculine
•Their target customers are mainly Department staffs and also exports her products to foreign customers. Australia Canada
06. Process• The systems and processes of the organization affect the
execution of the service.• So, you have to make sure that you have a well-tailored process
in place to minimize costs.• It could be your entire sales funnel, a pay system, distribution
system and other systematic procedures and steps to ensure a working business that is running effectively.
• Tweaking and enhancements can come later to “tighten up” a business to minimize costs and maximize profits.
Jewelry Making Process
Determine the
Requirement
Selecting the appropriate
supplier (India-
Bombay)
Purchasing the raw
materials through post
Check the quality of the
products
Make the Payment via
bank
Select the Appropriate
supplier
Make the jewels according to the
customer’s want
Make the jewels
Send the finished product through suitable
distribution channel
Collect the payment by
cash
Raw-material Purchasing process
Finished good sending process
07. Physical Evidence• The direct sensory experience of a product or service that
allows a customer to measure whether he has received value.
• Examples might include the way a customer is treated by a staff member, or the length of time a customer has to wait, or the environment in which a product or service is delivered.
Physical Evidence of Maha Fashion• They are the one and only Producer of Handmade jewelry
designers in Srilanka. They are having the monopoly advantage in Srilankan industrial context. So Maha Fashion have manipulated their consumer perception.
Marketing mix - Issues
• Quality issues when export the products out side the srilanka.
01.Product
• The key question is, can we ensure continuity of supply?
• Packaging and Labeling Problems• There is no sales after services.
02.Price• Pricing Over the Life Cycle of
the Product• There is no discounts • Problem in selecting the pricing
objective.
• She uses direct marketing for local customers there is no any other well developed distribution channels.
• Koerier damages.
• Product damages when sending by bus.
03.Place
• She don’t organize any sales promotion activities.
• There is no mass level advertisements.
04.Promotion
• There is no adequate staff members in this organization.
• She only target department staffs to supply her products.
05.People
Marketing mix - Solutions
• The only way to survive in our competitive world is by obtaining full customer satisfaction through the consistent delivery of high quality products and services.What these methods have in common is what I call 5 keys to Building Quality:
1.Continuous Improvement philosophy2.Consistency in everything you do3.Teamwork as part of the culture4.Routine Measure and Analysis5.Training for all
01.Quality
02.Packaging• The product packaging design plays a very important role in
branding your items in the retail environment. One thing that should be noted is that the ‘catchier’ the design is, the more audiences it will attract. A good packaging will also enable you to differentiate the products from your competitors.
• Physical protection• Attraction• Convenience• Information transmission • Affordable• Great value• Environment concerns
The purposes of packaging and package labels
03.Determine the correct pricing objective.
• Pricing objectives or goals give direction to the whole pricing process. Determining what your objectives are is the first step in pricing. Selecting the correct pricing objective is most important one.
• Offering potential customers discounts on purchases is a way to quickly draw people into your store. Anytime you tell a customer that he can save money, you’re likely to get his attention.
04.Offering Discounts
Meet GoalsIncrease SalesFree Up RoomAttract CustomersReputationSave Money
• Marketing actually comes after you’ve made this decision; it’s the strategy you use to reach your distribution channel. That’s why identifying a distribution channel is so essential.
• She have to open a retail shop to sell their products.
05.Selecting the correct distribution channel
06.Selecting the safe distribution
• They are facing many when send the products through mail & transport service to avoid damages and other costs.
07.Improve the promotion activities• Promotion refers to raising customer awareness of a product or
brand, generating sales, and creating brand loyalty. We found that they can improve their promotion mix in a acceptable manner.
1. To present information to consumers and others.1. To increase demand.2. To differentiate a product.
• In the end of the assignment, we have learned on how to identify the problems and causes which faced by the Maha Fashion Corner & Academy through the marketing mix strategies that included product, price, place and promotion. Furthermore, we also learned on how to justify the problem causes in order to find out any suitable alternatives and recommendations, which contain any threats, opportunities, weaknesses and strengths of the company to implement it.
• Besides that, we also learned the importance of an organization to do their market analysis to internal and external situation. These included the organization and the competitors marketing strategies, customer preferences and current market trend.
• In future, the challenges that Maha Fashion Corner & Academy might face is some competitors entering into this industry as the market of Fashion Design is keep on growing. In other words, there is still an opportunity for Maha Fashion Corner & Academy to sustain in this industry but it has to face the threat to invest more in marketing strategy in order to retain and acquire the customer from other competitors.
Conclusion