PERCEPTUAL ANALYSIS AND BUSINESS PERFORMANCE: A STUDY FOR PANTALOONS’ PRIVATE LABEL BRAND “ANNABELLE” io LIMITED Tr ia l PANTALOONS FASHION AND RETAIL ud Mentor: Dr.SushilRaturi F St (Associate Professor) de sk PD AVANI BIRLA MUM13MM07 2013-2015 MASTERS OF FASHION MANAGEMENT DEPARTMENT OF FASHION MANAGEMENT STUDIES NATIONAL INSTITUTE OF FASHION TECHNOLOGY MUMBAI, INDIA PD de sk F io ud St l ia Tr DECLARATION I, Avani Birla, hereby declare that the Project entitled “PERCEPTUAL ANALYSIS AND BUSINESS PERFORMANCE- A STUDY FOR PANTALOONS’ PRIVATE LABEL BRAND ‘ANNABELLE’ ” is my original work and no part of the project has been copied from any other reports or any other were carried by someone else and this have been submitted for any other degree/award. However, any material taken from any other published Tr ia l sources has been suitably referred and acknowledged at various places. io Name: Avani Birla de sk PD F St ud Roll No. : MUM13MM07 Date: 19.05.2015 Batch: 2013-2015 Centre: Mumbai ACKNOWLEDGEMENT I am grateful to NIFT for providing me an opportunity to do research work on “PERCEPTUAL ANAYLSIS AND BUSINESS PERFORMANCE- A STUDY FOR PANTALOONS’ PRIVATE LABEL BRAND ‘ANNABELLE’ ”. I express my whole hearted thanks to my guide Dr.SushilRaturi for his encouragement and moral support in organizing my work and giving me valuable tips for making it presentable. I am indebted to Ms. Garima Dubey, my industry mentor who has guided and supervised me ia l throughout this study. I have no words to express my gratitude to her. Tr I will be failing in my duty if I do not mention the name of my CC Ms. LipiChoudhary and ud io other faculty for their help in my report. Yours Sincerely, NIFT, Mumbai de sk PD Date of submission: 19.05.15 F Master of Fashion Management St Avani Birla TABLE OF CONTENTS CHAPTER TITLE PAGE NUMBER 1 2 2.1 2.2 2.3 2.4 2.5 INTRODUCTION REVIEW OF LITERATURE COMPANY PROFILE BRAND PROFILE MERCHANDISE GRID BRAND INSPIRATION GRID KEY STRATEGIC IMPERATIVES GENERAL RANGE DEVELOPMENT PROCESS CUSTOMER SATISFACTION,PERCEPTION AND EXPECTATION & SELL THROUGH RESEARCH METHODOLOGY ANNABELLE RANGE DEVELOPMENT PROCESS PROBLEMS & SUGGESTIONS CUSTOMER SURVEY ANALYSIS SALES PERFORMANCE OF ANNABELLE AS COMPARED TO OTHER NATIONAL BRANDS OF PANTALOONS EXECUTIVE SUMMARY ANNEXUREQUESTIONNAIRE REFERENCES 1,2 l ia Tr 16-21 21,22 23 24-35 de sk 4.1 5 5.1 6 PD F 3 4 St ud 2.7 io 2.6 2-5 6,7 7,8 9-14 15 35-37 38-47 48 49-51 52,53 54,55 56 PD de sk F io ud St l ia Tr EXECUTIVE SUMMARY The purpose of this project, entitled “Perceptual Analysis and Business Performance- A study for Pantaloons’ private label brand ‘Annabelle’ “, was to cover the following objectives: 1. To study the existing process of range development for the season of AW’15 2. To study the customer’s perception about the brand Annabelle in terms of: Satisfaction Expectation Competition 3. Comparison of the sales and sell through analysis of Annabelle with national brands ia l like Van Heusen and Allen Solly. Tr The range development process was covered in a detailed manner, with each step being explained elaborately, the reason being that the company wanted this process to be io documented. Certain problems which were faced while executing this process have been ud brought to light. Next, a customer survey was conducted with a sample size of 100 across four stores Pantaloons St in Mumbai. The purpose of conducting this survey was to understand how the customers felt about the brand, their level of satisfaction, their frequency of purchasing from this brand, how F they compared this brand with other national brands which were also sold at Pantaloons. The collection of Annabelle was rated fairly well with all four parameters, i.e., price, de sk PD Following are some of the conclusions that were brought forward by the survey: fit, style and quality being given an average rating of 3 which indicates that customers are satisfied with the brand. Price and quality have been given higher ratings indicating that they are the USP of the brand, which is, good quality products at reasonable prices. When compared to other national brands of Pantaloons, Annabelle was the preferred formal wear brand among the respondents Annabelle is the most preferred brand over brands like Allen Solly and Van Heusen in terms of providing quality products at very reasonable prices. Even though the other brands are more well-known, are more advertised, at times provide better quality products but also come at prices which justify the quality, might have better designs and styles, yet, Annabelle’s performance is better than these brands because it provides value for money along with good quality products. Lastly, the performance of Annabelle with two national brands, Allen Solly and Van Heusen, was compared in terms of sell through. It was observed that Annabelle was the best performing brand out of the three brands (at Pantaloons stores only). The reason being, which came out during the customer survey, was that all the three brands dealt with women’s formal wear but Annabelle emerged out to be more popular because of the quality products it provided at very reasonable prices as compared to the national brands which also provided similar products but de sk PD F St ud io Tr ia l at a higher price. CHAPTER 1: INTRODUCTION The women’s wear market in India has the potential to grow into Rs 65,572 crore market sizes by 2015. Maturing at the rate of 15.2 per cent, as compared to the growth of the total apparel sector at 14.7 per cent, women’s wear has enjoyed a steady 32 per cent market share. In fact, it is the segment that currently shows the highest growth rate among all major apparel segments. Perception is the process by which organisms interpret and organize sensation to produce a meaningful experience of the world. Perception has strategy implications for marketers, because consumer make decisions based on what they perceive, rather than on the basis of objective reality. Consumers often judge the quality of the product or service on the basis of a l variety of informational cues; some are intrinsic to the product (e.g., color, size. etc), while ia others are extrinsic (e.g., price, store image, style, smartness, brand image, service Tr environment). In the absence of the direct experience or other information, consumer often rely on price is an indicator of quality of the product they carry, as well as the decisions of io consumers as to where to shop. ud Firstly, this report examines consumer’s perception towards one of the private label women’s St wear brand of Pantaloons, “Annabelle”, in terms of preferences, frequency of purchase, factors influencing the customer while purchasing this brand, other brands preferred for F purchase of formal wear, etc. This survey has been conducted in order to gauge a customer’s PD perception towards the brand, how happy she is with the brand as compared to other competitive brands that deal in the same category, i.e., formal wear, whether her perception de sk about the brand meets her expectations, etc. Secondly, this report also covers the entire range development process which is followed by the company when planning and executing a range for a particular season. The company wanted a documented, step by step process of range development. And lastly, a brief analysis has been done in terms of Annabelle’s sales and sell through performance and its comparison with other national brands like Van Heusen and Allen Solly which are also being sold in Pantaloons. Following are the objectives of the project: 1. To study the existing process of range development for the season of AW’15 2. To study the customer’s perception about the brand Annabelle in terms of: Satisfaction 1 Expectation Competition 3. Comparison of the sales and sell through analysis of Annabelle with national brands like Van Heusen and Allen Solly. CHAPTER 2: REVIEW OF LITERATURE 2.1 COMPANY PROFILE: Aditya Birla Group: A US $40 billion corporation, the Aditya Birla Group is in the League of Fortune 500 ia l companies. In 2011, the Aditya Birla Group was ranked Number 4 in the Global 'Top Tr Companies of Leaders' survey and ranked Number 1 in Asia Pacific. The company is anchored by an extraordinary force of over 120,000 employees belonging to io 42 different nationalities and operates in 36 countries – Australia,Austria, Bangladesh, Brazil, ud Canada, China, Egypt, France, Germany, Hungary, India, Indonesia, Italy, Ivory Coast, Japan, Korea, Laos, Luxembourg, Malaysia, Myanmar, Philippines, Poland, Russia, St Singapore, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Tanzania, Thailand, F Turkey, UAE, UK, USA and Vietnam. PD Over 50% of the company's revenues flow from its overseas operations. de sk Around the world, Aditya Birla Group is known for: A metals powerhouse, among the world's most cost-efficient aluminium and copper producers. Hindalco-Novelis is the largest aluminium rolling company. It is one of the three biggest producers of primary aluminium in Asia with the largest single location copper smelter No.1 in viscose staple fibre No.1 in carbon black The fourth-largest producer of insulators The fourth-largest producer of acrylic fibre Among the top 10 cement producers Among the best energy-efficient fertiliser plants The largest Indian MNC with manufacturing operations in the USA 2 In India, they are known for: The largest fashion (premium branded apparel) and lifestyle player The second-largest manufacturer and largest exporter of viscose filament yarn The largest producer in the chlor-alkali sector Among the top three mobile telephony companies A leading player in life insurance and asset management Among the top two supermarket chains in the retail business The largest manufacturer of linen fabric Rock solid in fundamentals, the Aditya Birla Group nurtures a culture where success does not ia l come in the way of the need to keep learning afresh, to keep experimenting. Vision: To be a premium global conglomerate, with a clear focus on each of the businesses. Tr Mission: To deliver superior value to our customers, shareholders, employees and society at io large. ud Values: Integrity : Acting and taking decisions in a manner that is fair and honest. Following the St highest standards of professionalism and being recognised for doing so. Integrity for us means not only financial and intellectual integrity, but encompasses all other forms as are PD F generally understood. Commitment : On the foundation of Integrity, doing all that is needed to deliver value to all stakeholders. In the process, being accountable for our own actions and decisions, those of de sk our team and those in the part of the organisation for which we are responsible. Passion : An energetic, intuitive zeal that arises from emotional engagement with the organisation that makes work joyful and inspires each one to give his or her best. A voluntary, spontaneous and relentless pursuit of goals and objectives with the highest level of energy and enthusiasm. Seamlessness : Thinking and working together across functional groups, hierarchies, businesses and geographies. Leveraging diverse competencies and perspectives to garner the benefits of synergy while promoting organisational unity through sharing and collaborative efforts. Speed : Responding to internal and external customers with a sense of urgency. Continuously striving to finish before deadlines and choosing the best rhythm to optimise organisational efficiencies. 3 Pantaloons: Pantaloons is one of the fastest growing lifestyle apparel retail destination in India constantly innovating designs, concepts and products by infusing the latest trends in fashion and clothing styles. A chain of stores for every Indian, Pantaloons has a repertoire of lifestyle brands to cater to every consumer needs across multiple occasions. The warm and personalized service offered by every store truly brings out the unique value proposition of the format. Pantaloons was launched amidst much fanfare in Gariahat, Kolkata in 1997. Over the years, the brand has undergone several transitions therefore re-inventing itself to bring forth compelling trends and styles for men, women and kids. It started as a discount format, ia l moving to a family concept store and finally evolved into a fashion destination with a sharp Tr focus on bringing the latest in fashion. Pantaloons retails over 200 brands which comprises a mix of exclusive brands, licensed io brands, international brands and more in apparel as well as accessories leaving the consumer ud spoilt for choices. The greatest asset of Pantaloons is our exclusive brands that keep customers coming back to our stores. What sets these brands apart is that each of the designs St are crafted keeping the consumer’s fashion sensibilities and fashion needs in mind. F Brands at Pantaloons: PD Pantaloons offers a wide range of brands for men, women and kids with choices across categories including western wear, ethnic wear, formal wear, party wear, active wear and de sk accessories making it a one stop destination for all the fashion needs of the consumers. The women’s section houses our exclusive brands that offer different collections for a wide range of occasions: Ethnic wear exclusive brands include the mix-n-match range by Rangmanch, fusion wear by Akkriti and occasion wear by Trishaa. Western wear exclusive brands include Ajile for the fitness conscious, trendy casual wear by Honey, smart formals and evening wear by Annabelle. The men’s section houses a plethora of options that includes our range of exclusive brands as well as India’s favorite brands. 4 Western wear exclusive brands include edgy casuals by SF Jeans, preppy British sports inspired collection by Byford, sports luxe by Ajile and party wear by F Factor. Formal wear section offers a range of crisp and well-tailored collection by popular international brands like Van Heusen, Allen Solly, Peter England and Louis Philippe. The kid’s section has something to offer for all age groups starting from 1 month old toddlers to 12 year old tweens. The portfolio of brands includes infant wear by Chirpie Pie, ethnic wear by Akkriti, casual wear by Chalk and Poppers. In an endeavour to meet the consumer’s ever-changing fashion needs, Pantaloons has l introduced new brands that include: Candies, New York, for young fashionistas who like to flaunt their style. San Frisco Jeans Co, that offers the latest edgy styles in denim wear for young men Tr ia and women. Byford, established 1919, a British inspired sports lifestyle brand that offers polished io ud peppy collection. Alto Moda, high fashion brand for plus sized people Poppers, a bubbly and cheerful kids wear brand for young boys and girls. St F In addition to this vast range of brands, Pantaloons also has a well-established repertoire of PD partner brands such as Lombard, Bare Denim, Bare Leisure, JM Sport Classic, RIG, Turtle, de sk Spykar, Lee Cooper, 109F, AND, Chemistry, Global Desi, Biba, Giny & Jony and Barbie. With a chain of 97 fashion stores across 46 cities and towns, Pantaloons is constantly extending its footprint into the rest of modern India. It spans a retail space of 1.7 million square feet which is amongst the largest in India. Voted as ‘India’s Most Trusted Apparel Retail Brand’ in the prestigious Brand Equity Survey 2014, Pantaloons continues to nurture consumer trust and confidence. Pantaloons is now an integral part of the prestigious Aditya Birla Group, a USD 40 billion Indian multinational operating in 36 countries across the globe with over 120,000 employees. 5 2.2 BRAND PROFILE: ANNABELLE Annabelle is one of Pantaloons’ private label brands which deals in women’s formal and evening wear. Key items: Top wear Dresses Jackets- career Winter coats & jackets Retail Price: Career Tops - 699-1299 9 to 9 tops - 799-1199 Dresses (9 to 9)- 1199-1699 Jackets - 2599-2799 Knits Basic - 249-899 Trouser core -499-1299 Customer: St ud io Tr ia l Age Range- 22 – 32 years Professionals / socially active Conscious & confident Understated fashion Respects the place and blends in occasion Follows the dress code de sk PD F Brand Attributes: Smart yet feminine work wear. Attention to fits and colors. ”Less is more” Classy and neat finish cuts down monotony of regular or occasion wear Tagline and Key Words: Sophisticated Modern Classy and Chic 6 Inspiration Brands: ANN TAYLOR WALLIS ZARA VAN HUESEN M&S MANGO Wardrobe by Westside Code by Lifestyle l Competitors: Tr ia Brand Icon: Sonam Kapoor io 2.3 MERCHANDISE GRID: ANNABELLE PRODUCT-PRICING MIX: ud 1. CAREER WEAR (17%) Core: Shirts St MRP: 699-899 Fashion: Tops PD MRP: 699-1499 F Fashion Basics: Shirt de sk MRP: 699-999 2. EVENING WEAR (38%) Fashion Basics: Tops MRP: 799-1299 Dresses MRP: 1299-1499 Fashion: Tops MRP: 799-1399 7 Dresses MRP: 1199-1699 Fashion Signature: Tops MRP: 999-1299 Dresses MRP: 1699-1799 3. BOTTOMS (13%) Trouser ia l Core: Tr MRP: 1299 Skirt ud io Fashion Basic: MRP: 1299 Treggings St Trousers de sk Fashion: PD MRP: 1199-1499 F MRP: 1199 Trouser MRP: 999-1699 4. WINTER WEAR (16%) Fashion Light winter wear MRP: 999-1499 Heavy winter wear MRP: 1299-4299 8 5. JACKETS/SUITS (0.5%) Core MRP: 1499-2999 Fashion Basic MRP: 1699-2699 Fashion MRP: 1299-2199 2.4 BRAND INSPIRATION GRID-ANNABELLE: 40% of the range comprises of career and business casuals and 60% comprises of 9 to 9 and ia l evening wear. Tr Key silhouettes/ Must haves: Crisp shirts, sleeve variation in career wear, tunic length tops, Mock- double layers, easy fluid shirts, tops, tunics. ud io In bottom wear: leggings, PVL pants, cotton sateen pants, fashion trousers. In dresses: shift dresses, Ponte dresses, fitted structured dresses, blouson dress. St Print direction: Subtle yet impactful, solids combined with subtle prints, cheerful and F bright inter play of polka and stripes, conversational and animal print variations. de sk business casual range. PD Embellishment: Career- No embellishment in career tops, textured fabrics could be used in 9 to 9- subtle use of laces, interesting self textured fabrics could be used in 9 to 9. Eveningwear: sequins, glitterati, delicate westernized zariwork for signature. Color palette: A compact color palette of black, whites, neutrals- few highlight colors to be used to break the monotony. Evening wear to have hues of mid tones and deeps. Metallic gold and black to be used in signature. Fabrics: Fabrics to be used will include synthetics, synthetic blends, viscose rayon's, viscose elastane, PC blends, ponte, lace fabrics, 100% mill made cotton with 50s compact yarn in business casual and Ponte Fabric but with lesser composition of elastane. 9 End use: The purpose of this range is to provide an attire which women can wear to work or for an evening out with friends. Benchmark brands: M&S, VERO MODA, VAN HUESEN, Forever New(Signature). DO’s: It is necessary to keep a check on the fits especially in career wear Business casual range to have interesting trim/fabric details An optimal base of fabric quality needs to be established which will further be used for all seasons Play with interesting yet subtle prints Try combining solids essentially while layering a look Embellishment should be of good quality and last for a long time The range should provide value for money Fabric quality should not be compromised Range must be balanced covering all silhouettes within the palette. Color palette must be very tight, with Black, Beige and Ecru present in all stories. 90% of the range (including 9 to 9) should comprise of easy commercial silhouettes. Color stories to be clear within each story and to cover solids and prints alike Range to be planned as coordinates with one bottom coordinating with at least three St ud io Tr ia l There can be only two stories in a season with the color palette from each story to PD F tops as well as layering pieces like shrugs. flow from hit 1 to hit 2 de sk DONT’s: No ankle length trousers. All trousers need to be full length. Career wear color palette and theme to be independent of season stories Too shiny a fabric not to be used for evening wear. In case of satin, use only matte quality Deep necks and big armholes in silhouettes to be avoided 10 Tr ia l CAREER WEAR: de sk PD F St ud io BUSINESS CASUAL: 11 de sk PD F St ud io Tr ia l EVENING WEAR (BASIC): EVENING WEAR ( 9 TO 9): 12 ud io Tr ia l SIGNATURE: de sk PD F St BOTTOMS: 13 PD de sk F io ud St l ia Tr CARDIGANS: 14 2.5 KEY STRATEGIC IMPERATIVES FOR THE BRAND: STRATEGIC OBJECTIVE PRODUCT MIX EXECUTION STRATEGY 1. To offer a complete 40% career wear and 60% Fabric should be stretchable career wear and evening wear and crease free with easy eveningwear(9AM to maintenance. 9PM)solution prints should appeal to a appealing to wide Colors and wide range of customers range of consumers 2. Fashion quotient to be Evening wear tops and Exclusive signature collections which will help Solly, Van Heusen – make the brand more fashion which are aspirational forward. brands for Pantaloons This will also help tap the Tr ia l at par with Allen dresses consumers Allen Solly/Van Heusen Core career St 3. Brand Identity current customer base ud io customers in addition to the dresses and shoots as an exclusive brand range. Windows and in store display PD signature dresses F eveningwear dresses, To portray the brand in photo to be brand specific de sk 4. To make Annabelle 40% dresses across evening Eveningwear as dress destination wear contribution increased up to 45% in option plan. Different silhouettes and fabric embellishments to be used for the dresses 15 2.6 GENERAL RANGE DEVELOPMENT PROCESS: The following flow chart depicts a general process of range development. It is not necessary for every company to follow the exact process, but this provides a basis for the development process: Range Development Forecasting Story Making Look Formal Look Jeanswear io Casual Look Tr ia l Research Fabric Selection Sampling de sk PD F St ud Product Development Docketing Trim Selection Presentation Sample Selection Order Placement Costing TNA Approvals 16 Product/Range development is the process of market and trend research, merchandising design, and development of the final product. Merchandisers or product managers, designers, and their assistants are all involved in the development of a line or collection of the fashion manufacturers’ product. Product/Range development is the process of market and trend research, merchandising design, and development of the final product. Line development is the creation of a line, also referred to as a collection( a group of garment styles that is presented by apparel companies to their customers for sale and delivery during a specific time period. Buyer strategy ia Buyer(his own ranges) Tr io Season selected ud l It basically depends on the : St Research: F In this the designers along with the manufacturers go for research on the basis of preferences PD done by the buyer. They research their target market to learn buying habits and preferences. Manufacturers and retailers ask consumers directly about their preferences. de sk Consumer reactions are compiled and tabulated to find preferences for certain garments or accessories, colors, or sizes, and so on, or preferences for particular retailers. This information can be used to create new products to fit specific consumer tastes. Methods of questioning consumers can be formal or informal. Buyers and sales associates may talk with customers in the store. Manufacturers may hire market research companies to make inquiries by telephone or mail and to hold consumer focus group meetings Every manufacturer and retailer researches its own sales records. Rising sales statistics show what styles have passed their peak. Overall weak sales show that a style is not meeting consumer needs for fashion, quality or fit. 17 Fashion Forecasting: Designers, merchandisers and buyers must learn to predict trends, which are new directions in fashion. It would be impossible to ask consumers what they will want to wear a year or two in advance – they would not know themselves. Designers, merchandisers and retailers must work so far ahead of the selling season to produce or stock the fashions their customers will want, they must learn to anticipate customers’ wants and needs – to be fashion forecasters of the future. Fashion forecasting involves: 1. Studying market conditions – consumer’s buying behavior is influenced by society, l economics, technology, and the environment Tr 3. Researching sales statistics to establish sales trends ia 2. Noting the life-styles of the men, women, or children who are the customers io 4. Evaluating the popular designer collections to find fashions (colors,silhouettes, ud fabrications, lengths) that suggest new directions or “trends” St 5. Surveying fashion publications, catalogs, and design services from around the world 6. Observing “street fashions”(what people are wearing) and what celebrities are wearing Story making: PD F 7. Keeping with current events, the arts, and the mood of the public de sk In this the designers have to look for all the factors that need to be taken into part when forecasting a new product. Say if they go for a women’s garment then they have to look for all the added accessories to it, which has to be in tune with the product to be forecasted. This in tune has to be season based, else its of no use. Based on the work, they need to decide the graphics for print, embroidery, styling, etc. Color palette is done on the basis of color selection. Product Development: Merchandisers or product managers and designers are all involved in the development of a line or collection. Merchandising: 18 Merchandising is planning to have the right merchandise at the right time in the right quantity and at the right price to meet the needs of the company’s target customers. Cost merchandising: Based on costs for the last season’s styles, merchandisers establish price points for garments to be designed. Scheduling: The merchandiser sets up a schedule of deadlines for styling, finished samples and production to meet the required shipping dates. Seasons: Each season, the design and merchandising departments of each division are responsible for a creating a new line, the seasonal collection. Work on a new line approximately begins eight months before the selling season. Fabric: Designers and merchandisers first select fabrics for each group in the line and Color: Designers must consider their customers and provide colors that are both ia l specific fabrics for each style. Tr appealing and flattering. Line: After selecting the fabric, the designer must consider the other elements of good io design. Line refers to the direction of visual interest in a garment created by ud construction details such as seams, openings, pleat, gathers, tucks, topstitching and trims. Shape: It is used to describe the outline of the whole garment Designing a sample garment: The first sample garment or prototype is the test to see if a design is successful. F St PD The first pattern: The pattern is made in a sample size, the one used for testing and selling purposes. de sk The designer work sheet: Records are kept on all styles as they develop. Each designer fills out a work sheet containing information that guides the production department in figuring costs and in ordering trims. Docketing: It’s a style sheet made by designer, with all designs of the product, trims ,accessories, for sampling purposes. This sheet is given to the production department people mainly the sample tailors who initially go for preparing the garment before production starts in bulk 19 Sampling: To test the forecasted design, the designer orders a 3-5 yard cut of a fabric to make a sample garment. They initially order enough for many samples, perhaps100 yards or more. They commit to a fabric order even before having a collection to show. Once fabrics have been selected, the designer can begin to create styles. Presentation: In this the style the design that the designer has made is given a shape by the sample tailors under the manufacturer’s brand name. And when the buyer’s come, they go through the sample designs. It happens they may like the style and ask for production, some may even ia they wish they may ask for slight variations in fabric, trims, color ,etc. l reject it. If they accept they may ask for bulk production with the same style and color but if Tr Sample selection: io During this process he can select any design, fabric, trim, and colors. ud For fabric – fabric type, quality, quantity, sources etc. For trims – threads, elastics, interfacings, laces, embroidery, ribbons, braids and cords, St zippers and buttons, labels, hangtags, etc. Order placement: PD F The style is finalized here and the manufacture starts with the proto sample. de sk When everything is finalized then the order is placed by the buyer or retailer. This then starts in bulk and the company tries to complete the order in allocated time. Costing: The production cost of a garment is mutually determined by the manufacturer and contractor. Costing is an exact calculation by the sourcing department and the contractor, using actual figures for materials and labor, based on how long it takes to make an entire garment. Time and Action Plan: This is planned by PPC (pre-production and control) department , where a pre-planned format is planned starting from the production floor to the shipment. 20 Approvals: When all the above things are done, all the approvals are passed from all departments, like quality, production, planning, merchandising, etc. Then finally the buyer gives a nod and the company plans for shipment in whichever mode it has been asked. 2.7 CUSTOMER SATISFACTION, PERCEPTION AND EXPECTATION & SELL THROUGH: Customer Satisfaction: It is a term frequently used in marketing. It is a measure of how products and services ia l supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported Tr experience with a firm, its products, or its services (ratings) exceeds specified satisfaction io goals." ud Customer satisfaction depends on the product’s perceived performance relative to a buyer’s expectations. If the product’s performance falls short of expectations, the customer is St dissatisfied. If performance matches expectations, the customer is satisfied. If performance A highly satisfied customer: F exceeds expectations, the customer is highly satisfied and delighted. Stays longer Buys more as the retailer introduces new products and upgrades existing brands Talks favorably about the retailer and its merchandise Pays less attention to competing brands and advertising and is less sensitive to price Offers products/service ideas to the retailer Costs less to serve than new customers de sk PD Customer Perception: In consumer behaviour, perception refers to the way stimuli are interacted and integrated by the consumer. Although there are numerous definitions in literature explaining perception from a consumer behaviour perspective, the one used by Walters and Bergiel (1989) provides 21 particular clarity on the topic: “The entire process by which an individual become aware of the environment and interprets it so that it will fit into his/her frame of reference”. A brand is a perceived image that resides in the minds of consumers. It is the aura that surrounds a product or service that communicates its benefits and differentiates it from its competitors for the consumer. Thus a brand is been defined as, “an identifiable product, service, person or place, augmented in such a way that the buyer or user perceives relevant unique added values that match their needs most closely” Customer Expectation: Customer expectation refers to the total perceived benefits a customer expects from a company’s product or service. If the actual experience customers have the products exceeds ia l the expectation, they are typically satisfied. If the actual performance falls below the Tr expectation, they are typically dissatisfied io Sell through: A calculation, commonly represented as a percentage, comparing the amount of inventory a ud retailer receives from a manufacturer or supplier against what is actually sold to the St consumer. Manufacturers often create promotions or special advertising in an effort to increase the sell- de sk PD F through rate of its products at the retail level. 22 CHAPTER 3: RESEARCH METHODOLOGY Types of data collected: For the purpose of this project, both primary as well as secondary data was collected. Primary data, which is the data obtained through the direct efforts of the researcher, can be collected through surveys, questionnaires and direct observation. The data that is collected is unique to the research and no one else can access it until the researcher publishes it. For this project specifically, primary data was collected with the help of a questionnaire. This questionnaire was specific to the brand “Annabelle” and included questions related to the ia l frequency of purchase, the factors influencing purchase, other competitive brands purchased, Tr etc. Secondary data, which is data that has already been collected and readily available from io other sources, was also collected from various internet sources and articles. ud Sampling: St A sample size of 100 was used to conduct the survey which consisted of only women belonging to the age group of 18 to 40 years. PD F Area of survey: The survey was conducted in 4 Pantaloons stores of Mumbai, which are located in Lower de sk Parel, Malad, Ghatkopar and Kurla. 23 CHAPTER 4: ANNABELLE RANGE DEVELOPMENT PROCESS The following flow chart depicts the steps undertaken in order to develop the range of a particular season. The season under consideration over here is AW’15. • OPTION PLAN STEP 2: • RANGE PRESENTATION STEP 3: • RANGE CLOSURE STEP 4: • HANDOVER TO SOURCING STEP 5: • COSTING STEP 6: • PC:MRP STEP 7: • FIT SAMPLES STEP 8: • PRE PRODUCTION SAMPLES ia Tr io ud St F PD de sk STEP 9: l STEP 1: • PRODUCTION STEP 10: • SHIPMENT SAMPLES STEP 11: • INWARD IN WAREHOUSE STEP 12: • INWARD IN STORES 24 1. The first step when developing a range is preparation of the option plan. This option plan is prepared by the buyer for that brand and the same is shared with the designers. Below is the option plan for AW’15. The following factors are taken into consideration when preparing an option plan: MRP range Product Sale value Options required per category Current market trend tops Annabel le Core 45's PC Solid 2 and detailing 1. to 1- be S/SLv worked shirt and on. Basic 1 LS shirt 699- 6 799 4 10 fit to 2. lab dip remain as around 8 Career current colors. season. Will Will tops be not select 4. story specific. 1. will do 1. Sleeve Career tops Core 45's PC Y/D 2 699 6 2 8 details 4 stripes only. and 2 Fit checks. as is 2. Should be 25 repeats updates Best seller Product direction cost/ brand DNA Value sleeve PD de sk Career addition Tr Tot. Options io Oct 15 hit 3 Sep 15 Hit2 ud Aug 1 Hit1 approx. cost MRP St Only F No. of styles Attributes fashion Fabric quality- Core MCC MC / Fashion basics/ impacting ia l Refer pics attache d commerci al colors. Need desk looms in 8 stripes and 4 checks options to choose from. 1. 1 style in each l hit. d 2 799 2 2 ia Printe neutral commerci al colors. ud 3. Style to St F Cotton Solid 1 Career Tops 799 2 sleeve and 2 4 Basic Sateen de sk Tops n be s/s PD Career Fashio 50's Fashio n Basic 100% Cotton Prints to be in 4 io tops Core 45's PC Tr Career 2. placket 1. Update details of our only to be Satin worked Shirt. on add small trim Solid 1 699 details/ 2 stitching details, 1. Sleeveles s style. etc Business 1. Need 5 Career tops- Fashio Busine n ss Casual Basic 50's Compa ct Y/D 7 999 8 4 12 casual styles range hit 1 and needs to 2 in Hit 2. have a lot 2. Cotton of Need one solid interrestin and 26 in g trim balance details y/d. like contrast fabric, herringbo ne tapes, etc 1. 3 styles in Hit 1. Will do colorways in Hit 2. Will l 2. need buttons, y/d stripes 6 799 4 10 be can options. 2 used. for Silhouette hit. s to simple. St 4. F Basic slv top. 18 799- 8 999 crepe 27 4 12 L/S Gold buttons, 1. Refer tabs, can be shirt pics body, used. attache Silhouettes to basic s/s d top, be simple. Sleeveles and repeats additio Value Tot options 48 Oct 15 hit 3 Sep 15 Hit2 cost Aug 1 Hit1 Approx styles MRP of 4 2 plain 3/4 32 No. Attributes basics/ Fabric fashion qualityggt/ BSY Solids options of block. PD tops Evening less 2 color Poly ggt/ 9 to 9 Fashion Wt be 3. options of de sk Fashion Core / e MCC MC Annabell each brand Best seller DNA updates 3 4 impacti Product ng cost/ direction Basic Jersey d tabs, 699- n n Viscose solid/y ud Tops Fashio io Career Tr ia gold s top and Long shirt body to be covered. 2. Can do color options as color blocks also. 1. Will do 9 ia l styles in less tops Basic Amaliya AOP 14 799999 be in colors 12 6 of the season 18 Viscose Animal be sould included here. PD crepe/ Sleeveles Refer s styles. pics 3. Need attache a peasant d body in 3 will be in viscose de sk tops Fashion Amaliya 2 styles jersey. Use details 1. Will like lace, do 7 metal ggt/ BSY 9 to 9 do 4. less crepe/ Can range. Poly ggt/ Wt 2. the F Jersey and prints St crepe/ ud ggt/ BSY 9 to 9 Fashion crepe/ 2 AOPs should io Wt 3 in Hit Tr Poly ggt/ Hit 1 and styles in trims(buttons hit 1 and Solid/AO P 10 899- 8 1199 4 12 Mix match Viscose fabrics, Jersey/ tabs). 3 styles and in hit 2 of 2. Will do 2 embellishme tunic Ponte 9 to 9 Fashion- Poly ggt/ Solid/AO 20 tops Dresses Wt less P ggt/ BSY and nt. styles. need 10 easy 1. Need Refer 999- 14 1499 8 22 dresses. options 28 4 4 options pics of in Shift attache crepe/ evening wear shape. d Viscose dresses. Can 2. can do Jersey/ use Ponte belts, lace, 6 slight sleeveles embellishme s styles. nt, etc. 3. Only 2 options for Rs.1499. Poly 1. Can Satin/Pol do 2 y ggt/ Wt 9 to 9 Signatur less ggt/ Solid/AO tops e- Tops BSY P Can use lace, 899- 8 6 1299 2 8 embellishme ia Poly tops less ggt/ Solid/AO e- BSY Dresses P 1299- 6 Hit 1. 1699 crepe/ 2 6 52 78 embellishme nt St Viscose 4 Can use lace, ud 9 to 9 y ggt/ Wt io Satin/Pol Signatur AOPs in Tr Jersey Will need two l Viscose styles. 2. nt crepe/ S/less 26 Annabell Core e Jackets PVL- as AW14 e Jackets basic Solid 1 2799 2 2 en Solid 1 2599 2 2 Waistcoa basic AW14 as style as SS14 Annabell Fashion PVL- style Same Jackets e- as Same Solid 1 1299 2 2 style SS14 ts 29 as Same style as SS14 Same style as SS14 Same style as SS14 nd ates DN and addi Pro tion duct imp dire acti Best ctio ng selle n cost/ r bra upd rox. Aug cost 1 Sep Hit1 15 Oct Hit2 15 Tot hit 3 optn Val s ue Same SS14 Annabel Annabell Fashion Cotton/Sate le cs/ ityAttr fash ibut No. ion es of MR style P s app basi qual hion ric Fas Fab e Cor C MC MC / de sk PD F Jersey 1. Will do Annabell ewaterfall Fashion Viscose basic Solid 1 Jersey 899999 4 4 can use lace in 999 waterfall two styles. 1 basic waterfall and one with lace back. 1. Needs to be an easy Fashion Annabell - Jaquard/ which can Signatu Textured waterfall re Solid 1 2299 1 be paired 1 with fabric l e- Jacket of ia Jacket AW14 / y/d 2 Annabell Annabel le Trouser basic en de sk e Trs e Skirts Core Solid 1 PD Annabell Fashion Cotton/Sate PVL- as AW14 Solid 1 Annabell e Skirts basic/ Ponte ps signature. Same 4 4 style as SS14 Same 1499 4 2 6 style as SS14 Same 999 2 in 11 2 style AW14 as Same style as SS14 Same style as SS14 Same style as AW14 1. Can do Fashion s 1499 the dresses/To Tr io as Solid F e Trs Core PVL- St Annabell ud 11 any Solid 2 Fashion 899/99 9 2 2 a PU+Ponte skirt. 1. 1 style Poly twill/ Annabell e Trs Fashion Moss crepe/ 30's in AOP 2 1199 4 2 6 each hit. 2. Prints to Rayon be in colors that 30 sit with the 9 to 9 tops. 1. Fashion Annabell e Trs shape- not Fashion Moss crepe Solid 2 1199 2 2 too loose, 4 needs to be slim. 1. 1. Needs to be Can inline with have the tops e Trs Signatu Self Solid 2 1699 2 2 textured 4 ud Leggings Fashion Lycra de sk Annabell Viscose e Tregging s basic/ Ponte each Solid 1 Solid 1 2. and 3. The fit classy. needs be St Core F e but need in style minimal Hit to slim and chic. 499 2 2 1299 4 4 PD Annabell (if reqd), one to keep it Hit 1 and io re ia Annabell - detailing 2. Can do Jaquard/ Tr Fashion l surface offer. Fashion 26 8 121 52 same style as SS14 same style as SS14 34 171 2. Once the option plan is shared with the designers, they make a range presentation. They make the tech packs for all the styles and get samples of those styles made by the vendors. Once these samples are ready, a tentative range is prepared and presented. The range consists of all the styles and options give in the option plan. 31 3. After the range presentation is done, the range is closed, wherein, the buyer and designers sit together and decide which styles need to be selected for the final range, which depends on the number of options decided in the option plan, the styles, MRP and the current market trend. They also decide how many options (i.e. different colors and prints) each style will have, if there needs to be any change in the fabric or embellishments and any other modifications are required. Also, during this time, apart from the option plan which was prepared by the buyer, another option plan is prepared by the planning team wherein they give the budget for the season for each category, i.e., how much can be bought, how much needs to be the l sell thru, what should be the rate of sale per week, what will be the shelf life of the ia merchandise, etc. PD F St ud io Tr Below is the option plan for AW’15 for the category “Career wear tops”: On the basis of these option plans, the range is closed. de sk 4. After the closure of the range, the fits start, wherein all the samples are tried on mannequins. These samples need not necessarily be of the same colour or fabric or have the exact embellishments decided during the range closure. The sole purpose of fits is to check how the garment’s fit is on the mannequin and not the aesthetics. The buyer, designers and technical team are a part of this process. Any changes to be made in the garment are noted down and mentioned in their tech packs. 5. Once the fits are done, the tech packs for each sample is made after which the process of handovers start. Here, the buyers handover the samples to the sourcing team and brief them as to what fabric the garment needs to be made in, how many quantities are required, what embellishments need to be used, what the MRP of the garment will be etc. 32 The cost is negotiated so that the garment can be made at the least cost and the required margin and MRP can be put. 6. Once the handovers are done, the sourcing team discuss with their vendors as to at what best cost can the garment be made keeping in mind the style, design, quantity, etc. The vendors fulfilling these criteria are asked to make the pre-production samples. Below is a de sk PD F St ud io Tr ia l sample cost sheet which is sent to the vendors: 7. The pre-production samples are basically the final garment that will go to the stores. The fabric, colour, embellishments and other trims are exactly the same as required. The changes that were noted down during the fits are incorporated in the PP samples. Not only do the PP samples need to have the exact fit but also be aesthetically correct with the right fabric, colour and trims. 33 8. Once the PP samples are approved, the production starts full-fledged. The lead time for production is generally 2 months. 9. Once the production is complete, a sample of all the garments is checked. These samples are called shipment samples. These samples are checked before they are sent to the warehouse. These are what will go to the stores. They also have the all the tags and labels attached. 10. After this, the merchandise is sent to the warehouses which take around 10 days. Pantaloons has three warehouses: l a. Bhiwandi- for the west and south zone ia b. Jhajjar- for the north zone Tr c. Barasat- for the east zone io 11. After the inward at the warehouses, the merchandise is sent to all the stores across India. ud This process takes around 10 days. Not all the merchandise is sent at once. The range is introduced in two parts (example for St AW’15): Hit 1: the first part of the range hits the stores around 15th august Hit 2: the rest of the range comes to the stores between 15th September and 1st PD October F All the sale done during these two hits are on full price which generally happens over 14-17 de sk weeks, after which the end of season sale (EOSS) takes place between December and January (4-6 weeks). Observation: • No process or system can be perfect • Although the process of range development at Pantaloons is near perfect , there are certain minor bottlenecks which, if worked upon, can make the process even better • No one person or team is accountable for the slowing down of the process, but each and every person working towards developing a range should reflect upon these constraints and work towards removing them • Some inputs were taken from all the buyers as to whether they face any problems during the entire development process 34 • Some of the difficulties are mentioned here and suggestions have been made so that the process can be made smoother and more efficient 4.1 Problems and suggestions: 1. Better co-ordination between designers: Brands having more than one designer face problems due to lack of coordination between them Each designer works on a different category which sometimes result in uncoordinated looks During the range presentation this problem is very prominent when the different styles cannot be coordinated This problem can be overcome if designers start working together and the each category l Tr ia is designed keeping the other categories in mind io 2. Difference between the original design and final outcome: Sometimes, the final garment is not the same as the original design Reasons being: ud St Non-availability of required fabric at the time of development, leading to use of fabric which is available at that time, which can be of better or poorer quality F Non-availability of proper trims and print techniques PD All this leads to the same fabric and trims being used at all steps with lesser scope of changing them due to risks like delays or non-availability of fabric for bulk production de sk Leading to less variety at stores and standard fabrics and trims being used every season Hence, all the right fabrics and trims should be approved at the very beginning and experiments with new fabrics 3. Selection of shoot styles: Shoot styles are those styles which would be advertised on various types of media across the country The problem which occurs in this process is that many a times buyers are asked to select these styles before the quantities of that particular style has been decided upon This leads to re-selection of new styles incase the previously selected ones are dropped For instance, a particular style has been chosen as the shoot style. But when the time comes, only 800 quantities for that style has been decided which means that the style will 35 not go to every store and would go to only the top few stores. In such a case, that style cannot be advertised across the country as a customer might be expecting that style to be present at every store In such a situation, that style needs to dropped and another one needs to selected This process, therefore, becomes cumbersome leading to repetition of work Hence, in order to avoid this, shoot styles must ideally be selected only once their quantities have been finalised Also, there should more involvement of buyers rather than the designers when it comes to selecting shoot styles as a proper knowledge about the product, its MRP, how many stores it would go to, etc is required apart from the aesthetics of the product and the A problem that keeps occurring is that during handover to the sourcing team everything Tr ia 4. Need for a better system to make work more organized: l buyers are more aware about these factors, hence, their involvement should be more. that needs to be handed over is never together which leads to delays What is required is a proper folder (hard/ soft) with each style’s tech packs and CADS io ud that should be maintained by the designers and the same should be shared with the buyers St This will ease out the process of handovers, and avoid last minute running around F PD 5. Smoothening the process of range presentation: Since the range presentation of all the worlds, i.e, women’s, men’s and kids, is done at de sk the same time, this sometimes leads to overload of work for the technical team Once the range presentation is over, all the samples are sent to the technical team, who make the tech packs for each sample This leads to excessive work load for them and possibility of error increases as the work is done in a rush In order to make this process more efficient, the range presentation for each world should be done within a week’s gap of each other so that there is sufficient time for the technical team to finish their work for each world with ease and without any rush 36 l ia Tr io ud St F PD de sk CHAPTER 5: CUSTOMER SURVEY A customer survey, pertaining only to the brand “Annabelle”, was conducted in order to understand how much a consumer is satisfied with the brand and what she perceives of Annabelle as compared to other competitive brands. A questionnaire was prepared in order to survey a sample size of 100 customers. The survey was conducted in four stores of Pantaloons in Mumbai. 37 1. Upon asking to rate the collection of Annabelle on the basis of four parameters, following was the response: (5 being the highest, 1 being the smallest) 5 4 3 2 1 Price 28 30 35 7 0 Fit 18 25 38 15 4 Style 20 27 36 10 7 Quality 25 32 39 3 1 ia l 120 Tr 100 io 80 1 ud 2 3 4 St 60 5 F 40 0 FIT STYLE QUALITY de sk PRICE PD 20 From the above graph it can be deciphered that all four parameters have been majorly given a rating of 3, which means that the consumer is satisfied with the collection, but not highly satisfied. Price and quality have been rated on the higher side, suggesting that the current pricing strategies that the brand is adopting and the quality of products being made are meeting the consumer’s needs. The fit and style of the products can be slightly worked upon as few consumers gave them a rating of 1 and 2. 38 2. When asked what they shopped the most from Annabelle, following were the responses: CATEGORY NO. OF RESPONDENTS Office Wear 38 Evening/Party Wear 52 Accessories 10 60 50 l 40 ia 30 Tr No. of respondents 20 0 Evening/Party Wear Accessories F St Office Wear ud io 10 PD As we can see from the above responses, a majority of respondents have said that they buy Annabelle’s evening wear. de sk Even though Annabelle is primarily a formal, office wear brand, a part of its collection is dedicated to evening wear which includes semi-formal tops and dresses. Given the response of the customers, Annabelle should now not only concentrate on its core category, which is office wear, but also on its evening wear category which is gaining popularity amongst its consumers. 3. When asked which product they bought the most from the office wear category, following were the responses: CATEGORY NO. OF RESPONDENTS 39 Shirts 35 Trousers 22 Skirts 7 Dresses 20 Jackets/Blazers 16 40 35 30 25 l 20 ia No. of respondents out of 100 15 Tr 10 io 5 PD F St ud 0 As we can see, shirts are being bought by most customers which is a positive response de sk because a large portion of Annabelle’s office wear category consists of shirts. Trousers and dresses are performing fairly well which can be further improved if the number of options in these categories is increased. 4. When asked which product they bought the most from the evening wear category, following were the responses: 40 CATEGORY NO. OF RESPONDENTS Tops 58 Casual trousers 11 Skirts 5 Dresses 26 70 60 50 ia l 40 No. of respondents out of 100 Tr 30 io 20 0 Casual trousers Skirts Dresses F St Tops ud 10 PD From the above chart it is very clear that tops are doing very well in this category as 58 out de sk 100 respondents have said that they purchase tops. Dresses are the second best performing category, and can be further improved if more styles and options are added in the coming seasons. 5. When asked to choose the brand which they prefer when shopping for formal wear(only in Pantaloons), following were the responses: 41 BRANDS NO .OF RESPONDENTS Annabelle 65 Van Heusen 21 Allen Solly 14 70 60 50 40 No. of respondents out of 100 ia l 30 Tr 20 io 10 Van Heusen Allen Solly St Annabelle ud 0 From the above response, it can be seen that customers go for Annabelle over other F competitive brands as 65 out 100 said that when looking for formal wear they prefer de sk PD Annabelle. 6. Customers were asked to choose the parameters which they thought was best fulfilled by one of the three brands- Annabelle, Allen Solly and Van Heusen. Following are the responses: ANNABELLE ALLEN 42 VAN SOLLY HEUSEN 1. Value for money 58 27 15 2. High quality product 29 37 34 3. Well-known brand name 18 40 42 4. Trendsetter 21 35 44 5. Good designs and styles 27 34 39 6. Good fit 35 33 32 & 14 42 44 7. Effective marketing Tr ia l advertising 120 io 100 ud 80 60 St 40 20 Allen Solly Annabelle de sk PD F 0 Van Heusen From the above graph we can see that Annabelle is best known providing value for money products as compared to other brands which are slightly higher priced. Annabelle also provides a slightly better fit as compared to the other two brands. Van Heusen is thought of as a trendsetting brand, which is advertised and marketed effectively, hence people are well aware about it. When it comes to an effectively marketed brand, Annabelle scores low and hence, the brand is not very well known to everyone. 43 Since Annabelle is best known for providing value for money it sometimes needs to compromise on the quality of fabric and trims, which is evident from the above response as Allen Solly and Van Heusen have fared better in this parameter. Lastly, designs and styles of Allen Solly and Van Heusen have been rated slightly better than Annabelle, which if worked upon can be improved. 7. Upon asking the frequency of shopping, following were the responses: NO. OF RESPONDENTS Once a month or less 8 Every 2-3 months 27 Every 4-5 months 44 Once in 6 months 21 45 35 F 30 No. of respondents out of 100 PD 25 20 de sk 15 0 ia St 40 5 Tr io ud 50 10 l FREQUENCY OF SHOPPING Once a month or less Every 2-3 months Every 4-5 months Once in 6 months Annabelle introduces its range in two parts called hits. For instance, for the season of AW’15 the first hit is on 15th August and the second hit will be between 15th September and 1st October. This strategy works in favour of the brand as we can see from the above responses that a majority of people shop every 3-5 months, which means they would want to see something new in the store whenever they visit. Through the “two hits” strategy that the 44 brand has adopted it can satisfy its customers with new products whenever they visit the store. 8. When asked what was their basket size whenever they came to shop the following response was generated: 1 38 2-4 49 More than 5 13 ia l 60 Tr 50 io 40 ud 30 St 20 No. of respondents above 100 0 2-4 pieces More than 5 pieces de sk 1 piece PD F 10 Although a majority of customers responded that they bought 2-4 pieces in one shopping trip, there were also a lot of them who bought only one piece. So efforts should be made to increase the basket size of these customers. 9. The following graph shows the different professions that the respondents belonged to: PROFESSION NO. OF RESPONDENTS Student 38 Working professionals 45 45 Homemaker 11 Any other 6 50 45 40 35 30 25 No. of respondents out of 100 20 15 ia l 10 Tr 5 0 Working Homemaker professional Any other ud io Student St From the above chart we can see that the majority of the brand’s customer base consists of women who are either students or working professionals, which are exactly those who the de sk PD F brand caters to and are the target customers of the brand. 10. Following chart shows the age brackets under which the respondents fall: AGE BRACKET NO. OF RESPONDENTS 16-25 29 46 25-30 42 30-35 25 35 and above 4 45 40 35 30 25 No. of respondents out of 100 20 ia l 15 Tr 10 5 25-30 30-35 Above 35 St ud 16-25 io 0 As we can see, majority of the respondents fall under the age bracket of 16-35, which is de sk PD F somewhat close to who the brand actually target. 5.1 Analysis: The collection of Annabelle was rated fairly well with all four parameters, i.e., price, fit, style and quality being given an average rating of 3 which indicates that customers are satisfied with the brand. Price and quality have been given higher ratings indicating that they are the USP of the brand, which is, good quality products at reasonable prices. 47 Tr de sk PD F St ud io ia l The survey brought to light that an increasing number of customers are going for the evening wear category that the brand is offering. On the basis of this, the brand should start increasing the number of styles and options that it offers in the evening wear category in order to attract more customers. Even though the evening wear category is gaining popularity, the formal wear category, which is the brand’s core category, is still doing fairly well. In the office wear category, shirts were the most popular amongst the respondents after which were trousers and dresses In the evening wear category, tops were bought the most after which were dresses. The sale of dresses can tried to be improved by offering more styles When compared to other national brands of Pantaloons, Annabelle was the preferred formal wear brand among the respondents Annabelle is the most preferred brand over brands like Allen Solly and Van Heusen in terms of providing quality products at very reasonable prices. Even though the other brands are more well-known, are more advertised, at times provide better quality products but also come at prices which justify the quality, might have better designs and styles, yet, Annabelle’s performance is better than these brands because it provides value for money along with good quality products. Majority of the respondents shop every 3-5 months, which means that the brand needs to ensure that every time a customer visits the store, she finds something new Majority of the respondents comprised of students and working professionals falling under the age group of 16-35. CHAPTER 6: SALES PERFORMANCE OF ANNABELLE AS COMPARED TO OTHER NATIONAL BRANDS OF PANTALOONS 48 A comparison is done between Annabelle, Van Heusen and Allen Solly on the basis of their respective sell through in order to understand which one is the best performing women’s formal wear brand at Pantaloons. Although there is sufficient data on Annabelle, it was difficult to get as much data for Van Heusen and Allen Solly. The comparison is done of two seasons, i.e., SS’14 and AW’14 1. SS’14 sell through comparison: Inward Quantity Sale Quantity Full Season Sell ia Category l ANNABELLE: 33,781 29,891 Tops- Career 66,708 57,995 87% Jackets & Suits 805 677 84% Tops- Evening 81,020 72,959 90% 1,61,522 89% St 88% de sk ALLEN SOLLY: PD F 1,82,314 ud Trousers io Tr Through Inward Quantity Sale Quantity Full Season Sell Through 30699 24269 79% Inward Quantity Sale Quantity Full Season Sell Through 32304 24391 76% VAN HEUSEN: 49 SELL THROUGH 90 85 80 SELL THROUGH 75 70 65 ALLEN SOLLY VAN HEUSEN ia l ANNABELLE Tr From the above data we can see that Annabelle’s performance, in general, has been exceptional with a sell through of 89%. And it has also done better than other competitive ud io brands. St 2. AW’14 sell through comparison: Sale Quantity Full Season Sell Through 34,313 21,836 64% Trousers 9,717 3,638 37% Tops- Career 38,126 24,465 64% Jackets & Suits 1,199 550 46% Tops- Evening 1,02,731 76,591 75% Winter Wear 43,099 33,966 79% 2,29,185 1,61,046 70% de sk T-shirts leisure Inward Quantity PD Category F ANNABELLE: 50 ALLEN SOLLY: Inward Quantity Sale Quantity Full Season Sell Through 34851 21812 62% Inward Quantity Sale Quantity Full Season Sell Through 41352 27093 65% VAN HEUSEN: SELL THROUGH ia l 72 Tr 70 io 68 ud 66 64 St 62 SELL THROUGH F 60 ANNABELLE ALLEN SOLLY VAN HEUSEN PD 58 de sk It can be observed that the sell through of Annabelle has significantly dropped during this season, but still remains higher than its competitors: From the above data it can be seen that Annabelle performs better than Allen Solly and Van Heusen which was earlier gauged through the customer survey as well. A major contributing factor towards this is Annabelle’s price points, which is way below than what the others offer. 51 EXECUTIVE SUMMARY The purpose of this project, entitled “Perceptual Analysis and Business Performance- A study for Pantaloons’ private label brand ‘Annabelle’ “, was to cover the following objectives: 4. To study the existing process of range development for the season of AW’15 5. To study the customer’s perception about the brand Annabelle in terms of: Satisfaction Expectation Competition 6. Comparison of the sales and sell through analysis of Annabelle with national brands like Van Heusen and Allen Solly. ia l The range development process was covered in a detailed manner, with each step being explained elaborately, the reason being that the company wanted this process to be Tr documented. Certain problems which were faced while executing this process have been io brought to light. ud Next, a customer survey was conducted with a sample size of 100 across four stores Pantaloons in Mumbai. The purpose of conducting this survey was to understand how the St customers felt about the brand, their level of satisfaction, their frequency of purchasing from this brand, how they compared this brand with other national brands which were also sold at The collection of Annabelle was rated fairly well with all four parameters, i.e., price, PD F Pantaloons. Following are some of the conclusions that were brought forward by the survey: fit, style and quality being given an average rating of 3 which indicates that customers de sk are satisfied with the brand. Price and quality have been given higher ratings indicating that they are the USP of the brand, which is, good quality products at reasonable prices. When compared to other national brands of Pantaloons, Annabelle was the preferred formal wear brand among the respondents Annabelle is the most preferred brand over brands like Allen Solly and Van Heusen in terms of providing quality products at very reasonable prices. Even though the other brands are more well-known, are more advertised, at times provide better quality products but also come at prices which justify the quality, might have better designs and styles, yet, Annabelle’s performance is better than these brands because it provides value for money along with good quality products. 52 Lastly, the performance of Annabelle with two national brands, Allen Solly and Van Heusen, was compared in terms of sell through. It was observed that Annabelle was the best performing brand out of the three brands (at Pantaloons stores only). The reason being, which came out during the customer survey, was that all the three brands dealt with women’s formal wear but Annabelle emerged out to be more popular because of the quality products it provided at very reasonable prices as compared to the national brands which also provided de sk PD F St ud io Tr ia l similar products but at a higher price. 53 ANNEXURE QUESTIONNAIRE This questionnaire is part of a survey undertaken to analyse how a customer perceives the brand ‘Annabelle’ and what is her level of satisfaction with the brand. 1. How would you rate the collection of Annabelle on the following parameters?(on a scale of 1-5, 5 being the highest)? 1 2 3 4 Tr ud io 2. What do you shop the most from Annabelle? a. Office wear b. Evening/Party wear c. Accessories ia l PRICE FIT STYLE QUALITY de sk PD F St 3. In Annabelle office wear, which product do you buy the most? a. Shirts b. Trousers c. Skirts d. Dresses e. Jackets/Blazers 4. In Annabelle evening wear, which product do you buy the most? a. Tops b. Causal trousers c. Skirts d. Dresses 5. Which brand do you prefer when looking for formal, office wear? a. Annabelle b. Van Heusen c. Allen Solly 54 5 6. The following grid consists of certain parameters. Kindly tick the brand which you think fulfils that parameter ANNABELLE ALLEN SOLLY VAN HEUSEN St Tr ud io 7. How often do you shop for apparel for yourself? a. Once a month or less b. Every 2-3 months c. Every 4-5 months d. Once in 6 months ia l 11. Value for money 12. High quality product 13. Well-known brand name 14. Trendsetter 15. Good designs and styles 16. Good fit 17. Effective marketing & advertising PD F 8. In one shopping trip, how many products do you buy? a. 1 b. 2-4 c. More than 5 de sk 9. What is your profession? a. Student b. Working professional c. Homemaker d. Any other (please mention) 10. Which age bracket do you fall under: a. 16-25 b. 25-30 c. 30-35 d. 35 and above Name: 55 REFERENCES 1. http://www.adityabirla.com/about-us/vision-and-values 2. http://pantaloons.com/company/ 3. http://retail.about.com/od/retailglossarys/g/sell-through.htm 4. http://en.wikipedia.org/wiki/Customer_satisfaction 5. http://www.scribd.com/doc/29554589/Range-Development#scribd 6. http://www.apexjournal.org/jbamsr/archive/2014/June/fulltext/Laskar%20and %20Abbas.pdf de sk PD F St ud io Tr ia l 7. Reports provided by the company 56
© Copyright 2025 Paperzz