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growth strategy for fabindia .

growth strategy for fabindia .

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fab india fab india Presentation Transcript

  • Group Members Nitish Vishvakarma(12/PGDM/046) Piyush Dubey(12/PGDM/ 047)Pragati Maity (12/PGDM/048)Praveen Kr.Rawat (12/PGDM/049)Priyanka Rai (12/PGDM/051)Rachit Johri (12/PGDM/052)Ashutosh Srivastava (12/PGDM/112)Tripti Rai (12/PGDM/115)
  • INTRODUCTION•FABINDIA was founded by John Bissell as a home furnishingexporter in 1960 to market the traditional arts and crafts of India.•1974 saw FABINDIA’S first retail store in Greater Kailash .•Now it has over 170 stores across India and abroad and is managedby his son, William Bissell.•FABINDIA links over 80,000 craft based rural producers to modernurban markets.
  • FABINDIA PRODUCTSGarments Home furnishingsHome linenAccessoriesHome products Floor coverings Personal products Organics
  • COMPETITIONPRIMARYCOMPETITORSSTRENGTH WEAKNESSRetailing houses(Shoppers Stop,Westside, Globus)1.National presenceof outlets.2.Retailing expertiseand competitivepricing.Diversity of productis very less.Designer Boutiques 1.Scope of productcustomization.2.High levelof customer intimacyNo uniformityin price acrossproducts.
  • SecondarycompetitorSTRENGTH WEAKNESSTailoring outlets 1. Reaching out tocustomers with largedispersion.2. Ensures convenienceof demanding service1. Veryfragmented business approachNGO(PromotingHandicrafts)1. Strong communitybased operation.1. Lack ofretailingexperience andinability tominimize cost.
  • STREGNTH•Customer loyalty.•Differentiable products.THREATS•Substitute producingcompetitor.•Not in touch with fashiontrends.OPPORTUNITY•Organic food products.•Customer acquisitionstrategies.•Utilize multi brand retailoutletWEAKNESS•No promotion strategy.•Low awareness.•Product qualitySWOT
  • CURRENTMARKETING STRATEGY
  • The weaver weaves someyardage and show it tothe regional SRC.The SRC calls the designers,They approve the fabric, workwith the weavers to developthe same samples.Designer shows samples toFABINDIA’S product selectioncommittee.The price is then finalized and anorder is placed with the weaver.The weaver bringscomplete order to theSRC warehouse.Though an online order booking system, thestore manager books the quantity needed,from the SRC warehouse the stock moves toFABINDIA’s regional warehouse.The SRC replenishes the stock bygetting more of fabrics from theweavers .
  • SHORT COMMINGS OF THE CURRENTMARKETING STRATEGY• It is not consumer driven.• More emphasis on production concept.• Delays in delivery from artisans.• Caters small segment of the society.
  • PROPOSED STRATEGYCONSUMERSURVEYSRCWEAVERInformation gained isthen absorbed byFABINDIA Store.FABINDIASTOREFABINDIA’SDESIGNERSInformation is thenanalyzed by designersand trendy patternsare created.Proposed design isthen passed on to SRC.The weaver thenproduces onlyproposed designsThe information iscollected from thecustomers throughcustomer survey. Aboutthe new trends /designs.
  • • Strategy aimed at winning larger market share, even atthe expense of short-term earnings. Fourbroad growth strategies are diversification, productdevelopment, market penetration, and marketdevelopment.
  • Existing Product New ProductExistingMarketNewMarketMarket PenetrationDiversificationMarketDevelopmentProductDevelopmentAnsoff Matrix
  • Bringing Efficiency from ProcurementQualityControl(SRC)FabIndiaInitial RawMaterialFromWeaver/FarmerAcceptedQualityQuality notup to markStored AndManufacturedforReinvestmentIntendedforDesigningAccessoriesSecondaryMarket,DumpedMarketPenetrationProductDevelopmentMarketDevelopmentDiversification
  • Chasing for Market ShareBy Diversifying Product line(Apparels)Meena Bazaar Fab IndiaItem Included: 1 kurti Items Included:1 kurti1 Lower1 DupattaMarketPenetrationProductDevelopmentMarketDevelopmentDiversificationPrice : RS. 1550Price : RS. 1200MarketPenetrationProductDevelopmentMarketDevelopmentDiversificationCouplingAccessoriesWithComplementaryProductApproach
  • Traditional ApproachDecision StageFashion Trends andDesigns DeliveredTo Every StoreSome of the storesmay face fatal results
  • Sense and RespondSensitive Touch Points(STP ‘s)Decision StageTrend distributionBy STP’s Response.Fashion Trends andDesigns DeliveredTo STP’s InitiallyMarketPenetrationProductDevelopmentMarketDevelopmentDiversification
  • THANKYOU