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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

CERTIFICATE
CERTIFICATE

It is certified that the work contained in the thesis entitled “A COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR AND OTHER RETAIL COMPANY"

By Rajesh Kumar has been carried out under my supervision and that this work has not been submitted elsewhere for a degree.

Dr. Kausik Dutta (Department of Marketing) ICFAI University, Jharkhand.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

ABSTRACT
ABSTRACT

Retail is India’s largest industry, accounting for over 10 per cent of the country’s GDP and around eight per cent of the employment. Retail industry in India is at the crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. But because of the heavy initial investments required, break even is difficult to achieve and many of these players have not tasted success so far. However, the future is promising; the market is growing, government policies are becoming more favorable and emerging technologies are facilitating operations. Retailing in India is gradually inching its way toward becoming the next boom industry. The whole concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. Modern retail has entered India as seen in sprawling shopping centers, multi-storied malls and huge complexes offer shopping, entertainment and food all under one roof. The Indian retailing sector is at an inflexion point where the growth of organized retailing and growth in the consumption by the Indian population is going to take a higher growth trajectory. The Indian population is witnessing a significant change in its demographics. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key growth drivers of the organized retail sector in India.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

ACKNOWLEDGEMENT
ACKNOWLEDGEMENT

The thesis what I have presented is not the made outcome of my labor alone. There are dozens of hands buttressed me all through the programme it doesn’t go without thanking all of those who constantly keep me on the move.

I would like to give heartily thanks to ICFAI University, Jharkhand who have given

us an opportunity to learn something practical apart from books by including the in-

plant training in our MBA Programme.

I express my gratitude to Faculty Guide Dr. Kausik Dutta who has supported me to complete this thesis.

I would like to express my most sincere thanks and gratitude to External guide Mr. Somen Banerjee (HR Manager, BIG BAZAAR) who have given a good support to grab the external exposure and to complete a thesis in Big Bazaar.

I give my sincere token of thanks to all my faculties, relatives and friends who have gathered me the wisdom of knowledge. This work is dedicated to my parents who have supported me throughout my study.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

T ABLE OF CONTENTS
T ABLE OF CONTENTS

TABLE OF CO

1. BASIC OF MARKETIN G

……………

Page 6

2. INTRODUCTION TO R ETAIL

……………

Page 21

3. RETAILING INDUSTR Y IN INDIA

……………

Page 28

4. SHOPPER INTELLIGE NCE

……………

Page 29

5. CURRENT TRENDS A ND CHALLENGES

……………

Page 33

6. COMPANY PROFILE

……………

Page 35

7. BIG BAZAAR : Positio ning & Establishment…………….

Page 39

8. BIG BAZAAR : 7 P’s An alysis

…………….

Page 40

9. STUDY STORE

…………….

Page 42

10.STUDY STORE : Organ isational Structure

…………….

Page 43

11.RESEARCH METHOD

OLOGY

…………….

Page44

12.OBJECTIVE OF THE T HESIS

…………….

Page44

13.DATA COLLECTION M ETHOD

…………….

Page44

14.SAMPLING METHOD

…………….

Page45

15.ANALYSIS & INTERPR ETATION

…………….

Page 46

16.SURVEY FINDINGS

…………….

Page55

17.CONCLUSION

…………….

Page56

18.BIBLIOGRAPHY

…………….

Page57

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANYBA SIC OF MARKETING TABLE OF CONTENTS HISTORY The practice of marketing originally simply a

BA SIC OF MARKETING
BA SIC OF MARKETING

TABLE OF CONTENTS

HISTORYOT HER RETAIL COMPANY BA SIC OF MARKETING TABLE OF CONTENTS The practice of marketing originally

The practice of marketing

originally simply a gatherin g place where people with a supply of ite ms or capacity

to perform a service could

perhaps at a pre-arranged ti me.

Such meetings embodied m

sometimes in an informal w ay. Sellers and buyers sought to understa nd each other's

needs, capacities, and psych ology, all with the goal of getting the exc hange of items

or services to take place.

beginnings as an open air m arket located at Wall Street in New York C ity. The rise of Agriculture und oubtedly influenced markets as the ear liest means of

'mass production' of an item , namely foodstuffs. As agriculture allow ed one to grow

is perishable,

there was likely motivation

it spoiled, in exchange for ot her items.

Myopia. This is

said to have really begun

manufacturing industries at the time were misinterpreting what indu stry they were part of. He stated that until you fully understood the industry you w ere part of you were likely to fail. For exa mple the rail industry was not in the b usiness of rail transport but in the industr y of transport in general they were still c ompeting with the likes of cars and public t ransport.

Levitt is said to be one of th e founders of the marketing discipline, a nd contributed

to the making of the 4Ps fra

In 1960 Theodore Levitt w rote a journal article called Marketing

the marketing craze. In it he discusse d that the big

to seek out others who could use the exce ss food, before

more food than could be ea ten by the grower alone, and most food

is almost as old as humanity itself.

A Market was

meet with those who might desire the ite ms or services,

any aspects of today's marketing met hods, although

Today's New York Stock Exchange h ad its humble

mework that transactional marketing is ba sed around.

A little bit of marketing the ory

and soon you will find that m

Marketing is more than sale s. Marketing is the set of activities used to

All it takes is a little theory practic ed and applied,

arketing comes naturally.

1. Get your potential custo

2. Motivate them to buy

3. Get them to actually buy

mer's attention

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

4. Get them to buy again (and again…) Marketing is how you define your product, promote your product, distribute your product, and to maintain a relationship with your customers. Marketing theory is made up of the 5 P’s. Product, Positioning, Place, Price and Promotion. Each "P" contributes to your marketing

ProductPromotion . Each "P" contributes to your marketing Product is, of course, the thing (or service)

Product is, of course, the thing (or service) that you have to offer to the customers. There are a number of thing about the product you should evaluate. It is important to understand your product from the customer’s point of view. Product Description It is critical to be able to say in one clear sentence why your product is perfect for a specific buyer and what it does best.” To (target audience), (product name) is the type of (product) that (performs this task)."

is the type of (product) that (performs this task)." Product Name There are some exceptions to

Product Name

There are some exceptions to

this - such as music band names. One of the best ways to determine a name for a

product is to have a brainstorming session. The rules of brainstorming are:

1. No ideas are rejected or criticized

2. It is a free form "brain dump"

3. Someone is in charge of writing the ideas on a board where everyone can see them.

4. After the ideas a generated, they are ranked by preference.

5. The pros and cons of the top ideas are discussed.

It is more important to be descriptive than creative.

It is more important to be descriptive than creative. Functionality, Features & Benefits In order to

Functionality, Features & Benefits

In order to begin to understand the product from a customer’s point of view, list the functionality, the features, and the benefits that product has. List functionality and features that could be added. Prioritize each for the target market or market segments to determine the development of the product going forward. This list will be used in positioning the product.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Product AdaptabilityREFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY By understanding how adaptable your software

By understanding how adaptable your software is, you can incorporate the

necessary elements into your marketing. There are five factors for measuring how "adaptable" a new product is:

• Relative advantage of the product: How superior is the innovation to the product or other problem-solving methods it was designed to compete against?

• Compatibility: Does it fit with current product usage and customer activity?

• Complexity: Will difficulty or confusion arise in understanding the innovation’s basic idea?

• Divisibility: How easily can trial portions of the product be purchased?

• Communicability: How likely is the product to appear in public places where

it is easily seen and studied by potential users? Example - Product Music CD What is it that you are selling? You could say you are selling music, or an experience, or a feeling, or yourself. But the bottom line is that you want people to buy your CD. Note: Producing CDs has many advantages over producing tapes. CDs can be produced for about $2 - $3 each, and you can charge $10 - $20 for them. CDs give a professional, polished impression, and it is the media of choice for music listeners. Ah. But what about tickets you sell to a show? Or T-shirts you sell? Aren't these your product? Not really. They are ways to promote your CD. Everything you do should be done with the end result of selling CDs.

you do should be done with the end result of selling CDs. Positioning Simply, positioning is

Positioning

Simply, positioning is how your target market defines you in relation to your competitors. A good position is:

1. what makes you unique 2. This is considered a benefit by your target market Both of these conditions are necessary for a good positioning. So what if you are the only red-haired singer who only knows how to play a G minor chord? Does your target market consider this a good thing? Positioning is important because you are competing with all the noise out there competing for your potential fans attention. If you can stand out with a unique benefit, you have a chance at getting their attention.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

It is important to understand your product from the customer’s point of view relative to the competition.

Environmentthe customer’s point of view relative to the competition. In order to begin positioning a product,

In order to begin positioning a product, two questions need to be answered:

1. What is our marketing environment? 2. What is our competitive advantage?

The marketing environment is the external environment. Some things to consider:

• How is the market now satisfying the need your software satisfies?

• What are the switching costs for potential users for your market?

• What are the positions of the competition?

The competitive advantage is an internal question. What do you have that gives you advantage over your competitors. Some things to consider:

• Is your company small and flexibility?

• Do you offer low cost and high quality?

• Does your product offer unique benefits?

• Are you the first on the market with this product (First mover advantage)?

on the market with this product (First mover advantage)? Positioning Strategies There are seven positioning

Positioning Strategies

There are seven positioning strategies that can be pursued:

• Product Attributes: What are the specific products attributes?

• Benefits: What are the benefits to the customers?

• Usage Occasions: When / how can the product are used?

• Users: Identify a class of users.

• Against a Competitor: Positioned directly against a competitor.

• Away from a Competitor: Positioned away from competitor.

• Product Classes: Compared to different classes of products.

Product Classes: Compared to different classes of products. Segmentation There are three types of segmentation: 1.

Segmentation

There are three types of segmentation:

1. Mass Marketing or Undifferentiated Marketing: Go after the whole market

with one offer and focus on common needs rather than differences

2. Product-variety Marketing or Differentiated Marketing: target several market

segments and design separate offers for each

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

3. Target Marketing or Concentrated Marketing: Large share of one or a few

sub-markets. Good when company’s resources are limited. To identify a niche market, a series of 2 by 2 matrixes can be used to identify an area that is being overlooked by larger competitors. The competitors are mapped on this matrix and you can see where there may be some opportunities.

Positioning Differencesand you can see where there may be some opportunities. The differences that are promoted for

The differences that are promoted for a product must be:

• Important: The difference delivers a highly valued benefit to the target buyers.

• Distinctive: Competitors do not offer the difference, or the company can offer it in a more distinctive way.

• Superior: The difference is superior to other ways that the customer might obtain the same benefit.

• Communicable: The difference can be explained and communicated to the target buyers.

• Preemptive: Competitors cannot easily copy the difference.

• Affordable: Buyers can afford to pay the difference.

• Profitable: Company can introduce the difference profitably.

Profitable: Company can introduce the difference profitably. Place Place, or distribution channel, is the method for

Place

Place, or distribution channel, is the method for making your product available to the consumer. Functions There are eight main functions for distribution channels:

1. Information: gathering and distributing marketing research

2. Promotion: developing and communicating offers

3. Contact: communicating with prospective buyers

4. Matching: fitting the offer to the buyer's needs

5. Negotiation: reaching agreement on price and terms

6. Physical distribution: transporting and storing the goods

7. Financing: getting and using funds to cover the costs of channel work

8. Risk taking: assuming the risks the channel work.

Example - Selling a CD Place is simply where your fans buy your CD. You can also call it distribution.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

There are many ways to distribute your CD. Retail Probably the most difficult is retail (selling your CD in music stores). This is difficult for independent musicians or bands because you usually need to have a relationship with a distributor. Online Isn't the Web wonderful? You can easily and cheaply set up a web page with your information, sample audio files, show dates, and how to order your CD. In Person Whenever you perform, you should sell your CDs. You can mention that you are selling CDs and where to buy them while you are performing. It is easier if you have a friend to help you. This person can collect the money, hand out the CDs, etc. so you don't have to worry about it during a show. In Home There is nothing wrong with telephone orders!

PriceIn Home There is nothing wrong with telephone orders! Price is the amount of money charged

Price is the amount of money charged for a product or service or the value exchanged for the benefits of the product or service. For a new product, you must understand your positioning before you set a price. Make sure it is not too low, or the product will not be taken seriously. If it is too high, the potential customer will not take the risk.

is too high, the potential customer will not take the risk. Pricing Strategies There are five

Pricing Strategies

There are five general pricing strategies:

1. Product Line: Setting price steps between product line items

2. Optional Product: Pricing optional or accessory products

3. Captive Product: Pricing products that must be used with the main product

4. By-Product: Pricing low value by product to get rid of them

5. Product Bundle: Pricing bundles of products sold together

5. Product Bundle: Pricing bundles of products sold together New Product Pricing There are two new

New Product Pricing

There are two new product pricing strategies:

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

• Market-Skimming: Initially set high prices to "skim" revenue layer by layer from the market. Works when:

Quality and image support the higher price Enough buyers want the product at that price Cost of producing a small volume cannot be high Competitors should not be able to enter the market easily

• Market Penetration: Set a low initial price in order to penetrate the market quickly and deeply to win a large market share. Works when:

Market is highly price sensitive

• Production and distribution costs fall as sales volume increases

• Low price must help keep out the competition

Price Adjustmentincreases • Low price must help keep out the competition The following are price adjustments based

The following are price adjustments based on changing situations:

• Discount & Allowance: reduced prices to reward customer responses such as paying early or promoting the product

• Discriminatory: adjusting prices to allow for differences in customers, products, and locations

• Psychological: adjusting prices for psychological effects. Ex: $299 vs. $300

• Value: adjusting prices to offer the right combination of quality and service at a fair price

• Promotional: temporarily reducing prices to increase short-run sales

• Geographical: adjusting prices to account for geographic location of customer.

• International: adjusting prices in international markets

• International: adjusting prices in international markets Promotion Promotion is the specific mix of advertising,

Promotion

Promotion is the specific mix of advertising, personal selling, sales promotion, and public relations a company uses to pursue its advertising and marketing objectives. If you are an entrepreneur, you most likely have limited resources and you are still learning about the market. Information gather is extremely important at this stage of the game. The trick is the start the revenue stream without spending too much money.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

ObjectivesREFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY The objectives that are met by

The objectives that are met by promoting are to move the target market through the following phases:

“It is believed that consumers cannot skip over a phase, but they need to move through them. Promotion is used to move the target market from one phase to another to finally purchase.”

market from one phase to another to finally purchase.” The Offer The offer needs to be

The Offer

The offer needs to be identified before you begin any promoting. What are you offering the target customer? What do you want the target market to do? One mistake that can be made is to create a promotional advertisement and not tell the customer what to do. You should prompt the customer and tell them to "call this number to place an order" or "download this software from our web site".

or "download this software from our web site". Measuring Response Testing different offers, advertisements,

Measuring Response

Testing different offers, advertisements, direct mail letters, lists, and promotion techniques can tell you what method is most effective. There is a trade-off. Testing is expensive. You need different versions of promotions, which raises production expense. You need to track the results, which takes time. But the information you gather could help you reduce wasteful, ineffective spending in the future. If you decide to test, make sure you have a method for measuring response. You can do this by first asking the customer where they heard about you when taking the order, if it is a telephone order. If it is an order form that they mail back to you, you can code the order form with a tracking number that lets you know exactly what promotion the customer is responding to. This information can then be entered into the customer database for future analysis.

be entered into the customer database for future analysis. World Wide Web The Web allows for

World Wide Web

The Web allows for a cheap way of promoting your product. It is a great tool because it allows the target customers to educate themselves about your product by reading about it, seeing a demo, and download a copy (and therefore serve as your distribution channel).

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Remember, you are trying to reduce the perceive risk of purchasing your product. By providing a Web page, you are moving the target market through the communication cycle from unawareness to purchase. Also, you are trying to reach innovators and early adopters. These people are actively searching for better ways to meet their needs. The Web is a natural place for them to go to look for you. The difficulty with the Web is all of the noise out there. It is very crowded and difficult to be noticed. Register with the entire search engines, such as Yahoo and Alta Vista. Make sure that there are keywords in your web site that will attract your target audience.

Direct Mailin your web site that will attract your target audience. An average response rate for direct

An average response rate for direct mail is about 1%. This depends on the offer, the mailing list, the target audience, the creative (how the direct mail piece looks), and the timing of the mailing. There is a whole industry built around direct mailing.

This promotional activity involves many steps. Direct mail is a way of promoting your software product by sending prospects mail.

It is a way of directly communicating to a list of people.

It is a way of directly communicating to a list of people. List Selection A list

List Selection

A list is the names and addresses that you use to send your direct mail piece. This

list is very important to the success of a mailing. Some experts place 40% - 60% of importance to the list and 40% - 60% to other combined factors, such as offer, sales letter, and timing. You rent a list from a company - as opposed to buying a list. You can rent a list for one-time use, n-time use, or unlimited use. However, until you test the list, it would be best to rent it for one-time use. Once you determine which list works for you, then you can start negotiating multi-use lists. Be aware that list rental companies track the use of your list. They include "seed" names that you will not be able to identify. These seed names show if you use the list more times than you rented it for. Once a name on the list contacts you, whether to buy or simply inquire, you can then use that name any way you want. They are considered your customer now. You rent lists from a variety of sources:

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

• Compiled List: Names and addresses from a common source - such as a phone book. These lists are the least expensive, but have the lowest response rate.

• Mail Order Buyer Lists: Names and addresses of people who have responded to direct mail in the past. Lists can be selected by lifestyle or special interests. These lists respond better than compiled lists.

• Publication Lists: Names and addresses of people who subscribe to a particular magazine. General interest magazines tend to have a lower response rate than special interest magazines. Special interest newsletters have a small circulation, but if this group is your target market, it can have a better response rate than other lists.

• Donor Lists: Names and addresses of people that are of interest to non-profit organizations.

• House Lists: Names and addresses owned by a specific company of customers and inquires of their product. You can narrow lists down by demographic information, such as gender, geographic location, income, homeowners, frequency of purchase, regency of purchase, and monetary (amount) of purchase. Regency of purchase tends to be a good indicator of response rate. The older the names, the less likely the response - although you must test your lists to determine how old is old. Make sure that the company renting you the list has merged/purged it for duplicate names, has updated the names and addresses using NCOA (National Change of Address), and cleaned the file (removed all non-deliverables from the list). You should have in your contract you get credit for names that are returned for non- delivery. You should merge/purge the file against any customer list you already have, or any other rented lists you have. Prices are usually given in cost per thousand. There is usually a minimum order - such as 5,000 names. There is usually a cost to select based on certain criteria. Price ranges can be from $50/M to $300/M for a base price. Each source varies. However, the cheapest list may not be the most cost effective. You need to look at cost per acquisition once the mailing is complete.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Common MeasurementsREFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY • Cost per acquisition = Total

• Cost per acquisition = Total Cost of Mailing / Number of Responders (people who ordered).

• Cost per piece = Total Cost of Mailing / Number of People Mailed.

• Response rate = Number of Responders / Number of People Mailed. Response rates to prospects (non-customers) average around 1%.

rates to prospects (non-customers) average around 1%. Response Mechanism One of the most important parts of

Response Mechanism

One of the most important parts of your direct mail piece is the response mechanism. This is the device that the prospect will use to place the order (or request information). In designing your response mechanism or order form you need use all you have thought about so far - your offer, your product, the benefit it gives your customers, the price, and the risk reducer (such as a money back guarantee or a free trial period). Make it easy for the prospect to place the order. Give them many ways to do it - telephone, e-mail, fax, mail back order form. Tell them exactly how to pay for the order. The response card should be easy to fill out, offer as few choices as possible, be short, and be easy to read and understand. Although using a postcard may be cheaper, people will not put confidential information on a postcard. They will not put credit card number or even name and phone number on something everyone can read. Use a business reply envelope, even if it is a little more expensive. You will get a higher response rate. And make sure the response card fits in the envelope without folding it. Involvement devices work. Give the prospect something to do, such as check a box to order or place a sticker or stamp on the order form. Give the order form a look of intrinsic value. Use the bond-like borders, seals, stamps, and other money look a-likes.

borders, seals, stamps, and other money look a-likes. Product Brochure This piece of the direct mail

Product Brochure

This piece of the direct mail can be made a little more "slick" than the sales letter will be. The brochure will describe your product, the technical specifications, and

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

the benefits to the customer, and testimonials from other customers, any free trial period, and money back guarantee. Include the company's name, address, phone number, fax number, and web address.

Sales Lettername, address, phone number, fax number, and web address. The first line of a sales letter

The first line of a sales letter is a headline. It should give the reader immediately the benefits of the offer being made. This is the first thing a reader will read. The P.S. at the bottom of the letter is the second thing a read will read. Be sure to add a P.S. to your letter, giving the offer, the benefits, the free trial period, and the deadline. The average length of the sales letter is 4 pages long. Two pages long are considered

a short length letter and six or more is considered a long length letter. Printing on both sides of a page test as well as one sided print. The use of push dates test better than no push dates. A push date is a deadline for the prospect to order - "PLEASE RESPOND BY MONDAY". If you are going to use a specific date, allow for at least three weeks for delivery for third class mail.

for at least three weeks for delivery for third class mail. Envelope The first thing the

Envelope

The first thing the prospect sees is the envelope. Some people use this to print a "teaser" copy on the front of the envelope. This could be used to hint at what great offer lies inside if they just would open the letter.

The risk is that the teaser copy immediately tells the prospect that this is another advertisement junk mail piece, and it may not get opened as a result.

If you do use teaser copy, make sure that whatever is promised on the outside is

fulfilled on the insider. Otherwise the person will be angry, and therefore, no sale.

Otherwise the person will be angry, and therefore, no sale. Testing and Tracking Response On your

Testing and Tracking Response

On your response card, you can assign a code so you can keep track of what the customer is responding do. What list did you use, what offer, what sales letter, what brochure, what price, etc. There is no limit to the things you can test via direct mail. For example AA-123-MA-1 could translate to the first mailing of list source AA, sales letter 1, brochure letter 2, and price 3, in Massachusetts.

If you are testing price, make sure that everything else is constant. Use the same list

and the same direct mail piece, with just the price changed.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Some Tricks That WorkREFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY Remember that direct mail is a

Remember that direct mail is a personal medium. The more personal you can make your mail look, the better response you will get. Stamps work better than metered mail. Stamps look more like a personal letter. First-class stamps provide a fast delivery, but don't necessarily improve response rate version third-class stamps. Flamboyant color just for the sake of color does not pay off. If you decide to use some color for conservative enhancement, browns and greens do not work as well as aquamarine blues, cold and warm grays, warm reds. Some other successful colors have been bright orange, yellow ochre light and/or a metallic gold. Soft white book and antique-finish papers work better than slick super white paper. Cheap thin paper makes the product look cheap. Address labels perform worse than computer printed addresses directly on the envelope. Make a dummy sample to determine folding of paper, size, and most importantly weight. Postage is very expensive, and if you go over the designated weight set by the post office, you will be paying for it. See the post office for the weight and size limits for first-class and third-class mail. People like to do things. Checking a box, using stickers and stamps and work to improve response.

box, using stickers and stamps and work to improve response. Classified Advertisements Although it may nice

Classified Advertisements

Although it may nice to be able to take out a full color, full page advertisement in an industry magazine, it is very expensive and will not reach your target market of the innovators and early adopters. This target market will read the classified ads in the magazines looking for and willing to try new things. The key for classified advertisements is frequency. Running an ad once will create awareness, but not necessarily action. Request a media kit from the magazine you are considering. This should contain circulation information, subscriber profiles, and prices. This will help you determine if your target market reads this magazine.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANYPress Releases A press release is an announcement of a new product release. Editors may

Press ReleasesREFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY A press release is an announcement

A press release is an announcement of a new product release. Editors may take this

information and publish it as news in their magazine or newspaper. This is a great way to get free publicity. To send a press release, you should prepare a press kit that includes:

• Cover letter to the editor

Press release product announcement Product features sheet

• Corporate background sheet

Evaluation product Technical specifications sheet (if any)

Reprint of any past articles Names of end user contacts and comments

Picture of your product The editor may take your product announcement, make some modifications to it by hand, and send the original to be printed. In general, editors like to have the press releases double spaced with plenty of margin room. There can be a 3-4 month lead time before your press release is published.

If possible, tie your press release into current events or human interest. It has a

better chance of being published. Don't write your press release like an advertisement. Any claims you make be sure to back them up with user testimonials. Tailor your press release to each publication, or at least each type of publication. Mass mailing press releases don't usually get published. Also, send your press release to one person at each magazine. If you are unsure of the person, contact the magazine for a contact name. Include in your press release the product name, the price, a company contact name, the company name, address, phone number, fax number, and e-mail address. Be

prepared to take questions. Your opening sentence should be clear and concise. "The first (product) capable of (doing this benefit) is now available from (your company) for people who need to (this need)".

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANYProduct Reviews Magazines have product review editors that review it in an article or column.

Product ReviewsREFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY Magazines have product review editors that

Magazines have product review editors that review it in an article or column. This can provide great exposure. However, it can also be risky. What damage will it do if you get a bad review? Before pursuing this promotional activity, it may be safest to fully complete testing, and have contacted many new customers to get their feedback on the product. Make sure there are no surprises. Choose a magazine your target market is reading. You can always use quotes from the review in your promotional material for other promotions. With more people accepting the product, the faster you will move past the early adopters and innovators. Call the magazine for the name of the correct person to send the product to. Ensure that this person gets a full product. Be available for questions. If a reviewer has problems, there will usually be a phone call to the company first. Example - Promotion Your Music

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANYINTR ODUCTION TO RETAIL TABLE OF What is retailing? Retailing involves selling pr oducts and

INTR ODUCTION TO RETAIL
INTR ODUCTION TO RETAIL

TABLE OF

What is retailing? Retailing involves selling pr oducts and services to consumers for th eir personal or family Retailing involves selling pr oducts and services to consumers for th eir personal or family use. Department sto res, like Burdines and Macy's, discount s tores like Wal- Mart and K-Mart, and speci alty stores like The Gap, Zales Jewelers a nd Toys 'R' us, are all examples of retail s tores. Service providers, like dentists, h otels and hair salons, and on-line stores, li ke Amazon.com, is also retailers.

Many businesses, like Home

sell to consumers and build ing contractors. Other businesses, like T he Limited, are both manufactures and ret ailers. Regardless of other functions th ese businesses

perform, they are still retail ers when they interact with the final user of the product or service. Retailing consists of the sale of goods or merchandise, from a fixed loc ation such as a department store or kiosk, i n small or individual lots for direct cons umption by the purchaser. Retailing may inc lude subordinated services such as delive ry. Purchasers may be individuals or busin esses. In commerce, a retailer buys goods or products in

large quantities from man ufacturers or importers, either directly

wholesaler, and then sells s maller quantities to the end-user. Retail

are often called shops or

Manufacturing marketers s ee the process of retailing as a necessar y part of their

overall distribution strategie s. Shops may be on residential streets, or in shopping streets with few o r no houses, or in a shopping center or ma ll. Shopping streets may or may not be f or pedestrians only. Sometimes a shoppin g street has a partial or full roof to pro tect customers from precipitation. Retailer s often provided boardwalks in front of their stores to protect customers from the mud. Online retailing, also known as e-co mmerce is the latest form of non-shop reta iling.

this is done to a recreational

activity. Recreational shopp ing often involves window shopping (ju st looking, not

buying) and browsing and d oes not always result in a purchase.

Shopping generally refers t o the act of buying products. Sometimes obtain necessities such as fo od and clothing; sometimes it is done as

or through a establishments supply chain.

Depot, are both wholesalers and retailer s because they

stores. Retailers are at the end of the

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Most retailers have employees learn facing; a hyperreal tool used to create the look of a perfectly-stocked store (even when it's not). Retail pricing The pricing technique used by most retailers is cost-plus pricing. This involves adding a markup amount (or percentage) to the retailers cost. Another common technique is suggested retail pricing. This simply involves charging the amount suggested by the manufacturer and usually printed on the product by the manufacturer. In Western countries, retail prices are often so-called psychological prices or odd prices: a little less than a round number, e.g. $6.95. In Chinese societies, prices are generally either a round number or sometimes a lucky number. This creates price points. Often prices are fixed and displayed on signs or labels. Alternatively, there can be price discrimination for a variety of reasons. The retailer charges higher prices to some customers and lower prices to others. For example, a customer may have to pay more if the seller determines that he or she is willing to. The retailer may conclude this due to the customer's wealth, carelessness, lack of knowledge, or eagerness to buy. Price discrimination can lead to a bargaining situation often called haggling — a negotiation about the price. Economists see this as determining how the transaction's total surplus will be divided into consumer and producer surplus. Neither party has a clear advantage, because the threat of no sale exists, whence the surplus vanishes for both. Retailers who are overstocked, or need to raise cash to renew stocks may resort to "Sales", where prices are "marked down", often by advertised percentages - "50% off" for example."Sales" are often held at fixed times of the year, for example January sales, or end-of-season sales, or Blue Cross Sale. Etymology Retail comes from the French word retaillier which refers to "cutting off, clip and divide" in terms of tailoring (1365). It first was recorded as a noun with the meaning of a "sale in small quantities" in 1433 (French). Its literal meaning for retail was to "cut off, shred, paring". Like the French, the word retail in both Dutch and German (detailhandel and Einzelhandel respectively) also refer to sale of small quantities or items.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Retail types There are three major types of retailing. The first is the market, a physical location where buyers and sellers converge. Usually this is done on town squares, sidewalks or designated streets and may involve the construction of temporary structures (market stalls). The second form is shop or store trading. Some shops use counter- service, where goods are out of reach of buyers, and must be obtained from the seller. This type of retail is common for small expensive items (e.g. jewelry) and controlled items like medicine and liquor. Self-service, where goods may be handled and examined prior to purchase, has become more common since the Twentieth Century. A third form of retail is virtual retail, where products are ordered via mail, telephone or online without having been examined physically but instead in a catalog, on television or on a website. Sometimes this kind of retailing replicates existing retail types such as online shops or virtual marketplaces such as eBay. Buildings for retail have changed considerably over time. Market halls were constructed in the Middle Ages, which were essentially just covered marketplaces. The first shops in the modern sense used to deal with just one type of article, and usually adjoined the producer (baker, tailor, cobbler). In the nineteenth century, in France, arcades were invented, which were a street of several different shops, roofed over. From this there soon developed, still in France, the notion of a large store of one ownership with many counters, each dealing with a different kind of article was invented; it was called a department store. One of the novelties of the department store was the introduction of fixed prices, making haggling unnecessary and browsing more enjoyable. This is commonly considered the birth of consumerism. In cities, these were multi-story buildings which pioneered the escalator. In the 1920's the first supermarket opened in the United States, heralding in a new era of retail: self-service. Around the same time the first shopping mall was constructed which incorporated elements from both the arcade and the department store. A mall consists of several department stores linked by arcades (many of whose shops are owned by the same firm under different names). The design was perfected by the Austrian architect Victor Gruen. All the stores rent their space from the mall owner. By mid-century, most of these were being developed as single enclosed, climate-controlled, projects in suburban areas. The mall has had a considerable impact on the retail structure and urban development in the United States.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANYIn addition to the enclosed malls, there are also strip malls which are 'outside' malls

In addition to the enclosed malls, there are also strip malls which are 'outside' malls (in Britain they are called retail parks. These are often connected to supermarkets or big box stores. Also, in high traffic areas, other businesses may lease space from the supermarket or big box store to sell their goods or services from. A recent development is a very large shop called a superstore. These are sometimes located as stand-alone outlets, but more commonly are part of a strip mall or retail park. Local shops can be known as brick and mortar stores in the United States. Many shops are part of a chain: a number of similar shops with the same name selling the same products in different locations. The shops may be owned by one company, or there may be a franchising company that has franchising agreements with the shop owners (see also restaurant chain). Some shops sell second-hand goods. Often the public can also sell goods to such shops, sometimes called 'pawn' shops. In other cases, especially in the case of a nonprofit shop, the public donates goods to the shop to be sold (see also thrift store). In give-away shops goods can be taken for free. There are also 'consignment' shops, which is where a person can place an item in a store, and if it sells the person gives the shop owner a percentage of the sale price. The advantage of selling an item this way is that the established shop give the item exposure to more potential buyers. The term retailer is also applied where a service provider services the needs of a large number of individuals, such as with telephone or electric power.

Why is Retailing Important? As the final link between consumers and manufacturers, retailers are a vital part of the As the final link between consumers and manufacturers, retailers are a vital part of the business world. Retailers add value to products by making it easier for manufactures to sell and consumers to buy. It would be very costly and time consuming for you to locate, contact and make a purchase from the manufacturer every time you wanted to buy a candy bar, a sweater or a bar of soap. Similarly, it would be very costly for the manufactures of these products to locate and distribute them to consumers individually. By bringing multitudes of manufacturers and consumers together at a single point, retailers make it possible for products to be sold, and, consequently, business to be done. Retailers also provide services that make it less risky and more fun to buy products. They have salespeople on hand who can answer questions, may offer credit, and display products so that consumers know what is available and can see it before

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

buying. In addition, retailers may provide many extra services, from personal shopping to gift wrapping to delivery, that increase the value of products and services to consumers.

The Future of Retailing Advances in technology, like the Internet, have helped make retailing an even more challenging and Advances in technology, like the Internet, have helped make retailing an even more challenging and exciting field in recent years. The nature of the business and the way retailing is done are currently undergoing fundamental changes. However, retailing in some form will always be necessary. For example, even though the Internet is beginning to make it possible for manufacturers to sell directly to consumers, the very vastness of cyberspace will still make it very difficult for a consumer to purchase every product he or she uses directly. On-line retailers, like Amazon.com, bring together assortments of products for consumers to buy in the same way that bricks-and-mortar retailers do. In addition, traditional retailers with physical stores will continue to be necessary. Of course, retailers who offer personal services, like hair styling, will need to have face-to-face interaction with the consumer. But even with products, consumers often want to see, touch and try them before they buy. Or, they may want products immediately and won't want to wait for them to be shipped. Also, and perhaps most importantly, in many cases the experience of visiting the retailer is an important part of the purchase. Everything that the retailer can do to make the shopping experience pleasurable and fun can help ensure that customers come back.

and fun can help ensure that customers come back. Retail Strategy Planning Strategy? Why To define

Retail Strategy Planning Strategy?

Why

To define the business idea and validate the same through:

Market entry strategy

Market positioning strategy

New concept development

Business feasibility analysis

For

Whom?

Strategy planning service caters to the needs of:

• Entrepreneurial retail venture

• Organizations planning to foray into the retail arena

• Manufacturing companies with retail business ideas

• Existing traditional retail businesses trying to reinvent themselves

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANYHow? A series of activities are required to frame a strategy. These include: • Management

How?

A series of activities are required to frame a strategy. These include:

• Management interviews

• Organization assessment

• Segment analysis

• Competitive performance analysis

• Customer research

• Capturing target segments ‘Share of Mind’

• Analysis of different format options

• Analysis of merchandise mix

• Analysis of various price points

• Rollout plan

• Business feasibility plan

price points • Rollout plan • Business feasibility plan Why Integrated Retail? Integrated Retail carries out

Why Integrated Retail?price points • Rollout plan • Business feasibility plan Integrated Retail carries out Strategy Planning based

Integrated Retail carries out Strategy Planning based on the following strengths:

• Large team with over 200 man-years of retail operations and business experience

• Successful implementation track record of similar projects

• Constantly updated repository of best business practices in retail from across the world

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY• Data bank of benchmark retail performance data • Access to macro-economic data impacting overall

• Data bank of benchmark retail performance data

• Access to macro-economic data impacting overall retail and consumer businesses.

Retail Summary Chart Below us summarizes each retail format by using the seven categorization characteristics. The characteristics identified Below us summarizes each retail format by using the seven categorization characteristics. The characteristics identified for each format should be viewed as the “most likely” case for that format and are not necessarily representative of all retailers that fall into this format. For example, under distribution, clearly most retailers today have an online presence, however, for many the predominant distribution methods is still selling through retail stores.

Format Target Products Pricing Promotion Distribution Service Ownership Market Carried Strategy Emphasis Level
Format
Target
Products
Pricing
Promotion
Distribution
Service
Ownership
Market
Carried
Strategy
Emphasis
Level
Structure
Mom-and-Pop
mass
general
competitive
advertising
stand-alone
assorted
individually o/o
specialty
specialty
direct mail
strip center
shopping area
Mass Discounter
mass
General
discount
advertising
stand-alone
self
corp. chain
strip-center
Warehouse Store
mass
General
discount
advertising
stand-alone
self
corp. chain
Category Killer
mass
Specialty
discount
advertising
stand-alone
assorted
corp. chain
competitive
strip center
Department Store
specialty
General
competitive
advertising
shopping area
assorted
corp. chain
shopping mail
Boutique
speciatly
Specialty
full
Selling
stand-alone
full
individuallly o/o
exclusive
strip center
chain
shopping area
Catalog
mass
general
discount
direct mail
direct marketer
assorted
corp. structure
specialty
specialty
competitive
e-Retailer
mass
general
discount
advertising
online seller
self
corp. structure
specialty
specialty
competitive
full
Franchise
mass
Specialty
competitive
advertising
stand-along
assorted
contractual
strip center
Convenience
mass
General
full
advertising
stand-alone
self
individually o/o
corp. chain
Vending
mass
Specialty
full
None
vending
self
corp. structure
Management Thesis – 1 | 3 rd Semester

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

RETAI LING INDUSTRY IN INDIA
RETAI LING INDUSTRY IN INDIA

TABLE OF

It was only in late the 1980’ s that organized retailing started in India. Till 1990’s the

retail store like

Raymonds, Grasim, S kuma rs and Bombay Dyeing. With liberaliza tion of Indian economy in 1990 multi-na tional players like Nanz entered in I ndian retailing industry. Encouraged by the response to branded retail stores, Indian entrepreneurs set up retail chains like Vive ks, Nilgiris and Cotton World. Now the ret ailing industry

organized retailing industry was dominated by manufacturer-owned

is flooded with large stor es, shopping malls and multiplexes. S hopper’s Stop,

Lifestyle, West Side, Pantalo ons, Giant, Food World, Croosword and some of the big names in the organized retailing industry.

Big Bazaar are

The retail customer of India in 21 st century is different from those in

Retail strategies need to

demographics and new buyi ng patterns. There is an increase in the n umber of small households with working c ouples. Their children including teenag ers have high purchasing power. With em ergence of call centers which employ yo ung graduates,

away from parents. Thus, the purchasin g power of the

many of them stay in cities

young has increased consid erably. The increasing number of India ns working in

1980’s & 90’s. of changing

be continuously assessed in view

multinational companies, fr equent trips abroad, and to a certain ex tent the media have all played their part in increasing brand consciousness among c ustomers. They

prestige and status. Hence, retailers sh ould strive to

equate brand with quality,

maintain superior quality pr oducts and enhance their brand image a nd store image

to retain customer’s confide nce and win their loyalty.

In India, the retailing indu stry is still in the growth phase, with l ot of untapped

potential. Existing players

entering the industry to tap the potential.

are expanding their operation while ne w players are

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

SHO PPER INTELLIGENCE
SHO PPER INTELLIGENCE
BIG BAZAR & OT HER RETAIL COMPANY SHO PPER INTELLIGENCE an understanding of what motivates TABLE

an understanding of what motivates

TABLE OF

Specialist shopper researc h must be carried out to make sense

environment, and to gain

behaviours and decisions i n the store. “Global research spend allo cated to retail,

including the shopper, is be tween 15 and 20 per cent. In South Afric a only five per

but it’s what everybody is talking about ,” says Siemon

Magasin, and global director of TNS Reta il and Shopper.

(and that’s just

the FMCG categories), accor ding to Michael Broughton, acting CEO of the Consumer Goods Council of SA (CGC SA).The good news is that there is a l ot of research innovation taking place. “T here are a greater number of store pilot s and targeted

The shopper retail/marketi ng industry is said to be worth R130 bn

cent of spend goes to retail, Scamell-Katz, founder, TNS

of the retail the shopper’s

shopper research going on. insights. They are thinking

brand director, Added Value . Shopper research can be a costly invest ment, so brand

owners are encouraged to

research methodology used. “When companies don’t know what rese arch to buy, we actually recommend that th ey begin by studying existing in-store da ta and use it to

get their basics right, includi ng supply chain and merchandising.

Retailers are waking up to it and they want category about their competitors,” says Andrea E llens, associate

start small and be very particular abo ut the type of

Once this has been achieve d, they can start asking the more com plex questions

of Glendinning

Management Consultants. H e points to technology and software avail able in the UK,

which allows the marketer

to input sales data obtained from the ret ailer, and then

around shopper insights,” s ays Stephen Mawby, managing director

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

slice it up and analyse it in many different ways to get a holistic understanding of

the performance of its brands. Locally, sales data is available, but there is a shortage of standardised software or tech systems. Very important is that the research itself be integrated into marketing strategy to address the business goals and problems of

a brand or store, and should be accompanied by both pre- and post-testing to

determine its effectiveness. Yet fewer than five per cent of brands globally are confident that shopper research has been integrated into their strategies, according to Peter Wilson, business manager: TNS Research Surveys Client Services. “I have seen very little evidence of shopper research finding its way into retail trade by way of a coherent shopper strategy,” says Marne Dirks, MD, Executrac. A lot of rich shopper and activation insights never make it into the store, due to a lack of execution capabilities.

“Research firms tend to complicate research feedback in this area and I have seen as many as 18 shopper demographic profiles for one FMCG company in the same channel, making it near impossible for a sales rep to execute a strategy,” says Dirks. Classifications should be kept to a simple two to three shopper types per channel, based on in-store observation.

It should also be kept in mind that a store owner is the best source of free information about the shopper, category routes and pricing levers, so working more closely with them will provide simpler, more cost-effective insights. Shopper research: step by step Shopper research begins by understanding what happens before the shopper enters the store. At this stage, the researcher is investigating the brand equity pre-disposition (whether the shopper has a positive perception of the brand, as created by previous consumption and advertising), as well the different shopping missions that the shopper plans and their impact on in-store behaviour. The next stage of shopper research investigates how the shopping mission has motivated the choice of store, the behaviour in the store and the impact of different marketing media and messages. As says Kristina Couzyn, director: Shopper Marketing, Ogilvy, it’s overly simplistic to say that 70 per cent of decisions are made

at the point of sale without understanding what kinds of decisions are made.

The experience of the shopper both before and during the shopping process as well as during consumption post-shopping will feed back into the pre-shop motivations, and will inform future shopping missions and decisions.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

New technologyREFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY The use of technologies like infrared

The use of technologies like infrared and radio frequency identification (RFID) have not seen extensive rollout locally. “SA is essentially a follower in terms of international technology developments. We do not anticipate much before 2011,” says Broughton.

Coca-Cola SA, however, is reportedly using GPS trackers in trolleys to get maximum exposure in-store by tailoring its execution standards by channel, geography and shopper type. This allows Coca-Cola to ensure that the correct brand and pack mix is available at the correct price and is communicated effectively in every outlet. “This means moving away from a one-size fits all approach into a segmented approach where the picture of success is altered for every outlet based on the variables. The caveat, as always, is the capability of the sales and trade marketing folk to execute against multiple pictures of success in various outlets,” says Dirks. The ultimate goal will be for South African companies to manage day part marketing on this level.

companies to manage day part marketing on this level. Radio Frequency Identification RFID tracking sees the

Radio Frequency Identification

RFID tracking sees the trolley being fitted with a device which tracks its path through the store, as well as registering where the shopper lingers and for how long. This is helpful in identifying the store hot spots from the shopper’s perspective.

the store hot spots from the shopper’s perspective. Infrared-assisted research Infrared technology was used by

Infrared-assisted research

Infrared technology was used by Nielsen’s US offices in the PRISM project to provide traffic counts for different parts of a store; this allows the store to be rated a medium for marketing. However, the project has been shelved due to lack of funding (Wal-Mart pulled out of the project in late 2008, according to reports on www.adadge.com).

in late 2008, according to reports on www.adadge.com). Video mining In the US, technology that was

Video mining

In the US, technology that was developed by homeland security is being used to ‘watch’ video recordings of the shopper in action and anonymously record their demographics, while also analysing which store elements the shopper engages with (www.videomining.com). However, shopper privacy is an issue.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Eye-trackingREFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY Eye-tracking could be useful for understanding

Eye-tracking could be useful for understanding what the shopper sees in the store. But researchers say that there is a disconnect between what the shopper looks at and what that actually does for decision-making in the store. This form of observation must be layered with other methodologies for better insights.

be layered with other methodologies for better insights. Marketing at Retail Initiative (MARI ) research MARI

Marketing at Retail Initiative (MARI ) research

MARI research is endorsed by the Point of Purchase Association (POPAI), which has been established locally (www.popai.co.za). The MARI research aims to measure engagement with in-store media and marketing messages. A sample of shoppers is fitted with a clipcam (surgical camera, attached to their glasses, or a dummy pair of glasses). This camera records what the shopper sees, and which brands and marketing messages they interact with, to determine what sort of marketing works and where it is best situated in the store.

There are concerns, however, that the cameras will impact shopper behaviour and will compromise the research.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

CURRENT TRENDS AND CHALLENGES
CURRENT TRENDS AND CHALLENGES

T

changing the terms of an

increase in retail marketing sp end even as

consumers tighten their purse strin gs and overall marketing budgets shrink. This dicho tomy has ome about as the realisation of the ‘mo ment of truth’

environment.

However, in light of the current eco nomic climate, there will need to be much more re tail marketing

and shopper insight research carrie d out to push brand sales. “If we review w hat is happening in the US and use this a s the base case, pend within the retail mar keting environment will continue to inc rease year on

ear,” says Elton Scheepers,

udgets shrinking, the tre nd is moving towards more tactical

campaigns, though not nece ssarily at the expense of above-the-line b randing. “With

ver 60 per cent of shopper

decisions being made in the outlet, this t rend is here to

tay. As always, when volu me and profitability come under thre at from weak

way into the

economic conditions, mor e knee-jerk-type activities find their

ith marketing below-the-line

activities find their ith marketing below-the-line The current economic recession is retail marketing

The current economic recession is retail marketing environment in

drives more focus into the retail

commercial business director, Todwil. W

marketplace,” says Scheep ers. Manufacturers too, are trying to c ut their costs. Marne Dirks, MD, Executra c, finds that to keep margins intact, man ufacturers are

focusing on making busines s processes more efficient and cutting co sts, although it

seems to have only a limited in fuel prices. Retailers are profit targets and retaining

impact. The only bright light on the hori zon is the drop

while meeting

also under severe pressure to cut costs

shopper loyalty. Reports (www.tradeint elligence.co.za)

indicate that retailers had b etter than expected December trade, but that January is off to a slow start. The bo ttom line is that this year will be toug h. To maintain

right shopping

environment; service deliv ery is key, and a simpler, more plea sant shopping

experience must be created.

profits, stores are going t o have to work hard at creating the

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Brands and retailers are going to have to work more closely together as a key component in maintaining profits for both parties is to keep the shelves stocked with the right brands, at the right price. All too often, shoppers are faced with empty shelves and products missing for inordinate amounts of time, eroding loyalty and confidence in product, brand and retailer. Stephen Mawby, managing director of Glendinning Management Consultants, compares SA’s retail market to those of more developed countries, where the average store product range is very complex, and all aspects of the service and supply chain have been refined. Locally, he says, there are still issues around supply, store range, store layout and so on; retailers need to drive the research that exposes the weak spots and highlight new opportunities. As stores try to achieve this, we may see continued focus on ready to eat, prepared meals, and also on healthy or organic foods; however, pricing needs to be carefully considered (even premium shoppers will be cutting back and looking for value).

Another result of the tightening of purse strings will see the loyalty of high-end retail shoppers being eroded as they switch to mid-range.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

C OMPANY PROFILE
C OMPANY PROFILE

T

with presence

across multiple lines of busi nesses. The company owns and manages multiple retail formats that cater to a wide cross-section of the Indian society and is able to capture almost the entire consump tion basket of the Indian consumer. He adquartered in Mumbai (Bombay), the com pany operates through 5 million squar e feet of retail space, has over 331 stores a cross 40 cities in India and employs over 17,000 people. The company registered a tu rnover of Rest 2,019 crore for FY 2007-0 8

Pantaloon Retail (India) Li mited, is India's leading retail company

It owns and operates multip le retail formats including Pantaloons, Bi g Bazaar, Food Bazaar, Central, E-Zone, Fas hion Station, Depot and many others.

Pantaloon Retail forayed in to modern retail in 1997 with the launc hing of fashion

a hypermarket

chain that combines the lo ok and feel of Indian bazaars, with aspe cts of modern

retail, like choice, convenie nce and hygiene. Food Bazaar, food and

and launch Central, a first Indian cities, followed this.

Some of its other formats include, Coll ection i (home

improvement products), E-Z one (consumer electronics), Depot (boo ks, music, gifts

Shoe Factory

(footwear) and Blue Sky (fa shion accessories). It has recently launch ed its retailing venture, futurebazaar.com.

and stationary), All (fashi on apparel for plus-size individuals),

retail chain, Pantaloons in K olkata. In 2001, it launched Big Bazaar,

grocery chain heart of major

of its kind seamless mall located in the

The group's subsidiary co mpanies include, Home Solutions Re tail India Ltd,

Clothing. The

group also has joint venture companies with a number of partners in cluding French

Pantaloon Industries Ltd, G alaxy Entertainment and Indus League

retailer Etam group, Lee Co oper, Manipal Healthcare, Jaywalker’s, G ini & Jony and

a group company owns the franchisee o f international

brands like Marks & Spencer , Debenhams, Next and Guess in India.

Liberty Shoes. Planet Retail,

Pantaloon Retail is listed o n BSE and NSE with a turnover of Rs 2, 018 crores for financial year ended 2007- 08. Pantaloon Retail was selected as th e Best of Best Retailers in Asia by Retail As ia-Pacific Top 500 magazine in 2006.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Pantaloon Retail is the flagship enterprise of the Future Group, which is positioned to cater to the entire Indian consumption space. The Future Group operates through six verticals: Future Retail (encompassing all retail businesses), Future Capital (financial products and services), Future Brands (management of all brands owned or managed by group companies), Future Space (management of retail real estate), Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media).

Future Capital Holdings, the group's financial arm, focuses on asset management and consumer finance. It manages two real estate investment funds (Horizon and Kshitij) and consumer-related private equity fund, Indecision. It also plans to get into insurance, consumer credit and other consumer-related financial products and services in the near future.

Future Group's vision is to, "Deliver Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner." One of the core values at Future Group is, 'Indian’s' and its corporate credo is - Rewrite rules, Retain values.

Future Group Manifesto

“Future” – the word which signifies optimism, growth, achievement, strength, beauty, rewards and perfection. Future encourages us to explore areas yet unexplored, write rules yet unwritten; create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and re-learn, our ability to evolve.

We, in Future Group, will not wait for the Future to unfold itself but create future scenarios in the consumer space and facilitate consumption because consumption is development. Thereby, we will effect socio-economic development for our customers, employees, shareholders, associates and partners.

Our customers will not just get what they need, but also get them where, how and when they need.

We will not just post satisfactory results, we will write success stories.

We will not just operate efficiently in the Indian economy, we will evolve it.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

We will not just spot trends; we will set trends by marrying our understanding of the Indian consumer to their needs of tomorrow.

It is this understanding that has helped us succeed. And it is this that will help us succeed in the Future. We shall keep relearning. And in this process, do just one thing.

Big Bazaar is a chain of shopping malls in India currently with 29 outlets, owned by the Pantaloon Group. It works on same the economy model as Wal-Mart and has had considerable success in many Indian cities and small towns. The idea was pioneered by entrepreneur Kishore Biyani, the head of Pantaloon Retail India Ltd.

Big

entertainment.

Bazaar

stores

in

Metros

have

Cities where stores are located are,

a

gaming

area

and

kids

play

area

for

Agra, Ahmadabad, Allahabad, Ambala, Asansol, Bangalore, Bhubaneswar, Chennai, Coimbatore,Palakkad, Kolkata, Delhi, Durgapur, Ghaziabad, Gurgaon,Hyderabad, Indore, Lucknow,Kanpur, Mangalore, Mumbai, Nagpur, Nasik, Panipat, Pune, Rajkot, Surat, Thane, Thiruvananthapuram, Vishakhapatnam.

Big Bazaar is not just another hypermarket. It caters to every need of customer’s family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers.

At Big Bazaar, customer will definitely get the best products at the best prices -- that’s what Big Bazaar guarantee. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at prices that will surprise customer. And this is just the beginning. Big Bazaar plans to add much more to complete customers shopping experience.

Big Bazaar is a chain of shopping malls in India currently with 29 outlets, owned by the Pantaloon Group. It works on it the economy model as Wal-Mart and has had considerable success in many Indian cities and small towns. The idea was pioneered by entrepreneur Kishore Biyani, the head of Pantaloon Retail India Ltd.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

Big

Bazaar

stores

entertainment.

in

Metros

have

Cities where stores are located:

a

gaming

area

and

kids

play

area

for

Agra, Ahmedabad, Allahabad Ambala Asansol Bangalore Bhubaneswar Chennai Coimbatore Palakkad Kolkata Delhi Durgapur Ghaziabad Gurgaon Hyderabad Indore Lucknow Kanpur Mangalore Mumbai Nagpur Nasik Panipat Pune Rajkot Ranchi Surat Thane Thiruvananthapuram Vishakhapatnam

Big Bazaar is not just another hypermarket. It caters to every need of customer’s family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers.

At Big Bazaar, customer will definitely get the best products at the best prices -- that’s what Big Bazaar guarantee. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at prices that will surprise customer. And this is just the beginning. Big Bazaar plans to add much more to complete customers shopping experience.

Big Bazaar is Indian personification of retail. It’s like an Indian bazaar or mandi or mela, the environment created by traders to give shoppers a sense of moment. Its personality is of being an entity away from fancy or pretty and being authentically "no-frills". Kishore Biyani never hired any foreign consultant for Big Bazaar which is evident from Indian-specific personality of the brand. The brand’s personality is self-explanatory by its tag-line only. This statement places Big Bazaar at the top of customer’s mind. It reflects that entrepreneurship and simplicity are the essence of character of Big Bazaar. To use predatory pricing is not in the personality of Big Bazaar, they never sell goods below the price they have purchased it. Big Bazaar, the "Indian Wal-Mart", is the modern Indian family's favorite store. Big Bazaar symbolizes modern retail, the business which isn’t looked up to in our country, is now in the eyes of many multi-national biggies. Big Bazaar has shown a robust growth in recent years.

We have a store opening virtually every fortnight; I have lost count now of how many I have opened."

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- Kishore Biyani

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

BIG BAZAAR : Positioning & Establishment
BIG BAZAAR : Positioning & Establishment

TABLE OF Big Bazaar has established

Customer Value Matrix. Th e SWOT Analysis of current strategy

elaborates the core compete encies and areas of improvement. The ke y features that

of Big Bazaar

itself in the first quadrant of Organizat ion Value and

have shaped in establishing of brand includes: -

• Big Bazaar ensures that

considerable discount comp ared to its own price. This helped Big B azaar in being

the "value for money" store.

no other kirana store / departmental sto re are offering

• Big Bazaar scores high on product mix as compared to kirana store.

• Cheap and local products

attract lower middle class ca tegory of customers.

are heavily stocked in Big Bazaar which m ake it easier to

• Promotion of kirana is ra re event but Big Bazaar used this chann el efficiently to establish itself as national br and.

• Customer loyalty resulting

in high up sell, i.e., selling to existing cus tomers.

• Big Bazaar refrains from

budget and provides comp etitive advantage over competitors. Kish ore Biyani has taken "early movers advanta ge" in many retail spaces.

high-end locations for business which re duces its rental

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

BIG B AZAAR : 7 P's Analysis
BIG B AZAAR : 7 P's Analysis

TABLE OF 7P Analysis of Big Bazaar

7P Marketing Mix is more

industries. Successful marke ting depends on number of key issues.

issues are explained as: -

useful for services industries and knowl edge intensive

he seven keys

Product

Big Bazaar offers a wide ra nge of products which range from appar els, food, farm products, furniture, child c are, toys, etc. Products of all the maj or brands are available at Big Bazaar. Als o, there are many in house brands pr omoted by Big

Bazaar. Big Bazaar sold over

300,000 pairs of jeans, 50,000 DVD-play ers and 25,000

microwave-ovens. In all, the fashion, electronics and travel segments made up about 70% of sales. Last year, thes e categories made up only about 60%.

Price

The tag-line is "Is se sasta

economics of scale. There p ricing objective is to get "Maximum Mar ket Share". The various techniques used at B ig Bazaar are: -

aur accha aur kahin nahi". They work o n the model of

• Value Pricing (EDLP - Ev ery Day Low Pricing): Big Bazaar promi ses consumers

the lowest available price wi thout coupon clipping, waiting for discou nt promotions, or comparison shopping.

• Promotional Pricing: Big

of psychological discountin g (Rs. 99, Rs. 49, etc.) is used as promo tional tool. Big Bazaar also caters on Specia l Event Pricing (Close to Diwali, Gudi Pa dva, and Durga

Pooja).

Bazaar offers financing at low interest rat e. The concept

e pricing, i.e., difference in rate based on peak and non-

peak hours or days of shop ping is also a pricing technique used i n Indian retail, which is aggressively used b y Big Bazaar.

• Differentiated Pricing: Tim

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

• Bundling: Selling combo-packs and offering discount to customers. The combo- packs add value to customer.

Place

• Big Bazaar stores are located in 50 cities with 75 outlets. Big Bazaar has presence

in almost all the major Indian cities. They are aggressive on their expansion plans.

Promotion

Big Bazaar started many new and innovative cross-sell and up-sell strategies in Indian retail market. The various promotion techniques used at Big Bazaar include "saal ke sabse saste teen din", Future Card (the card offers 3% discount), Shakti Card,

Brand Endorsement by M. S. Dhoni, Exchange Offer - ‘Junk Swap Offer’, Point-of- Purchase Promotions.

Advertising has played a crucial role in building of the brand. Big Bazaar advertisements are seen in print media, TV, Radio (FM) and road-side bill-boards.

People

They are one of the key assets for any organization. The salient features of staff of Big Bazaar are: -

• Well-trained staff, the staff employed by Big-Bazaar are well-suited for modern retail.

• Well-dressed staff improves the overall appearance of store.

• Employees are motivated to think out-of-the-box. Retail sector is in growth stage, so staff is empowered to take innovative steps.

• Employs close to 10,000 people and recruits nearly 500 people every month.

• Use of technology like scenario planning for decision making.

• Multiple counters for payment, staff at store to keep baggage and security guards at every gate, makes for a customer-friendly atmosphere.

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Process COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER

Process

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

The goods' dispatch and pur chasing area has certain salient features which include:

-

Multiple counters with tro lleys to carry the items purchased.

Proper display / posters o f the place like (DAL, SOAP, etc.).

Home delivery counters al so started at many places.

Physical Evidence

It deals with the final deliv erable or the display of written facts. Th is includes the current system and availabl e facilities.

STUDY STORE
STUDY STORE

TABLE OF

BIG BAZAAR

NEAR RANCHI CLUB

M .G. ROAD RANCHI - 834001

This store is of 5 floor and There are 47 departments in

divided into 5 levels based on the natu re of products. this store and 534 Human Resource emp loyed.

As this store is big enough w ith 5 levels and 47 departments has long product range

and product depth. Ones a

products available that may be Food item, Cosmetic, Electronic, Garm ents, Furniture

etc.

customer get inside the store he will fi nd all kinds of

Because of these features it has a very good reputation in that area and customers who are residing far away a nd in other areas they also visit the store.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

STUDY STO RE : Organisational Structure
STUDY STO RE : Organisational Structure

TABLE OF

President Vice - President Marketing Category HR Manager Finance Manager Operation Head Manager Manager Marketing
President
Vice - President
Marketing
Category
HR Manager
Finance Manager
Operation Head
Manager
Manager
Marketing Head
HR Head
Finance Head
Category Head
Store M anager
Asst Store
Manager
Dept Manager
Human Resource
Visual
manger
Merchandise
Asst. HR
Administration
Information Department Manager
Technology
Cashing
Marketing
Customer
Service Desk
Management Thesis – 1 | 3 rd Semester

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

RESE ARCH METHODOLOGY
RESE ARCH METHODOLOGY

TABLE OF Since the study is on retail s ector first the detail study of the store is b een conducted about its Management tea m its structure the number of departm ents which all brands does the store has, w ho are its suppliers about its warehouses .

on objectives a

set of 100 questionnaires w ere designed of 10 questions and respo nse is collected

from the customers who

Convenient sampling metho d was adopted

are visiting the store. For data colle ction Random

Based on the topic objectiv es were set and to arrive at the opinion

For this project the area of r esearch is M.G Road.

OBJE CTIVE OF THE THESIS
OBJE CTIVE OF THE THESIS

TABLE OF To know the effective Mark eting Strategy which influence customer product of Big Bazaar in com parison to other retail company.

to purchase a

DATA COLLECTION METHOD
DATA COLLECTION METHOD

TABLE OF Market research requires t wo types of data i.e. secondary data and

Primary data has been

questionnaires were prepa red & the survey was undertaken. Fee dback for the

done to gather

primary data. Well-structured

used

abundantly

for

the

study.

display has been taken by a sking questions & observation has also primary information.

There is also a use of second ary data, collected from the various journ als, books, and websites & from company m anagers.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

Primary data

Secondary data

Area of research

Research approach

: Field Survey

: Big Bazaar records

Text Books and journals

Company Websites

: M.G. ROAD

: Survey method

S AMPLING METHOD
S AMPLING METHOD

TABLE OF Since the study is restricted

to Retail sector, all the functional Depa rtments of Big

Bazaar and the responden ts are found at the store only so acc ording to the

convenience randomly they study is Random Convenient

is used in this

are being picked so sampling method Sampling.

Sample size

:

1 00 respondents

Sampling Method

:

R andom Convenience sampling

Sample Unit

:

C ustomer of Big bazaar

Measuring Tool

:

Q uestionnaire

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

ANALY SIS & INTERPRETATION
ANALY SIS & INTERPRETATION

TABLE OF Q No 1: Which store first c omes to your mind when you think of product?

purchasing a

RESPONSE

N O OF RESPONDENTS

PERCENTAGE

Big bazaar

7

7

77%

Vishal Mega Mart

1

5

15%

Others retailer

8

8%

Total

1

00

100%

90% 80% 70% 60% 50% 40% Series1 77% 30% 20% 10% 15% 8% 0% Big
90%
80%
70%
60%
50%
40%
Series1
77%
30%
20%
10%
15%
8%
0%
Big bazaar
Vishal
mega mart
Others retailer

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ANALYSIS: COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER

ANALYSIS:

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

From the survey, from 100

INTERPRETATION

respondents, 77% of them gave 1st pre ference to Big

Bazaar 15% of them gave

preference to Vishal Mega Mart and 8%

were gave to

other retailer .

Most of the customers are retailers

given 1st preference to Big Bazaar com

pare to other

Q No 2: From which source

did you come to know about Big Baza ar outlet.

RESPONSE

N O OF RESPONDENT

 

PERCENTAGE

T .V Advertisement

2

3

 

23%

Hoardings

3

4

 

34%

News paper

3

1

 

31%

Buspaintings

1

2

 

12%

Total

1

00

 

100%

 

3

4%

 

31%

23%

 

12%

 
 
  Se ries1

Se ries1

 
   
 
   
   

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OTHER RETAIL COMPANY

ANALYSIS:

From the above graph i can come to know that, among 100 respondents, 23% of them come to know about Big Bazaar through TV advt., 34% of the respondents told that through Hoardings, 31% of them through news paper , and 12% came to know through bus painting

INTERPRETATION:

Hoarding is the most influencing factor which is responsible for awareness of Big Bazaar.

Q No 3: Are you aware of promotional offers conducted by big bazaar?

Response

No of respondents

Percentage

Yes

87

87%

No

13

13%

Total

100

100%

100% 90% 80% 70% 60% 50% 87% Series1 40% 30% 20% 10% 13% 0% Yes
100%
90%
80%
70%
60%
50%
87%
Series1
40%
30%
20%
10%
13%
0%
Yes
No
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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

ANALYSIS:

Among the 100 respondent s, 87% of them they are aware of prom otional offers, 13% told they have told that they are not aware.

INTERPRETATION:

87% of customers are aware

of promotional activity in the big bazaar.

Q No 4: Please choose below the factor which attracted you most at th e Big Bazaar.

Rates

No of respondents

percentag e

Offer

51

51%

Service

9

9%

Quality

23

23%

Availability of prod ucts

17

17%

Total

100

100%

60% 51% 50% 40% 30% 23% Se 17% 20% 9% 10% 0% Offer Service Quality
60%
51%
50%
40%
30%
23%
Se
17%
20%
9%
10%
0%
Offer
Service
Quality
Availability
of products

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

Analysis:

Among 100 respondent 51 % of customer they have told that they a re attracted by

the offers and 9% of them t old that they are attracted by service an d 23% of them

told that they are attracted availability of products

that only for

by quality and only 17% of them told

Interpretation:

Most of the people attracted

offer is the most influencing factor among those.

towards big bazaar only for the promot ional offers. So

Q No 5: Which of the follow ing factors influence in your purchase decision?

Rates

No of respondents

percentag e

Offer

43

43%

Service

11

11%

Quality

21

21%

Effective advertise ment

25

25%

Total

100

100%

43% 45% 40% 35% 25% 30% 21% 25% 20% 11% 15% 10% 5% 0%
43%
45%
40%
35%
25%
30%
21%
25%
20%
11%
15%
10%
5%
0%

Se ries1

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

ANALYSIS:

Among 100 respondent 43 decision and 9 of them told

of them told that effective ad vertisement

of them told that offer is responsible for their purchase

that service and 23 of them told that qual ity and only 25

INTERPRETATION:

Among those factor offer is decision of buyers

Q No 6: Do you think the message?

the emerging factor which is responsibl e for purchase

promotional activity of Big Bazaar gi ves you clear

Response

No of respondents

Percentag e

Yes

77

77%

No

23

23%

Total

100

100%

7 7% 80% 70% 60% 50% 40% 23% 30% 20% 10% 0% Yes No
7
7%
80%
70%
60%
50%
40%
23%
30%
20%
10%
0%
Yes
No

Se ries1

ANALYSIS:

Among 100 respondent 77 o f them told that the promotional activitie s of big bazaar gives clear message and 23 o f them told that they do not understood.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

INTEPRETATION:

Most of the people highly ag ree that promotional activity of big bazaa r gives clear message

Q No: Will you advise anyb ody to visit Big Bazaar in your future s hopping?

Response

No of respondents

Percentag e

Yes

98

98%

No

2

2%

Total

100

100%

98% 100% 90% 80% 70% 60% Series1 50% 40% 30% 20% 2% 10% 0% Yes
98%
100%
90%
80%
70%
60%
Series1
50%
40%
30%
20%
2%
10%
0%
Yes
No

ANALYSIS:

Among 100 respondents 98 of them told that they will advise others t o visit big bazaar in future shopping an d only 2 of them told that they do not adv ise.

INTEPRETATION:

Most of the respondent they would like to advise others in future shop ping.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

Q No: Looking at the prom otions of Big Bazaar does your purchas e pattern changes?

Response

No of respondents

Percentag e

Yes

83

83%

No

17

17%

Total

100

100%

83% 90% 80% 70% 60% 50% Series1 40% 30% 17% 20% 10% 0% 1 2
83%
90%
80%
70%
60%
50%
Series1
40%
30%
17%
20%
10%
0%
1
2

ANALYSIS:

Among 100 respondent 83 o f them told that these promotional offers changes their purchase pattern and only 1 7 of them told do not change.

INTERPRETATION:

Most of the customer believe d that promotions is responsible for thei r purchase decision.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

Q No 9: Would you like to

make your purchase under unexpected offers?

Response

No of respondents

Percentag e

Yes

94

94%

No

6

6%

Total

100

100%

94% 100% 90% 80% 70% 60% Series1 50% 40% 30% 20% 6% 10% 0% Yes
94%
100%
90%
80%
70%
60%
Series1
50%
40%
30%
20%
6%
10%
0%
Yes
No

ANALYSIS:

Among 100 respondents 94 of them they are interested to buy produc ts under

unexpected offers and only 6

of them told that they do not buy.

INTERPRETATION:

Most of the customer interes ted to buy under unexpected offers only.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

SURVEY FINDINGS
SURVEY FINDINGS

TABLE OF

From the sample siz e of 100 samples it is found that the

Brand is well

positioned in the m inds of customers because 77% of th e respondent’s preference is Big Baza ar for their shopping.

Among 100 respond ents, 23% of people told that 1st they

came to know

through T V advertis ement and 34% of people told that thro ugh hoardings

31% of them told th at through news paper and finally 12% agree that through bu s painting.

of them highly

Among the 100 resp ondents, 87% of them told that they

promotional activities

aware of promotional activity of big bazaar .

are aware of

of big bazaar .only 13% of them told th at they are not

Among the 100 respo ndent 51% of them told that they are att racted towards

big bazaar only for th e offers 9% of them told that service an d 23% of them

told that quality an d only 17% of them told that due to products

availability of

Among 100 respond ent 43% of them agree that offers is the

most emerging

factor influencing pur chase decision and only 11% of them to ld that service

21% of told that q uality and finally 25% of them told advertisement is resp onsible for the purchase decision.

that effective

Among 100 responde nt 77% of them told that promotional a ctivities of big

they did not

bazaar gives clear understood.

message

and

23%

of

them

told

that

Among 100 respond ent 98% of people interest to advise ot hers in future

shopping and only 2%

of them not interest to advice.

Among 100 responde nt 83% them told that promotions of big

bazaar changes

their purchase patter n and only 17% told that does not change s.

Among 100 respond ent 94% of them told that they are int erested to buy products under unexp ected offers and 6% of told that they do n ot buy.

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

CONCLUSION
CONCLUSION

TABLE OF Indian retail sector is witne ssing one of the most hectic Marketing times. The companies are fi ghting to win the hearts of customer who the business tycoons. Ther e is always a ‘first mover advantage’ in

activities of all is God said by an upcoming

sector. In India, that advant age goes to “BIG BAZAAR”. It has broug ht about many changes in the buying habi ts of people. It has created formats, wh ich provide all items less than one roof at lo w rates.

The consumer’s preference s are changing & they are moving fro m Traditional

Modern retail

ers towards them from that of competi tors. To attract have to carry out the promotional activ ities in unique

way. BIG BAZAAR has mai ntained that uniqueness & has succeede d in attracting

Kirana stores to Modern Re tail outlet. It’s the main challenge to the

outlets to attract the custom more customers companies

customers.

The promotional activity of the company, which famous as Less Price than others as

f customer. As

the competition is becomin g stiff in the market the activities con ducted by the company are unique, that h ave brought fruitful result to the compan y. Among them sales Promotions is one of th e leading activity or unique among all ot her activities & has high influence on the cu stomer walk-in.

it says ‘Nobody Sells Cheape r and Better!’ is made its place in minds

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COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL

COMPARATIVE STUDY OF MARKETING STRATEGY REFERENCE TO 4PS OF BIG BAZAR & OT HER RETAIL COMPANY

BIBLIOGRAPHY
BIBLIOGRAPHY

TABLE OF

• Buyer

Behavior:

http p://buyerbehaviour.blogspot.com/2008/ 01/big-bazaar-

freedom-sale-change- in.html

• Indian

Retail

Scen ario:

http://www.slideshare.net/theRe dIndian/india-

retail-2008-big-bazaa

r-scenario/

• Wikipedia: www.wiki pedia.org

• "IT Happened in India " by Kishore Biyani

• "From Brand Vision

to Brand Evaluation: The Strategic Proc ess of Growing

and Strengthening Br ands" by Leslie de Chernatony

• Kunde Model: http:// www.kunde-co.com/Default.aspx?ID=325

• Economic Times: ww w.economicstimes.com

Marketing Manageme nt: Philip Kotler

Advertising and Sales : Promotion Belch and Belch

Retail Management: B ajaj and Srivastav

Research Methodolog y: Cooper and Schindler

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