CULTURE’S INN

Handmade Bags

Presented To :

Ma'am Saleha Shoaib

Presented By :

• Tahmeena Batool

• Anum Zafar

• Safia Naseer

• Nouman Riaz

• Adnan Siddique

• Raja Saim Azad

• Ch. Asim Sattar

VISION AND MISSION

Vision

Our outlet will be the best outlet of hand made product firstly in Lahore and then in whole Pakistan

Mission

“We are here to satisfy your desire of “looking different”

Offering handmade bags

Form balance expectation level

Market Need

High need of Customization due to changing tastes of young girls.

Desire of look different.

Desirable product at affordable price

Market Trends and Growth

Bag market is changing due to:

Change in Taste

Change in Demand

Due to little emphasis on cultural values

Segmentation

Segmentation on Following Areas

Geographical segmentation

Demographical segmentation

Psychographic segmentation

Behavioral segmentation

Geographical Segmentation

Started in Lahore at Allam Iqbal Town, Dubai Chowk because

• City of schools and colleges

• Best possible area

• Entertainment Places like McDonald & Fri-chicks.

• Indirectly promotion of product.

Demographical Segmentation

• Target on the basis on income age gender and education

• Our target customer is women

• At the age of 14 -24

• Mostly professional and college and university going girls

Psychographic segmentation

Talk about lifestyle and personality of our customer

People are more self expressive

Try to look stylish and different

Want to create an image about their personality.

Behavioral segmentationTry to understand the minds of people when new product enter in the market.

First time user.

Identification of Target Market

First time users

Young girls average of age 14-24

Girls having pocket money of Rs. 3000/-

Families with a income of Rs. 25,000-50,000/-

Working women's

Micro Environment ( factor that effect company's ability to serve)

Suppliers• threads suppliers

• manufacturing supplier

Maintaining good relationship for

• effectiveness

• product availability

Customers• Brings changes in product time to time.

• Our aims is to satisfy customer.

• Help us for long term profitability.

Competitors• Karizmah

• Polly & me

• Stylo

• Metro

• Bags shop in moon market

we compete on basis of

• Uniqueness

• Product quality

• Reasonable prices.

Macro Environment(Forces that Shape Opportunities and Pose Threats to a Company)

• Economic EnvironmentMay change the income level of people it effect the purchasing power.

• Natural EnvironmentDue to natural disaster, shortage of raw material may occur it may change the input prices. Our business also not create any kind of natural pollution.

Macro Environment

Political EnvironmentIf a government will increases the taxes, then we have to

increase our prices to remain in profit or decrease our profit margin.

Cultural environmentBenefited by facing cultural environment because we are promoting the culture of Pakistan

DemographicsChanging lifestyle, age and living standards will benefit our business

Marketing Mix

(4 P’s)Product:

• offering handmade bags made up of Jutes, Seelam, Dorri, Resham and woolen etc.

• We add features like furs artificial flowers etc.

• We provide customization service as well as on the shelf availability of our product.

• Our product reflect our culture.

Price• Reasonable price

• We charge 750/bag

• If we provide customization service then we charge 850/bag

Place There are following reason for chosen this place

• People come for enjoyment and our product magnetize their attention

• Product awareness

Promotion • Activity that communicate the merits of our product

• Online promotion through face book

• E-mails

• Brochures

SWOT Analysis

Strengths

Weakness

Opportunity

Threats

Strengths

On the Shelf

Availability on the shelves at outlets along with free home delivery

Unique Product Features

Unique in design, color and style

Customization Service

Customized bags on the demand of the customers

Weakness

Trust gain

Entering in new market and less trust of customers

Unfavorable Conditions

Sudden strikes and other holidays cause supply late

Opportunity

Introducing New Products

Handmade bags for the first time in local market

Opening Outlets

Building a network of outlets all around the country

Exports

Export unique handmade bags to earn profit in foreign currency

Threats

Threat of Substitutes

Threats from Karizhma & Polly and Me and leather bag shops in Lahore.

Barriers to Entry and Exit

Threat of survival in the market

PostioningPositioning is heart of marketing strategies.

To develop positioning focus upon target market & competitors.

2000

1500

1050

950

Price 850

750

650

550

Quality Customization Design

Polly &

me Stylo

Culture’s

Inn

Karizhma

Metro

Market Differentiation

Low Price

Online Customization Service

Online Order placing

Introducing New Products

Latest Design

Hand Made

Branding

Culture’s Inn. is basically a corporate band.

Slogan

“Look Different”

Direct Competition

Karizhma

Polly and me

Both deals in handmade bags but their prices are too highand also offer less customization with no facility of onlinecustomization and home delivery service

Indirect Competition

Metro

Stylo

Small shops in Moon market

They deal in leather bags just with high prices.

Competitive Edge

Uniqueness

Available on shelves

Customization

Low prices

Value Preposition

Actual product

Their style, features, design and quality level will make them

different from others.

Augmented product

1 year warranty and after sales and service facility

Financial Objectives

Revenue

Earn min Rs. 60,000/- per month

Profitability

Work on weaker areas and increase profitability by cost cutting methods

Growth

Expect to grow 10% each year

Marketing Objectives

Creating a Cost Effective Marketing Plan

Sending press releases cause free publicity

Building Customer Awareness

Create awareness among public through media channel

Maintaining High Customer Satisfaction

Providing discounts, free home delivery and 1 year warranty

Viability of Culture’s Inn

What Viability is?

Capability of normal growth and development

Survey result • we conducted survey and it shows that 90% girls between age

14-24 are ready to pay for handmade bags. Means it increase our sales and make our business more profitable.

• Our cost of input is low because we are using low cost strategy and output is much higher

• We spend 3 lac 92 thousand and 2 hundred and 15 rupees and our minimum sales revenue per year is 7 lac 20 thousand.

• B.E.P= fixed cost/ variable price per un it – variable cost per unit

• Our break even per month is 50 bags and our minimum sales of bags per month is 80 bags.

• So this business is viable and much profitable

Break-even Analysis

Implementation

Gaining knowledge of target customers.

Develop our goals and objectives

Analysis of overall market and our competitors

Developing financial objectives

Developing marketing objectives

4P’s

Break-even point analysis

Customer Relation Management Plan

Corporate Social Responsibility

Outcomes of our implementations

Customer Relation Management

Training of employees for better customer services

Giving discounts

Resolve customers complaint within 2 days.

Free home delivery

Promotional offers in schools and colleges

Online customizing and ordering services

Research

Overview the needs of our customers

Market trend and growth

Competitors, government policies, rules and regulations

Research through questionnaires

Corporate Social Responsibilty

Donate Rs. 5/- to A Welfare Organization, Roshni Homes Trust who are striving to provide a home, family and education to the orphans.