The handicraft industry

The handicraft industry

The industry chosen is the handicraft industry and the reasons for selecting the same are as follow

Indias art and craftsmanship is considered to be the best in the world Abundant skilled labour in the industry approximately 41 lakhs Raw materials for most arts and crafts are available locally Possess a variety of crafts ranging from art metal ware to bamboo and jute products Wave of oriental fashion Huge potential with large retail chains Tourism being seen as a vehicle of growth

Owing to lack of or inadequate data and information on world production and import of handicrafts it is difficult to make an exact assessment of the size of the global market for handicrafts Handicrafts accounting for the world imports consist of both genuine handmade handicrafts and similar machine made substitutes The handicrafts sector is dominated by the imports of works of art carpets and wood wares followed by basket wares embroidery and the base metal decorative articles The Handicrafts sector is one of the star performers among the thrust products identified by the Government of India for export promotion and growth As a result exemption is given on sales tax and incentives are given on power connection etc The business is to be located in Rajasthan

Business Opportunities in Rajasthan

Rajasthan is the most preferred State for investments in certain sectors Easy availability of raw resources and skilled labour makes it the natural choice for handicraft based industries Tourism is a thriving and vibrant industry in Rajasthan The State attracts one third of the tourists coming into India The flourishing tourism industry helps the development of handicraft industry simultaneously because of the variety and quality of products and the demand in the international and domestic market

This location has been selected due to the following reasons Availability of raw materials and skilled labor in Rajasthan Land is cheap Water not required for manufacturing process Abu road is an industrial area and is located close to Mount Abu which is a famous tourist destination Heavy influx of tourists every year at Mount Abu Has a lake called Nakki Lake which can fulfill the minimal water requirements

Elements of the marketing strategy

The target market The company plans to reach the middle class and the upper middle class of the society Market segmentation After identifying the target market the company will be manufacturing and developing products that appeal to that section of market Mass production The company will have a single marketing plan to massproduce the products at the plant located in Rajasthan The four Ps of marketing mix includes product price promotion and place The following shows how the company is planning to use the marketing mix to promote and sell the products

a Product mix

Variety There will be a lot of variety in the products in terms of design colour etc There will be items like bracelets anklets necklaces rings etc from which anything can be selected by the customer according to his or her choice or need

Quality The quality of the products will be superior and of international standards as the company will also be exporting them

Design There will be a variety of designs in each category of jewellery

Sizes The products will be available in different sizes and shapes as per the specification of the clients and also according to the demand

Features Guaranteed and unbreakable beads and stones of different colours different sizes and shapes for all occasions and for all age groups will be one of the companys USPs

Brand name The brand name of our company is Fine Jewels collection

Packaging The jewellery will be given in small velvet pouches with the brand name on it This will be given in case of rings bracelets etc In case of necklaces and in case of big items velvet boxes will be given

Services Services like after sales services will be provided to the clients and if there is any

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