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Analysis of 4P's of Westside
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Analysis of 4P's of Westside

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Complete STP and 4P's Analysis of Westside along with suggestions.

Complete STP and 4P's Analysis of Westside along with suggestions.

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  • 1. Trent (Westside) By- Prateek Jain, 2010163 Rohan Mehra, 2010184 Rohit Deshmukh, 2010185 Sankarshan Joshi, 2010202 Sayantan Banerjee, 2010204
  • 2. Agenda-
    • Introduction
    • Features
    • STP
    • 4 P’s
      • Product
      • Price
      • Place
      • Promotion
  • 3. Mission Statement-
    • “ To be the most preferred and consistently profitable lifestyle retailer.”
  • 4. A word on Westside
    • Started by Mrs. Simone Tata after acquiring Littlewoods.
    • Today, it has reached 28 cities with 49 stores.
    • Currently headed by Noel Tata.
    • Designed to cater to shopping needs of various customers.
  • 5. Contd…
    • The store sizes range between 15000-30000 sq. feet.
    • Annual Sales for 2010 was Rs. 543 cr.
    • With net profit of Rs. 40 cr.
  • 6. Features
    • Designed to be one-stop
    • shop for complete family.
    • Offers broad product variety.
    • There is huge price band.
  • 7. STP of Westside
    • Segmentation and Targeting
      • Demographic
        • Family
      • Economic
        • Upper middle and lower upper class
      • Psychographic
        • Lifestyle types.
  • 8. STP of Westside
    • 2. Positioning
      • Initially started off with “Fashion at affordable price”
  • 9. Westside as a “Brand”
    • The name itself gives an upbeat feel.
    • The stores are designed to convey this message.
  • 10. 4 P’s
  • 11. Product Strategy
    • Has about 7-8 product category.
    • Displays majorly in-house brand.
    • Has tie-ups with other brands.
  • 12. Product Range-
    • Men’s Wear and Accessories.
    • Women’s Wear and accessories.
    • Kid’s Wear.
    • Crockery and Kitchen.
    • Daily Necessities.
    • Branded Jewellery
    • Gift items.
    • Furniture.
    • Footwear.
    • Interior decoration.
  • 13. Beyond Products
    • Employees are trained on various aspects like:
      • Product Knowledge.
      • Workplace Ethics.
      • Communication Skills
      • Courteousness.
  • 14. Comment on Product Strategy
    • Based on Product strategy, it is unable to separate itself from its competitors.
    • There seems to be a lack of consistency.
  • 15. Price Strategy
    • Pricing decisions consistent with firm’s marketing strategy and target market.
    • They believe in democratizing their service and charging fair price.
    • Offers Value for Money proposition for consumers, especially by offering their own brands.
    • Helps to augment their sales margin.
  • 16. Contd…
    • In recent past, a lot of price variations in company’s products were made.
    • It aimed to target all customer groups.
  • 17. Pricing Contd..
    • Types of Pricing:
      • Promotional discounts
      • Seasonal Pricing
      • Image Pricing.
      • Product form Pricing
      • Psychological Pricing
      • Product bundling Pricing
      • Value Pricing.
  • 18. Market Survey on Pricing
  • 19. Place strategy
    • Chain of stores mainly functioning in malls.
    • Stores mostly located very near its competitor.
    • Products distributed from Mumbai headquarter.
    • Stock replenishment done mainly on Fridays.
  • 20. Place strategy Contd…
    • Product availability mainly depends on the city of operations.
    • Opening of exclusive store to women, keeping in mind that, women form the biggest and most loyal customer base for them.
  • 21. Promotion Strategy
  • 22. Strategies-
    • Promote in-house brand, with some space for some international labels.
    • Tie-up with some renowned designers.
    • In 2002, Yuvraj Singh was chosen as Brand Ambassador.
    • Club west card membership to retain the customers.
    • Theme based stores. Like one in Shalimar Bagh(Westside Woman).
  • 23.  
  • 24.  
  • 25. Problems faced by Westside-
    • Target customer base changed over time.
    • Not much shelf-space is given to the International brands.
    • Customer preferences are changing from in-house labels to international brands.
    • Lesser media promotions.
  • 26. Competitors
    • Pantaloons
    • Ruchi’s Big life
    • Maxx
    • Shoppers Stop
    • Globus
    • Big Bazaar
  • 27.  
  • 28.  
  • 29.  
  • 30. Strategies adopted by Westside-
    • Aiming to increase their customer base by adding the international brands in their product basket.
  • 31.  
  • 32. Strategies adopted by Westside-
    • Planning to introduce canned continental food like sushi, wine and cheese on their counters.
  • 33. What should they do?
    • Westside should spend on media promotion.
    • Hire appropriate Brand Ambassador, depending on the type of customer they target.
    • Should try to increase their theme based shops.
    • Positioning needs to be done more efficiently.
  • 34. HAPPY SHOPPING!