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Siyarams – Furnishing Market Analysis & Consumer Trends Submitted by: Nawaf Ghansar Batch: MMS 2009-11 Rizvi Institute of Management Studies &
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Page 1: Siyarams Summer Project

Siyaram’s – Furnishing Market Analysis & Consumer Trends

Submitted by:

Nawaf Ghansar

Batch:

MMS 2009-11

Rizvi Institute of

Management Studies &

Research

Page 2: Siyarams Summer Project

Siyaram’s – Furnishing Market Analysis & Consumer Trends

CERTIFICATE

This is to certify that Mr. Nawaf Ghansar, student at Rizvi Institute of Management

Studies & Research; M.M.S III bearing Roll No. 70 and specializing in Marketing has

successfully completed the project titled

“Siyaram’s - Furnishing Market Analysis & Consumer Trends”

under the guidance of Prof. Aditya Rao in partial fulfilment of the requirements of

Master of Management Studies by University of Mumbai for the academic year 2009-11.

__________________ __________________ __________________

Dr. Kalim Khan Prof. Aditya Rao Prof. Umar Farooq

Director Summer Project Guide Academic Coordinator

Rizvi Management Institutes Rizvi Management Institutes Rizvi Management Institutes

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

ACKNOWLEDGEMENTS

The success of this project depends largely on the encouragement and guidelines of

many. I take this opportunity to express my gratitude to the people who have been

instrumental in the successful completion of this project.

I take immense pleasure in thanking Dr. Kalim Khan, Director – Rizvi Institute of

Management Studies & Research, for having permitted me to carry out this project work.

I wish to express my deep sense of gratitude to my mentors at Siyaram’s, Mr. Parvez

Alam (Asst. General Manager - Marketing) for his able guidance at each step and useful

suggestions, which helped me in completing the project work, in time. I would also like to

thank the entire Siyaram’s team in the Furnishing Department and others for all their

valuable assistance in the project work and their timely inputs. Besides, I would like to thank

the staff of Siyaram’s for providing me with a good environment and facilities to complete

this project.

The guidance and support received from all the team members who contributed and are

contributing to this project, was vital for the success of the project. I am grateful for their

constant support and help.

Words are inadequate in offering my thanks to my Summer Project Guide – Prof.

Aditya A. Rao for his constant feedback, encouragement, patience and cooperation in

carrying out the project work.

Finally, yet importantly, I would like to express my heartfelt thanks to my beloved

parents for their blessings, my friends/classmates and relatives for their help and wishes

for the successful completion of this project.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

TABLE OF CONTENTS

TOPIC # PARTICULARS PG #

1 Executive Summary 52 Introduction – Company Profile 63 Industry overview 94 Objectives of the study 105 Research Methodology 116 Analysis of data 127 Recommendations and conclusions 448 Appendix 459 Bibliography 51

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

EXECUTIVE SUMMARY:The end goal of this project is to find out the current performance of the major players

in the furnishing industry in the states of Chhattisgarh, Jharkhand and Orissa and also to find out the consumer preferences.

For this a study was undertaken through which responses were collected from furnishing retailers and consumers of furnishing products especially upholstery and curtain fabric so as to find out how Siyaram’s could venture into the above mentioned markets.

To understand this, questions were asked on the material, colour, price, shopping preferences of the consumers. With the data collected we wanted to show an appropriate method through which Siyaram’s could enter into the three states of Chhattisgarh, Jharkhand and Orissa.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

INTRODUCTION:Among the creators of fashion and fashion trends in India, one name stands head and

shoulders above the rest, a company that has stayed contemporary with a vision well-focused on the future.

Siyaram’s, a part of the Rs.1250 cr. well diversified Siyaram Poddar Group, is one of the largest producer of fancy blended suiting’s and shirting’s in India producing 3.00 cr. meters annually and is reputed to bring new designs in to the market faster than any other manufacturers.

Siyaram’s high-tech plants at Tarapur & Silvassa are the most modern plants where latest shuttle-less Dornier Rapier, Sulzer Projectile & Toyoda Air Jet weaving machines with electronic dobby has been incorporated. The world-class processing-cum-finishing plant at Tarapur is one of the latest and most modern plants in the country equipped with machineries imported from Japan, Italy, U.K., Germany and Switzerland etc. This is the only plant in India which can process various blends like polyester-viscose, poly-wool, polyester-cotton, 100% cotton and 100% polyester, under one roof. Siyaram is the first company to introduce Relaxed Finishing System – RF 2000 in India.

In the year 1995 Siyaram’s had tied up with J.HAMPSTEAD, England for marketing of very fine premium wool suiting in India. These suiting’s are woven from the exclusive and rich natural fibres – merino wool, cashmere, kidmohairwool and wool silk. Looking to the increasing demand for the wool blended suiting’s, Siyaram’s has started manufacturing of finest wool blended suiting’s under J.HAMPSTEAD brand using fine micron merino wool imported from Australia and super fine polyester with technical assistance from J.Hampstead.

Siyaram’s also launched world’s all-in-one fabric `FEATHERZ’ which is created from speciality yarns made of superior micro fine fibres. This suiting is available in varied premium blends of Cotton, Flex, Poly/Visc, Linen Lycra etc.

MISTAIR – an established brand is also from the house of Siyaram’s. Mistair is highly popular today among young generation because it keeps introducing innovative and fashionable suitings from time to time. The sub brands introduced by Mistair are – Luxuria, M-brace, Envogue, Lords & Kings, Breathers & Hi-flier.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

In FY07, it formed two subsidiaries namely Siyaram Polycote Ltd and Oxemberg

Clothing Ltd. The company operates five weaving plants, two yarn plants, and two

readymade garment plant spread across Maharashtra and Gujarat. It has an installed capacity

of 409 looms, 616 stitching machines, and 4,500 tons of yarn dyeing capacity, of which 1,500

tons were installed in FY07.

Siyaram Silk has also ventured into retail, opening a few shops where all its brands

will be under one roof. Siyaram Silk exports to countries in Europe, the Middle East, Africa,

Australia, America, and Latin America. Siyaram Silk Mills is the market leader in the

Polyester Viscose (PV) segment, with a reputation of ushering in the latest fashion trends. It

is one of the largest players in the market with a weaving capacity of over 25 lakhs meters

every month. Siyaram is one of the pioneers in the Indian fashion industry and after over 25

years in the industry, it still ranks amongst the top companies in India.

Siyaram is involved in the manufacture of synthetic yarns and specialized fabrics like

Polynosic and Tencel. Equipped with the state-of-the-art weaving machines, Siyaram’s

ensures that the fabric produced is flawless. Siyaram has one of the most modern processing

and finishing plants in India. It is equipped with the latest world-class machinery imported

from Europe. Superior quality is the hallmark of Siyaram's fabrics.

SSML spends INR 180 Million for the brand building exercise. The advertising campaigns of the company have effectively built a positive image placing all its brands - SIYARAM’S, MISTAIR, J.HAMPSTEAD, FEATHERZ & OXEMBERG up front in dress circles.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Prominent sporting personalities like M. S. Dhoni, Boris Becker, Leander Paes, Mahesh Bhupati and Geoffrey Boycott have been associated with Siyaram’s. Recently in March 2010, Siyaram Silk Mills has added a shining star to its existing galaxy of brand ambassadors by signing on the young boxing sensation Vijender Singh as their new face. Singh will represent Siyaram’s brands -- Messari, Elanta and Tropez suiting’s.

Oxemberg, the formal and semi-formal apparel brand from Siyaram Silk Mills, has roped in Bollywood actor Neil Nitin Mukesh as its brand ambassador. This was done to reinforce the positioning and concept of ‘‘Body Music -- Clothes that move to my rhythm” -- Oxemberg’s tagline.

BRAND AMBASSADORS OF SIYARAM’S

Boris Becker – Body care fabric of

Siyaram’s

Face of Siyaram’s corporate brand

Priyanka Chopra - J Hampstead

Neil Nitin Mukesh - Oxemberg

Vijender Singh - Messari, Elanta and

Tropez suiting’s

Associated with the Siyaram’s brand

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

INDUSTRY OVERVIEW:Home furnishing industry in India is under the purview of the textile industry in India;

which is one of the largest segments of the Indian economy. The Indian textile industry accounts for India’s industrial production. This industry has successfully provided employment to a large chunk of India’s population. India is now one of the global leaders in cotton production and is leading the way in using organic dues and fibres.

India remains one of the major exporters of cushion covers, bed and bath linen when compared to market worldwide. India is renowned for its spectacular range of home furnishing, which includes curtains, upholstery and sheers etc. India is powered by years of experience skilled professional, state-of-the-art manufacturing & finishing machinery and designing equipment.

Post liberalization, the Indian government has opened up opportunities for FDI and the industrial environment is favourable for number of industries to flourish. The real estate boom accompanied by rising incomes has especially contributed to a large number of Indian households opting for home improvements and home furnishings.

Spinning remained a household job in most rural areas till recently. Mahatma Gandhi brought handlooms back into focus during the country’s struggle for independence as a way to resist the foreign rule in India. Although with the introduction of manmade fibre which is more durable and affordable, a large segment of market has been affected yet handloom home furnishing remains a favourite profession for many.

Production centre for the various textiles used in home furnishing industry have remained the same. Among the most popular home furnishings made in India are for floor covering such as carpets, rugs and window dressing.

Overall industry of home furnishing of India is approximately 30,000cr. share of window dressing and upholstery etc. would be is approximately 30%. So, industry size for curtains and upholstery is approximately 9,000cr. , out of which approximately 75-80% share has been occupied by unorganized sectors.

Total industry turnover of organized sectors would be (Indian domestic consumption) approximately 800cr. Out of this almost 45-50% market share has been occupied by only two players i.e. G.M. and D.C. Share of unorganized sector is 2,750 crores and is decreasing day by day and getting converted in to organized sector at 4-5% annually. After the introduction of CUT SERVICE format, it is expected to double in the next 2-3 years.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

OBJECTIVE OF THE STUDY:The objective of the project is:

1. To know the opinion of the retailers of Chhattisgarh, Jharkhand and Orissa regarding the market distribution.

2. To study the retailers buying behaviour with reference to curtain fabric.

3. To understand consumer opinion regarding curtain fabric.

4. To understand the consumer buying behaviour.

5. To know the approximate demand of curtain fabric in Chhattisgarh, Jharkhand and Orissa.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

RESEARCH METHODOLOGY:Research Design : Quantitative Exploratory as much is not known about these markets.

Sampling Technique : Convenience Sampling

Sampling Area : Chhattisgarh, Jharkhand & Orissa

Size of Sample : Retailers – 20 in Chhattisgarh, 17 in Jharkhand and 13 in Orissa.

Consumers – 21 in Chhattisgarh, 15 in Jharkhand and 13 in Orissa.

Limitations:

The sampling method used for this project had to be convenient sampling as much was not known about these places.

Not many retail outlets for furnishing are there in these states thus restricting the size of the sample.

Data collection strategy:

The questionnaire method was used to collect data. Interviews were conducted face to face. The questionnaire was designed on a quantitative model.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

ANALYSIS OF DATA

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

ANALYSIS OF RETAILERS:Question – How many brands of curtain fabrics do you stock?

Chhattisgarh Jharkhand Orissa

Sample Size 20 17 13

Average 5.95 8.18 6.08

Base: All figures mentioned are in numbers.

Interpretation:

The probability that retailers in Jharkhand would keep Siyaram’s brand is more as they tend to stock a variety of brands.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – If you sell 100 curtains, how many are plain, floral, textured, stripes, geometric or others?

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

In Chhattisgarh, the Stripes pattern is in more demand but there is some or the other market for all kinds of patterns. Thus it proves to be a good market in which a pattern can be introduced.

Floral pattern is widely used in Jharkhand and Orissa.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – If you sell 100 curtains, how many are cotton, silk, polyester or others?

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

Polyester fabric is dominant in these markets. Orissa does have a considerable large market for Cotton curtain fabric. Silk fabric curtains consumption increases as we move from east to central India.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – Are the sales seasonal or festive?

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

Sales are no longer dependent on festivals as far as furnishing is concerned. Orissa market sales still seem to depend on festivals to an extent.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – What is the price range (per meter) of the curtains which sell the most?

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

Sales in the “Less than Rs. 100” per meter range increases from central to eastern India.

Sales in the “Rs. 101 – Rs. 300” per meter range decreases from central to eastern India.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – Could you please provide us with the approx. quantity sold (per month)?

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

Jharkhand has retailers who have large sales and will prove a good market for Siyaram’s to enter into.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – Do you deal with Cut Service format?

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

Chhattisgarh has accepted and uses the Cut Service format almost twice the time being used in Jharkhand or Orissa.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – What is the delivery schedule of the distributor’s for cut service?

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

Chhattisgarh and Orissa manage to get their delivery more quickly due to their nearness to the main markets of Mumbai and Kolkata.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – What is the delivery schedule of the distributor’s for roll format?

Chhattisgarh Jharkhand Orissa

84.488.2 84.6

5.2

11.8

7.7

5.2

7.75.2< 15 days 16 - 30 days 31 - 45 days 46 - 60 days

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

The delivery for most retailers across the three states is the same, as roll format is usually sent in bulk through trains.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – Which format do you prefer to show patterns to the customers?

Chhattisgarh Jharkhand Orissa

405.9

20

40

94.1 100

Catalog 2.5 mtr samples Rolls

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

The Cut Service format is preferred in Chhattisgarh and not in the other two states. In Orissa, the only preferred format is the Roll format.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – What width of curtains do you sell?

Chhattisgarh Jharkhand Orissa

85 88 77

15 12 23

48" 54"

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

Across the three states of Chhattisgarh, Jharkhand & Orissa the 48 inch curtains are sold the most.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – Which brands catalogs do you keep?

Siyaram's GM Dicitex Copper Others0

4

8

12

Chhattisgarh

Furnishing brands

Num

ber o

f ret

aile

rs

Base: All figures mentioned are in numbers.

Sample: 20 retailers from Chhattisgarh.

Siyaram's GM Dicitex Copper Others0

1

2

3

Jharkhand

Furnishing brands

Num

ber o

f ret

aile

rs

Base: All figures mentioned are in numbers.

Sample: 17 retailers from Jharkhand.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Siyaram's GM Dicitex Copper Others0

1

2

3

Orissa

Furnishing brands

Num

ber o

f ret

aile

rs

Base: All figures mentioned are in numbers.

Sample: 13 retailers from Orissa.

Interpretation:

GM and Dicitex catalogs are widely available in Chhattisgarh and Jharkhand. But in Orissa Siyaram’s is on par with the market leaders.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – Would you like to keep Siyaram’s catalogs?

Chhattisgarh Jharkhand Orissa

10088

45.5

12

54.5

Want Don’t want

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

Demand for Siyaram’s catalogs is there in Chhattisgarh and Jharkhand but not in Orissa. This is more due to the fact that Cut Service format does not work in Orissa.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – How long does a customer take to finalise his/her purchase?

Chhattisgarh Jharkhand Orissa5 11.76

46.1545

70.59

46.1550

17.65 7.6915 - 30 30 - 45 > 45

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

As we go from central to eastern India, it can be noted that the time to purchase curtains keeps on decreasing. While people in Chhattisgarh may take more than 45 minutes or even a couple of days, most people in Orissa manage to decide on their purchase in less than 15 minutes.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – How long does a customer take to finalise his/her purchase?

Chhattisgarh Jharkhand Orissa

10071 69

29 31

Male Female

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

All three of the markets have women who decide on the furnishing buying decision. Thus it becomes vital to attract them or make advertisements targeting the women consumers.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – Do you think the brand name of Siyaram’s will positively influence the customer’s choice?

Chhattisgarh Jharkhand Orissa

75 71 69

25 29 31

Yes No

Base: All number in percentages.

Sample: 20 retailers from Chhattisgarh, 17 from Jharkhand & 13 from Orissa.

Interpretation:

Siyaram’s brand name will positively impact the customers across the three states especially because it is the only recognized brand in the furnishing industry.

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Question – According to you curtains are:

Chhattisgarh Jharkhand Orissa14.3

46.7

83.4

4.75

53.3

16.6

80.95

Necessity Lifestyle Both

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

For consumers in Orissa curtains are a necessity. Thus it will not prove to be a good market for Siyaram’s as its products are priced a bit higher. On the other hand, Chhattisgarh and Jharkhand will prove to be an equally good market.

Question – How often do you change the curtains in the house?

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Chhattisgarh Jharkhand Orissa

71.553.4

66.6

28.540

33.46.6

Once in 2 yrs 2 - 4 yrs 4 - 6 yrs

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

Most of the consumers across the three states change their curtains every two years thus providing a good market.

Question – Which colour shade of curtains do you prefer the most?

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Chhattisgarh Jharkhand Orissa9.5

33.3 33.414.3

26.6 33.376.2

40.1 33.3

Light Medium Dark

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

The preference for Dark color shade curtains decreases from Chhattisgarh, to Jharkhand, to Orissa.

Question – What price range do you prefer?

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Chhattisgarh Jharkhand Orissa

42.7

40.1 66.833.3

26.6 16.614.59.5

33.316.6

< Rs. 100 Rs. 100 - Rs. 300Rs. 300 - Rs. 500 Rs. 500 - Rs.1000> Rs. 1000

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

The most popular price range is between Rs. 100 – Rs. 300. Thus most of the designs that Siyaram’s comes out should be between this range.

Question – When do you prefer to purchase curtains?

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Chhattisgarh Jharkhand Orissa

28.553.4 41.6

4.75

66.7546.6 58.4

Occasion Season As per need

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

In Chhattisgarh and Orissa the purchase of curtains depends on when the consumer feels the need. In Jharkhand, the majority of the sales depend on festivals.

Question – When do you prefer to purchase curtains?

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Chhattisgarh Jharkhand Orissa

28.553.4 41.6

4.75

66.7546.6 58.4

Occasion Season As per need

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

In Chhattisgarh and Orissa the purchase of curtains depends on when the consumer feels the need. In Jharkhand, the majority of the sales depend on festivals.

Question – Do you look for discounts or other offers before purchasing curtains?

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Chhattisgarh Jharkhand Orissa

3853.4 58.4

6246.6 41.6

Yes No

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

Sales in Jharkhand and Orissa are more dependent on discounts being offered. In Chhattisgarh, the consumers do not look for discounts before making their purchase for furnishing products.

Question – Would you prefer to buy curtains which are branded or unbranded?

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Chhattisgarh Jharkhand Orissa

85.766.7 66.6

14.333.3 33.4

Branded Unbranded

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

The demand for branded curtains is comparatively lesser in Jharkhand and Orissa than in Chhattisgarh.

Question – What are the main attributes you consider before you purchase curtains?

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Chhattisgarh Jharkhand Orissa

1940 33.3

28.5

38.2

6.7

16.6

14.3 13.3

50.1

40

Family & Friends Family & TVMagzine & Designers TV & MagzineNot Influenced

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

Television and Magazine are the major influence factors in Chhattisgarh. In Jharkhand, friends and family are the major influencers. In Orissa, most of the consumers are not influenced on external factors.

Question – Have you seen catalogs for curtains in furnishing retail shops?

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Chhattisgarh Jharkhand Orissa

57.233.3

50

42.866.7

50

Yes No

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

Consumers in Jharkhand have not seen many catalogs as compared to consumers in Chhattisgarh and Orissa.

Question – How many shops do you visit before finalising your purchase?

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Chhattisgarh Jharkhand Orissa

38.2 33.4 25

42.833.3 58.4

1933.3

16.6

1 2 3 or more

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

The number of consumers who visit up to 2 retail shops is much more. This means they stick to their retail shops from which they might be regularly buying and thus will be dependent on the retailer’s choice of brand.

Question – Are you aware of the brand Siyaram’s?

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Siyaram’s – Furnishing Market Analysis & Consumer Trends

Chhattisgarh Jharkhand Orissa

100

86.6

100

13.4

Yes No

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

Consumers are well aware of the brand name Siyaram’s thus the company will only have to make announce their presence in furnishings. Since it is the only consumer recognized brand in the industry, the company will be able to capture the market share.

Question – Are you aware of the brand Siyaram’s?

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Chhattisgarh Jharkhand Orissa

100

86.6

100

13.4

Yes No

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

Consumers are well aware of the brand name Siyaram’s thus the company will only have to make announce their presence in furnishings. Since it is the only consumer recognized brand in the industry, the company will be able to capture the market share.

Question – Are you aware of the brand Siyaram’s in furnishing?

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Chhattisgarh Jharkhand Orissa

100 10083.4

16.6

Yes No

Base: All number in percentages.

Sample: 21 consumers from Chhattisgarh, 15 from Jharkhand & 13 from Orissa.

Interpretation:

Most of the consumers are not aware of Siyaram’s presence in furnishings across the three states.

RECOMMENDATIONS:

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Siyaram's need to make the customers aware about its presence in furnishing.

Females are the one who make the final purchasing decision in furnishing. Thus

Siyaram’s should find a brand ambassador with whom the females can easily relate to.

E.g.: someone from television or Twinkle Khanna who is associated with furnishing

as she is an interior designer herself.

Show Siyaram’s furnishing products being used in top television soap operas.

Position furnishing products as a lifestyle commodity & encourage consumers to

invest in furnishing their houses.

Open Siyaram’s retail outlet in at least each of the state’s capital.

To capture markets with low purchasing power, Siyaram’s should come out with a

cheap range or product line under a different brand name.

Come out with innovative designs to compete with market leaders GM & Dicitex.

Improve the distribution channel so the delivery system can be speeded up.

Give the catalogs out for free to the retailers.

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APPENDIX

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Retailer's QuestionnaireQ1. What is the name of the retailer's shop?_____________________________________________________________

Q2. Where is the location of the retailer's shop?_____________________________________________________________

Q3. How many brands of curtains fabric do you stock?_____________________________________________________________

Q4. Which brand of curtain fabric is sold the most?_____________________________________________________________

Q5. What is the name of the distributors from who you purchase curtain fabric?__________________________________________________________________________________________________________________________

Q6. If you sell 100 curtains, how many are:

Colour Shade Qty Pattern Qty Material Qty

Light ________ Plain __________ Cotton __________

Medium ________ Floral __________ Silk __________

Dark ________ Textured __________ Polyester __________

Leaves __________ Others __________

Stripes __________

Geometric __________

________ Others __________ __________

Total 100 Total 100 Total 100

Q7. Which colour of curtain fabric sells the most?_____________________________________________________________

Q8. Are the sales: Seasonal Festive

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Q9. What is the price range (per meter) of the curtains which sell the most? Less than Rs. 100 Rs. 101 – Rs. 300 Rs. 301 – Rs. 500 Rs. 501 – Rs. 1000 More than Rs. 1000

Q10. Could you please provide us with the approximate quantity sold (per month)?_____________________________________________________________

Q11. Do you deal with cut service format? Yes No

Q12. What is the delivery schedule of the distributor's for cut service? Less than 2 days 2 – 3 days 3 – 4 days 4 – 5 days More than 5 days

Q13. What is the delivery schedule of the distributor's for roll format? Less than 15 days 16 – 30 days 31 – 45 days 46– 60 days More than 61 days

Q14. Which format do you prefer to show patterns to the customers? Catalogs 2.5 meters cut samples Rolls

Q15. What width of curtains do you sell? 48’’ 54’’ 110’’

Q16. Which brand catalogues do you keep? Siyaram's Others; Specify: ____________________________________ Don't keep catalogs

Q17. Would you like to keep Siyaram’s catalogues? Yes No

Q18. How long does a customer take to finalize his/her purchase? Less than 15 min 15 – 30 min 30 – 45 min More than 45 min

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Q19. Who mostly decides on the final purchase? Male Female

Q20. Do you think the brand name “Siyaram’s” will positively influence the customer’s choice?

Yes No

Q21. Which brand do you push the most to your customers?_____________________________________________________________

Q22. What is your approximate turnover ratio of Cut sales v/s sales of Rolls?_____________________________________________________________

Q23. Any suggestions?_____________________________________________________________

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Customer's QuestionnaireQ1. Customer's name: _________________________________________

Q2. Customer’s gender: Male Female

Q3. Which age group do you belong to? Less than 25 yrs 25yrs – 30 yrs 30yrs – 35 yrs 35yrs – 40 yrs 40 yrs and above

Q4. Please specify your annual family income group? Less than 3 lakhs 3 lakhs – 5 lakhs 5 lakhs – 7 lakhs 7 lakhs – 10 lakhs 10 lakhs and above

Q5. According to you curtains are: Necessity Lifestyle

Q6. How often do you change the curtains in your house? Once in 2 years 2 – 4 years 4 – 6 years More than 6 years

Q7. What are the main attributes you consider while purchasing curtains? Design Price Quality Brand name Others

Q8. Which colour shades of curtains do you prefer the most?

Light Medium Dark

Q9. What price range do you prefer?

Less than Rs. 100 Rs. 101 – Rs. 300 Rs. 301 – Rs. 500 Rs. 501 – Rs. 1000 More than Rs. 1000

Q10. When do you prefer to purchase curtains? Occasions Seasons As the need arises

Q11. Do you look for discounts or other offers before purchasing curtains? Yes No

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Q12. Would you prefer to buy curtains which are? Branded Unbranded

Q13. Who influences your decision to purchase curtains? Friends Family & Relatives TV Serials Magazines Interior Designers Others: Specify______________ Not influenced

Q14. Have you seen catalogues for curtains in retail shops, if yes then specify? Yes No

_____________________________________________________________

Q15. How many shops do you visit before finalizing your purchase? One Two Three or more

Q16. Are you aware of the brand Siyaram's? Yes No

Q17. Are you aware of the brand Siyaram's in furnishings? Yes No

Q18. When did you make your last purchase of curtains and upholstery?_____________________________________________________________

Q19. Any suggestions?__________________________________________________________________________________________________________________________

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BIBLIOGRAPHY

Books:

Strategic Market Research: A Guide to Conducting Research by Anne Beal

Questionnaire Design: How to Plan, Structure and Writing by Ian Brace

Market Research in Practice by Paul Hague

Websites:

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