Jafferjees
- 1. JAFFERJEES MAHNOOR MALIK BSBA – IV (B)
- 2. CONTENTS: SR. NO. TOPIC 1. INTRODUCTION 2. HISTORY 3. CURRENT SCENERIO 4. MISSION STATEMENT 5. VISION STATEMENT 6. CORE VALUES 7. TARGET MARKET 8. MARKETING MIX 8.1. PRODUCT 8.2. PRICE 8.3. PLACE 8.4. PROMOTION 9 MARKET SEGMENTATION 10 RETAIL MARKETING STRATEGIES 11 SWOT ANALYSIS 12 COMPETITOR ANALYSIS 12.1 MARKET LEADER AND FOLLOWERS 12.2 ATTACK AND DEFENCE 13 CONCLUSION
- 3. INTRODUCTION : Jafferjees is a 135 years old Pakistani leather brand headquartered in Karachi, Pakistan. Jafferjees is an exclusive name in the leather products. Their experience span over five generations. Before the separation of Indo-Pak, Jafferjees established itself in Quetta as a manufacturer of leather goods, horse saddles and boots for the armed forces in particular. Later they expanded their business by adding furniture to their product line, and by opening a retail outlet in Karachi.
- 4. HISTORY: 135 years ago, the Quettawala family established a business of leather goods in the city of Quetta, then British India. Their commitment to using the finest materials and uncompromising workmanship never diminished, thus, the Jafferjees name gained a reputation for developing high quality leather goods in British India. In 1935, nature played its hand. The city of Quetta was destroyed by a massive earthquake. Hence, the Jafferjees business centre shifted to Karachi.
- 5. CURRENT SCENERIO: Using superior product offerings, parallel to the needs of the customers and upholding them with an excellent customer service and retention system have differentiated them among the competitors It has a loyal base of customers. They now enjoy the status of being a brand, not locally but in international market too. Since Jafferjees has been present for over a century as the only leather goods provider, their sustainable competitive advantage has given them an edge over the emerging competitors. Currently, Jafferjees has only 11 outlets in 4 different cities of Pakistan and one international outlet in the middle east.
- 6. JAFFERJEES MISSION AND VISION : MISSION STATEMENT: “To continually innovate and provide products of uncompromising craftsmanship.” VISION STATEMENT: “To preserve and strengthen our as market leaders by expanding and new markets for our products.”
- 7. TYPE OF BUSINESS: Jafferjees is a family-owned business. It was originally started by Jafferjee and later carried on by his son Tahir Ali Quettawala. The business is now owned by two brothers, Imtiaz and Arif Quettawala and their cousin Arshad Quettawala.
- 8. TARGET MARKET: Jafferjees never segmented the market to sieve out the type of customers they want. They cater each and every category of people, upper – middle, high class and at the end elites. People from the corporate sector, celebrities, politicians etc. are their frequent Benazir Bhutto, during her reign as the Prime Minister Pakistan, also stopped at the Jafferjees to shop around.
- 9. MARKETING MIX: PRODUCT PRICE PLACE PROMOTION
- 10. PRODUCT: • Their product line includes: • Wallets • Purses • Handbags • Cases • Kits • Trolley Bags • Travel Bags • Accessories
- 12. PRICE: Jafferjees prices their items on the basis of simple formula of cost plus benefit margin. Products have prices in accordance with its quality. Customers buying in bulk are offered considerable discounts too. The price range in their stores starts from Rs. 400 and ranges up to Rs. 50,000 and above. For purchases above Rs. 2500, the delivery of the product across nationwide is free.
- 13. PLACE: Jafferjees has only 11 outlets in 4 different cities of Pakistan and one international outlet in the middle east. Karachi: Clifton, Tariq Road, Park Towers, Lucky One Mall, Dolmen Mall. Lahore: Emporium Mall, M. M Alam Road. Islamabad : The Centaurus, Giga Mall, Beverly Centre Faisalabad: Saira Mall United Arab Emirates: Burjuman Centre
- 14. PROMOTION: Jafferjees rarely advertises. They just utilize their official website and facebook page for promoting their products. They once advertised on the Google bar for their online store. Recently, Jafferjees was given coverage in Brand Zone, a program by Business Plus. The main reason for not advertising is the limelight and hype that prevails when heavy marketing campaigns are initiated. Jafferjees do not want to be like that, they have estabilished their brand name in more than a hundred years, now a single mistake or mismanagement can spoil the whole reputation. People take Jafferjees as a brand of quality and it is very critical to maintain it. In the international region too, they are just dependent on their website for small advertising.
- 16. DEMOGRAPHIC SEGMENTATION: • Women: • Wallets • Vanity Cases • Lipstick Cases • Handbags • Men: • Wallets • Cufflinks • Belts • Bags • Business Categories: • Portfolios • Briefcases • Desk Accessories • Cases n Organizers • All & Sundry Categories: • Cases • Wallets • Boxes • Keys • Accessories
- 17. AGE AND INCOME SEGMENTATION: They do not segment according to price points because most of the customers are brand conscious and they are willing to pay a higher price for differentiation. They have divided customers into 3 age for both genders; below 30, 30 to 45 and lastly, and above. AGE AND INCOME SEGMENTATION:
- 18. GEOGRAPHIC SEGMENTATION: • Jafferjees’ stores are located at the prime locations such as the top class Shopping malls in the big metropolitan cities in Pakistan. • One reason is that its target customers and potential customers are present there.
- 19. PSYCHOGRAPHIC SEGMENTATION: Jafferjees have products for every category people, upper – middle, high class and at the end elites. People from the corporate sector, celebrities, politicians etc. are their frequent buyers. Benazir Bhutto, during her reign as the Prime Minister of Pakistan, also stopped at the Jafferjees to shop around.
- 20. BEHAVIOURAL SEGMENTATION: Their products have the capability to retain their The staff is so well trained that every time a customer visits their outlet, they come back so satisfied. They offer discounts on bulk purchases. In addition, on purchases of above Rs. 2,500 from their online store, the delivery is free country wide. All these factors help in increasing the loyalty among the customers.
- 21. RETAIL MARKETING STRATEGIES: Branding: Store Positioning: Presentation: Direct Marketing Catalogues: E-tailing: Micromarketing:
- 22. SWOT ANALYSIS: • STRENGTHS: • Jafferjee’s is known for traditional touch in their products plus a modern touch helps it to gain its customers attention. • It has a wide variety of products ranging from women category to gents to all and sundry category to business category. • Well established name in the country. And a renowned name in international markets. • Experience of market in diverse culture. • Market leader in the leather products. • WEAKNESSES: • Minimal advertising. • Prices too high • Most of the Pakistani people are unaware about the brand. • High end quality retailer – so it will be appealing to those who are willing to spend.
- 23. SWOT ANALYSIS: • OPPORTUNITIES: • Scarcity of good quality branded leather goods in the country. • Fast growing demands from Asian Markets. • They need to bring their brand to other metropolitan cities of Pakistan. Plus internationally they should setup more outlets – to become a multinational brand. • Jafferjee’s need to onboard well known designers – local or international to strengthen the brand image. • THREATS: • Economic conditions are not welcoming with increased cost of petroleum products, shortage of electricity and water. This not only increase their cost but also reduces their profit margins. • The competition in the leather product category is increasing with new entrants in the local market. • Upper class people switching to international brands. • Luxury brands get copied a lot.
- 24. COMPETITORS : 1) Hub 2) Traditions Leather
- 25. MARKET LEADER AND FOLLOWERS: • Jafferjee’s is a 135 years old brand that has well estabilished itself as the strong leather merchandizer in Pakistan. • It has its own set of loyal customers, and its products are without doubt the best quality leather products that estabilished Jafferjee’s brand as premium leather accessories brand in Pakistan. • As they are the first entrants, they possess the most market shares. • All these factors make Jafferjee’s the Market Leader among all the leather brands in Pakistan. • Whereas Hub and Traditions both are the Followers as they enterted the market after the Jafferjee’s.
- 26. ATTACK AND DEFENCE MECHANISM: • The Traditions Leather and Hub are relatively new entrants in the market of leather goods. • They launched their product line keeping in mind the product line of Jaferrjees. • Jafferjees target the niche market – the upper class of the society , so their price range is relatively high • Traditions adopted a marketing strategy of reducing their prices so that they can target the lower income people of the society. • To this attack, Jafferjees remained neutral because this class of society is not among their target markets.
- 27. CONCLUSION: Jafferjees is perceived to be the best quality leather goods provider. Over the years, Jafferjees has been successful in building a brand name and image by delivering the benefits promised to the customers. By adapting different modes of advertising Jafferjees can communicate brand image more clearly, creatively and effectively. Jafferjees is not involved in any kind of research. Jafferjees plans to expand further by opening an outlet in Lahore, and in other parts of the world, to give itself the maximum exposure. It also has plans to introduce customer loyalty programs to further strengthen its relationship with its loyal customer.
- 28. THANKYOU!