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Retailing & Franchising - big bazaar project
 

Retailing & Franchising - big bazaar project

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    Retailing & Franchising - big bazaar project Retailing & Franchising - big bazaar project Document Transcript

    • AcademicYear:PGP2012-2014 Project on: - Big Bazaar Faculty :BY: Apurva Singh PG20121122 Shruti Bhatia PG20121174 Shwet Jain PG 2012
    • Introduction To Big Bazaar Pantaloon Retail (India) Limited, is India‟s leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai (Bombay), the company operates over 16 million square feet of retail space, has over 1000 stores across 73 cities in India and employs over 30,000 people. The company‟s leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include Brand Factory, Blue Sky, all, Top 10 and Star and Sitara. The company also operates an online portal, futurebazaar.com Future Value Retail Limited is a wholly owned subsidiary of Pantaloon Retail (India) Limited. This entity has been created keeping in mind the growth and the current size of the company‟s value retail business, led by its format divisions, Big Bazaar and Food Bazaar. The company operates 120 Big Bazaar stores, 170 Food Bazaar stores, among other formats, in over 70 cities across the country, covering an operational retail space of over 6 million square feet. A subsidiary company, Home Solutions Retail (India) Limited, operates Home Town, a large-format home solutions store, Collection, selling home furniture products and ezonefocussed on catering to the consumer electronics segment. Pantaloon Retail is the flagship company of Future Group, a business group catering to the entire Indian consumption space. Future Group Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India‟sleading business houses with multiple businesses spanning across the consumption space.
    • While retail forms the core business activity of Future Group, group subsidiaries are present inconsumer finance, capital, insurance, leisure and entertainment, brand development, retail realestate development, retail media and logistics. Led by its flagship enterprise, Pantaloon Retail, the group operates over 16 millionsquare feet of retail space in 73 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and islisted on the Indian stock exchanges. The company follows a multi-format retail strategy thatcaptures almost the entire consumption basket of Indian customers. In the lifestyle segment, thegroup operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In thevalue segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look,touch and feel of Indian bazaars with the choice and convenience of modern retail. The group‟s speciality retail formats include supermarket chain - Food Bazaar,sportswear retailer - Planet Sports, electronics retailer - eZone, home improvement chain Home Town and rural retail chain- Aadhaar, among others. Future Group believes in developing strong insights on Indian consumers and buildingbusinesses based on Indian ideas, as espoused in the group‟s core value of „Indianness.‟ Thegroup‟s corporate credo is, „Rewrite rules, Retain values.‟ Future Group shall deliver Everything, Everywhere, Everytime for Every IndianConsumer in the most profitable manner.
    • VISION&MISSION OF BIG BAZAAR VISION: Future group shall deliver everything everywhere, every time for Indian Consumer in the most profitable manner. MISSION: We shall infuse Indian Brands with confidence & renewed ambition. We shall be efficient, cost conscious and committed to quality in whatever we do We shall ensure that our positive attitude, sincerity, humility and united,determination shall be the driving force to make us successful. We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption spaceleading to economic development.
    • Organization Structure of Big Bazaar PRESIDENT VICE PRESIDENT MARKETING MANAGER HR CATERGORY MANAGER FINANCE MANAGER OPERATIONS MANAGER MARKEING HEAD HR HEAD CATEGORY HEAD FINANCE HEAD STORE MANAGER
    • Store structure STORE MANAGER DEPT MANAGER ASS. DEPT MANAGER TEAM LEADER MARKETING MANAGER HR MANAGER ASS. STORE MANAGER CSD VISUAL MERCHANDISING CASHIER INFO ADMINISTRATION ASST. D.M. SECURITY MAINTAINANCE
    • The location of the store Products Assortment The collection of goods or services that a business provides to consumers. The main characteristics of a company's product assortment are: (1) its length or number of products, (2) its breadth or number of product lines, (3) its depth or number of product varieties within a product line and (4) its consistency or how products relate to each other in a retail environment. Store layout and Store design MERCHANDISING: It is divided into two parts 1. General Merchandising Home Ware Plastics – will contribute 35% to the GM home sale and utensils will contributearound 45% and 20% crockery (1083 square feet for plastics )
    • Utensils – Gas stove, pressure cooker and non-stick ware contributes highrevenue to the utensils portion. In aluminum, pressure cooker will be classified ascapacity wise, it will start from 2 litres to 12 litres (870 square feet only forutensils). Crockery – It is divides into Five classes o Melamine ware – plate, bowls, trays, dinner sets o Opal ware – Dinner sets, plates & Bowls o Bone chinaware – Only dinner sets, coffee mug o Glass – glass tumbler sets, glass desert sets, glass dinner sets 2. General Merchandising Fashion Foot wear, luggage, toys & sports and new business development Foot wear: o Men‟s – formals, casuals o Ladies – sports o Kids – shoes & sandals Luggage: o Trolleys o School bags o Laptop bags o Ladies hand bag o Wallets &pouchers APPARELS: Apparels means clothing and fashion something that covers or adorns especially outer garments or clothing. It is divided into 8 parts: Mix And Match -- Relating to a variety of clothes and accessories in styles and colors that permit different parts to be readily interchanged. SalwarKamishDuppatta – Shalwarkamees is the dress worn by women in northern South Asia and Central Asia. Food Bazaar: It is divided into three types 1. FMCG Food – Eatable Items. It is categorized into twelve types Ready to eat Ready to cook
    • Ready to fry Noodles Jams Pickles Sauce Tea Coffee Desert Mix Detergent bar Detergent powder 2. FMCG Non Food Items: It is divided into three parts Spick and Spain - Detergent powder that clean all utensils products Fabric Clean – detergent powder that clean all household products Head to toe – all body wash products like shampoo, soap. 3. GROSSERY: It is split into seven types Rice Pulse Sugar Masala & Spices Cooking Medium (oil, ghee) Salt Cereals Flours 4. BEVERAGES: Chilled station Water Soda Concentrated powder Concentrated drinks Juices
    • Dairy products Butter & curd ELECTRONICS ITEMS: It is divided into three sections 1. Sight & Sound Television LCD DVD player Home theatre Music system 2. Cool & Clean Refrigerator Washing Machine AC & Fan Air cooler 3. Cook & Serve Mixture machine Micro oven Juicer machine Grinder machine Food processor Stock in warding: It means getting the stock from the warehouse; category will sent ware house stock list. In that we sent our stock request, the category will approve & make a purchase order, after Approving the purchase order the warehouse people will send the stock to the store. Home delivery process: After the Customer select the product the customer will get the product within one or twodays. Customer Booking: If the stock is not available in the warehouse, minimum one weak or fifteen days to book
    • the product. Once the booking are over, the customer booking list will sent to category and thecategory will arrange the stock from the concerned brand. After sales in the floor: After selling the product to the customer if there is any customer complaints regarding the products, the products is rectified within 24 hours. FURNITURE:  It is divided into four types 1. Bed room concept Cot & ward rope Dressing table Night stand 2. Dining Dining table 3. Living room Sofa set Center table Wall unit A.V. trolley 4. Essential Additional decoration in the room like book self, DVD rack, CD rack, hanger rack Level of assistance offered to the consumers
    •  Personal selling is a more direct approach to marketing. Retailers that sell higher-end products orpromote themselves as tops in service often employ more active sales personal. At Big Bazaar salespeople to help customers understand the benefits of payingmore for better value. Salespeople can also make add-on or cross-sales for more revenue.  A 15 Tiles Assistance is the stragy which is taken up by Big Bazaar, Which means Whenver to go at Big Bazaar you will find Employees with Big Bazaar Cap, who work as a Assistance to help their customer in every aspect required by the customers.  Store design and consumer relationship marketing (CRM) directly affected the way customerspurchase and retain goods. Things like the atmosphere, music, store layout, sales help, and post-purchasesupport can influence things like shopping time (the longer they shop, the more likely they are to buy),and how gratified they feel with their purchase. The more content a buyer is with their shoppingexperience, the more likely they are to buy merchandise, and the less likely they are to return it. Improved & Easy Navigation in the stores. • There is a display board in the store where you‟ll find different products in different places so thatfinding products is no more problem for you. • Shopping accessories (trolley/baskets/bags) are always available in the store to make your Shopping so comfortable. • There are first-aid desk in the store. • Clean space for moving into the store. • All sales persons are very helpful & ready to help you always. • All cash counter (12-15) are always open. So you don‟t have to wait in front of the cash counterfor billing. • Moderate Environment in the store, like Music/Aroma, so that you can enjoy your shopping. • Wheel Chair available in the store for Handicapped & Pregnant women. • Tight Security system in the store. Emergency exit available. • Fire protected store (fire prevention equipments are implemented in the stores). • Drinking Water/Wash Room available for the consumers. • There are places where you can seat and enjoy food in the food court. • Varieties of foods are available in the food court.
    • Pricing Strategy of Big Bazaar Target Audience Of Big Bazaar Big Bazaar targets middle and upper middle class customers. The large and growing young working population is a preferred customer segment. It specifically targets working women and home maker who are the primary decision makers. Offers At Big Bazaar 1. THE GREAT EXCHANGE OFFER Big Bazaar announced the great exchange offer with a bring anything old and take anything new concept which started from the 16th of feb 2008. Under the exchange offer the customer were given exchange coupons and they were valid up to a particular date. 2. SABSE SASTE TEEN DIN (BIG DAYS) 26thjan republic day a national holiday big bazaar marketing department started a new shopping festival i.e. sabsesaste teen din. Eg JVC video camera was available at RS (&)) whose MRP was RS16990. 3. WEDNESDAY BAZAAR – HAFTE KA SABSE SASTA DIN
    • In jan 2007, big bazaar introduced a Wednesday bazaar concept called “haftejasabsesastadin ” with the aim to homemaker the power to save the most on this day of the week.
    • 1. Psychological Pricing Psychological pricing is a business concept supported by the idea that customers respond better to certain types of prices and will more likely to buy items with these prices. Most often, such prices have end digits of nine, 99 or 95, which it is believed make people more assured they are getting a savings on what they buy. 2. Value Pricing It sets selling price on the perceived value to the customer rather than on the actual cost of the product, market price, competitors price or the historic price. 3. Time Pricing
    • Time based pricing is a special case of price discrimination in which producers charge different rates for a given good or service depending on the time, day, month, and so on. 4. Bundling It is a technique of offering two or more complementary goods or services together as a package deal. Bundled items are sold at a price attractively lower than the total of their individual selling prices. Stores use promotions to prompt impulse buying behavior. A shopper may not intend to buy a product, but if there is a promotion, there is an incentive for immediate action. For example, a shoppermay not need another dress shirt, but might still buy one if it is on sale. Additionally, promotions canprompt consumers to recall a product and thus instigate a purchase. Retailers also use promotionalperiods-- corresponding with national holidays or well-know sales times-to sell off the previous season‟smerchandise. Promotional periods spike sales, and are a way retailers can reduce the loss of unsoldinventory.
    • Visual Merchandising Visual merchandising is an art and science of displaying merchandise within the store. It is about implementing effective design, ideas to educate customer, create desire and finally increase store traffic and sales volume. At Big Bazaar visual merchandising is done using: Table Display- Table display means where you keep all the dress materials in the tables. Bin – Bin is kept near the cash counters for impulse purchase, very low pricepoint products are kept. Alligator – Alligator is the big iron rack where you put stock of socks. Tower Display – It is a big ware you display a maniquene with new fashion. Step Table - Step Table means the more number of rack where you keep all the dress materials for both man and women. Gondolla - Gondolla means a very big rack where you keep all the dress materials in the store.
    • Retail Communication Buyer’s experience Conclusions  To increase the footfall of the store during the weekday.  Customers are more attracted towards Discount Schemes & Sales.  Various Product lines also attract customers to choose their retails stores.  Entertainment units & Kids zone should be provided in Retail stores in order to cater morecustomers.  The after sales service of retail stores should be helpful & effective. This after sales servicecreates loyal customers.  Major steps should be taken to stop shoplifting in retail stores, as it is one of the problematiccharacters for leading & large size retails stores.  The retail stores should provide various kinds of loyalty rights in order to provide morecustomers.