I NTRODUCTION OF THE TOPICBenchmarking is the process of comparing onesbusiness processes and performance metrics to industrybests and/or best practices from other industries.The term benchmarking was first used by cobblers tomeasure peoples feet for shoes. They would placesomeones foot on a "bench" and mark it out to makethe pattern for the shoes.
FUTURE GROUPFuture Group, led by its founder and GroupCEO, Mr. Kishore Biyani, is one of India’sleading business houses with multiplebusinesses spanning across theconsumption space. While retail forms thecore business activity of Future Group,group subsidiaries are present in consumerfinance, capital, insurance, leisure andentertainment, brand development, retailreal estate development, retail media andlogistics.
Mr. Kishore Biyani Founder and Group CEO, Future GroupConsidered a pioneer of modern retail inIndia, Kishore’s leadership has led the group’stransformation into India’s leading player inthe consumption sector.Regularly ranked among India’s most admiredCEOs, he is the author of the book ‘ItHappened in India’.He has won multiple awards from governmentbodies and the private sector in India andabroad and is on the board of a number ofbodies, including the National InnovationFoundation in India and New York FashionBoard.
BIG BAZAAR Big Bazaar was launched in September, 2001 with the opening of its first four stores in Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years, there are now 148 Big Bazaar stores in 80 cities and towns across India. Big Bazaar is designed as an agglomeration of bazaars or Indian markets with clusters offering a wide range of merchandise including fashion and apparels, food products, general merchandise, furniture, electronics, books, fast food and leisure and entertainment sections.
FOOD BAZAAR Food Bazaar, a supermarket format was incorporated within Big Bazaar in 2002 and is now present within every Big Bazaar as well as in independent locations. The share of private labels as a percentage of total Food Bazaar revenues has increased significantly and comprise nearly 50 merchandise categories. 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.
ORGANISATION STRUCTURE IN A RETAIL STORE Store Manager Assistant Store Manager Department ManagerAssistant Department Manager Team Leader Team Members
T HE GROUP ’ S SPECIALTY RETAIL FORMATS INCLUDE :- Supermarket chain - Food Bazaar Sportswear retailer - Planet Sports Electronics retailer – eZone Home improvement chain -Home Town Rural retail chain - Aadhaar Online shopping portal - www.futurebazaar.com.
O BJECTIVES OF THE STUDY • Competitive benchmarking of Big BazaarPrimary with More Store.Objective • To understand the availability of products in the store. • To identify the effectiveness of atmosphericsSecondary in the store.Objectives • To understand the quality of services maintained in the store.
R ESEARCH M ETHODOLOGYResearch Design Type of research - Descriptive Type of data – Primary data - Structured Questionnaire Secondary Data – Internet, Journals, Newspaper, etc.Statistical tools to be used Data analysis technique - Quantitative Data analysis tool - Bar charts, Pie charts.
R ESEARCH M ETHODOLOGYSampling Framework Sampling - Convenient sampling Sample size - 100Data Collection Methods Data is collected through structured questionnaire.
C OMPETITIVE BENCHMARKING OFB IG B AZAAR WITH M ORE S TORE Prices of products are cheaper in comparison to other stores? Yes No 6% 94%INTERPRETATION:Out of 100 respondents, 96% of them found the prices less in comparison to otherstores whereas only 4% feel not.“isse sasta aur achha kahin nahin”The above statement is true spotted by the above data.
TO UNDERSTAND THE AVAILABILITY OF PRODUCTS IN THE STORE . Is it easy to reach or find every product? Yes No 4% 96%INTERPRETATION:Out of 100 respondents, 96% are satisfied with the product display andsignage in the store whereas only 4% feel hard to find product.Customers are satisfied with Product display and signage in the store.
TO UNDERSTAND THE AVAILABILITY OF PRODUCTS IN THE STORE . Desired Brands are available in Big Bazaar - Yes No 27% 73%INTERPRETATION:Out of 100 respondents, 73% of them are satisfied with the brandsavailable in Big Bazaar whereas 27% of them requires more brands.More brands are required in electronics and apparels.
TO IDENTIFY THE EFFECTIVENESS OF ATMOSPHERICS IN THE STORE Environment in Big Bazaar 80 60 40 20 0 Clean & Satisfactory Poor HygenicINTERPRETATION:According to maximum number of respondent i.e. 70% feels that cleanliness andhygiene maintained in the store is up to the mark rest 28% feel it satisfactory and2% fell it is not up to the mark.Cleanliness and hygiene maintained in the store is up to the mark.
TO UNDERSTAND THE QUALITY OF SERVICES MAINTAINED IN THE STORE Behaviour of Sales persons/ promoters is - 100 80 60 40 20 0 Excellent Good Satisfactory PoorINTERPRETATION:Out of 100 respondents, 82% rated good, 18% ared satisfactory but no one rated themexcellent or poor.Sales persons/ promoters behave well with customers.
TO UNDERSTAND THE QUALITY OF SERVICES MAINTAINED IN THE STORE Functioning of Billing Counter 100 80 60 40 20 0 Excellent Good Satisfactory PoorINTERPRETATION:Out of 100 respondents, 86% of people said that services are good, 13% saidsatisfactory, only 1% said it excellent and nobody has said ill about the services,Maximum number of people are highly satisfied with the billing counters of BigBazaar.
F INDINGS OF THE STUDY• Store performing well in attracting the customers.• Big bazaar provides better shopping experience.• Sales persons/ promoters behave well with customers.• Brands availability in big bazaar is up to the mark. But more brands are desired in apparels and electronics.• Discounts and offers doing well in the store.• Product display and signage is good.• Location of big bazaar is outstanding. Parking facility in big bazaar is good.• Cleanliness and hygiene maintained in the store is up to the mark. “isse sasta aur achha kahin nahin” “discovering more value” The above statements are true spotted by the above data.
Price Comparison of products of Chill Section with More.S.No. Product Offer Price Big Bazaar More1. Pepsi, Mirinda, Mountain Dew Rs. 95 for 2 Rs. 94 for 2 (2 L)2. Coca Cola, Fanta (2 L) Rs. 101 for 2 Rs. 493. Frooti (2 L) Rs. 140 for 2 Rs. 704. Onjus Juice (1 L) Buy 1, Buy 1, Get 1 free Get 1 free5. Real Mango Juice (1L) Rs. 65 Rs. 636. Maaza (1.2 L) Rs.95 for 2 Rs. 41
Price Comparison of products of Chill Section with More. S.No. Product Offer Price Big Bazaar More 8. Appy (Pack of 8) Rs. 60 Rs. 68.50 9. Frooti (Pack of 8) Rs. 60 Rs. 68.50 10. Dabur Sharbat – e- Rs.90 Rs.102 Azam 11. Butter M.R.P. Re. 1 less than M.R.P. 12. Cheese M.R.P. Re. 1 less than INTERPRETATION: M.R.P. Big Bazaar has created an image of low prices in the market and the customers also admit. But by comparing prices of some products of Chill Section (i.e. Beverages, Juices, Dairy Products, etc) of Big Bazaar with More Store, it was found that more store is offering less prices than that of Big Bazaar.
CONCLUSIONS, IMPLICATI ONS AND RECOMMENDATIONS• Create more awareness.• 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).• Number of cash counter needs to be increased keeping in view customer traffic intensity (especially on Wednesday, Weekends and Big Days).• Quality in products should be increased up to mark.• More brands should be made available in the store.• Chill section must be nearer to entry or exit gate.• More offers are required in the Chill section of Big Bazaar to compete with more store.