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Metal Component Market Research

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Manoj Singh
Manoj Singh

Tex Corp. Ltd. is exploring entering the metal component market in Delhi NCR region through market research. The research found the total monthly market potential for metal components to be over 11 crore rupees, with popular components including buckles, D-rings, buttons, and rivets. Buyers prioritize quality, price, delivery, and service when purchasing. The research also identified gaps where metal component manufacturers are lagging, such as in product range, quality standards, and lead time. The market was divided into two categories - one export-oriented and one for domestic consumption.

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Tex Corp. Ltd. has been in the field of Zippers manufacturing since quite a long time and has gained enough expertise with the consistent efforts over quality & quantity manufacturing. 2
MARKETING RESEARCH The function that links the consumer, customer, and public to the marketer through information. Marketing Research plays a very significant role in identifying the needs of customers and meeting them in best possible way. 3
Marketing Research is of use to the following:- Producers To know about product potential in the market vis--vis the total product; New Products; Various brands; Pricing; Market Structures and selection of product strategy, etc. Business and Government Marketing Research helps businesses and government in focusing attention on the complex nature of problems faced by them. For example: Determination of Gross National Product; Price, and per capita income; Expenditure levels and budgeting; Agricultural Pricing; The economic policies of Government; and Operational and planning problems of business and industry 4
The Marketing Research Process 1. Define the problem. Make sure that you really 'need' to know something. The problem then becomes the focus of the research. For example, why are sales falling? 2. How will you collect the data that you will analyse to solve your problem? Do we conduct a telephone survey, or do we arrange a focus group? 3. Select a sampling method. Do we us a random sample, stratified sample, or cluster sample? 5
6. How will we analyse any data collected? What software will we use? What degree of accuracy is required? 5. Decide upon a budget and a timeframe. 6. Go back and speak to the managers or clients requesting the research. Make sure that you agree on the problem. If you gain approval, then move on to step seven. 7. Go ahead and collect the data. 8. Conduct the analysis of the data. 6
9. Check for errors. It is not uncommon to find errors in sampling, data collection method, or analytic mistakes. 10. Write your final report. This will contain charts, tables, and diagrams that will communicate the results of the research, and hopefully lead to a solution to your problem. Watch out for errors in interpretation. 7
RESEARCH OBJECTIVES Tex Corp Ltd., with its existing set-up of die-casting and electroplating, is in a position to manufacture various types of metal components and therefore, is exploring to develop it, as an additional business line. An elaborated market research was therefore, undertaken to decide a suitable entry strategy. 8
Major Objective: To Propose Marketing Strategy for Tex Corp Ltd. to enter Metal Component Market. Minor Objectives: To study Metal Components Industry Overview. To study Metal Components Market Potential and Growth. To study Customers Expectation (Quality, Service, Price, Lead Time). To Propose Characteristics of Products (Quality, Price, Service). 9
Scope of study: The study gives a clear picture of the market scenario of Delhi NCR region, for metal components. 10
Research methodology The arrangement of condition for collection and analysis of data in a manner that aims to combine the relevance to the research purpose with economy in procedure. Sample Size: The data was collected through filling up the questionnaires, getting data from Manufacturers & Buyers and market survey. The sample size taken for the study is 41 for the Buyers and 8 for the Manufacturers. 11
Data Collection: Primary Data: The first hand information bearing on any research is the one which has been collected by the researcher. The data here is collected through: A structured questionnaire Personal interview of both Manufacturers and Consumers. Observation Secondary Data: The data which has already been collected, complied and presented earlier by any agency may be used for purpose of investigation. The data collected through: Various Government and non Government agencies and other sources available on internet. 12
Limitations Of The Study: Research is based on the collection of data from both primary and secondary sources. There may be a possibility of biasness on the part of some respondents, but very much care has been taken to make this report unbiased. Some respondents might not give the correct information due to their lack of interest and shortage of time. Time constraint. All the information, which is taken, is biased on primary and secondary data that has its own limitations. 13
DATAANALYSIS PRODUCT Saddlery & Harness 2.45% Finished Leather 18.39% Footwear 44.33% Leather Garments 12.60% Leather Goods 22.23% % Share Of Leather Products in Export Performance (2009-10) 14
Estimated production capacities: Based on the data from Council for Leather Exports, the total market capacity is: Items Capacity (Per Month) Leather Footwear 75750000 pairs Non-leather footwear 88000000 pairs Leather Garments 1333333 pieces Leather Goods 5250000 pieces 15
Estimation of the market size Based on the data collected through market research, the estimated market size is : Sample Size: 41 manufactures (appx. 10% of total market) S no. Metal Components Average Monthly Consumption 1 Buckle 20,11,533 Pieces 2 D Ring 14,38,866 Pieces 3 O Ring 3,44,666 Pieces 4 Dog Hook 3,34,600 Pieces 5 Button 1,62,03,266 Pieces 6 Rivet 1,76,61,333 Pieces 7 Eyelet 1,69,46,333 Pieces 8 Triangle 63,000 Pieces 9 Adjuster 4,90,000 Pieces 10 Square 3,00,000 Pieces 16
Total market potential can be estimated to be: S no. Metal Components Average Monthly Consumption Average price (Rs.) Total component value (Rs.) 1 Buckle 20,11,533 Pieces 15 3,01,72,995 2 D Ring 14,38,866 Pieces 8 1,15,10,928 3 O Ring 3,44,666 Pieces 8 27,57,328 4 Dog Hook 3,34,600 Pieces 12 40,15,200 5 Button 1,62,03,266 Pieces 2.5 4,05,08,165 6 Rivet 1,76,61,333 Pieces 0.25 44,15,333 7 Eyelet 1,69,46,333 Pieces 1 1,69,46,333 8 Triangle 63,000 Pieces 6 3,78,000 9 Adjuster 4,90,000 Pieces 7 34,30,000 10 Square 3,00,000 Pieces 7 21,00,000 Total Potential of metal components Market (Sample Size: 41 manufactures (appx. 10% of total market) 11,62,34,282 17
Type of Metal Components Used: D-Ring O-Ring Buckle Dog Hook Snap Hook Rivets Eyelets Buttons Adjusters Square Triangle Badges Pendant 18
Logo Connecter Reducer CD- Ring TD-Ring Belt Buckle Pin Double C-Link Double D-Link Belt Adjuster Suspender Buckle. 19
Finishes Nickel Brass Satin Nickel Antique Brass Black Nickel Mirror Nickel Nickel Free Nickel Antique silver Copper Antique Copper 20
Buffed Nickel Epoxy Painted Real Gold Black Copper Crome Tin Natural White Bronze 21
Maximum Preferred Finishes Based on the primary data, the most preferred finishes for the overall apparel & accessories industry are: Scale of 0-40 31 21 15 9 20 1 4 Antique Brass Gun Metal Golden Antique Silver Silver Antique Copper Copper Maximum Preferred Finish Maximum Preferred Finish 22
With the shift towards Leather/Non leather shoe industry, the trend and use of preferred finishes, changes. The most preferred finish in shoe industry are: Scale of 0-8 3 3 5 6 1 1 Gun Metal Antique Brass Golden Silver Copper Antique Silver Preferred Finishes (Shoe Industry) Preferred Finish (Shoe Industry) 23
Sizes Metal Components Size 1 Buckle 8mm,10 mm,12 mm,15 mm, 20 mm,25 mm, 30 mm,38 mm 2 D-Ring 20 mm, 25 mm,30 mm,38 mm,40 mm,50 mm 3 O-Ring 20 mm, 25 mm,30 mm,38 mm,40 mm,50 mm 4 Dog Hooks 10-50 mm 5 Triangle 20 mm, 25 mm,30 mm,38 mm,40 mm,50 mm 6 Adjusters 18 mm, 25 mm,32 mm,38 mm 7 Eyelets 8 mm, 12 mm,15 mm, 40 mm 8 Rivets 3 mm- 9 mm 9 Buttons Customized 24
Buckle: Scale: 0-32 7 14 1 1 25 1 27 3 2 5 20mm 25mm 26mm 28mm 30mm 32mm 38mm 40mm 42mm 50mm Most Preffered Sizes-BUCKLE (apperel& bag Industry) Most Preffered Sizes-BUCKLE (apperel& bag Industry) 25
The Scenario changes as focused towards shoe industry: Scale: 0-8 1 7 6 1 3 5 1 8mm 10mm 12mm 14mm 15mm 18mm 20mm Most Preffered Sizes-BUCKLE (Shoe Industry) Most Preffered Sizes-BUCKLE (Shoe Industry) 26
Price Comparison 9.4 9.6 9.8 10 10.2 10.4 10.6 10.8 11 11.2 Tex Ansun Rs. D Ring 45mm Antique Brass D ring 45mm Price in INR D ring 45mm Price in INR 27
0 5 10 15 Tex Ansun Metal Ware Rs. D Ring 38mm Antique Brass Price of D ring 38mm Price of D ring 38mm 0 2 4 6 Tex 26mm Ansun 25mm Vishal 25mm Rs. D Ring Antique Brass D Ring Price comparision Buckle Price comparision 28
PROMOTION Factors Effecting Buyers Decision: The Buyers were asked to scale their priority on a scale of 1- 8 while purchasing metal components. The priorities were: Quality Price Delivery Service Customization Availability RSL/Heavy Metals Quality Standard 29
Based on the research, the factors effecting buyers decision were: Scale: 40-320 295 205 212 75 132 193 138 120 Basis of Influence in Buying Decision(Overall) Basis of Influence in Buying Decision(Overall) 30
When we take the buyers who purchase only from local market, the factors effecting the buying decision were: Scale: 20-360 142 143 101 42 89 100 57 45 Basis of Influence in Buying Decision (Sadar Bazar & Local Market) Basis of Influence in Buying Decision (Sadar Bazar) 31
Gaps Parameters Where Metal Component Manufacturers are Lagging Scale: 0-40 32 16 25 17 30 11 Product Range Product quality Lead Time Customization Price Quality Standard Parameters where the Manufacturers are Lagging Behind ( According to Buyers) Parameters where the Manufacturers are Lagging Behind ( According to Buyers) 32
FINDINGS Metal component market can broadly be divided into 2 categories- Market A Market B Consumption Purely Export Oriented Export & Domestic consumption Supplier China, Taiwan , Hong Kong Aligarh, Sadar Bazaar, Govindpuri Finish Super Fine Mirror Finish Fine Finish RSL Compliance RSL Compliance followed strictly RSL Compliance followed up to some extent Lead Time 28-35 Days 15-28 Days 33
RECOMMENDATION PRODUCT RECOMMENDATIONS: Buckle in size 30 mm should be developed. The Thickness of wire should be developed to match the competitors. 12 mm & 18 mm pin buckle should be developed to tackle shoe manufacturing industry. To be a long run player in metal component market & to hold the maximum market share, Tex has to increase the product range and product line such as Dog Hook, Adjuster, Badges, Squares and that too in different sizes & finishes. (The preferred sizes for Dog Hook & Adjusters are given in chapter 5). 34
To be among the preferences of the buyers, Tex has to develop products according to their demand. To enter into market A, Tex has to improve its quality standards, follow RSL norms very strictly and should have expertise in super fine crystal mirror finish. RSL compliance is a must in upcoming scenario. Product should not fail in corrosion resistance test. 35
PRICING RECOMMENDATIONS: The price of TEX compared to competitors of Market B (Siroski Noida, Goyal Groups Agra, DMJP Sadar, Vishal Fittings Sadar, SPM Govindpuri, Ansun & Metalware) is comparatively low. The price of TEX should be near to its competitor Ansun . 36
RECOMMENDATIONS REGARDING COMPETITORS: As the global scenario of export is increasing, Tex has got a lead in producing Nickel free & Lead free metal component through its die cast facility. Tex can have an edge over competitors (Metalware, Siroski, Metal Craft, and Ansun) with lesser lead time. To be among the preferences of the buyers, Tex has to develop products according to their demand. With the prevailing capacity, TEX is in a good position to enter Market B Segment. In most of the cases, TEX fulfills the quality & finish requirements and demands of Market B Segment. 37
As Most of the buyers are located in NCR Region, thus, the buyers will prefer a local supplier for their metallic component inventory to cut down the delivery time giving TEX an upper hand. As TEX is already a nominated zipper supplier for many international brands, it has a distinct advantage to get quick nominations. 38
OTHER RECOMMENDATIONS: Tex should focus on Footwear manufacturing Industry as the growth rate is more in comparison to Leather garment & Leather goods manufacturing. (Refer- Figure 5a and 5b). Sales Executive should be sent to buyers with complete samples catalogues and soft copies for product promotional purpose. To enter into market A, Tex has to improve its quality standards, follow RSL norms very strictly and should have expertise in super fine crystal mirror finish. Start of bulk deliveries in 7-8 working days is OK with customers. 39
Following is the list of companies where Tex Corp. can approach at this initial stage for entering Metal component market:- Excelsior Crafts, Faridabad Adigear International, Mayapuri Industrial Area, New Delhi Roshan Minar International, New Delhi Accessory Archade, Janakpuri, New Delhi Bharat Enterprises, Gurgaon. Simran Impex, Okhla, New Delhi. Fashion House, Okhla, New Delhi. Atlantic Leather Line, Okhla, New Delhi. Drishti Apparels, IMT Manesar. Gulati Export House, Gurgaon. Anaemica Art Center, Daryaganj, New Delhi. Orion Conmerx Pvt. Ltd., Gurgaon. Brumario Leather Co. Pvt. Ltd., Gurgaon. Jai Footwear Pvt. Ltd, Anand Parbat, New Delhi. Relaxo Footwear Ltd, Indralok, New Delhi. 40
CONCLUSION On the basis of the overall study done, Tex Corp. Ltd. has got an opportunity to enter into the new business line of Metal Components Tex, and should capitalize its current status of being an MNC. 41
Thank You 42

More Related Content

Metal Component Market Research

  • 1. 1
  • 2. Tex Corp. Ltd. has been in the field of Zippers manufacturing since quite a long time and has gained enough expertise with the consistent efforts over quality & quantity manufacturing. 2
  • 3. MARKETING RESEARCH The function that links the consumer, customer, and public to the marketer through information. Marketing Research plays a very significant role in identifying the needs of customers and meeting them in best possible way. 3
  • 4. Marketing Research is of use to the following:- Producers To know about product potential in the market vis--vis the total product; New Products; Various brands; Pricing; Market Structures and selection of product strategy, etc. Business and Government Marketing Research helps businesses and government in focusing attention on the complex nature of problems faced by them. For example: Determination of Gross National Product; Price, and per capita income; Expenditure levels and budgeting; Agricultural Pricing; The economic policies of Government; and Operational and planning problems of business and industry 4
  • 5. The Marketing Research Process 1. Define the problem. Make sure that you really 'need' to know something. The problem then becomes the focus of the research. For example, why are sales falling? 2. How will you collect the data that you will analyse to solve your problem? Do we conduct a telephone survey, or do we arrange a focus group? 3. Select a sampling method. Do we us a random sample, stratified sample, or cluster sample? 5
  • 6. 6. How will we analyse any data collected? What software will we use? What degree of accuracy is required? 5. Decide upon a budget and a timeframe. 6. Go back and speak to the managers or clients requesting the research. Make sure that you agree on the problem. If you gain approval, then move on to step seven. 7. Go ahead and collect the data. 8. Conduct the analysis of the data. 6
  • 7. 9. Check for errors. It is not uncommon to find errors in sampling, data collection method, or analytic mistakes. 10. Write your final report. This will contain charts, tables, and diagrams that will communicate the results of the research, and hopefully lead to a solution to your problem. Watch out for errors in interpretation. 7
  • 8. RESEARCH OBJECTIVES Tex Corp Ltd., with its existing set-up of die-casting and electroplating, is in a position to manufacture various types of metal components and therefore, is exploring to develop it, as an additional business line. An elaborated market research was therefore, undertaken to decide a suitable entry strategy. 8
  • 9. Major Objective: To Propose Marketing Strategy for Tex Corp Ltd. to enter Metal Component Market. Minor Objectives: To study Metal Components Industry Overview. To study Metal Components Market Potential and Growth. To study Customers Expectation (Quality, Service, Price, Lead Time). To Propose Characteristics of Products (Quality, Price, Service). 9
  • 10. Scope of study: The study gives a clear picture of the market scenario of Delhi NCR region, for metal components. 10
  • 11. Research methodology The arrangement of condition for collection and analysis of data in a manner that aims to combine the relevance to the research purpose with economy in procedure. Sample Size: The data was collected through filling up the questionnaires, getting data from Manufacturers & Buyers and market survey. The sample size taken for the study is 41 for the Buyers and 8 for the Manufacturers. 11
  • 12. Data Collection: Primary Data: The first hand information bearing on any research is the one which has been collected by the researcher. The data here is collected through: A structured questionnaire Personal interview of both Manufacturers and Consumers. Observation Secondary Data: The data which has already been collected, complied and presented earlier by any agency may be used for purpose of investigation. The data collected through: Various Government and non Government agencies and other sources available on internet. 12
  • 13. Limitations Of The Study: Research is based on the collection of data from both primary and secondary sources. There may be a possibility of biasness on the part of some respondents, but very much care has been taken to make this report unbiased. Some respondents might not give the correct information due to their lack of interest and shortage of time. Time constraint. All the information, which is taken, is biased on primary and secondary data that has its own limitations. 13
  • 14. DATAANALYSIS PRODUCT Saddlery & Harness 2.45% Finished Leather 18.39% Footwear 44.33% Leather Garments 12.60% Leather Goods 22.23% % Share Of Leather Products in Export Performance (2009-10) 14
  • 15. Estimated production capacities: Based on the data from Council for Leather Exports, the total market capacity is: Items Capacity (Per Month) Leather Footwear 75750000 pairs Non-leather footwear 88000000 pairs Leather Garments 1333333 pieces Leather Goods 5250000 pieces 15
  • 16. Estimation of the market size Based on the data collected through market research, the estimated market size is : Sample Size: 41 manufactures (appx. 10% of total market) S no. Metal Components Average Monthly Consumption 1 Buckle 20,11,533 Pieces 2 D Ring 14,38,866 Pieces 3 O Ring 3,44,666 Pieces 4 Dog Hook 3,34,600 Pieces 5 Button 1,62,03,266 Pieces 6 Rivet 1,76,61,333 Pieces 7 Eyelet 1,69,46,333 Pieces 8 Triangle 63,000 Pieces 9 Adjuster 4,90,000 Pieces 10 Square 3,00,000 Pieces 16
  • 17. Total market potential can be estimated to be: S no. Metal Components Average Monthly Consumption Average price (Rs.) Total component value (Rs.) 1 Buckle 20,11,533 Pieces 15 3,01,72,995 2 D Ring 14,38,866 Pieces 8 1,15,10,928 3 O Ring 3,44,666 Pieces 8 27,57,328 4 Dog Hook 3,34,600 Pieces 12 40,15,200 5 Button 1,62,03,266 Pieces 2.5 4,05,08,165 6 Rivet 1,76,61,333 Pieces 0.25 44,15,333 7 Eyelet 1,69,46,333 Pieces 1 1,69,46,333 8 Triangle 63,000 Pieces 6 3,78,000 9 Adjuster 4,90,000 Pieces 7 34,30,000 10 Square 3,00,000 Pieces 7 21,00,000 Total Potential of metal components Market (Sample Size: 41 manufactures (appx. 10% of total market) 11,62,34,282 17
  • 18. Type of Metal Components Used: D-Ring O-Ring Buckle Dog Hook Snap Hook Rivets Eyelets Buttons Adjusters Square Triangle Badges Pendant 18
  • 19. Logo Connecter Reducer CD- Ring TD-Ring Belt Buckle Pin Double C-Link Double D-Link Belt Adjuster Suspender Buckle. 19
  • 20. Finishes Nickel Brass Satin Nickel Antique Brass Black Nickel Mirror Nickel Nickel Free Nickel Antique silver Copper Antique Copper 20
  • 21. Buffed Nickel Epoxy Painted Real Gold Black Copper Crome Tin Natural White Bronze 21
  • 22. Maximum Preferred Finishes Based on the primary data, the most preferred finishes for the overall apparel & accessories industry are: Scale of 0-40 31 21 15 9 20 1 4 Antique Brass Gun Metal Golden Antique Silver Silver Antique Copper Copper Maximum Preferred Finish Maximum Preferred Finish 22
  • 23. With the shift towards Leather/Non leather shoe industry, the trend and use of preferred finishes, changes. The most preferred finish in shoe industry are: Scale of 0-8 3 3 5 6 1 1 Gun Metal Antique Brass Golden Silver Copper Antique Silver Preferred Finishes (Shoe Industry) Preferred Finish (Shoe Industry) 23
  • 24. Sizes Metal Components Size 1 Buckle 8mm,10 mm,12 mm,15 mm, 20 mm,25 mm, 30 mm,38 mm 2 D-Ring 20 mm, 25 mm,30 mm,38 mm,40 mm,50 mm 3 O-Ring 20 mm, 25 mm,30 mm,38 mm,40 mm,50 mm 4 Dog Hooks 10-50 mm 5 Triangle 20 mm, 25 mm,30 mm,38 mm,40 mm,50 mm 6 Adjusters 18 mm, 25 mm,32 mm,38 mm 7 Eyelets 8 mm, 12 mm,15 mm, 40 mm 8 Rivets 3 mm- 9 mm 9 Buttons Customized 24
  • 25. Buckle: Scale: 0-32 7 14 1 1 25 1 27 3 2 5 20mm 25mm 26mm 28mm 30mm 32mm 38mm 40mm 42mm 50mm Most Preffered Sizes-BUCKLE (apperel& bag Industry) Most Preffered Sizes-BUCKLE (apperel& bag Industry) 25
  • 26. The Scenario changes as focused towards shoe industry: Scale: 0-8 1 7 6 1 3 5 1 8mm 10mm 12mm 14mm 15mm 18mm 20mm Most Preffered Sizes-BUCKLE (Shoe Industry) Most Preffered Sizes-BUCKLE (Shoe Industry) 26
  • 27. Price Comparison 9.4 9.6 9.8 10 10.2 10.4 10.6 10.8 11 11.2 Tex Ansun Rs. D Ring 45mm Antique Brass D ring 45mm Price in INR D ring 45mm Price in INR 27
  • 28. 0 5 10 15 Tex Ansun Metal Ware Rs. D Ring 38mm Antique Brass Price of D ring 38mm Price of D ring 38mm 0 2 4 6 Tex 26mm Ansun 25mm Vishal 25mm Rs. D Ring Antique Brass D Ring Price comparision Buckle Price comparision 28
  • 29. PROMOTION Factors Effecting Buyers Decision: The Buyers were asked to scale their priority on a scale of 1- 8 while purchasing metal components. The priorities were: Quality Price Delivery Service Customization Availability RSL/Heavy Metals Quality Standard 29
  • 30. Based on the research, the factors effecting buyers decision were: Scale: 40-320 295 205 212 75 132 193 138 120 Basis of Influence in Buying Decision(Overall) Basis of Influence in Buying Decision(Overall) 30
  • 31. When we take the buyers who purchase only from local market, the factors effecting the buying decision were: Scale: 20-360 142 143 101 42 89 100 57 45 Basis of Influence in Buying Decision (Sadar Bazar & Local Market) Basis of Influence in Buying Decision (Sadar Bazar) 31
  • 32. Gaps Parameters Where Metal Component Manufacturers are Lagging Scale: 0-40 32 16 25 17 30 11 Product Range Product quality Lead Time Customization Price Quality Standard Parameters where the Manufacturers are Lagging Behind ( According to Buyers) Parameters where the Manufacturers are Lagging Behind ( According to Buyers) 32
  • 33. FINDINGS Metal component market can broadly be divided into 2 categories- Market A Market B Consumption Purely Export Oriented Export & Domestic consumption Supplier China, Taiwan , Hong Kong Aligarh, Sadar Bazaar, Govindpuri Finish Super Fine Mirror Finish Fine Finish RSL Compliance RSL Compliance followed strictly RSL Compliance followed up to some extent Lead Time 28-35 Days 15-28 Days 33
  • 34. RECOMMENDATION PRODUCT RECOMMENDATIONS: Buckle in size 30 mm should be developed. The Thickness of wire should be developed to match the competitors. 12 mm & 18 mm pin buckle should be developed to tackle shoe manufacturing industry. To be a long run player in metal component market & to hold the maximum market share, Tex has to increase the product range and product line such as Dog Hook, Adjuster, Badges, Squares and that too in different sizes & finishes. (The preferred sizes for Dog Hook & Adjusters are given in chapter 5). 34
  • 35. To be among the preferences of the buyers, Tex has to develop products according to their demand. To enter into market A, Tex has to improve its quality standards, follow RSL norms very strictly and should have expertise in super fine crystal mirror finish. RSL compliance is a must in upcoming scenario. Product should not fail in corrosion resistance test. 35
  • 36. PRICING RECOMMENDATIONS: The price of TEX compared to competitors of Market B (Siroski Noida, Goyal Groups Agra, DMJP Sadar, Vishal Fittings Sadar, SPM Govindpuri, Ansun & Metalware) is comparatively low. The price of TEX should be near to its competitor Ansun . 36
  • 37. RECOMMENDATIONS REGARDING COMPETITORS: As the global scenario of export is increasing, Tex has got a lead in producing Nickel free & Lead free metal component through its die cast facility. Tex can have an edge over competitors (Metalware, Siroski, Metal Craft, and Ansun) with lesser lead time. To be among the preferences of the buyers, Tex has to develop products according to their demand. With the prevailing capacity, TEX is in a good position to enter Market B Segment. In most of the cases, TEX fulfills the quality & finish requirements and demands of Market B Segment. 37
  • 38. As Most of the buyers are located in NCR Region, thus, the buyers will prefer a local supplier for their metallic component inventory to cut down the delivery time giving TEX an upper hand. As TEX is already a nominated zipper supplier for many international brands, it has a distinct advantage to get quick nominations. 38
  • 39. OTHER RECOMMENDATIONS: Tex should focus on Footwear manufacturing Industry as the growth rate is more in comparison to Leather garment & Leather goods manufacturing. (Refer- Figure 5a and 5b). Sales Executive should be sent to buyers with complete samples catalogues and soft copies for product promotional purpose. To enter into market A, Tex has to improve its quality standards, follow RSL norms very strictly and should have expertise in super fine crystal mirror finish. Start of bulk deliveries in 7-8 working days is OK with customers. 39
  • 40. Following is the list of companies where Tex Corp. can approach at this initial stage for entering Metal component market:- Excelsior Crafts, Faridabad Adigear International, Mayapuri Industrial Area, New Delhi Roshan Minar International, New Delhi Accessory Archade, Janakpuri, New Delhi Bharat Enterprises, Gurgaon. Simran Impex, Okhla, New Delhi. Fashion House, Okhla, New Delhi. Atlantic Leather Line, Okhla, New Delhi. Drishti Apparels, IMT Manesar. Gulati Export House, Gurgaon. Anaemica Art Center, Daryaganj, New Delhi. Orion Conmerx Pvt. Ltd., Gurgaon. Brumario Leather Co. Pvt. Ltd., Gurgaon. Jai Footwear Pvt. Ltd, Anand Parbat, New Delhi. Relaxo Footwear Ltd, Indralok, New Delhi. 40
  • 41. CONCLUSION On the basis of the overall study done, Tex Corp. Ltd. has got an opportunity to enter into the new business line of Metal Components Tex, and should capitalize its current status of being an MNC. 41