About Raymond..

The complete man

Raymond, one of the premier Indian textile major. Raymond was incorporated in 1925 and has grown to a household name since then. The Raymond Group within a few years, transformed from being an Indian textile major to being a global major. Raymond manufactures, the world's finest fabrics- from wool to wool-blended worsted suiting to specialty ring denims as well as high value shirting. Raymond is one of the largest players in fabrics, designer wear, denim, cosmetics & toiletries, engineering files & tools, prophylactics and air charter services in national and international markets. All plants are ISO certified, leveraging on cutting-edge technology that adheres to the highest quality parameters while also being environment friendly. Raymond Textile is India's leading producer of worsted suiting fabric with over 60% market share. With a capacity of 25 million meters of wool & wool-blended fabrics, Raymond Textiles is the worlds third largest integrated manufacturer. The company exports its suitings to more than 50 countries including USA, Canada, Europe, Japan and the Middle East. Over the years, Raymond Textile has developed strong in-house skills for research & development, which has resulted in path-breaking new products. Perceived as pioneer and innovator, Raymond Textile has been responsible for raising the standard of the Indian textiles industry. Trust, Excellence, Quality, these are some of the abiding values that have been associated with Raymond over the years. Today, we have the distinction of being the world's largest integrated producers of worsted suiting fabrics. As an integrated player, we provide end-to-end fabric solutions right from manufacturing worsted, woollen and linen fabrics to creating suits, trousers and apparel. Their consistent focus on cutting-edge research and technology has resulted in pioneering new products which have set new benchmarks in the worsted suiting industry in India.For example, they have the distinction of producing the finest suiting in the world using super fine wool from 80s to 240s count and blending the same with superfine polyester and other specialty fibres, like Cashmere, Angora, Alpaca, Pure Silk, Linen etc. They produce nearly 20,000 designs and colours of suiting fabric that have found their way in over 55 countries including the European Union, USA, Canada, Japan and Australia among others. Even as our products evolve with the times, the brand still caters to the different faces
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of 'The Complete Man'- a man who is caring, sensitive and places a huge premium on relationships. They are today one of the largest players in fabrics, designer wear, denim, cosmetics & toiletries, engineering files & tools, prophylactics and air charter services in national and international markets. All their plants are ISO certified, leveraging on cuttingedge technology that adheres to the highest quality parameters while also being environment friendly.

Vision To be known as the leaders in Worsted Suiting Driven by high quality

Building a long term equity with consumers across generations

Their Values Trust Leadership Quality Excellence

Research Methodology
Why the study? The study has been conducted to understand the brand equity, brand recognition,brand recalling , brand loyalty,brand association and perceived brand quality of Raymond. What is it about? The study is about the brand identification of Raymond Suiting and Shirting. Where will the study be carried out? The study has been conducted through online questionnaires and places such as Inorbit Mall (Vashi). What type of data is required ? The data required is both Primary and secondary. Primary data has been collected through questionnaires. Where will the data be collected from? The study has been conducted through online questionnaires and places such as Inorbit Mall (Vashi).

What sampling techniques be used to collect data? The sampling techniques which have been used are simple random sampling and judgemental sampling

How will the data be collected? The data is collected through Questionnaires.

What is the time framework for the study? The study has been conducted within the framework of one and a half months.

How will the data be analyzed? The data is analysed with the help of Microsoft Office Excel.
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How will the report be presented ? The report will be presented in the form of hard bound copy.

Brands under Raymond limited

Raymond Premium Apparel is a premium formal wear brand which is postioned to offer classic garments with impeccable fits and inviting styles to the Global Indian. Needless to say that the product is made only from premium Raymond fabrics.

Manzoni is a luxury lifestyle brand offering the discerning customer a super premium range of formal wear and sportswear including shirts, suits, trousers, jackets, ties and leather accessories. Our exclusive designs provide customers the best in contemporary international style & luxury. Each garment is crafted from the most exotic cotton silk, linen and superfine wool, the best-in-the-world linings, interlinings and threads sourced from around the globe.

Launched in 1986, Park Avenue is today, India's most admired formalwear brand. It offers stylish and innovative wardrobe solutions to

gentlemen for all their dressing needs, be it Business, Evening, Leisure, Travel or Heritage Wear. The brand has received several awards. Recently, it had the honor of being the 'Most Admired Brand' at the Lycra Images Fashion Awards 2007 for the third consecutive year. Crossing the gender divide, Park Avenue launched 'Park Avenue Woman' - a complete range of Business Wear for women. Park Avenue Woman is designed specially for the working women professionals of today. ColorPlus is one of India's premium and most respected casual wear brands offering customers a range of shirts,
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trousers, knits and survival gear. ColorPlus constantly innovates processes and technologies offering buyers new worlds of comfort. Some of the technological innovations it is well known for; include thermo-fused buttons, golf ball wash, soft jeans, wrinkle free technology, stain-free fabric, and the cone dyed technique. Adding new color now to the womans wardrobe, ColorPlus recently launched ColorPlus Woman - An exclusive range of smart-casual clothing. Parx is a premium casual lifestyle brand, which is positioned to cater to the needs of consumers who are looking for dressing up for life across occasions and events. Parx makes available the latest international trends through differentiated designs and styles. It has always been part of the consumer who is looking at making lifestyle statements. The burgeoning children's wear market has now turned stylish with Zapp! - our range of stylish and fashionable kidswear. The brand brings to 4-12 years a wide range of clothes, accessories, bed and bath linen and more. The first Zapp! store has been launched in Ahmedabad with ten more on their way for kids across the country. Notting Hill reflects style and manifests

originality of today's fashion- conscious and discerning young professionals at an affordable price. The brand collection features a spectrum of men's lifestyle products comprising of suits, shirts, trousers, jeans, t-shirts and also accessories like ties, handkerchiefs and socks. The Raymond Shop is a premium retail store offering complete wardrobe solutions for men, which includes topof-the-line brands - Raymond, Manzoni, Park Avenue, ColourPlus and Parx.

Raymond the complete mans brand

Creating the complete man Raymond's was one of the first companies in the Indian textile industry to use advertising in a major way to promote its products. The company's advertising efforts began way back in the 1970s, with Raymond being advertised as 'a guide to the well-dressed male.'...This campaign is the starting point for any other advertising strategy. But is Raymonds Complete Man, a man who is the epitome of loving, caring, and also style, in danger of being left behind? Creating waves Some saw it as an emasculation of the Great Indian Role Model. Others raised toasts to him. Finally, they cheered, some real flesh and blood they said emotions, a sense of humor and sensitivity rather than just brawn. Even a touch of vulnerability. The dream guy with no shining armour. A man for the liberated Indian woman.

The rival players

Rival brands knew that they had to position themselves away from the Complete Man. Just to gain an identity of any sort.

The obvious way to stand apart, as some brands had known all along, was not to have a fictitious personality, but an actual celebrity. Vimal had a series a cricketers, back in the 1980s, including Vivian Richards and Ravi Shastri. Digjam had Shekhar Kapur, the film maker. Tiger Pataudi was the Gwalior Suitings man, and Sunil Gavaskar posed for Dinesh Suitings. But agencies subconsciously started to emulate the persona of the Complete Man. Pataudi turned discernibly more family-oriented in the later days of the Gwalior series, with his wife Sharmila Tagore and actor son Saif Ali Khan making appearances. Shah Rukh played Mayur Khan for Mayur suitings, an actor with a family man image. OCM tried to go soft too and attempted to show how the suiting gets the OCM man his wifes attention. The ad spot had the wife not noticing her husband when he comes home from work, until he changes into a suit. Suiting companies like Reid & Taylor still go in for celebrity advertising and And today Amitabh ofcourse, the Bachhan man endorses getting the the brand girl instead is a of Pierce Brosnan. theme.
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re-current

However in the dawn of this millennium suiting advertising has become more product oriented. Brands today hawk the feel and finish of the fabric. Occasionally we have suitings which claim to look good but are not as expensive. This is a direct hit at Raymond. Brand A brand is the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, color combination or slogan. A legally protected brand name is called a trademark. As such a brand signals to its customers the specific source of product and attempts to protect both the producer and customer from competitors who ultimately endeavor to provide products that seems to be identical. A brand is a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can be easily communicated and usually marketed. A brand name is the name of the distinctive product, service, or concept. In our project we have taken the brand Raymond. The slogan used by Raymond is The Complete Man and the color of the brand is red. Brand Raymond has a distinctive symbol and name created with the intention to identify and recognize the suitings and shirtings of Raymonds. Another purpose is to differentiate its goods or services from its competitors. As such a brand signals to its customers the specific source of product and attempts to protect both the producer and customer from competitors who ultimately endeavor to provide products that seems to be identical. A brand is a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can be easily communicated and usually marketed. A brand name is the name of the distinctive product, service, or concept.

Brand equity
Brand equity can be defined as an intangible value (e.g. brand name association, perceptual distortions) attributed to a product by virtue of its brand name, which cannot be directly attributed to the physical product.

Brand equity is the outcome that accrue to a need/want satisfier when the brand name is added on. It is the incremental contribution (Money) per year obtained by the brand in comparison to the underlying product (or service). The incremental contribution is driven by the individual customers incremental choice probability for the brand in comparison to his or her choice probability for the underlying product with no brand-building efforts. A useful definition is that a brand is the sum total of all that is known, thought, felt and perceived about your company, service or product. Branding, then, is the process of making products and companies into brands - the consistent and disciplined way a company communicates a brand's essence to the public.

Brand Equity model comprises of the following parameters:

Brand Equity Model uses a unique model to divide brand equity into various components. This analysis enables marketers to assess the equity associated with their brand name and use that information in a variety of ways, including developing a communications platform for the brand and generating line-extension concepts.

Brand Awareness Brand awareness is an important way of promoting commodity-related products. This is because for these products, there are very few factors that differentiate one product from its competitors. Therefore, the product that maintains the highest brand awareness compared to its competitors will usually get the most sales. Brand Recall Brand Recall is the extent to which a brand name is recalled as a member of a brand, product or service class, as distinct from brand recognition. Common market research usage is that
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pure brand recall requires "unaided recall". For example a respondent may be asked to recall the names of any cars he may know, or any whisky brands he may know. Brand Recognition Brand Recognition is the extent to which a brand is recognized for stated brand attributes or communications.In some cases brand recognition is defined as aided recall - and as a subset of brand recall. In the case, brand recognition is the extent to which a brand name is recognized when prompted with the actual name. Brand loyalty In marketing, consists of a consumer's commitment to repurchase or otherwise continue using the brand and can be demonstrated by repeated buying of a product or service or other positive behaviours such as word of mouth advocacy. Perceived brand quality Consumer's opinion of a product's (or a brand's) ability to fulfill his or her expectations. It may have little or nothing to do with the actual excellence of the product, and is based on the firm's (or brand's) current public image (see corporate image),consumer's experience with the firm's other products, and the influence of the opinion leaders, consumer's peer group, and others.

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Brand Equity Pyramid A standard tool for understanding a brands associations to customers response. The strongest brands exhibit both duality (emotional and functional associations) and richness (a variety of brand associations or equity at every level, from salience to resonance).

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Analysis of the questionnaire

1. Brand Recalling (Name any 5 brands that come to your mind when you think of suitings and shirtings?)

Variety
60 50 40 30 20 10 0 Raymond Ried & Taylor Siyarams Others Variety

The respondents were asked to recall any 5 brands for suiting and shirting. Out of 50 respondents 30 recalled Raymond before any other brand. This indicates that Raymond as a brand is in Top of the mind of most of the respondents. The other brands which were recalled were Reid and Taylor, Siyarams, Vimals, OCM and Mayur.

2.

Brand Recognition

(Identify the following brands from the taglines mentioned below? ) (a) Bond with the best (Reid & Taylor) (b) The complete man (Raymond) (c) Coming home to (Siyarams)

Knowledge
100 80 60 40 20 0 Bond with The Coming the best Complete Home to Man Knowledge

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As it can be seen from the charts almost 100% respondents were able to recognize the slogan of the complete man with Raymond. This shows us the success rate of the Brand Slogan. 3. Brand recognition and Knowledge Reid & Taylor Siyarams Raymond

(Identify the logo colour of the following different suitings brands?) (a) (b) (c) Dark green Black Red

Logo Colour
100 80 60 40 20 0 Reid & Taylor Raymond Siyarams Logo Colour

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4.

Brand Loyalty

(How likely are you to continue to choose/repurchase Raymonds suit? ) (a) Not at all likely (b) Somewhat likely (c) Fully likely

Comeback
70 60 50 40 30 20 10 0 Fully Likely Somewhat Likely Not at all Likely Comeback

70% of the respondents said that they were brand loyal to Raymond and are fully likely to purchase suiting and shirting material from The Raymond Shop. 28% said that they are somewhat likely as they would consider other brands as well. Only 2 % of the respondents were unhappy and said that they were not going to choose Raymond. These figures indicate that the brand loyalty to Raymond Suiting and Shirting in the Indian markets is immense.

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5.

Brand Differentiation

(Do you think that Raymond is different from other suiting brands? ) (a)Yes (b)No

Differentiation
80 70 60 50 40 30 20 10 0 Yes No Differentiation

6. Perceived Brand Quality (Which is the one brand you strongly associate with the overall attributes of their product?) The quality with which the respondents identified Raymond the most were with quality and designs. However, other brands of Siyaram, Reid and Taylor and mayor were preferred in terms of fittings and price points.

7. Perceived Brand Quality (What do you think regarding the quality offered by Raymonds?) (a) Superior quality (c) Acceptable quality (b) Good quality (d) quality is not good

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Quality
50 40 30 Quality 20 10 0 Superior Good Acceptable Poor

As seen in the chart, most of the respondents rated Raymond to be associated with good quality of fabrics.

8. Customer Satisfaction ( How satisfied are you with Raymonds suiting?) (a) Not at all satisfied (b) Somewhat satisfied (c) Fully satisfied

Customer Satisfaction
80 60 40 20 0 Fully Satisfied Somewhat Satisfied Not at all Satisfied Customer Satisfaction

9. Product Attributes ( Rank the following attributes in order of importance to buy a suit? )
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(a) Fitting (b) Design (c) Quality (d) Price points

Suiting Aspects
30 25 20 15 10 5 0 Fitting Design Quality Price Points Series 1

10.

Customers sensitivity to price and Brand Loyalty

(If there is increase in the Price of Raymond then would you switch to the other brands?) (a) yes (b) no (c) may be

Premium Price
50 40 30 20 10 0 Yes No May Be Premium Price

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50% of the respondents said that they would not switch to other brands if there are minor price changes in fabrics of Raymond. These customers are the brand loyal customers of Raymond.

Inferences drawn from the questionnaire

Raymond is a high esteem and high knowledge brand.

Brand Strength=Differentiation*Relevance Brand Stature =Esteem *Knowledge Brand Equity= Brand Strength +Brand Stature 50 respondents were covered under the survey. 40 out of 50 respondents belive that Raymond is different from its competing brand. Brand Differentiation = 0.8 All the respondents knew about the logo and the red colour used by Raymonds. Therefore, the brand knowledge about the product is 100%. Brand knowledge = 1 40 out of 50 respondents said that the quality provided by Raymond is of superior or good quality. Therefore, Brand esteem of Raymond is 80%. Brand Esteem = 0.8 Brand Stature =Esteem *Knowledge Brand stature= 0.8*1= 0.8 Brand Strength=Differentiation*Relevance Brand strength= 0.8* 0.8= 1.6

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Therefore, Brand equity= Brand Stature+ Brand Strength 1.6 + 0.8 =2.4

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