͙ 1 SKINZZ - A class above A PROJECT REPORT ON ͞Inner-wear : SKINZZ- A Class Above͙͟ UNDER GUIDENCE OF Prof. Amit Patil PRESENTED BY SATBHAVNI R. GUPTA Enrollment No. 10BSP1337 1 ͙ 2 SKINZZ - A class above ACKNOWLEDGEMENT I would like to express our gratitude to Prof. AMIT PATIL for providing me with a wonderful opportunity to work on an intensive ³Marketing Project on Vest ( SKINZZ-A Class Above)´ project encouraging me to do the necessary research work in accomplishing this assignment. Sir, your recommendations and suggestions have been absolutely valuable during the lectures. Finally, words alone cannot express the gratitude I owe to you. In my journey through this project I learnt a lot about Management Marketing and how to make effective presentations through our co- ordination among the group members. Honestly, it was an enjoyable experience which pushed me to work to my limits. 2 ͙ 3 SKINZZ - A class above EXECUTIVE SUMMARY In this project of inner-wear where there is already a set of market sitting with µn¶ number of competitors in it, its actually a challenge to push those competitors back and make your name in the market. SKINZZ ± A Class Above« A newly launched brand in the market has tried it best to capture the market by taking into consideration each and every fundamental of marketing theories. It has made an attempt by making itself available to not only men but also to kids and women across the country. It targets mostly middle class people and also targets Mid-high class of people. It offers varieties of patterns and colors according to the test of an individual. Like for kids we have multi-colored inner-wear also with all cartoons print on it. This itself pulls kids to SKINZZ. In case of females SKINNZ get a very soft cotton material line with µn¶ number of patterns. So that now ladies can carry themselves comfortably in anything they wear. For Men SKINZZ have special attention to the shade that is we have wide varieties of sporty color vest. Also an attention has been paid to the fitting of vest to all body types and body sizes. A very unique option which SKINZZ provides is that now you can get your vest customized the way you want. So get our own style the way you want only with SKINZZ- A Class Above « Cost is another factor where we have tried competing with other competitors. In SKINZZ we have tried giving occasional discounts as well as discounts on bulk purchase. Although the cost is same to that of competitors but the unique offering and unique discounts make SKINZZ stand out in the market of inner-wear. Also a market Survey which clearly shows the untapped market for women inner-wear has been observed by SKINZZ. So in future SKINZZ would try its best to tap that place also and boom in the market with Brand name that lasts forever and ever. 3 ͙ 4 SKINZZ - A class above Table Of Content The Journey of Inner-wears from cotton to trendy intimate wear Worldwide Market Growth Forecast of Hosiery Prices to keep steady Market Survey: Women wear - the most profitable segment Launch Of µSKINZZ¶ ± A Class Above p Varieties of SKINZZ p Unique Variety- Customized Vest the way you want Marketing Mix Analysis of SKINZZ p PRODUCT y Brand name y Styling y Quality y Packaging p PLACE y Channel decisions y Push and Pull strategy y Product y Cost y Consumer location p PRICE y Suggested retail price y Volume discounts and wholesale pricing y Cash and early payment discounts 4 ͙ 5 SKINZZ - A class above y Seasonal pricing y Bundling y Price flexibility y Price discrimination p PROMOTION y Advertising y Sales promotions y Public Relation STP Analysis p Segmentation of µSKINZZ¶ p Targeting p Positioning µSKINZZ¶ WIBLIOGRAPHY & BIBLIOGRAPHY 5 ͙ 6 SKINZZ - A class above The Journey Of Undergarments From 'Cotton' To Trendy Intimate Wear In the middle ages things were easygoing as women wore various corset-like alternatives like the cotte, the bliaunt and the surcot, which move on easily over their dresses. Different kinds of spaghetti which in lay men term is called as µSAMIIJ¶ have been used by women. Similarly µBANYAN¶ has been used very commonly by the men. It is called as vest but trend of calling it as banyan exists in this modern era also. An English King introduced the vest in England though Royal Proclamation on October 7, 1666. It was a simple straight cut, and close fitting garment made from black cloth with a white silk lining. Promoted personally by the king, it was soon popular with everyone. But the political purpose was to undermine French fashion influence in England and by the vests simple lines was to defy the extravagant dictates of Versailles. The vest was based on a style brought back to England by visitors to the Pesian court of Shah Abbas. That model had sleeves and was longer than the coat worn over it. The vest evolved shorter to above the knee, then to mid-thigh, to the top of the thigh, and finally by 1790 to the waistline. It became sleeveless around the 1750¶s. The simple and sober beginnings were all but forgotten by the 18th century when the waistcoat became a brilliant display of luxury fabrics and detail such as bold buttons. Even during the staid Victorian era the waistcoat retained it¶s fancy feeling (polka dots, stripes and floral patterns reined) The decline in the vest as fashion in the early 20th century were probably due to improvements in central heating, the emergence of the sweater and wartime clothes rationing. 6 ͙ 7 SKINZZ - A class above From the 16th century to 1668 the vest worn was in the form of an under-doublet, which was waist length, quilted and worn for warmth it became more and more decorative. From 1668 on, an undercoat cut similar to the justaucorps. Justaucoprs was a tight fitting knee length coat worn over a waistcoat. Borrowed from a military coat and worn from mid 17th to early 18 century in England and France. It was made with sleeves until 1750 went out of fashion until 1800. Gradually became shorter until reached the waist in 1790. Single breasted until 1730¶s Double breasted in the 1780¶s and 1790¶s with both styles common in the 19th century. 21st century-the era of intimacy-intimate wear: In this era the fashion is pushing men & women to exhibit the undergarments. Women & men have more choices than ever in terms of style, design, fabrics etc. Since many centuries fashion in connection to inner- wear styles was toggling between the feminine and masculine, painful and practical. In the recent time, undergarment is the most attractive, luxurious that is worn intimately and respected for its practicality and comfort. 7 ͙ 8 SKINZZ - A class above Worldwide Market Growth Forecast of Undergarments Today, the main concern about marketing the undergarments is the fight for share between global brands and retailers' local labels worldwide. It is also about consumers' choice and acceptance of brand. With its matchless combination of fashion and function, inner wears are a product category that crosses the fine line between necessity and luxury. Besides these features, it has increased into about a US$30 billion-a-year industry and placed itself for further growth over the next five years. To know the global market for inner-wears, it is essential to check out not only the competition between brands, but also the separate wars taking place between brands and local retail labels. The leading player among inner-wear brands worldwide is United States-based manufacturer Sara Lee, which has a major market share in its home country as well as the European market. After Sara Lee there exist companies like Warnaco, Fruit of the Loom, VF and Maidenform, in Europe Triumph also possess a major market share. The more comfy La Perla, meanwhile, is atop the high end of the world inner-wear market. In the retail sector, US chain Victoria's Secret, the UK's Knickerbox and northern European retailer Hunkemoller provide to the specialist market, but the huge quantity of inner-wear is traded by clothing retailers like Marks & Spencer and hypermarkets like Wal-Mart and Carrefour. Though, the tendency is to be robust on briefs, and repeatedly sell these items in multiple packs. While the leading retailers and brands keep up to propel the market, the nature of uniqueness demands that there is also a push of smaller, more up market labels that offer to a few niche. Of the total world inner-wear market, amounted to US$29.5 billion annually in 2003, briefs and vests calculated to 56 per cent of total sales, while briefs and the body wear/daywear/shape wear category add 32 per cent and 12 per cent in that order. Of about 6.4 billion briefs and vests were procured worldwide in 2003. The report shows that the average men & woman buys two vests and five pairs of briefs per year. Inner- wear sales in the developed world are observed to be basic fashion-driven, with the 8 ͙ 9 SKINZZ - A class above average men & woman having six vests and eight pairs of briefs in her wardrobe - more than they usually requires. The buying of these products is normally determined by style factors, like as what styles (g-string, padded bra, v-cut briefs, boxers) look best under certain types of clothing, or what colors appear best.