Crystal clothing company which is located in India is said to be one of the biggest manufacturing company in India for all age group, be it infant's childrens and adult knitwear. The company has a history of starting way back in the 1971. The company is located in Tirupur, India and is said to be the manufacturer of Crystal knitters, crystal fabric, crystal tex night and sadhana spinners, one of the biggest shareholder in the Southern part of India. They are mainly known for the manufacturing of Knitwear and casual wear from any age group, from just born babies to adults. Crystal company product list includes knitted garment, baby, kinds, toddlers, women and men. T-shirt, raglan T-shirts, romper, T-shirts, cardigan T shirts, skits, bodies, jumpsuit, shorts, pant, tops, booties, caps and scarf's for the manufacturing.
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http://www.1000ventures.com/business_guide/mgmt_strategic_environmental_analysis.html on 23/11/2010.
This will deal with the analysis of the organisation analysis of the company, do evaluate or analyse the environmental condition we will have to do a SWOT analysis of the company, this in turn will help you to know the condition of the company.
SWOT Analysis of Crystal Clothing Company:
Strength of the company:
The strength of the company is that it has had a old setup in the business, it means that the company had started it business from being a very small company to being one of the largest manufacturer in the business of clothing or textile manufacturing company. They have a lot of ideas and have gone through a lot of innovation to reach this stage in the present market and the company has seen a lot of growth in the past few years and so not it is thinking of expansion.
The weakness of the company is that is doesn't have a core business, it is the manufacture of all types of clothing, with no specification in its area as such, what it need to do is to develop a core business and then have other diversified products. Working in India, it has not had any global exposure and so it will be hard for it to enter into the new market. A lot of planning and implementation has to be put in to fulfil its objectives.
The opportunity for them are on a very large scale, they have the change and the capabilities of the company to go globally, with the expansion of the company It will have the impact on its profit and then can make a name of its products and brands in international market.
The threats to the company at present is that it has a lot of competitors in the field of manufacturing, Other than that has developed is that it is a knitwear manufacturing company and with time a lot of innovation has come into the market and they need to be one step ahead so that they can compete in the present market, though not so easy are somehow managing it.
Market Entry Strategy:
A proper planning of a marketing strategy will put the risks aside for an organisation while entering a new market. The approach that is followed was designed by Mason for a organized development of a marketing strategy. This will allow as making the full use of the objectives that have been created and then follow the maximum utilization of the funds that are available for investment, which will finally make as competitive and the fund that will be invested will be secured. First of all it is very important to design a structured strategic plan by considering the market condition, this will result in less no loos or secured invest which occurs with a proper planning.
Internal assets / Technology
Identified strategic risk areas
Summary and conclusions
Market opportunity description
Market entry strategy
Vision and Mission
Always on Time
Marked to Standard
Products and services
Brand and communication
Sales and distribution
Internal and external factors
Products & services
Brand and communication
Sales & distribution channels
Customer service Tactical launch plan Contingency plan
Here we will be using Mason marketing strategy which has proved quite effective in the business, with a lot of companies adapting to this form of strategy when entering a new market.
Vision and Mission:
As the company has grown tremendously in the past few years over vision is to develop a global market organisation, rather than just being a domestic market organisation. The mission of the company will be to be at establishing themselves as one of the top companies globally.
The objectives of the company will be to be one of the top companies in India and establish itself in the global market and for that they will have to concentrate on the customer satisfaction and the choice of the selection in the new market where the company is going to enter.
Positioning is something which is again very important as they need to plan strategy wherein they can gain an upper hand over their competitors and the demand in the new environment has to be taken in to consideration as well. To capture the major share of the market it will have to put in a lot of method.
The brand strategy is generally used to know what in what form you need to communicate with the custom the improve the performance of the company.
The customer segment which is to be target need to be found out by the company and then find out about the likes and dislike of that segment and then do the thing or planning that is necessary.
Strategic directions in all functional areas; products & services, pricing, brand & communication, sales & distribution and customer service further detail the overall entry strategy. Finally, the launch phasing section explores the various viable market entry options, their pro's, cons and pre-conditions
Strategic direction are then further used to make a tactical launch plan of the product or products and that plan can be used to know what all areas that the company is functional in and then accordingly provides the vendors and the team which is going to launch the product with sufficient information and then they can implement the information accordingly. And so this in turn will overall help for the company to enter into the market.
A product & service roadmap is something is something which is again done as a strategic planning for the product that ones the product will be launched into the market what will be the benefits and advantages of the product to the competitors and what will they gain from that. The roadmap includes each and every detail of the product and the service that will be launched and after the launch of the product and services of the company.
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Pricing play a very important role in the launch of the product this is a very important thing that need to be taken into consideration, when entering a new market you must take care that you mark the right price of the product, do a bit of market research and then launch the product so that you don't make blunders, while entering a new market it will be really important for you to know the prices at what your competitors are selling the products for and then do it accordingly. If your prices are set right before the launch you can make the customer satisfied when they buy the product or products of your company. Also a lot of importance has to be given to the packaging of the product, with a proper design so that the product looks different from your competitor's companies.
Brand and communication plan for market entry includes development of brand wheel (attributes, benefits, values) and full launch campaign planning.
Then comes the planning and making of the sales and distributing channel plan which will involve the planning of how you are going to send the product to the dealers and what will be the commission that you will be offering to the customer. Taking into consideration the margin of profit and what is the best you can offer to the distributors of your product so that they will keep your product on the product list.
Customer service plan will indulge in the services providing to the customer, for example if you are dealing with the cloth, generally you see a size problem, means fitting problem which a lot of custom face you can offer something like that and something of this sort will be beneficial to the customer and they will be attracted towards your product.
Clear contingency planning enables the company to pre-empt the occurrence of situations that affect the planned activities and prepare plans to remedy those, resulting in shortened reaction time. Both internal and external factors will be analysed
Internal - e.g. technical and organisational issues
External - e.g. competitive market activities and regulatory actions.
As the company is the manufacturer of the product for all age group and both male and female, the core business that they want to develop is on the eco-friendly knitwear and they can focus more on infants and children and that mainly should include the economy class of people.
Market Mix Modelling is the estimation of the incremental increase in sales caused by marketing expenditures such as couponing, advertising, promotional price reductions, direct mailings, telephone solicitation, etc.
The modeller then attempts to explain the variation in the results in the test area vs. the control area. A mathematical technique known as "regression analysis" is used. The purpose of this technique is to find a number (a "co-efficient") that can explain the difference in sales between the test area and the control area (or period). In effect, the modeller is doing repetitive "trial and error" calculations trying to find the number that "fits" or explains the differences between the test and control areas.