Project report for Bamboo Handicraft Shop

Introduction

The 'bamboo' also called poor man’s timber, is one of the most important forestry species having wide distribution throughout the country and has potential to make major contribution to the rural economy of India. Bamboo and Cane handicraft market in India is predominantly concentrated in the NorthEast and Easte rnregiono fthe country.The overall bambooproducts marketis segmented in two broader areas,namely traditional markets and emerging products market.Handicraft comes in the traditional products segment. In India nearly 19% of the total Bamboo produced goes for Handicraft production Bamboo and Cane craft market in India is estimated at INR 3,910 Crores in 2016,and estimated to grow at a CAGR of 12% during 2016-2021. The market is primarily driven by rising demand of eco-friendly products in India and several Government initiatives to back bamboo-based product industries. About a third of the total area of Tripura is covered by bamboo, and bamboo has emerged as a key thrust area for the state’s industrial development. Tripura, a state in northeast India, has at least 19–21 species of bamboo. It covers 3,246 km2 of the state, which is approximately 31% of the total area. Given its comparative advantage, bamboo has emerged as one of the key thrust areas for industrial development in Tripura after natural gas and rubber.India is the second only to China in Bamboo production and it is immensely popular in northeastern region. Bamboo is one of the most abundant and environmental-friendly and sustainable resources available in North East Region, which is not being used to its full potential.


Product / Services & process

The firm is presently constrained within purchasing of Handicrafts from Manufacturing Units (SHGs, individuals etc.) and Retailing & Wholesaling those through E-Commerce Website, Social Media Channels, & Physical Outlets.However, within a very short span, company is aiming towards launching training programs revolving around Craftsmanship, to incentivize Young & Educated People to enter the Bamboo Sector .In the long run, the company also has plans to extend business towards Bamboo Cultivation.

 


Market potential & Strategy

India is the second only to China in Bamboo production and it is immensely popular in northeastern region. Bamboo is one of the most abundant and environmental-friendly and sustainable resources available in North East Region, which is not being used to its full potential. North Eastern Himalayan region of India has great diversity of bamboo resources.India is the second only to China in Bamboo production and it is immensely popular in northeastern region. Bamboo is one of the most abundant and environmental-friendly and sustainable resources available in North East Region, which is not being used to its full potential. North Eastern Himalayan region of India has great diversity of bamboo resources.In India nearly 19% of the total Bamboo produced goes for Handicraft production Bamboo and Cane craft market in India is estimated at INR 3,910 Crores in 2016,and estimated to grow at a CAGR of 12% during 2016-2021. The market is primarily driven by rising demand of eco-friendly products in India and several Government initiatives to back bamboo-based product industries.

The Marketing of the Website, Social Media & Physical outlets will be carried this way:
Website: 60% of the total Marketing Budget
Social Media: 20% of the total Marketing Budget
Physical Branding: 20% of the total Marketing Budget

Marketing Expenses of Website: The allocated amount would be used in Advance SEO, PPC, Video Ads.Marketing Expenses of Social Media: The allocated amount would be used in Specific Product Marketing to targeted audience segment, somewhat into overall SMM of the website, & somewhat into marketing of social media handles. Latest Offers would also be majorly marketed over social media. On our Social Media Pages, we are aiming at, 1000 visits/day and expecting a 2% Conversion Rate (initially) i.e. 20 Orders a day.From our Physical Branding, we are expecting a chunk of 12-15 customer visits/day and expecting product purchase by 2-3 CustomersPhysical Branding: The allocated amount would be used for Creating Signages, Banners, Posters of products & company and would be displayed around the Outlet & high population areas of the State.Presently, our marketing plan is primarily serving the purpose of acquiring sales leads alongside Brand Awareness in the relevant regions around the globe.

 


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