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Analysis of Expansion Opportunities in Premium Stationery Segment-ISB Hyd
1. An Analysis of
Expansion Opportunities in the
Premium Stationery Segment
TEAM PAPER-TIGERS
Aashish Agarwal
Prateek Bhargava
Ramnath Srinivasan
Ritesh Saurabh
Sahil Dhar Hakim
INDIAN SCHOOL OF BUSINESS
Eximius’12 – Level-Up : Round 1
2. Premium Stationery India : Key Trends
Growth Competition
• Growing segment @ 20-25% • High competition in India with global brands
• Untapped markets – potential market gains • Large players exist but industry still fragmented
• Low penetration in the segment at present • No presence of regional/local players
Customer
• Growing purchasing power of potential target customers
• Increase acceptance of premium segment amongst
customers
• Customers climbing up the Maslow’s hierarchy of
motivation to buy
• Aesthetic needs and esteem needs gaining priority
Category Awareness Present
Eximius’12 – Level-Up : Round 1 Customer Acceptance Moderate-High
3. Premium Stationery India : Industry Attractiveness
> This Segment is small part of the industry HIGH
> Retaliation from local/regional players > Low product loyalty
> Premium connotation with existing brands > Easy to switch brands
Bargaining Power > Miniscule percentage of their
> Intl players with strong brands
of Buyers spending budget
> Buying decision – style, snob
HIGH value, perception of others
about the brand
HIGH
> Substitutes available
Threat of Internal Barriers to
MID
Substitutes Entry
> Low switching costs Rivalry
> High growth rate
> High margins
> Medium capital
> High promotion costs
> Existing business – direct synergy Bargaining Power
> Sellers fragmented of Suppliers
> ITC a huge player = high bargaining power
LOW
Industry Attractiveness : Medium
Eximius’12 – Level-Up : Round 1
4. Consumer Insights : Demographic Trends
India’s middle class constitutes 50
million people at present. Likely to go up
to 583 million people by 2025
• Rising discretionary expenditure
• High probability for premium purchases
• Rise in the average household income
Households that can afford
discretionary spending likely to go up
from 8 million at present to 94 million
by 2025
Target Market
- Rising fastest amongst the world
- Huge potential to tap
Rising Discretionary Spending
Eximius’12 – Level-Up : Round 1 Young customer group growth
5. Consumer Insights : Segmentation Analysis
Segment Name Primary Need Characteristics Value Proposition Existing Options Willingness to Pay
Writing
Notebook
Instrument
21-30 Years Paperkraft,
Current Paperkraft Reasonably Differentiation from
60% Male BILT Matrix,
Target: priced academic stationery, < 500 INR < 600 INR
65% Single Nightingale,
Young Executives 'office' stationery. affordable price
MHI : 30-50k Parker
Announce having
30-40 Years
'arrived.'
Premium Office 90% Male 500-1200
Mid-level Executives Differentiate from Moleskine, Lamy < 1000 INR
Stationery 20% Single INR
lower executives. Look
MHI : 50-80k
for value.
> 40 Years Exhibit prestige and
Mont Blanc,
SME Owners/Mid- High-End Office 95% Male clear distinction from
William Penn, > 1500 INR > 1200 INR
Top Management Stationery 5% Single the rest. Little/No
Sheafer
MHI : > 90k Price sensitivity.
30-40 Years Announce having
Premium Office
Mid-level Female Female 'arrived,' but more Moleskine, 700-1100
Stationery with a <1100 INR
Executive 5% Single importantly as a Lamy INR
Feminist focus
MHI : 40-70k 'woman in business.'
Collect High-quality,
long-lasting product as
Archiving Foreign Collectible 30-60 Years an object depicting Local/Artisan grade
~1000 INR ~1000 INR
Tourists Stationery 65% Male the cultural memory items
of a tourist
destination.
Eximius’12 – Level-Up : Round 1 Accessible, Actionable Segments
6. a
Consumer Insights : Survey Findings
Frequency Corporate Gifting
How often do you buy stationery? What according to you would be an ideal corporate gift?
60% 50% 45%
50% 45%
50%
40%
35%
40%
30% 25%
30% 25% 25%
20% 15% 15%
20% 15% 15%
10% 10%
10%
5%
0% 0%
Once in 1 mo Once in 4 mo Once in 6 mo When I see Corporate Wear Gift/Meal Premium Decoratives
something I like Vouchers Stationery
Increase in Price Insensitive, Impulse Buying High Preference for Premium Stationery in Corporate
Point of Sale Premium Stationery – Purchase Motivators
Where do you usually buy your stationery from? What factors do you consider when buying Premium Stationery?
60%
52% 100%
90%
90%
50%
80%
40% 70%
30%
28% 60%
50% 42% 38%
40%
20% 14% 30% 25%
10% 6% 20% 13%
10%
0%
0%
Multibrand Gift Stationery Retail - Online Stationery Retail - Value Pricing Brand Customization Quality Availability
Store Modern Tradit.
Value Pricing is an important Purchase Criteria
Eximius’12 – Level-Up : Round 1 Value-Priced, Premium Stationery & Impulsive Buyers
7. a
Company Perspective : Strategy Analysis
Evaluate Market Re-write industry rules
Entire Leader’s functional to exploit a unique, SHIFT TO
Market approach and strengths industry-wide
advantage
Resegment the market Create and pursue a
Niche Market to create a niche unique advantage BEGIN WITH
Traditional New
Rules Rules
Emphasize on creating ‘Points of Difference’
Deliver on Latent Need to overcome reputed players
Eximius’12 – Level-Up : Round 1
8. a
Company Perspective : Strategy Execution
Focus on sustainability
Environmental stewardship
A Legacy of India >Current Target : Price Sensitive
Organization >Brand Connotation Established
Product
Emphasis >Different TG
>Low Price Expectation
Growing Segment Mid-Level
Synergies with Present Classmate Executive Price
Additional Revenue Paperkraft
Business Choose a Mid-Level
Opportunity Brand Executive - Female
<New Brand>
Archiving Place
Foreign Tourist
> Pricing Flexibility
Consumer >New TG
Promotion
Insights >No Brand Priors
Brand Conscious >New Target : Value Sensitive
Value Minded
New Indian
Eximius’12 – Level-Up : Round 1
9. a
Marketing Mix : The 4Ps
Product Place
Modern Retail In-Hotel Stores
Points of Parity Points of Differentiation
> Premium Gift Box > Distinct Design
> Smooth Writing > Value Pricing
> Polished Pen Appointments > Made in India tag
Product Line Online Retail Gift Certificates
-> Heritage Series -> Executive Series -> Woman of Today Series
Price Results of Conjoint Analysis using below Products
Airport Shops
Brand 1 Brand 2 Brand 3 Brand 4 Brand 5
Name Mont Blanc 'New' Lamy Parker Paperkraft
Price 3500 INR 1000 INR 2200 INR 1200 INR 600 INR
Body Metallic Metallic Metallic Metallic Non-Metallic
Weight Ultra Light Regular Light Regular Regular Promotion
8.5 Brand 2, 8.2 Promotion Outlay ~ 20% of Sales
8
7.5 Brand 4, 7.1
Television 5%
7 Brand 5, 6.3
6.5 Brand 3, 6.7
6 In-Store 15%
5.5
5
4.5
Brand 1, 5.3 Suggested Price Range INR 1000 - 1200 Print 40%
4
Direct
Brand 1 Brand 2 Brand 3 Brand 4 Brand 5 40%
Corporate Selling
Eximius’12 – Level-Up : Round 1 0% 10% 20% 30% 40% 50%