LOVELY PROFESSIONAL UNIVERSITY DEPARTMENT OF MANAGEMENT Report on Summer Training TITLE: “Positioning of Monte Carlo Denim Vis-à-Vis Other Competitive Brands”
SUBMITTED TO LOVELY PROFESSIONALUNIVERSITY
In partial fulfillment of the Requirement for the award of Degree of “MASTER OF BUSINESS ADMINISTRATION” SUBMITTED BY: Kuldeep Kumar Tiwari Section – Q2R02 DEPARTMENT OF MANAGEMENT LOVELY PROFESSIONAL UNIVERSITY JALANDHAR NEW DELHI GT ROAD PHAGWARA
PUNJAB 1|Page
CERTIFICATE
This is to certify that Kuldeep Kumar Tiwari has completed his project report on the topic “POSITIONING OF MONTE CARLO DENIM VIS- A- VIS OTHER COMPETITIVE BRANDS ” in OSWAL WOOLLEN MILLS LTD LUDHIANA under my supervision to the best of my knowledge. This is his original work this wholly or partially has not been submitted for any university.
Kuldeep Kumar Tiwari Section - Q2R02 MBA 3rd Sem LOVELY PROFESSIONAL UNIVERSITY
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Project Guide Sig
STUDENT DECLARATION
I here by declare that this piece of project report entitled ― POSITIONING OF MONTE CARLO DENIM VIS- A- VIS OTHER COMPETITIVE BRANDS‖ for partial fulfillment of the Requirements the award of the degree of ― MBA ‖ is a record of original work done by me under the supervision and guidance of Mr. Rajeev Gupta, Lovely Professional University. This Project work is my own and has neither been submitted nor published anywhere.
PLACE : Phagwara
SIGNATURE OF STUDENT
DATE:
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ACKNOWLEDGEMENT I take this opportunity to express our acknowledgement a deep sense of gratitude for rendering valuable assistance and guidance to me by the following personalities for successful completion of our research project . We are highly indebted to Mr. Rajeev Gupta (Sr. Lecturer), department of management: Lovely professional university Phagwara (PUNJAB) for assigning me interesting task. I have been fortunate enough to have him as a wonderful guide and for her personal encouragement, prompt assistance, constructive criticism, valuable interest, guidance and supervision in completing my project report successfully. . The experience was novel one and I would like to thank all the people who have lent their valuable time for the recording of the data and completion of the report. Without their consideration it would have been difficult to complete the study.
I take this platform to convey my gratitude to the officials of Monte Carlo Fashions Ltd. for their prompt response and guidance. I would like to express my gratitude to Mr. Swapan Dutta (President of Marketing & Retail) and Mr. Gaurav Bashamboo (Area Sales Manager) for his constant support and encouragement. Without his outright support and prompt response, it would not be possible to do any justice as well as bring authenticity to the project.
Kuldeep Tiwari
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PREFACE Research studies constitute the backbone of any management education programme. A management
student has to quite frequently do the research work during his entire span. The idea of the study has been conceived as a summer training project work to be undertaken in
second semester of
the two year full time MBA course and is devoted to “POSITIONING OF MONTE CARLO DENIM VIS- A- VIS OTHER COMPETITIVE BRANDS”
The research has been undertaken to study the changing perception of customers and dealers regarding various brands and also the various factors to which the customer gives importance and their perception about different competing brands regarding those factors are studied.
The research is statistical in design and extensive analysis brought to light several Facts. The customers were also asked to rate a few relevant parameters and companies were ranked on their basis, the data also revealed the satisfaction level of customers. In order to analyze the data and draw conclusions, statistical techniques are used and shown by pie and bar diagrams.
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Table of Content
Sr .no
Content
1
Introduction to Garment industry 1.1 Industry overview of Denim Market
Page No
7-15
1.2 List of Denim mill with location 1.3 Top players of Denim Market 2
Introduction about the company 2.1 Nahar Industry
16-25
2.2 Monte Carlo Industry 3
Review of literature
4
Need , Scope & Objective Of the Study 4.1 Need of the Study
26 - 28
29 - 30
4.2 Scope of the study 4.3 Objective of the study 5
Research Methodology
31-32
5.1 Research Design, Sampling Design, Sample Frame 5.2 Sample size, Sample unit, Sampling Techniques 6
Data Analysis And Interpretation
7
Finding, Recommendation, Limitation and Conclusion
33 - 41
7.1 Finding 7.2 Recommendation
42 - 45
7.3 Limitation 7.4 Conclusion 8
References
46
9
Annexure
47- 48
9.1 Questionnaire
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1.1 Introduction to Garment Industry Indian is rich in resources like cotton and other raw clothing materials. Hence there is a huge export market that lies in the country. Its only when you get your hands on the export surplus that you will find excellent quality. Clothing from India includes baby suits to tops, skirts, shirts, trousers; everything gets exported in the best of material available. No doubt it has earned its name abroad and exports have always added to the country‘s GDP.
The excess from the export is then circulated in the country. In the new millennium a huge foreign investment hand in clothing is visible, especially in the metropolitan cities. So the clothing in India available ranges from Rs. 100 that you get from the roadside markets, around Rs. 300 in local shops and then anything above Rs. 500 to Rs. 2000 in branded shops. So it all depends on your taste for clothes and how much you want to shell out. Clothes are a woman‘s prerogative as the options for her outlast the options available for men. However Indian clothing for women differs in different regions. After all clothing is indirectly related to customs, cultures and traditions. So every few kilometres that you cover in India you will have a difference in cultures and clothing. Down south, women mostly wear saris, younger girls wear sharara types skirts with matching tops with typical south Indian borders.
The overall Indian apparel market size contributes to Rs.2081 billion in which kids apparel contributed to Rs. 268 billion(organized & unorganized) in the previous year. The global children apparel market grew by 2.4% in 2010-11 to reach a value of $161.5 billion. The overall kid‘s apparel market in India is likely to reach Rs. 800 billion by 2015. Market for kid‘s apparel is the fastest growing industry in India. Manufacturers are coming up with fancy materials targeting kids who are more interested in the upcoming fashion trends.
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Industry Overview of Denims Market Indian denim market is among the fastest growing market with a projected growth rate of 8-12%. Fashion is driving the sales of this apparel like never before. Fashion mania that is fascinating the jeans market is ubiquitous, cutting across the price segments and brands. Increasing number of middle-income families in India has given a chance for denim apparels to capture a good market. Satellite Televisions have also played their part in creating a fascination for these apparels associated with the Western culture. Brands like Hugo Boss, Tommy Hilfiger, and Rathore jeans make the premium segment with a price tag of more than Rs.2, 000. Pepe, Wrangler, and Lee make the premium segment with products ranging from Rs.1, 000-2,000. Numerous brands exist in the Indian market with a price range of Rs.500 -1,000. Other in store jeans is also available at prices ranging from Rs.400. Fashion gurus believe that fashion wave for denim apparels is driven by innovations in washes, and fabrics. Manufacturers are coming up with novel ideas to capture the minds of consumers especially the younger segment. Crosshatched, broken twill, stretch, and multi-count are a few popular patterns. Jeans are available at all price ranges to suit the budget of every single customer. Even for the people who prefer tailored garments over ready madeones, ready to stitch jeans are available with a pant fabric, leather label, pouch of rivets, and an instruction booklet regarding the stitching process. Manufacturers do not want to lose a single opportunity of marketing their products. Concept stores are planned by brands conveying an uppity attitude, celebrating snobbery right from its signage to store interiors, furniture, plasma televisions, and other features to captivate the shoppers. These stores provide the consumers with a complete brand experience and communicate the imagery lifestyle and value of the brand. Levi Strauss has chalked out plans for adding 800 stores all across India by 2011. Wrangler brand has diverted from its menswear segment to introduce the new Wrangler girl. Arvind is the third largest denim manufacturer in the world, exporting more than 150 varieties to 66 countries all across the globe. Big brands such as Lee, JC Penny, Wrangler, Marks & Spencer, Gap, and Lee Cooper use their denim fabrics. Today jeans have become an exemplary outfit in every wardrobe. Every one will have at least one pair of jeans in their closet. Popularity of denim has a ripple effect with other items complementing their usage. Denim industry in India is moving towards a positive phase, with the popularity of variety of denim apparels growing at a phenomenal rate.
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India started off a little late in indigenous production of denim cloth, and we do not have a very long history of denim production in India.
However, in the recent years, denim production capacity in India has grown very fast, the number of denim mills has increased, and many denim mills have expanded their production capacity as well. As of now, we have more than 20 denim mills or manufacturers in India, with an installed capacity of more than 600 million metres of denim fabric, per annum.
Denim Club India was the first one to compile a complete list of the denim mills [denim cloth manufacturers], along with the details of the installed capacity for denim production, location, and range of denim fabrics being offered by them.
The production of denim was started in India by Arvind, with their denim mill located in Ahmedabad in Gujarat. There are several other denim mills in Ahmedabad, like AarVee Denim Mill, Ashima Denim Mill, Blue Blends Denim, Jindal Denim, Modern Denim, Nanadan Denim, and Soma Denim. KG's denim mills came up in Coimbatore. A few denim mills are located in northern India, like Sangam Denim in Bhilwara, Nahar Denim and Rainbow Denim in Mohali, Punjab, and Sri Laxmi Denim in Uttar Pradesh. Check out the complete list of denim mills in India in the section below.
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1.2 List of Denim Mills In India with Location Denim Mill
Location
AarVee Denims and Exports Limited
Ahmedabad, Gujarat
Arvind Mills
Ahmedabad, Gujarat
Ashima Group
Ahmedabad, Gujarat
Bhaskar Industries Ltd.
Madhya Pradesh
Blue Blends (India) Ltd.
Ahmedabad, Gujarat
Century Denims
Madhya Pradesh
Ginni International Ltd.
Neemrana, Rajasthan
Jindal Worldwide Limited
Ahmedabad, Gujarat
K G Denim
Coimbatore, Tamil Nadu
K G Fabriks
Coimbatore, Tamil Nadu
LNJ Denim
Banswara, Rajasthan
Mafatlal Denim Limited
Navsari, Gujarat
Malwa Group
Ludhiana, Punjab
Modern Denim
Ahmedabad, Gujarat
Nahar
Mohali, Punjab
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1.3 Top Players of Denim Market Levis
Levi Strauss and Company (LS&CO) is a privately held clothing company known worldwide for its Levi‘s brand of denim jeans. It was founded in 1853 when Levi Strauss came from Buttenheim, Franconia to San Francisco, California to open a west coast branch of his brothers‘ New York dry goods business. It is one of the most leading denim brands and can be considered to be he best as the youth of India is crazy about the best fits and affordable prices of Levi‘s.
Wrangler
Wrangler is a manufacturer of jeans. Its headquarters are located in downtown Greensboro, North Carolina, with production plants in a variety of locations throughout the world. Wrangler Jeans were first made by Blue Bell, who acquired the brand when they took over Casey Jones in the mid-1940s. Blue Bell employed Bernard Lichtenstein (‗Rodeo Ben‘), a Polish tailor from Łódź who worked closely with cowboys, to help design jeans suitable for rodeo use. This was the origin of Wrangler Jeans. The 13MWZ style, introduced in 1947, is still available worldwide. In addition to this, Wrangler has since introduced several other lines that are more designated towards a specific group or demographic. Some examples of this are 20X, Riggs and Aura.
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The Spykar story started way back in 1992, when Mr. Prasad Pabrekar led by ambition ventured into fashion apparels and accessories to make use of his vast repertoire of technical knowledge in processing of denim garments. He started the company with the firm belief that the best investment for the Company was Human Capital, starting with a just a handful, and slowly built up a company with over 300 associates. Spykar has always strived to produce a product, having a global appeal. Denims are the core of the company‘s business. This has been facilitated by the company‘s in-house processing unit and gives the company the competitive edge in consistently producing denims of international quality. To continuously innovate, and to bring new styles, cuts and fabric to the market, the company has a team of young and dedicated designers and merchandisers, who are extremely aware of the latest trends in the international market.Since Spykar designs specifically for Indian audiences, it has the best fits and designs in its repertoire.
The Company was founded by Renzo Rosso and his former boss Adriano Goldschmied of the AG Jeans Company, in 1978. Diesel‘s milestone years include 1985 (Renzo‘s complete acquisition of the company), 1988 the hiring straight out of fashion college of current head designer and Creative Director Wilbert Das, 1991 (beginning of the international marketing strategy) and 1996 (opening of Diesel‘s first flagship store on New York City‘s Lexington Avenue). In February 2007, the company launched a major intimates and beachwear division for men and women that is carried in the retail and department stores. Diesel Black Gold was announced in November 2007.Revenue is largely derived from denim sales, but also extremely successful and influential ranges of accessories and children‘s wear – Diesel Kid.
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The year is 1973, David Bowie has just released Ziggy Stardust & The Spiders From Mars, ´Slades Cum On Feel The Noize´was blaring out on stereos everywhere, Marlon Brando refuses to accept his Oscar as a protest against the plight of native american indians, Mean Streets, Live And Let Die, Paper Moon and Serpico are filling up the cinemas and Evel Knievel is the hero of the moment. By 1980 Pepe Jeans London was rivalling all of the big US brands for No.1 spot in the market place, becoming the UKs most succesful jeans brand ever. Over the last 35 years Pepe has continued with maverick photographers, directors and talent and has had the pleasure of watching some of them grow into who they are today.
The company was formed in 1889 by Henry David Lee as the Lee Mercantile Company at Salina, Kansas producing dungarees and jackets. The growth of Lee was prompted by the introduction of the Union-All work jumpsuit in 1913 and their first overall in 1920. Later in the 1920s Lee introduced a zipper fly and continued to expand. Around this time, the first children‘s overall line was sold. In 1928 H.D. Lee, founder and president of The H.D. Lee Mercantile Company, died of complications following a heart attack. During the 1930s and 1940s the company became the leading manufacturer of work clothes in the US. In 1944, the Lazy ―S‖ became the official Lee back pocket. A flood wiped out Lee‘s Kansas City distribution center. It ruined the entire stock of merchandise, except the Buddy Lee dolls, which floated. In 1954, Lee expanded into casual wear. During the 1960s the company expanded to 81 countries and in 1969 was acquired by VF Corporation, becoming a brand. Denim made the crossover into the fashion market and bell bottoms are welcomed with open arms by Vietnam protesters. Lee aired its first television advertisement, which promoted Lee western wear. In the 1970s Lee shifted its focus
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from the workwear business and began catering to fashion cycles. Lee is one of the best Indian Denim Brands for men in India as is highly popular amongst the youth Numero Uno
Numero Uno, one of the India‘s first indigenously manufactured dennim lables, was incorporated in 1987 by HI Fashion Clothing Co. The flagship brand of Numero Uno Clothing Ltd., Numero Uno has over the years metamorphosised into a dynamic and responsive brand for the youth. Today, it has the privileged of being one of the few power brands that fuses international trends, innovative fabric, washes, treatments and accessible pricing. Numero Uno started by primarily manufacturing jeans for men and slowly moved into jeans for women, eventually designing and manufacturing complete wardrobes for men and women. The company has been introducing trendy and innovative themes every season to cater to changing tastes and lifestyles.
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2.1 Introduction about the Company NAHAR Group of Companies also known as OWM Group is a leading industrial house of northern India, continuously growing and diversifying its activities for economic prosperity of its shareholders and stakeholders, while engaging itself to the well being of Community and environment.
Emanating in 1949 as an small woollen worsted spinner and Hosiery manufacturer, Group has grown itself as leading textile giant of Northern India manufacturing 1. Woollen products like Pullovers, Cardigans, Shirts, Coats, Baby Suites, Mufflers, Shawls, Blankets, Knitting Wool, etc .
2. Cotton/ Blended Knitted Hosiery Pullovers, T Shirts, Baby Suites, Ladies Tops, Winter Thermals, Tracksuits, Jackets, Hoodies etc.
3. Yarn of all types, woollen, woollen blended, Cotton, Polyester Cotton, Other Blended, Compact Yarn, Mercerized Gassed Yarn, Organic Cotton Yarn, etc.
4. Woven Fabric for shirts, trousers as well as Denims etc.
In addition to these major activities, Group is diversifying into new areas and as on date Group is engaged into Sugar Manufacturing, Steel, BOPP film, Investments, Lending, Financial Advisory, Solar Power Generation, Wind Mills and Non-Conventional Co- Generation Power Plant etc. etc.
Productive work environment, Corporate Governance, Healthy business ethics, continuous improvement and dynamic employee engagement have been the key to our excellence as an Industry Leader.`
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The Management Chairman`s Perspective Jawaharlal Oswal
As we step in to the threshold of the new millennium, it's time to look back, to move forward. Take stock of the past; scrutinize our present before charting our agenda for the future. Globalization and liberalization have opened up a brave new world for us, offering new challenges along with new opportunities. At Nahar, keeping pace with the changing environment is our forte since the world is our market and the spirit of excellence, our enduring credo. Propelled by new technologies and inspired by our exalted goal to explore new frontiers, our march towards blazing new trails to span new horizons takes on a new dimension setting the tone for a new millennium
Management Strength
Vision is the key. Without vision there can be no mission, no agenda to road map the future. Vision provides the vital differential between the ordinary & extra ordinary, defining the cutting edge that powers organizations way above & beyond competition. No progressive group can ignore this vital input. 16 | P a g e
Kamal Oswal
[email protected] Global Thinking
Globalization offers exciting challenges that can be converted into rewarding opportunities only if you are sharply attuned to the ground realities pertaining to business and industry. At the end of the day, words remain words. Explanations remain explanations. Promises remain promises. Only performance speaks.
Dinesh Oswal
[email protected] OUR PHILOSOPHY At Nahar, each company continues to practice good Corporate Governance. The Group firmly believes that good Corporate Governance is the key to success in business. The Group‘s corporate philosophy envisages creation and maximization of Shareholder‘s/Stake holder's wealth while observing the highest levels of transparency and accountability Code of Conduct for Board Members and Senior Management At Nahar, each company is committed to conduct its business in accordance with the applicable laws, rules and regulations and the highest standards of transparency. The herein mentioned code of conduct, applies to all the Directors and Senior Managers of the Company and sets forth specific guidelines for the performance of their professional duties/responsibilities.
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Compliance with Laws, Rules and Regulations All Directors and Senior Management Personnel shall act in the interest of the company and shall comply with all the applicable laws, rules and regulations of the relevant regulatory and other authorities as may be applicable to such Directors and Senior Management Personnel in their individual capacities Conflict of Interest No Director or Senior Management Personnel shall engage in any business or activity or enter into any relationship which might result in conflict of interest with that of the company unless he/she makes full disclosure of all the facts and circumstances to the Audit Committee and obtains written approval of Chairman or Managing Director of the company. Security Transactions/Confidential Information All Directors and Senior Management Personnel shall safeguard the confidentiality of all the information that they become privy to in connection with the company‘s business and shall not derive any benefit or assist others to derive any benefit from such confidential information which is not in the public domain and thus, continues to be ―insider" information
SOCIAL RESPONSIBILITY Mohan Dia Oswal Cancer Treatment & Research Foundation Is a premier specialized Hospital, In the service of Public Since 1984 is Equipped with Ultra modern Diagnostic & Treatment Facilities. Patients requiring admission will be treated with 25% concessional rates at Base Hospital (Mohan Dai Oswal Cancer Treatment & Research Foundation, Ludhiana).
Hospital is being run as Charitable Organization with minimum charges and equipped with basic medical facilities along with: • Comprehensive Cancer Care Center • Well Established Department Of Radiation, Medicine & Surgical Oncology • Treating over 3,000 new cancer patients annually • Recognized training schools • Postgraduate courses (DNB)
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GO GREEN To honor the global slogan of "GO GREEN", company has taken reasonable initiatives to fulfill its social responsibility towards the global community and nation.
Nahar Group is promoter of Nimbua Greenfield Punjab Limited (www.ngpl.co.in) formed by a consortium of Industries of Punjab for developing a common facility for storage, treatment and disposal of hazardous wastes generated by the Industry with a Government of India grant. (www.ngpl.co.in)
The company has a long term vision to generate Power by using non-conventional and renewable energy sources like: • Company has set up non-convention energy generation by putting up Rice Husk Based Co–Generation power plants of 24 MW capacities in Ludhiana and Lalru in Punjab. Company's plants are approved by United Nations and CER (Carbon Emission Credits ) are being granted
• Company has also set up non-convention energy generation by putting up Solar Power PV Project of 5 MW capacities in Distt. Jodhpur, Rajsthan. Company's plants are approved by United Nations and CER (Carbon Emission Credits ) are being granted.
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• Company has also set up non-convention energy generation by putting up Wind Turbine Generators (WTG) of 2.35 MW capacity in Distt. Tirunelvelli, Tamil Nadu and Chikkodi Wind Park, Karnataka. Company's plants are approved by United Nations and CER (Carbon Emission Credits ) are being granted
OUR PRODUCTS Textiles
Oswal Woollen Mills Limited
Nahar Industrial Enterprises Limited
Yarns
Nahar Spinning Mills Limited
Nahar Industrial Enterprises Limited
Oswal Woollen Mills Limited
Woven Fabrics & Garments
Nahar Industrial Enterprises Limited
Oswal Woollen Mills Limited
Knitwears & Garments
Nahar Spinning Mills Limited
Monte Carlo Fashion Limited
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Cotton County Retail Limited
PolyFilms
Nahar Poly Films Limited
Sugar & Other Products
Nahar Industrial Enterprises Limited
MONTE CARLO FASHION LIMITED
2.2 About Monte Carlo Monte Carlo Fashion Ltd was incorporated on 01.07.2011 with the objective to take over the readymade garments business of Oswal Woollen Mills Ltd. As per the orders of Honorable Punjab and Haryana High Court the garment business of Oswal Woollen Mills was transferred to Monte Carlo Fashion Ltd w.e.f 01.04.2011.
Our woollen products include sweaters and cardigans, whereas, our cotton knitted garments include tshirts and track suits. Our woven garments portfolio includes shirts, trousers, suits, jackets and denims. Our woollen and cotton garments primarily cater to the premium and mid-premium segments in the branded apparel industry. We also supply accessories including belts, ties, inner wears, thermal wears and socks. Both the 'Monte Carlo' and 'Canterbury' brands were launched by Oswal Woollen Mills Limited ("OWM"), one of our group companies which were engaged in the textile industry including spinning of woollen and cotton yarn, weaving denim fabric and manufacture of garments. However, with effect from April 1, 2011, the woollen and cotton garments business of OWM under the brands 'Monte Carlo' and 'Canterbury' were demerged into our Company.
We have a manufacturing facility, having a capacity to produce approx 1.40 million pieces of woollen knitwear, in Ludhiana, Punjab fully backed by the facilities for product development, design studio and efficient sampling infrastructure for our woollen garments which are completely manufactured in-house. We follow an asset-light model for our cotton knitted garments and woven garments by primarily outsourcing the production of our knitted and woven products to a network of job work entities and monitor our quality assurance system by appointing a technical team to closely supervise and inspect the production process. 21 | P a g e
The strength of our brands such as 'MONTE CARLO' and 'CANTREBURY' has significantly contributed to the success of our business. We believe that our success depends on our ability to anticipate, identify and respond to changing fashion trends in a timely manner. We have 150 EBO's and more than 1000 MBO's in all over India. We intend to expand our reach by opening more 'Monte Carlo Exclusive Brand outlets (EBO's)' across the country to reposition the brand 'Monte Carlo' as an 'All Seasons Pan Indian Brand'. We sell our premium and High quality range of Woollen Hosiery garments under 'Canterbury' brand name. 'MONTE CARLO' has been recognized as a 'Superbrand' for woollen hosiery garments since Fiscal 2003 by International Society for Superbrands. Philosophy Monte Carlo one of finest woollen wear in India Philosophy: The Triangle MC has its own important and define as MEN, WOMEN & WOOLLEN which complete the three dots of triangle...in between how MONTE CARLO plays as catalyst .Where love is internal part define the relationship where expressing your love , affection and warmness of relationship
TAGLINE -
“it’s the way you make me feel”
Brand Strategy Our brand strategy is synonymous with the customer strategy which is designed to give our customers the freedom- to express themselves through a wide range of fashion options & to get the best value for money. The strategy as part of the growth plan is to be customer-focused & technology driven in delivering innovative, trendy & fashionable garments.
Aggressive promotional activity is undertaken by the company by way of Electronic Media, Print Media, Outdoors and Events in order to enhance the brand value of the product and to have wider recall.
Our Design Studio with Sharp Detailing An in-house design studio continuously works on new designs with latest styles, trends & looks. Stringent quality measures are adhered to, at every stage, right from manufacturing, processing and packaging thereby providing flawless craftsmanship.
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IT Infrastructure
Our entire backend system in SAP enabled. Our POS is on DOLPHIN. This complete system & data Integration from manufacturing to retail enables us to manufacture as our sales. Provide trends forecast to enhance sales and help our franchisees order more efficiently. Our Approach Monte Carlo, by directly approaching the customer through our distribution channel comprises of a mix of 'Exclusive Brand Outlets (EBO's) ', network of national chain stores and 'Multi Brand Outlets (MBO's)'. We opened these outlets in towns and cities, where there are more potential middle and upper class population with increasing disposable income. At present we have 150 EBO's and more than 1000 MBO's in all over india. Opening up of additional exclusive outlets will not only enlarge to reach of our 'Monte Carlo' products and generate additional revenues and improved margins. Our franchisee ensured :
a. Lower price as compared to competitors b. Better and More consistent quality than competitors c. Better return on investment for franchisee d. Shorter product introduction cycle
Totally integrated manufacturing activities ensure low cost sourcing and better quality.
Designs and Merchandising expertise, with an eye on the pulse of fashion. We have in house design team which works continuously on market feedback. We design our apparel range keeping in mind our target customer, latest fashion trends as well as customer's affordability.
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Experienced and efficient Management Our management are in textile industry since 1949. Our company is managed by a team of experienced and professional managers, exclusively focused on different aspects of the apparel industry such a design, merchandising, manufacturing, sourcing, marketing, quality control, logistics and finance.
Types of Monte Carlo Denim of Men
1- Straight Fit. 2- Narrow fit 3- Comfort Fit. 4- Slim Fit. 5- Denim Combopack
Types of Monte Carlo Denim of Women
1- Strech Denim. 2- Comfort Fit. 3- Slim Fit
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3.1REVIEW OF LITERATURE Numbers of studies have been conducted about the brand perception about Monte Carlo. And numbers of reviews on the previous researches are present due to paucity of time; a few snapshots of literature are given here.
Desuza (1994) has studied that in its simplest form, a brand is a noun. It is the name attached to a product or service. However, upon close inspection, a brand represents many more intangible aspects of a product or service: a collection of feelings and perceptions about quality, image, lifestyle and status. It creates in the mind of customers and prospects the perception that there is no product or service on the market that is quite like yours. In short, a brand offers the customer a guarantee and then delivers on it.
Kleller (1996) has concluded that retail influence on the decision making of both parent and child during the purchase of children‘s casual-wear clothing. Principally, it analyses the impact of influential agents on the buying outcome by examining the parent-child relationship and the retailer influence in relation to need and motivations. By means of 100 parent and child questionnaires and one retail interview, it was concluded that parents were the most influential in deciding which clothes were bought, but children were found to exert a strong influence. The importance of branding to eight to ten year olds supports previous research in that it is closely correlated to peer pressure and the need to be accepted. Retailers were found to influence decision making mainly by the use of merchandise and branding to attract both children and parents.
Kenedy (1997) finds that consumer perception of physical attributes had a strong impact on perceived quality. Brand was also important, but the effect of price on perceived quality was less important than intrinsic attributes or brand (except for U.S. customers, who have been conditioned to look for sales). U.S. brand name did affect quality perceptions in all countries except China; however, most respondents did not examine the country-of-origin label when evaluating garments. They appeared to base their evaluations on their perception of U.S. brands
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rather than actual country of origin. That is, consumers appeared to use U.S. brand names as an indicator of product quality, fashion ability, etc. The direct effect of price on perceived value is significant in all markets. There is a strong relationship between perceived quality, value, and willingness to buy in all markets.
Flemming (1999) in his research finds that a study on the effect of brand names on men's perception of quality and price of slacks according to age, income, and socioeconomic class. Results of the study indicate a significant difference in attribution of quality for those subjects familiar with all labels used in the study. Subjects not familiar with labels judged the quality to be the same.
Cena (2001) found that the consumer attitudes toward domestic- vs. US-made apparel differ among consumers in Taiwan. Variables to be examined include (1) apparel attributes; (2) selfconcept; and (3) demographics. The Fish be in attitude model was used to measure consumer attitudes. The mall-intercept method was used to collect most data in four major cities of Taiwan. A total of 485 Taiwanese consumers completed and returned useable questionnaires. Results indicated that consumer attitudes toward Taiwan vs. US-made apparel differed significantly among consumers in Taiwan. Consumers had an overall more positive attitude towards US-made apparel compared with Taiwan-made apparel with regards to care instruction label, color, quality, apparel fiber content, fashionableness, attractiveness, brand name, and comfort apparel attributes. For self-concept variables only modest/vain and thrifty/indulgent had a significant difference between consumers who preferred US over Taiwan-made apparel. Demographic factors of age, gender, education, residence area, travelled abroad and country-of-origin preference had a significant relationship with consumer attitudes toward apparel. This study is aimed at understanding Taiwanese consumers' attitudes toward foreign-made apparel. Overall, Taiwanese consumers preferred US-made apparel; however, the apparel attribute of size range needed improvement to increase customers' satisfaction.
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Wang et al. (2001) found that Apparel price deflation in the United States has been persistent since 1993—with prices declining in 9 of 11 years—and has created myriad challenges for retailers and manufacturers seeking to understand and meet consumers‘ expectations for product quality. Two key factors in understanding these expectations are (1) consumers‘ pre-purchase perceptions of quality, especially in relation to price, and (2) their attention to garment care instructions, which affects their satisfaction with product performance. Cotton Incorporated has been involved in research to answer these types of questions for more than a decade. The perusal of literature revealed that the previous studies emphasised on the study of the impact of brand names on customer‘s perception of quality and price of slacks and various other branded products of various brands according to age, income, and socio economic class. Results of the study indicate that customers are satisfied with such products
.
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4.1NEED OF THE STUDY Apparel market has been updated by a large variety of products having up to date features varying prices, quality and other sales promotion schemes offered by different companies which make customers deliberate before dealing with the company product.
As different customers have different point of view regarding the policies of a company so it is a necessary to study the perception of the customer toward the various apparel brands and its acceptance. Nevertheless market must study customer wants, perception, preferences and their perception toward different brands available in the market.
The scope of the study is confined to current time period. For the sake of study survey was limited to Punjab specifically in Ludhiana A limited sample was selected to fulfill the various objectives of the study and diverse customers on the basis of their economic stability and they type of response while purchasing apparels brands The scope of research is related to having a general view of people regarding Monte Carlo Brand and also in order to find the general perception of people towards various apparel brands.
4.2 SCOPE OF THE STUDY The scope of the study is confined to current time period. For the sake of study survey was limited to Punjab in Ludhiana. A limited sample was selected to fulfill the various objectives of the study and diverse customers on the basis of their economic stability and they type of response while purchasing apparels brands The scope of research is related to having a general view of people regarding Monte Carlo Brand and also in order to find the general perception of people towards various apparel brands.
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4.3 OBJECTIVE OF THE STUDY To find out the position of Monte Carlo Denim among competitors Brand. To check the level of awareness of Monte Carlo Denim. To identify the attributes considered by customer while purchasing an apparel brand To study the consumer preferences of Monte Carlo Vis –a –Vis other competitors
5.1 RESEARCH METHODOLOGY Research Methodology is a way to systematically solve the research problem. The Research Methodology
includes
the
various
methods
and
techniques
for
conducting
a
Research.―Marketing Research is the systematic design, collection, analysis and reporting of data and finding relevant solution to a specific marketing situation or problem‖. D. Slesinger and M.Stephenson in the encylopedia of Social Sciences define Research as ―the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in the practice of an art‖. Research is, thus, an original contribution to the existing stock of knowledge making for its advancement. The purpose of Research is to discover answers to the Questions through the application of scientific procedures. Our project has a specified framework for collecting data in an effective manner. Such framework is called ―Research Design”. The research process followed by us consists of following steps:
Research Design:-
The research design for this study was
Descriptive Research:-A type of conclusive research which has as its major objective the description of something-usually market characteristics or functions. In other words descriptive
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research is a research where in researcher has no control over variable. He just presents the picture which has already studied . Conclusion Oriented Research:-Research designed to assist the decision maker in the situation. In other words it is a research when we give our own views about the research.
5.2 Sampling Design-Sampling can be defined as the section of some part of an aggregate or totality on the basis of which judgement or an inference about aggregate or totality is made. The sampling design helps in decision making in the following areas.
Sample frame-Sample frame refers from where the questionnaires are to be filled. Our sample frame consists of family, friends and classmates.
Sample size- Sample size is the number of elements to be included in a study.Keeping in mind all the constraints 100 respondents were selected. Sample unit- Sampling unit is the consumer of branded apparel and dealers of branded apparel in Ludhiana The sampling unit of our study is of people who used brand Monte Carlo.
Sampling Techniques- The sampling techniques used are convience technique and simple random sampling technique.
Data Collection And Interpretation- Research work is exploratory in nature Information has been collected from Primary Data
Sources Of Data Collection
Primary sources- Primary data are those, which are collected are fresh and for the first time, and thus happen to be original in character. Primary data has been collected by conducting surveys through questionnaire, which include both openended and close-ended questions and personal and telephonic interview.
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Tools of Data Analysis: To analyse the data obtained with the help of questionnaire, following tools were used.
Tools of Presentation
Tables: This is a tool to present the data in tabular form. Percentage, Bar Graph and Pie Charts: These tools are used for analysis of data.
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6.1 Data analysis and Interpretation
1. Which brand of Denim do you usually purchase?
Interpretation and analysis
It is analyzed from the above figure that 51% people of Ludhiana is using Levi‘s Denim, 20% is using Pepe Denim, 15% is Using Monte Carlo Denim , 10% is using Killer Denim and 4% Numero Uno Denim and the highest percentage of Levi‘s .
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2-. Which attributes attract you to buy the Denim of different companies?
-
Attributes attracts Monte Carlo
Interpretation and analysis After the customer survey the Monte Carlo the product quality is attract the percentage of product quality is 33% ,Look of the store is 12%, 20% Style and variety ,6 % customer service ,23% Fit(comfort) and 6% price. So the Monte Carlo is famous for Product Quality of the products.
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Attributes attracts Pepe Denim
Interpretation and analysis After the customer survey the Pepe Denim is also famous for the product quality and it is attract the consumer and the percentage of product quality is 33% ,Look of the store is 12%, 20%, Style and variety ,6 % customer service ,23% Fit(comfort) and 6% price. So the the Pepe Denim is famous for Product Quality of the products.
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-
Attributes attracts Levi’s Denim
Interpretation and analysis After the customer survey the Levi‘s Denim the style & variety is attract the consumer the percentage of style & variety is 48% ,Product quality is 17%, 12 % customer service ,11% Look of the store , 9% fit and 3% price. So the Levi‘s Denim is famous for the style and variety of the products.
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-
Attributes attracts Killer Denim
Interpretation and analysis After the customer survey the Killer Denim is famous for the Fit and the customer is more prefer Killer Denim the percentage of product quality is 17%, Look of the store is 10%, 20% Style and variety, 7% customer service, 34% Fit (comfort) and 12% price. So the Killer Denim is famous for fit. So the consumer prefers Killer Denim.
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Attributes attracts NumeroUno Denim
Interpretation and analysis After the customer survey the Numero Uno Denim the fit is attract the consumer the percentage of Fit is 27.2% ,Look of the store is 18.8% , 12.12% Style and variety , 21.2% customer service ,15.15% product Quality and 6.06% price. So the NumeroUno is famous for Fit (comfort) of the products.
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3- Have you ever seen Denim Advertisement?
Interpretation and analysis After the survey the 41% consumer looks the advertisement of Denim, 24% Pepe Denim, 24% Killer Denim , 7% of Killer Denim, and 4% Numero Uno Denim so the maximum no people look the advertisement of Monte Carlo.
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4-In which medium did you watch the Advertisement?
Interpretation and analysis After the survey 40% peoples look the advertisement through internet , 28 % of people looks the advertisement of through print media ,22% people through Hoarding and 10% peoples looks the advertisement through Tv commercials.
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5. Which price bracket would you prefer to buy the Denim Product?
Interpretation and analysis After the customer survey peoples like to purchase in the range of 1400-2000 and the percentage is 56% and the bracket of 2000-2500 is the percentage of 41 % and 3% of people like to purchase in the bracket of 2500-3000.
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7.1 FINDINGS OF THE STUDY
The study revealed the following findings:
1) We interpret that all of the respondents are aware about the brand ‗Monte Carlo‘
2) By this we interpret that majority of the respondents have used the products of Levi‘s Denim.
3) The figure shows that maximum of the respondents are aware about the Denim of Monte Carlo.
4) The figure shows that maximum of the respondents consider quality as the factor affecting the purchase of Monte Carlo.
6) The interpretation is that majority of the respondents are neutral about the prices being charged by Monte Carlo.
7) It is interpreted that maximum of the respondent consider Monte Carlo as an average brand.
8) It is interpreted that majority of the respondent consider Internet, Advertisement, Hoarding and TV Commercials the source information for Monte Carlo.
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7.2 Recommendations
The following recommendations are made after the above study.
1) Monte Carlo should develop more design in Monte Carlo Denim product.
2) Monte Carlo should be more range in Denim product and price should be reduced.
3) The suggestion is variety should be increase in Monte Carlo Denim product.
4) The Monte Carlo is improving your advertisement agenda. By more electronic media advertisement help Monte Carlo to become a Super Brand
5) The suggestion is try to innovate more design this thing promote the product.
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7.3. Limitations of the Study
Due to constraints of time and resources, the study is likely to suffer from certain limitations. Some of these are mentioned here under so that the findings of the study may be understood in a proper perspective. The limitations of the study are:
Hard Enough to Fetch Information: It was not an easy task to get information from people using various brands. People were not always open and forthcoming with their views, even agitated and not disclosing.
Limited Scope: Scope of study is limited to Ludhiana only and because of limited time and money, the results of study may not be generalized for India as a whole.
Results may be Inaccurate: This study is based on the assumption that perceptions are true and factual although at times that may not be the case.
Existence of Biases: Though every care has been taken to eliminate such biases, but considering the human factor the possibility of small bias having come up cannot be ruled out altogether.
Consumer Behaviors: Consumer behavior is dynamic in nature and thus over the time, finding of today may become invalid tomorrow.
Small Sample Size: The sample size taken is small and may not be sufficient to predict the result with 100% accuracy and hence findings may not be generalized.
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7.4 CONCLUSION The Monte Carlo is famous for the quality and style of the Product and the entire respondent aware about the Monte Carlo Denim through Internet, Advertisement, Hoarding and T.V Commercials. Monte Carlo got a good brand identity and brand loyalty from the customers. Consumers are willing to pay the ample amount for the Denim of Monte Carlo. In Addition we can say that Monte Carlo is good going in the market and has a bright growth in the future. With the growing competition in the market with domestic and international brands complex the market place, each companies are adopting innovative strategies to make the customers loyal and satisfied. Monte Carlo is managed to keep its customers in touch by providing them according to their needs and taste.
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8 Refrences Pandey and Rastogi, N.(1994). ―Study of brand perception,‖ Marketing Management, 44(July):18.1-18.21 Mercer, D.(1996). ―Brand Perception Arbitrage,‖ Oxford Journal, 78(May):45-53 Kothari C.R.(2000), ―Marketing study of brand,‖ Sage Journal, 89(September):3456 Kothari P. and Kevinlane K.(2001), ―Management of branding,‖ Cambridge journal, 77(June):56-67 Burton, S.(2003),‖Brand Perception analysis,‖Journal of advertising research, 43(June):162-172. Gendall, P.(2004),‖An empirical study of Brand Perception‖, International journal of market research,37(July):112-119
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9 Annexure
QUESTIONNAIRE Respected sir/madam, It is humbly requested that I am doing research project on the topic entitled ―Positioning of Monte Carlo Denim Vis-à-Vis Other Competitive Brands‖. In this regards your kind cooperation is needed in filling the questionnaire herewith. Further, we assure you that all the information provided by you would be kept strictly confidential and will be used for academic purpose only. Thanks Name ………………
Age:…………………
Gender: …………….
Occupation:…………..
1. Which brand of Denim do you usually purchase? a) Monte Carlo Denim d) Killer Denim
c) Levi‘s Denim
b) Pepe Denim e) Numerouno denim
f) Any other …….
2. Which attributes attract you to buy the Denim of different companies? (
Brand Name
Look of the
Product quality
Style & variety
store Monte Carlo Pepe Levi‘s Killer Numerouno
3. What do you like about the brand you purchase most frequently? 46 | P a g e
Customer service
Fit (comfort )
Price
Highly
Satisfied
Can‘t Say
Unsatisfied
Highly Unsatisfied
Satisfied Price Product Quality Customer Service Styles/Design Look of Store Wash/Graphics Fit
c) Levi‘s Denim
a) Monte Carlo Denim
b) Pepe Denim
d) Killer Denim
e) Numero Uno Denim
4. Have you ever seen Denim Advertisement?
Monte Carlo
Levi‘s Denim
Pepe Denim
Killer Denim
Denim
Numerouno Denim
5. In which medium did you watch the Advertisement?
a) Print Media
c) Internet
b) Hoarding
d) TV Commercials
6. Which price bracket would you prefer to buy the Denim Product?
1400-2000
2000-2500
7. How many Denim you generally have in your wardrobe?
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2500-3000
>3000
……………………………………………………………………..
8. How frequently do you purchase Denim? …………………………………………………………
9. Have you ever purchased Monte Carlo Denim?
a) Yes
b) No
10. Suggestions for the Monte Carlo Brand Denim? ……………………………………………………………………………………………………………… ……………………………………………………………………………………………………………… ………………
Thank You!
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