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Strategic marketing at chen one

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Strategic marketing at chen one

  1. 1. BALOCHISTAN UNIVERSITY OF INFORMATION TECHONOLOGY ENGINEERING AND MANAGEMENT SCIENCES Strategic Marketing ChenOne Ahsan Ali, Rabia Iftikhar & Zarqa Qamar – 12309, 12285 & 15911 respectively MBA 5th B July 2nd, 2013 Sir Muhammad Ali
  2. 2. ACKNOWLEDGEMENTS Praise and thanks to “ALLAH” Almighty, the one testing us all at all times and making decisions about what we don’t know and can’t know. The report being submitted today is a result of collective effort. There are innumerous helping hands behind who have guided us on our way. Writing this report appeared to be a great experience to us. It added a lot to our knowledge. This report is one of our memorable experiences in student life. Though words are inadequate in offering thanks to our teacher but we owe our profound gratitude to Sir Muhammad Ali for stimulating our creative abilities by assigning this project to us and for her able guidance and useful suggestions, which helped us in completing the project in time. Whatever we have learnt from her and this project report has put indelible impression on our minds and it is our conviction that this learning experience will always be a source of help in our practical life and professional career. Finally, yet importantly, we would like to express our heartfelt thanks to our beloved parents, for cooperation, help, kindness and blessings, our family and friends for their help and wishes for the successful completion of the work.
  3. 3. Table of Contents 1. Executive summary…………………………………………………….. 1 2. ABOUT ChenOne.………………………….…………………………. 2 3. Corporate Business………………………………………………………3 4. ChenOneVisionStatemen……………………………………………... 4 5. ChenOneMission Statement…………………………………………… 4 6. ChenOne Objectives……………………………………………...…….. 4 7. Link between Mission Statement and Objectives………………………. 5 8. ChenOne4 P’s ………………………………………………………….. 5 9. ChenOne BCG Matrix ………………………………………………….. 8 10. ChenOne Competitive Advantage………………………………………. 8 11. Conclusion………………………………………………………………..9 12. Recommendations……………………………………………………….10 13. References……………………………………………………………….11
  4. 4. 1. Executive Summary The report is about Chen one which gives a glimpse of the history of ChenOne, vision and mission statements, objectives, links between mission statement and objectives, BCG matrix analysis. Conclusions and recommendations are given at the end on the basis on above mentioned content analysis. By going through all the context it is known that overall ChenOne is working so well and by going through the BCG Matrix analysis and 4 P’s the facts were that it has a strong brand name dealing in many businesses and providing high quality products. As ChenOne came in the market in 90’s and captured high market share. This is analyzed through the current position and the efficient and effective operations they are performing.The brand is coming up with many new offerings and by the renowned brand name they can capture more market shares than others.
  5. 5. 2. ABOUT ChenOne As the millennium takes a turn, the free flow of information, resulting from the internet and satellite has resulted in a sweeping change in the fashion trends throughout the globe. Responding promptly to the market need, Mian Muhammad Latif, Chief Executive of Chenab Group, visualized a brand catering to such market requirements. ChenOne is a subsidiary of Chenab Limited, formally Chenab Fabrics and Processing Mills Limited. The Group is one of the largest exporters of home textile products from Pakistan. In 1997, ChenOne opened its first branch in Jinnah Super, Islamabad. This was the first store of its kind in Pakistan offering the complete range of Fashion clothing & foot wear, Bed Linen, Kitchen Accessories and Furniture. The tremendous success and acceptance of the idea reflected the maturity of our customers on one hand, and on the other hand, prompted ChenOne to open branches nationally & internationally, so nationally in Rahim Yar Khan & Islamabad (1997), Lahore (Gulberg) and Faisalabad (1998), Karachi Park Tower (1999), Rawalpindi (2001), Peshawar(2002), Abbottabad and Lahore (defence) in 2004, Multan (2005), Sialkot &Gujrat in 2006, Karachi Tariq Road (2007) , Sargodha & Bahawalpur in 2009. Plus Internationally ChenOne opened its branches in Dubai (Jumeriah),Abu Dhabi (Marina Mall),Ajman (New Sanaya), Al-Ain (Bawadi Mall) ,KSA (Al-Thiyafa Mall Makkah and Ollaya Street Riyyadh) and simultaneously during this period. Outlets in Gujranwala, Hyderabad, Kuwait and Musqat are our near future destinations. With the target of opening 50 stores in Pakistan by 2015, ChenOne will maintain its status of being the largest chain of stores in Pakistan.
  6. 6. 3. Corporate Business ChenOne takes high class living & alluring lifestyle a step further with the introduction of its business development service entitled to serve a touch of class & the trademark ChenOne lifestyle to the corporate industry. ChenOne's business development department is aimed at the corporate sector, which includes the hospitality industry, i.e. hotels, prestigious clubs, restaurants, civil & armed forces guest houses, government & private institutions and local & multinational companies. This department offers a wide range of coordinated concepts in bed linen, bed basics, curtains, table linen, furniture, bath & kitchen accessories & other home apparels. This department has taken charge of a network of business throughout the country & provided its services & products to top-notch institutions nationwide.
  7. 7. 4. ChenOne Vision Statement ChenOne Vision 2010 despite obvious cultural and business challenges, ChenOne has experienced success because of its ability to transfer the company’s unique culture and effective retailing concepts. ChenOne has realized the potential growth worldwide; by 2010 ChenOne would open several branches in existing and international markets. 5. ChenOne Mission Statement To be the business house of the first choice for customers-- To be a change leader-- To produce innovative, relevant and cost effective products-- Setting and maintaining high standards-- To earn profit by achieving optimum level of production by using state of the art technologies-- To provide ideal working conditions to employees and to take care in their career planning and reward them according to their skills and responsibility-- To meet social and cultural obligations towards the society being a patriotic and conscientious corporate citizen. 6. ChenOne Objectives ChenOne foundation has an all encompassing objective of community well being and restoration, all of its diverse undertakings comply with this sole aim of the foundation. ChenOne foundation aims to enhance the persistent provision of first-rate medical and health facilities to the deserted segregations of the society. The foundation pledges to work in coalition as well as independently for all the community reinstatement programs in any national calamity that might cross the country. Considering the intellectual strength as the primary credential to the community elucidation, ChenOne foundation deems to facilitate the process of educational evolution in the country. And in this pursuit, it looks forward to enter into affiliation with various educational institutions so that the opportunities of gratis education could be made possible for the needy students. Pertaining to the prevalence of unemployment and redundancy in the country, ChenOne wants to endorse vocational and technical education in Pakistan, acting as a platform of benefaction in many prospective aspects. ChenOne foundation believes to support and elaborate the right notion of women empowerment in Pakistan. Considering this fact, the foundation wants to pursue many projects of women education, vocational training and employment as an aid to enhance the status of women as well the economy of the country. The foundation has been and further wants to pursue in the spectrum of credit fund establishment or micro finance support programs for the deprived community in the spirit of its genuine contribution towards the reduction of unemployment and prevailing poverty.
  8. 8. 7. Link between Mission Statement and Objectives ChenOne states in its mission statement, “To meet social and cultural obligations towards the society being a patriotic and conscientious corporate citizen”. For this purpose they have come up with the foundation named as “ChenOne foundation” which aims to work for the betterment of society by providing medical facilities. The foundation is not limited to work with in the country only but across the country as well. The foundation also aims to start educational institutes for the needy students so that many of them are able to learn and educate themselves. The foundation not only focuses only on basic education but also on technical trainings to reduce unemployment and is focusing on female education, their vocational training and employment to upgrade the status of women and economy of the country. 8. ChenOne 4 P’s Marketing mix strategies Product ChenOne is dealing a shopping product and specialty product. Product mix of 2010 is Footwear and cloths (Gents / Ladies / kids) Complete Range Cooking Utensils Cosmetics New Born Gift Sets. Designers Jewelry Watches. We are manufacturing a comfortable clothes .quality of product is important to establish a name in the market. The woman of today world is to keep up with the changing world.ChenOne has a latest collection of woman wear; footwear and bags. We ensure that our quality will satisfy the customer wants and needs. Fashion products by ChenOne are featured in leading fashion magazines of Pakistan. The ChenOne kiosks are popular attractions in the Dubai Shopping Festivaland it is a reputed and well-known brand inside and outside Pakistan.ChenOne totally committed for quality. We always assure quality to our customer. Chen one’s brands have a growth stage because in future they will open the outlets at different places and target the middle class. Product Category Apparel & Accessories Handbags Neckwear Clothing - General Clothing & Accessories - Men Clothing & Accessories - Women
  9. 9. Pants T-Shirts Shoes Family & Community Children & Child Care Boys' Clothing & Furnishings Children's & Infants' Wear Girls' Wearing Apparel Home & Garden Bedroom & Linens Bed Spreads Bedding Furniture Dealers Kitchen Accessories Interior Decoration Shopping & Specialty Stores Men's Clothing & Furnishings Neckwear Pants Shoes T-Shirts Department Stores Garments Stores Home Stores
  10. 10. Price Chen one set a skimming price to generate revenue.chen one deal a life style and designed product because its life cycle is short that’s a reason they charge a high price.chen one pareesa lawn range is from 2000 to 2300 Rs / suit Chen one gives order and makes furniture like beds and sofas for hotels. Wood’s quality is good that’s the reason they charge high price. company carries out research on competitor’s price and brand loyalty when it feels extreme necessity of changing price. Place ChenOne using a indirect channels. Chen one extends its outlets all over the Pakistan and worldwide. In worldwide they target the Middle East and Europe. In Pakistan there place is very potential because there quality product is good and they consider the customer wants and demands. They introduce the seasonal clothes which prints are very unique and latest. That’s the reason there place is good.chen one maintain the international and national standard and keep in mind to culture that’s the reason there place day by day increase. Chenone has today 10 local and six outlets in the Middle East with an annual turnover of Rs 1 billion. Chen one is associated with honorable places. President House Holiday Inn, Islamabad PSL (Pakistan Services Limited) Prime Minister House Best Western Hotel, Islamabad Royal Palm Golf & Country Club, Lahore. governor House, Lahore Islamabad Club Pakistan Steel, Karachi Sindh Club Karachi Serena Hotels Artillery center, Attock Pakistan Military Academy, Kakul Promotion When Chen one introduce its latest product they organize the fashion shows, print fashion magazines conduct seminars and exhibitions regarding latest fashion. There has been a scheme at ChenOne stores whereby buyers making purchases for over Rs 2,000 are given a coupon for the lucky draw. Under the same scheme a family from Karachi visited ChenOne in Lahore and won a Toyota Corolla car. The facility to buy such a wide range of products under one roof compels a person to say that ChenOne is a store for the whole family. Superior quality and attractive prices will encourage the
  11. 11. people, accustomed to 'foreign products' to switch over to ChenOne without compromising quality. Chen one earns a $1.3 million profit on $24.5 million in revenues. Chen one offers a free home delivery and offer special discount. 9. ChenOne BCG Matrix ChenOne is basically dealing in multiple businesses as it is mentioned above that they provide all the accessories for the whole family, they always try to bring innovation according to the fashion and trends specially in fabrics, they required new technology with the changing environment and they captured high market share on the basis of good quality, brand name and customers loyalty so the ChenOne fabrics falls in the 2nd quadrant named stars, on the other hand the furniture and in other businesses it has a market share but the industry in which they operate in not growing rapidly as compare to fabric industry so the other businesses falls in 3rd quadrant, cash cows . 10.ChenOneCompetitive Advantage Brand Equity Brand Equity Brand is name, sign, design or combination or theme to differentiate from other competitors. With the help of continuous R & D Investment, Skillful advertising and excellent trade and consumer service, ChenOne will maintain or improve its brand awareness perceived quality and functionality and positive association. Leading companies based there growth on enquiring and building there brand portfolios like ChenOne.
  12. 12. 11.Conclusion The textile industry of Pakistan has a wide range to attract internationally or nationally customer. Pakistan is the 4th largest country to produce fine cloths. Chen one is at a piece which is not affordable to most of the people in the country. Designer clothes are an uprising in Pakistan as a greater portion of the population, both male and female, are now more style conscious. As a multinational company chen one has been able to skimming the market with different size of cloths, gents, ladies and kids, international standard and high quality design, as a product. Chen one has been highly successful over the years. Overall with its marketing activities Chen one has been successful brand. Research shows that Pakistani customers are highly attracted to this sort of offers like discount, gifts and loyalty brand. That’s the reason Chen one in future will target the upper middle and middle class.
  13. 13. 12.Recommendations Chen one needs to increase the outlets all over the world and also Pakistan. Chen one should target the middle class. Chen one should increase their promotion through advertising, TV and internet. Product more emphasis has to be placed on promoting the product and increasing the brand awareness and brand recall rather than trying to modify a product this is already doing quite well as per expectation, objectives and targets set by the company. Long term suggestions are such that we feel Chen one should look more ideas as are available abroad.
  14. 14. 13.References 1. http://www.mbamarketingproject.blogspot.com/2010/05/chen-one-project.html 2. 3. www.chenonehome.com/products.php?category_id=53 4. www.chenone.com.pk/index.php?option=com_content&view

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