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OBJECTIVES

To study the Market Mapping of neckties:

The primary objective is to find out the key requirements of customers and locate

the problem areas.

To find the brand preference of customers in selecting a necktie:

There are many necktie brands available in the market. This study will help me to

know why a customer prefers to buy a particular brand.

Factors influencing decision making of the customer:

There are various factors such as quality, design, cost, brand, age, occasion, time

etc. which influences the decision making of the customer.

To study the competitors strategies and understand current market scenario:

There is a lot of competition in the market hence it is very important to know the

various strategies adopted by the competitors.

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SCOPE

This project will help the company to know the key customer requirements.

Through this study the company will gain knowledge about the positioning and

marketing strategies of competing brands.

The company can understand the market share and the dealers attainment of success

towards Zodiac product in the store.

This project helps the company to know whether a customer wears a tie for discipline,

fashion, compulsion etc.

To know whether a customer prefers only branded ties.

This project helps to know whether a customer prefers quality, design, cost or brand of a

necktie.

Through this study the company can understand whether a dealer is satisfied with my

product and what are his expectations from the distributors of Zodiac.

This study helps to know how frequently customers buy neckties.

This study helps to know the various varieties of fabrics available in the market for

neckties.

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EXECUTIVE SUMMARY

Title:

My project is about an activity called Market Mapping.

Market Mapping is a study of market conditions. It helps to identify what are the customer

requirements. It also helps to locate the problem areas and find solutions for the same. It is a

study of various market conditions to identify trends and corresponding variables between

consumers andproducts.

Market mapping can help companies locate problem areas and figure out the source ofproblems

by examining related variables. A research method that identifies the key customer requirements

in a market and how existing products are positioned in that market. Market mapping is an

important way of identifying gaps in the market.

Objective of the study:

The basic objective of this activity is to study the key customer requirements,

competitors strategies and understand the market scenario because there are

many necktie brands available in the market and what will initiate the customer to

buy is brand is to be determined.

To find the brand preference of customers in selecting a necktie as the customer

has a variety of options to choose upon

Factors influencing decision making of the customer as he or she has to determine

quality, design, cost, brand, age, occasion, time etc before buying the product

To study the competitors strategies and understand current market scenario sa

there is neck throat competition in the market.

Scope:

By this activity the company will understand the customer requirements which will help them to

figure out what should be done to make the customer buy their product.

The company will also understand the problems of the dealers such as whether they are satisfied

with the distributors or not, also gather information about the variety of fabrics available in the

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market for neckties, why customers prefer to wear ties and also the price range within which

customers prefer to buy neckties.

Methodology:

For this particular research purpose I have visited ZRS, LFS and other MBOs in Mumbai a andThane in Maharashtra and gathered the information in the form of Questionnaire.

The research method been used was descriptive in nature. Sampling technique used was simple

ramdom sampling and the sampling units were the customers and dealers.

The total sample size was 55 respondents consisting of 40 customers and 15 dealers. The

secondary source of data collection has been done using Internet, Company Reports and other

Business Books.

Findings:

During this activity I found out that customers give more importance to quality and cost than

brand and design.

Most popular fabrics preferred in the market were Silk, polyester and microfiber and the price

range of these neckties varied from Rs.700- Rs.3000 & above.

Packaging for such ties were done mainly using Plastic sleeve, Cardboard box and Wooden box.

I also noticed that customers prefer to buy ties from the store and not online.

Conclusions:Efforts should be made to sale ties online.

Cotton and Denim ties should be added to our product line so that the customers have more

options to choose from.

Credit and easy payment facilities should be provided to dealers