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Necessity is the mother of "Innovation"
Consistent and persistent product innovation is the only way to grow in this era of competition
From childhood to the college days using of different stationery items fascinate us all. They are available in form of pencils, compass boxes etc. And it has its own value and impression on everybody’s life. Whether they may be colorful water bottles or fancy school bags they play an important role to fantasize children.
The invention of modern technology has brought some changes in the every segment of the economy. But as far as this fantasy is concerned there is no change in tendency. Children still loves to carry colorful bags and bottles for their schools. The basic tendency of children has remained same. There may be changes in their choice or interest but it is same, because of these items come in the category of necessary commodities for the children, so the market nature will remain the same.
As far as market scenario is concern the most important factor of competition has emerged in the period of time. Both at domestic as well as international level this industry has its own nature of battle. Especially from the South East Asian nations particularly with China the Indian manufacturers are facing tremendous competition. In the business sense they are losing shelf space for their products as compare to these products in Indian market. It means that in compare to Indian products the foreign products are getting more preference for the purpose of selling in Indian markets and shops. In this classification the Chinese itemsare heading their way.
From the purchasers point of view this competition is happened to be healthy and fruitful. They are getting quality of products from either side along with cheap price structure. It happens to be a good sign as far as the purchasing capacity of the buyers is concerned. With the increasing standard of living the people are more interested in buying quality stuff. And people are getting more and more quality conscious. We can say that this is one of the important reasons for the growth in market competition. According to Mr.Rajesh Shah, director of Interplast “ the continuous product innovation is the only resort for Indian manufacturers to have their prolong stability in market and to have healthy and protective competition with imported items.”
The modern facility has removed prolong limitations and restrictions of these things. People are becoming more and more aware about their budget, market and market competition. The market value for various products is on its increase due to open market policy. But by the same time the effects of competition has increased in same proportion. In the capacity of availability of raw material there is no much of problems. The popular material used in this variety is plastic and polypropylene as they are durable and comfortable. Along with the ample availability of these materials allows having rich and regular use of these varieties. With the increasing buyers demand for these products there is ongoing manufacturing of these products. With the invention of modern technologies and innovations no doubt the production has increased, product cost will decreased, but still the lack of investment has its own impact on this segment.
Publishing industry is also an important segment of Indian stationery industry. There is both regional and national player in this industry. Nearly 700 players have their part in the functioning of this humming segment. And as compare to other industries, the segment of school stationery has its own place in society. Major of its commodities is considered as necessities that can have the ratio of annual market.
The effects of competition have revealed the functioning limitations of these industries. So especially the industry of stationery that comes in unorganized sector has emerged with its economical as well as enterprise limitations. The cap of small-scale industry and reserved category makes it more difficult for the functioning of this industry. School stationery is one of its small but important segment. It includes wide variety of products like notebooks, compass, sharpeners, erasers, lunch boxes, water bottles, pencils, syllabus books, chalks, ink etc. In this particular situation the survival of the companies are now depending upon the consistent and persistent product innovation. More and more new and innovative varieties will help them to survive in this era of competition. nnn |
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