I have been asked this question several times. It is important that there should be certain background or orientation in order to perform well. Here are my top readings that you can do for GD/PI for MFM.
1. Images Retail: It is a monthly magazine, you would do well to go through it. It is also important that you know the meanings of the terms such as footfalls (No. of people entering in a store), Ticket Size ( Average bill value of a store), Visual Merchandising ( The display of merchandise in the store) Markup ( Cost + Profit) and Margin ( Sales Price- Profit).
2. Economic Times or Financial Express or Mint: Look for the news related to apparel retail, textile or apparel exports.
3. Business of Fashion: A must read magazine. Please go through it atleast to have the idea of how brands are doing.
4. Vogue: To get a hang of what fashion is all about.
5. Visit to a Mall: Go to apparel stores and note down:
a. Best store in terms of visual merchandising
b. Best store in terms of variety.
c. Best store in terms of service
and so on... you will get to know so many things about stores.
6. A textile Book: Get to know the meanings of Voile, Silk, Chiffon, Georgette, dyeing, Batik and so on. Should know the difference between weaving and knitting, dyeing and printing etc.
7. Your own wardrobe: Study your cloths. How many formals, casuals etc do you have. What are your wearing and spending patterns.
This is just a small list where you can get enough material that will see you through the conversation during GDs and PI.
Friday, April 30, 2010
Louis Philippe- Ventures into Mens Footwear
Overall Market of Footwear in India: 30,000 cr.
Branded Footwear Market: 2000 cr.
Expects the new category to contribute at least 15% of the turnover.
COO of Louis Philippe: Vishak Kumar
No. Of Stores where footwear range is available: 130
Price: 2999 to 4999
Global and Local sourcing: 1 lakh pairs a year
Growth of Louis Philippe Brand: 20% per year
Branded Footwear Market: 2000 cr.
Expects the new category to contribute at least 15% of the turnover.
COO of Louis Philippe: Vishak Kumar
No. Of Stores where footwear range is available: 130
Price: 2999 to 4999
Global and Local sourcing: 1 lakh pairs a year
Growth of Louis Philippe Brand: 20% per year
Wednesday, April 28, 2010
Discussion Topic: Pepsi Launching Fashion Merchandise in India
Discussion Topic
Pepsi Launching Fashion Merchandise in India
A report by Financial Chronicle had reported in September that Pepsi would enter into exclusive fashion and apparel stores in India to sell its new brand of merchandise. It would be in mid price segment with Tier II and Tier III cities would be the core markets.
1. Why Pepsi is thinking about entering into the apparel and fashion business in India.
2. Can it Tap the opportunities in the Indian Retail Industry with its apparel and Fashion Business.
3. How it will fare in the hotly competitive Indian Retail Industry.
Pepsi Launching Fashion Merchandise in India
A report by Financial Chronicle had reported in September that Pepsi would enter into exclusive fashion and apparel stores in India to sell its new brand of merchandise. It would be in mid price segment with Tier II and Tier III cities would be the core markets.
1. Why Pepsi is thinking about entering into the apparel and fashion business in India.
2. Can it Tap the opportunities in the Indian Retail Industry with its apparel and Fashion Business.
3. How it will fare in the hotly competitive Indian Retail Industry.
How to Approach GD in MFM- The Production Paradigm
How to Approach GD in MFM- The Production Approach
This approach is more applicable for the students preparing for the M.F.Tech Course. However, the cases can be asked in MFM too. Again let me first discuss a brief theory:
Any production situation is characterized and judged by broadly four parameters:
1. Quantity
2. Quality
3. Cost
4. Delivery
Which means that these four ( Double Q, C,D) can become levers for you to initiate, contribute and conclude any discussion based on these. Let me tell you a typical situation:
You are the CEO of an apparel manufacturing company. How will you beat manufacturer from say, Bangladesh.
Here the parameters for you to evaluate are Quantity, Quality Cost and Delivery. Thus can we give the right quantity with the quality delivered at the right cost and within the time asked by the client. The whole discussion can revolve around the levers.
Hope this will take care of at least 20% of the discussion topics asked in MFM.
Cheers !!!
Tuesday, April 27, 2010
How to Approach GD in MFM- The Marketing Approach
How to Approach GD in MFM
There can be many approaches towards contributing to a GD for MFM. I like the marketing approach best, because most of the topics/ case studies asked in MFM are related to marketing or retailing. For other approaches I will talk about them in my subsequent posts. Here I would like to deal with this approach:
The approach uses some theory of marketing. Let me discuss that first. This is simple and easy to understand.
Marketing is the satisfaction of a customer's need profitably. That is it. Thus if a customer craves for social recognition, then clothing can satisfy that need. And if you can offer that solution to him where both you and him are satisfied, your job is done.
Having said that however, it is not so simple. There can be four cases:
1. The clothing that you offer is not attractive enough so the social need is not satisfied. In that case the customer would not buy it. The solution to this is called "Product Design"
2. The clothing is not right priced: either it is very high priced so that it deter customer to buy or it is very low priced- which customer find beneath their dignity to buy. This problem lies in the domain of "pricing".
3. The clothing is not available at all. Or if available, then the shop is too far and too unattractive a place to to. This problem lies in domain of "Placement"
4. The clothing is right, very genuinely priced and available but it is not known to people. In that cases advertisement and other support is needed so that people know about it. The problem lies in the domain of "Promotion".
Now any problem related to marketing and retailing can be fitted in the domain of solving one or more of these 4 Ps of marketing ( Product, Price, Place and Promotion). This will be a structure where you can initiate a discussion and give valuable suggestions or even can close the discussion.
Here are some of the examples where a case can be presented and where the problem can be structured as that of one of these 4Ps.
You are a local apparel retail and Reliance Mart has come in the neighborhood. What tactics would you adopt to counter this.
So your thought would be changing either the product offer, or pricing or becoming more closer to the customer or promoting yourself in a different way.
I hope you are able to understand what I am trying to explain to you. In fact, 70% of the GD topics in MFM revolves around marketing theme. Apply it in different situations and enjoy ?
And yes, you can always pose your doubts in comments or Cbox provided at the side.
Cheers !!!
There can be many approaches towards contributing to a GD for MFM. I like the marketing approach best, because most of the topics/ case studies asked in MFM are related to marketing or retailing. For other approaches I will talk about them in my subsequent posts. Here I would like to deal with this approach:
The approach uses some theory of marketing. Let me discuss that first. This is simple and easy to understand.
Marketing is the satisfaction of a customer's need profitably. That is it. Thus if a customer craves for social recognition, then clothing can satisfy that need. And if you can offer that solution to him where both you and him are satisfied, your job is done.
Having said that however, it is not so simple. There can be four cases:
1. The clothing that you offer is not attractive enough so the social need is not satisfied. In that case the customer would not buy it. The solution to this is called "Product Design"
2. The clothing is not right priced: either it is very high priced so that it deter customer to buy or it is very low priced- which customer find beneath their dignity to buy. This problem lies in the domain of "pricing".
3. The clothing is not available at all. Or if available, then the shop is too far and too unattractive a place to to. This problem lies in domain of "Placement"
4. The clothing is right, very genuinely priced and available but it is not known to people. In that cases advertisement and other support is needed so that people know about it. The problem lies in the domain of "Promotion".
Now any problem related to marketing and retailing can be fitted in the domain of solving one or more of these 4 Ps of marketing ( Product, Price, Place and Promotion). This will be a structure where you can initiate a discussion and give valuable suggestions or even can close the discussion.
Here are some of the examples where a case can be presented and where the problem can be structured as that of one of these 4Ps.
You are a local apparel retail and Reliance Mart has come in the neighborhood. What tactics would you adopt to counter this.
So your thought would be changing either the product offer, or pricing or becoming more closer to the customer or promoting yourself in a different way.
I hope you are able to understand what I am trying to explain to you. In fact, 70% of the GD topics in MFM revolves around marketing theme. Apply it in different situations and enjoy ?
And yes, you can always pose your doubts in comments or Cbox provided at the side.
Cheers !!!
Monday, April 26, 2010
Foreign Direct Investment in Multi Brand Retail
The government is thinking of granting 51% FDI in multi-brand retail.
Under the existing rules, upto 51% foreign investment is permitted in single brand product.
FDI upto 100% is allowed in wholesale cash-and-carry trade.
However, the permission will come with stiff riders such as the retail store should be located in cities with a min. population of one million. There are also rules for minimum capitalisation and minimum built up area. Also there are rules to encourage procurement from local manufacturers.
India has 15 million retail outlets. Only 4% of the outlets are bigger than 500 sq feet and the remaining 96 per cent are in unorganised sector.
Under the existing rules, upto 51% foreign investment is permitted in single brand product.
FDI upto 100% is allowed in wholesale cash-and-carry trade.
However, the permission will come with stiff riders such as the retail store should be located in cities with a min. population of one million. There are also rules for minimum capitalisation and minimum built up area. Also there are rules to encourage procurement from local manufacturers.
India has 15 million retail outlets. Only 4% of the outlets are bigger than 500 sq feet and the remaining 96 per cent are in unorganised sector.
Sunday, April 25, 2010
Weekender- Primus Retail
Weekender
1. Casual Brand Retailer.
2. Average Selling Price: 800 Rs.
3. Repositioned from "Wear Your Attitude" -centring young people to a Family store.
4. Parent Company: Primus Retail
5. CEO: Balaji Bhat.
6. History: The brand was taken over from Jagdish Hinduja's family owned Gokaldas Images in 2007 by Primus Retail.
7. Operates through Franchisee Model.
8.Average Store Size: 600-800 sq. ft store
9. Primus Retail has a licensee agreement with Disney Kids clothing.
10. It is also a franchisee for International apparel brands like Levis, Adidas, Nike, Tommy Hilfiger and Puma.
11. Total Number of outlets: 240 stores
12. Total retail space: 400,000 sqft.
13. Number of Indian cities having retail presence: 150
1. Casual Brand Retailer.2. Average Selling Price: 800 Rs.
3. Repositioned from "Wear Your Attitude" -centring young people to a Family store.
4. Parent Company: Primus Retail
5. CEO: Balaji Bhat.
6. History: The brand was taken over from Jagdish Hinduja's family owned Gokaldas Images in 2007 by Primus Retail.
7. Operates through Franchisee Model.
8.Average Store Size: 600-800 sq. ft store
9. Primus Retail has a licensee agreement with Disney Kids clothing.
10. It is also a franchisee for International apparel brands like Levis, Adidas, Nike, Tommy Hilfiger and Puma.
11. Total Number of outlets: 240 stores
12. Total retail space: 400,000 sqft.
13. Number of Indian cities having retail presence: 150
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