How Business Consultancies can help in marketing the household handicrafts? - PowerPoint PPT Presentation

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How Business Consultancies can help in marketing the household handicrafts?

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The handicraft industry- Handicrafts industry is one of the important segments of decentralized sector in India. Major parts of industry operate in rural and semi urban areas throughout the country and has potential Indian and International market with around 67000 exporters to tap the market. According to the national census of handicrafts, undertaken by the National Council for Applied Economic Research the value of handicrafts produced last year were of Rs.26,213 Crore. (BBGV16720) – PowerPoint PPT presentation

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Date added: 15 July 2020
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Title: How Business Consultancies can help in marketing the household handicrafts?


1
How Business Consultancies can help in marketing
the household handicrafts?
2
  • The handicraft industry-
  • Handicrafts industry is one of the important
    segments of decentralized sector in India. Major
    parts of industry operate in rural and semi urban
    areas throughout the country and has potential
    Indian and International market with around 67000
    exporters to tap the market. According to the
    national census of handicrafts, undertaken by the
    National Council for Applied Economic Research
    the value of handicrafts produced last year were
    of Rs.26,213 Crore. (BBGV16720)
  • This Industry provides huge employment
    opportunities to artisans that include women and
    people belonging to backward and weaker society.
    This is one of the major sources of income there.
    The Indian Handicraft Industry is a 100 billion
    industry worldwide. Indias contribution in world
    market is 1.2. The total exports of crafts
    items - Rs. 13412.92 Crore. Industrys share in
    India's exports - 1.51
  • Export of handicrafts-
  • Handicrafts is a labour-intensive sector with
    high potential of employment for poorer section
    of the society in rural areas. It is economically
    important because of low capital investment, high
    value addition and negligible import content and
    high potential for export earnings. The emergence
    of handicrafts sector, as one of the sources of
    foreign exchange earnings for the country, is
    evident from the data of exports of all India's
    handicrafts from India.
  • (In USD million)  

3
  • Challenges faced by handicraft artisans-
  • Market trend of handicraft products is
    decreasing.
  • Higher demands are placed by foreign customers
    rather than domestic customers
  • Opportunities for exporting are very low as they
    dont receive any help from the government in
    exporting handicrafts products.
  • In domestic markets, tourist destinations create
    more demand compared to other areas like local
    markets, temples and festivals. After tourism
    sector, temples and festivals create more
    demands.
  • Quality of products has undergone distinguishable
    change.
  • New comers use machines and modern technologies
    for production due to lack of proper knowledge
    and experience. Senior craftsmen use traditional
    technologies hence creating higher quality
    products
  • Social media play a vital role on handicraft
    product promotions.
  • Now online marketing and stores support
    handicraft product sales, but compared to other
    products, the role of digital marketing is very
    low
  • In spite of having diversified products, some
    part of Indian market are still untapped and
    market is price sensitive.
  • Products are high priced in big and metro cities,
    which are beyond, reach of people belonging
    middle and lower middle class.
  • Craft producers have to compete on price, quality
    and delivery for different segments.

4
  • There is poor promotion for craft products in
    national market.
  • There is lack of awareness about new traditions
    and among craftsmen and there is need of
    technological support and training.
  • Impact of covid-19 on handicraft industry-
  • As per an initial estimate by the Export
    Promotion Council for Handicrafts (EPCH) the
    handicraft sector could suffer a loss of
    ?8000-?10,000 crores due to the pandemic.
    According to the 2019-20 National Census of
    Handloom Weavers. there are over 31.44 lakh
    households engaged in weaving and allied
    activities These local artisans are not visible
    like migrant workers. They are being neglected
    and their livelihood is in danger. Most of the
    artisans come from rural India and work in an
    informal and precarious setup. They honour their
    traditions and culture they create masterpieces
    that are exported over the world. Yet, their
    wages come nowhere close to the income that can
    provide them with social security.

5
  • How consultancy can help in this situation?
  • Due to Covid-19 many of the businesses are
    suffering and this is no different for Handcraft
    sector. Handcraft business mostly work at tourism
    spots or places. But amid the lockdown the
    tourism places are closed which has led to
    decrease in revenue flow. So, the question is how
    can a consultancy help the handicraft sector? The
    answer is by acting as platform provider where
    all your products will be marketed. A
    cost-effective marketing can be done through
    prospect marketing. A prospect is someone who has
    a need, desire and/or interest in what you offer.
    By prospect marketing handicraft businesses can
    reach prospects efficiently, which in turn leads
    to increased customer base, brand awareness and
    reduced marketing cost which leads to increased
    revenue, demand, and innovation. Some of the
    online strategies/tools are used to reach
    prospects are-Email marketing, Google Ads, social
    media marketing like Facebook, LinkedIn which
    provides custom filter.
  • Contact Us
  • Address Unit No.450, Mastermind One - IT Park,
    Royal Palms, Aarey Colony, Goregaon (E), Mumbai,
    India 400065
  • Phone 91 8097027355, 91 9137256150, 91
    9222086563
  • Website www.mbaprojectreports.com
  • Email    ebrandingindia2017_at_gmail.com  info_at_diss
    ertationwritingediting.com
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