About the market: POP market is fragmented and the size of the market is directly proportional to spending power of the people their life style and the growth rate of real estate industry. Delhi NCR is a big market of POP as the earning and spending both are vey high in this city. Huge amount of construction work is going around in the region and again which is luring people in the entire country to come and settle here. POP is used in the construction for decorative purpose out of which false ceiling and office partitions are used a lot.
For covering 1000 sq. ft. of area with false ceiling it requires around 1 ton of POP. Now a days house is a dream for every person and they want to make it a dream home and spend a lot of amount on decoration so the size of the POP market is self evident is growing. There are many player in this market and the market of Delhi NCR is dominated by few players.
Delhi market leader is Shri ram nirman and NCR market is captured by Sakarni. There is another player in this market with the name superfine which is a local POP packed in old cement bags.
Its available everywhere and sold everywhere. It has its market hold in Delhi and NCR. Objective of the study: Objective of the study of POP market is to find out existing market, scope of the market growth, opportunities in this market. Finding: The market is fragmented but distribution is nicely done and its available every where. Major market in Delhi is captured by Shri Ram Nirmana and Superfine. In NCR region Sakarni has a dominating market. In NCR most of the dealers are giving free transport. Promotion is not done for this product.
Very few dealers keep more than 2-3 brands. Packaging of products available in the market is not attractive. Market is big and also growing. SWOT analysis: Strength: Strength is the size of the market and demand for the product and the growth rate of economy. By 2020 Indian economy will overpower European Economy. (http://www. expressindia. com/news/fullstory. php? newsid=40781) Weakness: The product is not very well know to the buyer. The market is fragmented and the margins are not very lucrative. Opportunity:
As there are many players in the industry but very few names are know in the market. The product is not promoted effectively. So if some low cost promotion strategy can be implemented then the product is going to hit the market hard. Another place of opportunity is replacement of superfine. Superfine is every where in Delhi and NCR and the demand of superfine is equal to that of the leading brands. There are population who are buying superfine and there is another set of population who is buying expensive brands like sakarni and shriram nirman.
The market for the middle segment is vey less. All the commercial property and new delveloping areas and colony are opportunity sector for POP industry were the construction industry is booming. Eg. Near Delhi NCR we have areas like bahadurgarh and Rewari, Narela, Sonipat. Near Bombay its Khandala, lonavla etc. Threat: The treat to this industry is economic slumps which causes the conversion of spending into saving and recession causes the lower growth of real estate.
The world has just moved out of the global recession and currently the global economy is doing well. Its again a good time to enter in this industry. Conclusion: The POP market is good industry to enter but in the right direction. Like Gujarat is not using any branded product of POP so it can area of research and can be good market to invest. Similarly right place need to be identified to launch the product with the right marketing strategy. Gaining major market share should be goal which is achievable with proper marketing strategies.
Cite this Prospective Market of Plaster of Paris in Delhi and Ncr
Prospective Market of Plaster of Paris in Delhi and Ncr. (2017, Jul 20). Retrieved from https://graduateway.com/prospective-market-of-plaster-of-paris-in-delhi-and-ncr-34069/