Management Thesis Mba

Management Thesis – 1 | 3rd Semester

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

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.

Management Thesis – 1 | 3rd Semester

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

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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Management Thesis – 1 | 3rd Semester

ABSTRACT

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

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 inplant 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.

Management Thesis – 1 | 3rd Semester

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 & OTHER RETAIL COMPANY

TABLE OF CONTENTS

1. BASIC OF MARKETING

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2. INTRODUCTION ION TO RETAIL

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Page 21

3. RETAILING INDUSTRY IN INDIA

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Page 28

4. SHOPPER INTELLIGENCE

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Page 29

5. CURRENT TRENDS AND CHALLENGES

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Page 33

6. COMPANY PROFILE

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Page 35

7. BIG BAZAAR : Positioning & Establishment Establishment…………….

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8. BIG BAZAAR : 7 P’ss Analysis

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Page 40

9. STUDY STORE

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Page 42

10. STUDY STORE : Organisational Structure

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Page 43

11. RESEARCH METHODOLOGY

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Page44

12. OBJECTIVE OF THE THESIS

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13. DATA COLLECTION METHOD

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14. SAMPLING METHOD

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15. ANALYSIS NALYSIS & INTERPRETATION

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16. SURVEY FINDINGS

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17. CONCLUSION

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18. BIBLIOGRAPHY

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Management Thesis – 1 | 3rd Semester

TABLE OF CO

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

BASIC OF MARKETING TABLE OF CONTENTS

The practice of marketing is almost as old as humanity itself. A Market was originally simply a gathering place where people with a supply of items or capacity to perform a service could meet with those who might desire the items or services, perhaps at a pre-arranged arranged time. Such meetings embodied many aspects of today's marketing methods, although sometimes in an informal way. Sellers and buyers sought to understand each other's needs, capacities, and psychology, all with the goal of getting the exchange of items or services to take place. Today's New York Stock Exchange had its humble beginnings as an open air market located at Wall Street in New York City. The rise of Agriculture undoubtedly influenced markets as the earliest means mea of 'mass production' of an item, namely foodstuffs. As agriculture allowed one to grow more food than could be eaten by the grower alone, and most food is perishable, there was likely motivation to seek out others who could use the excess food, before itt spoiled, in exchange for other items. In 1960 Theodore Levitt wrote a journal article called Marketing Myopia. This is said to have really begun the marketing craze. In it he discussed that the big manufacturing industries at the time were misinterpretin misinterpreting g what industry they were part of. He stated that until you fully understood the industry you were part of you were likely to fail. For example the rail industry was not in the business of rail transport but in the industry of transport in general they wer weree still competing with the likes of cars and public transport. Levitt is said to be one of the founders of the marketing discipline, and contributed to the making of the 4Ps framework that transactional marketing is based around. A little bit of marketing theory... All it takes is a little theory practiced and applied, and soon you will find that marketing comes naturally. Marketing is more than sales. Marketing is the set of activities used to 1. Get your potential custome customer's attention 2. Motivate them to buy 3. Get them to actually buy Page |6

Management Thesis – 1 | 3rd Semester

HISTORY

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

Product 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)."

It is more important to be descriptive than creative. 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.

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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Management Thesis – 1 | 3rd Semester

Product Name

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

Product Adaptability

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. Page |8

Management Thesis – 1 | 3rd Semester

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.

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.

Environment 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)?

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.

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 Page |9

Management Thesis – 1 | 3rd Semester

Positioning Strategies

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 Differences 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.

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. P a g e | 10

Management Thesis – 1 | 3rd Semester

Place

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!

Price

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

New Product Pricing There are two new product pricing strategies:

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Management Thesis – 1 | 3rd Semester

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.

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

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

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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Management Thesis – 1 | 3rd Semester

Price Adjustment

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

Objectives 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.”

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".

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.

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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Management Thesis – 1 | 3rd Semester

Measuring Response

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 Mail 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.

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: P a g e | 14

Management Thesis – 1 | 3rd Semester

List Selection

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 nondelivery. 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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Management Thesis – 1 | 3rd Semester

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

Common Measurements •

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%.

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.

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 P a g e | 16

Management Thesis – 1 | 3rd Semester

Response Mechanism

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 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.

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.

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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Management Thesis – 1 | 3rd Semester

Envelope

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

Some Tricks That Work 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.

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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Management Thesis – 1 | 3rd Semester

Classified Advertisements

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

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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Management Thesis – 1 | 3rd Semester

Press Releases

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

Product Reviews

Management Thesis – 1 | 3rd Semester

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 & OTHER RETAIL COMPANY

TABLE OF What is retailing? Retailing involves selling products and services to consumers for their personal or family use. Department stores, like Burdines and Macy's, discount stores like WalWal Mart and K-Mart, Mart, and specialty stores like The Gap, Zales Jewelers and Toys 'R' us, are all ll examples of retail stores. Service providers, like dentists, hotels and hair salons, and on-line line stores, like Amazon.com, is also retailers. Many businesses, like Home Depot, are both wholesalers and retailers because they sell to consumers and building contractors. Other businesses, like The Limited, are both manufactures and retailers. Regardless of other functions these businesses perform, they are still retailers when they interact with the final user of the product or service. Retailing consists nsists of the sale of goods or merchandise, from a fixed location such as a department store or kiosk, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services such as delivery. Purchasers may be individuals viduals or businesses. In commerce, a retailer buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells smaller quantities to the end end-user. user. Retail establishments are often called shops ops or stores. Retailers are at the end of the supply chain. Manufacturing marketers see the process of retailing as a necessary part of their overall distribution strategies. Shops may be on residential streets, or in shopping streets with few or no houses, house or in a shopping center or mall. Shopping streets may or may not be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation. Retailers often provided boardwalks in front of their stores to protect tect customers from the mud. Online retailing, also known as ee-commerce commerce is the latest form of non-shop shop retailing. Shopping generally refers to the act of buying products. Sometimes this is done to obtain necessities such as food and clothing; sometimes it is done as a recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing and does not always result in a purchase.

P a g e | 21

Management Thesis – 1 | 3rd Semester

INTRODUCTION TO RETAIL

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.

P a g e | 22

Management Thesis – 1 | 3rd Semester

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 counterservice, 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. P a g e | 23

Management Thesis – 1 | 3rd Semester

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

Why is Retailing Important? 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 P a g e | 24

Management Thesis – 1 | 3rd Semester

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.

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

Retail Strategy Planning Why Strategy? 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 P a g e | 25

Management Thesis – 1 | 3rd Semester

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 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.

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

Why Integrated Retail? 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 P a g e | 26

Management Thesis – 1 | 3rd Semester

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

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 retail and consumer businesses. Retail Summary Chart 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

Mom-and-Pop

Target Market

Products Carried

Pricing Strategy

Promotion Emphasis

mass general competitive advertising specialty specialty direct mail

Distribution

Service Level

Ownership Structure

stand-alone strip center shopping area

assorted

individually o/o

Mass Discounter

mass

General

discount

advertising

stand-alone strip-center

self

corp. chain

Warehouse Store

mass

General

discount

advertising

stand-alone

self

corp. chain

Category Killer

mass

Specialty

discount advertising competitive

stand-alone strip center

assorted

corp. chain

Department Store

specialty

General

competitive advertising

shopping area shopping mail

assorted

corp. chain

stand-alone strip center shopping area

full

individuallly o/o chain

Boutique

Catalog

e-Retailer

speciatly Specialty exclusive

full

mass general discount specialty specialty competitive

Selling

direct mail

mass general discount advertising specialty specialty competitive full Specialty competitive advertising

direct marketer assorted

corp. structure

online seller

self

corp. structure

stand-along strip center

assorted

contractual

Franchise

mass

Convenience

mass

General

full

advertising

stand-alone

self

individually o/o corp. chain

Vending

mass

Specialty

full

None

vending

self

corp. structure

P a g e | 27

Management Thesis – 1 | 3rd Semester

• •

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

RETAILING INDUSTRY IN INDIA

The retail customer of India in 21st century is different from those in 1980’s & 90’s. Retail strategies need to be continuously assessed in view of changing demographics and new buying p patterns. atterns. There is an increase in the number of small households with working couples. Their children including teenagers have high purchasing power. With emergence of call centers which employ young graduates, many of them stay in cities away from parents parents. Thus,, the purchasing power of the young has increased considerably. The increasing number of Indians working in multinational companies, frequent trips abroad, and to a certain extent the media have all played their part in increasing brand consciousness among customers. They equate brand with quality, prestige and status. Hence, retailers should strive to maintain superior quality products and enhance their brand image and store image to retain customer’s confidence and win their loyalty. In India, the retailing etailing industry is still in the growth phase, with lot of untapped potential. Existing players are expanding their operation while new players are entering the industry to tap the potential.

P a g e | 28

Management Thesis – 1 | 3rd Semester

TABLE OF It was only in late the 1980’s that organized retailing started in India. Till 1990’s the organized retailing industry was dominated by manufacturer-owned owned retail store like Raymonds, Grasim, S kumars and Bombay Dyeing. With liberalization of Indian economy in 1990 multi-national national players like Nanz entered in Indian retailing industry. Encouraged by the response to branded retail stores, Ind Indian ian entrepreneurs set up retail chains like Viveks, Nilgiris and Cotton World. Now the retailing industry is flooded with large stores, shopping malls and multiplexes. Shopper’s Stop, Lifestyle, West Side, Pantaloons, Giant, Food World, Croosword and Big Bazaar B are some of the big names in the organized retailing industry.

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

TABLE OF Specialist shopper research must be carried out to make sense of the retail environment, and to gain an understanding of what motivates the shopper’s behaviours and decisions in the store. “Global research spend allocated to retail, including the shopper, is between 15 and 20 per cent. In South Africa only five per cent of spend goes to retail, but it’s what everybody is talking about,” says Siemon Scamell-Katz, founder, TNS Magasin, and global director of TNS Retail and Shopper. The shopper retail/marketing industry is said to be worth R130 0 bn (and that’s just the FMCG categories), according to Michael Broughton, acting CEO of the Consumer Goods Council of SA (CGCSA).The good news is that there is a lot of research innovation taking place. “There are a greater number of store pilots and targeted shopper research going on. Retailers are waking up to it and they want category insights. They are thinking about their competitors,” says Andrea Ellens, associate brand director, Added Value. Shopper research can be a costly investment, so brand owners ers are encouraged to start small and be very particular about the type of research methodology used. “When companies don’t know what research to buy, we actually recommend that they begin by studying existing in in-store store data and use it to get their basics right, ight, including supply chain and merchandising. Once this has been achieved, they can start asking the more complex questions around shopper insights,” says Stephen Mawby, managing director of Glendinning Management Consultants. He points to technology and software available in the UK, which allows the marketer to input sales data obtained from the retailer, and then P a g e | 29

Management Thesis – 1 | 3rd Semester

SHOPPER INTELLIGENCE

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.

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. P a g e | 30

Management Thesis – 1 | 3rd Semester

“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.

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

New technology 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. 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.

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). 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.

P a g e | 31

Management Thesis – 1 | 3rd Semester

Infrared-assisted research

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

Eye-tracking 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. 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.

Management Thesis – 1 | 3rd Semester

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

P a g e | 32

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

CURRENT TRENDS AND CHALLENGES

The current economic recession is changing the retail marketing environment in terms of an increase in retail tail marketing spend even as consumers tighten their purse strings and overall marketing budgets shrink. This dichotomy has ome about as the realisation of the ‘moment of truth’ drives more focus into the retail environment. However, in light of the current economic climate, there will need to be much more retail marketing and shopper insight research carried out to push brand sales. “If we review what is happening in the US and use this as the base case, pend within the retail marketing environment will continue to increase year on ear,” says Elton Scheepers, commercial business director, Todwil. With marketing udgets shrinking, the trend is moving towards more tactical below-the-line below campaigns, though not necessarily at the expense of above-the-line ne branding. “With ver 60 per cent of shopper decisions being made in the outlet, this trend is here to tay. As always, when volume and profitability come under threat from weak economic conditions, more knee knee-jerk-type activities find their way into the marketplace,” says Scheepers. Manufacturers too, are trying to cut their costs. Marne Dirks, MD, Executrac, finds that to keep margins intact, manufacturers are focusing on making business processes more efficient and cutting costs, although it seems to have ve only a limited impact. The only bright light on the horizon is the drop in fuel prices. Retailers are also under severe pressure to cut costs while meeting profit targets and retaining shopper loyalty. Reports (www.tradeintelligence.co.za) indicate that retailers had better than expected December trade, but that January is off to a slow start. The bottom line is that this year will be tough. To maintain profits, stores are going to have to work hard at creating the right shopping environment; service delivery ivery is key, and a simpler, more pleasant shopping experience must be created.

P a g e | 33

Management Thesis – 1 | 3rd Semester

T

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).

Management Thesis – 1 | 3rd Semester

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.

P a g e | 34

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

COMPANY PROFILE T Pantaloon Retail (India) Limited, is India's leading retail company with presence across multiple lines of businesses. The company owns and manages multiple retail formats that cater to a wide cross cross-section of the Indian society and is able to capture almost the entire consumption basket of the Indian consumer. Headquartered in Mumbai (Bombay), the company operates through 5 million square feet of retail space, has over 331 stores across 40 cities in India and employs over 17,000 people. The company registered a turnover of Rest 2,019 crore for FY 2007 2007-08 08

Pantaloon Retail forayed into modern retail in 1997 with the launching of fashion retail chain, Pantaloons in Kolkata. In 2001, it launched Big Bazaar, a hypermarket chain that combines the look and feel of Indian bazaars, with aspects of modern retail, like choice, convenience and hy hygiene. giene. Food Bazaar, food and grocery chain and launch Central, a first of its kind seamless mall located in the heart of major Indian cities, followed this. Some of its other formats include, Collection i (home improvement products), E-Zone Zone (consumer elect electronics), ronics), Depot (books, music, gifts and stationary), All (fashion apparel for plus plus-size size individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories). It has recently launched its retailing venture, futurebazaar.com. The group's subsidiary companies include, Home Solutions Retail India Ltd, Pantaloon Industries Ltd, Galaxy Entertainment and Indus League Clothing. The group also has joint venture companies with a number of partners including French retailer Etam group, Lee Cooper, Manipal Healthcare, Jaywalker’s, Gini & Jony and Liberty Shoes. Planet Retail, a group company owns the franchisee of international brands like Marks & Spencer, Debenhams, Next and Guess in India. Pantaloon Retail is listed on BSE and NSE with a turnover of Rs 2,018 crores for financial year ended 2007-08. 08. Pantaloon Retail was selected as the Best of Best Retailers in Asia by Retail Asia Asia-Pacific Top 500 magazine in 2006. P a g e | 35

Management Thesis – 1 | 3rd Semester

It owns and operates multiple retail formats including Pantaloons, Big Bazaar, Food Bazaar, Central, E-Zone, Zone, Fashion Station, Depot and many others.

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

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.

P a g e | 36

Management Thesis – 1 | 3rd Semester

“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.

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 Bazaar stores in Metros have a gaming area and kids play area for entertainment. Cities where stores are located are, 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.

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.

P a g e | 37

Management Thesis – 1 | 3rd Semester

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.

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

Big Bazaar stores in Metros have a gaming area and kids play area for entertainment. Cities where stores are located: 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.

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." - Kishore Biyani

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Management Thesis – 1 | 3rd Semester

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.

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

BIG BAZAAR : Positioning & Establishment TABLE OF Big Bazaar has established itself in the first quadrant of Organization Value and Customer Value Matrix. The SWOT Analysis of current strategy of Big Bazaar elaborates the core competencies and areas of improvement. The key features that have shaped in establishing of brand includes: • Big Bazaar ensures that no other kirana store / departmental store are offering considerable able discount compared to its own price. This helped Big Bazaar in being the "value for money" store. • Big Bazaar scores high on product mix as compared to kirana store. • Cheap and local products are heavily stocked in Big Bazaar which make it easier to attract lower middle class category of customers. • Promotion of kirana is rare event but Big Bazaar used this channel efficiently to establish itself as national brand. • Customer loyalty resulting in high up sell, i.e., selling to existing customers. custom

Management Thesis – 1 | 3rd Semester

• Big Bazaar refrains from high high-end end locations for business which reduces its rental budget and provides competitive advantage over competitors. Kishore Biyani has taken "early movers advantage" in many retail spaces.

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

BIG BAZAAR : 7 P's Analysis TABLE OF 7P Analysis of Big Bazaar 7P Marketing Mix is more useful for services industries and knowledge intensive industries. Successful marketing depends on number of key issues. The seven keys issues are explained as: Product Big Bazaar offers a wide range of products which range from apparels, food, farm products, furniture, child ld care, toys, etc. Products of all the major brands are available at Big Bazaar.. Also, there are many in house brands promoted by Big Bazaar. Big Bazaar sold over 300,000 pairs of jeans, 50,000 DVD DVD-players layers and 25,000 microwave-ovens. ovens. In all, the fashion, electronics and travel segments made up about 70% of sales. Last year, these categories made up only about 60%. Price

• Value Pricing (EDLP - Every Day Low Pricing): Big Bazaar promises consumers the lowest available price without coupon clipping clipping,, waiting for discount promotions, or comparison shopping. • Promotional Pricing: Big Bazaar offers financing at low interest rate. The concept of psychological discounting (Rs. 99, Rs. 49, etc.) is used as promotional tool. Big Bazaar also caters on Special cial Event Pricing (Close to Diwali, Gudi Padva, and Durga Pooja). • Differentiated Pricing: Time pricing, i.e., difference in rate based on peak and nonnon peak hours or days of shopping is also a pricing technique used in Indian retail, which is aggressively used by Big Bazaar.

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Management Thesis – 1 | 3rd Semester

line is "Is se sasta aur accha aur kahin nahi". They work on the model of The tag-line economics of scale. There pricing objective is to get "Maximum Market Share". The various techniques used at Big Bazaar are: -

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

• Bundling: Selling combo-packs and offering discount to customers. The combopacks 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-ofPurchase 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

• 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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Management Thesis – 1 | 3rd Semester

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

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

Process The goods' dispatch and purchasing area has certain salient features which include: • Multiple counters with trolleys to carry the items purchased. • Proper display / posters of the place like (DAL, SOAP, etc.). • Home delivery counters also started at many places. Physical Evidence It deals with the final deliverable or the display of written facts. This includes the current system and available facilities facilities.

STUDY STORE TABLE OF BIG BAZAAR NEAR RANCHI CLUB

This store is of 5 floor and divided into 5 levels based on the nature of products. There are 47 departments epartments in this store and 534 Human Resource employed. As this store is big enough with 5 levels and 47 departments has long product range and product depth. Ones a customer get inside the store he will find all kinds of products available that may be Food item, Cosmetic, Electronic, Garments, Furniture etc. Because of these features it has a very good reputation in that area and customers who are residing far away and in other areas they also visit the store.

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Management Thesis – 1 | 3rd Semester

M.G. ROAD RANCHI - 834001

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

STUDY STORE : Organisational Structure TABLE OF President

Vice - President

Marketing Head

HR Manager

HR Head

Category Manager

Finance Manager

Finance Head

Category Head

Operation Head

Store Manager

Asst Store Manager

Dept Manager

Human Resource manger

Visual Merchandise

Asst. HR

Administration

Department Information Manager Technology

Cashing

Marketing

Customer Service Desk

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Management Thesis – 1 | 3rd Semester

Marketing Manager

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

RESEARCH METHODOLOGY TABLE OF Since the study is on retail sector first the detail study of the store is been conducted about its Management team its structure the number of departments which all brands does the store has, who are its suppliers about its warehouses. Based on the topic objectives were set and to arrive at the opinion on objectives a set of 100 questionnaires were designed of 10 questions and response is collected from the customers who are visiting the store. For data collection Random Convenient sampling method was ado adopted For this projectt the area of research is M.G Road.

OBJECTIVE OF THE THESIS

DATA COLLECTION METHOD TABLE OF Market research requires two types of data i.e. secondary data and primary data. Primary data has been used abundantly for the study. Well Well-structured questionnaires were prepared & the survey was undertaken. Feedback for the display has been taken by aski asking ng questions & observation has also done to gather primary information. There is also a use of secondary data, collected from the various journals, books, and websites & from company managers.

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Management Thesis – 1 | 3rd Semester

TABLE OF To o know the effective Marketing SStrategy trategy which influence customer to purchase p a product of Big Bazaar in comparison to other retail company.

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

• Primary data • Secondary data

: :

Field Survey Big Bazaar records Text Books and journals Company Websites

• Area of research • Research approach

: :

M.G. ROAD Survey method

SAMPLING METHOD

Sample size

:

100 respondents

Sampling Method

:

Random Convenience sampling

Sample Unit

:

Customer of Big bazaar

Measuring Tool

:

Questionnaire

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Management Thesis – 1 | 3rd Semester

TABLE OF Since the study is restricted to Retail sector, all the functional Departments of Big Bazaar and the respondents are found at the store only so according to the convenience randomly they are being picked so sampling method is used in this study is Random Convenient Sampling.

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

ANALYSIS & INTERPRETATION TABLE OF Q No 1: Which store first comes to your mind when you think of purchasing a product? RESPONSE

NO OF RESPONDENTS

PERCENTAGE

Big bazaar

77

77%

Vishal Mega Mart

15

15%

Others retailer

8

8%

Total

100

100%

90% 80% 70%

50% 40%

Series1

77%

30% 20% 10%

15%

0% Big bazaar

Vishal mega mart

8% Others retailer

P a g e | 46

Management Thesis – 1 | 3rd Semester

60%

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

ANALYSIS: From the survey, from 100 respondents, 77% of them gave 1st preference to Big Bazaar 15% of them gave preference to Vishal Mega Mart and 8% were gave to other retailer . INTERPRETATION Most of the customers are given 1st preference to Big Bazaar compare to other retailers Q No 2: From which source did you come to know about Big Bazaar outlet. RESPONSE

NO O OF RESPONDENT

PERCENTAGE

T .V Advertisement

23

23%

Hoardings

34

34%

News paper

31

31%

Buspaintings

12

12%

Total

100

100%

34%

31%

23% 12% Series1

P a g e | 47

Management Thesis – 1 | 3rd Semester

35% 30% 25% 20% 15% 10% 5% 0%

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? No of respondents

Percentage

Yes

87

87%

No

13

13%

Total

100

100%

Response

100% 90%

70% 60% 50% 40%

Series1

87%

30% 20% 10%

13%

0% Yes

No

P a g e | 48

Management Thesis – 1 | 3rd Semester

80%

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

ANALYSIS: Among the 100 respondents, 87% of them they are aware of promotional 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 the Big Bazaar. Rates

No of respondents

percentage

Offer

51

51%

Service

9

9%

Quality

23

23%

Availability of products

17

17%

Total

100

100%

60%

51%

40% 30%

23% 17%

20% 9% 10% 0% Offer

Service

Quality

P a g e | 49

Availability of products

Series1

Management Thesis – 1 | 3rd Semester

50%

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

Analysis: Among 100 respondent 51% of customer they have told that they are attracted by the offers and 9% of them hem told that they are attracted by service and 23% of them told that they are attracted by quality and only 17% of them told that only for availability of products Interpretation: Most of the people attracted towards big bazaar only for the promotional offers. of So offer is the most influencing factor among those. Q No 5: Which of the following factors influence in your purchase decision? Rates

No of respondents

percentage

Offer

43

43%

Service

11

11%

Quality

21

21%

25

25%

100

100%

Effective advertisement Total

21%

25%

11% Series1

P a g e | 50

Management Thesis – 1 | 3rd Semester

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

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

ANALYSIS: Among 100 respondent 43 of them told that offer is responsible for their purchase decision and 9 of them told that serv service ice and 23 of them told that quality and only 25 of them told that effective advertisement INTERPRETATION: Among those factor offer is the emerging factor which is responsible for purchase decision of buyers Q No 6: Do you think the promotional activity of Big Baza Bazaar ar gives you clear message? Response

No of respondents

Percentage

Yes

77

77%

No

23

23%

Total

100

100%

77% 80% 70% 60% 50% 23%

30% 20% 10% 0% Yes

No

ANALYSIS: Among 100 respondent 77 of them told that the promotional activities of big bazaar gives clear message and 23 of them told that they do not understood.

P a g e | 51

Management Thesis – 1 | 3rd Semester

Series1

40%

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

INTEPRETATION: Most of the people highly agree that promotional aactivity ctivity of big bazaar gives clear message Q No: Will you advise anybody to visit Big Bazaar in your future shopping? shopping Response

No of respondents

Percentage

Yes

98

98%

No

2

2%

Total

100

100%

98% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

Series1

2%

No

ANALYSIS: Among 100 respondents 98 of them told that they will advise others to visit big bazaar in future shopping and only 2 of them told that they do not advise. INTEPRETATION: Most of the respondent they would like to advise others in future shopping. shopping

P a g e | 52

Management Thesis – 1 | 3rd Semester

Yes

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

Q No: Looking at the promotions of Big Bazaar does your purchase pattern changes?

90%

Response

No of respondents

Percentage

Yes

83

83%

No

17

17%

Total

100

100%

83%

80% 70% 60% 50%

Series1

40% 30%

17%

20% 10% 0% 2

ANALYSIS: Among 100 respondent 83 of them told that these promotional offers changes their purchase pattern and only 17 of them told do not change. INTERPRETATION: Most of the customer believed ed that promotions is responsible for their purchase decision.

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Management Thesis – 1 | 3rd Semester

1

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

Q No 9: Would ould you like to make your purchase under unexpected offers? Response

No of respondents

Percentage

Yes

94

94%

No

6

6%

Total

100

100%

94% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

Series1

6%

No

ANALYSIS: Among 100 respondents 94 of them they are interested to buy products under unexpected offers and only 6 of them told tha that they do not buy. INTERPRETATION: Most of the customer interested to buy under unexpected offers only.

P a g e | 54

Management Thesis – 1 | 3rd Semester

Yes

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

SURVEY FINDINGS TABLE OF • From the sample size of 100 samples it is found tha thatt the Brand is well positioned in the he minds of customers because 77 77% % of the respondent’s preference is Big Bazaar for their shopping. • Among 100 respondents, 23% of people told that 1st they came to know through T V advertisement and 34 34% of people told that through hoardings 31% % of them told that tthrough news paper and finally 12% % of them the highly agree that through bus painting. • Among the 100 respondents, 87% of them told that they are aware of promotional activities ctivities of big bazaar .only 13 13% of them told that hat they are not aware of promotional activity of big bazaar . 51% % of them told that they are attracted towards • Among the 100 respondent 51 big ig bazaar only for the offe offers 9% of them told that service and 23% 23 of them told that quality and only 17 17% of them told that due to availability of products Among 100 respondent 43 43% % of them agree that offers is the most emerging factor influencing ing purchase decision and only 11 11% % of them told that service 21% of told that quality and finally 25 25% % of them told that effective advertisement is responsible for the purchase decision.

• Among 100 respondent 77 77% % of them told that promotional activities of big bazaar gives clear message and 23% % of them told that they did not understood. • Among 100 respondent 98% of people interest to advise others in future shopping and only 2% of them not interest to advice. • Among 100 respondent 83 83% them told that promotions of big bazaar changes their eir purchase pattern and only 17 17% % told that does not changes. • Among 100 respondent 94% of them told that they are interested to buy products under unexpected offers and 6% of told that they do not buy.

P a g e | 55

Management Thesis – 1 | 3rd Semester

•

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

CONCLUSION TABLE OF Indian retail sector is witnessing one of the most hectic Marketing activities of all times. The companies are fighting to win the hearts of customer who is God said by the business tycoons. There is always a ‘first mover advantage’ in an upcoming sector. In India, that advantage goes to “BIG BAZAAR”. It has brought about many changes in the buying habits of people. It has created formats, which provide all items less than one roof at low rates. The consumer’s preferences are changin changing g & they are moving from Traditional Kirana stores to Modern Retail outlet. It’s the main challenge to the Modern retail outlets to attract the customers towards them from that of competitors. To attract more customers companies have to carry out the promo promotional tional activities in unique way. BIG BAZAAR has maintained that uniqueness & has succeeded in attracting customers.

Management Thesis – 1 | 3rd Semester

The promotional activity of the company, which famous as Less Price than others as it says ‘Nobody Sells Cheaper and Better!’ is made its pl place ace in minds of customer. As the competition is becoming stiff in the market the activities conducted by the company are unique, that have brought fruitful result to the company. Among them sales Promotions is one of the leading activity or unique among al alll other activities & has high influence on the customer walk walk-in.

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

BIBLIOGRAPHY

•

Buyer Behavior: http://buyerbehaviour.blogspot.com/2008/01/big-bazaarhttp://buyerbehaviour.blogspot.com/2008/01/big freedom-sale-change--in.html

•

Indian Retail Scenario: http://www.slideshare.net/theRedIndian/indiahttp://www.slideshare.net/theRedIndian/india retail-2008-big-bazaar bazaar-scenario/

•

Wikipedia: www.wikipedia.org

•

"IT Happened in India" by Kishore Biyani

•

"From Brand Vision to Brand Evaluation: The Strategic Process of Growing Grow and Strengthening Brands" by Leslie de Chernatony

•

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

•

Economic Times: www.economicstimes.com

• • •

Marketing Management: Philip Kotler Advertising and Sales: Promotion Belch and Belch Retail Management: Bajaj and Srivastav Research Methodology: Cooper and Schindler

•

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Management Thesis – 1 | 3rd Semester

TABLE OF