Marketing Strategies of Godrej

6674 Words Jan 5th, 2012 27 Pages
Godrej
Marketing strategies of Godrej

UNIT-1

INTRODUCTION

Marketing is defined by American Marketing Association [AMA] as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
Broadly “marketing is a social and managerial process by which individuals and organizations obtain what they want through creating and exchanging value with others.”

Marketing has always been one of the most important and decisive tool in determining the sales and success of a particular company. Marketing does not only include advertising and publicizing about a particular product or service, but also means keeping up with the
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The furniture sector in India only makes a marginal contribution to the GDP, representing about 0.5 per cent of the total GDP. The major part of this industry is in the informal sector that is, about 85%. The remaining 15% is in the formal sector and is made up of manufactures and importers catering to the various segment of the industry. Some of the major segments in furniture industry are Residential, Office, Contract and Institutional. There are other segments also based on the application (Kitchen, Bathroom, Bedroom, etc.) or on the raw material (wooden, plastic, metal, bamboo, etc). These industry segments includes big payers from the formal sector such as Godrej & Boyce Manufacturing Co. Ltd., BP Ergo, Featherlite, Haworth, Style Spa, Yantra, Renaissance, Millenium Lifestyles, Durian, Kian, Tangent, Furniture Concepts, Furniturewala, Zuari, Truzo, N R Jasani & Company, V3 Engineers, PSL Modular Furniture, etc. According to one market survey home improvements (38%) and leisure holidays (37%) as the two pursuits Indian consumers are willing to indulge in. Many of the world's leading home fashion brands are available in India through domestic retail outlets. Interior decorating is a burgeoning industry in India. Though formerly seen as a facet of architecture, the growing middle class has caused an increased demand for custom-designed decor and furnishings. This extends from residential
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