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The liberty company

2720 words (11 pages) Essay in Marketing

5/12/16 Marketing Reference this

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The Liberty Company

ACKNOWLEDGEMENT

This report bears the imprint of many people and without their support would not have existed.

First of all we would like to express our sincere indebtness and profound sense of gratitude to our parents without their support in all our endeavors we would not have been able to give this project its present shape.

We acknowledge our deepest thank to Mr.Manish Rajput, for all his guidance and encouragement which leads us all through this project. Suggestions at all point of time are invaluable for us.

We would like to put on record our sincere gratitude to all our friends for giving us valuable ideas throughout our project.

Introduction

LIBERTY Company established in the year 1954 by Mr.D.p gupta, Mr.P.D gupta and Mr.R.k bansal.

Liberty is leading a leading leather shoes brand and it engaged is the manufacturing supplying and exporting of the same.

It is the only Indian leather shoes brand occupies 5th ranking among the top shoes manufacturing company in the world. But now it plans to introduce the various types bags in the market for this sake it arranges the fund from various financing activities and various operation in the organization.

For this company have lot funds for introducing

The bags in the market to all the segment in the market like student bags, tourists bags, laptop bags, domestic bags etc.

Company profile:-

Liberty group started operation in 1954 and today comprises five firms

  • Liberty footwear company
  • Liberty enterprise
  • Liberty leathers
  • Liberty group marketing division
  • Liberty shoes limited.

The group has annual turnover of Rs 500 crores approx. liberty has its own studio for design and development of footwear .it manufactures footwear both for export and domestic markets. The company has carved a name for itself in the international market and is India’s largest exporter of footwear to Germany.

Liberty shoes limited the public company of the group started commercial production in 1993 and is the countries leading footwear manufactures today. The company has state of the art production facilities at libertypuram to manufacturer high quality footwear and its contribution in liberty group’s total sale is over 30% and it’s rising steadily.

And it launches new brand in bags for convenience of the people’s the company name is liberty bags India ltd.

Mission:

The aim is to be the top BAGS Company in the market. This does not just mean being the largest or the most productive company in the market.

  • To set quality standards as benchmarks to be overachieved every time.
  • To not deviate from path of orientation.
  • To constantly be open to change in world of technology and ideologies.

Marketing objectives:-

The marketing objectives of Liberty bags are to increase company’s bag awareness among the target audience by 40 percent in a year. The co. is already a largest brand in shoes making but our objective is to that co. Will also have a large brand in bags manufacturing.

To accomplish these objectives the co.’s aim to provide best quality bags to its customers by using best quality material and increase its sale to 20 percent in one year.

  • Delivery best quality bags to the customer.
  • Maintain a reputed public image.
  • Customer service of the highest order
  • Value for money for customers
  • Professionalism in carrying out business
  • Innovative products to cater to different needs of different customers
  • Use of technology to improve service standards
  • Increasing market share.
  • Broke competition
  • Provide Best quality products.
  • Increase market share.
  • Increase sales through satisfaction.

The main objectives of study:-

  • Of the study is to make a comparative study of the company’s financial with that of the

competitors:-

  • To assess the liquidity of the concern.
  • To know the efficiency in the business operations.
  • To evaluate the solvency of the business.
  • To measure the profitability and overall performance of the concern.

Situation analysis:-

Industry analysis:-

Trends:-

At the present scenario the bags are comes at different size colour and shapes. But we try to know about present trends of bags like laptop bags, fashion bags, leather bags, evening purse and luggage bags.

It comes with awesome features such as stiletto heel metal clasp, open pocket with leather pogo patch and more. This will take care of your evening essentials and you would be the envy of the ball. It costs $1,495 and is quite expensive, I must say.

The glamorous ladies out there are on a hunt for magnificent and splendid hand bags to suit their life

style. The beautiful women who love to look smart and stylish, know it very well that their fashion statements would be extremely dull and lifeless

Without gorgeous hand bags to complement their extra ordinarily couture silhouettes. Since we all Know that the season of festivities is approaching fast, almost all the fashion freaks are busy collecting elite and glamorous pieces to adorn ourselves.

The style of this exclusive bag is too sophisticated and fashionable also. It gives a feeling of princely attitude, the moment you carry it. The royal navy blue color infuses great life in this luxurious handbag. It dimensions are 8″ *3. This would indeed be a possession forever. The one, who carries this handbag, will definitely have a reason to envied in her fashion circle.

Competitors:-

There are many big companies; local and international are involved in bag manufacturing. The company is creating a new niche in the marketplace and therefore faces competition from a variety of sources. Liberty has already famous as a top brand in shoes making so mostly people aware about the company it can compete easily other bag manufacturing companies like:-

  • Addidas
  • Nike
  • Reebok
  • MAYUR INDUSTRIES
  • CALVIN HANDICRAFTS EXPORTS
  • GOODLUCK INDUSTRIES
  • AMERICAN TOURISTER

Customer profile:-

There are different types of bags for different types of users like for male, female, children, professionals, tourists etc. There is no specific geographic area is selected. The aim of liberty to making bags to fulfill the need of every bag user group. The school bags for students, laptop bags for professionals, messenger bags for men & women, travel bags for tourists so liberty target on each group according to their needs and high level & middle level income group which have above Rs 1 lakh income per year are targeted group.

Technology:

If you want to make a good design bags you consider lot of factors like present trends of bags what are the likes and dislikes of the customers and the hand bags is luxurious with an abundance of silk satin lining and satin petals which makes it less luxurious and more outlandish .you also could put a chain shoulder strip when you need and the glamorous Italian handbags.

Swot analysis:-

  • S……………………..STRENGTH
  • W……………………WEAKNESS
  • O……………………OPPOURTINITIES
  • T…………………….THREAT

Strength:-

  • Established brand name.
  • Wide dealers’ network.
  • Bondage between company and employees,
  • Customer’s faith.
  • Leaders in quality.
  • Economies of scale
  • Infrastructure

Weaknesses:-

  • After sales like replacement of bags is very poor.
  • Price of products offered is not satisfactory.
  • Company representative doesn’t visit dealers frequently
  • Sustained growth rate.

Oppornities:-

  • Have the opportunity of grabbing the market share through launching of new and wide range of product with new designs.
  • Wide market in low prizes bags as most population is financially weak in our country.
  • Existing successful products of company.
  • Increase sales by giving incentives to sales officers and dealers.
  • Develop market sensitive product line.
  • Globalization.

Threat:-

  • Cut throat competition
  • Due lack of good design of a products and after sale services the company who provide good quality product and after sale service.
  • Competition for resources.
  • New entries in the market
  • Unforeseen conditions

Target market strategy:-

Target market tailors a marketing mix for one or more segments identify by the market segmentation. Target marketing contrasts with mass marketing, which offers a single product to the entire market.

Two important factors to consider when selecting a target market segment :-

  • Attractiveness of a market segment
  • Size, growth, competition, brand loyalty of the segment.
  • Suitability of market segment to the firm:-
  • Whether the firm can offer superior value to the customers in management. The impact of serving the segment on the firm’s image.

Access to distribution channel required to serve the segment.

Types of target marketing strategy:-

  • Single segment
  • Selective specialization
  • Product specialization
  • Market specialization
  • Full market coverage

Now we selected full market coverage strategy. In the liberty company serve the entire means of either a mass market strategy in which a single

undifferentiated marketing mix is offered to the entire market , or by a differentiated strategy in which a separate marketing mix is offered to each segment and consider all the market and provide bags to all over market.

Marketing mix:-

Product: A product is a something which can be offered by producer to customer in the liberty company over product is bags. And we provides a good quality bags for each and every segment increase sales of product through satisfaction or increase mkt. share and increase turnover for more profitability . We have different types of bags which is offered by over company these bags are as follows:-

Price:-

Price mix refers to how and what the price of a particular product is to set in the company. In the liberty bags we just apply penetration pricing strategy under this we set the price of a particular type of bags is relatively low for capturing the mkt. and increase sales and market share. Under this pricing we cover all of the peoples which have low and high level of income because the bags prices are reasonable and affordable by each and every customer.

These prices are set on the basis of competitors, cost, and customers.

Place:-

Liberty Company is situated in Faridabad Haryana. Faridabad is one of large number of industries and the location of this state is very good infrastructure in Haryana. There are lot of benefits of location like easy transportation facility reduced cost of getting raw material and various other benefits of good place or good location.

Network channels:-

Promotion:-

This activates are necessary for liberty company we promote our company through various tools of promotions:-

  • Advertising
  • Personal selling
  • Sell promotion
  • Public relation

In the promotion of liberty company we do more and more advertising and personal selling and increase the sales promotions through cash coupons discounts contests and various other tools for promotes bags in the company. We also promote the industrial relations through news papers and magazines articles and reports, TV and radio presentation, seminars etc.

Implementation, evaluation and control:-

Marketing research:-

  • Research can be defined as systematized effort to gain knowledge. A research is carried out by different methodologies, which have their own merits and demerits.
  • http://www.liberty.in/images/logo.gif
  • Research methodology is a way to solve research problem along with the logic behind them. Thus when we talk of the research methodology we not only talk of the research methods but also consider the main part behind the methods we use in context of our research study and explain why we are using a particular method or technique and why we are not using others so that research results are capable of being evaluated either by the researcher himself or by others.
  • Research methodology means the method carried out to study the problem. It shows the type of the sample design used, its size and the procedure used to draw sample. The extent of precision achieved and the method used for handling any special problem during the course of the study.

Organizational structure and plan:-

The main objective of Liberty company have profit maximization through customer satisfaction and maintain public image. this task possible when company have a perfect organization structure in this company have informal as well as formal organization. Both have some merits and demerits in the organization and this leads to the competition and long term survival in the future. So we can say that this organization structure is perfect for all over company.good organization increase the followings:-

  • Leads competition
  • Deal with contingency perfectly.
  • Profit maximization.
  • Handling grievances effectively,

Financial projections:-

Present General Fund Projection for Financial Year 2008

There are no specific fiscal actions that result from acceptance of this report. The Fiscal impact of the Financial Year 2008 budget projection will be considered as part.

Of the FY 2008 budget process. As a result of updating the Financial Year 2008 current level of services, the estimated deficit faced by the County is between $201.6 million and $238 million, which are, at the high range, $36.4 million above our August estimate. Between now and June, the projected County deficit could also change as a result of new information, and State and/or Federal budget impacts. As part of the County Executive’s FY 2008 Recommended Budget, the Administration is likely to propose modified solutions to address the deficit above the original $201.6 million.

Implementation time table:-

In this table:-

  • The total expenditure is increase due to latent factors.
  • Total revenue is reducing due to high of the in expenditure.
  • Total cost increase in comparison of 2007 and 2009.
  • Apply six sigma standards.

Summary:-.

Liberty bags limited company covers all the market and target all the segments of a market and adopt price penetration pricing of a particular product and also provide good quality bags and increase sales through satisfaction and increase the profits and maintain the public relations and maintain a good image in the market and also increase the market share and generates revenue through market. It also a consider before setting the price all levels of income group persons. So finally we can say it becomes a reputed company in future.

Sugesstion and recommdation :-

I would like to suggest:

  • More emphasis on market research.
  • Focuses on demand and present trends customers.
  • Consider more study about competitors’ strategies.
  • Also work on “CSR activities” for public image.

Bibliography:-

Books:

Philip kotler marketing management 13ed.

Mannual

Annual reports of liberty ind ltd.

Internet:-

www.google.com

www.libertyshoes.com

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