Bamboo furniture

Happy furniture to you

Report

On

Propose a marketing mix for handloom and handicraft brand

Submitted by

Hariprasad T S, Anupma Chuhan, Rajesh Kumar

Submitted to

Mr. Rajesh Chudhary

Page | 1
 INTRODUCTION
Bamboo, also known as green gold, large grass, is one of the most rapidly growing plants. It
is an incredible raw resource to explore in numerous ways and methods for a variety of
uses. Bamboo's capacity to be converted into various sizes of splits, as well as its flexibility
to weave and create structures, distinguishes it from other natural materials. Similarly,
many of bamboo's unique qualities aid in the creation of a variety of everyday items.
Designers and artists all around the world are putting this material to imaginative use in a
variety of applications and displays. Due to the fact that distinct bamboo species grow in
every section of India, the North-Eastern region of the country has the most species.
Traditional communities in such places made the most of the bamboo. Bamboo has long
been used in India to construct homes, goods, tools, equipment, and weaponry. It has long
been regarded as one of the greatest building materials for houses and other constructions
such as bridges. Since many generations, one of India's most advanced tribes, the Apa-Tani
Tribe, has practised systematic bamboo cultivation and utilisation. That demonstrates the
amazing possibilities of this fantastic material, which may also be simply adapted in today's
world. The most effective strategies to realise green technology are to optimise the
manufacturing process, minimise environmental harm, balance manufacturing technology
costs, and reduce raw material consumption, health risk. For furniture items, especially
green or ecological ones, the environmental impact is critical. The examination of various
environmental features of wood based panels such as particleboard (PB), medium density
fibreboard (MDF), and plywood (PY), including various unwanted emission factors or volatile
organic compounds, has been a major emphasis in recent days (VOC). The furniture
business, which is a substantial segment of the wood processing industry, supports all
aspects of human life by providing people with the essentials of life. It is well known that the
advancement of design is dependent on new furniture manufacturing trends. Many
furniture makers are aware of Green Public Procurement (GPP). Bamboo for the furniture
business might be an appropriate raw material in terms of green or eco-friendly principles. It
keeps the carbon stored in for a long period; also, bamboo plants are a key non-wood forest
product that has played an important economic and cultural function for ages. Bamboo is
used to make homes, panels, flooring, and roofing.

Page | 2
Page | 3
 Bamboo
furniture
Happy furniture to you
Bamboo furniture is an Indian online furniture and home décor marketplace. Trendsutra
Platform Services Private Limited is the parent company of the firm, which is based in
Kannur, Kerala. which was started in 2010. work with an aim to offer Clean, Ergonomic, and
Biodegradable Bamboo products at affordable prices. Provide components for affordable
furniture without using plastic, chemicals & other materials. The ultra-comfortable, body
friendly, cushion less affordable furniture for all. Natural bamboo is used to make bamboo
furniture. It contains no harmful chemicals, such as formaldehyde, and will not affect the
human body. Bamboo is a healthy and ecologically beneficial resource since it is a
renewable resource with a quick growth rate. Bamboo furniture comes in a variety of
designs; in addition to tables, chairs, and closets, it may be utilized to create a set of
identically styled furniture that meets people's daily needs. Bamboo furniture is attractive
and adaptable to a wide range of decorating styles. The rustic design is fresh and natural,
the Chinese style is beautiful and simple, and the modern style is relaxing and comfortable.

Bamboo furniture

Type: Private

Industry: Home and bamboo furniture

Founded: June 2010

Headquarters: Kerala, India

Page | 4
Area served: India

Products: Furniture and décor

Email: bamboofurniture3742@gmail.co.in

HISTORY & CULTURE SIGNIFICANCE OF BAMBOO FURNITURE

Bamboo is grown and used all throughout the world, but it is most popular in Asia, where it
is both an important part of the economy and a part of the culture. Several of its unique
characteristics, such as its long life and strong upright position, have been linked to
longevity, hard labour, and honesty, and hence have been symbolised as traits that every
man should possess.

1. Bamboo in Chinese Culture

Because it possesses the most bamboo of any country on the planet, China is known as the Kingdom
of Bamboo. Paintings show that bamboo furniture-making methods were highly developed by the
Song dynasty, similar to the creativity and workmanship shown in wood furniture. Luthans seated on
bamboo meditation seats also demonstrate how common bamboo is associated with austerity and
humility. Bamboo also represents the attributes of strength and endurance; it can withstand the
greatest winds without breaking; its hollow body can be beneficial; and its rising nodules suggest a
fortitude spirit. As a result, bamboo was popular among Confucian scholars.

2.Bamboo in Japanese Culture

Bamboo's Importance in Japanese Culture It Is A Symbol of Prosperity In Japan Because Of Its Sturdy
Root Structure. People have been told for years that if there is an earthquake, they should go
towards the bamboo groves because the bamboo's strong root structure will hold the earth
together. The Bamboo Is Symbolic of Purity and Innocence Because It Is Simple and Unadorned.
When it comes to bamboo, most Japanese people believe it has a very vital energy and grows quickly
and upright. Also, a Character Who Is a True Healer. Bamboo is used by the Japanese to make
blindfolds and fences. Its primary purpose is to keep strangers at bay for security reasons. For almost
1,200 years, Kyoto served as Japan's capital. With a long history of battles, particularly among
military governors in the 15th century. Therefore locals in Kyoto have a tendency to close their doors
to visitors from Raku-Gai. The Bamboo Fence, which runs along the walls, is quite effective at
keeping strangers out.

Page | 5
3. Bamboo in Indian Culture

Bamboo is seen to have fortunate qualities and has religious importance in India. The significance of
bamboo in Indian culture and area is shown in Vedic manuscripts (1500 B.C. to 1000 B.C.) as well as
other works such as Arthashastra. They play an important role in the rituals of several tribes across
India.

THE SYMBOLISM OF BAMBOO

1) Health
Many people consider bamboo to be a symbol of strength, flexibility, and health. Its
strength teaches one how to stand upright, and its flexibility teaches one how to adapt
to the most difficult situations. The combination of these virtues teaches us how to
achieve inner peace and balance in our lives, which benefits our health. Even in practical
ways, bamboo may help one's health. Bamboo, on the other hand, is a fact that is
harmless to the environment, a valuable resource, and is commonly used in the
manufacture of furniture in India. Exploration in the field of bamboo furniture
ergonomics, which may have a huge impact on the seating experience, has been
restricted due to its appearance. Bamboo may be shaped into an enormous bend curve,
allowing the furniture to adapt to a variety of conditions while hot squeezing. As a
result, bamboo can be shaped into a variety of shapes and used to make lounge chairs
and easy chairs for the elderly who suffer from health problems such as back pain.
Except from its one-of-a-kind primary property, bamboo is also skin-friendly and
tolerates regular use. In the winter, it's warm, and in the summer, it's cool. As a result,
act quickly. Developing Bamboo Is A Unique Option for Meeting a Serious Need in the
Family Market. Bamboo's hardness allows it to maintain its shape while resisting cuts
and scratches. It's also often antibacterial and antimicrobial, preventing the growth of
microscopic organisms.

2) Status Symbol
Today's generation considers bamboo furniture to be one of the most elegant and classy ways to
use bamboo, since it blends in with any design and comes in a wide range of sizes. There are
bamboo sofas, dressers, and much more in terms of furniture. Many homeowners choose it

Page | 6
 because of its natural appearance. Bamboo is, in fact, the most cost-effective material available
today, making it an excellent investment.

3) Vaastu Shastra
Bamboos are often associated with luck, flexibility, and resistance. As a result, it is said that
purchasing new bamboo furniture would bring about certain fortunate events. Bamboo is a very
lucky plant in both Vaastu and Feng-Shui. They are said to bring good fortune and protect the
inhabitants of the house from evil forces. Living in a Bamboo House or Shack in One's Dream Is a
Symbol of Humility and a Proclivity to Place Too Much Trust on a Higher Power to Direct One's
Life. Dreaming About Bamboo Furniture in One's Home, Whether It Was Bought in the Dream or
Already Existed, Is Usually Taken as A Positive Sign of Happiness and Good Luck, Especially in
Work and Special Projects. This indicates that he or she is likely to be successful in business
ventures and other endeavours outside of the home, raising his or her status and wealth over
time. New Bamboo Furniture Is Also Symbolic of Inner Balance and Peace, Indicating That He or
She Is Confident in the Direction Their Life Is Going and How to Meet Their Needs and Desires.

PRODUCT CATEGORIES

Types of Bamboo Furniture

Responding to demand, manufacturers are introducing bamboo furniture models that are elegant,
affordable, and available in virtually every style. Savvy consumers with discriminating tastes are
discovering:

Bamboo Chairs
Bamboo Tables
Bamboo Bed
Bamboo Sofas and Loveseats
Bamboo Stools
Baby Carriages
Bamboo Cabinets
Bamboo Dressers
Bamboo Crafts

Page | 7
This furniture comes in a variety of designs that will enhance the elegance of any room for a long
time. Bamboo ceilings, bamboo wall coverings, bamboo flooring, and even bamboo lumber are
available in addition to bamboo furniture. Whether you like bamboo furniture for its appearance,
price, environmental sustainability, or any combination of these factors, you'll discover that it's an
investment that will hold its beauty and value for many years.

BAMBOO FURNITURE BUSINESS MARKET

Bamboo marketing:

Bamboo is primarily traded for raw materials, bamboo charcoal, pulp, paper, and textile,
bamboo panels and floorings, weaving items and crafts, furniture, fuels, edible bamboo
shoots, and so on. The ravines region, on the other hand, trades in bamboo as a raw
material for a variety of purposes. In the ravine area, there are two sorts of marketing. A
community that relies on bamboo for its livelihood buys directly from bamboo producers
such as private growers, government forests, and research organisations operating in the
bamboo field. Collectors who sell in bulk make up the second category. In actuality, bamboo
collectors do not promote their products; instead, they sell them to a client (the
intermediary) who processes them into baskets and other bamboo items. If the aim is for
communities to keep a bigger percentage of the cash created by bamboo, both the
producer and those aiding with market development must change the present process from
selling to marketing at the community level.

In the first situation, when the community is actively involved in the acquisition of raw
bamboo and the sale of bamboo products, there is no marketing difficulty. However, in the
second instance, where collectors are active in the marketing system, there are inherent
challenges. These are some of them:

Limited quantities:

A large number of collectors the modest amounts from each collector lower the price collected by
the intermediary, preventing the collector from getting a bigger share of the overall bamboo profits.
The middleman's services include: One of the unpleasant consequences of a lack of knowledge

Page | 8
about what happens in the marketing channel between when it leaves the collector and when it
reaches the ultimate customer is that the middleman's function and services are misinterpreted or
misrepresented. The intermediary is sometimes seen as the villain, and while exploitation does
occur, the middleman's services should not be forgotten. If the middleman is removed from the
marketing chain, other organisations or agencies must undertake the services that the intermediary
offers (cash advances, transportation, storage, and so on). One possibility is to form collector
cooperatives. In this sense, cash availability and the capacity to supply these services are key
concerns. As a result, the middleman/services traders are proving to be vital.

Major problems in Bamboo Marketing:

Farmers only plant bamboo on marginal land and in private forests, and they do not wish to plant it
with agricultural crops in an agroforestry system because they feel the bamboo canopy reduces crop
yield. Their neighbours also forbid them from planting bamboo along the boundary of their property.
As a result, there is a pressing need to investigate the feasibility of growing bamboo in marginal or
degraded parts of the country. The ravine area is one of these types of sites where bamboo may be
cultivated not just to enhance output but also to provide work to the region's disadvantaged
inhabitants.

1. There is a significant volatility in the daily marketing price, i.e. there is no set pricing. The cost of
bamboo crafts is directly proportionate to the product's quality. Customers cannot afford to buy
bamboo crafts at a premium price due to their limited purchasing power. People are prepared to pay
a low price for a long-lasting product. Farmers that create high-quality products will find it difficult to
sell them at a reasonable price in the market. As a result, farmers are pressuring bamboo craft
makers, posing a difficulty for the commercialization of the bamboo industry.

2. Lack of marketing information system,

3. No guarantee of the bamboo crafts,

4. Lack of Government policy,

5. Lack of institutionalization,

6. Strong competition between the craftsmen,

7. Farmers are hesitant to borrow substantial sums of money to invest in the bamboo industry
because of the high interest rates charged by money lenders.

Page | 9
8. Another issue that discourages the usage of bamboo crafts, particularly in rural regions, is the
abundant availability of low-cost plastic-made items and commodities.

9.Because to a lack of institutional development, such as a collecting centre or a farmers'

association, as well as a long-term marketing network vision.

EXISTING MARKET TREND

The COVID-19 pandemic has slowed the expansion of worldwide sectors, causing widespread
inconvenience for both consumers and sellers. Markets and manufacturing facilities throughout the
world have been shut down, thereby halting the product's manufacture, sale, and promotion. This
has also provided organisations with an option to safeguard their supply chain relationships and
business models in the future. The growing popularity of eco-friendly home décor products is driving
up demand for cane and bamboo furniture. Consumers have been motivated to buy bamboo and
cane furniture as their awareness of utilising eco-friendly and recyclable items has grown. People in
Asia-Pacific nations have more purchasing power thanks to an increase in disposable income. People
are spending more on luxury, comfort, and leisure items than ever before. Consumer spending
habits are changing, and purchasing power is increasing, increasing demand for cane and bamboo
furniture. In 2018, the worldwide bamboo furniture market was worth USD 10.09 billion, and it is
predicted to grow at a CAGR of 5.2 percent from 2019 to 2025. The increase can be linked to
increased infrastructural investments as well as the usage of sustainable raw materials in furniture
manufacturing. Bamboo absorbs 40% more carbon dioxide and emits 35% more oxygen than trees,
resulting in better air quality. The expansion of this industry is expected to be fuelled by increased
awareness of the benefits of employing this material for sustainability.

Restrains of the Market

Factors the restrict the growth of the cane and bamboo furniture market include

• Cane and bamboo furniture’s cannot be used in combination with wooden furniture’s.

• It cannot be left outside in galleries or gardens during the rainy season.

Page | 10
• Bamboo furniture’s are easily damageable and can be cracked easily by putting heavy stuff on it

Page | 11
 DEMAND

In 2018, the global bamboos market was valued at USD 68.8 billion, with a forecast CAGR of 5.0
percent from 2019 to 2025. Due to growing infrastructure investments, greater use of sustainable
building/construction materials, and increased consumer awareness of the uses and benefits of
bamboos, the market is expected to grow throughout the forecast period. Bamboo and rattan
provide a variety of environmental, economic, and social benefits. Bamboo is a renewable resource
that thrives in a wide range of conditions, but favours tropical ones. It produces 35 percent more
oxygen and absorbs 40 percent more carbon dioxide than trees, resulting in significantly improved
air quality. Bamboo growing also aids in carbon sequestration, soil erosion management, and
environmental purification. Tropical rainforests, on the other hand, are home to rattan palms. It's a
rather lightweight, long-lasting, and flexible substance. Rattan may be planted alongside other tree
species, such as fruit orchards and rubber plantations, demonstrating that it can be utilised as a
source of money for farmers. Bamboo and rattan farming are economically viable ways to help
people maintain and support their livelihoods in rural areas. Most Asian and African countries,
including China, India, and Japan, as well as Ghana, Nigeria, and Cameroon, encourage bamboo and
rattan growth. Bamboo and rattan are progressively displacing timber as a preferred material since
they are easier to harvest, transport, and cost less. They're water-resistant and long-lasting by
nature. These benefits have led to the long-term use of bamboo and rattan in furniture, housing, and
handicrafts. Bamboo and rattan are used to make flooring, charcoal, mats, and woven products. As a
result, a variety of commercial applications are predicted to boost bamboo product sales and, as a
result, market growth throughout the projection period. On the other side, the use of toxic
chemicals in the processing of processed bamboos and rattan goods like furniture, flooring, and pulp
and paper is pushing the creation and implementation of more stringent laws and regulations. These
laws might have a big impact on the long-term availability, price, and sales of bamboo and rattan
products. These issues are predicted to represent a threat to market expansion throughout the
forecasted period.

Page | 12
 TARGET SEGMENT

The target market is separated into residential and commercial divisions based on the end
user. Because of its mechanical strength, durability, and ease of availability, the market is
primarily driven by residential applications, which attract customers seeking aesthetic
appeal in interiors and as an alternative for wood. Aside from residential units, the bamboo
furniture industry also caters to commercial establishments such as hotels, businesses, and
recreational spaces. Several businesses specialise in producing ecologically friendly furniture
with bamboo as the primary raw material. Rising consumer demand for rich, natural, and
exquisite interior décor is expected to drive demand for crochet and woven designed
furniture, resulting in market development for bamboo furniture. Customers who desire
classic Bamboo accessories with a twist of modern designs for woven wallpapers, flooring,
furniture, and even bathroom accessories are catered to by the business. Because of its
durability and low weight, which makes it easy to move about, the material is gaining
popularity in both residential and commercial settings.

Residential segment

In 2018, it had the greatest market share, accounting for more than 70% of the total. Due to
rising demand for exquisite furniture to suit living room and bedroom décor, the category is
likely to rise in the coming years. Government-sponsored real estate building, particularly in
metropolitan areas, is expected to bolster growth. Due to the widespread usage of bamboo
furniture for décor, the commercial segment is likely to grow at a considerable CAGR
throughout the forecast period. The expanding hotel industry, increasing number of
eateries, and beach themed cafés, bars, and other recreational locations are all likely to
boost demand.
Global bamboo furniture market share, By end user 2018(%)

Page | 13
 Residential Commercial

Regional Insights

In 2018, Asia Pacific had the greatest market share of almost 59 percent. It is also predicted
to grow at the greatest rate, with a CAGR of 5.8% from 2019 to 2025. China and other Far
Eastern countries account for the majority of growth. In China, rising living standards have
resulted in significant spending in home décor and furniture. The rising popularity of
outdoor furniture such as beach beds, bamboo chairs, rattan chairs, and other items is
expected to boost market growth in China.

7 P’s OF MARKETING MIX

Product:

There is an unmet consumer demand for material help to transfer furniture from one home
to another, and a pan India furniture panel business opportunity exists. Bamboo is the
tallest grass, capable of reaching the height of a tree. Bamboo has gotten a lot of attention

in recent years as the need for raw materials has skyrocketed. Bamboo is one of the most
environmentally friendly materials and is used to make a variety of items including furniture,

cookware, medicine, stationery, and more. In 2018, the worldwide bamboo product market

was estimated to be around Billion. While bamboo is a great alternative to more hazardous
materials, its longevity is always a concern. Bamboo-made items are readily scratched,
water-resistant, and lack material homogeneity. Furthermore, the availability of various
environmentally acceptable alternative materials is a key obstacle to the market's
expansion.

Page | 14
Pricing:
Bamboo product manufacturers are seriously contemplating using internet platforms to
advertise and sell their products. Because it is easily available to a huge consumer base
throughout the world, online retailers have emerged as one of the most advantageous sales
channels in the bamboo goods industry. Bamboo furniture must compete in a very volatile
market thus, the low price may not be viable. However, it refers to its offer as a price tag in
its marketing mix since it is competitive and reasonable.

Place & Distribution Channel:

The bamboo goods market is divided into several categories, with bamboo furniture items
likely to account for a considerable portion of the market in 2018. Furthermore, the bamboo
products market is divided into residential and commercial segments depending on use.
Among which, the commercial segment is expected to increase at a rapid rate in the future
years. Its avenues of dissemination include: (online channels and offline channels). Bamboo
product manufacturers are seriously contemplating using internet platforms to advertise
and sell their products. Because it is easily accessible to a huge consumer base throughout
the world, online retailers have emerged as one of the most beneficial sales channels in the
bamboo goods industry. Bamboo furniture provides a service offering that covers more than
500 cities. It has now been implemented across the country in order to improve consumer
experience and make shopping in its online markets more convenient. Due to the Indian
consumer psychology of inspecting furniture before purchasing, these skilled centres assist
Bamboo furniture in gaining consumer confidence in its product. Customers are attracted to
the home decoration company through experience centres.

Promotion & Advertising Activities:

Bamboo Furniture is widely promoted through various MEDIA TOOLS such as - Print Media
with the help of Posters, Stickers, Handbills, Hoardings, Pamphlets, Graffiti, Handouts.
Electronic Media with the help of Small Video, Cinema, Slides. People Based Media with the
help of Songs & Drama, Street Plays, Road Shows, Folk Media-Puppet shows. Mobilization

Page | 15
Events with the help of Exhibition, Rallies, Human Chains. Behaviour Change Communication
Method with the help of Flip Charts, Role Play Method and Outreach Activities with the help
of Peer Education, One to One Interaction, Group Discussion. Bamboo Furniture is now
heavily invested through advertising as it seeks to increase the level of product awareness.
The marketing strategy is designed to help people make a purchase decision. Most of these
companies advertise it on TV. Once it has gained full awareness among consumers
advertising campaigns later focus more on providing specific benefits such as the look and
design of the product. It ensures its presence is available to people who are actively
researching the Internet to buy furniture and these target groups are contacted through
active marketing channels such as search engines and Social Media. To create a good idea
only high-definition images of products posted on a web page.

People:
It serves to a specific Target audience that includes Upper class Industrialist situated in
various geographic locations characterized by Language, Manner, Nature & Culture.

Physical Evidence:
Bamboo Furniture does not have much in the way of physical evidence as they trade online,
their only tangible piece of evidence is through their online presence which is professional
and looks appealing. This gives the consumer confidence in the Bamboo Furniture.

Process:
Bamboo Furniture make a range of environmentally sustainable products for the people,
with transparency towards the content and production process of all mentioned. Process is
part of the USP for Bamboo Furniture Bamboo Furnitures uses a strong quality check to
provide high quality products to customers at strict prices. This segment appreciates its
vendors and craftsmen, and currently has more than a hundred sales partners who use the
platform to showcase their design and craftsmanship. Detail Survey is undertaken before
finalizing the structure of the Furniture. Camps are organised in the remotest areas for the
Bamboo made product business. Training on group management, cash handling, product
related training (skill up gradation) is provided to educate the people .

Page | 16
Page | 17
 SWOT ANALYSIS OF THE INDIAN BAMBOO FURNITURE

STRENGTH:

 Abundance of bamboo resource

 Fast growing, quick returns
 Multi-purpose species
 Price competitiveness
 Low investments
 Low management cost
OPPORTUNITY:
 Industry oriented skilling
 Incremental market demand
 Landscape restoration
 Climate change mitigation
 Suitable climate & topography

WEAKNESSES:
 Weak data on resource base THREATS:
 Lack of awareness, knowledge &
 Bamboo industry development of
know-how for ecological oriented
neighbouring
bamboo development.
 countries
 Lack of high-quality skilled manpower
 Wrong notions on longetivity of
 Lack of advanced R&D
products Comparing prices to cheaper
 Weak cross sectoral synergy
mass-produced articles (plastics etc)
 Product substitution from wood

Page | 18
 KEY PLAYERS IN INDIAN MARKET

Pepperfry
Pepperfry is an online furniture and home décor marketplace based in India..
Trendsutra Platform Services Private Limited is the parent company of the firm,
which is based in Mumbai, Maharashtra. Everything from a dining table, bamboo
bookcase, and bamboo couch to a bamboo swing chair, bamboo bar stools, and
bamboo outdoor furniture can be found at Pepperfry.

BambooPecker
Their mission is to make a positive influence on the environment and society via
sustainable living designs and solutions. SOCIAL impact by empowering rural people
with functional ideas and a modern aesthetic, and ENVIRONMENTAL impact by

resurrecting traditional sustainable practises.

Utsav Handicraft
Bamboo Basket, Kauna Bags, Cane Basket, Jute Bag, Bamboo Planter, Bamboo Lamp,
Bamboo Mats, Willow Baskets, and many other items are available from Utsav
Handicraft. The company's products are made from high-quality raw materials
purchased from well-known market vendors. These items are created by very
competent professionals with extensive industry knowledge and expertise to assure
top quality. The items available are praised for their solid construction, great
strength, and long life.

LUIT NIRMAN
Luit Nirman is a Guwahati-based company that specialises in engineering design,
contracting, and system development. It was founded in 1985. They strive to provide
Bamboo items that are Clean, Ergonomic, and Biodegradable at an accessible price.
They make components for economical homes without utilising wood, reducing the
need of cement and steel.
In addition, we provide all of our customers space-saving, ultra-comfortable, body-
friendly, and cushion-free furniture. Chairs, tables, beds, bunk beds, sofas, and
benches are available.

Page | 19
 CONSLUTION
For many businesses, the marketing mix and the seven P's have been the dominating
marketing paradigms. Its utility in the marketing of goods and services must be recognised
by marketing managers. Market research, on the other hand, is providing fresh approaches.
Customer retention, engagement, and networking in the industrial, marketing experiences,
business ecosystems, value migration, life cycle, customer interactions, and relationship
marketing, among other trends and criteria, are starting to produce new trends in marketing
theory and practise. Along with pricing, distribution channels, and advertising, the product is
part of the marketing mix. Products can satisfy a need or demand, and they can be offered
to the market in order to entice people to buy, use, or consume them. This includes not just
physical items, but also services, people, places, organisations, and ideas. The term
"worldwide product marketing" refers to both tangible and intangible products that are
offered in the market to meet the wants or wishes of customers. The product is a set of
features and advantages that the client obtains when they buy anything. Given the
importance of the augmented product model, marketing managers should focus on
providing additional services or offers, such as after-sale services, discount offers, attached
gifts, and so on, in order to strengthen customer relationships and establish brand image
and equity among target markets.

When the primary marketing mix 4p's Product, Price, Promotion, and Place are employed, a
firm will be able to succeed at product creation and company development. When the
extended mix is applied, a company outperforms outcomes because they are on the
consumers' side of the market. A company may succeed at product creation and company
development if the major marketing mix 4ps (Product, Price, Promotion, and Place) are
used. Because they are on the consumers' side of the market, a firm that uses the expanded
mix outperforms outcomes.

Page | 20
 References
 Adcock, Dennis, Al Halborg, Caroline Ross (2001), Introduction: Marketing:
principles and practice. p. 16
 Brooke, Michael Z., and William R. Mills (2003), New product development:
successful innovation in the marketplace. New York: International Business Press, Pp.
20 Print.
 Desmet, P. M. A. (2008). Product Emotion. In: H. N. J. Schifferstein and P. Hekkert
(Eds). Product experience (pp. 379-397). Amsterdam: Elsevier, pp. 109-115
 Hochbaum D.S., et al. (2011), Rating Customers According to Their Promptness to
Adopt New Products, Operations Research 59(5): pp. 1171-1183
 Joshi, Rakesh Mohan (2005) International Marketing, Oxford University Press, New
Delhi and New York, pp. 112-118
 Kerin, Hartley and Rudelius (2001), Marketing, The Core, 4th Edition, McGraw Hill
Publishing, pp. 167-169
 Kotler, Philip & Keller, L. Kevin (2012), Marketing Management 14e. Pearson
Education Limited, pp. 252-286
 Ludvigsen, Karl E. (2008). Porsche: Excellence Was Expected – The Comprehensive
History of the Company, Its Cars and Its Racing Heritage. Brooklands Books, pp. 130-
137
 Wilson. R. M. S & Gilligan. C. (2005), Strategic Marketing Management: Planning,
Implementation and Control, 3rd Ed Butterworth-Heinemann
 The 4 Ps of Marketing: A Step-by-Step Guide (With Examples) (neilpatel.com)
 Kannur-based brand Suee aims to bring handloom into the mainstream |
Indulgexpress
 What are the advantages and disadvantages of bamboo furniture and how to
maintain it? - BG·Bamboo (bgbamboo.com)

Page | 21