INTERNATIONAL STRATEGIC MARKETING

PSDA
Segmentation targeting and positioning of an export house

BBA+MBA (DUAL)
Semester 7

MADE BY: - Gautam Tandon (roll no-22)

Achin Tyagi (roll no-18)
Akshat Kamal (roll no-34)
About Radiant Exports:-

Registered in 2008 , Radiant Exports has made a name for itself as a top supplier in South
America, North America, South Africa, Asia, and Europe . The supplier
company is located in Noida, Uttar Pradesh and is one of the leading sellers of home
furnishing products

Contact details

A-70, Block A, Sector 64, Noida, Uttar Pradesh 201301

The firm supplies the following products

1.) Cushion covers

2.) Bed covers
3.) Table Cloth
4.) Table runner
5.) Rugs and carpets

It has become a potent force in export of Indian home furnishings &

household textiles. It’s all about honest commitment coupled with
integrity in producing high quality textile products for Today's world
which contribute significantly to its rapid progress.
About home furnishing market
 Expansion and developments in real estate industry, have supplemented the
growth of world home decor market. Globalization facilitates easier and wider
availability of home decor products and designs for consumers. Moreover,
growing consumer preference towards adoption and usage of eco-friendly
products, known for their minimal impact on the environment, has also boosted
the growth of the market.
Nowadays, consumers prefer online retail platforms for buying furniture, owing
to availability of a wide array of home decor products at discounted/affordable
price. Increasing cost of raw materials, such as leather and superior quality
wood, is limiting the market growth. Improving lifestyle and increasing
disposable income of individuals would offer several growth opportunities to
the players operating in the market.

Growing consumer interest towards home decor:

Number of homeowners has increased significantly in the recent years,
especially in emerging economies, thereby spurring a growing interest, among
these owners. Additionally, home décor products have gained a high acceptance
among home owners who want to renovate the home interior and exteriors. The
impact of this factor would increase during the forecast period, thereby
consequentially fostering the demand of home décor products, during the
forecast period. Real estate industry has witnessed significant market growth
worldwide, owing to the increasing disposable income.
Growth in real estate industry:
Real estate industry has experienced growth in the last few decades in
residential as well as commercial sector. Booming real estate industry is driving
the growth of the home décor market. Increasing growth rate of new
constructions, especially in developing Asian countries would influence the
market by 2020.
Increasing rate of urbanization:
Increasing urban population is one of the strong impacting factors affecting the
home decor market. Urban culture influences an individuals’ living style.
Presently, most of the world population lives in rural areas. According to the
data released by United Nations, near about 54% of the world’s population were
living in urban areas in 2014, and more of rural population is expected to shift
to urban areas during the forecast period. The impact of this factor would
increase during the forecast period, thereby consequentially fostering the
demand of home décor products in the near future.
Increasing cost of raw material:
Cost and availability of raw materials play a vital role in home decor market.
Raw materials such as metal, wood, plastic, glass, leathers, rattan, fabrics and
stone are used for manufacturing furniture. For floor covering, manufacturing
tiles, wood & laminate, vinyl & rubber, carpet & rugs and others (linoleum,
cork, bamboo, concrete), are essential raw materials. Cost of raw materials has
increased significantly in the past few years. However, by 2020, it is expected
that the cost of raw materials such as plastic and glass, would decrease owing to
advancements in production technology of these raw materials Thereby, these
factors would create a favorable environment for home decor market in future.

With consumer interest becoming more and more widespread for

newer furnishings and ways to beautify their living surroundings
the need for their maintenance comes into the picture and radiant
exports being an exporter of home furnishing products brings
them into the fold
Segmentation Target positioning of radiant exports
In marketing, segmenting, targeting and positioning (STP)is a
broad framework that summarizes and simplifies the process
of market segmentation. Market segmentation is a process, in which
groups of buyers within a market are divided and profiled according
to a range of variables, which determine the market characteristics
and tendencies. The processes of segmentation, targeting and
positioning are parts of a chronological order for market
segmentation.

 Segmentation comprises identifying the market to be

segmented; identification, selection, and application of bases to be
used in that segmentation; and development of profiles.

A market segment follows a group of customers with similar needs

and wants

Major segmentation variables

1) Geographic
2) Demographic
3) Psychographic
4) behavioral
 Targeting is the process of identifying the most attractive
segments from the segmentation stage, usually the ones most
profitable for the business.

The company can go for 5 pattern of target market selection

1) Single segment specialization

2) Selective specialization
3) Product specialization
4) Market specialization
5) Full market coverage

 Positioning is the final process, and is the more business-

orientated stage, where the business must assess its competitive
advantage and position itself in the consumer's minds to
be the more attractive option in these categories.
 1.) SEGMENTATION
The company offers to a wide range of consumer due to the nature of
the product as being a home furnishing product. Their consumer base
consists of generation x and millennial as it forms a major buying
force in terms of furnishing products and requires immediate
maintenance of their products. Thus a geographic segmentation is
followed as the company caters to a particular region, but tend to
introduce products that are made out of materials like jute as they are
considered exotic in areas like South America, Europe etc

Target audience
 The target audience of the company on the basis of age is 23
years and above.
 Preferably married couple looking for better ways of living.
 The consumer is socially aware and active about their
surroundings.
 They are design conscious.
 Need for stylish interiors and beautiful indoors.
 Also a large section includes the women in charge of their
households and who want to make their surroundings look as
beautiful as it can possibly be.
 Product variations are also made depending on the kinds of
likings disliking on the basis of region
 Product range comprises of woven and tufted rugs in
wool, cotton chenille, jute and blends of different yarns
and textures to provide a more natural and earthy feel to
the consumers.
 2.) TARGETING
Thus radiant exports follow Selective specialization as they offer
products like
1.) Bed covers
2.) Bed runners
3.) Table cloths
4.) Table runners
5.) Rugs and carpets
All these products belong to the home décor industry and offer
various level of service according to the part of the household they are
used on.
Factors like rise in disposable income and also the growing trend of
individuals opting for professional services to do their interiors have
together led to a rise in this category.
 3.) POSITIONING
Radiant exports position themselves to be the prime provider of
international furnishing needs
To fulfil this they have developed their site over which company
displays the nature of the product being sold as well as the price
range of the product and the details of the exporter should an
international retailer be interested in selling their products
A robust supply chain ensures on time service delivery
They believe that the household is the place where the consumer
can really express themselves freely and want their products to feel
the same way thus try to make products that feel fresh, innovative
and also fulfil the stylistical needs of their consumers
The company is registered by the Rugmark, certification trademark of
the carpet industry, as they believe to create a working atmosphere of
‘Anti -Child Labour’. They strongly oppose child labour not only in
their perimeter but also anywhere in the industry.