Artist and its marketing strategies in Bangladesh
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Artisti Collection Limited is one of the leading and fastest growing ready-made clothing brands in Bangladesh. Artisti Collection Limited was founded in the year 1992 as a sole proprietorship business by Mr. Tariqur Rahman with a vision to be a leader in readymade outfits in Bangladesh with professionalism, quality, reliability and trust. Artisti firmly emphasizes on real internal growth and it is growing from year to year. The company is also proud of the fact that its growth of sales is sustainable, is increasing always. Artisti marketing strictly maintains the international quality parameter in relation to customer's requirement. Its strong brands image and having a full control both on their production, distribution and market outlet are their greatest strength. On the other hand, their very small market size in clothing industry due to less product variety is their greatest weakness. They have good opportunities as they can grow in the existing market with such a hi gh q ua l i t y b r and ima ge and launch new products like sports wears and sports shoes, they can also target international market by going global. Stock market failure and high import taxes on raw materials and finished products. The purpose of this report is to give our readers a practical insight on Artisti‟s marketing mix, market segmentation, products‟ position, competitor‟s profile, the changes that took place in the organization, company‟s competitive work place, organizational quality assurance, and Artisti‟s safeties and securities. It was quiet difficult for me in preparing this report because of the insufficient source of primary and secondary data, inaccessibility of data due to information confidentiality, and lot of the calculations and numerical data could not be included in this report as I would not access to them properly. In the i r marketing mix, they offer almost all kinds of products to create a complete fashion house, price is not their main concern to be focused in their promotional activities but to build their quality and reliability attributes on consumers mind, they have eleven market outlets all over the country among which nine in Dhaka, one in Chittagong, and one in Sylhet. They mainly follow cost-plus and psychological pricing or odd pricing in setting their products price. Their potential consumers are those who acknowledge the quality of Artisti brand and most importantly those who can afford the products. They develop their products for the targeted market based on clothing culture as well as from the religious perspective of Bangladesh. Their target market areas are Dhaka, Chittagong and Sylhet where the population density is high, per capita income is higher comparatively. The Company fall under the Question Marks in The Boston Matrix which means their market growth is high and on the other hand their market share is low. Among the major competitors of Artisti in the market such as Vasavi, Zara, and Shoppers World, only Shoppers World is the strongest competitors in terms of market share. However, Artisti is a price winner in the market as they have cheapest price for men‟s wear comparatively. The company brings changes both in their management and in their products variety. They have one of the best work place in the country. They are one of the rear companies in Bangladesh who owns a quality plan, compliant to international quality code/standards. They follow proper rules and regulations in following their safety and security measures.