During the past century most Companies were small and knew their customer first hand .Managers picked up marketing information by being around people, observing them and asking questions. During this century, however, many factors have increase of the need for more and better information .As companies become nation or international in scope, they need more information or larger, more distant markets. As sellers use more complex marketing approaches and face and more competition ,they need information of the effectiveness of their marketing tools .Managers need more up-to-date information to make timely decision.
In crying out marketing analysis, strategies, planning, implementation and control marketing managers need information at almost every turn They need information about customers, compactors and other forces in the market place. One marketing executive put it this way “To manage a business well is to manage future and to manage the future is to manage information” .Increasingly marketers are viewing information net just as input for making better decision. But also as an important strategic asset and marketing tools.
In this project work the topic was to “marketing strategy for Partex Furniture Industries Ltd in Bangladesh. During the project, a conclusive method of the marketing research was followed to find out the problem and its solution. While working n the project, it was realized that the research work is very important to establish any marketing strategic before making decision.
Since the real life business is always very complex and competitive, every business has to face the interns competition and those who can successfully operate within this critical situation can become and brand awareness is very important.
Objectives of the study;
The objective of the internship program is to be familiarized me with the real market situation and compares it with bookish concept. The main objectives of this report are to have an assessment about the situation in addition the study seeks to achieve the following objectives:
- To find out the overall pictures of the company.
- To indentify strength and weakness of the company.
- To recommend action that may be necessary to redesign operational and marketing strategy of the company.
The objective of the study is to find out the perception and brand awareness of the consumer towards. The research is focused on the perspective of the consumer and their views towards, what are their need and wants.
To complete the study I have fazed some problems, which can be termed as the limitation of the study .
- Not having an accurate customer database in divitkm that caused waste of time,
- No response is obtained from a certain part of our samples.
- It is quite difficult to complete for such research program for one person in a certain time limit,
- The researches had to depend on personal interview for collecting data.
- There was tie limitation for this research project. That made difficult to get all information.
Purpose of the report
My corporate purpose is state that to succeed the problem and pattern statement of partex furniture .But the whole information about partex furniture as like what is working system and etc .are not clearly given on its website.
Origin of the report:
This report is development as a course of the BBA program .When I have presented my report to my supervisor, he will authorize my report. This project report is written by me under the supervisor Md. Sawkat Ali.
Sources and Method of collect:
I have collected the information from the Secondary data, such as; Companies journal, brochure, articles, websites and Monipuripara Gallery.
Partex furniture is world class furniture providing company has a big functioning network of its business in our country and other country .It has several Gallery and Branches. I have tried to cover about marketing strategy of partex furniture.
The study is explorative in the context of Bangladesh for the aspects focused mainly on Furniture market .However; it can also be termed as descriptive and analytical.
Partex Furniture is leading manufacturing furniture, brought revolutionary changes in the furniture market in our country since its start 2000 and owned by Mr .Aziz Al Kaiser. First it had started in a small scale, but today partex furniture is fully equipped with latest technologies.
In 1928, the signature of the Red Line Agreement and the confirmation of the shareholding participations of the Turkish Petroleum Company (TPC) marked the consolidation of Calouste Gulbenkian’s firm involvement in the oil industry in the region. TPC then changed its name to Iraq Petroleum Company.
A decade later, in June 1938, Calouste Gulbenkian decided to incorporate his assets in the oil business in a Company that he created in Panama: Participations and Explorations Corporation. The name of the Group – PARTEX – originates from the name of this Company.
Since Calouste Gulbenkian’s death, in 1955, the Middle East oil industry and, as a result, the Group’s holdings have changed significantly. These changes particularly affected the concessions held by the Iraq Petroleum Company which were nationalized in 1973.
As a result of the strategic decisions and business requirements of Partex, new companies have been created over the years. In March 1998, almost 60 years after the first company was created, a holding company was incorporated in Cayman Island – Partex Oil and Gas (Holdings) Corporation – owned 100% by the Calouste Gulbenkian Foundation. It became the holder of the Gulbenkian participations in the oil and gas business and, directly or indirectly, the only shareholder of all the Group Companies.
Organization And Structure
The Partex Oil and Gas Group is organized basically by geographical areas and holds interests in concessions and joint ventures engaged in upstream activities related to the oil and gas industry, namely, exploration, development, production and sales.
The Group is structured in sub-holding companies, management units, concession companies and service companies that provide to the joint ventures and operating companies in which the Group participates all the necessary advice and financial, technical, management and human resources support that they require, in accordance with the strategy and guidelines defined by the Holding.
Partex Group is among the large Bangladesh private sector manufacturing and service based enterprises, owning and operating over twenty units giving value for money to all customers. The group started modestly in 1959 in tobacco trading and with prudent entrepreneurship of our Founder Chairman Mr. M.A, Hashem today we have a stake in tobacco, food, water, soft drinks, steel container, edible oil, wooden board, furniture, cotton yarn and the IT sector. After Bangladesh was established our Chairman set up M/S Hashem Corporation (Pvt) Ltd, in Chittagong city meeting the large demand of food and materials needed for sustaining the needs of a new nation through imports. From importing to import substitution was the next logical step and the stepping stone into the manufacturing sector, which has matured to the multi million dollar diverse investment of the Partex Group today. A dedicated work force and committed board members led by our Chairman and backed by a market oriented corporate strategy has been the cornerstone of our success. Today the group has over tweenty family owned private limited companies with a sizable turnover. Ours is a dynamic organization always exploring new ideas and avenues to expand and grow further,
Mr. M. A, Hashem
Mr. Aziz Al-Kaiser
Mrs. Sultana Hashem
Mr. Aziz Al-Mahmood
Sena Kalyan Bhaban (16 th. Floor),
195 Motijheel C/A, Dhaka – 1000, Bangladesh,
How to started:
ACombination of special imported laminated board, stainless steel accessories and high standard plywood offers the best quality and cost effective substitute for natural timber for custom made innovative, modern and use of timber substitutes as well as products of solid timber. Within a short span of time lamination board furniture has been able to clams a sizable portion of the market .This is a commitment of partex Group to use eco-friendly materials ,as much as possible .Currently ,we are providing an ever increasing range of product to meet greater than ever demand of furniture for household ,offices and educational institutions.
We are the leading furniture solution provider in Bangladesh achieving our business vision through growth in market reach, increasing operation size, international distribution, total service and consistent branding activities by the being most customer focused and innovative ,cost effective &efficient, environmentally reasonable &quality concerned company in the business.
To be the most consumer focused, competitive, efficient, innovative, and environmentally responsible and quality concerned leading market oriented furniture manufacturing ,sales and distributor of Bangladesh.
Customer Fqcused & Innovative
We believe our success depends on our customers. Thus, our primary value is fulfillment of our customer’s needs .our manner of achieving this success is to include value for money, different price ranged functional products, complete solutions, free technical consultancy services, after sales support, efficient delivery, and above all quality product that exceeds expectation .we believe in providing our customers new and innovative product with international standards to match wit the changing lifestyle of today.
Competitive & Efficient
We believe our competitive nature thoroughly ensured as when we provide highest quaiity product in the most perceived prices. We are committed to our Value In relationship with our stakeholders where our core product is associated with efficient and reliable services.
Environmental Stewardship & Excellence In Quality
We believe in maintaining, operating our business in such a manner so that it is sustainable for the future. We went to combine comic use of wood and create wood substitute product for our furnishing needs and constantly devote our production, research& development to remain environmentally responsible. We are committed to find new methods and technologies to improve our services .we believe excellence is our only standard for ail our approaches.
The Marketing Planning process
Partex has vertically integrated in to the furniture industry. Partex had the upper hand in producing the particle board which is the raw material to produce furniture and they used to supply this particle board to other furniture making companies to produce furniture .But the corporate manager decided that they could vertically integrated in to the furniture industry since they would be producing their own raw material .they also came up with an innovative idea of making use of the unused part of the log which they use for making particle board. Partex also has a widespread distribution network which it can use for the furniture as well.
It may be added that partex has vertically integrated in other businesses as well apart from the furniture industry .Fr example, under complex -partex had Danish condensed Milk (BD) Ltd. Danish Food product, Danish milk mills Ltd .Then partex vertically integrated and came up with Danish Distribution Network Ltd.
Because of vertical integration, partex enjoys some competitive advantage compared to its competitors.
Partex has invested in the furniture industry and this huge investment acts as an entry barrier to its potential new entrant.
Partex will also be able to realize Economics of scope since they are fully integrated in the furniture industry i.e. from producing raw materials to distribution them.
They have two in the furniture industry: one is timber based furniture and the other is panel based furniture
This is considered as Question Marks since the relative market share is low, but there is tremendous potential for growth in this industry .this SBU need a lot of cash injection which partex has already done and plans to do the same in furniture.
This is considered to be a cash cow. They have a high market share and they are generating positive cash flow forpartex.
Drawback of the Current Strategy
Partex is finding it very difficult to integrate all their businesses in the industry Jn addition; partex has a very complex structure. Thus their bureaucratic cost is very high.
Partex should change its current organization structure and make it simpler so that their bureaucratic cost can be lowered which will give them a competitive advantage.
Corporate level strategy
Partex has vertically integrated both into the panel based and timber -based furniture industry because of strength in raw material supply.
Because of vertical integration, Partex enjoys competitive advantage compared to its competitors.
Partex has invested tk. core in the furniture industry and this huge investment acts as an entry barrier to its potential new entrant.
integrated in the furniture industry i.e. from producing raw materials to distributing them.
Thus the two
in the furniture industry: One is timber based furniture and the other is panel based furniture
Interestingly enough the generic strategy for partex is ‘cost Leadership and Differentiation ‘rather it is differentiation (not pure differentiation) backed up by absolute cost advantage .the result is premium price charged for products similar to the competitors and obtaining lower cost than pure differentiation and higher levels of profits than firms pursuing only one of the generic strategies.
Partex strategy manager’s plan of action for using the companies resources and distinctive competencies to gain a competitive advantage over its rivals in the local market is based mostly on its cost advantage over the competitors. At the heart of the generic business level strategy for the company lie the choices concerning product differentiation, market segmentation, and distinctive competency. These issues of Business level strategy information according to partex are discussed below:
The differentiation of furniture according
The study on partex product offerings con not that the company follows two different strategies for both pane! based furniture and Timber based furniture. These current are as below:
Current product Differentiation Issues:
Type of furniture Issues for product differentiation Panel -based This type of furniture is target to satisfy special category of needs office furnishing, kitchen and home appliance, lower middle class home furnishing by offering low -priced products.
However, selected customization of these products is also offered allowing minor differentiation for upper middle to higher economic classes in the local market Timber This type of furniture offers uniqueness through the product appeal to the consumers physiological needs such as brand image and perception of partex furniture being high end product.
Recommended Differentiation Issue:
The capacity and the market forces suggest that the current strategy is sufficient for partex to continue in the industry.
The Segmentation of the furniture market:
Partex management grouped their consumer in terms if the income based classification and performances. The segmentation is unusually large and looks Apparently unrealistic to allow partex to gain competitive advantages. However, due to the nature of the business of two types of furniture, the target group is bound to be relatively larger. The current segmentation strategy is followed for both panel and timber based furniture market.
Current Segmentation Issue;
The current segmentation strategy of partex for both of its product line panel based and timber based is a broad rang -lower middle class to the upper up per class of the economic division of the Bangladesh market,
Recommended Segmentation strategy:
Type of furniture
Issues of segmentation
|Panel -based||Lower middle to upper upper furniture class as panel based consumer can be targeted for:|
• Office furnishing.
• Kitchen furnishing with customization.
• Home furnishing for lower middle classTimberTimber based furniture with new conception of brand furniture is suitable for the upper middle to the upper end market with focus on appeal.
Distinctive competency for the business -level strategy:
As previously discount partex current distinctive competency is focused on:
Current distinctive Issue:
Focused on continual product quality partex strive to reach for better customer responsiveness through a clear focus of the market trends and product innovation by newer designs. The organization of distinctive competencies includes superior efficiency in production for the panel based furniture but does not entail for the timber based furniture This is however not a weakness, rather a characteristics for the timber furniture industry,
Recommended Distinctive Issues:
Since costs -Eldership is followed is panel -based furniture the corresponding distinctive .similarly ,for timber -based furniture following a differentiation strategy should ideally have R&D sales and marketing as its distinctive competency partex fulfills both these criteria .
The choice of the Generic Business level strategy :
Paartex enjoys a distinctive production development within the system as the raw materials for its panel and timber based furniture both come from the single source .As a result the company manager to reap gains from cost advantage as well as brand image and appeal, leading to differentiation strategy.
Current Business —Level Strategy :
Interestingly enough the generic strategy for partex is not cost Leadership and Differentiation rather it is differentiation backed up by absolute cost advantage. The result is premium price charged for product similar to the competitor and obtained lower cost than pure differentiations and higher levels of profits than firms pursuing only one the generic strategies.
Recommended Business -Level Strategy:
Outwardly, the Generic Strategic for partex may seem to be a stuck in the middle as no pure strategy is followed and as a result wrong resource allocation decision may occur leading to a loss of control in the genetic strategy .however the cost advantage achieved by vertical integration and the image of partex brand helps the company to be an a position where it can change presume price for the product. Which has differentiation ability? This recommendation strategy should be;
|Types of Furniture||Generic strategies|
|Panel -based||Cost Leadership and Differentiation as competitors (otobi) follows Differentiation strategy as well.|
|Timber||Differentiation strategy with absolve cost advantages gained from production development and vertical integration.|
Current Investment Strategy’ :
Partex is investment resources to develop new sales and marketing strategy. The new show room and the plan to employ architects in the sales forces is an example to this strategy implementation .Also the investment of Tk.lOOcrore is a strategy to build resources that the company is following now.
Recommended Investment strategy :
Aside from following the current strategy partex should also engages in R&D to maintain their lead as a differentiator and introduce newer designs to capture more market share . The Recommended Business –
Partex should follow two different Businesses -Level strategy for panel timber furniture market. More narrow segmentation should be focused with differentiation strategy for timber ftirniture and cost Leadership in panel furniture backed up by the cost advantage achieved from vertical integration in both the field. Finally, investment should be made to capture more market share by innovation and furniture growth .this will increase the profit margin in even higher extent.
Company Profile Partex Furniture Ltd.
Partex Furniture is one of the 18 sister concerns of the Partex Group. The plant for Partex Furniture Ltd. Is located at Jangaliapara, Joydevpur, Gazipur. The site enjoys excellentin frastructure like good road communication ,gas, power, water, telecommunication and manpower.
It is committed to produce the best quality import substitute preform and closures with the best machineries. All around the world there has been a noticeable growth and success of the Plastic packaging industry. Being inspired by this excellent growth, financial performance and future prospects of the Plastic market, sponsors are confident that it would be beneficial and worthy to invest into the plastics industry. With this end in view the company has decided to set-up a whole new line of business under the same management. The excellence of the technology, the genius of company’s personnel, clear vision and commitment of management “Simply the best” in the PET Plastic arena is the main stay of this bold initiative.
The promoters of the company are members of Partex Group who owns and successfully operates more than 25 manufacturing and trading concerns and offers the best (value of money) to customers of Bangladesh. Al! the directors of Fartex Group have contributed a lot as promoter-directors in the growth of all Group. Sponsors of the project properly utilise this cumulative strength of knowledge to solve the manifold problems of fast-changing economy. Thus this management set-up is a marketing advantage.
Main Furniture companies in Bangladesh
1. Name of the companies:
b) Partex Furniture
d) Navana Furniture
e) Akhter Furniture
f) Brothers Furniture
Source: Bangladesh Furniture Indus. Owners Association Report-2010. Segmentation, Targeting &positioning (STP) of partex Furniture:
Partex Furniture Industries Ltd. products international quality furniture. A combination of special imported board, stainless steel accessories and high standard plywood offers the best quality and cost effective substitute for natural timber foe custom made innovative, modern and stylish furniture. Partex Furniture produces a diversity of products maximizing the use timber substitutes as well as products of solid timber. Partex Furniture segregates its product with individual care wise .such as:
The Sky is not the limit for Furniture Market but expectation is within limits Therefore, our imagination soars beyond conventional barriers. You share or destiny with our beloved motherland. You went to serve her in the greeter quest for national uplift .partex Group is committed to the prosperity of Bangladesh. Your enterprises play a positive role in alleviating poverty and generating employment an important objective of our country .his has been possibly though continuous customer support and loyalty which we are proud .You endeavor to reach our product and services at the client doorstep through a network of sales and distribution outlets. Human resources is Your key asset, who translate the group’s objectives into realistic performance. You are committed to have the best people and train them to get best from them. Your is a free market economy, where privet sectored plays a key role in establishing an industrial base. You believe in new ideas and technology which the road to the furniture. You shall travel this road hand in hand with our customers and Your employees to seek and find prosperity for the Group and the country .You are the leading furniture solution provider in Bangladesh achieving your business vision through growth in market reach activities by the being most customers focused& Innovative, cost effective& efferent, environmentally responsible &quality concerned company in the business. To be the most consumer focused, competitive, efficient, innovative, and environmentally responsible and quality concerned leading market oriented furniture manufacturer, sales and distributor of Bangladesh.
Positioning: positioning or market Share : per year
a. Otobi Ltd -500 Crone/year
b. Partex Furniture -100
c. Hatil Furniture -45
d. Navana Furniture -40
e. Akhter Furniture -20
f. Brothers Furniture -15
g. Legacy -10
It is clear that partex Furniture is in the second position in the Furniture market of Bangladesh.
Internal Analysis- Summary
|• Top level Decision Making with vast information seeking from low level managersftake inputs||• Complex structure- difficult to understand|
|• Centralized DM|
• Poor understanding of the structure by the mid level manager
• Present structure hampers successful growth in the future
|• Consistent culture||• Family owned business concept very prominent|
|• Emphasis on quality, craftsmanship and design and|
integrity is maintained. . i •• •
company• Promotion only up to a certain position, which may be de-corporate ladder• Customers are not refused a certain limitation of the company
|• Wide range of customer base|
|• The corresponding strategy is to focus on quality first and then respond to demand||• Planning many program but not clearly stated ,mereiy implied|
|• Planning many programs for growth|
|• Programs consistent With corporate mission||• Positioning by high quality product at affordable price. Therefore product mx needs to be suited for each income group|
|• No past trends to base its judgments or strategy formulation but can be countered with good research and forecasting|
|• Technologically advanced in terms of developing new product||• Research is mainly observational and participation|
|• Cost and quality can be controlled as they are already in the supply side|
|• Consistent with mission and values|
External Analysis –Summary Five factor model
|Based furniture||Based furniture|
|• High capital requirements for entry|
|• Chairman being the member of the parliament can forecast regulatory changes better than competitors.||• The market is a free market and opens to any new entrants.|
|• The current differentiation strategy of partex strong enough to bar both new and existing competition.|
|• Partex gauges expected retaliation|
|• Threat of substitutes|
|• Close substitutes are not performing in the same market segment|
Functional -Level Strategies Marketing
Always tries to pursue new product development focusing on quality, design and customer needs, providing, feedback to both customer and specialized functions, in order to expand their market.
Research & Development
Depends mainly on customer feedback for new product development and communicates this to other functional areas, such as production
Concentrating on reaping most benefits out of panel based furniture due to low lead time, automation and sound vertical integration .At the same time, inefficiencies in timber -based furniture are attempted to be cantered withhigh design and craftsmanship quality and doing batch processing to minimize cost.
Global – Level Strategies
It is not planning To put any manufacturing set up in the host country, pertex will manufacture its products exclusively in the home country .As partex’s current targeted foreign market is USA it has low pressures for cost reductions.
Pressures for Local Responsiveness are low as well.
Functional Level Strategies
|Marketing &efficiency||• Pursuing quality customer needs and design research|
• Showroom situation at a poor location
• TV media not yet utilized
• Only one outlet as of now
• Pricing strategy inconsistent with stated objectives and actual implementationMarketing & quality• Very customer focused
• Providing customer feedback on qualityMarketing & innovation• Provides result of research to business development function
• Always persuading new productMarketing &customer responsiveness• Customer focused
• Communicated customer feedback to appropriate function
Always tries to pursue new product development focusing on quality design and customer need, providing feedback to both customer and specialized in order to expend their market.
Enhance aggressive marketing through consistent pricing perceptions within customers, having more outlets, and pursuing other media to promote
|R&D and efficiency||• Focusing only on new product which are not necessarily easy to produce|
|R&D and quality||• Product design based on what is wanted by customer -not based on manufacturing ease|
|R&D and innovation||• Develops new product but process innovations low|
• Cooperation with other function doneR&D and customer responsibility• Innovation customer in identification their needs
Depend mainly on customer feedback for new product development and communicates this to other functiona! areas, such as production
include example Develop product that are needed by consumers but focusing mainly on manufacturing ease and process innovation, 3.
|Production & efficiency||• Flexible manufacturing already done for panel -based furniture • No optimal capacity allocation done for timber based furniture • Presence of vertical integration enables efficiency.|
|Production & quality||• Long production runs for panel based furniture making it difficult to judge source of defects|
|Production &innovation||• Ease of manufacturing considered -timber based batch processing. • Some innovation in process both for panel and timber furniture|
|Production &customer responsiveness||• Customization done but not always with flexible manufacturing • Resource time good for panel based furniture b/c lead time low • Response time bad for timber based furniture b/c lead time high.|
Concentrating on reaping most benefits out of panel based furniture due to low lead time automation and sound vertical integration. At the same time, inefficiencies in timber-based furniture are attempted to be countered with high design and craftsmanship quality and doing batch processing to minimize cost.
While concentrating on efficiency the company needs to create task forces to enable flexible manufacturing for timber based furniture.
Strategy in Global Environment for Partex
Choice of Entry Mode Exporting
• It is not planning to put any manufacturing set up in the host country.
• Partex will manufacture its products exclusively in the home country. Strategic choice
• As partex current targeted foreign market is USE it has low pressures for cost reduction,
• Pressures for Local Responsiveness are low as well
- At present partex furniture is targeting USE as their foreign market.
- Cost of establishing manufacturing operations in foreign country is being avoided.
- Manufacturing only in home country will enable the company to realize substantial economies of scale with added global sales volume.
- Moreover, Bangladesh being the home country partex has the advantage of cheap labor and cheep raw materials
Should calculate regarding the pros and cons that will be associated with trade barriers of the foreign country.
The company should also carefully verify the transportation costs associated with exporting, and then compare it with possible profit gains.
The buyer is the next person downstream in the channel of distribution. Thus the buyer for the subject firm in our case was previously the manufacturer while now it is the wholesaler and the final consumer.
The factors that increase a buyer’s power are the mirror images of those that increase a supplier’s power Thus buyers have enhanced power;
When they are concentrated and buy in volume. These condition give buyers power over small, fragmented suppliers.
However furniture buyers can integrate backward if suppliers cannot offer satisfactory prices
(Macro)General Environment The general environment is composed of five sectors:
Socio- cultural : Society’s traditions ,values ^attitudes, beliefs ,tastes, and patterns of behavior, and how they are changing effect the operation of any business .partex is no exception in this regard. A few variables in General environment is provided below:
|Technological Environment||Macro economic Environment|
|Consumer electronics||Exchange rates|
|High definition television technology||Savings rats|
|Process innovations||Trade deficit /surplus|
|Industrial disasters||Budget deficit /surplus|
|Political/ Legal Environment||Sociocultural Environment|
|Deregulation||Women in the work force|
|Relaxed antitrust enforcement||Health and fitness awareness|
|Environmental product laws||Erosion of educational standards|
|Similarity in consumer tastes and preferences||Spread of addictive drugs|
|Powerful economic alliances||Concern for the environment|
|Opening of eastern bloc countries||Aging of the population|
|Third world debt problems||Ethnic composition|
|Maturing of the baby boom generation|
|Regional changes in population growth and decline.|
Political -Lesal Forces:
The government of Bangladesh according to the policy it follows allowed an open marked scenario in the furniture industry where foreign companies and their products compete side by side. There is no cartel on local or foreign product .as a result of this competitors market not many local firms exits in the market.
There is also a protection law for wood logging here hi Bangladesh. In addition to this, partex itself is an environment concerned organization that uses less wood to produce more substitute product.
In Bangladesh the use of technologically advanced wood framing equipment is not present. This is primarily because of the nature of the business : wood crafting is highly customized and depend on craftsmanship .Thus over the year skilled craftsman with individual catering towards a small group of customers have shaped the consumer behavior as well as the nature the business. The result is technologically not advanced procedure of making wood furniture.
SWOT Analysis of Partex Furniture Limited.
SWOT stands for strengths, weakness, opportunity and threats. A company must have strengths and weakness in different section. Also it has some potentiality and faces some different kinds of markets threats and opportunity. This analysis provides a through picture about the company’s overall conditions.
- · Partex Furniture Limited has large amount of asset.
- · Their top management is very strong. They have taken all decision timely and manage all things in a systematic way.
- · The labor forces of the company are very cheap and readily available. They are skilled and effective workers.
- · The important policy of the company has been flexible and friendly for import of raw materials of garments accessories.
- · The company has a strong base of buyer to sustain in the competitive market.
- · Partex Furniture Limited have independent sample production unit, having highly dedicated professional merchandising and quality control team to ensure buyer satisfaction.
- · Partex Furniture Limited serious about their shipment of their orders.
- · Partex Furniture Limited has expert and skilled workers.
- · Partex Furniture Limited has highly improved machinery and information technology to ensure the best quality.
- · This company has workers training and development facilities.
- · Management stuff has adequate transport facilities.
- · Their employee turnover rate is low.
- · Their medical facilities are highly available.
- · They paid salary at a right time
- · Research and development (R&D) practices are not available. It has become a barrier in effective and efficient market research, new product development, corporate strategic planning etc.
- · Partex Furniture Limited depend on 90% imported raw materials and technology.
- · Partex Furniture Limited administrative cost is comparatively higher than any other company.
- · Because of the world wide bad economic condition, textile industry is earning limited profit.
- · Window-dressing of Partex Furniture Limited is not good.
- · Very higher quality product which have a good demand in international market.
- · Fashion institutes are growing day by day worldwide which increases the opportunity to textile industry by increasing large number of buyer’s orders.
- · There is a good opportunity for marketing in knit wear garments in future.
- · Very competitive in international market, especially in China for their lower labor cost.
- · Many new competitors are coming in front with new product style and technology.
- · Dependency in foreign countries so far raw materials price in increasing day by day.
- · Partex Furniture Limited is affected by the Govt. regulations of exports and import policy. And customs facilities are not well mannered which hang the company’s business operation smoothly.
- These are the terms that help us to understand the condition of the Partex Furniture Limited.
- Production: production capacity of modanpur Factory is more than the market demand.
- Technology: Technology used for the production is not fully automatic, some are semi automatic.
- Production personnel: They have some lack of knowledge about the use of machine.
- Marketing Reporting: Marketing intellect report are not systematic and well organized.
- Sales Analysis: The sales analysis of each product life -cycle is absent.
- Marketing Research : Marketing research for each product has not been done;
- Deafer promoting : Deafer promotion only at commission level has been done;
- Dealer: number of dealer is not up to the make and still so many districts are still untapped.
- Brand Management : Complete brand management is absent for individual brand;
10.Distribution :The distribution process is not systematic
11.Outdoor Marketing :There is no plan for outdoor marketing , which is very effective for completive market 12.Advertising and promotion: Advertising and promotion plan is not wed enough for find out competitive market. 13.Information Flow: Information flow between department to department and people to people is very slow.
14.MIS: Management information system is not up to ate. 15.Budget: The budget of this company is not enough.
- After Sales Service: After sales service should be provide at all the show -room .It will save time and effort of the people.
- Design of some furniture: some product design of the company is very traditional .There are so many products similar to our design are now available to our competitor.
- Drop out slow moving product.
- More Advertising: To increase the sales advertising on print media, Electronic media should be increase.
- Dealer increasing: Dealer should be available in all districts. Then I have to find out according to the market potentiality for more than one dealer in the same market.
- Marketing plan for slow moving product: plan for slow moving product such as; Hospital furniture.
- More Tanning for the officer Level: At present more training is needed about the salesmanship. Market research for find out the target market, dealing product knowledge, product development marketing product etc.
- Marketing Research: Marketing research for each brand has to be done for getting the clear picture for product positioning against the competitors product and finding out furniture.
- Budget: The budget will be required to up greeted future.
It is impossible to have a clear -cut idea of a big company within a short time. But according to my observation this company is suffering from a tremendous problem in following areas, which are the main obstacle for the company optimum growth.
Company is in developing stage. Gradually it is trying to figure out its system fall and week comer. In spite of many problems, it is the pioneer in furniture industry in our country. Hope it will be a systematic and standard organization.