Final Submission Monte Carlo Report

INTEGRATED PROJECT
MONTE CARLO FASHION LTD.
Submitted to:
PEARL ACADEMY
School of Fashion
PGFBMM B (2018-2020)
By:
Jasleen Kaur
Gurman Girgila
Gulnar Kaur
Rashi Garg
Submitted on:21/11/2018
ACKNOWLEDGEMENT
We have taken efforts in this project. However, it would not have been
possible without the kind support and help of many individuals and
organizations. We would like to extend my sincere thanks to all of them.
We are highly indebted to Mrs. Ritu Jain, Dr. Jaspreet Kaur, Mr. Varun
Duggal, Dr. Poonam Kumar & Mr. Bhaskar Das for their guidance and
constant supervision as well as for providing necessary information regarding
the project & also for their support in completing the project.
We would like to express our gratitude towards our classmates and teachers
for their kind co-operation and encouragement which helped us in completion
of this project.
We would like to express our special gratitude and thanks to industry

persons for giving us such attention and time.
Our thanks and appreciation also goes to each of us in developing the project
and the people who have willingly helped us out with their abilities.
DECLARATION
We hereby declare that the project work entitled “research

project report on Monte Carlo Fahions Ltd” submitted to the
pearl academy, is a record of an original work done by us under
the guidance of Mrs. Ritu Jain, Course leader of Post–Graduation
in Fashion Business Marketing and Merchandising. Due credits
have been given to the references used in the project. The result
embodied in this work has not been submitted to any other
University or Institute for the award of any degree or diploma.
NAME OF THE STUDENTS- Sign
Gurman Girgila
Gulnar Kaur
Jasleen Kaur
Rashi Garg
EXECUTIVE SUMMARY
We conducted this entire research in order to prove that our chosen
brand Monte Carlo is at the stage of maturity.
Chapter 1 : In the first chapter we gave a brief introduction about the
brand. We have done a rationale that is to prove that this brand is at the
stage of maturity. In order to attain all this information and statistics
about the brand, we conducted a pilot survey, went for a store visit and
studied their financials. And after doing all this research we can conclude
that Monte Carlo was a popular brand when we grew up and it seems to
have lost its popularity, it focuses mainly on winter wear, its sales has
been fluctuating in a constant range in the recent years, and the women
don’t buy this brand often. According to the secondary research that we
conducted, we got to know about the financials of the brand; there is
consistency in the sales figures of Monte Carlo since 2014. Hence, we
concluded that Monte Carlo is at maturity. We also mentioned the
history of the brand, its milestones, its evolution and the concrete plan
that they have for their vision, mission, and USP of the brand. We also
studied and quoted some journals.
Chapter 2: In the second chapter, we have mentioned the research
problem statements and the factors that led to Monte Carlo’s maturity
in which we have shared the quarterly revenue share. Then we did the
four research objectives that was to analyze the marketing strategies of
Monte Carlo, consumer satisfaction towards retail mix elements, to
identify the autumn winter trends of 2018 that are followed by Monte
Carlo, the details of the styles in men and women. For each research
objective we have mentioned the research design, methodology and the
data collection technique that is used.
Chapter 3:In the third chapter, we did the environmental analysis that
includes the PESTLE analysis, competitor analysis, product life cycle,
SWOT analysis, PORTER five force analysis. And then we did the
marketing analysis which includes branding, segmentation, targeting and
positioning, ansoff matrix, BCG matrix. Then we did the retail mix
analysis that includes assortment of merchandise, customer service,
pricing of the merchandise, approach to advertising, visual
merchandising, choice of location, size of the store. We also did the
consumer analysis in which we conducted tests on the data that we
conducted through our survey. The tests that we conducted are Pearson
and Spearman, which helped us to analyze the correlation between
certain variables which told us how correlated the two variables are.
Chapter 4: In chapter four, we mentioned the limitations that we faced

while discussing our research problem and doing our project.
Chapter5 : In chapter five, we mentioned the insights, the in depth

knowledge and findings about the brand with secondary, primary data,
personal observation, personal findings.
Chapter 6: In chapter six, we have divided our conclusion in two

segments: primary and secondary conclusions. We have talked about
the data that we got by the survey that we conducted, and the financials
that we studied through the secondary source. We have mentioned the
environmental analysis, we have mentioned their expansion strategy,
the seasonal nature of the brand, and the lack of proper online presence,
and failure to cater much to the youth and women sector.
Chapter7 : In the seventh chapters, we have given the recommendation

to the brand that includes that they need to innovate and update their
collection, they need to focus more on women and kids section, expand
the home furnishing segment, promote their new range of sportswear
section, keep their website up to date, improvise their summer
collection.
Page
CH. No Table of Content
No.
1
1.1 Introduction
1.2 Rationale 1-10
1.3 Brand Overview 11-13
1.4 Parent Company 13

1 1.5 History/Milestone/Evolution
13-14
1.6 Vision
14-15
1.7 Mission
15
1.8 USP
1.9 Review of Literature 15-21
2.1 Research Problem Statement 21-25
2.2 Research objectives

26-36
2.2.1 Research objective 1
2 37-45
2.2.2 Research objective 2

Research
Objectives 2.2.3 Research objective 3 46-67
and
Methodology 2.2.4 Research objective 4 67-81
3.1 Environmental Analysis
3.1.1 Pestel Analysis 82-85
85-87
3.1.2 Competitor Analysis
88-89
3.1.3 Product life cycle
90-92
3.1.4 SWOT analysis
3.1.5 Porter -Five force Analysis 92-94

3
3.2 Marketing Analysis
Findings and
Analysis 94-96
3.2.1 Branding
96-99
3.2.2 Segmentation, Targeting & Positioning
99-101
3.2.3 Ansoff Matrix

101-104
3.2.4 BCG Matrix
3.3 Retail Mix Analysis 105-115
115-121
3.4 Consumer Analysis
4 Limitations 122-123
5 Insights 124
6 Conclusions 125-126
7 Recommendations 127
8 References 128-130
Annexures
9.1 questionnaire
9
9.2 balance sheet of Monte Carlo
9.3Graphical interpreations of survey reponses

CHAPTER 1
1.1 Introduction
Monte Carlo Fashions Ltd, launched in 1984 by Oswal Woolen

Mills Ltd, was the flagship company of Nahar group. The launch
was an important step in the evolution of Indian branded
garment industry. Since then, it has been catering to the
ever-growing demands of the Clothing and Fashion
industry.(montecarlo.in,2018)
Monte Carlo has pushed the envelope on high road form. The
items offered under brand Monte Carlo, aside from Woolen
weaved pieces of clothing, incorporate T-Shirts, Shirts, Linen
Shirts, Denim, Trousers, Dresses, Shorts, Tunics, Sportswear and
substantially more for men, ladies and tweens (8-14 years age
gathering). The principle goal of the Company is to confront the
purchasers' desires with steady quality sponsored with R&D
divisions furnished with most recent innovation, a group of
profoundly qualified technocrats and holding fast to opportune
calendars.(retail.economictimes.indiatimes.com,2017)
Monte Carlo currently has 2500 multi brand outlets and 235
exclusive brand showrooms across India.
(retail.economictimes.indiatimes.com,2017)
1.2 Rationale
The reason why we chose the brand MONTE CARLO is because this
brand was one of the most popular brands when we grew up and
during the years it seems to have lost its popularity, and we support our
rationale with the help of primary as well as secondary research.
1
The brand focuses mainly on winter wear which mainly dominates in
the men's collection. It also focuses on kids as well as women wear.
In the past 5 years MONTE CARLO sales have been fluctuating in a

constant range and we prove this with the help of secondary data.
While analyzing the survey conducted by us, we found out that this
brand is mainly worn by the elderly men and the women don't prefer to
buy their clothing items from this brand so often .
Research Design used for the rationale is DESCRIPTIVE technique .
And the Research Method used is Survey and Secondary Data .
Survey:We conducted a primary survey of Indian consumer and these are

the results that we obtained from the 250 responses.
The survey conducted covered all the age groups and below are the
following responses :
2
Most of the people who submitted their response have heard of this
MONTE CARLO i.e. it is well known brand for sure.
From the above graph we can clearly deduct that most of its customers
buy during the winter season, giving us a clear understanding of the
fact that MONTE CARLO mainly focuses and deals in winter wear.
3
As seen above, nearly half the surveyed customers (49.8%) have
purchased from MONTE CARLO “beyond a year”and 38.3% people
purchase only once a year giving us a clear indication that most of the
people are not frequent visitors of the brand.
4
From both these above graphs , we can clearly deduct the following :
 Our survey was taken by Men mostly (56.4%)

 And then the next graph infers that most of the people purchase the
products either for themselves or their father. People rarely purchase
for their wives or mothers.
 HENCE Monte Carlo’s customer base is mainly dominated by the male
population in our country . This helps us understand that the brand
mainly focuses on as well as gets its major portion of revenue from the
men’s collection .
5
From this response of the Indian customer we infer that about 80% of
the clothing items purchased are sweater and pullovers . Clearly
indicating that the Brand has gained it's popularity through it's winter
collection.
Most of the people buy clothing items from the retail shop, this gives us
a clear picture that the online presence of this brand is limited.
6
Most of the Indian consumer who submitted their response for this
survey are not loyal customers of the brand. i.e. Monte Carlo has not
been able to retain it's customers interest at present .
From the above pie chart we can clearly see that most of the Indian
consumer is neutral to their collection and 33.9% consumers don't even
find their collection upto the mark.
7
From this feedback, we determine that the consumers demand
improved designs, new collection, a better variety of products for
women and kids.
Secondary Data
2014-2015:
The Company has conveyed an amazing money related and working

execution for the Financial Year 2014-15 by accomplishing incredible
execution both in best line and main concern with a surprising
development of 16.07% in complete income. The income from activities
remained at `58,257.70 Lakhs when contrasted with `50,310.32 Lakhs in
the earlier year, showing an amazing development of
15.80%.(moneycontrol.com,2018)
2015-2016:
The Company has conveyed a nice Financial and Operating execution for
the Financial Year 2015-16 by accomplishing a development of 6.70% in
the Revenue from Operations which remained at Rs.62,153.05 Lakhs when
8
contrasted with Rs.58,257.70 Lakhs in the earlier year. Our execution amid
the year under survey has been very tasteful, given the generally speaking
languid monetary condition we encountered amid FY2015. We countered
the difficulties by concentrating on persistent development; lifting our
structure varieties; on great buyer experiences and by propelling alluring
new accumulations focused at the adolescent. These activities given us
the essential force to report a better than average conveyance on our best
and main concern.(moneycontrol.com,2018)
2016-2017:
This Financial Year, the Company has a negative development of 6.02%

coming about thereof the income from activities stands lessened to
`58,410.54 Lakhs as against `62,153.05 Lakhs. These untoward
circumstances rose amid the year as a result of two difficulties looked
by the Company in its rhythm of development. Initially, as all of you
know that December, 2015 was per year of low winter and coming
about thereof the stocks stay unsold with the franchisees and in
addition Multi Brand Outlets (MBO). In the typical pattern of our
business this impacts our deals for the quickly succeeding year. In
addition, another hit to the development rate of the Company was felt
on demonetisation in the second from last quarter of money related
year 2016-17, which represents our most extreme deals i.e. roughly
60%. Obviously that demonetization had the unfriendly impact over all
the business and specifically influenced appallingly the shopper and
also retail business. The over two variables came about a blow like an
overwhelming headwinds and along these lines influencing the
Company's best line and main concern.(moneycontrol.com,2018)
2017-2018
Monte Carlo Fashions has revealed an independent aggregate wage

from tasks of Rs 80.93 crore and a net benefit of Rs 6.25 crore for the
quarter finished Jun-2018. (moneycontrol.com,2018)
CONCLUSION:
According to the survey that we conducted of the Indian consumer, we

have established that:
9
 the brand's market is dominant in male sector and that to in the
elder age group (Generation X).
 winter wear contributes a significant portion of it's sales, which
adds to the seasonal nature of their business.
 It has not be able to make a powerful impact in the e-commerce
market , mainly due to its lack of establishment in the youth sector.
 The brand has low “brand loyalty” and the ones who are loyal and
have a liking towards it is to its high market share in cashing brand
name established years back .
 From feedbacks received of Indian consumers , it is crystal clear that
there is lack in variety of trending products (monotonous collection)
and there is demand for increase in women as well as kids section .
From the secondary research we concluded that:
 Monte Carlo hasn’t recorded any remarkable growth in the last 4

years .
 There is consistency in the sale figures of Monte Carlo since 2014 .
 HENCE , we conclude that Monte Carlo is at MATURITY .
1.3 Brand Overview
Monte Carlo Fashions Limited is occupied with assembling of a wide

range of clothing accessories and garments. The Company is associated
with assembling of fashioner woolen/cotton instant clothes under its
MONTE CARLO mark. Its woolen items incorporate sweaters and
10
cardigans. Its cotton sewn articles of clothing incorporate T-Shirts and
Track Suits. Its woven pieces of clothing portfolio incorporates Shirts,
Trousers, Suits, Jackets and Denims. The items offered under brand
Monte Carlo, aside from Woolen sewn articles of clothing, incorporate
Trousers, Bermudas, Lowers, Hi-Street Fashion Shirts, Tops, Dresses,
Jumpsuits, Urban Tunics, Shrugs, Shorts, Capris, Narrow Pants, Leggings,
Track Suits and Solid T-Shirts for men, ladies and tweens (8-14 years)
and home outfitting products. The Company's items achieve the end
client through various channels, including through brand outlets, multi
mark outlets, design outlets and through online Websites. It works
more than 3 assembling offices in Ludhiana, Punjab.(reuters.com,2018)
11
12
Range of Products under the "Monte Carlo" brand:
• Luxuria- premium range for Menswear
• Denim- exclusive range for denim apparel
• Alpha- exclusive range for Womenswear
• Tweens- exclusive range for kidswear
• Cloak & Decker- economy range for Menswear
• Rock-lt- premium range for Sports & Fitness wear
1.4 Parent Company
PARENT COMPANY Nahar Group

Name of the Owner SH. Jawahar Lal Oswal
CATEGORY Apparel
SECTOR Retail & Lifestyle
TAGLINE “It’s the way you make me feel”
1.5 History / Milestone/Evolution
1.5.1 History
The Company was incorporated on July 1, 2008 in Ludhiana, Punjab,

India under the Companies Act 1956 as an open restricted
organization, under the name 'Monte Carlo Fashions Limited' with
the RoC. The Company gotten its authentication for beginning of
business on July 28, 2008. (montecarlo.in,2018)
1.5.2 Milestones
 The brand has gained the ISO 9001: 2000 certifications and has been
felicitated with the prestigious award 'Super brand' for the hosiery
garments by the International Wool Secretariat.
13
 It has also emerged as the No. 1 brand in the men's wear category in
a survey conducted in the summer of 2009 by Images-ORG-MARG.
 In 2014, Monte Carlo was honored as one of ASIA'S BEST
MARKETING BRANDS by World Consulting & Research Corporation
(WCRC).
 In 2014 -Monte Carlo raises Rs 105 crore from anchor investors.
 2015 -Monte Carlo's delivers strong Revenue and EBITDA growth
despite delayed winter -Monte Carlo Fashions Ltd. has informed that
as per the municipal records.(economictimes.com,2018)
1.5.3 Evolution
The launch of Monte Carlo was a critical advance in the development

of marked article of clothing industry in India. From that point
forward it has been taking into account the regularly developing
requests of the Clothing and Fashion industry.Monte Carlo has
pushed the envelope on high road form. The items offered under
brand Monte Carlo separated from Woolen weaved pieces of
clothing incorporate T Shirts Linen Shirts Denim Trousers Dresses
Shorts Tunics Sportswear and substantially more for men ladies and
tweens (8-14 years age gathering).(businessstandard.com,2018)
1.6 Vision
Monte Carlo has a concrete plan to scale their business within a

competitive environment .
 Monte Carlo Fashions, referred to generally as a winter-wear mark, is

looking to expand the item range to be perceived as an
all-season apparel brand and increment impression the nation over.
 Monte Carlo Fashions Ltd. is looking at Rs 1,000 crore in the
following three years as it wagers on development in the south and
west India.Its ability to maintain and enhance the ‘Monte Carlo’
brand
 Its capacity to effectively execute their extension methodology of
fortifying their business arrange by opening new restrictive brand
outlets, in an opportune way or by any means
 Its ability to maintain their market position in the country .
 Its capacity to deal with their tasks at their current size or to deal
with any future development viably.(sebi.gov.in,2018)
14
1.7 Mission
The main mission of Monte Carlo is to create more footprint across the
country.
 The organization is growing their essence in southern and western

districts of India.
 The organization is likewise extending item contributions in home
outfitting and children fragment with the end goal to lessen the
general regularity affect.
 The organization is additionally intending to incorporate new
outlets into our current tasks.
 Source adequate level of stock at worthy expense to address their
issues.
 Identify and fulfill the stock inclinations of geographic territories.
 Train store personnel.(sbicaps.com,2018)
1.8 USP
The brand's USP lies in its predominant quality and incentive for cash
items. Monte Carlo offers an extensive variety of shirts, denims, pants,
shirts, sweat shirts, sweaters, coats, shawls, and track suits. Monte
Carlo's center item contains all the warm climate attire i.e. sweaters,
cardigans, etc. (edelweiss.in,2017)
1.10 Review of Literature

After decades of analysis on company’s failure, there appears to be no
macro improvement within the ability of organizations to survive.
Knowledge from the Bureau of Labor Statistics in 2016 show death rates
across many industries that stay roughly resembling firm births over the
past twenty years. Failures of startups clearly contribute to such grim
news, however long-standing organizations have been disappearing a lot.
(emeraldinsight, 2017, p.n.1)
According to Goodburn (2015), global head for advisory of KPMG: “The
average life span of today’s multinational, Fortune 500-size corporation
is 40 to 50 years. For anyone in leadership at a corporation of any size,
15
that should be a sobering statistic. That means the company you’re
tasked with leading has a 50/50 shot at making it past what we mere
mortals call middle age. A further sobering statistic tells us that almost
50 per cent of the Fortune 500 from 1999 had disappeared from the list
just ten years later” (emeraldinsight, 2017, p.n.1)
After the Introduction and Growth stages, a product passes into the
Maturity stage. The third of the merchandise life cycle stages is quite a
difficult time for makers. Within the initial 2 stages firms attempt to
establish a market and so grow sales of their product to attain as
massive a share of that market as possible. However, throughout the
Maturity stage, the first focus for many firms are going to be maintaining
their market share within the face of variety of various challenges.
(productlifecyclestages.com, 2018)
Most firms get the vision right, however the execution is the exhausting
part, half the firms endeavor transformation fail to attain the required
business result. (emeraldinsight, 2017, p.n.2). Mostly all the unique
constraints appear in a mature industry. Scholars typically portray a
company’s strategy as dynamic, dynamical over time an organization
strives to take care of the fight. Ideally, a firm’s management team
would notice that the external settings was modified and then react. The
contingency theory predicts that a management team can have
interaction in amendment to enhance its position, a capability
documented in analysis from a broad array of strategy fields. They
embrace theory areas like biological process (Siggelkow, 2002), dynamic
capability (Eisenhardt and Martin, 2000) and general strategy fields.
However, although companies might acknowledge the requirement to
vary, they seem to be stymied within the mature stage, rather than
redefining themselves, several companies ride the trade curve, accept
the fate of the mature stage of industries or looking ahead to a severe
crisis before making an attempt to adapt (Bibeault, 1982). First, during a
mature business, the marketplace shifts. New consumers become
tougher to draw in, increasing reliance on repeat consumers and an
ensuant “if it isn't poor, don’t fix it” perspective. the main target on new
product decreases, and corporations progressively contend on service
attributes or economies of scale (Porter, 1980). Second, mature firms in
mature industries face structure factors that build strategic realignment
tougher. These challenges vary from official behaviors to extended
16
decision-making processes. even as amendment is most required, it
becomes most troublesome to realize, resulting in the next failure rate
in mature industries than in growth-stage industries (Agarwal et al.,
2002).
Shifts within the promoting setting for mature-stage companies involve
both competitors and customers. If new entrants arrive, they typically
introduce a distinct segment product, therefore not hoping on scale, in
keeping with Hanner et al. (2015). Forty years earlier, Lyden (1975) set
the stage for the logic behind this pattern. He noted that these new
entrants will be more capable of dealing with flexibility, particularly if
they're young companies, as a result of they usually have less structure
and institutionalization. Whereas a firm vulnerable by a younger rival
might respond with innovations in earlier business stages, reactions in a
very mature business are greatly reduced by structure
inertia.(emeraldinsight, 2017, p.n.14)
In the mature stage, the people United Nations agency helped the firm
achieve previous stages might not comprehend reasons to adapt to new
and infrequently less favorable conditions. Even the foremost versatile
organizations might face drawn-out and comprehensive policies and
procedures, reduced R&D funding and an inward focus. Decision-making
possible has become group-centric (Galbraith, 1982). Perhaps, the most
important challenge is that the internal politics and power instead of on
the market. These factors all limit Associate in Nursing organization’s
ability to spot modification, learn from modification and adapt
(Eisenhardt and Brown, 1997).
When a corporation reaches the maturity stage, the thought that was
simply an inspiration is currently dominating and has stable profits due
to the methods you came up with throughout the four previous stages.
This stage depends on a money supply to assist overcome the
challenges and keep the business au fait its booming record. Though
maturity is that the final business growth stage, it isn’t wherever you
would like your business to remain. corporations that languish within
the maturity stage may still be growing, however in a very sluggish
manner. (gnapartners.com,2018)
Marketing strategies for mature products in a rapidly developing country
17
A considerable collection of writing and research concerning general
speculations of key showcasing has been produced all through the
ongoing decade. An assortment of calculated methodologies have been
examined, experimentally tried, bolstered or censured, and
recommended by an extensive variety of specialists
(marketing strategies for mature products in a rapidly developing
country: a contingency approach)(Lee,1993,P.N.56)
Product life cycle concept

Few marketing concepts have attracted so much attention and provoked
so much debate in the literature as the product life cycle (PLC). The basic
premise of the PLC concept is that the sales of a product go through four
distinctive stages, namely introduction, growth, maturity and decline
(Mullor-Sebastian, 1983; Murray, 1985; Smallwood, 1973)
Every one of these stages is affected by various aggressive conditions

requiring distinctive promoting systems if profit and sales are to be
viably figured it out(Lee,1993,P.N.57)
Marketing strategies for mature products
The whole marketing objective of firms producing mature products is to

increase profit while maintaining the market share over the life of the
product that is left. The research prescribes some strategies for products
that have reached maturity. They are:
1. Modify the features of the product and enhance the quality of the
product
2. Decrease the cost to meet the competitors
3. Bring down the expenses and increase the channel efficiency
4. Attract the potential customers by increasing the advertisements
and promotional activies
These strategies has helped many marketers to step up theie plans for
the products.(Lee,1993,P.N.58)
Reinforcing brands
18
A brand equity should be reinforced over time and the marketers should
make sure that the consumers have desired knowledge structures about
the brand. Bacically, brand equity can be reinforced by various
marketing actions that could convey the information of the brand to the
consumers- brand awareness and image(Keller,1999,P.N.103)
One of the most important thing to consider is to maintain the

consistency of the brand and the support that it gets from its consumers.
Brand consistency is something which is very important to be
maintained in order to maintain the strength and the favourability of the
brand. Brands that lack proper support from the consumers in the
market tend to have the risk of becoming obsolete or it could be a
disadvantage to them. (Keller,1999,P.N.103)
Revitalizing brands
Even the best designed brands can the perfect marketing and
reinforcement strategies may fail. The reason for the failure of even the
best designed brands could be change in the taste and preference of the
consumers, new competition in the market, or any change or
development in the marketing environment. These reasons could affect
the fortunes of the brand. Sometimes, to get back the fortunes of the
brands, they had to “return to their roots” in order to get back on the
track and regain the lost sources. Regaining a brand’s fortune either
refers to recapturing the lost sources of brand equity or that the new
sources of brand equity are very well identified. Either one of the
approaches could be applied in the revival of the brand, but the brand ,
if it has to make a comeback has to make more changes that are
revolutionary than the ones that are evolutionary in order to reinforce
the meaning of the brand. The trick is to understand the what all sources
of brand equity were already there to begin with. It is very important to
characterize the measurements of brand equity and its uniqueness and
favourability of the brand that the consumer already has in mind. The
knowledge and understanding of the brand structure that is desired, it
he framework provides us with the guidance and instructions for
refreshing the old sources or create the new sources to achieve the
desired positioning.(Keller,1999,P.N.110)
Identifying new usage opportunities
19
Sometimes if the brand does not have strong associations, the brand
may be seen useful in only certain places and if the brand has strong
associations, usage is a very critical thing to consider. In order to identify
more opportunities for the consumers to use the products of the brand
more, a well designed marketing program must be designed that
includes the message to the consumers about the advantages of using
the products of the brand more frequently and to remind the consumers
to actually use the products of the brands. Increasing usage of the brand
goes along creating awareness through reminder advertising. Another
opportunity to increase usage is to provide consumers with the better
information as to when the product was introduced and then compare it
with the current situation of the product.(Keller,1999,P.N.113)
Identifying the new ways to use the brand
Another approach to increase frequent use of the products is to

identity and convey to the consumers the new and unique ways to use
the brand.(Kellar,1999,P.N.114)
Improving brand image
Changes in the awareness of the brand is the way to create new sources
of brand equity. A new strategy could be needed to may be needed to
improve the strength and the uniqueness of the brand. Sometimes a
brand needs to be repositioned in order to establish a point of parity to
break even with other brands.
Basically, proper management of the brand requires the analysis of long

term marketing strategies. Any changes needed in the marketing
program may be determined with a long term perspective. Also, a long
term view can enhance the consumer based brand equity and face the
challenges in the marketing environment and internal challenges in a
firm’s goals and aims.
(Keller,1999,P.N.120)
20
CHAPTER 2
2.1 Research Problem statement:
Once a well reputed competitor in the apparel industry, Monte

Carlo, now is struggling in the market because of increasing
competition from similar merchandising selling retailers and shifts
in consumer preferences. Created in 1984, Monte Carlo was
generally known as a winter-wear brand, is looking to expand the
item range to be perceived as an all-season apparel brand and
increment impression the nation over.(edelweiss.in,2017)
The major factors that lead to Monte Carlo’s maturity can be

summarized as :
 Its lack of presence in the Southern & Western regions of India.
 Its high dependence on winter wear sector for revenue
 Stock did not perform over past two years due to macro
challenges
 Competition among the organized players
1. Lack of presence in Southern & Western regions :
21
Currently 46% of the revenue comes from the Nothern region of
India & 30% is generated by the Eastern region . Only a small
portion of revenue I.e. 24% comes from the combined Southern &
Western region.(Economic Times,2017)
Monte Carlo is not a well- known brand in the Southern India since
winters are less severe there . Hence it is will have to build stronger
consumer base by creating brand awareness and new product
offerings. Margins will be effected due to high promotional
expenditure.
“There are challenges in the southern market being a brand which
was known as a woollen wear brand to convince the consumer and
the retailer that we are equally strong in summer wear so there are
challenges and the challenge is I think also in the terms of
awareness about how strong we are in summer, how strong we are
in designing so those challenges we are tackling and we are
understanding this market from last three four years,” .(Jain,2017)
2. Dependence on winter wear leads to high seasonality :

Woolen wear represents 30% of Monte Carlo's clothing income, while
cotton-related winter attire represents another 20%. As most deals
occur from October to December, the third quarter of the year is critical
for Monte Carlo; it acquires half of the yearly income.
22
3. Stock did not perform over past two years due to macro
challenges :
The income development rate for Monte Carlo, about 15%, has stayed
level in the course of recent years.
This was due to the following reasons:
FY16 : The year saw a feeble winter; the attire business likewise
experienced a lull in confronting exceptional rivalry from online business
setups.
FY17: India's demonetisation drive landed in Q3FY17, the quarter that

represents near half of Monte Carlo's yearly income. Additionally, the
MBO channel, benefactor of half of Monte Carlo's income, was the most
exceedingly bad hit as most exchanges are in trade out this channel.
Clothing is by and large an industry with high working influence. The

slide in income in this manner affected Monte Carlo's edges, which were
on an uptrend. This agony was aggravated amid demonetization, as
winter wear is to a great degree regular (utilized just a couple of months
in a year) and stock must be exchanged at huge rebates, which
additionally affected the organization's edges in FY17.
23
4. Competition among the organized players :
The measure of the Indian clothing business sector and its natural long
haul development potential makes it amazingly appealing to marked
players over the world. This has prompted extraordinary arrangement of
rivalry among the composed players to get the biggest offer of the pie.
With an expansion in the quantity of universal brands entering India and
many hoping to enter soon because of loosened up FDI leads in Indian
Textile Sector, the opposition is relied upon to escalate further.
All the main brands i.e Indian and International are going for early
rebates/deals/discounts. The general population are getting use to the
marking down pattern both on the web and disconnected. In such a
situation to keep the walk-ins flawless each brand brings to the table
markdown and no brand can get by without discounts. We expect that
going ahead additionally the marking down deals will proceed in same
24
design or may rise going ahead because of serious rivalry in this
space.(edelweiss.in,2017)
2.1 Research Objectives
Objectives of this research are-
2.1.1 Research Objective 1 : To analyze the marketing strategies of

Monte Carlo
Research Design
The framework used for conducting marketing research project and

analysis is called Research design. It consists of methods required for
obtaining information to solve market research problems.A research
design lays the foundation for conducting the project.
A good research design helps us insure that the marketing research is
conducted efficiently and effectively.
To conduct a successful market research the following components must
be taken care of :
1. Define the information needed
2. Design the exploratory and descriptive phases of the research
3. Specify the measurement and scaling procedures
4. Construct a questionnaire or an appropriate form of data collection
5. Identify the sampling size and the sampling process
6. Develop a plan for data analysis
Research design can be classified into two categories exploratory and

descriptive.
While conducting our research we planned to meet all the

required credentials for developing a research design. There
are two major frameworks of research design which are
exploratory and descriptive research. Exploratory research is
more to do with secondary data whereas descriptive
25
research is to do with primary data. With the help of
secondary data we are able to get a clear insight and certain
understanding of the problem. In this research objective w e
have conducted a study with the help of descriptive
research.(malhotra,2018)
Descriptive research design aims at market characterstics and is

marked by a definite formulation or a specific hypothesis . it
is a strongly pre planned and structured kind off design
format. The reason why we decided to choose this research
design was due to the following advantages:
 Data collection method which falls under descriptive

research is the method which covers most of the
information and can be easily used for developing
hypothesis of our research project.
 As the sample size in a descriptive research is large with

the help of secondary data the information can be
collected quickly and easily.
 Descriptive research helps us form quick basis of decison

making.
(questionpro.com,2018)
Research Methodology
Research Methodology: The various schemes, algorithms and
procedure are called as research methods. They are essentially
planned, scientific and value neutral . Methods can be experimental
studies, theoretical procedures, numerical schemes, statistical
analysis,etc.It is a systematic way to solve a problem .
These can be widely termed as Qualitative and Quantitative

methods .
(Rajasekar,Philominathan & Chinnathambi, 2013)
26
Qualitative analysis : Qualitative research methodology is based on
small samples that helps us understand the problem in depth.
Quantitative analysis : it is a research methodology that seeks to
quantify the data and mainly applies some form of statistical
analysis.
In this study we are doing Qualitative analysis as we are studying
the marketing strategies of the brand Monte Carlo through the
study of Secondary Data in the form of articles, journals and
reports.
Advantages of using Qualitative methodology are :
1. Subject materials can be evaluated with greater deal.
2. Qualitative research can adapt to the quality of information that
is being gathered.
3. Qualitative research data Is based on human observations and
experiences.
4. Gathered data has a predictive quality to it .
5. It is an open ended process.
6. It generates conclusions with more depth and accuracy, which
benefits everyone.(malhotra,2018)
We decided to use Qualitative method in order to get concrete
results for an accurate analysis.
Data Collection :
There are two types of data collection method - primary data and
secondary data.
Primary data is originated by a researcher for the specific purpose
of addressing the problem at hand. Obtaining primary data can be
really expensive and time consuming whereas Secondary data is
already collected for the purpose other than the problem at hand.
Examining secondary data prerequisite to the collection of
primary data.(malhotra,2018)
For this objective we are using Secondary data because of

the following reasons :
27
1.Secondary data is easily accessible.
2.It is relatively inexpensive.
3.It can be quickly obtained.
A Comparison of primary and secondary data
BASIS SECONDARY PRIMARY

COLLECTION For other Problem at
PURPOSE problems hand
COLLECTION Very involved Rapid and
PROCESS easy
COLLECTION COST High Relatively
low
COLLECTION TIME Long Short
(malhotra,2018)
In this objective we have collected secondary data through website
articles & reports.The information obtained from these sources
helped us understand the current and future marketing strategies
of Monte Carlo in depth.(Malhotra,2018)
RESEARCH OBJECTIVE 1: To analyze the marketing strategies of

Monte Carlo.
What is a marketing strategy?

A business plan for reaching out to people and converting them
into potential customers of the product or service is called
MARKETING STARTEGY . (Keller& Kotler,2017)
A company’ s marketing strategy comprises the company’ s value
proposal, key marketing , core customer information and high level
aspects.
28
MARKETING MIX
A company uses a set of actions to promote its brand or product in the
market which altogether forms the marketing mix. The 4 Ps forms the
marketing mix- price, product, promotion, place.
However, several other Ps like packaging, positioning, people, and
politics are also considered as vital mix elements.
WHAT IS THE IMPORTANCE OF THE MARKETING MIX?
All the elements of marketing mix have an influence on each other. They
build up a business plan for a company and if it is handled correctly,
great success can be achieved. A lot of understanding, consultation and
market research is required for marketing mix.(investopedia.com,2018)
PRICE
The value that is set for a product is price. The price is determined
depending on the cost of production, segment targeted, ability of the
market to pay, demand, supply, and some other factors. Pricing
29
strategies can be of different types which is tied with the overall
business plan.
 The prices of products of Monte Carlo varies from item to item. All
articles have a set of different pricing range. The menswear of
Monte Carlo ranges from INR 500 to INR 6000.
 And the womenswear of Monte Carlo ranges from INR 400 to
INR5000
 LUXURIA ranges from INR 6000 to INR 8000
 DENIM ranges from INR2500 to INR 4500
 ALPHA ranges from INR900 to INR 5000
 TWEENS ranges from INR 1500 to INR 3500
 ROCK IT ranges from INR 3000 to INR 5000
 CLOAK AND DECKER ranges from INR 900 to INR 3000
PRODUCT
The item which is to be sold is the product. There must be some
minimum level of performance that a product must deliver otherwise
30
the good performance of the other elements of the marketing mix wont
do any good.
The products of the brand Monte Carlo are categorized into three
sections men, women, tweens, and home furnishing.
 MEN’s collection include T-shirts, denims, t-shirt combos, shirts,
summer lowers, trousers, Bermuda/shorts, socks,
sweater/pullovers, active wear.
 Also, LUXURIA is the premium range of menswear.
 CLOAK AND DECKER is the economy range for menswear.
 WOMEN’s collection includes tops, lowers, denims, lower sets,
t-shirts, tops combo, cardigans, mufflers, socks, shawls, active
wear. ALPHA is the exclusive range for womenswear
 TWEENS’s collection includes tops, sweater, lowers, sets.
 ROCK IT is the premium range for sports and fitness wear
 HOME FURNISHING is also the diversified product line of Monte
Carlo.
PLACE
31
The point of sale is the place. Every industry must make it convenient for
their customers or potential customers for them to access the place of
sale. Mainly, the aim for sale is to find a good distribution place.
Various stores are located in India mainly in the northern and eastern
region. However they have been expanding in the western and southern
region as well.
Some of the places in Delhi where the stores of Monte Carlo are located
are Roop nagar, Janakpuri, Tilak nagar, Karol bagh , Rohini metro walk,
Rajouri garden.
PROMOTION
The activities that are undertaken to make the product known to the
market is promotion. Some of the promotional activities are advertising,
word of mouth, press reports, incentives, etc. it can also include contests
and prizes.
32
Monte Carlo’s way of promoting their products has been very chic in its
own way. They promote with the help of newspapers, magazines,
pamphlets, etc.
For example-
 clothing range with the help advertisements on televisions
 Arjun Rampal and Malika Sharawat were brand ambassadors of
Monte Carlo
33
Marketing Strategies of Monte Carlo
They have always believed that they have successfully positioned

themselves as a lifestyle brand with a well-diversified product
offering and further based their Marketing strategies on this.
 Their main focus is on branding and promotion in order to

further increase the visibility of the " Monte Carlo" brand.
 The Company’s future growth strategy is a combination of
three key elements–branding and promotion to enhance
brand visibility.
 The Companys future growth strategy is to focus additional on
Cotton & Cotton-blended attire occupation to all or any seasons
and enlargement of its retail distribution network.
34
 Whereas they already got a pan-India presence,they want
penetrate within the western and southern regions of India.
(indiainfoline.com,2018)
source:eledweiss.com
 They are continuing with their plan to build a themselves as
leading branded apparel company.They have a comprehensive
range of woollens, cottons, cotton blended, knitted and woven
apparels for all Men, Women and Kids under the umbrella
brand Monte Carlo.(indiainfoline.com,2018)
 Active wear has recently evolved and has high growth potential
because of boom in fitness and health-care sector.Plus the Indian
consumers have now understood that there is difference in
clothing for fitness and routine wear. Therefore,after analyzing the
acceptability of their Fitness and Fashion wear range the products
through e-commerce sites in the name of "ROCK IT", they have
decided to market their new products through many other
distribution channels too.(indiainfoline.com,2018)
 It will also focus on online sales through its own portal as well as
tie-ups with e-commerce portals such as Flipkart, Jabong,
Snapdeal and India Shopping.(indiainfoline.com,2018)
 Monte Carlo hired PUBLICIS India and its creative agency for
handling the work towards the ideation and creation of
35
communication material for all media including print, TV,
outdoor and transport media, radio, digital, brochures, booklets,
in-shop materials, collaterals etc. Monte Carlo has drawn up
some ambitious plans for the Indian market and will look up to
PUBLICIS India to bring its growth ambitions to life via its
communication strategy.(campaign.com,2018)
2.1.2 Research objective 2: To analyze the Consumer Satisfaction

towards Retail Mix Elements.
Research Design
analysis is called Research design. It consists of methods required
for obtaining information to solve market research problems. A
research design lays the foundation for conducting the project. A
good research design helps us insure that the marketing research is
To conduct a successful market research the following components
must be taken care of :
36
4. Construct a questionnaire or an appropriate form of data
collection
5. Identify the sampling size and the sampling process.
6. Develop a plan for data analysis (Malhotra ,2018)
Research design can be classified into two categories exploratory

and descriptive. While conducting our research we planned to meet
all the required credentials for developing a research design. There
are two major frameworks of research design which are exploratory
and descriptive research. Exploratory research is more to do with
secondary data whereas descriptive research is to do with primary
data. With the help of secondary data we are able to get a clear
insight and certain understanding of the problem. In this research
objective we have conducted a study with the help of exploratory
research. (malhotra,2018)
In this objective we have used descriptive research design.
Descriptive research design aims at market characterstics and is
marked by a definite formulation or a specific hypothesis . it
is a strongly pre planned and structured kind off design
format. The reason why we decided to choose this research
design was due to the following advantages:
 Data collection method which falls under descriptive

research is the method which covers most of the
information and can be easily used for developing
hypothesis of our research project.
 As the sample size in a descriptive research is large with

the help of secondary data the information can be
collected quickly and easily.
 Descriptive research helps us form quick basis of decison

making.
(questionpro.com,2018)
37

analysis,etc.It is a systematic way to solve a problem .
methods . (Rajasekar,Philominathan & Chinnathambi, 2013)


analysis. It is a technique used to understand behavior by statistical
measures. It provides researchers and analysts with tools to
examine or anticipate current, future and past events.
For this research objective we are using the quantitative analysis
method as a medium of a research tool. We decided to use this
method because with the help of a questionnaire we will be able to
analyze the current and future decisions of the consumer, and we
will also be able to get an insight to what all parameters are
considered more satisfactory according to the respondents.
The advantages of selecting quantitative analysis is as follows:
➢Quantitative research is easy to measure.
➢The results can be shown easily through objective data.
➢Quantitative results are considered to be more accurate.
➢It is easier to make predictions with the help of quantitative data.
(Malhotra ,2018)
Data Collection :
secondary data.
38
Examining secondary data prerequisite to the collection of primary
data. For this objective we are using primary data as our medium of
research and we conducted primary research with the help of a
questionnaire. A questionnaire is a formalized series of questions
used to obtain information from respondents. A questionnaire
must be able to deliver the adequate message and the questions
that you want to attain from the respondents. The questionnaire
should be presented in such a way that the respondent is uplifted
and encouraged to become involved in the process. Before sending
out the questionnaire one must make sure that their no errors in
the questionnaire. A researcher must use ordinary and
unambiguous words. The researcher must not put forth any biased
questions.
Choosing a questionnaire structure:
Unstructured questions, these are those questions that are open
ended questions that the respondents answer in their own words.
Open ended questions help the respondent to express general
attitudes and opinions that helps the researcher to interpret what
the respondent must be thinking. Unstructured questions are
considered to be helpful in exploratory research.
Structured questions, these are those questions which are
multi-choice based. In multiple choice based question the
researcher gives certain options to the respondent and the
respondent selects from the given options. In our objective we have
conducted the questionnaire with the help of structured questions,
where we gave multiple choice from which the respondent selects
the option.
The reason why we decided to conduct this method was due to the
following advantages:
➢Large number of people can be easily reached.
➢Quantifiable answers can be attained for the research topic.
39
➢They are cost sufficient.
➢A researcher receives speedy results. (Malhotra ,2018)
Sampling technique
Chuck Chakrapani said that “Sampling is the only feasible way to

collect marketing research data in most situations. This inevitably
introduces sampling errors. However, sampling errors are often
only a small part of the total research errors.” (Malhotra,2018)
Determine the sampling frame, this involves a set of directions for

identifying the population which a researcher wants to target. The
next thing that should be done is selecting a sampling technique, is
to determine the target population and then sample size .
(Malhotra ,2018)
Target population :The target population is the collection of
elements that have the required information needed by the
researcher. Target population should be defined in terms of
sampling units, extent,elements and time.(Malhotra,2018)
Sample Size : It refers to the number of elements to be included in

the study. A lot of qualitative & quantitative factors are considered
before deciding the sample size.
Qualitative factors are :
1. The importance of the decision
2. The nature of the research
3. The number of variables
4. The nature of analysis
5. Sample size used in similar studies
6. Incidence rates
7. Completion rates
8. Resource constraints (Malhotra ,2018)
We have used the Snowball sampling technique, which is

non-probability sampling technique in which an initial group of
40
respondents are selected randomly.Then the rest of the
respondents are selected on the basis of referrals or by the
information provided by the initial respondents. This process may
occur in the form of waves by getting referrals from referrals .
The main advantage of snowball technique is to estimate
characteristics which are rare in the population.
Even though probability sampling is used to decide the first set of
respondents , but the final sample is a non-probability
sample.(Malhotra ,2018)
Probability sampling : It is procedure of selecting samples from

within the population which have a fixed probabilistic chance of
being selected.(Malhotra ,2018)
Non-probability sampling : It is a sampling technique that does not
use chance selection process. Instead they rely on the judgement of
the person that is conducting the researcher.(Malhotra ,2018)
To do a consumer analysis we conducted a survey online . The

questionnaire was decided on the basis to analysis all the possible
41
factors of retail mix of our brand-Monte Carlo such as pricing,
quality,promotional activities, assortment , staff service , etc.
This was done in order to understand the customer satisfaction to
the retail mix of Mont Carlo.
The questionnaire is as follows :
42
43
44
2.1.3 Research Objective 3: To identify the Autumn Winter 2018
trends followed by the chosen brand (Using WGSN as a source of
Information)
Research Design
obtaining information to solve market research problems. A research
be taken care of :
45
12. Develop a plan for data analysis

descriptive.

research is to do with primary data. With the help of
secondary data we are able to get a clear insight and certain
understanding of the problem. In this research objective we
have conducted a study with the help of exploratory
research.(Malhotra,2018)
EXPLORATORY RESEARCH DESIGN

To carry out this objective we used exploratory research as
the design to solve the problem. Exploratory research has
helped us to focus on the information on the 2018 autumn
winter trends. Exploratory research has also helped us to
make comparison of the 2018 autumn winter trends with the
merchandise of Monte Carlo Fashion LTD. This research
helped us to find out if Monte Carlo Fashion LTD. is moving
forward with the trends. Under this research design we did
secondary research with the help of some websites. These
46
websites helped us with the secondary research which was
required for this objective and was the base of this research
objective
(wgsn.com)
(montecarlo.com,2018)
RESEARCH METHODOLOGY
analysis, etc. It is a systematic way to solve a problem .

methods .
QUALITATIVE ANALYSIS:
analysis.(Malhota,2018)
study of Secondary Data in the form of articles, journals and reports.
(Malhota,2018)
47
8. Qualitative research can adapt to the quality of information that
is being gathered.
experiences.
10. Gathered data has a predictive quality to it.
benefits everyone.(Malhota,2018)
DATA COLLECTION
secondary data.
primary data.(Malhota,2018)


3.It can be quickly obtained.(Malhota,2018)
48


PROCESS easy

low
(Malhota,2018)
In this objective we have collected secondary data through website

articles & reports.The information obtained from these sources
helped us understand the current and future marketing strategies
of Monte Carlo in depth.(Malhotra,2018)
49
FOLLOWING ARE SOME OF THE AUTUMN WINTER TRENDS OF 2018:
WOMEN:
50
PULL ON SKIRT:IT IS A MUST HAVE FOR GIRLS FOR AUTUMN
WINTER. A SHORT PULL ON SKIRT IS A KEY BOTTOM WEIGHT
OPTION FOR GIRLS.BRANDS PLAY WITH VARIOUS PRINTS FABRICS
FINISHES AND COLOUR UPDATES. THEREFORE THIS STYLE FITS
INTO ANY SEASON THEME.
51
DIFFUSED METALLIC
Metallic finishes are well established elements of the A/W season.
It is perfect for kid’s party wear looks. Classic metal shades of gold,
silver and pewter are subdued as they take on a softened
sensibility.
52
Fluffy coat: A comfortable and stylish outwear for kids. They can
make a transition from day through to party wear in any array of
muted tones
Vintage ditsy floral are tapping into the season’s soft retro
theme. Delicate floral appear in abundance across
collections, along with calm and softened pastel colors.
53
Decorative fraying has evolved to be more purposeful.
The latest techniques are achieved with creative layers
and usage of different yarns, such as white weft yarns.
This is considered to be a sustainable method.
54
Acid wash looks with darker contrast are offered in
a variety of latest trends. The major style is also the
denim on denim look.
Asymmetric and wrap-over details update the miniskirt look.

Miniskirts have always been a major trend and with
changing fashion details have been added to this retro look
55
Statement animal prints update layering basics. Animal
print has taken over most of the stores in the fashion
industry. Natural skin will tend to drive commercial
milege while recolored designs amp up
Checks are a major trend and continue to play out.

Subtle brown shades along with a retro look are
entering this A/W collection.
56
Versatile corduroys prove key for tailoring. Corduroy
reaches the autumn collection, it is a very comfortable
and basic clothing item and tends look extremely classic
and chic for the autumn/winter season
57
Pinstripes have had a major return in this season as a part
of denim accent. Stripes have always been a trend and
now it is taking over globally
58
The major fashion trend has been pants with stripes. The
colors used are mostly red, black and white. This has been
a very fast moving trend.
A key print that has been noted matching sets in vintage

prints In matching sets and pajama suit. These prints
have even taken over in blouses and scarfs.
59
Animal prints have been taking over fashion stores
recently. This autumn recolored skins, monocratic snow
leopard, reptile and zebra prints have been taking over.
60
MEN:
Soft geometric patterns are a major trend for this season, with
fuzzy yarns and brushed looks adding warmth and class to the
entire look.
61
Micro jacquard, micro fair isles and single motif patterns
are new add-ons to men’s apparel along with narrow
bands of Nordic pattern and white adding a little graphic to
the entire look.
Micro pattern continue for men’s wear with wide

grid like formations in waffle and thermal stitches.
62 The color pattern remains subtle and classic.
Classic V-neck has a subtle and neat fit and has basic details
in yarns like wool, cashmere silk and so on, with neutral
shades like blue and camel.
Blocking: the color block trend with simple contrast trims

at the neckline and the sleeves offer a commercial take on
the trend, this is offered in softer colors and yarn options 63
such as grey wool and so on.
Woven looks: monochrome patterns offers a sophisticated
look for the V-neck sweater with contrasting trims and
magnified designs
Heritage checks in subtle browns and they have been

popular for the autumn collection for men and as well as
women.
64
Polo-shirts continue to evolve as a key fashion item. Button
through pieces with a classy feel and block designs have
been turned out to be very trendy.
65
Royal purples styled underneath suiting and outerwear gives
a refined feels and work well with black color palettes
66
Generation Z yellows: the menswear market is embracing
bolder colors rather than their typical darker colors.
Heritage checks underpin a traditional outdoors look.

Perennial outdoor looks return with checks as trucker
jackets and plaid shirt return with dark ground checks
giving a traditional feel.
67
2.1.4 Research Objective 4 : To identify the details of the styles in chosen
category- Men & Women
Research Design

obtaining information to solve market research problems.A research
conducted efficiently and effectively.(Malhota,2018)
be taken care of :
6. Develop a plan for data analysis (Malhota,2018)

descriptive.(Malhota,2018)
research is to do with primary data. Exploratory research is
conducted to go through a problem or a situation to provide
sufficient information and insight to the problem. Exploratory
research is a flexible and versatile method to conduct a research.
With the help of secondary data we are able to get a clear
insight and certain understanding of the problem. In this
research objective we have analyzed the details of styles of
Monte Carlo with the help of exploratory research.
68
analysis,etc.It is a systematic way to solve a
problem .(Malhota,2018)

methods .
analysis.
study of Secondary Data in the form of articles, journals and
reports.
14. Qualitative research can adapt to the quality of information
that is being gathered.
experiences.
16. Gathered data has a predictive quality to it .
benefits everyone.(Malhota,2018)
Data Collection :
69
secondary data.
primary data.(Malhota,2018)


3.It can be quickly obtained.
(Malhota,2018)

PROCESS easy
low
(Malhotra,2018)
In this objective we have collected secondary data through Brands
website - www.montecarlo.in and other shopping portalss.The
70
information obtained from these sources helped us identify &
understand the current styles in detail of both men & women.
R04 : To identify the details of styles in the chosen category - Men

& Women
Current styles in Women’s collection :
71
72
73
74
75
76
Current styles in Men’s collection :
77
78
79
80
Allpicturesarefrom(montecarlo.in,2018)&(jabong.com,2018)
81
CHAPTER 3
3.1 Environmental Analysis
3.1.1 PESTLE ANALYSIS
PESTLE analysis, which is sometimes referred as PEST analysis, is used as

a tool by companies to track the environment they are operating in and
82
how it influences its business and strategic decisions.
(pestleanalysis.com,2018)
The Pestle analysis of Monte Carlo is as follows :
Political: Monte Carlo has been in apparel industry since 34 years and it
has opened over 235 exclusive brand outlets without any political
turmoil . But because the economy temporarily decelerated in the first
half of FY2018 mainly due to demonetization and the introduction of
the Goods and Services Tax (GST) , sales were largely effected and the
prices of the merchandise had to be increased. Foreign Direct
Investment( FDI) regulations and policies have been eased out by the
government of India in Indian Textile Sector , due to which there is a
relaxed entry of international brands in the apparel industry thus
raising the competition for Monte Carlo .
(edelweiss.in,2017)(indiainfoline.com,2018)
Economic: Monte Carlo sales were the worst in quarter four of FY16
and the reason was as they had 60% revenues which comes in the third
quarter and in third quarter, unexpectedly there was announcement for
demonetization and which actually affected the fresh sales. So for one
month they were not able to do sales at all and everything which was
therefore to be sold in fresh in third quarter, actually was sold off in
fourth quarter which definitely is the discount period of the company ,
hence this ate up their margins . (edelweiss.in,2018)
After the introduction of GST prices of raw material for Monte Carlo is
more or less stable. Even the price of cotton slightly came down so that
benefited the company and the woolen prices are also very stable.
Under new tax regime,since most of Monte Carlo’s products are lying in
the range of above Rs 1000 so there has been slight increase in the
prices in MRPs and that we has been passed on to the
customers.(economictimes.indiatimes.com,2017)
Social: The increasing awareness of fashion and purchasing capacity in

small cities(tier 2 & tier 3) has created a huge market for the organized
players of the country like Monte Carlo, to expand their business . Plus
India has the largest youth population which is fashion conscious due to
mass media and social media culture so it is important for brands like
83
Monte Carlo to have social media presence in order to build youth
customer base .(indiainfoline.com,2018)
Source: self clicked
Changing Consumer Behavior is one of the major factor affecting the

business of organized brands since with mass media penetration and
rising disposable income, Indian consumers have become more and
more demanding and aware to changes in fashion and trends. With the
frequently changing consumer profiles, it has become challenging for
retailers to keep up with shifting shopping demands. Therefore, it
has become a challenge for retailers to fulfil their customers with
constant change in preferences.(indiainfoline.com,2018)
Technology : In today’s world advancement of various types of

technologies have literally compelled the associations in retail
segment to incorporate these innovations as a way to increase their
market share. With online - retail segment growing at a rapid pace ,
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Monte Carlo has established an e-commerce presence through its own
website “montecarlo.in”and has collaborated with existing online
shopping portals such as Amazon, Flipkart, Myntra, Jabong, Snapdeal,
Paytm, etc. (indiainfoline.com,2018)
It has created its social media presence also on Instagram & Facebook.
Legal:The Company was incorporated on July 1, 2008 in Ludhiana,

Punjab, India under the Companies Act 1956 as an open restricted
organization, under the name 'Monte Carlo Fashions Limited' with the
RoC. The Company gotten its authentication for beginning of business
on July 28, 2008.
Monte Carlo Fashions ltd had filed a case in district court of Punjab,
against a Ahmedabad based construction company also named Monte
Carlo ltd from going ahead with its initial public offering (IPO) till July
9,2018. In its plea Monte Carlo Fashions argued that it has a
well-recognised trademark 'Monte Carlo' and the listing of another firm
by the same name would lead to a lot of confusion. They had filed
another case last year to stop SKODA from using their name for one of
its variants of its cars.(vccircle.com,2018)
Environmental: Monte Carlo has a Corporate Social Responsibility (CSR)

Policy as approved by its Board on the recommendation of CSR
Committee and is committed to certain CSR initiatives in the fields of
Medical Relief and Research, Environmental Sustainability, Education
and Social Upliftment etc., in collaboration with its Group Companies
through the Implementing Agency i.e Oswal Foundation.
Monte Carlo’s one-third of the sales comes from winter wear sector so
this makes them highly seasonal in nature . Hence weak winters affected
their sales , like in FY16 winters wear sales dipped down due to weak
winter season combined with demonetization
impact .(montecarlo.in,2018)
Monte Carlo has taken a few steps to conserve Energy , such as :
 Technical upgradation and modernization of various machines
 Use of solar energy as an alternative source of energy
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 During the year 2016-17, the Company had made operational a Solar
Plant having capacity of 352 KWP to curb pollution and reducethe
energy cost. Due to this, the Company has managed to save around `
1,176,522/- (163,986 Units of Electricity).
3.1.2 Competitor Analysis (Compare and Contrast the brand with its
competitors)
MONTE
CATEGORY CANTABIL ZODIAC KOUTONS
CARLO
Covers middle, Covers
Target upper middle Covers middle to middle middle class
market and high income high income group income income group
group group
Suits, casual
Sweaters,
wear,
trousers, t Formal wear,
accessories,
shirts, active party wear, Trousers,
trousers,
Product wear, casuals, ultra chinos, casual
chinos,
category accessories, casuals clothing clothes, jeans,
wedding
denims, tops, for men and cargos, shorts
collection,
ethnic, kids, women
ZOD club
home furnishing
wear
235 exclusive
1400 outlets
Number of outlets and 121+ retail
250+ retail outlets national and
stores 2500 multi stores
international
brand outlets
Comparatively Has a very

to its strong online
competitors, it Mainly sells presence, Only sells
Online has a weak through online sells through through
presence online presence, portals online online portals
sells through portals as
online portals well
like myntra,
86
amazon, etc
Tries to
Social media,
Promotion Newspapers, capture the
Magazines, social billboards,
Technique magazines, pvr, audience by
media newspapers,
s social media offering major
magazines
discounts
Diversifying and
launching new Decided to
and better bring back
product lines THE ICONIC
and attempting Is offering major ZODIAC MAN Repositioning
higher sales discounts and to create of the brand
Marketing
from cotton offering schemes brand and giving
strategies brands, and like buy one get awareness, major
seeking one free started discounts
geographical offering high
penetration in discount
west and south offers
India
Covers major
Nationally
Covers mainly metro, mini India and
and
Locations northern region metros, large middle east
internationall
of India cities, and other countries
y
tier II cities
To be India’s best
integrated apparel
company, driven
by research and To open a
Has a concrete
innovation, with a design driven To provide
plan to scale
leadership clothing superior
their business
Vision position across company brand in
within a
products and with in house affordable
competitive
markets, while manufacturin prices
environment
exceeding g excellence
customers and
stakeholder
expectations
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 Be a
knowledge
leader and
To capture
The main innovator
back their
mission of  Optimise use
existing Main focus is
monte carlo is of all
customers to manufacturin
Mission to create more resources
be a better g and
footprints  Become a
design driven distribution
across the process driven
clothing
country organization
company
 Be ethical,
transparent and
responsible
Unique, distinctive Value for

Warm weather and ultra Relaxed look money and
USP
collection comfortable of shirts high on
clothing fashion
3.1.2 Product Life Cycle
PLC has four stages. Each stage has its own characteristics. It determines
the stage that a particular product is in. It basically determines the life
cycle of a product. The stages that a product in the market can be in are:
INTRODUCTION, GROWTH, MATURITY, DECLINE.
(investopedia.com,2018)
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INTRODUCTION STAGE
The introduction stage for any company to launch a new product could
be very expensive. Monte Carlo, launched by the Oswal woollen mills ltd.
It was an extremely significant step in the garment industry in India,
when Monte Carlo was launched. The company in its introduction stage
started catering to the clothing industry. They initially dealt with the
hosiery, cotton and woolen garments for men.
(Economic times)
GROWTH STAGE
In this stage, the company can benefit from the economies, as there is
strong growth in sales and profits. In its growth stage, Monte Carlo come
forward as a leading apparel brand. They decided to expand their
business by diversifying and introducing their cotton knitted t shirts.
The brand was accepted in the market because of its diversified product
range that resulted in high growth rate. During this stage, they also
introduced home furnishing.(investopedia.com,2018)
MATURITY STAGE
In this stage, the company aims to maintain the position that the
product has built in the market. This is the most competitive stage for
the company. Monte Carlo had already expanded their horizon and
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“diversified their business operations” as the chairman of the company
said, Jawahar Lal Oswal. In this stage, the performance of the company
was satisfactory because of the sluggish economic environment in the
year 2015-16. They lacked continuous innovation in this stage, because
of which they were struggling to bring in new collection of their
pullovers, sweaters and winter apparel, which led to their inability to
cater to the youth sector.(investopedia.com,2018)
3.1.3 SWOT Analysis
SWOT ANAYLSIS: SWOT examination is a structure used to assess an

organization's aggressive position by recognizing its strengths,
weaknesses, opportunities and threats. In particular, SWOT examination
is a central appraisal display that estimates what an association can and
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can't do, and its potential chances and dangers. (investopedia.com,
2018)
While utilizing SWOT examination, an association should be reasonable

about its strong and weak focuses. The association needs to keep the
examination particular by maintaining a strategic distance from hazy
areas and investigating in connection to genuine settings.
The following parameters comprise of SWOT analysis:
Strengths refer to the areas where the organization excels the most at,
in comparison to it’s competitors.
Weakness of a company helps one understand that in which categories

the company is lacking and what all requirements need to be taken to
improve and attain more.
Opportunity refers to the external factors that can be utilized by a

company to get an edge of the existing competition.
Threat mainly refers to competition from other firms or any new

innovation which have not been adapted by the company.
(investopedia.com, 2018)
Monte Carlo Fashion Limited is a premium apparel brand concentrated

on product quality and sophisticated style.
Here is the SWOT analysis of the brand:
STRENGTHS:
➢Monte Carlo is a dominant player in the woolen and knitted apparel.
➢ Monte Carlo has a wide and strong retail presence in the northern
regions of India.
➢Monte Carlo is well known for the quality of it’s products.
➢Monte Carlo has exceptional design capabilities.
➢Monte Carlo even has their own in-house manufacturing units.
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➢ Monte Carlo has been able to capture a number of loyal customers
especially in the generation X market segment.
➢Monte Carlo has recently launched their active wear ‘ROCK IT’ to
enter into a related diversified market segment.
WEAKNESS:
➢Monte Carlo falls under the seasonal nature of business.
➢Monte Carlo has not been able to launch new or unique trends.
➢ Monte Carlo has not been going with the trends of the fashion
industry.
➢Monte Carlo does not have a wide variety of cotton apparel.
➢Monte Carlo is not a pan-India phenomena.
OPPORTUNITY:
➢ Monte Carlo is expanding regionally to the southern and western

regions with their cotton apparel range.
➢Monte Carlo has an open window to expand and enhance their online
presence.
➢Monte Carlo has brought in a new creative agency called ‘Publicis’

to work with them.
➢ Monte Carlo is entering the unrelated diversification segment with

their home furnishing product line.
THREATS:
➢Cut-throat competition.
➢Climate conditions.
➢Eased entry of other firms.
➢Eased FDI policies for international brands.
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➢Change in buying behavior of the customers.
➢Change in preferences.
➢Presence of fast fashion brands.
(montecarlo.in,2018)
3.1.5 Porter - Five Force Analysis
Porter’s five forces model analyses five industry forces that help us
determine the level of intense competition in an industry and the
profits.
Basically, the porter model was created to understand and determine
the competitive constraints or forces that affect the industry and its
profits.
These forces are:
1. INDUSTRY RIVALRY
2. THREAT OF SUBSITUTES
3. BARGAINING POWER OF CUSTOMER/BUYER
4. THREAT OF NEW ENTRANTS
5. BARGAINING POWER OF SUPPLIERS
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Source:self
1. INDUSTRY RIVALRY: Industry rivalry of the brand Monte Carlo is

moderate as the few number of competitors that Monte Carlo has
have not been able to strongly present themselves in their
potential market either. The competitors of Monte Carlo are
Cantabil, Zodiac, Koutons, these brands are also struggling in the
market.(economictimes.inidatimes.com,2018)
2. THREAT OF SUBSTITUTES: The threat of substitutes is high for the

brand Monte Carlo, reason being the low cost of substitute
products imported from other countries like Pakistan, Nepal, etc.
that has led to decrease in demand for the products in the
domestic markets. Also, the street market has become the
convenient option that offers products at low cost to the potential
customers of Monte Carlo.(indiamart.com,2018)(sebi.gov.in,2018)
3. BARGAINING POWER OF BUYERS: The bargaining power of buyers

is high as rivals of Monte Carlo exist in the market and the buyers
have full freedom to buy from the other brands that may offer
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similar products with lower prices. Also, the existence of street
market has increased the bargaining power of buyers.
(indiamart.com,2018)
4. THREAT OF NEW ENTRANTS: The threat of new entrants for
Monte Carlo is moderate to high as the FDI rules are flexible in the
India Textile Sector and many international brands are expected
to enter the Indian market, which would be a threat to Monte
Carlo.(sebi.gov.in,2018)
5. BARGAINING POWER OF SUPPLIERS: The bargaining power of

suppliers of Monte Carlo is moderate to high. Monte Carlo
procures the woolen fabrics for manufacturing with OSWAL
WOOLEN MILL LTD. (OWM), which is the flagship company of
Nahar group (Initially, the main focus of OWM was on hosiery and
textile fabrics, and later in 1972, a wool combing unit was set up
for upcoming opportunities) as well as from the international
market. Also, yarn and fabric are purchased from spot market and
third party suppliers. (montecarlo.in,2018)
3.2 Marketing Analysis
3.2.1 Branding
Monte Carlo has undergone a logo change in year 2018. The brand will
feature the new logo in all its communication going forward, including
TV commercials and outdoor advertising.
The new logo is bolder, trendier and means the ethos of the
organization better. It is amazingly identifiable and has been structured
after most extreme arranging and care.
Monte Carlo’s old logo
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In the new logo, the blue foundation and red square shape encasing the
content, has been discarded. The slogan has likewise come nearer to the
brand name - Monte Carlo - which has been given another typography
style. The triangle with the letters 'mc' has been held and given a
dynamic intrigue with the end goal to interface with the mold cognizant
masses and shows a contemporary and current articulation.
Monte Carlo’s new logo
Monica Oswal, executive director, Monte Carlo Fashions, says in a press

release, "We have decided to change the logo after a lot of planning. We
wanted to design it in line with the changing times and with the change
in the patterns of our garments which reflects an international vibe. A
lot of thought and diligence has gone into the new logo. The new logo is
stylish and really speaks for itself and of the quality of our garments.
However, we have decided to retain the tagline which is very catchy,
identifiable and in sync with what we are doing.Together with the
tagline and the new logo, we will be making a far louder statement and
will be able to make Monte Carlo a more preferred brand. We will
initiate a complete 360 degree activity to market the garments with the
new logo." (afaqs.com,2018)
The tag line - “It's the way you make me feel” - has, however, been
retained.(afaqs.com,2018)
3.2.2 Segmentation, Targeting & Positioning
STP of MONTE CARLO
What is STP?
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STP stands for Segmentation, targeting and positioning. Segmentation is
a process of dividing the market into different market segments with
potential customers based on different characteristics.
3.2.2.1 Segmentation
Segmentation is considered to be important as it helps the marketers to
personalize their marketing campaigns. It also helps to reduce the risk of
ineffective marketing campaigns. Marketers also use this process to
prioritize their target audience.
The potential customers can be segmented into different categories
such as:
Demographic: this method is the simplest and widely used by marketers
to get the right population in using their products. It has its own
variables such as age, gender, age, nationality, income, religion and so
on.
Psychographic: under this method the marketers focus on the lifestyle,

interest and opinions of the people.
Behavioral: under this method the aspect of consumer buying behavior

is taken into consideration by the marketers to understand the behavior
of their targeted consumers.
Geographic: under this method the customers are divided according to

their area where they are residing such as city, country, province or rural
area.
Here is the market segmentation of the potential Monte Carlo

customers:
Demographic segmentation:
Gender: women, men, children
Age: 17-60
Income: mostly generated from the middle, upper middle and premium
class.
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Psychographic segmentation: The potential customers who purchase
from Monte Carlo are from the middle, upper middle and premium class
clearly indicating that they are looking for quality under a good price
range and Monte Carlo clearly provides them with these facilities.
Geographic segmentation: The potential customers of Monte Carlo are

mainly situated in north India.
Behavioral segmentation: The potential customer of Monte Carlo lie

mainly in the region of north India where there is a high percentage of
winters rather than other parts of India.
3.2.2.2 Targeting
Once the markets are segmented into different market segments the
next step is to target the segments who have the most footfall of
potential customers. Before targeting a particular a segment an accurate
and effective analysis must be done.
Marketers use different types of marketing strategies such as:
Undifferentiated targeting: this approach views the market segment as
one group with no individual segments, therefore using a single
marketing strategy.
Concentrated targeting: this approach focuses on selecting a particular

market niche on which various marketing strategies are applied.
Multi-segment targeting: this approach is used if the marketers need to

focus on two or more market segments and then they develop different
marketing strategies on them.
Monte Carlo has mostly targeted their customers through their winter
wear collection and mainly in the northern regions of the country. They
have focused on customers who are looking for comfortable and quality
products with sophisticated designs but in their latest presentation they
stated that they are focusing on targeting footprint in the southern and
western regions. At the early stages Monte Carlo was applying
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undifferentiated targeting strategies but as fashion changed and the
industry moved forward they have started using other strategies such as
concentrated targeting by launching their tween and alpha collection for
the kids and women. This helps us pertain an understanding that Monte
Carlo has been branching out their marketing strategies so that they can
build a strong impression in the minds of their existing as well as new
customers.(investopedia.com,2018)
3.2.2.3 Positioning
The final step is positioning, it refers to developing a product and brand

image in the minds of the consumers. It also focuses on improving a
customer’s perception about the experience they will have if the
decide to purchase the product or service of a particular brand. Monte
Carlo is positioned as a winter wear brand with limited and sophisticated
styles in the minds of the consumers. Customers merely purchase
products from retail outlets of Monte Carlo although they have online
presence but most of the customers are unaware about this. Positioning
can be clearly understood with the help of perceptual mapping.
Perceptual mapping means how the products are perceived in the minds
of the consumers and shows these perceptions on a graph, whose axes
are formed with the help of product attributes.(investopedia.com,2018)
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Source: self
3.2.3 Ansoff Matrix
Ansoff matrix also known as Product/Market Expansion Grid is a system

used by various firms to form and analyze strategies for their firm
leading towards growth. Ansoff Matrix comprises of four strategies that
can used by a firm to grow and avoid certain risks. (CFI,2018 )
The four strategies are as follows:
1. Market Penetration: the motive of this strategy is to increase sale of

the current products in the existing markets. It is likely to have good
information on one's competitors and customer wants.
This strategy can be applied by implementing the following:
-decreasing prices to attract customers
-increase promotion
-increase distribution channels
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2. Product Development: the motive is on introducing improvised and
new products to cater in the existing market. This strategy basically
focuses on extensive research and development of the product range.
This strategy can be applied by implementing the following:
-investing in research and development to develop new products.
-merging resources to create new products to meet the wants of the
customers.
-partnership with other firms to acquire their distribution channel
strategies.
3. Market Development: the motive of this strategy is entering new

markets using the existing products. This strategy can be applied by
implementing the following:
-expanding internationally
-expanding regionally
-catering a new market segment
4. Diversification: the motive of this strategy is based on entering new

markets introducing new products.
There are two types of methods that can be used for diversification such
as:
-related diversification
-unrelated diversification
(cfi.com,2018)
With the help of Ansoff Matrix Analysis we were able to analysis the
current situation of Monte Carlo in the Indian market.
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Source:Self
3.2.4 BCG Matrix

BCG MATRIX OF MONTE CARLO FASHION LTD.
Monte Carlo is an Indian clothing brand founded by its parent company

OWM in 1984. It is popular because of its winter apparel products and is
currently operating in India and has more than 2500 MBOs and 235
exclusive outlets in the country. Monte Carlo does not have international
presence. It is currently using marketing strategy for regional expansion.
They decided to expand in the southern region by improvising the cotton
apparel. In the early stages, Monte Carlo was considered a male dominant
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brand, but over the years, it has launched the ALPHA collection for women
and the TWEENS collection for kids. However, all this was possible due to
effective analysis and strong marketing strategies and future plans. BCG
matrix is one of the most effective tools which helps in determining the
company’s position and products portfolio in the market. It deals in two
dimensions- market share and market growth. Below is the detailed BCG
matrix analysis of Monte Carlo Fashion LTD.
(bcgmatrixanalysis.com, 2018)
STARS
Products in this category help in generating sufficient revenue for
companies to be considered as profitable but still have the resources and
opportunity for expansion. Monte Carlo’s star product is the newly
improvised range of cotton apparel. 58.1% of Monte Carlo’s revenue of
INR .534.3 crores attained from the cotton segment. Also, the share of the
cotton segment increased from 48% in the year 2013 to 58% in the year
2017.
(retail.economictimes.indiatimes.com, 2017)
(edelweiss.in,2018)
QUESTION MARK
Products in this category have low profitability in comparison to the star
products and cash cow products. These products have not been able to
capture the market or the potential market segment. The product of Monte
Carlo that comes under this category is the TWEENS collection which
generated 4.78% of revenue in the year 2017-18.
CASH COW
Products in this category are the ones that generate the most cash inflows
in the organization. These products have the high demand in the market
and they build a strong market hold. Mainly, these cash cow products
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source the revenue for the organization. The Monte Carlo product that falls
under this category is the winter and men (LUXURIA) apparel. 28.1% of
revenue was generated from these products.
DOG
Products under this category are constantly under performing and the
investment required by these products is more that the revenue generated.
The products of Monte Carlo that fall under this category are home
furnishing, and the women apparel range (ALPHA). Home furnishing only
generated 9.1% of revenue. We were able to back this up through our
questionnaire.
Basically a major section of Monte Carlo’s revenue is earned through it’s

winter wear products. The Indian woolen market is estimated to be worth
INR 13,000 cr. In which 10% is considered to be organized out which Monte
Carlo has 20% share, which is more than their near competitors.
(edelweiss.in,2018,p.n.6)
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3.3 Retail Mix Analysis
Retail mix
Retail mix elements:
Overview of the product category:
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PRICING OF THE MERCHANDISE: The pricing of the merchandise is
based on the selling price assigned to the merchandise minus the costs
of the merchandise sold. It is basically the amount of profit that a
retailer plans to maintain on a particular form of merchandise. In the
brand Monte Carlo, pricing of the merchandise are as follows:
 LUXURIA: INR6000-8000
 DENIM: INR2500-4500
 ALPHA: INR900-5000
 TWEENS: INR1500-3500
 CLOAK AND DECKER: INR900-3000
 ROCK IT: INR3000-5000
106
Size available: there are a variety of sizes available for the customers of
Monte Carlo starting from S going up to 3XL for women and for men it
ranges from M-4XL
Approach to advertising: ADVERTISING is a part of the promotion. It is
any form of presentation that tells about the product or services. Its
basic purpose is to stimulate the demand and product sales in the
market. The common channels for advertisement are: tv, radio, mail,
internet, billboards, and many more. The advertising activities and
events are planned and executed by the company with the help and
advice of marketing agencies. In the brand Monte Carlo, advertisement
activities are done through some medium like movie theaters, social
media, tv, etc. whenever a new collection is launched, all the outlets in
Delhi promote the collection with the help of the platforms available,
mainly on their website.
source:self
107
VISUAL MERCHANDISING
Visual merchandising is the things that a customer can see inside
and outside the store. Visual merchandising includes displays,
decorations, layout of the signs and layout. The whole purpose of it
is to attract customers so that they come into the store. It is mainly
the practice that develops floor plans, three dimensional displays to
attain their purpose of maximizing sales.
There are some major elements that are important in visual
merchandising:
 Usage of colour catches the eyes of the customers and potential
customers and draws them to the store.
 Focal point refers to the easy view of the merchandise so that the
customer can view the product properly and the display should be
proper.
 Usage of empty spaces wisely is one of the most important
elements of visual merchandising.
 Telling a story about the product by using powerful, and
sales-enabling advantages in order to make the customer buy the
product.
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 Exposing the customers with the maximum amount of
merchandise. A well designed display leaves a great impact on the
customer.
Source:self
109
Source:self
110
Choice of the location: The choice of location has a great impact on the
sale of the store. It makes a great difference if the store is in a
convenient .location. Also ,higher prices are charged in convenient
111
locations. If the business is located in the wrong place of your
demographic with could result in compromising the retail business
future. Location affects a store’s long run strategies. In the case of
Monte Carlo most of the stores are located in the subs of the main
markets. The stores don’t seem to have a physical appearance in any of
the major malls of delhi. The location of the stores of monte Carlo in
Delhi are as follows:
Size of the store: the floor that we visited in Roop Nagar had a floor
space of 850 sq ft, had total 4 cameras and had a single trial room.
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source:Self
ASSORTMENT OF MERCHANDISE
Assortment is the collection of goods that a brand provides to its
potential customers either online or in the retail stores. All the products
in Monte Carlo stores are assorted according to its breadth of product
lines, depth of product variety, consistency of the products and number
of products.
The length of assortment was of medium quality of the Roop Nagar
store, they had a depth in their assortment with a range of different
colors, styles and new trends. Their was an in depth assortment in
various product range such as denim, t-shirts and so on.
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Source:self
114
source:self
Fabrics: when we visited the store in roop nagar we learnt about certain
fabrics that are used by monte carlo such as:
1. Cotton brushed
2. Cotton linen
3. Hosiery-knitted fabric
4. Linen
5. Angora wool
6. Magna wool
7. Cashmere
8. Dry fit
9. Velvet
Service: The assistance of the help provided by the sales staff or the
management of the company about its products or services to its
customers. This can be attained by making people fill out the feedback
forms. Also, customer service includes home delivery of the products
ordered online. In the case of Monte Carlo, according to the feedback
book that they maintain, the customers seemed satisfied with the their
115
purchase and with the level of customer service they provided.
According to the feedback of the customers they staff was very friendly
and helpful.
3.4 Consumer Analysis
From our questionnaire we have been able to come to certain

conclusions with the help of various statistics tests that we conducted.
Statistics deals with data collection, interpretation of data, analysis.
Basic statistics used in businesses includes calculation of mean, median,
mode, correlation. With the help of various tests that are conducted
under statistics it becomes very convenient for a researcher to reach
certain conclusions about a business. Researchers tend to use these
techniques mainly for the following reasons:
116
 It eases performance in management and helps in accurate
evaluation.
 It helps in comparison between variables.
 It eases data collection and analysis.
 It helps in anticipating future events.
 It helps a business to understand about its performance which
helps them to set long term goals.
In this objective with the help of the responses that we obtained from
the questionnaire we did Spearman correlation, Pearson and chi square
tests. Spearman correlation test is conducted to measure the degree of
association between two or more variables. It helps measure the
strength and direction between two variables. Spearman correlation is
conducted on ordinal data which is in the form of likert scale. It is ranked
from most likely to least likely. Pearson correlation also helps us analyze
between two variables but it is mainly done on continuous variables. Chi
square is mainly conducted to evaluate tests of independence while
using bivariate table. It represents the simultaneous distribution of two
categorical variables, for example gender.
To carry out this particular objective we conducted the tests above and
we were able to analyze the relationship between the two variables.
Below are a few analysis:
10. From the responses that we obtained from our questionnaire we
were able to get some insight and we were able to use Spearman and
Pearson correlation on the chosen two variables with the help of
bivariate data, in the first case we did a test on level of satisfaction of
the consumer and willingness to purchase again. From the output below
we conclude that the variables are inter-dependent variables and they
are strongly correlated. Any change in one of the variables will affect the
result of the other variable.
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11. The second set of variables that we decided to do the test upon are
willingness to purchase again and winter products. From the output
obtained we conclude that there is a strong relationship between both
the variables and customers are willing to purchase the winter products
again mainly because Monte Carlo is well known for it’s winter products
and the quality of the products is preferred by most of the customers.
12. The third set of variables upon which we conducted Spearman and
Pearson correlation are, level of satisfaction and winter products. From
the output obtained we conclude there is a strong relationship between
the two variables. With the help of this data we are able to get a clear
insight that the most well-known and satisfactory products of Monte
Carlo are from their winter apparel line.
13. The fourth set of variables upon which we conducted Spearman and
Pearson correlation are, quality of the products and the purchase power
of the customers. From the output obtained we conclude that there is a
strong relationship between the two variables this shows a strong
relationship between both the variables. From this data we get an
insight that there is a relationship between the quality of a product and
the purchase again quality.
118
14. The fifth set of variables upon which we conducted Spearman and
Pearson correlation are, quality and recommendation of the brand to
others. From the output obtained from the bivariate data of the two
variables we come to a conclusion that there is a strong relationship
between both the variables. As the quality of the products of Monte
Carlo was considered good by most of the respondents they are willing
to recommend this brand further to other people, this can be very
beneficial for a brand.
15. The sixth set of variables upon which we conducted Spearman and
Pearson correlation are, responsiveness of the staff and knowledge of
the staff. From the data that we obtained from these tests showed us
that is a strong relation between these variables because as we know a
service staff will only be responsive to the customers if they have
enough knowledge about the brand and the products available in the
store. Therefore, a strong relationship between these two variable is
considered good.
119
16. The seventh set of variables upon which we conducted the test are,
ambience of a store and the satisfaction level. As there is a relationship
between these two variables we can say that the ambience of a store
can create a pleasant experience for a customer which can create a
remarkable experience for the customer and this can tend the customer
to return or in some cases even purchase from the brand.
We were able to get a better insight and understanding for our analysis
with the help of these graphs:
17. In the above graph on the y axis we show the availability of size and
the x axis we show the gender where 1 stands for female and 2 stands
for male. From this graph we are able to interpret that the females are
very satisfied with the availability of product range according to the
likert scale that we provided in the questionnaire and majority of the
male tended to be satisfied with the size availability.
120
18. In the above graph on the y axis we show the level of satisfaction
and the x axis we show the range of winter products. In the
questionnaire we provided a likert scale where the rankings were from 1
to 5, 1 being the least and 5 being the most. From this graph, we can
interpret that most of the respondents prefer to purchase winter
products because they tend to be more satisfied with the winter apparel
range of the brand Monte Carlo rather than the other product lines of
Monte Carlo.
10 .In the questionnaire that we had given out to the respondents we

had put forth a question about for whom do you purchase from Monte
Carlo. Most of the respondents preferred buying for themselves and
their father. Our questionnaire was mainly filled by the male segment
121
which consisted of 51.5% and we were able to get an insight that most
of the people purchasing the products are from the male sector. This
helps us to prove our point that Monte Carlo is mainly a male dominant
brand.
Chapter 4
Limitations
Despite of all the hard work done by our group to successfully complete
the research project without any major limitations,they are bound to
happen, and this research project is not an exception.
The objective of our research, i.e., “to study brand Monte Carlo at its
maturity” is a huge subject, covering all the aspects of the competitive
brands in general and Monte Carlo in specific. Vastness of the objective
of research problem is the main reason of the limitations faced.
Secondly India being a vast country , made it difficult for us to study all
the geographical , demographical coverage of Monte Carlo.
122
Some of the major limitations of this study can be grouped in to two
categories as mentioned below:
Limitation pertaining to secondary research:
1. The information gathered from the dependable and validated sources

were not very specific and this has prompted us in making reasonable
suppositions, which may not be 100% substantial.
2. Specific secondary data for all the parts of India in some cases was not
available and therefore study was restricted to available data.
Limitation pertaining to primary research:
 Though there were many advantages of conducting a survey like the

cost, time, and effort but still there are certain limitations
 the selected sample may not represent the entire population

completely.
 There might be biases, judgment errors, sampling errors, etc. while

conducting sample surveys.
 Responses may not be 100% accurate.
A human error is another important source of limitation for any

research study like this. Even after repetitive editions, scrutinizing,
critical evaluation of the subject matter, error might have happened and
hence may limit the study to that extent.
Research was limited to Delhi only , as it was difficult for us to go and

analyse rest of the regions of the country .
123
CHAPTER 5
Insights
In this part we will discuss about the information and discoveries
about the brand with primary, secondary data, personal
observation, personal findings, cooperation with the staff,
beginning from the which procedure led to Maturity of the brand
and its revival strategy. It likewise incorporates our perception that
of why it lacking behind compared to its competition.
124
From our observation and Primary Research- We knew that the
brand is at maturity and has good scope to revive itself and build a
stronger customer base in the country.This was proved after the
survey conducted by us and visiting its stores in Delhi.. The graphs
of the survey showed that only people in the age bracket of 35 and
above were actually purchasing from the brand and they were also
less likely to purchase again .
Even the graphs prove that it is a male dominated brand and mostly
their winter collection generates their sale revenue.
Chapter 6
Conclusion
Monte Carlo is a well know India brand that has been in apparel industry
for 34 years.They are know for winter wear segment. Its one-third of the
sales comes from woollen wear sales. As winter wear is a seasonal
business, the company diversified into the cotton wear segment.
125
Over the years , Monte Carlo has faced many challenges and has
successfully overcome them . It expanded their market segments into
women wear (alpha), kids wear(tweens), sports & fitness wear(rock it) ,
home furnishing, etc.
We are summarizing the conclusion into two parts :
1. Primary data conclusion
2. Secondary data conclusion
According to the primary research that we conducted of the Indian

consumer, we have established that
 It is a male dominated brand ; from the responses we collected

through the survey conducted , it was evident that men
purchase more from the brand than women.
 It is highly seasonal in nature; responses were clear that people
were likely to buy winter wear from the brand than their
summer collection.
 Quality wise it was highly rated
 Service of the staff was averagely rated showing that people
were not really pleased by their retail staff service.
 The brand’s customer base is mainly of the Generation X (elder
age group) hence it shows that it has been unable to build a
stronger customer base with our country’s large youth
population.
 The pricing of the brand was moderately rated ; it means that
people are overall satisfied with its prices.
From the secondary research we conclude that-
 From the financial reports analyzed, it is clear that Monte Carlo

has not shown any remarkable growth in the last 4 years .
 MRPs have increased after GST ; and its burden has been passed
on to the customers
 Demonetization hugely affected the sales of the brand in Q3
&Q4 of FY16.
126
 It is expanding its presence in southern and western regions by
introducing and building their cotton wear collection.
 They grabbed the opportunity of increasing awareness among
our country about the importance of active wear by starting
their own sports and fitness wear collection- Rock it.
CHAPTER 7
127
RECCOMENDATIONS
Even though Monte Carlo is a well established brand , but it still is

lagging being on certain points to increase its future sales and build a
stronger customer base across pan-India .
Through our observations we have the following recommendations for

the brand :
1. It needs to innovate their collection and keep up with the on going

trends to attract more customers , specially the large youth
population of our country .
2. They need to focus more on their women & kids section. The
collection available is not up to the mark to compete with their
competitors.
3. It needs to expand their home furnishing collection since mainly

three products are available - mink blankets,quilts & quilts.
4. They need to focus more on promoting their home furnishing and

fitness & sportswear section on platforms like tv ads, social media,
newspaper, radio , billboards, etc. Since a very few portion of the
population is actually aware of these segments of Monte Carlo.
5. E-commerce retailing is growing at a rapid pace so Monte Carlo

should pay more attention on their own website -
www.montecarlo.in . Their own website shows only a limited
collection and it is not very attractive compared to the
competitor’s website.
6. Even though they are promoting their summer cotton apparel

collection , but to shift from the identity of a winter wear brand to an
all season apparel brand , they really need to analyze the summer
collection prevailing in the market and improvise them in their own
summer collections .
128
REFERENCES
 Economictimes.indiatimes.com. (2018). Monte Carlo Fashions
Directors Report | Monte Carlo Fashions Director Details - The
Economic Times. [online] Available at:
https://economictimes.indiatimes.com/monte-carlo-fashions-ltd/dir
ectorsreport/companyid-58299.cms [Accessed 11 Oct. 2018].
 Standard, B. (2018). Monte Carlo Fashions Company History -
Business Standard News | Page 1. [online] Business-standard.com.
Available at:
https://www.business-standard.com/company/monte-carlo-fas-648
24/information/company-history [Accessed 5 Nov. 2018].
 Edelweiss.in. (2018). [online] Available at:
https://www.edelweiss.in/cas/report/Tactical-Buy-Monte-Carlo-Fash
ions-Ltd.pdf [Accessed 18 Oct. 2018].
 Apparel Resources. (2018). Zodiac Clothing Company gets GOLD
Certification | Sustainability News India. [online] Available at:
https://apparelresources.com/business-news/sustainability/zodiac-cl
othing-company-gets-gold-certification/ [Accessed 16 Oct. 2018].
 Indiainfoline.com. (2018). Check out the Monte carlo fashions ltd
Management Discussions | Live stock/Share Prices at
www.indiainfoline.com. [online] Available at:
https://www.indiainfoline.com/company/monte-carlo-fashions-ltd/
management-discussions/64824 [Accessed 10 Nov. 2018].
 Corporate Finance Institute. (2018). Ansoff Matrix - Overview,
Strategies and Practical Examples. [online] Available at:
https://corporatefinanceinstitute.com/resources/knowledge/strateg
y/ansoff-matrix/ [Accessed 15 Oct. 2018].
 Yiga, P. and Yiga, P. (2018). The Advantages Of Statistics In Business |
YOSAKI. [online] Yosaki.com. Available at:
https://www.yosaki.com/the-advantages-of-statistics-in-business/
[Accessed 4 Nov. 2018].
 Publicis.in. (2018). Publicis India | Home India. [online] Available at:
http://www.publicis.in [Accessed 14 Nov. 2018].
129
 Editorial, R. (2018). Company Profile for
${Instrument_CompanyName}. [online] IN. Available at:
https://in.reuters.com/finance/stocks/company-profile/MOCF.NS

Chairman Speech | Latest speech by Chairman of Monte Carlo
Fashions - The Economic Times. [online] Available at:
https://economictimes.indiatimes.com/monte-carlo-fashions-ltd/cha
irmanspeech/companyid-58299.cms [Accessed 17 Nov. 2018].

Chairman Speech | Latest speech by Chairman of Monte Carlo
Fashions - The Economic Times. [online] Available at:
https://economictimes.indiatimes.com/monte-carlo-fashions-ltd/cha
irmanspeech/companyid-58299.cms [Accessed 14 Nov. 2018].



130
 The Balance Small Business. (2018). 5 Most Important Elements of
Visual Merchandising. [online] Available at:
https://www.thebalancesmb.com/the-5-most-important-elements-o
f-visual-merchandising-2890501 [Accessed 18 Nov. 2018].
 Montecarlo.in. (2018). About - Monte Carlo. [online] Available at:

https://www.montecarlo.in/pages/about-us [Accessed 14 Nov.
2018].
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INTEGRATED PROJECT

MONTE CARLO FASHION LTD.

We would like to express our special gratitude and thanks to industry

We hereby declare that the project work entitled “research

NAME OF THE STUDENTS- Sign

Chapter 4: In chapter four, we mentioned the limitations that we faced

Chapter5 : In chapter five, we mentioned the insights, the in depth

Chapter 6: In chapter six, we have divided our conclusion in two

Chapter7 : In the seventh chapters, we have given the recommendation

1.3 Brand Overview 11-13

1.4 Parent Company 13

2.1 Research Problem Statement 21-25

2.2 Research objectives

2.2.2 Research objective 2

3.1.1 Pestel Analysis 82-85

3.1.5 Porter -Five force Analysis 92-94

3.2.3 Ansoff Matrix

3.2.4 BCG Matrix

3.3 Retail Mix Analysis 105-115

9.3Graphical interpreations of survey reponses

Monte Carlo Fashions Ltd, launched in 1984 by Oswal Woolen

In the past 5 years MONTE CARLO sales have been fluctuating in a

Research Design used for the rationale is DESCRIPTIVE technique .

And the Research Method used is Survey and Secondary Data .

Survey:We conducted a primary survey of Indian consumer and these are

 Our survey was taken by Men mostly (56.4%)

The Company has conveyed an amazing money related and working

This Financial Year, the Company has a negative development of 6.02%

Monte Carlo Fashions has revealed an independent aggregate wage

According to the survey that we conducted of the Indian consumer, we

elder age group (Generation X).

 winter wear contributes a significant portion of it's sales, which

adds to the seasonal nature of their business.

 It has not be able to make a powerful impact in the e-commerce

market , mainly due to its lack of establishment in the youth sector.

have a liking towards it is to its high market share in cashing brand

name established years back .

 From feedbacks received of Indian consumers , it is crystal clear that

there is lack in variety of trending products (monotonous collection)

and there is demand for increase in women as well as kids section .

From the secondary research we concluded that:

 Monte Carlo hasn’t recorded any remarkable growth in the last 4

1.3 Brand Overview

Monte Carlo Fashions Limited is occupied with assembling of a wide

1.4 Parent Company

PARENT COMPANY Nahar Group

1.5 History / Milestone/Evolution

The Company was incorporated on July 1, 2008 in Ludhiana, Punjab,

The launch of Monte Carlo was a critical advance in the development

Monte Carlo has a concrete plan to scale their business within a

 Monte Carlo Fashions, referred to generally as a winter-wear mark, is

 The organization is growing their essence in southern and western

1.10 Review of Literature

Marketing strategies for mature products in a rapidly developing country

Product life cycle concept

Every one of these stages is affected by various aggressive conditions

Marketing strategies for mature products

The whole marketing objective of firms producing mature products is to

One of the most important thing to consider is to maintain the

Identifying new usage opportunities

Identifying the new ways to use the brand

Another approach to increase frequent use of the products is to