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Home Décor Market Analysis & Strategy

The document outlines a sector study and product development project for the home decor market. It asks students to: 1) Analyze competitors in the home decor market based on segmentation, targeting, positioning, products, pricing, and promotion. 2) Develop a new product for the market, presenting pictures and details on features and estimated costs. 3) Create a brand launching various home decor products sourced from an NGO, including the new product. Teams must define target segments, positioning, and a marketing strategy covering retail channels, promotion, and pricing. They must also build a Facebook page to promote the brand.

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Tapaswini Mallick
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61 views3 pages

Home Décor Market Analysis & Strategy

The document outlines a sector study and product development project for the home decor market. It asks students to: 1) Analyze competitors in the home decor market based on segmentation, targeting, positioning, products, pricing, and promotion. 2) Develop a new product for the market, presenting pictures and details on features and estimated costs. 3) Create a brand launching various home decor products sourced from an NGO, including the new product. Teams must define target segments, positioning, and a marketing strategy covering retail channels, promotion, and pricing. They must also build a Facebook page to promote the brand.

Uploaded by

Tapaswini Mallick
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Part 1: Sector Study Product category: Home Dcor (This includes things like clocks, artwork, calendars, wind

chimes etc. etc. basically everything that makes your home look good but has minimal utility otherwise. The clock of course has some utility but I hope teams get our drift) Brief: The teams will have to study this market and the different players within the segment. We suggest you look at the following key aspects for different types of players in the industry. Competitor analysis: Segmentation & Targeting Positioning Key strengths and weaknesses Product mix Pricing strategy Retail channels used Promotion tactics used

Deliverable: The teams will have to submit their observations and insights into the sector. Please restrict this to 3 slides. Part 2: New Product to be launched: Brief: Having analysed the sector, we expect that teams will have a good understanding of the different types of products in the category. We want you to introduce a product in this category. With no restrictions on your choice, we believe that your competitor analysis will help you identify gaps in the offerings to the consumers. An example is a wind chime clock which instead of an alarm sounds a wind chime.

Features are that it sounds a wind chime initially; but if the person doesnt wake up and turn off the alarm after a minute, it starts sounding the loud traditional alarm. Deliverables: 1) 2) 3) 4) 1 or 2 pictures of the new product Features of the product Price that you expect to charge for this product (limit of Rs. 200) Estimated cost of the product

Please restrict entry to 2 slides. Part 3: Marketing Strategy for a brand: The teams will have to introduce a new brand to the market. The products under the brand include: 1) Wind Chimes

2) 2012 Calenders

3) Candles

4) Paperweights

5) Decorative aroma diffusers

And... 6) Your own product (designed in Part 2) Each of these products is priced under Rs 200 per piece. They are all sourced from an NGO called Arzoo, which works for the welfare of women artisans in rural areas. (Pictures are only indicative) Deliverables: 1) Each team will have to take decisions regarding the target segments and the positioning of the brand. 2) Further, teams have to make a detailed marketing strategy for the brand. This should include (but need not be restricted to): Retail Channels Promotion strategy Pricing strategy 3) Finally, based on the promotion strategy, each team is required to create a Facebook page to promote its brand. Please restrict this to 5 slides.

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