timberland leather boots How to Write Executive Summary of MBA Project Report on Marketing in Footwear Industry
Footwear Industry in India is a good topic to write your MBA Project Report. To write Project Report on Footwear Industry certain information is required.
Recession had less impact on the Indian footwear market as the market was largely dependent on internal consumption that remained robust. Overall the economic outlook for the footwear market in general remained positive and this sentiment helped footwear market as well.
One of the key advantages for footwear manufacturers was that as the input costs rose in first half of 2008 for neighbouring competing countries like China, it remained somewhat stagnant in India providing it with a distinct advantage. This also helped India to compete in the domestic market without worrying about the cheap foreign onslaught of footwear goods.
Styling became more important as Indians showed willingness to buy the products that are not only good in quality but also provided them world class styling. The market witnessed a lot of investment by footwear manufacturers to develop new styles of products and market them either through multi brand stores or their own stores. Players like Liberty Shoes Ltd actively launched new products and promoted their footwear through different retailing channels. The focus was on improving quality and design.
Footwear immensely benefited from the support of institutions like Central Leather Research Institute, Chennai, Footwear Design Development Institute, Noida, National Institute of Fashion Technology, New Delhi in the areas of technological development, design and product development and human resource development. This helps the marketers to come out with new products faster and adapt to changing consumer needs.
In the organised footwear segment men footwear constituted around 74% of total market sales in 2008. This was primarily because the women footwear segment was more fragmented than men Women preferred to often change their footwear according to their clothing and enjoy browsing city markets to purchase footwear from footpaths and smaller stores it is cheaper. Women also liked to buy the latest footwear and the smaller shops with private labels provided that opportunity at the best price possible.
Footwear in sportswear category continued to gain ground due to increase presence of international sportswear brands such as Adidas, Nike, Puma, Reebok and Kappa. International brands were more popular in urban India where as Indian brands such as Liberty, Relaxo, Lakhani were more popular in semi urban and rural India. Price plays a big role in the market penetration as Indian brands were as much as 50% 60% cheaper than international brands.
As economic prosperity was rising for the urban middle class, demand for sports wear footwear increased. Sportswear grew at a fast pace in the review period primarily due to increased demand from urban India. Even though sports wear grew at a fast pace, formal wear remained the biggest revenue earner in the footwear market. Casual wear was also popular. One of the major deterrents to growth of sportswear footwear was its price which remained high for the Indian market.
The overall unit price for footwear sector remained flat and grew at around 1% over last year base. One of the reasons why the unit prices remained flat was due to price correction that private labels forced into the market. Also the fear of the adverse impact of the economic slowdown forced footwear players to hold ground and not to increase prices.
A lot of players announced plans to open their own retailing stores in 2008. But the most popular distribution channels remained the multi branding stores and newly established retail malls. The wholly owned stores provide better margins to footwear makers and also helped them with their branding needs. International players especially preferred to go solo and open many new wholly owned distribution channels.
By collecting more information, the abstract can be worked into a good quality MBA Project Report. Also Project Report on Marketing will require questionnaire.
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