Otobi Furniture: Combination of Office and Furniture Essay Sample

9 September 2017

Gross saless volume: Otobi Furniture has an incredible gross revenues sum in the chance of Bangladesh. They have asales volume of Tk. 30 crore per month that means. they have a gross revenues of about three hundred andforty crore taka per month which is bigger than any other furniture company of Bangladesh. Among the gross revenues after subtracting all the disbursals they have about 20 % net income per twelvemonth. Thatmeans they have a net income of Tk. 92 crore per twelvemonth which is incredible in the chance of Bangladesh. Not merely as they are be aftering to increase the concern in Bangladesh and outsideBangladesh we expect that the sum will be bigger in the hereafter.

Rival: The competition in the furniture market is increasing twenty-four hours by twenty-four hours as so many new houses are coming in the market. As a consequence.

Otobi Furniture is confronting a immense competition now a twenty-four hours. Their chief rivals are.

2. Navana Furniture

3. Partex

4. Studio 45

4. Hatil

5. Tanin

6. Bequest

Swot:
Strength:
1. Strong national trade name image

2. High quality merchandises and services

3. High quality client support

4. Average monetary value but merchandise public presentation high

5. Industry leader in furniture¶s in Bangladesh

6. Top category and stylish furniture supplier

7. Becoming a planetary company and trade name

8. Achieving dual gross revenues growing for the last three old ages

Failing:

1. The monetary value is high for most of the clients

2. The atom boards doesnt last for long clip ( Most of the furnitures of Otobi aremade with atom boards )

3. Most of the people fear the atom boards

4. It doesnt have sufficient shops in Dhaka and in the state

Opportunities:

1. Otobi can increase its shop figure and market portion and therefore net incomes

2. Otobi can increase its merchandise lines

3. Otobi can be an international trade name by exporting its merchandises in more states to spread out more sharply into new section of the market and introduce newfurnitures
4. Otobi should do more solid wood merchandises

5. Continue planetary enlargement ± particularly in the emerging markets e. g. China and Indiawhere population and demand is speed uping.

Menaces:
? . More rivals are coming twenty-four hours by twenty-four hours. Ex. Partex. Hatil. High Fasion etc.

?Sometimes rivals are presenting new merchandises than Otobi

?Chinese furniture¶s are going popular for there manner. monetary value and quality

?People still believe in solid wood merchandises.

Brand equity of Otobi:

The trade name equity of Otobi furnitures is really good. They are the market leader for last 14 old ages. They have the biggest trade name image in our state. They have already earned the first topographic point in theoffice furniture. That is why now a twenty-four hours corporate office means. furniture from Otobi. Almosteveryone knows about Otobi furnitures. They provide stylish and elegant furnitures.

Brand consciousness of Otobi:
The trade name consciousness of Otobi furniture’s is really good. Peoples can easy acknowledge the Otobi trade name and they besides can easy remember the public presentation of Otobi. When the urban people wants to purchase furniture they think about the Otobi furnitures. They keep the Otobi furniture’s in their considerations and they try to purchase the Otobi furnitures. Brand image of Otobi:

Otobi has positive trade name image among its clients. Customers think that Otobi furniture’s are stylish and long lasting.
Otobi furniture’s have become the symbol of position. Customers besides buy Otobi merchandises because they provide guarantee and a really good after gross revenues service. They care about there clients

Decision
In a market where merchandises are similar. stigmatization can hold a big consequence on the monetary value that clients will pay. Trade names hence add value to a basic merchandise or service by enabling the merchandise or service to command a higher monetary value. or higher market portion than an unbranded equivalent. Brand equity helps a merchandise to remain in front in the market. Brand equity helps a merchandise to hold a positive image on clients mind. Customers will purchase that merchandise which has higher trade name equity and higher trade name cognition. Brand equity helps to alter the market portion. net income borders. consumer acknowledgment of Sons and other ocular elements. trade name linguistic communication associations made by consumers. consumers’ perceptual experiences of quality and other relevant trade name values. Trade names with high degrees of consciousness and strong. favourable and alone associations are high equity trade names. The more trade name equity a merchandise has the more powerful would be the trade name. That is why everyone says that trade name equity is the ultimate finish of a trade name.

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