Description

Brand Management

September 2024 Examination

 

 

Rajiv Mehra, a passionate entrepreneur with a background in fashion and retail, is planning to start a retail chain business specializing in ethnic wear from various regions of India. His vision is to create a brand that brings the richness of Indian culture to the forefront through beautifully crafted ethnic garments.

The business aims to be a leading retail chain offering a wide range of ethnic wear for men, women, and children. The stores will be located in major cities and towns across India, catering to both everyday wear and special occasions like weddings and festivals.

 

Products:

Sarees:

Kanjivaram from Tamil Nadu (Price: ₹2,000 – ₹20,000) Banarasi from Uttar Pradesh (Price: ₹3,000 – ₹25,000) Paithani from Maharashtra (Price: ₹5,000 – ₹30,000) Chanderi from Madhya Pradesh (Price: ₹1,500 – ₹10,000)

 

Salwar Kameez:

Phulkari from Punjab (Price: ₹1,500 – ₹8,000) Bandhani from Gujarat (Price: ₹1,000 – ₹6,000) Chikankari from Lucknow (Price: ₹2,000 – ₹15,000)

 

Lehengas:

Zardozi from Rajasthan (Price: ₹10,000 – ₹50,000) Mirror work from Gujarat (Price: ₹5,000 – ₹30,000)

Kashmiri embroidery from Jammu and Kashmir (Price: ₹8,000 – ₹40,000)

 

Kurtas and Sherwanis:

Handloom kurtas from West Bengal (Price: ₹1,500 – ₹10,000) Silk sherwanis from Karnataka (Price: ₹5,000 – ₹30,000)

Accessories:

Dupattas, stoles, and shawls with regional embroidery (Price: ₹500 – ₹5,000)

Traditional jewellery and footwear (Price: ₹1,000 – ₹10,000)

 

Segmentation, Targeting, and Positioning (STP):

Demographic: Age: 18-60 years Gender: All genders

Income: Middle to upper-middle class

Occupation: Working professionals, homemakers, students, and business owners

 

Psychographic:

Lifestyle: Fashion-conscious, culturally inclined, and socially active individuals

Interests: Traditional fashion, cultural events, and heritage crafts

 

Behavioral:

Purchase Behavior: Regular shoppers of ethnic wear, occasional buyers for special events

Usage: Daily wear, festive wear, and wedding wear

The business targets urban and semi-urban middle to upper-middle-class consumers who appreciate traditional Indian attire. These customers value quality, craftsmanship, and cultural authenticity. The brand will also cater to NRIs and international customers through an online store.

However, Rajiv is facing several dilemmas regarding the brand name, logo, domain name, and other branding challenges. He hires you as a consultant to address challenges in the area of Branding.

 

You can make necessary assumptions while answering the questions.

 

Q1. As the brand consultant, you’ve been tasked with developing various brand elements, including the brand name for Rajiv Mehra’s business. Elaborate with the reasoning of various elements that you will suggest Rajiv.   (10 Marks)

Ans 1.

Introduction

In the vibrant landscape of ethnic wear, the creation of a brand that encapsulates the essence of India’s rich cultural tapestry is both exciting and demanding. As a consultant for Rajiv Mehra’s upcoming retail chain, the primary task is to develop brand elements that not only resonate with the target market but also reflect the authenticity and diversity of Indian ethnic wear. These elements include the brand name, logo, and visual identity, each playing a pivotal role in establishing the brand’s presence in the market. A well-crafted brand name should serve as a cultural ambassador, while the logo and other visual components must complement and enhance the brand’s narrative. This comprehensive approach ensures the brand appeals to a diverse consumer base, ranging from young adults to older generations who cherish traditional

styles for both domestic and international consumers.

It is only half solved

Get Complete assignment help from  us

Price – 290/  assignment

NMIMS Complete Solved Assignments

Available for session  SEPT 2024

The last date is  29^th AUG- 2024

Our assignment help is affordable

Our goal is to provide you with the best and the cheapest services

Contact No – 8791514139 (WhatsApp)

OR

Mail us-  [email protected]

Our website – www.assignmentsupport.in

Online buy – https://assignmentsupport.in/shop/

 

 

Q2. Create and explain the brand resonance model for Rajiv’s Business covering six brand building blocks.  (10 Marks)

Ans 2.

Introduction

Building a brand that resonates deeply with consumers is crucial for the success of any business, especially in the culturally rich and competitive market of ethnic wear in India. For Rajiv Mehra’s venture, “Vastram,” developing a strong brand resonance is essential to differentiate it from competitors and foster customer loyalty. The brand resonance model provides a structured approach to achieving this, focusing on developing relationships with customers through a series of logically connected steps. These steps, known as brand building blocks, include brand salience, brand performance, brand imagery, brand judgments, brand feelings, and brand resonance itself. Each of these blocks plays a crucial role in enhancing the

 

 

Q3. As a brand in charge, explain to your team the given points:

1. Explain five levels of product for the business. (5 Marks)

Ans 3a.

Introduction

Understanding the five levels of product is essential for our team as it enables us to deliver value that exceeds customer expectations and enhances their overall experience with “Vastram.” Each level adds a layer of value that transforms the basic product into a comprehensive solution that addresses various consumer needs and desires. As we gear up to market our unique line of ethnic wear, it’s crucial to recognize these levels to ensure that our

 

 

1. What are the various types of risk that consumers may perceive while buying and consuming the product from Rajiv’s Business? (5 Marks)

Ans 3b.

Introduction

In the realm of consumer behavior, perceived risk plays a critical role in the decision-making process, particularly in sectors like ethnic wear where both emotional and financial investments are significant. For “Vastram,” understanding the types of risks that consumers may perceive when buying and consuming our products is vital to tailor our strategies effectively. Addressing these concerns proactively can enhance trust and satisfaction, thereby