Marketing Management

Name: Mohmedfaizal Kadri Assignment No.: 01 Roll No.: D-302422 Date: 16th September, 2012

My Product :
VIP Suitcases and Bags which I Use frequently in day to day life.

Introduction
This Assignment is About a Product VIP Suitcases and bags which we use in our day to day life. We use suitcases and bags for office, home, travelling purpose. There are large number of companies who producing suitcases and bags. Luggage Industries are working since 2300 years approximately. This Industry had seen many development and deficits in the past. In the Ancient time the Luggage had made from Bamboo and other grasses. Then it moved towards cloth then again moved towards Wood and again moved to Iron and Steel and at last. It was moved towards plastic. VIP Industries Ltd is the worlds 2nd largest and Asias largest luggage maker based in Mumbai (Maharashtra) India. The Company Manufactures Plastic molded suitcases, handbags, Briefcases, vanity cases, and other bags. It has Acquires UK Luggage brand Carlton in 2004. It Provides travel products, hard and soft Luggage, bags, duffels, shoulder bags, and other bags. The Company offers its Products Primarily under the VIP, CARLTON, DELSEY, SKYBAGS, ALFA, ARISTOCRAT and BUDDY brands. It also manufactures Molded furniture under the Modern brand Since every human moves here and there and they always moves on their need to carry with him their Daily prior utilities and it is only satisfied with the Luggage carrier. Luggage carrier is divided into different type of Names and Brands. E.g. SUITCASE, BRIEFCASE, HANDBAG, SHOULDER BAG, CARRY BAGS, BAG PEGS etc. Just for your Information the Total Turnovers of Luggage Industry in India is about Rs. 758 crores. So it is the developing Industry and big Industry. And last but not the least it is a type of thing that a child also knows about it.

MARKET POTENTIAL
1

As we have seen before, the demand of Suitcase and bag Industry will never decrease but it will increase day by day. Market Potential means. If you produce a product and put into market for sale what types of features your product has so that consumer, market can be attracted. In short, what & how is the ability to develop your product. Every entrepreneur should define and decide his products Market Potential. There is Total Rs. 758 crores (approx.) turnover or supply of the Luggage Industry. There are the Total demand of Luggage Industry is about Rs. 1700 to Rs. 1800 crores and will be near by it. But in Luggage Industry market of India have very large gap between the demand & supply. And In the Luggage Industries of India, there are many Small Scale & Medium Scale industries and also a Large & Huge Industries. In this Market, now some foreign companies have come up to India for capture the market share. In India both types of Prospects are there. One who prefer the quality and second who prefer the cost. VIP Company will provide quality product to its Prospects and this Industry is like an open sky, because. It has a widened scope for development. So, VIP Suitcases and bags will be successful in this field by filling the gap and provide the best Quality Product.

PRODUCT FEATURES
VIP has attractive features which are as follow:

1. STRENGTH:
VIP Luggage carriers are made from high density fiber with mixture of High quality plastic so it would make the product unbreakable.

2. SAFETY:
In VIP luggage carriers we would assure 100% guarantee of safety because it has a secure design and strong frame work so it provides full safety against theft, fire, Hazardous Chemical, Accident etc.

3. LOCKING SYSTEM:
As per the present age there is an increasing fear of theft. Generally in other luggage carrier has two similar locks which are ordinary; But in VIP products there is only one central lock with two keys and it would be totally inside the body of the luggage carriers and it would be made by a special orders.

4. LIGHT WEIGHT:
In the present age, the human has become very comforts demanding, so VIP keep an eye on this aspect and they shall make the magically light weight product with the help of research.

5. NEW DESIGN:
Though, it is an exceptional case VIP shall give an extra ordinary design, outlook comfortness, color, shape, size and nearly developed exterior appearance.

6. WARRANTY PERIOD:
In the present age, every luggage carrier product gives 1 year warranty time to customers. But VIP provide the best quality and also give attractive 3 years guarantee as well as lifetime warranty period.

7. MEDIUM PRICE:
At that time, there are Luggage carriers available from Rs. 100 to Rs. 60000 but it depends upon customers beliefs, need status, loyalty etc. VIP providing the medium range for

middle class and upper-middle class range for Upper class people because it is a Major community.

8. PRODUCT BY CLASS:
Some of Industry emphases on any preferred class luggage carrier like, Suitcase, Briefcase, Hand Bag, Trolley Bag, shoulder Bag, Traveler Bag etc. But from the beginning VIP provide a product class and depth for the different needs of the different prospectus.

ANALYSIS
Why customer goes for a Specific product (VIP Bags)....?

The Ruff n tuff Bags

VIP has created its brand name in the Luggage industry worldwide, More than a million units of Suitcase were sold by a year. With monthly sales of more than 5,00,000 units. The customers are even satisfies with the Quality of the VIP Suitcases and they even suggest others to go for the same brand. VIP bags are much better than other bags in its competition such as Safari, American tourister, Max, etc. VIP has better Quality and Range with better Services and where as price is concerned VIP is comparatively cheaper than Other bag companies like Safari, American tourister etc., which is the main factor why customer goes for VIP rather than Other Companies. This is the reason why youth is attracted toward these aggressive looking bags.

Why a particular outlet.??

Being a customer if I am investing Money, I cant rely on any local person I will believe on company authorized dealers because that gives me as surety and after sale service, and that creates trust and certain personal factors will also influence my decision of choosing a particular outlet.

BRAND LOYALITY
Brand loyalty and brand switching are two related terms. Brand loyalty refers to the behaviour of the customer where in the customer stick to their respective brands without being affected by the market fluctuation. Whereas brands switching is a completely contradictory concept compared to the above.

For Ex:- As VIP has wide range of bags available in different segments as per the demand and preference of the customers a brand locality has created as they get each and every feature required.

BRAND SWITCHING
Brand switching is a consumer behaviour shifting on to the next product as soon as a situation changes in the prices in case of VIP bags, as customers are very flexible they are very likely to go for any other Company. For Ex: - When American Tourister has launched its new Designs bags, the market share of VIP has gone down as customers were attracted toward the new designs bags because of its appearance.

Conclusion
This VIP Company has Changed the trend of Bags, suitcases, carrycases briefcases etc. in the country and has attracted youth as well as everyone a lot. Even they are launched new brands namely Sky bags, Carlton, Alfa etc. its more economical than the competitors. It has better quality, features and appearance much stylish than the other Competitor companies. Its one of the Top Company in India manufacturing Bags and suitcases.