Economics of Bangle Market
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Case Code: ECON040 Case Length: 08 Pages Period: 2009-2010 Pub Date: 2013 Teaching Note: Available |
Price: Rs.300 Organization : - Industry : Bangles Countries : India Themes: Market Structure, Turnaround Management |
Abstract Case Intro 1 Excerpts
Abstract
Bangles are considered an integral part of the traditional wear for women and girls in India. This much coveted accessory for women is in great demand, particularly during weddings and other festive occasions. This case is about one of the major markets for bangles in India located in the Old City area of Hyderabad. Housed in the winding streets near Charminar, Laad Bazar (also known as the street of bangles) is the site for manufacturing bangles. These bangles are then retailed in big and small stores that line the road leading to Charminar.
Laad Bazaar is especially known for its colorful "lac" bangles prepared from hard lacquer sealing wax and embedded with beautiful colored stones and sequins. Over the years, the bangle market in general and Laad Bazaar in particular has undergone a sea change in terms of demand and supply. Predominantly dependent on impoverished skilled artisans who had inherited the skills of bangle making from their ancestors, the market has witnessed surging demand in recent years. While earlier this business was dominated by a few artisans and the volume of business was carried out on a micro scale, as of 2009, it had grown into an industry having over 4000 artisans. It provided a livelihood to around 2000 families, directly or indirectly. However, as of 2009, the market also faced some tough challenges and there were many potent factors that were putting pressure on margins.
Issues
The case is structured to achieve the following teaching objectives:
- Understand the issues and challenges related to the bangle market in India
- Analyze and understand the structure of the bangle market
- Understand the various factors affecting demand and supply of the bangle market
Contents
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Introduction
Background Note
Production Dynamics & Manufacturing Processes
Characteristics of the Bangle Market
Rising Demand
Challenges
Exhibits
Keywords
Micro Economics; market structure; Competition; Competition Continuum; Monopolistic competition; Demand and supply theory; Elasticity of demand and supply
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