After learning about the specialty goods in the Marketing class I decided to share about one of the famous specialty good which is "Lepakshi" Handicrafts.
Lepakshi is a project of the Andhra Pradesh government set up in 1982 to endorse and expand the handicrafts of A.P. in India. The capital paid up by the Govt. of A.P and the Govt. of India is 2.00 crores for marketing, promotion and development of handicrafts in addition to implementing schemes for the artisans benefit. It has a smaller amount of manpower of 181. It's Production Unit which is Nirmal Industry is located at Hyderabad in India.
With the help of the marketing mix (i.e. 4 P's); Lepakshi handicrafts can be perfectly described as Specialty goods.
Product: Lepakshi products are unique and are not purchased frequently. Its brand name "Lepakshi" is a symbol of loyalty and is a strong liking brand. This product needs special effort for purchasing and slight shopping comparison. These products attract significant group of buyers with the major characteristics like brand name and items' exclusive unique features.
Different products offered are:
- Furniture: Rosewood, Nirmal
- Paintings: kalamkari, Nirmal, Cherial Scroll, Kalamkari block prints
- Carvings: Stone, wood
- Toys: Kondapalli, Nirmal
- Artware: Brass, Bidri
- Special items: Silver Filigree, Bobbili Veena, Banjara Embroidery
Thus these unique and special products influence people to put in extraordinary effort to get them.
Price: Lepakshi products are very expensive. Though the market for these products is small, they have high price and profits. Comparisons between choices are not encouraged by the sellers.
Promotion: The publicity is mainly through websites, brochures, Hoardings etc. Promotion is targeted by both the reseller and the producer carefully. Promotion is also done participating in the International and Domestic Trade Fairs.
Place: Distribution of these products is exclusive only in one or a small number of outlets for each market region. It has only 14 retail showrooms. They are available in Exhibitions, Craft melas or bazaars sometimes. So to buy this brand product considerable distances should be travelled is required, as the purchase depends on the personal desire or preference. The time is put in by the buyers to arrive at the dealers to get this desired product.
Thus, this specialty good is really a great asset to the Andhra Pradesh state in India.
References:
http://www.lepakshihandicrafts.gov.in/corporate-profile.asp
http://hydepages.com/eprofiles/10_1.html
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