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Project on Marketing of Coir Products
- 1. “Kerala State Coir Corporation Ltd”
- 2. COIR Coir is a unique natural fibre which is extracted from coconut husk and is spun into yarn. Its rigid and absorbing nature makes it durable and capable of retaining colour which enables it to transform into value added products.
- 3. INDUSTRY Coir industry, established in the mid-nineteenth century. The industry is still a traditional one with some outmoded practices. Most workers are from socially and economically backward classes. Provides direct employment to more than 3.5 lakhs workers, majority are female. Major constituents are Co-operatives, Private, Public, Government .
- 4. COMPANY The Kerala State Coir Corporation Ltd, a fully owned government company setup in 1969. Its administrative wings and manufacturing facilities is in a sprawling complex in Alleppey, Kerala. Wide network of 21 outlets spread across the country.
- 5. VISION “To become a company, deeply rooted in societal commitment, with a strong global and local presence, churning out quality products that are innovative, viable and handy and; in the process earning a due profit for the benefit of our stakeholders”.
- 6. OBJECTIVES To promote and expand the industry. To meet the customer’s demands for new and customised designs. To enhance quality. To reduce customer complaints. To control cost of manufacturing.
- 9. COMPETITORS William Goodacre & Sons India Pvt Ltd, Alleppey N.C John & Sons Pvt Ltd, Alleppey D.C Mills, Alleppey Travancore Mats & Matting Pvt Ltd, Cherthala Palm Fibre India Ltd, Alleppey Kerala Balers Pvt Ltd, Alleppey
- 10. PRODUCT MIX Door Mats Coir door mat, an exemplary comfort product accepted in the market for its functional utility and fitness for the purpose. Its brushing quality and their durability to keep the dust away makes the product a unique
- 11. Coir carpets and rugs are eco- friendly floorings. Widely accepted by foreign households for their versatile and robust nature. The thick natural fibre makes these products very comfortable especially in severe weather conditions. Carpet and Rug
- 12. Mattress Coir mattress gives the sleeper a calming sensation and complete relaxation. Thanks for its moisture reducing and ventilation ability. Its natural springy quality gives the sleeper a plush feel. Since coir is resistant to dust this product is highly recommended for those suffering from dust allergy.
- 13. Geotextiles Coir geotextiles fundamentally acts as protectors of the mother nature. This wonder product conserves soil from being eroded and even prevents heavy disasters like land slides. This era where people are very anxious about the climate change and unbalanced environment makes this product in demand and vital.
- 14. Sound legacy of the Company. Eco-friendly nature of the product. Durability and easy handling of the raw material. Newer processing technologies. Support from the Central and State Governments. Huge popularity of coir décor products in foreign countries. SWOT ANALYSIS
- 15. Lack of awareness amongst local consumers. Brand image(misconception) of an ultra-luxury product. Lack of cohesion among manufacturers; poor lobbying power for the sector. Fluctuating currency rates leading to random profits and uncertain buying costs.
- 16. Growing buying power of the Indian consumer. Substantial increase in the size of the target market segment (Middle-class and above). Growing interest in the new Indian consumer in ‘affordable’ luxury. Virtually untapped rural and semi-urban markets. Rising awareness among consumers about eco-friendliness of products.
- 17. New market niche exploration. Growth of coir sector in foreign countries (Sri Lanka and ASEAN members). Lowering of import duties of coir and rival products. Man-made substitute materials. Challenge from newer entrants into the domestic segment.
- 18. MARKETING OF COIR PRODUCTS The future of the traditional industries of India like coir which has an expanding domestic as well as international market depends not only on the improvement of technology but more than all on the adoption of modern marketing methods.
- 19. Exhibitions and Events The company participates in fairs around the nation which: Creates opportunities for companies/manufacturers to interact with key personnels involved in the development and promotion of coir sector. Gives a chance to see and choose the latest designs, encourages to exchange ideas on current fashion trends and enables to foresee the customer preference for the coming seasons.
- 20. Advertisements and Campaigns The company have been conducting many seasonal campaigns during festivals like Onam and important national festivals.
- 21. SUGGESTIONS Expand export network to a few more foreign countries and then foray into the domestic market. An interactive state-of-the-art website where people can actually design their products and also fast delivery of the ordered item(s). House a designer at each store to do exclusive coir-décor in customer’s houses and maintain servicing facility at such stores. Set up permanent stalls in Duty-Free space of airports and replicate domestic model in foreign markets. Approach big business houses to revamp their work spaces of coir theme; trendy and ‘green’ buildings.
- 22. CONCLUSION Coir industry is the most agro-based employment oriented traditional industries in India. It faces a rapid competition in the world market due to the rapid growth in environmental awareness and green movement which is sweeping across the world. It is found that an appropriate marketing mix which includes right product, right price, right place and right promotion is highly essential.