To study the retailers’ perception towards VIP brand of hosiery in North Gujarat Region

8/2/2019 To study the retailers perception towards VIP brand of hosiery in North Gujarat Region

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MAXWELL INDUSTRIES LIMITED

A

Project Report

On

To study the retailers perception towards VIP brand of hosiery

in North Gujarat Region

Submitted to,

N.R. Institute of Business Management

Ahmedabad .

Submitted by,

Alkesh soni (03097)Bahelim Javed khan (03004)

N.R. Institute of Business Management, Ahmedabad .


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0 PROJECT PROFILE

12

3

4 Project Objective:5

6 To study the retailers perception towards the VIP brand of hosiery (Maxwell industries ltd) inNorth Gujarat Region.

78

9

1011

12

13 Name of the Organization Maxwell Industries Limited

1415 Name of Project Guider Mr. R.C.Joshi

16 Mr. Bhupal Sharma

17 Mr. Mukesh Patel18

19 Problem Statement Retailers Perception

2021 Sample Size 100 Sample

22

23 Survey Method Personal Interview survey Method24

Duration of Project 18th

May to 18th

July.2526


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PREFACE

Experience makes a man perfect this is oldest and most popular proverb, which is experimental by

most of us in our daily life. It is the fact that however easy and lucid theory may be explained, it can not

teach any person fully the matters it purposes to teach without giving him real life experience.

In management institutions students are taught theories adds with care studies and group

discussions. In additions practical training is arranged to give him real life experience of the classroom

teaching. So the project consists, to study the retailer s perception towards different brands of hosiery

in North Gujarat Region. The research study consist of the detail finding of the retailers perception

satisfaction, innovative idea and many important information regarding to MAXWELL INDUSTRIES

LTD. (VIP brand) in North Gujarat Region.

I


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ACKNOWLEDGEMENT

We would like to take this opportunity, to express our most sincere gratitude to Mr.R.C.JOSHI,

REGIONAL MANAGER, MAXWELL INDUSTRIES LIMITED for his assistant and support to

prepare my reports.

We would also like to thanks to Mr. BHUPAL SHRMA, ASE, MAXWELL INDUSTRIES LIMITED

for his assistant and support without which this project would not successfully completed. He provides

me all necessary data regarding Marketing Department.

We are heartily thankful Mr. MUKESH PATEL and Mr. LALIT CHOPRA for them support in

preparing this report.

We would also like to thanks to all faculty members of N.R. INSTITUTE OF BUSINESS

MANAGEMENT, AHMEDABAD.

II


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EXECUTIVE SUMMARY

MAIN OBJECTIVE

To study the retailers perception towards the VIP brand of hosiery (Maxwell industries ltd) in North

Gujarat Region.

SUB OBJECTIVE

To analyses the competitive position of the VIP brand in North Gujarat Region

To study the perception of the retailers to stock of different brands of hosiery vis--vis VIP

brand.

To study the different factors for success of hosiery brands.

To study the retailers satisfaction level in North Gujarat Region

To study the awareness of VIP brand in North Gujarat Region

To study the problem with VIP brand in North Gujarat Region

EXTENT TO STUDY

Try to understand the retailers perception towards the VIP brand of hosiery

Find out competitive position of VIP brand

To know the retailers satisfaction level in North Gujarat Region

To know the awareness of VIP brand in North Gujarat Region


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III

LIMITATION OF STUDY

0 Time constraint.

1 Resources constraint.

2 Bias on part of respondents.

3 Retailers were hesitant in giving responses.

4 Inexperience on part of interviewers.

5 Limited area of study

SIGNIFICANCE AND NEED OF STUDY

Marketing Research is one of branch of Marketing Information System. Market means actual and

potential customers. Marketing research is the systematic and intelligent study of who, what, how,

where, and why of actual and potential buyers. Marketing research is preliminary concerned with

investigation, analysis and measurement of market demand.

RESEARCH METHODOLOGY

I have collected data from retailers of hosiery in North Gujarat Region. In terms of research, method,

the emphasis on direct questioning, quantitative data, their analysis and interpretation involves.


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IV

FINDINGS AND RECOMMENDATION

On completion of our study, we have seen following findings which are mentioned below:

1. Which types of products retailers are selling

2. Awareness of VIP brand.

3. Retailers satisfaction level and retailers perception towards different brands of hosiery vis--

vis VIP brand.

4. Factors for success of the brands in the region.

We have recommendation,

1. Launching of economy products to compete with competitors products.

2. To reduce price undercutting in this area and increasing advertisement in this area.


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V


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27

TABLE OF CONTENTS

Project Profile

Preface I

Acknowledgement II

Executive summary III

1.Introduction of the company 1

2. Range of Products 3

3.Distribution Network 4

4.Awards 5

5.Research Methodology 6

Introduction 6

Objective of Study 6

Area of Study 7

Data Collection 8

a. Sample Size

b.Sample Unit 9c. Sampling Procedure

Communication Method 10

Period of study

Data Analysis

Limitation of Study 11

6.Analysis and Interpretation 12

Interpretation of Retailers Response 12Findings 27

Suggestions 28

7.Conclusion 29

Bibliography 30


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INTRODUCTION OF THE COMPANY

The innerwear Industry has come a long-way, thanks to Maxwell Industries Limited

(A VIP Group of Company).

VIP has created brands that have made marketing history.

Whats more they managed it in a category, which was dominated by the unorganized sector which

branded unbranded products. Today VIP brands are a force to reckon with.

Maxwell Industries Limited is one of the worlds largest innerwear manufacturer and marketers

commanding an impressive annual growth rate. It has to its credit six regional offices, three production

bases, state of the art technology right from developing cotton to making garments.

All this plus an extensive distribution set up spanning the length, breadth of the country.

The company through its dedicated research team constantly keeps in with current trends in the market

place & the consumers. This approach has let to various technological innovations resulting in new

product introduction/extensions.VIP has been positioned as a value for money, premium quality brand

having an aspiration value.

The consumer is always treated as a VERY IMPORTANT PERSON and is the center of focus. The

company has and will always give the consumer the very best and make

VIP, the flagship brand of Maxwell Industries Ltd. has been selected, based on a national

1

survey conducted by ORG MARG a renowned market research agency and IMAGES - a


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well known fashion magazine, as "The Most Admired No.1 Undergarment Brand" for two successive

years 2000 & 2001 respectively. MIL thanks all its valuable customers, distributors & retailers. The VIP

group also manufactures & markets the following well-known brands

Lingerie category: LOVABLE- The fashion that touches the heart.

It has a wide range of top quality premium end bras.

DAISY DEE BRA - A comfort Bra.

A value for money brand catering to the quality & price conscious

consumer

Premium Innerwear

category:

RIVOLTA - Undress code for men. A premium end brand that portrays an

international image.

Garment category: LIVE-IN-JEANS - Keep them on, and on, and on LIVE-IN (Khakis,

chinos, cargoes.) Trousers - Meet your lighter side.

Footwear category: VIP EXCEL SOCKS - For feet addicted to comfort. It has a wide range of

socks made from cotton, Lycra etc to match every consumer's need.

2
http://www.vipapparel.com/awards.htmhttp://www.vipapparel.com/awards.htm


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4


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2000 2001

5


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INTRODUCTION

The report is based on the data collected in summer 2004 to study the retailers perception

towards VIP brand (Maxwell industries ltd) of hosiery in North Gujarat region and its secondary

purpose is to identify competitive position of VIP brand in North Gujarat region as well as the scope for

the improvement in this territory.

OBJECTIVE OF STUDY

To study the retailers perception towards the VIP brand of hosiery (Maxwell industries ltd) in North

Gujarat Region.

To analyses the competitive position of the VIP brand in North Gujarat Region

To study the perception of the retailers to stock of different brands of hosiery vis--vis VIP brand.

To study the different factors for success of hosiery brands.

0 6


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AREA OF STUDY

The project report entitled, to study the retailers' perception towards VIP brand of hosiery in North

Gujarat Region for our study we have classified North Gujarat Region in following format

NORTH GUJARAT

7

District Cities Samples

MAHESANA 1.Mahesana 15

2.Visnagar 10

PATAN 1.Patan 15

2.Unjha 10

SABARKANTHA 1.Hima1tnagar 15

2.Idar 10

BANASKANTHA 1.Palanpur 15

2.Disha 10


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DATA COLLECTION

For the purpose of study of marketing research for the Maxwell industries in North Gujarat Region. In

this part we will review sample size, sampling procedure, and communication method etc.

28 SAMPLE SIZE

The sample size used comprise of 100 samples unit that would be segregated as follows.

District Cities Samples

MAHESANA 1.Mahesana 15

2.Visnagar 10

PATAN 1.Patan 15

2.Unjha 10

SABARKANTHA 1.Hima1tnagar 15

2.Idar 10BANASKANTHA 1.Palanpur 15

2.Disha 10

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29 SAMPLING UNIT

In our study, sampling unit was the retailers' in following cities,

0 Mahesana

1 Visnagar

2 Patan

3 Unjha

4 Idar

5 Himmatnagar

6 Palanpur

7 Disa.

We had asked different questions related to facts, attitudes and opinions towards VIP brand of hosiery.

30 SAMPLING PROCEDURE

To know about the facts, attitude and opinion towards VIP brand of hosiery, we have used stratified

random sampling method.

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COMMUNICATION METHOD

Method of obtaining specific data from the specified source has two general types

0 Observation method.

1 Communication method.

Communication method means obtaining information through questions. This media of communication

method are of three types.

0 Personal survey

1 Telephone survey

2 Mail survey

As sample was of 100 and we wanted to know much insight about the perception and attitudes of

retailers' in North Gujarat region. So we selected personal interviewing as method of survey.

PERIOD OF STUDY

This research with analyses, conclusion and recommendation will take 8 weeks in summer i.e. 18 th May

to 18

th

July.

DATA ANALYSES

The primary analyses will be done through the use of the computerized statistical tools like;

0 Percentage analyses

1 Pie charts

2 Bar chart

3 10


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LIMITATION OF STUDY

6 Time constraint.

7 Resources constraint.

8 Bias on part of respondents.

9 Retailers were hesitant in giving responses.

10 Inexperience on part of interviewers.

11 Limited area of study.

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DATA ANALYSES AND INTERPRETATION

TABLE-1 AVAILABILITY (NORTH GUJARAT REGION)

PARTICULARS YES NO %AVAILABILITY

VIP 61 39 61%

RANJIT 84 16 84%

VICTORIA 61 39 61%

RUPA 48 52 48%LUX 83 17 83%

JOCKEY 23 77 23%

0

10

20

30

40

50

60

70

80

90

AVAILABLITY

VIP

RANJIT

VICTORIA

RUPA

LUX

JOCKEY

Above table shows the availability of different brands in North Gujarat Region.

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From the above table we can say that the availability of the RANJIT and LUX is very high and they

hold the strong position in North Gujarat area.

VIP has 61% availability that shows that they dont have the as strong position as RANJIT and LUX

have.

Availability of the VIP brand in different districts is as follows

District % of availabilityMahesana 88%

Patan 28%

Sabar Kantha 68%

Banas Kantha 64%

From the different district wise analysis we can say that VIP is strongest in Mahesana district and

company need to try hard in other districts of North Gujarat Region especially in Patan district where

they have only 28% availability.

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TABLE 2 FACTORS WHICH RETALERS CONSIDER IN STOCKING PRODUCT

PARTICULARS MAHESANA PATAN S.K B.K TOTAL

QUALITY 24 25 25 25 99

PRICE 22 23 25 25 95

MARGIN 8 11 21 25 65

CUSTOMER

DEMAND

13 19 22 21 75

AVAILABILITY 3 6 9 8 26

SALES

PROMOTION

2 4 12 10 28

0

20

40

60

80

100

FACTORS

QUALITY

PRICE

MARGIN

CUSTOMER DEMAND

AVAILABILITY

SALES PROMOTION

From the above table we can see that about 99% of the retailers considers quality as one of the most

important factor for stocking the product of different brands.

About 95% of the retailers take price as one of the most important factor for stocking the product of

different brands.

14

About 75% of the retailers consider the customer demand as one of the most important factor for

stocking the product of different brands.


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Retailers do not emphasis more on factors like sales promotion in national media, availability etc.

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TABLE 3 ON THE BASIS OF QUALITY

PARTICULAR GOOD AVERAGE POOR

VIP 74 13 4

RANJIT 72 27 -

VICTORIA 58 37 3

RUPA 31 37 -

LUX 78 18 -

JOCKEY 76 6 -

0

10

20

30

40

50

60

70

80

GOOD AVERAGE POOR

VIP

RANJIT

VICTORIA

RUPA

LUX

JOCKEY

The above table shows that ,74% of the retailers believes that the VIP have good quality, but still 4% of

the retailers believes that VIP do not give high quality product. And retailers also regard RANJIT,LUX

and JOCKEY as high quality products.

RUPA and VICTORIA are not considered as a good quality product and their image is not so good as

VIP, LUX and RANJIT and they are suffering from this fact .

Still some retailers are not satisfied with the quality VIP is providing in comparison with the jockey

product.

16

TABLE4 ON THE BASIS OF PRICE


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PARTICULARS VERY HIGH HIGH AVERAGE LOW

VIP 12 37 33 -

RANJIT - 9 80 2

VICTORIA - 8 79 2RUPA 1 48 34 -

LUX 1 49 41 -

JOCKEY 43 20 1 -

From the table we can see that as per retailers belief the price of product of VIP is higher almost 49%

of the retailers take VIP products as a higher priced one.

RUPA, LUX and JOCKEY are also considered as higher priced products as we can see from the table

that all the three companies have rating as higher priced product more then 50% which is very high.

On the other hand, RANJIT and VICTORIA are the most economical brands as compared to other

companies, they have average rating of about 80% which is very good and that is why the RANJIT and

VICTORIA are the first choice of the price sensitive customers

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TABLE 5 ON BASIS OF MARGIN

Particulars VERY HIGH HIGH AVERAGE LOW

VIP 1 4 35 52RANJIT - 4 36 48

VICTORIA - - 33 50

RUPA - - 30 53

LUX 2 4 29 50

JOCKEY 3 - 16 20

ON BASIS OF MARGIN

1

4

35

52

4

36

48

33

50

30

53

24

29

50

3

16

20

0

10

20

30

40

50

60

VERY HIGH HIGH AVERAGE LOW

PERCENTAGE

VIP

RANJIT

VICTORIA

RUPA

LUX

JOCKEY

From the above table it is clear that all brands are giving same-low margin. And from this we can say

that retailers are not satisfied with margin.

As for as VIP brand is concerned, they are giving high margin but due to the problem of price

under cutting and customer demand of low price product so retailers are not able to get higher

marginFrom the survey we have come to know that almost all companies are giving margin between 10

to 15%

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TABLE 6 ON BASIS OF RETAILERS SCHEME


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PARTICULARS HIGH AVERAGE LOW

VIP 2 62 33

RANJIT 51 29 15

VICTORIA 4 60 14RUPA 6 53 25

LUX 18 62 10

JOCKEY - 10 35

RETAILERS SCHEME

2

62

33

51

29

15

4

60

14

6

53

25

18

62

1010

35

0

10

20

30

40

50

60

70

HIGH AVERAGE LOW

PERCENTAGE

VIP

RANJIT

VICTORIA

RUPA

LUX

JOCKEY

19

From the above analysis we can say that RANJIT is the only company, which is giving higher

retailers scheme. Due to higher scheme retailer are being attracted towards RANJIT brand and they are

pushing RANJIT brand in the market. which clear that it encourage sales of RANJIT brand.

On the other hand brands like LUX, RUPA, VICTORIA and JOCKEY are not giving frequent

scheme.

For VIP we have found that they are giving scheme but not as much as RANJIT and also

problem with VIP, They are changing very frequently and from that many times retailers have to suffer.


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TABLE 7 ON BASIS OF ADVERTISEMENT

PARTICULARS EX.HIGH HIGH AVERAGE LOW

VIP 6 18 47 21

RANJIT 14 53 21 3

VICTORIA 7 31 19 2

RUPA 5 18 54 6

LUX 23 46 27 -

JOCKEY - 2 5 55

ADVETISEMENT

6

18

47

21

14

53

21

37

31

19

25

18

54

6

23

46

27

25

55

0

10

20

30

40

50

60

EX.HIGH HIGH AVERAGE LOW

PERCENTAGE

VIP

RANJIT

VICTORIA

RUPA

LUX

JOCKEY

From the above table we can say that LUX and RANJIT are spending well an advertisement and which

has seen that 69% and 67% of retailers fills that advertisement of LUX and RANJIT respectively is

high. On the other-hand retailers feel that the VIP is spending on only TV advertisement. So we are

suggesting that VIP should advertising locally by way of Wall Painting, Banner, Hoardings, Bill Boards

and Display Etc.

21

From the various table, it has seen that almost all companys brand have same quality, margin,

product line etc. Only the difference lies in advertisement, the company, which has high advertisement

getting much more on demand than other company.


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So we are suggesting increasing advertisement in North Gujarat Region. Which stimulate

demand of VIP brand product.

22


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AVAILABILITY

From the survey, we have found that every brand has good availability of product and retailers get

product whenever they want. We have seen that LUX and RANJIT have good market strategy and sales

persons are visiting retailers very regularly and convincing retailers to push their brand in market.

As far as VIP brand is concerned retailers are not stock each and every product of VIP brand

and sales person are not visiting very regularly and some cases not visiting at all. so awareness in

retailers about the VIP brand is not as much as it should be, being the leader brand in the hosiery.

23


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TABLE 8 ON BASIS OF PRODUCT LINE

Particulars WIDE AVERAGE LOW

VIP 60 28 -

RANJIT 60 25 4

VICTORIA 38 27 3

RUPA 26 40 4

LUX 76 13 -

JOCKEY 15 4 -

PRODUCT LINE

60

28

60

25

4

38

27

3

26

40

4

76

1315

4

0

10

20

30

40

50

60

70

80

WIDE AVERAGE LOW

PERCENTAGE

VIP

RANJIT

VICTORIA

RUPA

LUX

JOCKEY

From the analysis, we are found that the entire brand has wide product line however LUX and RANJIT

are introducing new product frequently. Although VIP have very wide product line but dealers are not

providing every product in retailers and so VIP is not getting much sales as it should get. New addition

to product line is not taking place and that is also back stepping sales.

24

TABLE 9 SATISFACTION LEVEL

PARTICULARS EX.SATISFIED SATISFIED DISSATISFIED EX.DISSATISFIEDVIP 4 64 10 1


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RANJIT 14 71 4 -

VICTORIA 4 44 15 2

RUPA 3 47 20 -

LUX 15 72 5 -

JOCKEY 1 8 25 1

VIP

4

64

10

1

21

EX.SATISFIE

SATISFIED

DISSATISFIE

EX.DISSATIS

ED

DON'T SAY

RANJIT

14

71

4

11

LUX

15

72

5

8EX.SATISFIED

SATISFIED

DISSATISFIED

EX.DISSATISFIE

D

DON'T SAY

From the above graph we have found that 85% of retailers are satisfied with LUX and RANJIT brand. It

is due to that overall performance of both brand like quality, price, advertisement, product line and

proper marketing. Although VIP is best in quality and durability however 68% of retailer are satisfied

with VIP brand due to performance of VIP brand an areas like marketing

25

Advertisement, price and new product introduction is not up to mark. so they are legging behind LUX

and RANJIT brand in retailers satisfaction level.


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From the study, we also have found that social and cultural factor like customs, dressing habits,

psychology and behavior do affect sales of different brand in North Gujarat Region.

26


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FINDINGS

About 61% retailers are selling VIP brand while 84%and 83% retailers are selling RANJIT and

LUX brands respectively. Availability is very much low in the Patan district i.e. 28%.

About 99% retailers consider quality is one of the most important factor in stocking of any

brand of hosiery while 95% retailers feels price also a important factor.

About 74% retailers feel that the quality of VIP brand is good while RANJIT, LUX and

JOCKEY brands are also with good quality.

About 49% retailers believe that the price of VIP brand is high, while 63% of retailers believe

that the price of Jockey brand. 80% retailers believe that the price of RANJIT and VICTORIA

brands are average.

Retailers feel that all company less or more giving same margin in between 10% to 15%.

About 62% retailers feel that retailers scheme of VIP and LUX brands are average while 51%

retailers say that retailers scheme of RANJIT is high.

About 47% retailers feel that advertisement of VIP brand is average while 67% and 69%

retailers feel that advertisement of RANJIT and LUX are high.

About 60% retailers feel that the product line of VIP and RANJIT are wide and 76% retailers

say that the product line of LUX is wide.

About 68% retailers are satisfied with VIP brand, while 85% and 87% retailers are satisfied with

brand RANJIT and LUX respectively

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CONCLUSION

After research, we conclude that the retailers surveyed were quite sure that the quality of VIP brand is

extremely good and also satisfied with this brand however the other brand also have good quality with

average price, so if VIP launch a economic product with same quality then they can able to capture

higher market share and compete with competitors brands.

Finally company should increase the advertisement in local area through the wall painting, hoarding,

billboard etc. and also make sure that proper marketing in terms of salesman, which increase the

awareness of product as well as sale and also help in compete with other brands.

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BIBLIOGRAPHY

31 Cooper, Donald R., Schindler, Pamela S., Business Research Method, New Delhi; Tata Mc

Grow-Hill Publishing Company Limited, 2004-843pp.

32 Beri, G.C., Marketing Research, New Delhi; Tata Mc Grow-Hill Publishing Company Limited,

2000-474pp.

33 Luck, David J., Rubin, Ronald S., Marketing Research, New Delhi; Prentice-Hall of India

Private Limited, 2001-743pp.

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To study the retailers’ perception towards VIP brand of hosiery in North Gujarat Region

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Transcript of To study the retailers’ perception towards VIP brand of hosiery in North Gujarat Region