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Project Report
On
Study of brand perceptions for Monte Carlo
Submitted to Punjab University In partial fulfillment of the requirements for the Degree of
Bachelors of Business Administration (BBA) 2008-09
Submitted to: Submitted by:Mrs. Pooja Mittal Rahul JoshiLect. in Business Admn. 15106000161
Kamala Lohtia Sanatan Dharam College
1
Ludhiana
Ludhiana-141003
2
This is to certify that the project work done on “Study of brand perception for
Monte Carlo” submitted to Kamala Lohtia Sanatan Dharam College, Ludhiana
by Rahul Joshi in partial fulfillment of the requirement for the award of degree
of Bachelors Of Business Administration, is a bonafide work carried out by him
under my supervision & guidance. This work has not been submitted anywhere
else for any other degree /diploma. The original work was carried during 10 th Jan
to 6th Feb 2009 in Oswal Woolen Mills Ltd, Sherpur road, Ludhiana.
06.02.2009
Mr. Pankaj Kumar General Manager- Retail Operation
Oswal Woolen Mills Ltd. G.T.Road, Near Sherpur Chowk Ludhiana-141003
Certificate
Guidance certificate
Mrs. Pooja Mittal gave the guidance without which this study wouldn’t have been possible to
complete in the stipulated time & the most efficient manner. Her time to time introspection was
just as a lightening a lamp which enlightened the total darkness of the mind & thoughts. She
motivated in true spirit & I express my gratitude for the same.
Rahul Joshi
3
PREFACE
In an institute a student learns about theoretical concepts.
But in this changing era scenario, environment surrounding the business is complex &
dynamic. Industries are so much diversified & specialized that it requires managers to be fully
nourished with knowledge & skills in their respective field of the specialization. Exposure is
the key in building good future managers.
The report presented here is a study of brand perception for Monte Carlo products. Monte
Carlo is one of the leading super brands in exclusive woolen hosiery garments. It is the first
domestic company in the country to receive prestigious ISO-9001:2000 certifications in
designing knitwear, manufacturing & supplying category.
4
ACKNOWLEDGEMENT
Every endeavor undertaken to accomplish challenging goals, can only be successful under the
experience and encouraging guidance.
I take the profound privilege to express most sincere gratitude & indebtness to all those who
provided me the opportunity to do the project in their esteemed organization. I owe debt of
gratitude for them for the valuable guidance in the course of my project study. It has been
an immense pleasure and enlightening to work under them for their timely assistance &
valuable suggestion through fruitful discussions.
My inexpressible gratitude is to the supreme guide who enables me to
bring up my ideas into the concrete forms. I express my sincerest thanks to Mrs. Pooja
Mittal for inspiring me in the development of my project.
I sincerely express my sincere gratitude to Mr. Rajesh Marwaha my faculty
guide who gave me the guidance and supervision throughout my project. I will be grateful
to my seniors for their suggestions for further improvement.
Rahul Joshi
5
Table of Contents
1) Introduction
2) Purpose of study
3) Objectives
4) Scope of study
5) History
6) Company profile
7) Research methodology
8) Observation & analysis
9) Interpretations
10) Conclusion
11) Limitations
12) Recommendations
13) Appendix
14) Bibliography
15) Appendix
6
INTRODUCTION-LUDHIANA
Ludhiana is an important knitwear centre located in north state of Punjab. It has an area of
about 310 sq km with city area at over 160 sq km and industrial area at 140 sq km .The city
stands on the Satluj River’s old bank, 13 km south of its present course. Ludhiana City had a
population of 1,395,053.
Ludhiana is known as the "Manchester of India" because it is the industrial hub of Punjab.
There are 8 large integrated knitwear factories, roughly 6,000 small to medium sized knitwear
factories, 10 big hosiery yarn mills and 150 small- to medium-sized worsted and woolen yarns.
There are also firms manufacturing bicycles (Avon Bicycles, Hero Cycles Ltd), Eastman,
Trident group motorcycle parts, machine tools, sewing machines, generators, diesel engines,
tires & tubes, Ayurvedic Medicines and also other consumer goods. The export market in
Ludhiana is worth $40 million USD.
Ludhiana is becoming a hub of auto parts manufacturing. Ludhiana is home to world renowned
educational institutes Punjab Agriculture University, Guru Nanak Dev Engineering College,
Dayanand medical college, Christian medical college, Baba Jaswant Singh dental college and
multiple Engineering institutes.
Ludhiana City is famous for the textiles and woolen industry. City is known as the woolen hub
for all over India. Monte Carlo, Duke and OWM are one of the famous brand names in woolen.
Some share of its woolen production is exported to all over the world. Quality of textile and
woolen product manufactured in Ludhiana is world class. Besides Cycle and woolen industry,
Ludhiana is also a major centre for sewing machines and cast iron & for other foundry
materials. Due to its industry potential Ludhiana has a sweet blend of mixture of so many
Indian cultures.
History
7
Knitwear industry
The word ‘knitwear’ is derived from the word ‘hose’ which means tubular that describes the
shape in which the fabric was knitted, especially for socks. The first Woolen knitwear unit was
probably established in the last decade of the nineteenth century (maybe 1894) in Ludhiana for
manufacturing socks. Woolen hosiery was born in 1902-03 with a socks unit to cater to
soldiers during world war -I & II.
Its origin can be traced to migrants from Kashmir, who settled in Ludhiana after a famine in
Kashmir in 1933. These migrants brought with them skill of weave fine woollen fabrics and
embroidery. Their skills were commercialized by the local traders
who sought markets within Punjab and beyond? In 1935, the industry saw its first change with
circular knitting machines introduced in the industry. They started manufacturing sweaters on
these machines with cotton used as raw material. The
Second turning point in the history of this cluster was the introduction of flat knitting machines
during 1940s and during the same period, the industry started importing
wool for manufacturing woolen products.
The Ludhiana knitwear industry cluster developed during the second world war, when the
woolen jerseys were in great demand. In 1947 the Muslim population that migrated to Pakistan
after partition, owned most of the machines so then the local
population and the immigrants from Pakistan sustained this industry. Trade grew smoothly for
next four decades.
Myanmar was a very important market for Ludhiana knitwear till the 1950 i.e. before
Myanmar Government imposed import restrictions. In the same year the Government of India
also imposed restriction on imports and most of the inputs i.e.
machines, needles etc at that time were being imported. The import restriction thus fostered
development of indigenous machine manufacturers, spinning mills etc. Before the breakup of
Russia into CIS, it was the largest market for the woolens in Ludhiana. The breaking up of
Russia forced Ludhiana to explore for new markets .During the period of 1980s; the industry
8
saw another change with introduction of automatic and computerised knitting machines. The
disintegration of USSR in 1980 was a major debacle in Ludhiana market. The focus of exports
shifted from USSR to European Union, USA & Latin American countries, demanding shift in
the business entrepreneurship. The export to these countries demanded skilled human resource,
to maintain quality standards & timely delivery.
During 1981, the state government had set up a knitwear center with technical and financial
assistance from UNDP and UNIDO, housing the most modern technology and equipment. The
collapse of Russian market resulted in a major shakeout in the industry and several leading
manufacturers were forced out of business altogether. This paradigm shift eventually resulted
in Ludhiana becoming more of a cotton & summer wear manufacturing centre, while retaining
its dominance in the domestic woolen market.
Now there are almost 14000 units manufacturing knitwear and knitted garments .It has units
which are vertically integrated, ISO certifications, & units with wool mark certification. These
are capable of producing products worth of RS 400 million providing
employment to nearly 4, 00,000 persons. There are about 550 export oriented units which
manufacture products for the world famous brands like ADIDAS, NIKE,. The woollen hosiery
of Ludhiana caters to 90% of the total requirement of woollen products in the country. The
leading brands which originate from Ludhiana are MONTE CARLO, CASABLANCA, and
PRINGLE etc.
Ludhiana has seen an enormous industrial growth in the last 8 years due to significant
improvements in the law and order situation and a conducive atmosphere for industrial growth.
In order to attract the entrepreneurs to set industries, the State
Government is providing benefits such as industrial parks and industrial estates as focal points.
Although it is a highly labour intensive industry yet there is no systematic approach for
providing training to the work force.
The importance of the Ludhiana knitwear cluster is evident from the following facts:
There are about 12000 small-scale units in the Ludhiana cluster
9
The total fixed investment in plant and machinery is Rs 300crores
Per capita investment in plant and machinery is Rs. 2.13 lakh
The cluster is producing products worth Rs 5000 crores in a year.
The cluster provides direct and indirect employment to nearly 5 lakh persons
Per capita employment is 28 persons
The value of exports is around Rs 1300crores
Knitwear exports from Ludhiana has been growing at the rate of 25% since 1995
Its share in total garment exports from India is around 3%
More than 90% of woolen knitwear production of the country is from Ludhiana
This sector comprises of some big organised composite manufacturers like Oswal Woollen
Mills, Oswal Knit India (Pringle), Greatway, R N Oswal, Pee Jay International etc. that have a
capacity of 0.5 – 1.0 million pieces each. The small-scale units are engaged in various
activities like spinning of yarn, dyeing and processing of yarn & fabric, knitting, cutting,
button holing button stitching, washing and dry cleaning and label manufacturing.
The deep rooted knitwear industry in Ludhiana consists of both circular and flat bed knitting
capacity. Structured knits, jacquards and fancy knits are especially from this centre. Auto
stripers, velour & feeder stripers are other available options. Cotton, acrylics, rayon blends &
woolen knitwear production is facilitated by an easy access to yarn production in the same
region. The overall technological status is very low barring a few enterprises. The machinery
and equipments are locally manufactured and are low in efficiency and quality. The dyeing and
finishing technology is highly polluting and consumes high amounts of energy and water.
The knitwear industry of Ludhiana which has emerged as the largest self-sufficient sector in
itself and has a huge potential of maturing into an eminent industrial name. Considering the
size and potential of the Ludhiana knitwear industry, it can be
safely said that it will have a significant role to play in the changing global trading
environment. It is therefore high time for the industry to become globally competitive and to
make concentrated efforts.
Hosiery industry of Ludhiana
10
Ludhiana is a leading industrial town of the north Indian State of Punjab and an important
center of textile and allied industry. More or less it accounts for about 21 percent of all
industrial units and over 28% of the industrial output of the State of Punjab. It is famous for
Bicycle & bicycle components industries, ready-made garments, hosiery items, sewing
machines and parts & machine tools.
Ludhiana is a leading producer of woolen and acrylic knitwear, although it also uses
extensively cotton and other blended fibers to produce a wide range of fabrics, hosiery,
knitwear and ready-made garments. The industry caters largely to the domestic market,
although it has also been exporting for nearly a century. Consisting of both registered and
unregistered units, almost 99% of the ready-made garments, textiles and hosiery industry in
Ludhiana are small scale. Apart from these, there are a large number of ancillary and
supporting units that manufacture packing material, printed labels, buttons, etc as also
Spinning, Dyeing and Embroidery units.
Historically, the domestic market has been the main consumer of textile and garment industry’s
products and it has been growing significantly in recent years as income levels among India’s
middle class go up and fashion conscious young adult consumers increase. Exports from
Ludhiana based garment and hosiery units have generally been around 10% of the total
production. Main export markets – till early 1990s, it was former USSR and Middle East and
now in recent years it has expanded to other markets in Europe and USA. Punjab exported
ready-made garments and hosiery worth about Rs. 1312 crores in the year 2004, which went up
to Rs. 1618 crores by March 2005.
Features of textile industry
11
The textiles, hosiery & readymade garments manufacturing can be divided into two groups –
hosiery & ready-made garments & textiles. The hosiery and garments sector is much more
labour intensive, small scale, employing 5-40 workers per unit. One of the reasons for this is
the methods of production and machinery used which is largely manual operated.
Most of the units (in hosiery, garments, dyeing or embroidery sector) are located in the
residential areas. Only some large units are based in the Government promoted industrial
estates. Most firms are owner-proprietor managed rather than professionally managed.
Working hours in the factories generally are for 10-12 hours a day, 6 days a week. Majority of
the industry is producing low value items, with low productivity and low quality generally,
using traditional, locally manufactured and fabricated machinery.
Main machinery used are – hand flat knitting machines, circular knitting machines and
imported reconditioned knitting machines (second had machines); Knitwear is stitched on
multi-thread lock-stitch, chain lock, flat-lock and over-lock machines which are either
manufactured domestically or imported.The industry uses both natural fibres/yarns – cotton,
silk, jute & wool and man made fibres such as polyester, viscose, nylon, acrylic and blended
fibres. Proper blended yarn of the required quality is often not available at reasonable price.
The industry produces wide range of winter and summer wear - T-Shirts, Pullovers, Cardigans
in all blends, Jogging suits, Socks, Jersey, Gloves, Shawls, Sweat Shirts, other inner wear, grey
fabric, etc. Ludhiana also supplies fabric to units in Tirupur and other garment centers.It
appears that Ludhiana’s industry does not have its own designing facilities and neither does it
employ computer-aided designing/manufacturing. Designs for clothes for the domestic market
are generally copied from the magazines, etc or samples provided by the buyers. Embroidery,
patchwork, printing and beadwork are done with indigenous machinery and the quality of
embroidery is not up to the standards acceptable in international markets.
Analysis of Business operations
12
Product
The Ludhiana knitwear industry is a well-diversified industry. Product-wise it can be divided
into two main sectors i.e. summer wear and winter wear. The main product for winter wear are
sweaters, woolen socks, pullovers, cardigans, thermal wear, gloves, muffler, baret caps,
shawls, jackets, jersey, and blankets, while for the summer wear the main product are T-shirts,
cotton and blended socks, under garments, knitted bed sheet, knitted skirts, knitted tops, sports
wear, night suits etc.
Semiformal knitted made from double mercerized cottons blended with viscose and bed linen
made for summer wear also fall into product basket of the Ludhiana cluster.
Raw material
Most of the raw material is locally available. Cotton, Wool, Acrylic, Polyester, Nylon and
Viscose is the main raw material used in the knitwear industry.Cotton is available in
abundance.But due to poor quality of Indian wool, generally the pure wool is imported from
Australia, New Zealand or South Africa. Other synthetic fibres like Acrylic, Polyester, Nylon
and Viscose are available indigenously.
Machines
Ludhiana has about 4000 circular knitting machines out of which 1500 are fully automatic.
There are about 500 flat computerized, 120 fully fashion and 50 to 60 thousand hand flat
knitting machines.
Workforce
The Ludhiana knitwear industry is highly labour-intensive. It is estimated that the Industry has
employed 5lakh persons. Out of which, more then 2lakh are employed indirectly. Technical
workforce is available but technical inputs are given by the entrepreneur themselves who have
practical industry experience and better knowledge gained by secondary sources. This is the
reason why training levels are negligible in the cluster. The salary levels are low and despite
the availability of professionals, their employment is very limited. There is a lack of
13
professional attitude amongst the managers and is being taken care of by unit level training
programmes.
Designing
Professionally qualified as well as experienced designers are available in the industry. Local
institutes like Pinnacle, JD Institute and NIFD are serving the industry actively. But still
Ludhiana is lacking in new designs because of no efforts being put on research & development.
The big ones, who are interested in keeping themselves with latest trends visit nearby countries
like Hong-Kong and Singapore to pick up some of the latest available samples. These are then
modified to suit the needs of domestic market as well as that of some developing countries for
exports.
Infrastructure
Ludhiana is very poor as far as infrastructure facilities are concerned. The only airport, which
is near to Ludhiana is not functional at the moment and it is required to increase its status from
domestic to international airport.
Finance
Most of the units are financially independent with a strong base. Loans are easily available
from banks and other financial institutions but preference is given to private financiers who
provide loans at a higher rate. This is largely to hide the illegal business transactions.
Marketing
Marketing is a very weak feature of the Ludhiana cluster. There are a few firms who are selling
directly through their own retail outlets such as Duke, Sport king or through marketing
channels such as Monte Carlo, Pringle, Neva etc.
Domestic market
14
Ludhiana knitwear industry is doing Rs.3629 crores business in the domestic market. 95%
domestic demand for woolen knitwear is fulfilled by the Ludhiana cluster alone. The main
markets for Ludhiana knitwear industry are high-end domestic markets in Delhi, Ahmedabad,
Mumbai, Lucknow and Kanpur.
Export market
The global knitwear market is of about 200 billion USD. Export of knitwear from Ludhiana is
of about Rs.1371 crores. The main foreign markets for Ludhiana knitwear industry are the high
quality conscious Americans, Europeans and the market of the CIS countries. An important
feature of the knitwear export from Ludhiana is that almost 90% of export is carried out by the
manufacturer exporters.
Role of marketing agents
Marketing agents are basically catering to the requirements of the domestic markets, both high-
end and low-end middle-income segments. They provide two kinds of important services to the
entrepreneurs; firstly they source orders from distant buyers and secondly they serve as a
guarantor of the buyer for the manufactures. They are responsible for collection of money from
the buyers after expiry of credit limit.
Decentralized sector
The knitwear industry in Ludhiana is highly decentralized & varies in size.The small knitwear
units are located in residential areas around Sunder Nagar, Shivpuri, Purana Bazar.The
medium and large units are generally located in the outskirts of Ludhiana in the Industrial
Area, Focal Point, and Chandigarh road. Most of the units are based in the residential areas
converted into commercial places.
15
IntroductionOswal Woollen Mills Limited
A flagship company of the glorious Rs.2000 crore industrial conglomerates NAHAR group, under the dynamic leadership of SHRI JAWAHAR LAL OSWAL.
Oswal Woollen Mills Limited (OWM), the flagship company of the Nahar Group of
Companies was incorporated in 1949 and is a part of Rs.19, 000 million well known industrial
conglomerates Nahar Group which also consists of Nahar Spinning Ltd, Nahar Industrial
Enterprises Limited, Nahar Exports Ltd and Nahar Capital & Financial Services Limited based
at Ludhiana in Punjab. The Group is one of the oldest and well-recognized business houses in
India.
The Company is one of the pioneers in the organized Indian woollen hosiery industry. OWM
made modest beginning as a manufacturer of hosiery items and over the years has emerged as a
16
vertically integrated woollen textile company having presence in diverse markets, with wide
range of products including branded woollen hosiery and cotton garments.
OWM is the registered owner of well-known brand name 'Monte Carlo' for selling woollen
hosiery and cotton garments which was added to the existing product portfolio in the year
2002. International Society for Super brands has recognized 'Monte Carlo' as a 'SUPER
BRAND' for woolen hosiery garments since fiscal 2003. The products in woolen hosiery
segment are also sold under the brand names of 'Canterbury' for premium quality woollen
hosiery garments while the specialty worsted woolen yarns and hand knitting yarns are sold
under the brand name of 'OWM'. Since March 2006, the company has started manufacture of
indigo dyed specialty denim fabric, which has added to the existing range of rich product
portfolios.
The Company has been certified to conform to the QMS Standard: ISO 9001:2000 by DNV
Certification B.V., Netherlands for the manufacture and supply of dyed and grey tops and yarn
in worsted wool, pure wool, lamb wool, acrylic wool blends and polyester wool blends and
angora, berthia and serge fabrics.
The Company endeavors to strengthen its position in the in the retail sector and it plans to
further augment its existing reach of 'Monte Carlo Exclusive Brand Outlets' by opening
additional 106 outlets by Fiscal 2009 from the existing 44 outlets as of now. Further, OWM is
contemplating selling denim fabrics to ready-made denim garment manufactures in domestic
and international market. From 2007 autumn and winter season, The Company would start
production and marketing of fine micron pure merino blended knitted products for children in
the age group of one to eight years for the Indian domestic market.
17
Nahar GroupAt NAHAR, “Excellence is always an
Ongoing journey- never destination.”
In 1949,a humble beginning was made under the foresight of Lala Vidya Sagar Ji, with
spinning capacity of 800 spindles; manufacturing simple hosiery items.
Oswal Woolen Mills NAHAR GROUP established in 1949 surges ahead to establish it self
as a reputed industrial conglomerate with a wide ranging portfolio from Worsted Spinning,
Cotton Knitted, and Cotton Woven Garments, Woollen Hosiery Etc.
The group has spinning capacity of 0.4 millions cotton spindles 25000 worsted spindles with
turn over of $500 million inclusive of export turnover of $150 million. Out of total
production, 60% of the production is dedicated to exports and the rest 40% for
domestic market. The production facility has been awarded ISO 9001:2000.
Today OWM is the flagship company of the glorious Nahar Empire and a proud owner of
widely loved Super Brand in Knitwear, Monte Carlo and Recognized Super Brand
Canterbury. The company boasts of a product portfolio that is truly large and varied. They
include diverse types of Woollen, Acrylic and Synthetic Blended Yarns, Lambs Wool Yarn.
The markets of NAHAR GROUP are cris crossed allover the globe with major clientele in
Australia, New Zealand, Europe, Middle East, Africa, Russia and Asia. The objective is
meeting the buyers expectations with consistent quality backed by R & D divisions equipped
with latest equipment, Cream of highly qualified technocrats and adhering to timely schedules.
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OWM-A mark of integrity
Today Oswal Woolen Mills LTD. is a company that owes its strength in the market and
solidity to foresight of its chairman Sh. Jawahar Lal Oswal, the professional inputs of the
board of directors and able to team of highly skilled mangers Oswal woollen mills is the
flagship company of over US$500 millions NAHAR GROUP OF COMPANIES.
Oswal Woollen Mills (OWM) is the flagship company of the Rs 2,000 crore Nahar Group,
which is an industrial conglomerate with a diversified portfolio that includes spinning,
knitting, fabric processing, hosiery garments, knitwear and infrastructure. Starting off as a
small hosiery factory in Ludhiana in 1949. It produces a wide range of products, which
include diverse type of woollen acrylic, synthetic blend yarns, lamb wool yarn, woollen
viscose and acrylic tops, textile fabric, woollen hosiery, thermals, knitwear and cotton
Garments.
The Company’s infrastructural base includes six factories with a workforce of 10,000
people. OWM has recently become the first domestic company in the country to receive the
prestigious ISO- 9001-2000 certification in the designing, knitwear, manufacturing and
supplying category.
19
Brands offered by
OWM
Monte Carlo- super brand in exclusive woollen hosiery garments.
Canterbury- premium quality woollen hosiery garments.
OWM- worsted woollen yarns & hand knitting yarns.
Achievements
20
It is the first domestic company in the country to receive the prestigious ISO-
9001:2000 certification in the designing knitwear, manufacturing and supplying
category.
First domestic company in India to deploy SAP solutions in retail sector.
Oswal Spinning Mills
(Garment manufacturer)
21
Oswal Woollen Mills NAHAR GROUP, established in 1949 surges ahead to establish it self as
a reputed industrial conglomerate with a wide ranging portfolio from Spinning, Knitting,
Fabric, Hosiery Garments etc. Out of total production, 60% of the production is dedicated to
exports and the rest 40% for domestic market.
The production facility has been awarded ISO 9001:2000. OWM is the flagship company of
the glorious Oswal Empire and a proud owner of widely loved Super Brands in Knitwear,
22
Monte Carlo and Canterbury. The company boasts of a product range that is truly large and
varied. They include diverse types of Woollen, Acrylic and Synthetic Blended Yarns, Lambs
Wool Yarn, Woollen Viscose & Acrylic Tops, Textile Fabric, Woollen Knitwear, Hosiery &
Cotton Garments.
The knitting industry in India can be classified into following groups:
Hosiery knitting for undergarments
Flat knitting for sweaters and winter garments
Socks knitting for socks and stockings
Warp knitting for dresses, furnishings and industrial applications
In the recent times, knitting sector has undergone enormous modifications that have
resulted in an increase in efficiency, ease of operations, use of computer aided designing etc.
The various reasons for the growth of knitting industry are as follows:
The capital investment for starting a new knitting unit is relatively small than that required
for other fabric producing industries. High productivity and very low preparatory process
as compared to weaving. More flexible and easy changeover of styles and designs to keep
up with the frequent fashion changes in apparel market. Knitted fabrics are comfortable and
are in tune with the time. Knitwear doesn’t require ironing and thus it gives people a
carefree feeling while traveling etc.
Significance of knitwearIn
23
garment industry
The survival of knitwear industry depends on the survival of the garment industry. At present,
the knitwear industry has only 43% share in volume of garment industry but the same is
increasing at a very fast rate due to the comfort properties of knitted garments. As on 1January,
2002, there were 50,000 units in India engaged in garment manufacturing, of which 9600 were
in the knitted sector and 40,400 in the woven sector.
MONTE CARLO---“The way you make me feel”
24
Branding done in 1984.
International society for Super brands has recognized ‘Monte Carlo’ as a Super brand
for woollen hosiery items.
The best exhibited product from the International Wool Secretariat.
Ranked as number one woollen brand in the country by a survey conducted by Images
–ORG-MARG.
E.B.O.’s- Exclusive Brand Outlets- 65
M.B.O.’s-Multi Brand Outlets- 65
Product portfolio
25
Men’s Fashion -
26
Shirts & Trousers
T-shirts
Pullovers & Cardigans
Jackets & Formal coats
Tracksuits
Thermals
Mufflers & Caps
Lowers & shorts
27
Women’s Fashion -
28
Pullovers & Cardigans
Jackets & Formal coats
Tracksuits
Thermals
Mufflers & Caps
Lowers & shorts
30
Children’s Fashion
Sweaters
Thermals
31
MC in India
Monte Carlo India - Mens Fashion, Formal Office & Fashion Shirts, T-shirts, Jackets,
Womens Cardigans & Sweaters
Over the years, Monte Carlo has established itself as a brand name trusted world-wide for its
excellence in quality and eminence. Some of our products include sweaters, cardigans,
cardigan sweaters, Mens pullovers, T-shirts, trouser, shorts, Womens cardigan sweaters &
womens sweater.
All our clothes are designed in a manner to give our customers the ultimate feeling of comfort
and ecstasy. Our collections also includes a wide range of thermals and track suits India.
In our compilation of exquisite clothing and qualitative attires we have variety of jackets like
Womens jackets, sleeveless jackets, Mens jackets & Shirts like fashion shirts, formal shirts,
office shirts & wholesale shirts etc.
“Dress up by the ways of world & eat what you please”
32
Canterbury
Monte Carlo’s Canterbury is a premium brand that delivers elegance, soft luxury and creativity
in intrinsic patterns and styles for those who settle for nothing but the best. The collection
liberally uses superior quality of pure cash wool in fine count of eighteen micron. This makes
the woollens lightweight and extremely warm. These garments have an excellent hand feel,
drape gracefully and fit perfectly on all body types. The Canterbury collection this season
has introduced pullovers and cardigans in 100 % pure cashmere wool for both men and
women.
The exciting Canterbury range has exclusive designs that come in unique colour combinations.
The designs comprises of intarsia - classic argyles (diamonds shapes) and
patterns of checks. Single colour self structure with links and transfers. The collection is
available in fusion of urban neutral colours with a predominance of shades in blues, in
evergreen greys, the elegance of beiges and brown, dull blues and the bright hues of turquoise.
The fall winter 2006-07 collection has more than seventy designs on offer forits customers.
33
“Exclusively knitted from pure imported from Australia, fine micron-19.5, elite design and incredibly warm.”
Life Unbound
Lush green fields glistening with hope. Vibrant flowers blushing in love. Trees throwing up
their winding arms in joy. As a soft breeze hums a soulful melody. And chattering birds liven
up the world. Rejoice! Summers are here!
Shed the many layers that restrained your free spirit. The shriveled and shivering winter
months are history. Say hello to bright, cheerful days. Say hello to the liveliest of hues. Say
hello to the season of gay abandon. Say hello to the season of the sun.
Life is born anew. And it’s going to have a blast. Join the fun, add to the colours of the season
and let your hair down. Reach out to the world and become a part of the celebrations. With the
cool new Spring Summer collection of Monte Carlo. Clothes that breathe. Clothes that weave a
story. Clothes that let you be free. So live your life to the lees. Because now is when all the
fetters are broken and free of all cares, life blossoms.
And this is your chance to catch life unbound!
34
Monte Carlo Winter Collection 07
Let us love winter, for it is the spring of genius
Like the warmth of the winter sun,
The closeness with that loved one,
The comfort of being secure,
In love with life…
Presenting the Monte Carlo winter collection. A delightful collection of pullovers, cardigans
and jackets. Designed to perfection, feel the warmth of pure wool designs. Crafted with care,
the Monte Carlo winter collection. For love is a beautiful winter that never ends…
Monte Carlo. It’s the way you make me feel
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Alpha
Women are a miracle of divine contradictions
Looks that kill
Eyes that tempt the sagest hearts
Every man’s fantasy
The Alpha woman… god’s own mystery masterpiece.
Presenting the Alpha woman collection from Monte Carlo. A scintillating collection of coats,
cardigans and pullovers. Designed to suit that woman who takes charge…
Outerwear
How glorious a greeting the sun gives the mountains!
Mother Nature. Touch her horizons. Explore the landscapes. In style. Presenting the Monte
Carlo outerwear collection. An exciting new range of jackets, polos and sweatshirts. Trendy,
attractive, elegant and classy. A style for every occasion. Designed to make you feel one with
nature.
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Monte Carlo Trousers
At Monte Carlo we offer more:
A perfect timeless look which shines you apart from the crowd. A perfect blend of premium
fibers which gives the Monte Carlo trouser a uniqueness of its own.
In the season we present you a complete range of classy chinos, edgy linens, premium cotton
lends bio-polished for a peach skin finish will give an extra smooth feel. The enzyme and
silicon in these trousers makes the fabric extremely soft ideal and anti crush makes you feel
beginning the day even at the end. A complete gracious range which starts from Rs 725 – Rs
1495.
This season Monte Carlo has introduced its new OXY RICH Wrinkle free Chinos (trousers).
which is high D-P rating (Durable press) rating 4-5 with state of the art resin spray technology
treated with cellulose to give extra softness and lustre.
Bio polished for a soft and luxuriant hand feel anti crush to make the trouser look fresh after
wearing the whole day.
For sporty look there are multi pocket cargos with different washes. And the Cargo range for
men comprises of multi pocket cargos with detailing of snaps, Velcro’s and zippers. Garments
are treated with ultra enzyme wash and softeners to provide a trendy washed look and soft
hand to the garment to
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Wool used in MC
Body hair of sheep
Diameter of fibers expressed in microns
Lesser the microns, finer is the quality of wool
Other animal hair available- camel, angora, cashmere, mohair etc.
Symbol of purity- woolmark
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REVIEW OF LITERATURE
Stephen Bush (2008) Commercial borrowers sometimes overlook short-term options for
commercial loans. In the current recessionary conditions, it is wise to explore all working
capital management options. This article will shed some light on shorter-term choices such as
short-term commercial mortgages and business cash advances. Due to misunderstandings
about long-term commercial financing, short-term commercial loans are often not considered
properly. Although long-term commercial real estate financing options are often appropriate,
there are practical short-term business financing choices that will be more workable and
profitable for commercial borrowers. The most critical short-term commercial financing
techniques typically include short-term merchant cash advance and credit card processing
programs and commercial real estate loan programs. Both working capital funding approaches
are frequently a source of confusion for business owners.
Bebehuk L., and L. stole (2009) Working capital is the cash needed to carry on operations
during the cash conversion cycle, i.e. the days from paying for raw materials to collecting cash
from customers. Raw materials and operating supplies must be bought and stored to ensure
uninterrupted production. Wages, salaries, utility charges and other incidentals must be paid
for converting the materials into finished products. Customers must be allowed a credit period
that is standard in the business. Only at the end of this cycle does cash flow in again.
Allensius (2009) there will usually be only a few business financing sources that are regularly
successful at executing the credit card financing and processing. There are key difficulties to
avoid with a working capital advance, and selecting an effective funding source is essential to
an appropriate business cash advance program. A long-term commercial mortgage is
appropriate for many businesses that own commercial property. Commercial property should
be financed with an appropriate combination of short-term and long-term funding. It is wise to
consider long-term Business financing of up to 30 years when a longer-term commercial real
estate loan is feasible.
39
Gamble, Richard H. (2005) Working capital management (WCM) is a holistic approach to
managing capital that can increase a company's cash flow and operational profits, but has yet to
receive widespread acceptance. WCM is unlike traditional cash management with its emphasis
on float and collection and disbursement programs. WCM addresses the full time-line from
raw material to payment, and strives to free capital wherever possible. Just-in-time inventory
management is a good example of WCM. WCM runs counter to the standard divisional lines
around which most companies are organized; its acceptance may increase, however, as US
businesses strive to become more efficient and competitive, and as financial professionals
grow, learn, and assume greater responsibilities for their companies' futures.
Dittmar, A. and J. Mahrt, 2005 Working capital management is important part in firm
financial management decision. An optimal working capital management is expected to
contribute positively to the creation of firm value. To reach optimal working capital
management firm manager should control the tradeoff between profitability and liquidity
accurately. The purpose of this study is to investigate the relationship between working capital
management and firm profitability. Cash conversion cycle is used as measure of working
capital management. This study is used panel data of 1628 firm-year for the period of 1996-
2006 that consist of six different economic sectors which are listed in Bursa Malaysia. The
coefficient results of Pooled OLS regression analysis provide a strong negative significant
relationship between cash conversion cycle and firm profitability. This reveals that reducing
cash conversion period results to profitability increase. Thus, in purpose to create shareholder
value, firm manager should concern on shorten of cash conversion cycle till accomplish
optimal level.
Beneda, Nancy, Zhang, Yilei 2006 the current study contributes to the literature by examining
impact of working capital management on the operating performance and growth of new
public companies. The study also sheds light on the relationship of working capital with debt
level, firm risk, and industry. Using a sample of initial public offerings (IPO's), the study finds
a significant positive association between higher levels of accounts receivable and operating
performance. The study further finds that maintaining control (i.e. lower amounts) over levels
40
of cash and securities, inventory, fixed assets, and accounts payables appears to be associated
with higher operating performance, as well. We find that IPO firms which are experiencing
unusually high growth tend not to perform as well as those with low to moderate growth.
Further firms which are experiencing high growth tend to hold higher levels of cash and
securities, inventory, fixed assets, and accounts payables. These findings tend to suggest that
firms are willing to sacrifice performance (accept low or negative operating returns) to increase
their growth levels. The higher level of growth is also associated with higher operating and
financial risk. The findings of this study suggest that perhaps IPO firms should stay more
focused on their operating performance than on maintaining high growth levels.
James Michael Wahlen 08 In this paper we review the academic evidence on earnings
management and its implications for accounting standard setters and regulators. We structure
our review around questions likely to be of interest to standard setters. Specifically, we review
the empirical evidence on which particular accruals are used to manage earnings, the
magnitude and frequency of any earnings management, and whether earnings management
affects resource allocation in the economy. Our review identifies a number of important
opportunities for future research on earnings management.
D'Attilio, David F. Net working capital forecasts play a vital role in cash flow projections.
Care should be taken to create accurate projections of net workingcapital, defined as current
assets minus current liabilities, by avoiding errors in financial data. Analysis reveals that small
differences in asset/liability reports can cause significant distortions in working capital
forecasts. In order to achieve reliable forecasts, it is necessary to adopt a combination of macro
and micro approaches which have been proven to produce reasonably accurate data.
Neung Kim, Kyungho Kim The three best macro-economic indicators for 24 various
industries are identified using E.I. Altman's Z-score. The Altman's Z-score is used to measure
overall business financial conditions. These are the prime bank rate, the three-month US
Treasury Bill rate and the corporate AAA bond rate. The three variables are found to be
relevant predictors for business financial conditions since they have highly negative
correlations with Z-scores.
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NEED FOR STUDY
The basic need for the study is to get practical experience about the functional abilities of the
organization. The different stages as discussed in the study reveals that the organization needs
more organized & professional people at all levels to get better results. Although the
establishment has a big name but the environment was not upto international standards which
is the need of modern era for any professional organization that is possible only when the
organization has professionally qualified staff.
OBJECTIVES OF STUDY
To study the awareness about the brand Monte Carlo.
To know the tastes & preferences of consumer regarding the style, quality & design of
Monte Carlo products.
To study the brand perceptions for Monte Carlo.
To analyse the satisfaction level of consumers offered by Monte Carlo.
To know consumers expectations from Monte Carlo products.
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SCOPE OF OBJECTIVES
Since the organization has the ability to compete international market so it needs more
scientific system to achieve that goal & the basic objective should be to follow the
international standard which can be achieved through qualified professionals making quality
management system.
RESEARCH METHODOLOGY
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The word Research is derived from the Latin word meaning to know. It is a systematic and a
replicable process which identifies and defines problems, within specified boundaries. It
employs well designed method to collect the data and analyses the results. It disseminates the
findings to contribute to generalize able knowledge.
Methodology can properly refer to the theoretical analysis of the methods appropriate to a field
of study or to the body of methods and principles particular to a branch of knowledge. In this
sense, one may speak of objections to the methodology of a geographic survey (that is,
objections dealing with the appropriateness of the methods used) or of the methodology of
modern cognitive psychology (that is, the principles and practices that underlie research in the
field).
In recent years, however, methodology has been increasingly used, as a pretentious substitute
for method in scientific and technical contexts. This means, “pertaining to methods”.
Research methodology is a way to systematically solve the research problems.When we talk
about research methodology we not only talk about research methods but also about the logic
behind the method used in the context of our research that’s why our research results are
capable of being evaluated either by researcher himself or by others.
The purpose of this section is to describe the methodology carried out to complete the work.the
methodology plays a dominant role in any research work. The effectiveness of any research
work depends upon the correctness of the research methodology.
In my project work, the basic criteria of research methodology is to-
Find out how many people are aware of the brand Monte Carlo?
What do they think about quality, design, product range offered by MC?
What are their expectations from the brand?
Research design
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A research design is an arrangement of conditions for collection & analysis of data in a manner
that aims to combine relevance to the research purpose with the economy in procedure.It
constitutes the blueprint for collection, measurement & analysis of data.
Research design is basically the conceptual structure within which research should be
conducted.This facilitates research to be as efficient yielding giving maximum information.
The research design used in my research work is exploratory & descriptive.
Collection of data
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For my research study the data has been collected by both primary & secondary means.
Primary data – has been collected through the structured questionnaires which will be filled
by various groups of business & service class, teenagers, housewives. The size of the
questionnaires was kept to the possible, containing 12 questions.
Secondary data – has been taken from published reports, journals, magazines, newspaper and
through internet mainly. Various kinds of data has been collected by websites to get the
needful information
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Sampling plan
The sample plan is designed to carry out the study in different areas of Ludhiana as in order to
fulfil the objectives of the study.These areas are like Monte carlo showrooms, Westend mall,
Kipps market, PVR Flames, Mall road etc.Some other popular public places have also been
chosen for this purpose.
Sample size
This includes how many elements of the target population are to be chosen here.In my case
around about 150 consumers was taken for the collection of data from different segments.
Sample technique
In order to take the sample for the study sample technique selected is random sampling
technique.
Sampling unit I tried my level best to cover all the sections of the society like housewives, teenagers,
servicemen, business class etc.Age group for my sample is upto 50.
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Field work
Maximum fieldwork is to get the questionnaire filled and get the various information from the
websites, Newspapers, Journals, and Magazines etc.
Scope of the study
The scope of the study is restricted to the periphery of Ludhiana city.
Significance of the study
This study includes the brand perception for Monte Carlo by various consumers.The research
conducted may prove to be helpful for the company for judging their customers in the right
way as according to their tastes & preferences.
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Analysis &Interpretation
Q1-Awareness regarding the brand “Monte Carlo”
This table clearly indicates that in case of awareness about the brand “Monte Carlo” Out of 150
respondents, 150 are aware of brand as according to my survey.
Opinion No. of respondents %
Yes 50 100%
No 0 0
Total 50 100%
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No. of respondent
100%
0%
Yes
No
Q2- Channels of awareness
Table shows that out of 150 respondents who are aware about the brand Monte Carlo. 27
(18%) respondents said that they came to know from friends, 30 (20%) from T.V.
Commercials, 15(10%) from Newspaper, 13(09%) from Banners & hoardings, 14 (09%) from
Magazines, 34 (23%) from advertisement, 17 (11%) from relatives.
Sources no. of respondents %
TV commercials 30 20%
Advertisement 34 23%Friends 27 18%
Relatives 17 11%
Newspaper 15 10%
Magazines 14 9%
Banners & hoardings 13 9%
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No. of respondents
20%
23%
18%
11%
10%
9%
9%Tv commercials
Advertisement
Friends
Relatives
Newspaper
Magazines
Banners & hoardings
Q3-Awareness regarding the products of Monte Carlo
Product name No. of respondents %
T-shirts 17 12%
Shirts 29 19%
Trousers 28 19%
Jackets 16 11%
Woollen wear 35 23%
Thermals 11 7%
Track suit 9 6%
Outer wear 5 3%
Table shows that out of 150 respondents 17(12%) are aware about the manufacture of T-shirts,
29(19%) are aware about shirts, 28(19%) are aware about trousers, 16(11%) are aware about
Jackets, 35(23%) are aware about pullovers, 9(6%) are aware about Track-suits, 11(7%) are
aware about thermals, 5(3%) are aware about outer wear.
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No. of respondent
11%
19%
19%11%
24%
7%6% 3%
T-shirts
Shirts
Trousers
Jackets
Wollen wear
Thermals
Track suits
Outer wear
Q4- Acceptability of Monte Carlo products
Opinions No. of respondents %
Yes 143 95%
No 7 5%
Table shows that out of 150 respondents, 143 (95%) respondents have purchased & 7 (5%)
have not purchased “Monte Carlo” products.
Q5. Trends of MC products
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No. of respondents
95%
5%
Yes
No
Awareness No. of respondents %
Summer 37 25%
Winter 113 75%
Table shows that out of 150 respondents, 113 (75%) are influenced by winter trends & 37
(25%) are influenced by summer trends of Monte Carlo products..
Q6. Quality of “Monte Carlo” products
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No. of respondents
25%
75%
Summer
Winter
Opinions No. of respondents %
Excellent 57 38%
Good 76 51%
Average 17 11%
Bad 0 0%
Table shows that out of 150 respondents 57(38%) give the opinion that the quality is excellent,
76(51%) said good, 17(11%) said average and no respondents give bad opinion to “Monte
Carlo” products.
Q7- Opinion regarding summer collection of “Monte Carlo” products
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No. of respondents
38%
51%
11% 0%
Excellent
Good
Average
Bad
Opinions No. of respondents %
Excellent 54 36%
Good 63 44%
Average 33 20%
Bad 0 0%
This table clearly depicts that Table shows that out of 150 respondents 54(36%) give the
opinion that the summer collection is excellent, 63(44%) said good, 33(20%) said average and
no respondents give bad opinion about the summer collection of “Monte Carlo” products.
Q8. Factors impact buying decision for a product
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No. of respondent
36%
42%
22%0%
Excellent
Good
Average
Bad
Factors No. of respondents Percentage
Price 18 12%
Brand name 52 35%
Quality 23 15%
Designing 27 18%
Advertising 30 20%
This table shows that brand name (35%) is the most important factor as according to my
survey.12% regard price, 23% upon quality, 18% upon design, 20% on advertising for a
product.
Q9.Expectations from Monte Carlo products
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No. of respondents
12%
35%
15%
18%
20%
Price
Brand Name
Quality
Designing
Advertising
Expectations No. of respondents %
Offers discounts 63 42%
Offers mega sales 39 26%
More durable products 36 24%
Customer loyalty schemes 12 8%
This table shows the expectations of consumers from Monte Carlo products.42% expect that
more discount offers are to be provided, 26% expect mega sales, 24% wants to get more
durable products, 8% wants to get customer loyalty schemes.
Q10. Satisfaction level by “Monte Carlo” products
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No. of respondents
42%
26%
24%
8%
Offers discount
Offers mega sales
More durable products
Customer loyalty scheme
Opinions No. of respondents %
Yes 117 78%
No 33 22%
This table clearly depicts that 113(78%) are satisfied by the product range 33(22%) are not
satisfied with the product range as offered by Monte Carlo products.
Q11. Perceptions regarding prices of “Monte Carlo” products
Opinions No. of respondents %
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No. of respondents
78%
22%
Yes
No
Genuine 83 55%
Expensive 45 30%
Over priced 22 15%
This table depicts that 83(55%) regard the prices as genuine, 45(30%) as expensive, 22(15%)
as over priced.
Interpretation
Since last so many decades, Monte Carlo, a super brand has always been continued to deliver
customer satisfaction which is the main motto of the company. Consumers trust their products,
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No. of respondents
55%30%
15%
Genuine
Expensive
Over priced
& the vast experience, resources & marketing knowledge they possess is reinforcing their
continued success.
It is interpretated that satisfied customers are extremely loyal when their trusted brand deliver
on promises and buyers needs continue to be met .Our country is segmented by many diverse
cultures which result in varied consumer taste and levels of sophistication. Therefore, a
company has to build its brand based on genuine insights to succeed and retain its position.
Customers demand has undergone a dynamic change as well. It has moved on from being just
a transactional arrangement to more of a strategic partnership that contributes effectively to
customer’s success. Today everyone looks for unique attire. Consume demand more choice
and a wider range in terms of prices.
The product range of Monte Carlo is trendy and stylishly different from other brands. Through
the years its focus has always been on delivering matchless quality, every time combine with
new and innovative design ideas. To ensure consistent quality, the company makes sure that
technologies and material and process are always the latest and the best.
Limitations
The limitation of the study is that it is survey of an area, not whole region so we can’t
tell about varied tastes & demands of all sections of the society.
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Survey is time consuming.It demands great manpower that can handle every kind of
individual.
Survey is not reliable as sometimes even surveyors befool on companies when they fill
the questionnaires themselves & present before their seniors. It is a question of
authenticity of a person.
Survey demands patience, time, hard work, efficiency, speed, alertness of mind & good
communication skills.
Research work is carried out in Ludhiana only, so the findings may not be applicable to
the different other parts of the country because of social & cultural differences.
Sample size is very small as compared to the population.
Time & money constraints have also limits.
FINDINGS AND CONCLUSION
Customers are aware of the brand “Monte Carlo”
Customers are satisfied with the quality & design of “Monte Carlo” products.
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The most preferred brand of this product is woollen wear.
Customers are expecting more discounts on products.
Satisfaction level is very much higher for “Monte Carlo” products.
Customers regard prices of “Monte Carlo” products as genuine.
The most important factor that impact for buying decision of a particular product is brand name.
Winter products are more acceptable as compared to summer product.
CONCLUSION
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The brand Monte Carlo showcased in the survey has earned the trust of consumers globally&
internationally. The words “Change is a way of life those who will not change will be left
behind” has been the driving force behind the brand Monte Carlo. Innovation is the keywords
that has been associated with the brand since its origin in 1925, be it in quality, design or new
concept.
It evokes a deep rooted trust among the customers and has become a household name in
woolen wear. It reaches out & provides a choice to every kind of customer. The brand aims at
explicit leadership in Indian market by providing consumers with superior product, better
lifestyle and incomparable satisfaction level.
Inspite of the competition from both the international and domestic brands, Monte Carlo enjoys
leadership status with the market share more than 38% this is on account of both strong
distribution network and strategic promotions.
Currently the brand is growing at over 32% per annum .The company has earned an unparallel
reputation for trust and reliability.
My study is only a regional study to measure such a broad spectrum of consumer tastes from
their opinions.
My survey reflects many arenas in which the company has proved its caliber and some arenas
where it is still to make a mark.
I am proud that I had my BBA training under guidance of the best and most trusted brand in
the market .Any flaw in the report is regretted.
APPENDIX
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Questionnaire
NAME-AGE-ADDRESS-OCCUPATION-INCOME GROUP-
1) Are you aware of the brand MC?
a) Yes
b) No
2) From which media did you get to know about MC?
a) TV commercials
b) Advertisement
c) Friends
d) Relatives
e) Newspaper
f) Magazines
g) Banners & hoardings
h) Others
3) Are you aware of both the product range manufactured by MC?
a) Summer Yes No
b) Winter Yes No
4) Which these of products range by MC are you aware of?
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a) T-shirts
b) Shirts
c) Trousers
d) Jacket
f) Woollen wear
g) Thermals
h) Track suits
i) Outer wear
j) Others
5) Have you ever purchased MC products?
a) Yes
b) No
6) What is your opinion regarding the quality & design of MC products?
a) Excellent
b) Good
c) Average
d) Bad
7) What is your opinion regarding the summer collection of MC?
a) Excellent
b) Good
c) Average
d) Bad
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8) Which factors impact your buying decision for a product?
a) Price
b) Brand name
c) Quality
d) Designing
e) Advertising
9) What is your expectation from MC products?
a) Offer discount
b) Offer mega sales
c) More durable products
d) Customer loyalty products
10) Are you satisfied by the product range offered by MC?
a) Yes
b) No
11) What is your perception regarding the prices offered by MC?
a) Genuine
b) Expensive
c) Over priced
12) In which sector you think improvement should be made? Give suggestions?
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BIBLIOGRAPHY
Book— Kothari C.R., Research Methodology, 2008, New age international
publisher, Delhi.
Web access- www.montecarlocollections.com www.knitwearclub.com www.indiahosiery.com www.montecarlo.com www.owmnahar.in www.ludhianadistrict.com
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