About Raymond………..The complete man

Raymond, one of the premier Indian textile major. Raymond was incorporated in 1925 and

has grown to a household name since then. The Raymond Group within a few years,

transformed from being an Indian textile major to being a global major. Raymond

manufactures, the world's finest fabrics- from wool to wool-blended worsted suiting to

specialty ring denims as well as high value shirting. Raymond is one of the largest players in

fabrics, designer wear, denim, cosmetics & toiletries, engineering files & tools, prophylactics

and air charter services in national and international markets. All plants are ISO certified,

leveraging on cutting-edge technology that adheres to the highest quality parameters while

also being environment friendly. Raymond Textile is India's leading producer of worsted

suiting fabric with over 60% market share. With a capacity of 25 million meters of wool &

wool-blended fabrics, Raymond Textiles is the world’s third largest integrated manufacturer.

The company exports its suitings to more than 50 countries including USA, Canada, Europe,

Japan and the Middle East. Over the years, Raymond Textile has developed strong in-house

skills for research & development, which has resulted in path-breaking new products.

Perceived as pioneer and innovator, Raymond Textile has been responsible for raising the

standard of the Indian textiles industry.

Trust, Excellence, Quality, these are some of the abiding values that have been associated

with Raymond over the years. Today, we have the distinction of being the world's largest

integrated producers of worsted suiting fabrics.

As an integrated player, we provide end-to-end fabric solutions right from manufacturing

worsted, woollen and linen fabrics to creating suits, trousers and apparel.

Their consistent focus on cutting-edge research and technology has resulted in pioneering

new products which have set new benchmarks in the worsted suiting industry in India.For

example, they have the distinction of producing the finest suiting in the world using super

fine wool from 80s to 240s count and blending the same with superfine polyester and other

specialty fibres, like Cashmere, Angora, Alpaca, Pure Silk, Linen etc.

They produce nearly 20,000 designs and colours of suiting fabric that have found their way in

over 55 countries including the European Union, USA, Canada, Japan and Australia among

others. Even as our products evolve with the times, the brand still caters to the different faces

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of 'The Complete Man'- a man who is caring, sensitive and places a huge premium on

relationships. They are today one of the largest players in fabrics, designer wear, denim,

cosmetics & toiletries, engineering files & tools, prophylactics and air charter services in

national and international markets. All their plants are ISO certified, leveraging on cutting-

edge technology that adheres to the highest quality parameters while also being environment

friendly.

Vision

– To be known as the leaders in

Worsted Suiting

Driven by high quality

– Building a long term equity with consumers across generations

Their Values

– Trust

– Leadership

–Quality

– Excellence

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Research Methodology

• Why the study?

The study has been conducted to understand the brand equity, brand recognition,brand

recalling , brand loyalty,brand association and perceived brand quality of Raymond.

• What is it about?

The study is about the brand identification of Raymond Suiting and Shirting.

• Where will the study be carried out?

The study has been conducted through online questionnaires and places

such as Inorbit Mall (Vashi).

• What type of data is required ?

The data required is both Primary and secondary. Primary data has been collected

through questionnaires.

• Where will the data be collected from?

The study has been conducted through online questionnaires and places such as

Inorbit Mall (Vashi).

• What sampling techniques be used to collect data?

The sampling techniques which have been used are simple random sampling and

judgemental sampling

• How will the data be collected?

The data is collected through Questionnaires.

• What is the time framework for the study?

The study has been conducted within the framework of one and a half months.

• How will the data be analyzed?

The data is analysed with the help of Microsoft Office Excel.

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• How will the report be presented ?

The report will be presented in the form of hard bound copy.

Brands under Raymond limited

Raymond Premium Apparel is a premium formal wear brand

which is postioned to offer classic garments with impeccable

fits and inviting styles to the Global Indian. Needless to say

that the product is made only from premium Raymond

fabrics.

Manzoni is a luxury lifestyle brand offering the discerning customer

a super premium range of formal wear and sportswear including

shirts, suits, trousers, jackets, ties and leather accessories. Our

exclusive designs provide customers the best in contemporary

international style & luxury. Each garment is crafted from the most

exotic cotton silk, linen and superfine wool, the best-in-the-world linings, interlinings and threads

sourced from around the globe.

Launched in 1986, Park Avenue is today, India's most admired formalwear brand. It offers

stylish and innovative wardrobe solutions to

gentlemen for all their dressing needs, be it Business,

Evening, Leisure, Travel or Heritage Wear. The

brand has received several awards. Recently, it had

the honor of being the 'Most Admired Brand' at the

Lycra Images Fashion Awards 2007 for the third consecutive year.

Crossing the gender divide, Park Avenue launched 'Park Avenue Woman' - a complete range

of Business Wear for women. ‘Park Avenue Woman’ is designed specially for the working

women professionals of today.

ColorPlus is one of India's premium and most respected

casual wear brands offering customers a range of shirts,

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trousers, knits and survival gear. ColorPlus constantly innovates processes and technologies

offering buyers new worlds of comfort. Some of the technological innovations it is well

known for; include thermo-fused buttons, golf ball wash, soft jeans, wrinkle free technology,

stain-free fabric, and the cone dyed technique.

Adding new color now to the woman’s wardrobe, ColorPlus recently launched ColorPlus

Woman - An exclusive range of smart-casual clothing.

Parx is a premium casual lifestyle brand, which is

positioned to cater to the needs of consumers who are

looking for dressing up for life across occasions and

events. Parx makes available the latest international trends through differentiated designs and

styles. It has always been part of the consumer who is looking at making lifestyle statements.

The burgeoning children's wear market has now

turned stylish with Zapp! - our range of stylish and

fashionable kidswear. The brand brings to 4-12 years

a wide range of clothes, accessories, bed and bath

linen and more. The first Zapp! store has been

launched in Ahmedabad with ten more on their way for kids across the country.

Notting Hill reflects style and manifests

originality of today's fashion- conscious and

discerning young professionals at an affordable

price. The brand collection features a spectrum of

men's lifestyle products comprising of suits, shirts, trousers, jeans, t-shirts and also

accessories like ties, handkerchiefs and socks.

The Raymond Shop is a premium retail store offering

complete wardrobe solutions for men, which includes top-

of-the-line brands - Raymond, Manzoni, Park Avenue,

ColourPlus and Parx.

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Raymond “the complete man’s brand

Creating the complete man

Raymond's was one of the first companies in the Indian textile industry to use advertising in a

major way to promote its products. The company's advertising efforts began way back in the

1970s, with Raymond being advertised as 'a guide to the well-dressed male.'...This campaign

is the starting point for any other advertising strategy. But is Raymond’s Complete Man, a

man who is the epitome of loving, caring, and also style, in danger of being left behind?

Creating waves

Some saw it as an emasculation of the Great Indian Role Model. Others raised toasts to him.

Finally, they cheered, some ‘real flesh and blood’ they said – emotions, a sense of humor and

sensitivity rather than just brawn. Even a touch of vulnerability. The dream guy with no

shining armour. A man for the liberated Indian woman.

The rival players

Rival brands knew that they had to position themselves away from the Complete Man. Just to

gain an identity – of any sort.

The obvious way to stand apart, as some brands had known all along, was not to have a

fictitious personality, but an actual celebrity. Vimal had a series a cricketers, back in the

1980’s, including Vivian Richards and Ravi Shastri. Digjam had Shekhar Kapur, the film

maker. ‘Tiger’ Pataudi was the Gwalior Suitings man, and Sunil Gavaskar posed for Dinesh

Suitings. But agencies subconsciously started to emulate the persona of the Complete Man.

Pataudi turned discernibly more ‘family-oriented’ in the later days of the Gwalior series, with

his wife Sharmila Tagore and actor son Saif Ali Khan making appearances. Shah Rukh

played ‘Mayur’ Khan for Mayur suitings, an actor with a ‘family man’ image. OCM tried to

go soft too and attempted to show how the suiting gets the OCM man his wife’s attention.

The ad spot had the wife not noticing her husband when he comes home from work, until he

changes into a suit. Suiting companies like Reid & Taylor still go in for celebrity advertising

and today Amitabh Bachhan endorses the brand instead of Pierce Brosnan.

And ofcourse, the man getting the girl is a re-current theme.

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However in the dawn of this millennium suiting advertising has become more product

oriented. Brands today hawk the feel and finish of the fabric. Occasionally we have suitings

which claim to look good but are not as expensive. This is a direct hit at Raymond.

Brand

“A brand is the identity of a specific product, service, or business. A brand can take many

forms, including a name, sign, symbol, color combination or slogan. A legally protected

brand name is called a trademark.”

As such a brand signals to its customers the specific source of product and attempts to protect

both the producer and customer from competitors who ultimately endeavor to provide

products that seems to be identical. A brand is a product, service, or concept that is publicly

distinguished from other products, services, or concepts so that it can be easily communicated

and usually marketed. A brand name is the name of the distinctive product, service, or

concept.

In our project we have taken the brand Raymond. The slogan used by Raymond is The

Complete Man and the color of the brand is red.

Brand Raymond has a distinctive symbol and name created with the intention to identify and

recognize the suitings and shirtings of Raymonds. Another purpose is to differentiate its

goods or services from its competitors. As such a brand signals to its customers the specific

source of product and attempts to protect both the producer and customer from competitors

who ultimately endeavor to provide products that seems to be identical. A brand is a product,

service, or concept that is publicly distinguished from other products, services, or concepts so

that it can be easily communicated and usually marketed. A brand name is the name of the

distinctive product, service, or concept.

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Brand equity

“Brand equity can be defined as an intangible value (e.g. brand name association,

perceptual distortions) attributed to a product by virtue

of its brand name, which cannot be directly attributed

to the physical product.”

Brand equity is the outcome that accrue to a need/want

satisfier when the brand name is added on. It is the

incremental contribution (Money) per year obtained by

the brand in comparison to the underlying product (or

service). The incremental contribution is driven by the

individual customer’s incremental choice probability for

the brand in comparison to his or her choice probability

for the underlying product with no brand-building

efforts.

A useful definition is that “a brand is the sum total of all that is known, thought, felt and

perceived about your company, service or product”.

“ Branding, then, is the process of making products and companies into brands - the

consistent and disciplined way a company communicates a brand's essence to the public.”

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Brand Equity model comprises of the following parameters:

Brand Equity Model uses a unique model to divide brand equity into various components.

This analysis enables marketers to assess the equity associated with their brand name and use

that information in a variety of ways, including developing a communications platform for

the brand and generating line-extension concepts.

Brand Awareness 

Brand awareness is an important way of promoting commodity-related products. This is

because for these products, there are very few factors that differentiate one product from its

competitors. Therefore, the product that maintains the highest brand awareness compared to

its competitors will usually get the most sales.

Brand Recall

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Brand Recall is the extent to which a brand name is recalled as a member of a brand, product

or service class, as distinct from brand recognition. Common market research usage is that

pure brand recall requires "unaided recall". For example a respondent may be asked to recall

the names of any cars he may know, or any whisky brands he may know.

Brand Recognition

Brand Recognition is the extent to which a brand is recognized for stated brand attributes or

communications.In some cases brand recognition is defined as aided recall - and as a subset

of brand recall. In the case, brand recognition is the extent to which a brand name is

recognized when prompted with the actual name.

Brand loyalty

In marketing, consists of a consumer's commitment to repurchase or otherwise continue using

the brand and can be demonstrated by repeated buying of a product or service or other

positive behaviours such as word of mouth advocacy.

Perceived brand quality

Consumer's opinion of a product's (or a brand's) ability to fulfill his or her expectations. It

may have little or nothing to do with the actual excellence of the product, and is based on

the firm's (or brand's) current public image (see corporate image),consumer's experience with

the firm's other products, and the influence of the opinion leaders, consumer's peer group, and

others.

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Brand Equity Pyramid

A standard tool for understanding a brand’s associations to customers’ response. The

strongest brands exhibit both “duality” (emotional and functional associations) and richness

(a variety of brand associations or “equity” at every level, from salience to resonance).

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Analysis of the questionnaire

1. Brand Recalling

(Name any 5 brands that come to your mind when you think of suitings and shirtings?)

Raymond Ried & Taylor Siyarams Others0

10

20

30

40

50

60

Variety

Variety

The respondents were asked to recall any 5 brands for suiting and shirting. Out of 50

respondents 30 recalled Raymond before any other brand. This indicates that Raymond as a

brand is in “Top of the mind” of most of the respondents.

The other brands which were recalled were Reid and Taylor, Siyarams, Vimals, OCM and

Mayur.

2. Brand Recognition

(Identify the following brands from the taglines mentioned below? )

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(a) Bond with the best

(Reid & Taylor)

(b)The complete man

(Raymond)

(c) Coming home to

(Siyarams)

As it can be seen from the charts almost 100% respondents were able to recognize the slogan

of the complete man with Raymond. This shows us the success rate of the Brand Slogan.

3. Brand recognition and Knowledge

(Identify the logo colour of the following different suitings brands?)

(a) Reid & Taylor – Dark green

(b) Siyarams – Black

(c) Raymond – Red

Reid & Taylor

Raymond Siyarams0

102030405060708090

100

Logo Colour

Logo Colour

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Bond with

the b

est

The C

omplete M

an

Coming Home t

o0

20406080

100

Knowledge

Knowledge

4. Brand Loyalty

(How likely are you to continue to choose/repurchase Raymonds suit? )

(a) Not at all likely

(b) Somewhat likely

(c) Fully likely

Fully Likely Somewhat Likely

Not at all Likely

0

10

20

30

40

50

60

70

Comeback

Comeback

70% of the respondents said that they were brand loyal to Raymond and are fully likely to

purchase suiting and shirting material from The Raymond Shop. 28% said that they are

somewhat likely as they would consider other brands as well. Only 2 % of the respondents

were unhappy and said that they were not going to choose Raymond.

These figures indicate that the brand loyalty to Raymond Suiting and Shirting in the Indian

markets is immense.

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5. Brand Differentiation

(Do you think that Raymond is different from other suiting brands? )

(a)Yes (b)No

Yes No0

10

20

30

40

50

60

70

80

Differentiation

Differentiation

6. Perceived Brand Quality

(Which is the one brand you strongly associate with the overall attributes of their

product?)

The quality with which the respondents identified Raymond the most were with

quality and designs. However, other brands of Siyaram, Reid and Taylor and mayor

were preferred in terms of fittings and price points.

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7. Perceived Brand Quality

(What do you think regarding the quality offered by Raymond’s?)

(a) Superior quality (b) Good quality

(c) Acceptable quality (d) quality is not good

Superior Good Acceptable Poor05

101520253035404550

Quality

Quality

As seen in the chart, most of the respondents rated Raymond to be associated with good

quality of fabrics.

8. Customer Satisfaction

( How satisfied are you with Raymond’s suiting?)

(a) Not at all satisfied

(b) Somewhat satisfied

(c) Fully satisfied

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01020304050607080

Customer Satisfaction

Customer Satisfaction

9. Product Attributes

( Rank the following attributes in order of importance to buy a suit? )

(a) Fitting

(b) Design

(c) Quality

(d) Price points

Fitting Design Quality Price Points0

5

10

15

20

25

30

Suiting Aspects

Series 1

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10. Customers sensitivity to price and Brand Loyalty

(If there is increase in the Price of Raymond then would you switch to the other brands?)

(a) yes (b) no (c) may be

Yes No May Be05

101520253035404550

Premium Price

Premium Price

50% of the respondents said that they would not switch to other brands if there are minor

price changes in fabrics of Raymond. These customers are the brand loyal customers of

Raymond.

Inferences drawn from the questionnaire

Raymond is a high esteem and high knowledge brand.

Brand Strength=Differentiation*Relevance

Brand Stature =Esteem *Knowledge

Brand Equity= Brand Strength +Brand Stature

50 respondents were covered under the survey.

40 out of 50 respondents belive that Raymond is different from its competing brand.

Brand Differentiation = 0.8

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All the respondents knew about the logo and the red colour used by Raymonds. Therefore,

the brand knowledge about the product is 100%.

Brand knowledge = 1

40 out of 50 respondents said that the quality provided by Raymond is of superior or good

quality. Therefore, Brand esteem of Raymond is 80%.

Brand Esteem = 0.8

Brand Stature =Esteem *Knowledge

Brand stature= 0.8*1= 0.8

Brand Strength=Differentiation*Relevance

Brand strength= 0.8* 0.8= 1.6

Therefore,

Brand equity= Brand Stature+ Brand Strength

1.6 + 0.8 =2.4

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