“PROJECT REPORT ON INTERNATIONAL MARKETING OF GODREJ INTERIO”

A REPORT SUBMITTED IN PARTIAL FULFILLMENT FOR THE REQUIREMENT OF THE AWARDS OF THE DEGREE of

BACHELOR IN BUSINESS MANAGEMENT.

UNDER THE GUIDENCE OF: COMPILED BY:

Mrs. Trishna

Lecturer BBM

DEPARTMENT OF BUSINESS MANAGEMENT

JANKI DEVI WOMENS COLLEGE

MAGADH UNIVERSITY

JANKI DEVI WOMENS COLLEGE

MAGADH UNIVERSITY

Supervisor’s Certificate

Date: 18-06-2014

To Whom It May Concern

This is to certify that Ms. …………………………….. of BBM-III (2012-2015) has completed the project work entitled INTERNATIONAL MARKETING OF GODREJ INTERIO under my guidance and supervision. The project submitted by her is the unique outcome of her own effort. During the course of the project, she has acquired a lot of practical knowledge as well.

Project Supervisor

Mrs. Trishna

ACKNOWLEDGEMENT

I would like to take this opportunity to express my sincere thanks and gratitude to all those people without whose active support and encouragement, this project would not had been a success.

I express my sincere thanks to our principal for allowing me to be a part of this prestigious institution and this study over Patna.

I am grateful to the organization executive for making it possible for me to go under practical training.

My special thanks to Mrs.Trishna for their valuable guidance and support throughout the survey. I am indebted to our lecturers who gave their valuable time in going through the entire man spirit and made valuable comments in completing this project work.

Last but not least I would like to thank all other people for their co-operation, valuable support and suggestion.

Patna,

CONTENTS

CHAPTERS

Chapter 1- Profile of the study

Objective of the study Research methodology Limitation of the study

Chapter 2- Core theme of the project

About godrej interio

Chapter 3- Identification of the target market

Analyzing the market Our customer Our competitors

Chapter 4- 4 P’s

PRODUCT- Variant

- Variety- Quality- Packaging

PRICING

PHYSICAL DISTRIBUTION- Distribution strategy

PROMOTION- Budgeting

CONCLUSION BIBLIOGRAPHY

CHAPTER-1

PROFILE OF THE STUDY:

OBJECTIVES OF THE STUDY

RESEARCH METHODOLOGY

LIMITATIONS OF THE STUDY

OBJECTIVES OF THE STUDY

The main objectives of the study are as following:

To study the trend of furniture sale in Nepal market. To study the environment of the target market. To study the 4P’s – Godrej interio.

RESEARCH METHODOLOGY

The study was conducted on the basis of secondary data only.

The secondary data was collected from the organizational office, websites, periodicals, books etc.

LIMITATION OF THE STUDY

The project has its own limitations. Some of them are as following:

Due to paucity of time, the universe of the study was limited to Nepal market only.

Only limited data was made available to us by the organization.

CHAPTER -2

CORE THEME OF THE PROJECT

ABOUT GODREJ INTERIO

ABOUT GODREJ INTERIO

Godrej Interio is India’s largest furniture brand. From manufacturing the humble Strowel cupboard 80 years back to being a vibrant, innovative brand with a diverse portfolio- it’s been a brilliant, exciting journey for us. We love bringing alive your dream space. We emphasize comfort and aesthetics while deserving while delivering well designed, fun and functional furniture solutions to you. True to the Godrej mission to converse the environment, we design products, set up processes and use raw materials that are eco-friendly to do our bit to preserve natural resources. We offer our customers home and office furniture, along with solutions for laboratories, hospitals and healthcare establishment, education and training institutes, shipyards and navy, auditorium and stadiums. We are present across India through our 50 exclusive showrooms in 18 cities and through 800 dealer outlets. Godrej Interio is a business unit of Godrej & Boyce.

CHAPTER-3

IDENTIFICATION OF THE TARGET MARKET

ANALYSING THE MARKET

OUR CUSTOMER

OUR COMPETITORS

ANALYSING THE TARGET MARKET

A market analysis studies the attractiveness and the dynamics of the target market. It is a part of the industry analysis and thus in turn of global environment analysis.

Nepal is our target market. Our market is broadly divided into two major sections household and institutions. The demand of furniture is largely determined by:

Market population- The more the number of market population, the higher the demands for our furniture and vice versa.

Income level- As the level of income increases, the demand for furniture increases and vice versa.

Industrialization level- The greater the industrialization in target market the higher will be the institutional demand of furniture sets.

TARGET MARKET

OPPURTUNITY:

HOUSEHOLDS INSTITUTIONS

1. Increasing purchasing power of people thereby increasing demands.

THREATS:

1. Intense and increasing competition amongst Chinese furniture companies.

OUR CONSUMERS

MEANING OF CONSUMER – An individual who buys products or services for personal use and not for manufacture or resale.

MARKET SELECTION

Important steps in market selection

ACCORDING TO TARGET MARKET (NEPAL) –

DETERMINING INTERNATIONAL MARKETING OBJECTIVES

DETERMINING PARAMETERS FOR MARKET SELECTION

PRELIMINARY SCREENING

DETAILED INVESTIGATION AND SHORT LISTING

EVALUATION AND SELECTION

Target market our consumers are the INDIVIDUALS or the END-USERS, which buy products for comfort, enhancing their lifestyle etc.

Nepal is our target market. There is low industrialization in Nepal, and therefore the institutional segment of the market is small. Household buyers form the majority of the furniture users.

SEGMENTATION OF MARKET :

The furniture market can be segmented on the following basis:

a. On the basis of use: -Household – most of the furniture buyers are from household segment. They buy furniture for their comfort, interior, enhancing their standard of living.-Institutions- the other segment of furniture buyers are institutions. They buy furniture for improving the standards of their infrastructure, safety and security etc.

b. On the basis of income:-Higher income group- Most prospective buyers. They buy furniture for prospect of their luxury, comfort and interiors.-Middle income group- Substantially prospective buyers. They give major prospects towards comforts and interiors.-Lower income group- Least prospective buyers. They basically opt for durability and comfort.

OUR COMPETITORS

MEANING OF COMPETITORS – The person or entity, who are rival to each other in a particular market, are called competitors. In business, competitors are companies offering similar products or services in the same market.

High competition has following effects:

Higher the competition, lower the prices. Competition induces cost cutting. Competition improves quality.

MAJOR COMPETETIORS OF GODREJ INTERIO IN NEPAL:

- Furniture Land Store- Home Maker Pvt. Ltd.- Eldon Furniture Industries

4 P’s of Marketing:

PRODUCT- A product is anything that can be offered to a market for satisfying human wants or needs.

Multi-layered product concept:

Core- Basic benefits that the product offers.

Basic- The physical features of the product.

Expected- People’s expectation towards product, quality.

Augmented- Additional benefits that product offers.

Product Type: Furniture

CORE

Product Class: Durable goods

Variant-Bedroom, Living room, Study room, Dining room, Kids room, Modular kitchen, Mattress, Bamboo furniture, Bating room, Office furniture.

Quality- Luster in nature, Rust free, Anti-mite, Durable, Anti-fungal etc.

Packaging- Dismantle packaging and easy assembling.

PRICING- Pricing is the process of determining what a company will receive in exchange for its products or services.

FACTORS INFLUENCING PRICING OF A PRODUCT IN INTERNAATIONAL MARKET:

COST- This includes manufacturing + marketing cost (transportation, carriage, insurance, taxes etc).

COMPETITION- Level and intensity of international competition differ as compared to the domestic market.

If firm goes for under pricing that is to gain market share.

DEMAND FOR THE PRODUCT ECONOMIC CONDITION OF THE IMPORTING

COUNRTY GOVERNMENT FACTORS- Government policies,

taxation policies, government subsidies, margin regulations etc.

DISTRIBUTION- The movement of goods and services from the source through a distribution channel right upto the final customer and the movement of payment in the opposite directions right upto the original producer or supplier.

FACTORS AFFECTING DISTRIBUTION CHANNEL DECISION: According to target market (Nepal), indirect channel of distributional is the appropriate method for distribution.

Indirect channel- In this type of channel manufacturer uses the services of local agent and merchants for selling of its products.

DISTRIBUTOR:

A distributor may be located in the foreign country and they buy and hold large stock of product in return foreign exclusive right to sale the product in the region.

EXPORT DISTRIBUTION CHANNEL:

INDIRECT CHANNEL

Export Broker Export Management Company Export Merchant

PROMOTION- It 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.

INTERNATIONAL PROMOTION:

It aims of persuading the potential buyers to be more favorably disposed promotion strategies basics aim are as follows:

Communicating the companies offering to the potential buyers (AWARENESS).

Informing, reminding, persuasion & motivation the consumers to buy the product.

Promoting the image of the company’s product into international country.

Creating awareness about the product to the indirect exporters.

MAJORS DECISION IN INTERNATIONAL PROMOTION

Identification Target audience (dealers, End users). Determining the communication objectives. Determining the message and the budget decision

(Product Image, Goodwill, Quality, Performance, etc). Promotion Mix Decision (Advertisement, Personnel

Selling, Outdoor, Online, Direct Marketing).

BUDGETING- It is a process of preparing a detailed statement of financial results that are expected for a given time period in future.

CONCLUSION OF THE STUDY

About the Nepal economy. About choices and preference of consumers. Product specification, modification strategies. Pricing strategies. Distribution channel. Promotional strategies.

BIBLIOGRAPHY

1) INTERNATIONAL MARKETING – 13th Edition

-Francis cherunillam

2) MARKETING RESEARCH

3) GOOGLE.com