ICI VINIL-Principles of marketing
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This document provides details about the final marketing project of students from Punjab College of Information and Technology. The project is about the wall covering brand ICI Vinil produced by ICI Pakistan Limited. The summary includes an analysis of ICI Vinil's current market situation, competitors, strengths, weaknesses and proposed marketing strategy. The strategy discusses pricing for different target segments, distribution channels across major cities of Pakistan, and promotional activities through various media.
ICI VINIL-Principles of marketing
- 1. PUNJAB COLLEGE OF INFORMATION AND TECHNOLOGY SATELLITE TOWN,GUJRANWALA. FINAL PROJECT M.COM SEMESTER 1
- 2. PRINCIPLE OF MARKETING DEFENDERS GROUP MEMBERS: FATIMA 06 NEELAM (L) 10 BENISH 11 IQRA 16 FAREEHA 17
- 3. DEDICATION WE DEDICATE OUR PROJECT TO OUR RESPECTED PARENTS AND TEACHERS AS WE ARE HERE BECAUSE PF THEIR PRAYERS. GOD BLESS THEM (AMEN)
- 4. ACKNOWLEDGEMENT MAM KHADIJA, CHAIRMAN OF WALL WOOD LAHORE AND QAZI ALUMINUM GUJRANWALA.
- 6. COMPANY PROFILE • It was formed on December 1926. • Four British chemical companies • Set up in Pakistan 1952, Karachi.
- 7. • 2 January 2008 acquired by AKZO NOBEL. • Based in Amsterdam • Largest producer of paints & coating. • Major manufacture of speciality chemicals. • 75.81% stakeholder
- 8. • Current profits 269.6 million • 69% lower compared with 2011
- 9. • Company decided to lunch wall-coverings (also known as wallpapers) • By the name of ICI VINIL
- 10. PROMOTION Promotion means any activity that communicates merits of the product & persuades target customer to buy it.
- 11. PROMOTIONAL STRATEGY • Word of mouth • Free samples • Discounts • Bonuses ‘‘umera return tickets’’ PROMOTIONAL MIX • Television • Radio • Print advertisement • Outdoor advertisement
- 19. PROMOTIONAL TARGETING Category A - elite class Category B -upper-middle class Category C -middle-middle class PROMOTIONAL BUDGET APP. 50 lacks
- 20. PRODUCT
- 21. Product strength: •ICI has good market reputation, customer of ICI are loyal. •More than 50 range of colors and design. •More durable then paints. •Color and design can be selected according to the mood of customer. Product weakness • Lack of knowledge about what is wall covering. • Where it is available. • Not easily affordable to the customer of limited income. • People prefer to use paint, panel wood walls.
- 23. B-C-G ANALYSIS
- 25. Current situation Nature of buying behavior: • The customer in wall covering market buy the product by using complex buying behavior. Demographic: • Target market age group is 3-12, 13-30 &30- 69 years both male and female. • This consists 56.9%( male 48214298; female 46062933) of total population Psychographic: • The persons in our target market are conscious about status and they want an image in the mind of others. Buyer motivation and expectation: • Huge variety of decorating options. • Hundreds of patterns, colors and design. • Easy to clean. Wall covering fulfills the expectation of consumer of durability, wide range of colors and design etc. Loyalty segment: • Our customer are loyal with the brand ICI due to quality products and reasonable price.
- 26. CURRENT SITUATION MACRO ENVIRONMENT •ECONOMIC SITUATION •INFLATION •UNEMPLOYMENT
- 27. CURRENT SITUATION MCROENVIRONMEN •POLITICAL INSTABILITY •LAW AND ORDER •TECHNOLOGY
- 28. MARKET •PSYCHOGRAPHIC PROFILES •BEHAVIORAL PROFIL OCCASION •RE DECORATION OF HOUSE •DESIGNING A NEWLY CONSTRUCTED HOUSE •MARRIAGE OR FESIVALS
- 29. COMPETITOR’S STRENGTH •BRAND NAME •HIGH BUSINESS VOLUME •WELL EQUIPPED R&D •PRODUCYION IN DIFFERENT COUNTRIES
- 30. COMPETITOR’S WEEKNESS • LOW DISCOUNT FOR CUSTOMER • MEETING DEMAND IS CHALLENGING • CIMPLAIN OFTEN ARIES • DOES NOT HAVE TECHNOLOGY COMPETENCE AS ICI VINIL • CONFINE MARKET BUDGET
- 31. CURRENT SITUATION-INTERNAL COMPANY RESOURCES: Financial People OBJECTIVE: Financial objective marketing objective long term objective
- 32. COOPERATE CULTURE A summary of situational analysis External opportunity Increasing demand of broken color effects. With over large retail store consumer awareness is expected to grow. Customer are want something new. Finding solution of customer can also be another opportunity for the company.
- 33. EXTERNAL THREATS Increase in competition for other company The people are some time of rigid mind and they cannot accept the change easily. Higher price may be another threat for the company which can reduce profit. INTERNAL WEAKNESSES Lack of knowledge about what is wall coverings Where it is available. Not easily affordable to the customer of limited income. People prefer to use paint, panel wood walls and stone walls. less awareness of the product.
- 34. INTERNAL STRENGTHS Wide distribution network and latest technology. Large amount of latest colors scheme. Quality of product is a major strength of ICI VINIL. ICI VINIL cover almost all major markets of Pakistan
- 35. COMPETITIVE ADVANTAGES ICI VINIL having edge through its strong advertisement product offering. Wide distribution network than its competitors. Offers wall covering for rooms, kitchens , bathrooms,tv launches. The launch of kid zone is also positive point. Provide large variety of color and design.
- 36. MARKETING STRATEGY PRICE Category A for Elite class Price ranges RS.6000 to 60000 1 roll=50 square feet 1 wall require2 roll than Price for 1wall=(6000)(2)=RS12000 1rooom require 8 roll than price for 1 Room=(6000)(8)=RS48000 Category B for upper middle class Price in the range of 5000 to 50000 1wall require 2 roll than Price for 1 wall=(5000)(2)=RS10000 1Room require 8 roll than price For 1Room =(5000)(8)= RS 40000
- 37. Category B for middle-middle class price in the range of RS 3000 to 30000 1Wall require 2 roll than Price for 1wall=(3000)(2)= RS. 6000 price for1Room=(3000)(8)=RS.24000 Pricing objective The objective of ICI vinil Wall covering are Maximization of profit. To achieve target return. To achieve targeted return. To gain more market share. Pricing method The pricing method adopted by ICI vinil wall covering is profit base. The profit % is 20% in first year. Pricing strategy the pricing strategy is adopted by ICI vinil is market skimming. The pricing strategy of ICI vinil wall covering is more for more.
- 38. ICI vinil wall covering will provide superior quality with a bit of high price. Discount and allowances Cash discount Allowances MARKETING STRATEGY DISTRIBUTION GEOGRAPHICAL COVERAGE ICI has it's own godown and warehouses from ware houses the production is directly transferred to dealers who ultimately sell them. Production process Karachi (production) Islamabad . Lahore Multan
- 39. ICI vinil wall covering is using both direct and indirect method of distribution. Direct method producer= dealer=consumer Indirect method producer = agent=consumer Electronic Distribution There are different channel involved in electronic distribution of ICI vinil wall covering like radio, television, signboard and pamphlets. Physical distribution and logisties The production of ICI vinil wall covering is done in Karachi. Than the production will be transferred to the warehouses of ICI In different cities of Pakistan. Karachi Islamabad Lahore Multan
- 40. THANK YOU