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    Neckties

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    apurva_murty
    Neckties have been an important part of men's formal wear in India for decades. Previously, most ties were imported but domestic production grew in the 1960s led by brands like Zorex and Bentlay. Today, the Indian tie market faces stiff competition from foreign brands from Korea, Japan, and China. Casual dressing has also reduced tie usage. Bentlay is considering sponsoring a market study to understand customer profiles, perceptions of domestic vs foreign brands, and segmentation patterns in the tie market.

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    Neckties

    Uploaded by

    apurva_murty
    111 views4 pages
    Neckties have been an important part of men's formal wear in India for decades. Previously, most ties were imported but domestic production grew in the 1960s led by brands like Zorex and Bentlay. Today, the Indian tie market faces stiff competition from foreign brands from Korea, Japan, and China. Casual dressing has also reduced tie usage. Bentlay is considering sponsoring a market study to understand customer profiles, perceptions of domestic vs foreign brands, and segmentation patterns in the tie market.

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    Neckties have been an important part of men's formal wear in India for decades. Previously, most ties were imported but domestic production grew in the 1960s led by brands like Zorex and Bentlay. Today, the Indian tie market faces stiff competition from foreign brands from Korea, Japan, and China. Casual dressing has also reduced tie usage. Bentlay is considering sponsoring a market study to understand customer profiles, perceptions of domestic vs foreign brands, and segmentation patterns in the tie market.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    111 views4 pages

    Neckties

    Uploaded by

    apurva_murty
    Neckties have been an important part of men's formal wear in India for decades. Previously, most ties were imported but domestic production grew in the 1960s led by brands like Zorex and Bentlay. Today, the Indian tie market faces stiff competition from foreign brands from Korea, Japan, and China. Casual dressing has also reduced tie usage. Bentlay is considering sponsoring a market study to understand customer profiles, perceptions of domestic vs foreign brands, and segmentation patterns in the tie market.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
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    Neckties have been around in India for past several decades and now form an inevitable part of men's

    formal dressing. Before 1960's, ties were mostly imported from France, England, Italy and a couple of other countries. It was 'Zodiac' which gave the impetus to domestic tie industry in the mid sixties. This was followed by a Delhi-based small company-Zorex Tie Manufacturing (P) Ltd., the ties were sold under the brand Zorex, which later took the name Bentlay. Zorex specializes only in neckwear, whereas other companies treat this segment as an additional item in Menswear market. Today, the tie market in flooded with a number of brands. Bentlay is facing a stiff competition from the companies of Korea, Japan and China. There is a shift from domestic to foreign brands. This trend fuelled by liberalization of imports is expected to gain further momentum in the years to come. Apart from this the domestic producers have also been hit by the onslaught of denim wear and casual dressing, thus reducing usage of ties. Bentlay is thinking seriously sponsor a comprehensive study on necktie market to study its customer profile, its image vis-a-vis other domestic & foreign brands and the segmentation pattern of tie market. Assume that you have been approached to conduct the market research. a) Make a proposal for the market research to be submitted to the client. b) Give detailed Research Design for the proposed study. c) What tools of data collection will be used by you?

    Segmentation: Combination of factors such as highly educated, etc Customer profile: demographic factors Image: sementic differential scale dependable/undependable. 3rd scales:likert scale Completely agree, not agreeetc

    a) Make a proposal for the market research to be submitted to the client. Customer profile:
    1. Targeting corporates in big companies.

    2.

    b) Give detailed Research Design for the proposed study. Formulating the research design involves following steps:
    1.

    Demographic factors: This age group (25 years-60 years) has a varied taste and a lot

    a.

    of diversification can be seen. b.

    2. Secondary data analysis 3. Qualitative research 4. Methods of collecting quantitative data 5. Measurement and scaling procedures 6. Questionnaire design 7. Sampling process and sample size 8. Plan of data analysis

    c) What tools of data collection will be used by you?

    Tools of data collection:

    1.Primary data collection methods used:


    1.

    Survey of the market by identifying the market for neckties. Ex: corporates. School going children. Questionnaires: what does the customer want, their expectations from the product. Likert scale is being used in the questionnaire method.

    2.

    Ex: the customer is in favour of the product!


    1.

    Strongly agree. 2. Agree. 3. Disagree. 4. Strongly disagree. 5. Neutral. Expert panels: discussions will be held with marketing executives to promote the product in question.

    3.

    2.

    Secondary data collection methods used:

    1. Different ties (various colour combinations and designs) for sales executives in a mall for example. 2. Finding the average number of corporates wearing ties in a certain organization and encouraging the ones not wearing ties to wear one by introducing good quality ties at a little lower than competitive prices at the introductory stage. 3.

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