INDIAN HANDBAG

MARKET FOR WOMEN

MARKETING RESEARCH PROJECT- GROUP 7

PRESENTED BY:
ANURIMA SHARMA -21068
AKASH PESHVE -21062
KABIL S -21107
THANVI MUNDRA-21116
THEJAS SRINIVAS -21117
VIDYA V-21119
Table of Contents
INDIAN HANDBAG MARKET FOR WOMEN..............................................................................1

Introduction to the company..............................................................................................................1

Market features:..................................................................................................................................1

Research Purpose................................................................................................................................2

Research Problem................................................................................................................................3

Research Objectives............................................................................................................................3

Secondary Research............................................................................................................................3

Decision Making Context....................................................................................................................4

Research Respondents.........................................................................................................................5

Sampling...............................................................................................................................................5

Research Hypothesis............................................................................................................................5

Dummy Table......................................................................................................................................6

IRP table...............................................................................................................................................7
INDIAN HANDBAG MARKET FOR WOMEN
The handbag market in India has evolved because of the changing roles of women in Indian society
and the rise of urbanisation. It has evolved from a bare requirement to a way of life for many people
to wear accessories as part of their outfit. People are going out more frequently these days, and they
need a bag for every situation.

An estimated Rs 2,500 crore would be generated by the women's handbag market in India over the
next five years, with a compound annual growth rate of roughly 17%. The market is likely to expand
as the middle class grows and literacy rates rise. As a result, there has been an increase in fashion
awareness and a rise in the number of foreign companies entering the market. An estimated 72% of
the market is dominated by unbranded products, including regional and local ones. The branded
segment, on the other hand, is expected to increase at a rate substantially higher than the entire market
(approximately 25 percent) in the coming years.

Introduction to the company

Name of The Company: WHITE TULIP HANDBAGS LTD.

Our Story: As an Indian brand we acquire the distinct touch that allows us to stand out. We believe
in contributing to the constantly growing economy. Through local manufacturing and distributing
internationally, we take an oath to accelerate India's growth story. We deliver quality bags that are
made of cruelty-free material. This sense of awareness capacitated us to lead a clean process which
received the PETA award.

Market features:
Variety- As different people have different taste in colour of bag, the design of the bag and utility of
the bag we intend to interduce wide variety of option for the consumers to choose according to their
needs and preferences.

Green manufactured and Eco-friendly- Several fashionable products have a negative publicity for
being environmentally damaging. A genuine leather purse would be eco-friendly. As is well known,
leather is a natural substance that is not chemically processed nor of any animal skin. As a result, no
pollutants are emitted into the atmosphere during manufacture.

Durable- handbags should withstand wear and tear while protecting all of your belongings. If our
purse isn't long-lasting, it could cause harm to our most priceless possessions. All bags should be
extremely robust. It's crucial. Durable handbags survive for several decades if you take good care of
them. These bags won't need to be changed at any point in time.
Quality - It’s common for women to try to save money for months and even years because they have
believed in the quality about certain brands. Handbags are assessed by the craftsmanship of its
material hardware, zippers, lining, and seams. Women like to think they look fashionable when they
match their attire with high-end handbags.

Working definition of the product: Women's purses can make a bold or subtle fashion statement,
depending on their technical or industrial design. A woman can simply transport her most prized
possessions when she uses one of our purses. They'll be able to keep their medicines, wallets,
cosmetics, and other essentials secured.

Comfort- The bags are designed to provide consumers with comfort. Soot and lightweight bags can
provide some comfort for hands and shoulders of the consumer. A purse may take a toll on your
shoulders. If the bag contains padding, it is comfy. Paddling on both sides secures the belongings and
allows you to relax. Thus, we may conclude that comfort is another critical component of a beautiful
handbag.

Heavy duty- a product when manufactured should be of a heavy-duty material so that it does not
wear off easily when used. Nobody would want to stop using their product as it is no longer of use
because of the quality. When a person invests in product, he or she expects it to last long especially
when it comes to product like these which are not purchased on a Regular basis.

Heterogeneity-We need to keep this one thing in mind that we are not targeting a specific age group
or audience, the bags are to be made for the women’s who range from young to old. And obviously a
6-year-old girl won't be using a bag which is manufactured for a woman who is of 60 because it is
manufactured based on the needs of a 60 years old and not 6 years old.

Keeping this thing in mind producing or manufacturing the bags based on the needs and for the larger
audience should be done to gain the maximum market share.

Research Purpose
Handbags are an integral part of modern women's lives. Customers can choose from a wide range of
trendy handbags available on the market these days. Women's handbags are a fashion statement that
can either make or break a look. Women can comfortably hold their essential personal belongings in
these fashionable bags.

Bags are where women keep their various belongings such as their phones, keys, money, and so on.
Handbags, both luxurious and designer, are shopping pieces that women can't seem to resist. When it
comes to style and fashion, women are always looking for new ways to make themselves look their
best. Even though these designer handbags are very pricey, women are always searching for a
handbag that will make them stand out.
Research Problem
Our research problem is to identify factors that attract consumers in purchasing new luxury handbag
in India. Every country has its own unique market behaviour; hence it is important for to research on
the consumer behaviour of Indian market.

Research Objectives
Our research objectives are classified by the 4Ps – Product, Price, Place and Promotion, of the
marketing mix to collect responses holistically. This will further help us to have an in-depth
understanding of luxury handbags from the survey responses.

Research objective 1 (Price) – To identify the effect of pricing and product qualities on perception of
brand value.

This will allow to set a realistic price for the products in accordance with the product quality.

Research objective 2 (Product) – To find out what kind product design and quality that will attract
consumers.

Research objective 3 (Demographics) – To identify potential consumers of handbag in India

This will allow to understand consumers expectations of the product features.

Research objective 4 (Place) - To study the effect of brand exclusivity related to boutiques.

This will show where the distribution channels of the products should be placed.

Research objective 5 (Promotion) – To evaluate the effectiveness of different marketing strategies.

This will allow to identify the different marketing channels and strategies that will best attract
consumers in India.

Secondary Research
Luxury brands are expressed by brand exclusivity and brand premiums. Consumers distinguish brands
to be more exclusive and premium by how scarce it is. Another factor that prompts consumers to
indulge in luxury brands is Social Identification. In most circumstances, superiority in quality and
price makes a product a luxury.
Decision Making Context
Identify the Decision: The company should decide that how product is been placed into the market in
what category it would mainly focus. Where it would position in terms of costing and make decision
in term of age group.

Gather Relevant Information: Nowadays handbags are an investment in style and personality
aspects, and they do not want to make wrong decision. They even while purchasing the customer
extensive amount of research prior to purchasing the handbags through online research, websites,
magazines and even retail stores.

Identify the Alternatives: The company should possible not only focus on one channel for marketing
the handbags. It should make some newly added extra features to the existing brands in the market.
The handbag market is more into consider as luxury segment product.

Weigh the Evidence: As our company have positioned the product into an being more stylish with
environmentally friendly. Which is more into sustainable towards fashions that will be new to the
market. The product will also be more pocket friendly with high value for money product.

Choose Among Alternatives: The product should match the goals & objectives on the company.
Product strength is its stylish approach with environmentally friendly towards sustainability. There is
high demand in the market for the product due to its new character that are not provided by its
competitors & the product able to be more efficiently and effectively in a long run.

Take Action: Once the company have made the decision, it should act on it. Develop a plan to make
your decision tangible and achievable. Develop a project plan related to company decision.

Review Your Decision: After a predetermined amount of time which you defined in step one of the
decision-making processes take an honest look back at your decision. Did you solve the problem? Did
you answer the question? Did you meet your goals? If so, take note of what worked for future
reference. If not, learn from your mistakes as you begin the decision-making process again.

Research Design

Approach: A qualitative method and quantitative method will be employed. Both methods aim to
probe the type of handbag, difficulties faced in using handbags, kind of handbags used, and whether
they are looking for the new models etc.

Type of research: Exploratory research is an important part of any marketing or business strategy.
The exploratory market research attempts to discover general information about a topic that is not
well understood by the marketer. It is most used for defining issues, areas of potential growth and to
prioritize the area that is required statistical research. The steps include, identifying the problem,
creating the hypothesis, and further research. And the methods include, surveys/polls, focus groups.

Research Respondents
1. Existing Users

2. Housewives

3. College Students

4. Public/private sector women employees

Sampling
Sample size: 100

Define the sample population: What type of contact options are you using?

The proposal will have the groups with following profiles: Brand Buyers, Street Shoppers, Retail
outlet buyers, Age group, Working/Non-Working

Research Boundary: The research boundary which we have fixed comprises of some of the areas
which fall under the Mysore City Corporation limits. The research participants belong to the middle-
and high-income group.

Research Hypothesis
In the hypothesis we have designed two questions which are the null hypothesis and
alternative hypothesis. By this we conduct a test for significance. The null hypothesis is
represented as H0, and the alternative hypothesis is represented as H1 which we are
interested in proving.

H1: Price is an influencing factor in buying handbags for women.

H0: Price is not an influencing factor in buying handbags for women.

H1: Brand is an influencing factor in buying handbags for women.

H0: Brand is not a influencing factor in buying handbags for women

H1: Quality is an influencing factor in buying handbags for women.

H0: Quality is not an influencing factor in buying handbags for women.

H1: Handbags used for office or party purpose.

H0: Handbags not used for office or party purpose.

H1: The bag is durable and will come for many years.

H0: The bag is not durable and will not last for a long time

Pricing Range :1000-1800

Dummy Table
  Age

Factors to
consider
15-25 25-35 35-45 45-60
while buy
handbags

Price        

Brand        

Quality        

Durability        

Variables Rating (0-10)

Colour

Brand

Durability

Size

Trend

Shape

Design

Quality
Research questions:

 Whether or not 2 in 1 handbag is accepted by the customer?

 What type of handbags are preferred by working women?

 What price range do they prefer to pay for a handbag?

 What are the factors they consider when it comes to purchase a handbag?

IRP table

Source of information Info required Primary or secondary

College students 2 in 1 bag, acceptance, primary

Kind of bags preferred, 2 in 1

Women who travel frequently bag acceptance, factors primary
considered while they purchase.
 Price range of the bag, 2 in 1 bag
Working women who work acceptance, frequency of
primary
in office purchase, factors they consider
while purchasing.

Price range of the bag, 2 in 1 bag

Working women who does acceptance, frequency of
primary
the field work purchase, factors they consider
while purchasing.