A projects report on effectiveness of retailing mix in big bazaar

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A projects report on effectiveness of retailing mix in big bazaar

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A projects report on effectiveness of retailing mix in big bazaar

  1. 1. LIVE PROJECT REPORT<br />ON<br />“EFFECTIVENESS OF RETAILING MIX IN BIG BAZAAR "<br />116205066675<br />MASTER OF BUSINESS ADMINISTRATION <br />EIILM UNIVERSITY<br />By<br /> <br /> <br /> <br /> <br /> <br /> A Thesis ON <br /> (“EFFECTIVENESS OF RETAILING MIX IN BIG BAZAAR ")<br />PROJECT REPORT<br /> Submitted in partial fulfillment of the requirements for the award of the degree<br />MASTER OF BUSINESS ADMINISTRATION <br />EIILM UNIVERSITY<br />By<br /> <br /> <br />RAI BUSINESS SCHOOL<br />CHENNAI - 600 018<br />May-June 2010<br />5362575-5619756591300908621565913009086215DECLARATION<br /> <br />I hereby declare that the information presented here is true to the best of my knowledge. Also, the report has not been published anywhere else.<br /> <br /> 5362575-561975Acknowledgement <br />The project of this magnitude would not have been completed singly. Firstly I want to give my hearty thanks to all mighty who made the world and me also.<br />There are many other people without whom the completion of the project would not have been possible. Some have contributed towards this directly while other have provided indirectly.<br />It gives me immense pleasure to thank<br />………………………………….. and ……………………………. for providing me training in his reputed organization and giving me a chance to have the experience of actual retail operations.<br />I am indebted to<br /> …………………………..of BIG BAZAAR for his guidance and cooperation in completing this project.<br />Last but not the least I would like to convey my heartiest gratitude to all Members of BIG BAZAAR who helped a lot.<br /> <br />5391150-609600TABLE OF CONTENTS<br /> <br />S.NO. ContentsPage no<br />1COMPANY PROFILE9-25<br />2Group vision, mission and values26-27 <br />3Organization Structure28-29<br />4Management style30<br />5Strategy30<br />6Department and Products31-32<br />7Introduction33-40<br />8Research Objective41-42<br />9Research methodology43<br />10Analysis and Interpretation44-61<br />11Findings62-63<br />12Recommendations64-65<br />13Limitations66-67<br />14Bibliography68-69<br />15Annexure70-72<br />16Location73-74<br />17Competitors75<br />5295900-561975Company profile <br /> <br />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 10 million square feet of retail space, has over 1000 stores across 61 cities in India and employs over 30,000 people.<br />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, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, aLL, Top 10, mBazaar and Star and Sitara. The company also operates an online portal, futurebazaar.com. A subsidiary company, Home Solutions Retail (India) Limited, operates Home Town, a large-format home solutions store, Collection i, selling home furniture products and E-Zone focused on catering to the consumer electronics segment.<br />Pantaloon Retail was recently awarded the International Retailer of the Year 2007 by the US-based National Retail Federation (NRF) and the Emerging Market Retailer of the Year 2007 at the World Retail Congress held in Barcelona.<br />Pantaloon Retail is the flagship company of Future Group, a business group catering to the entire Indian consumption space. Pantaloon is not just an organization - it is an institution, a centre of learning & development. We believe that knowledge is the only weapon at our disposal and our quest for it is focused, systematic and unwavering.<br />At Pantaloon, we take pride in challenging conventions and thinking out of the box, in travelling on the road less traveled. Our corporate doctrine ‘Rewrite Rules, Retain Values’ is derived from this spirit. <br />5343525-561975 Over the years, the company has accelerated growth through its ability to lead change. A number of its pioneering concepts have now emerged as industry standards. For instance, the company integrated backwards into garment manufacturing even as it expanded its retail presence at the front end, well before any other Indian retail company attempted this. It was the first to introduce the concept of the retail departmental store for the entire family through Pantaloons in 1997. The company was the first to launch a hypermarket in India with Big Bazaar, a large discount store that it commissioned in Kolkata in October 2001. And the company introduced the country to the Food Bazaar, a unique 'bazaar' within a hypermarket, which was launched in July 2002 in Mumbai. Embracing our leadership value, the company launched all in July 2005 in Mumbai, making us the first retailer in India to open a fashion store for plus size men and women.<br />Today we are the fastest growing retail company in India. The number of stores is going to increase many folds year on year along with the new formats coming up. The way we work is distinctly "Pantaloon". Our courage to dream and to turn our dreams into reality – that change people’s lives, is our biggest advantage. Pantaloon is an invitation to join a place where there are no boundaries to what you can achieve. It means never having to stop asking questions; it means never having to stop raising the bar. It is an opportunity to take risks, and it is this passion that makes our dreams a reality.Come enter a world where we promise you good days and bad days, but never a dull moment!<br />5391150-609600Future Group<br />Future Group is one of the country’s leading business groups present in retail, asset management, consumer finance, insurance, retail media, retail spaces and logistics. The group’s flagship company, Pantaloon Retail (India) Limited operates over 10 million square feet of retail space, has over 1,000 stores and employs over 30,000 people. Future Group is present in 61 cities and 65 rural locations in India. Some of its leading retail formats include, Pantaloons, Big Bazaar, Central, Food Bazaar, Home Town, eZone, Depot, Future Money and online retail format, futurebazaar.com.<br />Future Group companies includes, Future Capital Holdings, Future Generali India Indus League Clothing and Galaxy Entertainment that manages Sports Bar, Brew Bar and Bowling Co. Future Capital Holdings, the group’s financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels.<br />The group’s joint venture partners include Italian insurance major, Generali, French retailer ETAM group, US-based stationary products retailer, Staples Inc and UK-based Lee Cooper and India-based Talwalkar’s, Blue Foods and Liberty Shoes.Future Group’s vision is to, “deliver Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner.” The group considers ‘Indian-ness’ as a core value and its corporate credo is- Rewrite rules, Retain values. <br />56959501642745107442005659120107442004387215<br />5362575-571500<br />5667375360807066294004783455 Mr. Kishore Biyani Managing Director (FUTURE GROUP) <br />5391150-571500 <br />Major Milestones1987Company incorporated as Manz Wear Private Limited. Launch of Pantaloons trouser, India’s first formal trouser brand.1991Launch of BARE, the Indian jeans brand.1992Initial public offer (IPO) was made in the month of May.1994The Pantaloon Shoppe – exclusive menswear store in franchisee format launched across the nation. The company starts the distribution of branded garments through multi-brand retail outlets across the nation.1995John Miller – Formal shirt brand launched.1997Pantaloons – India’s family store launched in Kolkata.2001Big Bazaar, ‘Is se sasta aur accha kahi nahin’ - India’s first hypermarket chain launched.2002Food Bazaar, the supermarket chain is launched.2004Central – ‘Shop, Eat, Celebrate In The Heart Of Our City’ - India’s first seamless mall is launched in Bangalore.2005Fashion Station - the popular fashion chain is launched aLL – ‘a little larger’ - exclusive stores for plus-size individuals is launched2006Future Capital Holdings, the company’s financial arm launches real estate funds Kshitij and Horizon and private equity fund Indivision. Plans forays into insurance and consumer credit.Multiple retail formats including Collection i, Furniture Bazaar, Shoe Factory, EZone, Depot and futurebazaar.com are launched across the nation.Group enters into joint venture agreements with ETAM Group and Generali.12731754563745<br />5391150-5715005295900-3314700Our culture<br />At Pantaloon, Empowerment is what you acquire and Freedom at Work is what you get. We believe our most valuable assets are our People. Young in spirit, adventurous in action, with an average age of 27 years, our skilled & qualified professionals work in an environment where change is the only constant.<br />Powered by the desire to create path-breaking practices and held together by values, work in this people intensive industry is driven by softer issues. In our world, making a difference to Customers’ lives is a Passion and performance is the key that makes it possible. Out of the Box thinking has become a way of life at Pantaloon and living with the change, a habit.<br />Leadership is a value that is followed by one and all at Pantaloon. Leadership is the quality that motivates us to never stop learning, stretching to reach the next challenge, knowing that we will be rewarded along the way. In the quest of creating an Indian model of retailing, Pantaloon has taken initiatives to launch many retail formats that have come headed for serve as a benchmark in the industry. Believing in leadership has given us the optimism to change and be successful at it. We do not predict the future, but create it.<br />At Pantaloon you will get an opportunity to handle multiple responsibilities, and therein, the grooming to play a larger role in the future. Work is a unique mix of preserving our core Indian values and yet providing customers with a service, on par with international standards.<br />At Pantaloon you will work with some of the brightest people from different spheres of industry. We believe it’s a place where you can live your dreams and pursue a career that reflects your skills and passions67818001776730.<br />New discoveries in retail<br />In the financial year 2006-07, the company’s retail businesses discovered new categories across formats, new sets of consumers and fresher and contemporary merchandise. We have been able to offer more in the established businesses and gain favourable acceptance with new concepts. In addition, concerted expansion plans saw retail space increase to over 5.2 million square feet at the end of 2006-07. This expansion mode was characterized by a twopronged approach. By dominating the cities the company was already present in and by bringing the benefits of modern retail to towns and cities like Mangalore, Palakkad, Surat, Indore, Kanpur, Haldia, Agra, Coimbatore, Jaipur and Panipat. The company has also undertaken significant private label initiatives in food, in general merchandise and in the consumer durables and electronics <br />categories. Strategic alliances have also been forged with established domestic and international brands. However, the most significant development was the internal realignment the company undertook within each of its retail businesses. To embark on a more detailed approach towards value creation and increasing efficiency, the company reviewed its business operations and adopted a more focused approach by creating an integrated support unit or Line of Business.<br />5391150-1885950Augmenting the retail front-end team, Line of Business (LoB) units have been<br />created in the three most critical businesses – food, fashion and general merchandise. Formed during the second half of 2006-07 these business units focus on introducing optimum operational efficiencies. Thus, these units ensure that back - end measures are appropriately taken care of and the right kind of merchandise reaches the stores in the best possible time, at the right price. These teams focus on product consolidation and suitability, margin improvement, and vendor rationalization, thereby ensuring that the sourcing benefits are made available to the front - end team.The company’s efforts over the next couple of years would entail a combination of expansion and process upgradation and implementation.<br />The emphasis will be on the next discoveries to be made in the retail space that will lead to expansion. At the same time, there will be an increased focus on micro detailing aspects including process, product and operational efficiencies thereby contributing positively to the company’s bottom-line.<br />discovering fresh fashion<br />5391150-571500<br />It was the first Pantaloons store in Kolkata that set off a chain of discoveries that have led us to where we are today. Ten years later, we have launched our largest Pantaloons store in Kankurgachi in Kolkata. Spread across 85,000 square feet, the store is the first among a series of large format stores that will be launched across the nation. After consolidating its Fresh Fashion positioning, Pantaloons embarked on a major expansion during the year 2006-07. In 8 cities,11 Pantaloons stores were opened with 7 of them opening in the single month of March 2007. The total count of Pantaloons stores as on 30th June 2007 stood at 31 with the total area under retail close to 1 million square feet. In order to maintain the top of the mind association with fashion in India, Pantaloons continued to be the title sponsor for the Femina Miss India 2007 pageant. In addition, Bipasha Basu and Zayed Khan were roped in as brand ambassadors in the month of August 2006. The success of this initiative was evident in the increased sales for the ‘Haldi Gulal’ range as well as the ‘Svayam Utsav’ summer collection that were endorsed by Bipasha and Zayed. The private label apparel share during the year was in excess of 70 percent. The year also witnessed categories like Winter-wear and Ethnic Ladies-wear strengthening their presence in the stores. The increasing success of the store brand is evident from the fact that the store’s loyalty programme, Green Card, added 200,000 new members.<br />Pantaloons will see a significant expansion during the coming year with an increase of nearly 0.50 million square feet of retail space and an addition of about 15 stores. Pantaloons will look at dominating cities where it has a first entrant advantage and will scale up sizeably with larger stores, additional categories and retail formats. The year 2007-08 will witness considerable focus in the North and East regions. Delhi and the NCR area along with Punjab, Chandigarh and Ludhiana will see the next stage of expansion. Cities like Ranchi, Guwahati and Siliguri in the East will also discover Fresh Fashion.<br />5391150-571500<br />discovering more value <br />In 2006-2007, more Indians discovered the value of shopping in Big Bazaar. And with the launch of each store, we discovered more value in terms of operational efficiency. Big Baazaar launched 27 new stores in 22 cities, covering over 1.40 million square feet. As of June 2007, there were 56 Big Bazaar stores across 43 cities. While Big Bazaar continued to expand in the large cities, it also tapped consumption potential in smaller cities like Agra, Allahabad, Coimbatore, Surat, Panipat, Palakkad, Kanpur and olhapur.<br />The year under review also witnessed realigning of business teams with shared<br />experience in category management, sourcing, front-end operations and business planning. In addition, separate teams have been formed to look into all aspects of new store launches and to manage mature stores. This provides more flexibility and focus in expansion plans.<br />The increase in SKUs in existing categories and the introduction of new categories encouraged the opening of larger stores or Super Centres, measuring 100,000 square feet or more. There are now 5 Big Bazaar Super Centres. Considering this scale of expansion, technology plays a significant facilitating role. The introduction of SAP in 2005-06 and its roll out during the year, positively impacted the business. <br />5362575-619125<br /> Big Bazaar has initiated the process of Auto Replenishments Systems, thus improving operational efficiencies and productivity. The company has also rationalized nearly 250 vendors through better vendor management in terms of potential to expand, and for inclusion and upgradation to the online B2B platform. The company plans to open over 60 stores across India in FY 2008, and the opening of the 100th Big Bazaar store will mark the fastestever expansion by a hypermarket format.<br />discovering the new consumer <br />Based on the company’s in-house consumer data and research, and in cognizance with observations on customer movements and the shopping convenience factor, Food Bazaar has initiated certain refurbishments and layout design across all stores. The intention is to continuously change with the times and demands of the evolving Indian consumer.<br />Food Bazaar also witnessed healthy expansion during the year 2006-07, making its presence felt in nearly 26 cities and adding 40 stores during the year under review. The total count of Food Bazaars as on 30th June 2007 stood at 86 stores. The year under review witnessed the company’s private label programme gaining significant traction. The brands have been very competitive vis-à-vis the established brands in quality and price terms, and have in fact scored better than national or international players in certain categories.<br />5391150-1144905105918005880735The share of private labels as a percentage of total Food Bazaar revenues has increased significantly and comprise nearly 50 merchandise categories.<br />While Fresh & Pure brand entered categories like cheese slices, frozen peas, honey, packaged drinking water and packaged tea, the Tasty Treat brand received a very favorable response in new categories like namkeens and wafers. In the home care category, Caremate launched aluminum foil and baby diapers while Cleanmate launched detergent bars and scrubbers.<br />A new format ‘BB Wholesale Club’ was launched and 4 such stores have been opened so far. To be managed by Food Bazaar from the ensuing financial year, this format sells only multi-packs and bulk packs of a select range of fast moving categories and caters to price sensitive customers and smaller retailers.<br />The company has also forged tie-ups with established companies like ITC, Adanis, DCM Group, USAID and other farm groups in Maharashtra and Madhya Pradesh to source directly from them. These alliances are expected to drive efficiencies as well as bring better products to consumers.<br />-8229600518160By the end of FY 07-08, the total number of Food Bazaar stores is expected to be 200.<br />98679009334510439400522351069342001718310Future ideas<br />Discovering new opportunities<br />Future Ideas is the Innovation, Design & Incubation cell within Pantaloon Retail that stems from <br />the core proposition - ‘Protecting and preserving the soul of a small business or enterprise within a large organisation.’ Future Ideas deals with the whole aspect of idea creation, scenario planning activities, alternate approaches to an issue, providing varied outcomes and solutions to a problem and handholding the activity till its success parameters are satisfied.<br />5391150-1116330A unique initiative in corporate India, Future Ideas rests on a tripod that can<br />be classified as Innovation driven, Design Management approach and an Incubation chamber, each with its own uniqueness, yet with common objectives. The Design Management team looks at each observation made by the Innovation team, and brainstorms by using a collaborative and holistic approach. The resultant ideas are then nurtured within the Incubation cell. The Incubation team comprises of business teams, mentored by the Innovation and Design teams. They are people who are released from their original businesses or concepts and made part of the entire ideation process at Future Ideas. They remain at Future Ideas till project completion stage when the success 70866001990090parameters for running the business are met.<br />Future Ideas draws inspiration for most of its activities and projects, keeping in mind the new genre of aspirational Indians. At any point of time Future Ideas would work on about 20 varied projects within the Future Group.<br />Some of the formats that are now being incubated by this team include Top10, Depot, Star & Sitara and Talwalkars’ Fit & Active. The team is also working on ideas around small format no-frills stores, rural retailing, fashion for the masses and on projects involving women and self-help groups.<br />Discovering new segments<br />Depot, in many cities, is the first modern retailer in books and music and the<br />5391150-609600response has been overwhelming. The core differentiators of Depot are its young, colorful and vibrant stores, strong regional range, affordability and a private label publishing program - Depot Exclusives. In its first year of operation, Depot has launched 6 stand-alone stores and 50 cut-ins. Along with its expansion in major cities, Depot debuted in smaller towns like Rajkot, Vadodara, Haldia, Thrissur, Palakkad and Tiruvanantharam.<br />72390002666365The Depot Exclusives (released solely inDepot) catalogue expanded rapidly with over 100 titles across genres like children’s books, cookery, regional literature etc. Reputed authors/ imprints like Nita Mehta and Sanjeev Kapoor in cookery, Disney in children’s books etc., have been associated with the company. Depot has also tied-up with the UK based publisher of<br />children’s books, Small World, to co-publish a series of toddlers’ interactive books. In FY 2007-08, the total Depot footprint should cross over 100 stores.<br />The Health, Beauty & Wellness business opened 35 new outlets in the beauty products, services and holistic health care formats Multiple formats operate in this segment, including Tulsi, the pharmacy chain and Star & Sitara, the beauty products cut-ins and Star & Sitara Salons. The largest format, Beauty Free offers unique combination of products, services and holistic health offerings.<br />To capture the increasing consumption spend on wellness and preventive health care, the joint venture between Pantaloon Retail (I) Limited and Talwalkar Better Value Fitness opened its first ‘Talwalkars Fit & Active’ health centre at Orchid City Centre, Mumbai in April 2007. Spread over 5,200 square feet, it is the country’s first health centre to offer health, fitness and gym services within a modern retail and consumption environment.<br />The venture is also looking at innovative value added offerings in the fitness space as well as developing a Spa model for the Fit & Active brand across the country, by increasing its presence to nearly 50 such centers in the near future.73914002379980<br />Human Resources<br />Discovering talent diversity<br />The company strongly believes that its sustainable competitive advantage lies in the values that it cherishes, the culture that it imbibes and spirit of enterprise that resides within the organization. Talent management therefore continues to be the core focus for the company. Considering the <br />5391150-619125multiple businesses and rapid expansion expected across the business, the company saw merit in taking a fresh guard to the way in which business would run in order to meet the next leg of expansions.<br />During the year 2006-07, the company conducted an extensive review of in-house talent management, which involved mapping every managerial position in the organization for their skill sets, competence and attitudinal aspects as well as taking an inventory check of the existing talent base and addressing their development needs. Development Centres were created with in-house assessors, which further aided in identifying potential resources and helped chalk out post assessment development plans.<br />Continuing with its policy of strategic alliances, the company is collaborating on joint degree programs with 15 management schools, design institutes and institutes of higher learning in areas like food business, supply chain management, design experience management etc. This ‘Seekho’ programme for external and internal candidates has ensured a steady stream of mid level, well trained retail professionals every year.<br />75438003233420The company’s ‘Gurukool’ programme provides the front-end employees an opportunity to imbibe the company’s values and a sense of ownership to the company. The company has also created an Employee Growth Trust Fund that was launched during the last financial year for the senior management.<br />Equal Opportunity<br />The company believes that in order to build a sustainable business environment, the composition of its talent base needs to reflect the diversity that exists in our country and among its customers. Therefore the company ensures that the proportional representation of different communities in the Indian population is mirrored in its employee profile. The majority of employees in the company come from socially and economically marginalized sections of the society. Close to 46% of the employees in the organization are women and the average age within the organization is 27 years.<br />The effectiveness of its talent management initiatives is reflected in the fact that the annual rate of attrition is 8.12%, much below industry levels. The company plans to strengthen its employee platform to about 30,000 people by FY 08, from nearly 18,000 people as on FY 07.<br />5391150-57150076962002860040Human Resource Initiatives<br />Pantaloon Retail believes that one of its sustainable competitive advantages will continue to be the people who are part of the organization. Being in service industry, the Company places a lot of focus is placed on attracting, training, incentivising and retaining talent. The vision is "To provide an environment that creates happy people who have a meaningful life and add value to business and society." With over 18000 employees at an average age of 27 years, the Company prides itself on being a young and energetic organization, driven through the 'The Pantaloon People Management System'. This is<br />built on 5 pillars of people based growth, namely - Culture Building, Performance Management through Balanced Scorecard, People Processes, Management Processes and Leadership Brilliance. Training A competent Learning & Development Team is responsible for training employees at all the levels across the countr y, focusing on primary and secondary research into various aspects of retail and assessment of training needs across Knowledge, Skills & Attitude areas. The emphasis is on creating product and process knowledge through well defined programs like Praarambh and Parikrama. For the critical front line staff, the Company's unique outbound residential training program Gurukool focuses on integrating the mind, body and soul and brings about measurable attitudinal and behavioral changes.<br />The program has covered nearly 4,500 employees. The SMILE initiative for training of new Store Manager's has been created and disseminated to over 100 store managers by this team78486002807970<br /><ul><li>Future Group Manifesto “Future” – the word which signifies optimism, growth, achievement, strength, beauty, rewards and perfection. Future encourages us to explore areas yet unexplored, write rules yet unwritten; create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and re-learn, our ability to evolve.We, in Future Group, will not wait for the Future to unfold itself but create future scenarios in the consumer space and facilitate consumption because consumption is development. Thereby, we will effect socio-economic development for our customers, employees, shareholders, associates and partners.Our customers will not just get what they need, but also get them where, how and when they need. We will not just post satisfactory results, we will write success stories.We will not just operate efficiently in the Indian economy, we will evolve it.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. Rewrite Rules. Retain Values.91376519608805419725-628650Group VisionFuture Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner. Group Mission We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development.We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments – for classes and for masses.We shall infuse Indian brands with confidence and 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.   90678003983355Core ValuesIndianness: Confidence in ourselves. Leadership: To be a leader, both in thought and business.Respect & Humility: To respect every individual and be humble in our conduct.Introspection: Leading to purposeful thinking.Openness: 5410200-609600To be open and receptive to new ideas, knowledge and information. Valuing and Nurturing Relationships: To build long term relationships.Simplicity & Positivity: Simplicity and positivity in our thought, business and action. Adaptability: To be flexible and adaptable, to meet challenges. Flow: To respect and understand the universal laws of nature.ORAGANATION STRUTURESTORE MANAGERASSISTANTSTORE MANAGERDEPARTMENTMANAGERASSISTANTDEPARTMENTMANAGERTEAMLEADERSALES PERSONSOrPROMOTERS5410200-609600MANAGEMENT STYLEThe organization structure for Big bazaar is flat in nature. For Big bazaar, the divisions are apparel, non apparel and the new business division, which includes gold, footwear and the shop-in-shops. For Food Bazaar, a separate teem has been created which again works independently.About 1,800 people work for Big bazaar directly. Support and ancillary services comprise another 400 people. A new trainee is put through a basic three day training program before going on the shop floor. Evaluation is done every six months. THE STRATEGYSaving is key to the Indian middle class consumer. The store, which would be created, had to offer value to the consumer. Keeping this in mind, the concept of Big bazaar was created. In India, when a customer needs some thing for the home, a typical thought is to seek it from the bazaar. A bazaar is a place where a complete range of products is always available to the consumer. This is true across India. As the store would offer a large mix of products at a discounted price, the name Big bazaar was finalized. The idea was to re-create a complete bazaar, with a large product offering (at times modified to suit local needs) and to offer a good depth and width in terms of range. The mind to market for the first store was just six months.Price was the basic value proposition at Big bazaar. The Big bazaar outlets sold a variety of products at prices, which were 5 to 60 percent lower than the market price. The line “Isse sasta aur achha kahin nahin” emphaised this.5400675-571500INTRODUCTIONA retailer or retail store is any business enterprise whose sales volume comes primarily from retailing. Retail organizations exhibit great variety and new forms keep emerging. There are store retailers, non store retailers, and retail organizations. Consumers today can shop for goods and services in a wide variety of stores. The best-known type of retailer is the department store. Japanese department stores such as Takashimaya and Mitsukoshi attract millions of shoppers each year. These stores feature art galleries, cooking classes, and children’s playgrounds.A retailer is at the end of the distributive channel. He provides goods and service to the ultimate consumers. This he does through his small organization, with the help of a few personnel. In an individual retail store there is not much scope for organization except in the sense that the shopkeeper has to organize apportions his time and resources. The need for organization becomes essential as soon as he hires people o enters into partnership or takes the help of members of his family in running his store. A retailer deals in an assortment of goods to cater to the needs of consumers. His objective is to make maximum profit out of his enterprise. With that end in view he has to pursue a policy to achieve his objective. This policy is called retailing mix. A retailing mix is the package of goods and services that store offers to the customers for sale. It is the combination of all efforts planned by the retailer and embodies the adjustment of the retail store to the market environment. Retailing mix, a communication mix and a distribution mix. The maximum satisfaction to the customers is achieved by a proper blend of all three.5400675-609600The success of the retail stores, therefore, depends on customers’ reaction to the retailing mix which influences the profits of the store, its volume of turnover, its share of the market, its image and status and finally its survival.RETAILRetailing is the set of business activities that adds value to the products and services sold to the consumer for their personal or family use.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-user. Retail establishments are often called shops 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 strategy. The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as a public utility, like electric power. 5353050-600075Retailing is an important institution in our society, Retailing provides considerable value to consumers while giving people opportunities for rewarding and challenging careers. Retail formats and companies are now major factors in the industry.The key to successful retailing is offering the right product, at the right price, in the right place, at the right time, and making a profit. Retailers must understand what customers want and what competitors are offering now and in the future.The World of Organized RetailingRetailers are using sophisticated communications and information systems to manage their business. The use of new technologies helps retailers reduce their operations costs, while better serving their customers.To compete against non-store retailers, stores are now becoming more than just places to buy products. They are offering entertaining and educational experiences for their customers. In this dynamic environment, entrepreneurs are launching new companies and concepts and becoming industry leaders, while traditional firms have had to rethink their business.Retail managers today must make complex decisions on selecting target markets and retail locations, determining what merchandise and services to offer, negotiating with supplier and distributing merchandise to stores, training and motivating sales associates, and deciding how to price, promote and present merchandise. 5391150-571500RETAIL MIX. The retail mix is the combination of factors retail used to satisfied customer needs and influences their purchase decision. Its include the type of merchandise and services offered, merchandise pricing, advertising, promotional programs store design merchandise display, assistance to customer provided by salespeople, and convenience of the store’s location. Retail mix is the term used to describe the various elements and methods required to formulate and execute retail marketing strategy.Retail managers must determine the optimum mix of retailing activities and co-ordinate the elements of the mix.The aim of such coordination is for each store to have a distinct retail image in consumers’ mind.The mix may vary greatly according to the type of the retailer is in, and the type of product/services.While many elements may make up a firm’s retail mix, the essential elements may include:Store location, merchandise assortmentsStore ambience, customer service, price, Communication with customer5400675-590550Personal sellingStore imageStore designSales incentivesPeopleProcessPhysical evidenceComposition of retail mixPlaceProductPrice PromotionPeopleProcessPhysical EnvironmentKey element1)Place (store location) 2)Product (merchandise)Target market Product developmentChannel structure Product managementChannel management Product features and benefits5400675-590550Retailer image Branding Retail logistics PackagingRetail distribution3)Price 4)PromotionCosts Developing promotional mixesProfitability Advertising managementValue for money Sales promotionCompetitiveness Sales managementIncentives Public relationsQuality Direct marketingStatusAfter-sales services5)People element 6)Process elementStaff capability Order processingEfficiency Database managementAvailability Service deliveryEffectiveness Queuing systemCustomer interaction StandardisationInternal marketing5400675-609600Retail mix planningRetail mix plan consists of:Setting objectivesSystematic way of identifying a range of options.Formulation of plans for achieving goalsLogical sequence of retailing activities.Importance of Retail mix planningHostile and complex retail environmentExternal and internal retail organisation factors interactMaximising revenueMaximising profitMaximising return on investmentMinimising costsEach element has conflicting needsAll these variables interactAll these variables result in optimum compromise.Approaches to planning Top down approachRetail management sets goals and plans for all levels of management.Bottom up approachVarious units prepare own goals and plans sent up for approval.It is the effective blending of all the elements of retail mix activities within the retail organization that determines the success of retail management. Discuss this statement and explain with retail examples how the elements of retail mix could be blended to ensure the success of retail operation.5400675-600075OBJECTIVEPRIMARY OBJECTIVE :To study the effectiveness of retailing mix in the store.SECONDARY OBJECTIVES :To identify the performance of store operations.To understand the quality of services maintained in the store.To determine the performance of sales persons in the store.To understand the availability of products in the store.To identify the effectiveness of atmospherics in the store. 5400675-600075RESEARCH METHODOLOGYType of researchDescriptiveType of dataPrimary dataData collection methodData is collected through structured questionnaire.SamplingConvenient samplingSample size 100Data analysis techniqueQuantitativeData analysis tool5400675-609600ANALYSIS AND INTERPRETATION98298004561205Q1. In a month how many times you visit big bazaar?a)Once7b)Twice23c)Thrice8d)More than thrice25e)As per requirement37INTERPRETATION: Out of 100 respondent, 37% people visit the store when they have some requirement and 25% are visited more than thrice, 23% visited two times in month and 7% & 8% people visited one and three times in a month respectively. Most of them regularly visit big bazaar. 5400675-8423910 Maximum number of people visited store frequently. Q2. Your shopping experience in big bazaar is always!a)outstanding1b)Excellent21c)Good43d)Average32e)Bad3 INTERPRETATION:Out of 100 respondent, 43% people has good shopping experience in big bazaar,32% has average and 21% people has excellent. But 1% has outstanding shopping experience and 3% has bad shopping experience. Maximum numbers of people has a better experience of shopping in big bazaar. 5400675-609600Q3. Brands and products availability in big bazaar is !a)outstanding3b)Excellent28c)Good44d)Average22e)Bad3INTERPRETATION:Out of 100 respondents, Over all 31% customer are satisfied by the availability of brand and products in big bazaar,66% customer product availability is average rest said it is bad. Some people think there is no good brands and products availability in big bazaar. Especially in apparels. 5400675-609600Q4. Ambience & atmosphere inside the store is !a)outstanding5b)Excellent27c)Good41d)Average21e)Bad6INTERPRETATION:Out of 100 respondents, Ambience & atmosphere inside the store is good feel by 41% customers, 27% feel it is excellent and only 3% feel outstanding. But 27% customers are not satisfied by the ambience & atmosphere inside the store of big bazaar. Due to much noisy and unpleasant environment some of the customer irritates. Atmosphere is really good. 5400675-609600Q5. Discounts and offers served in big bazaar is !a)outstanding7b)Excellent32c)Good36d)Average23e)Bad2INTERPRETATION:Out of 100 respondents, Discounts and offers served in big bazaar is good said by 36% customers, 32% feel it is excellent and only 7% feel outstanding. But 25% customers are not satisfied by Discounts and offers served in the big bazaar.Maximum Customers are satisfied by Discounts and offers served in the big bazaar. Discounts and offers served in the big bazaar are excellent.(Especially in Big day) 5400675-609600Q6. Home delivery services of big bazaar is !a)outstanding7b)Excellent19c)Good38d)Average28e)Bad8INTERPRETATION:Out of 100 respondents, Maximum number of respondent i.e. 64% is satisfied by Home delivery services of big bazaar rest 36% is not satisfied. Some customer never used this facility.5400675-609600Q7. Location 0f big bazaar in your city is !a)outstanding29b)Excellent32c)Good22d)Average13e)Bad4INTERPRETATION:Out of 100 respondents, 61% is highly satisfied with location of big bazaar in city, 22% is satisfied and only 17% is not satisfied.Location of big bazaar is outstanding. It is situated central business district (CBD). 5400675-609600Q8. Product display and signage in the store is !a)outstanding8b)Excellent36c)Good40d)Average14e)Bad2INTERPRETATION:Product display and signage in the store is highly satisfactory according to 44% of the respondent, satisfactory according 40% of the respondent rest 16% are not satisfied with it. Customers are satisfied with Product display and signage in the store.5400675-609600Q9. In offer days the shopping experience in the store is!a)outstanding3b)Excellent29c)Good39d)Average25e)Bad4INTERPRETATION:Out of 100 respondent, 39% people has good shopping experience in big bazaar, 25% has average and 29% people has excellent. But 3% has outstanding shopping experience and 4% has bad shopping experience. Maximum numbers of people has a better experience of shopping in offer days. Some customer do not enter in store due to heavy rush. 5400675-609600 Q10. How do you feel about sales persons and promoters?a)Outstanding4b)Excellent21c)Good49d)Average23e)Bad3INTERPRETATION: 74% of the respondents are satisfied by the sales persons and promoters in the store rest 26% respondents are not satisfied by the sales persons and promoters in the store.Sales persons and promoters behave well with customer.5400675-609600 Q11.The parking facility in bag bazaar is!a)outstanding17b)Excellent29c)Good32d)Average17e)Bad5INTERPRETATION: 78% of the respondents are satisfied by the parking facility in bag bazaar, rest 22% respondents are not satisfied by the parking facility in bag bazaar.Maximum customer satisfied with the parking facility in bag bazaar.5400675-609600Q12. The quality of the product served by big bazaar is!a)outstanding3b)Excellent19c)Good47d)Average26e)Bad5INTERPRETATION: 21% of the respondents are highly satisfied with the quality of the products at big bazaar, rest 74% are said the quality of the products in big bazaar is averaged, only 5% said its not good.Maximum number of people is not satisfied with quality of the product. 5400675-609600Q13. The cleanliness and hygiene maintained in the store is !a)outstanding13b)Excellent41c)Good28d)Average13e)Bad5INTERPRETATION:According to maximum number of respondent i.e. 82% feels that cleanliness and hygiene maintained in the store is up to the mark rest 18% feel it is not up to the mark.Cleanliness and hygiene maintained in the store is up to the mark. 5400675-609600Q14. Are you satisfied with the billing facility at the store?a)YES72b)NO28INTERPRETATION:72% of the respondents are satisfied by the billing facility in the store, rest 28 % are not satisfied.Some customer are not satisfied by billing facility(Especially in offer day and rush hours ).5400675-609600Q15. Is it easy to move with the trolley in the store?a)YES74b)NO26INTERPRETATION:According to 74% of the respondents it is easy to move in the store with trolley only 26% said it is not.The space management in the store is up to mark.5400675-609600Q16. Do you feel that shopping in big bazaar has made you a more knowledgeable conscious and aware customer?a)YES63b)NO37INTERPRETATION:According to 63% of the respondents they feel that shopping in big bazaar has made more knowledgeable conscious and aware customer, and 37% they are already knowledgeable conscious and aware customer.“Big bazaar has made customer a more knowledgeable conscious and aware customer” 5400675-609600Q17.Do you feel that big bazaar provide you value for money?a)YES85b)NO15INTERPRETATION:Out of 100 respondent, 85% of the respondents feel that big bazaar provide you value for money, 15% feel not.“discovering more value” The above statement is true spotted by the above data. 5400675-609600FINDINGSStore performing well in attracting the customers.Big bazaar provides better shopping experience. Brands and products availability in big bazaar is not up to the mark. Especially in apparels. Noisy and unpleasant environment is irritates customer. Air conditioning is really good.Discounts and offers doing well in the store.In offer days the store management is good.Home delivery services are not used by customer.Product display and signage is good.Quality in products is not up to the mark.Location of big bazaar is outstanding. It is situated central business district (CBD)Parking facility in big bazaar is good.Cleanliness and hygiene maintained in the store is up to the mark“discovering more value” The above statement is true spotted by the above data. 5381625-609600RECOMMENDATIONSCreate awareness & manage home delivery services properly.There should be proper assortment of various product categories.Proper signage should be there so that customer can locate the products easily.Cleanliness and hygiene should be maintained regularly.Proper training should be provided to sales person so that they can deal with the customer efficiently.Various schemes and offers can be provided to them and attract new customers (Use pull strategy).No. of cash counter needs to be increased keeping in view customer traffic intensity.Quality in products should be increased up to mark. 5381625-571500Limitations of the studyTime limit is the major constraint.Some respondents refuse to co-operate.Some respondents replied half heartedly.Some respondents gave incomplete information.The survey was conducted in very general way as no other variable such as their education level, occupation and sex.BIBLIOGRAPHYBOOK REFERRED:Research methodology (C.R. Kothari)Retailing Management (Levy & weitz) WEB SITES:www.pantaloon.comQUESTIONNAIRE 5394918-387343PERSONAL INFORMATIONDear sir/ Madam, I Priti Pranita Khatua conducting a survey on “Effectiveness of retailing mix in Big Bazaar’’ This survey is a part of my partial fulfillment of PGDM (RM) course. Please provide relevant information by filling this questionnaire to make my survey more comprehensive. All details from your part will be kept confidential. Name:- ………………………………………………………….. Sex:-a) Male b) Female Contact no.:- …………………………………………………………Q1. In a month how many times you visit big bazaar ?a) Onesb) twice c) Thriced) more than thrice e) As per requirementQ2. Your shopping experience in big bazaar is always!a) Outstanding b) Excellent c) Good d) Average e) BadQ3. Brands and products availability in big bazaar is !a) Outstanding b) Excellent c)Good d) Average e) BadQ4. Ambience & atmosphere inside the store is !a) Outstanding b) Excellent c)Good d) Average e) BadQ5. Discounts and offers served in big bazaar is !a) Outstanding b) Excellent c)Good d) Average e) BadQ6. Home delivery services of big bazaar is !a) Outstanding b) Excellent c)Good d) Average e) Bad Q7. Location 0f big bazaar in your city is !a) Outstanding b) Excellent c)Good d) Average e) BadQ8. Product display and signage in the store is !a) Outstanding b) Excellent c)Good d) Average e) BadQ9. In offer days the shopping experience in the store is!a) Outstanding b) Excellent c)Good d) Average e) BadQ10. Is it easy to move with the trolley in the store?a) Yesb) NoQ11. How do you feel about sales persons and promoters ?a) Outstanding b) Excellent c)Good d) Average e) BadQ12. Are you satisfied with the billing facility at the store ?a) Yesb) No Q13.The parking facility in bag bazaar is!a) Outstanding b) Excellent c)Good d) Average e) BadQ14. The quality of the product served by big bazaar is !a) Outstanding b) Excellent c)Good d) Average e) BadQ15. The cleanliness and hygiene maintained in the store is !a) Outstanding b) Excellent c)Good d) Average e) BadQ16. Do you feel that shopping in big bazaar has made you a more knowledgeable conscious and aware customer?a) Yesb) no Q17.Do you feel that bag bazaar provide you value for money?a)yes b)No (Signature) Thanking you for filling up this questionnaire5381625-590550LOCATION k Big Bazaar, Jail road Buxi BazaarPin : 753005 Phone : 0681–3052032Zonal Office :Pantaloon Retail (India) Limited, 03-097,Fourth Floor,Block No - BG, Plot No.5, Action Area - 1B, Block By Block Shopping Mall,P.O. - New Town, (Near Indian Oil Petrol Pump)Kolkata - 700 156Tel:  +91 033-3091 7500/51Fax: +91 033-3091 7502e-mail: east.region@pantaloon.comRegd. Office :Knowledge House, Shayam Nagar, Off. Jogeshwari-Vikhroli Link Road,Jogeshwari East, Mumbai 400060. India Ph +91 22 66442200, Fax +91 22 66442201</li></ul>s<br />

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