TERM PAPER OF ESSENTIALS OF MARKETING

Topic- MARKETING PLAN OF REID AND TAYLOR T-SHIRTS

SUBMITTED TO: MR.LOKESH JASRAI (Lect.)

SUBMITTED BY: SUMIT KUMAR ROLL.- RR1814A17 REG. NO. -10805838

ACKNOWLEGMENT

Firstly, i would like to give special thanks to my teacher Mr. LOKESH JASRAI who give me such type of opportunities to write my own views and ideas on a particular topic so that i can increase my knowledge about this topic and i can represent myself as good as i can. Secondly i also thanks all my friends to help me to complete this project at every time.

INTRODUCTION OF RAID AND TAYLOR TSHIRTS:

REID AND TAYLOR T-shirts are multi-functional garment worn by all age groups as innerwear and outerwear. They are simply constructed garments that consist of a front and a back, sleeves and a neckline. A few styles may also have pockets. Many styles are now considered unisex. Fashion maybe reflected in oversize styling, deep armhole, cutoff lengths and fitted body. Seasonal changes in T-shirts maybe reflected in sleeve length, color and fabric weight. Reversible T-shirts may be made with two layers of fabric. Plain T-shirts are often referred to as Blanks for the imprint market. Printed T-shirt, which appeal to both males and females, provide humor, ideas or interests. They provide identity through screen printed or heat transfer applications of lettering, logos and licensed designs. Designs provide intrinsic appeal beyond the intrinsic value of the garment.

MARKETING MIX OF RAID AND TAYLOR T-SHIRTS: (PRODUCT, PRICE , PLACEMENT AND POSITIONING)
PRODUCT:
In simpler terms, product includes all features and combination of goods and related services that a company offers to its customers. So the RAID AND TAYLOR product includes itsT SHIRTS , SHIRTS ,CASUAL APPERALS, etc along with its after-sales services and all are included in the product development strategy of the REID AND TAYLOR . However, a serious criticism can be raised here in terms of how marketing mix analysis will cater for companies such as GLOBUS,WEST SIDE,LEVIS.ADIDAS ,ETS as they don't possess tangible products Product is the most important aspect of marketing mix for two main reasons. First, for manufacturers, products are the market expression of the company's productive capabilities and determine its ability to link with consumers. So product policy and strategy are of prime importance to an enterprise, and product decisions dictate the scope and direction of company activity. Moreover, the market indicators such as profits, sales, image, market share, reputation and stature are also dependent on them. Secondly, it is imperative to realise that the product of any organisation is both a component and a determinant of the marketing mix as it has a

great influence on the other elements of the mix: advertising, personal selling, channels of distribution, physical distribution and pricing. So without proper product policy, a company can not pursue for further elements of marketing mix.

PRICING:
Pricing is basically setting a specific price for a product or service offered. In a simplistic way, price as the amount of money that customers have to pay to obtain the product. Setting a price is not something simple. Normally it has been taken as a general law that a low price will attract more customers. It is not a valid argument as customers do not respond to price alone; they respond to value so a lower price does not necessarily mean expanded sales if the product is not fulfilling the expectation of the customers. Generally pricing strategy under marketing mix analysis is divided into two parts: price determination and price administration (ibid). PRICES OF DIFFERENT T-SHIRTS: HOSLEY NEW ERA- range from Rs.1000 to Rs.8000 FERDOS NEW ERA- range from Rs.200 to Rs.800 Price determination is referred to as the processes and activities employed to arrive at a price for a product including consideration of relative prices of products within the same line, and differences in

price for similar products of differing grades and qualities. Price administration is referred to as the activities involved in fitting basic prices to particular sales situations such as geographic locale, functions performed by customers, position of distribution channel members, or special sales situations. REID AND TAYLOR t shirts is that where different prices are set in different geographical areas considering the difference in patterns of usage as well as varying advertisement costs.

PLACEMENT:
Placement under marketing mix involves all company activities that make the product available to the targeted customer. Reid and taylor company uses various factors such as sales, communications and contractual considerations, various ways of making products available to customers can be used . Reid and taylor involve a whole chain of wholesaler retailers to reach its customers. On a general note, while planning placement strategy under marketing mix analysis, companies consider six different channel decisions including choosing between direct access to customers or involving middlemen, choosing single or multiple channels of distributions, the length of the distribution channel, the types of intermediaries, the numbers of distributors, and which intermediary to use based on the quality and reputation.

Promotion :
Promotional strategies include all means through which a company communicates the benefits and values of its products and persuades targeted customers to buy them . The best way to understand promotion is through the concept of the marketing communication process. Promotion is the company strategy to cater for the marketing communication process that requires interaction between two or more people or groups, encompassing senders, messages, media and receiver.In Reid and taylor company the advertising agency, or both; the media used in the process be salesmen, newspapers, magazines, radio, billboards, television and the like. The actual message is the advertisement or sales presentation and the destination is the potential consumer or customer, in this t shirt users.

MARKETING STRATEGY OF RAID AND TAYLOR T-SHIRTS (SEGMENTATION,TARGETTING AND POSITIONING):

1. SEGMENTATION: (a )GEOGRAPHICAL SEGMENTATION: The company has made t shirts according to the climate condition of areas where people live. Because it os trend that t shirts is only for summer days,by overcoming this company have made wollen trendy t shirts for people living in hilly areas.

(b) GENDER: The company has exclusive products for men and womens both,so that company can capture more marketing area,in the exclusive showrooms of the company there are different segments of men and women so that both can select product according to their needs. (c) AGE: The company has products for all the ages I;e. kids ,adults,etc. So that it has wide range of product line. (d) INCOME LEVEL: Taking in the mind to target the whole customer the company has two brands, first brand HOSLEY for higher income status or those having a large amount of money to spend and FERDOS for lower income status or for those who are not able to bye costly things. 2. TARGETTING: (a) As the company is also concern towards the people in hilly areas.even though it is more concentrated towards targeting the people living in warm climates. Because they are the ultimate customer of t shirts.

(b) The company have different brands for men and women,so that both feels that thay are choosing their own brands,not the substitute of one thing. (c) The company is more targeted towards its youth customers, because they are the only one who repeadly wants a change in their taste and preference so that the company can do more experiments on the products related to them. (d)As the company wants to have a good brand image so it is more targeted towards the skimmed marketing as it has more premium markets. 3.POSITIONING: The RAID AND TAYLOR has a brand In the in the mind of people,by above strategies that it has product for all the peoples. So people adopt its product very easily and friendly. The company has main target that is COMFORT WITH DURABILITY,that hits the mind of people more, that if I will purchase its products then it will give me a trendy look which also last for a long time. The theme of the is also that it always genetare product with new generation. So consumers has in the mind that whatsoever product I am going to purchase will always be of new generation look.

Working with others :

As mentioned above, the most successful creative businesses take a T-Shirts and Suits approach to business development, combining creative talents with best business practice. Very often this is achieved by a partnership or larger team. Very soon, therefore, the question arises about the ownership and control of the enterprise as more people become involved. Company structures can offer various possibilities for ownership and control through the issuing of shares to stockholders and the appointment of company directors. Though company law differs from country to country, there are usually a range of structures that can be created within the framework of a limited company, including not for profit (more accurately non-profit-distributing) options and constitutions suitable for co-operatives and social enterprises.

SWOT Analysis :

1.Strengths: REID AND TAYLOR are the

original, authentic jean. They were a hit with

baby boomers decades ago when they were in their teenager years. Another is that they stood for something beyond profit. The family took pride in providing quality products, personal service, and fair treatment. The family name and tradition was associated with respect for peoplecustomers, employees, and the community. 2.Weaknesses:The company began to rapidly lose market share to newer, trendier, more aggressive brands and designer labels. The REID AND TAYLOR brand lost luster and relevance to the younger generation. REID AND TAYLOR T shirts are perceived to be their parent's t-shirts. For that reason they will wear anything else but a pair of REID AND TAYLOR. This perception is an ongoing marketing problem and the company is struggling to find a way to reverse the brand's fortunes. Their tradition of promoting within may have started their dark side. Long-term managers became used to doing things a certain way, and kept new ideas and new blood at a distance. Since the company was so committed to its employees, it kept the younger recruits with new ideas from finding a place. They were so inwardly focused, that they missed the great changes occurring in the fashion world. Their main flaw was that they did not have a clear developmental

strategic plan, did not pay attention and learn new technologies, and did not keep track of the competition, market and consumer tastes.

3.Opportunities: In todays society, the

consumer is becoming more leisure oriented, and wears T-shirts more often. REID AND TAYLOR is still on top, and hold the majority of the market share in T SHIRT sales. Their biggest opportunity is to expand their market. Mega retailers like K-Mart, Wal-Mart, and other large retailers do not currently sell REID AND TAYLOR. It would be a great opportunity to the company.

Threats: Styles change as fast as people

do, and brand name items are the main things to be measured. So it has a threat of being old. Competitors: GLOBUS, WEST SIDE , LEVIS , PANTALOONS , etc. CONCLUSION: As the company is doing all the perfect
things to satisfy its customers still it has to work continuously because change in the fashion world is constant and anyone can switch to other brand if he/she done not find any new thing new in the product. And by that way company can satisfy its customers systematically.

REFRANCES:
1.www.google.com 2.www.wikipedia.com 3.www.scribd.com PHILIP AND KOTLER MARKETING MANAGEMENT