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A Merchandising philosophy of Big Bazzar.

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  3. 3. INTRODUCTION: Retailing involves all activities incidental to selling to ultimate consumer for their personnel family and household use. It does this by organizing their availability on a relatively large scale and supplying them to a customer on a relatively small scale. Retailer is any person/organization instrumental in reaching the goods or merchandise or services to the end users. Retailer is a must and cannot be eliminated. The Indian retailing industry is becoming intensely competitive, as more and more payers are Vying for the same set of customers. The major retail players are Pantaloon Retail, Shoppers Stop, Reliance etc. Retailing is one of the biggest sectors and it is witnessing revolution in India. The new entrant in retailing in India signifies the beginning of retail revolution. India's retail market is expected to grow tremendously in next few years. According to AT Kearney, the’ Windows of Opportunity’ shows that Retailing in India was at opening stage in 1995 and now it is in peaking stage in 2006. India's retail market is expected to grow tremendously in next few years. India shows US$330 billion retail market that is expected to grow 10% a year, with modern retailing just beginning. India ranks first in 2005. In fact, in 2005 and 2006, India is the most compelling opportunity for retailers, because now India is in peaking stage. 3|Page
  4. 4. COMPANY PROFILE 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 7 millions square feet of retail space, has over 1000 stores across 53 cities in India and employs over 25,000 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, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, all, Top 10, bazaar and Star and Sitara. The company also operates an online portal, Big Bazaar is not just another hypermarket. It caters to every need of your family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers. At Big Bazaar, you will definitely get the best products at the best prices - that’s what they guarantee. With the ever increasing array of private 4|Page
  5. 5. 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 you. And this is just the beginning. Big Bazaar plans to add much more to complete your shopping experience. FUTURE GROUP: 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 7 million square feet of retail space, has over 1000 stores of its leading retail formats include, Pantaloon, Big Bazaar, Central, Food Bazaar, Home Town, Ozone, Depot, future Money and online retail format, Future group includes, Future Capital Holding, Future Generally India Indus league clothing and Galaxy Entertainment that manages sports Bar, Brew Bar and Bowling Co. Future Capital Holding, 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. The group’s joint venture partners include Italian insurance major, generally. French retailer ETAM group. Us-based stationery products retailers, Staples Inc. and UK-based Lee Cooper and India-based Talwalkar’s, Blue Foods and Liberty Shoes. 5|Page
  6. 6. Future Group’s vision is to, “deliver Everything, Everywhere, Every time to every Indian consumer in the most profitable manner.” The group considers” as a core value and its corporate credo is- Rewrite rules, Retain values. ADDRESS OF BIG BAZAAR AT MAGNETIC SQUARE:- Big Bazaar :: Maruti Mall :: Bhubhaneshwar Address : Maruti Mall, Near KIIT Square, Patia, Bhubaneswar Pincode: 751024 State : Orissa Phone : 0674 - 272 5898 / 99 THE STRATEGY:- • Savings is the key to the Indian middle class consumer. • The Concept of Big Bazaar as the store offers large mix of products at a discounted price, the name “Big Bazaar” was finalized. • The idea was to recreate a complete bazaar, with a large product offering & offer a good depth & width in terms of range. • Price was the basic value proposition at Big Bazaar • Big Bazaar outlets sold a variety of products at prices; which were 5 to 70% lower than the Market Price. 6|Page
  7. 7. • The catch line “Is se sasta aur kahi nahi” emphasized the value of the Mall. SELECTING THE LOCATION:- • The main consideration while selecting the location was whether the low margin on the products would allow the company to sustain growth. • The group conducted a study & it was found that for a store like Big Bazaar, a large catchment area is needed. • In Bhubaneswar they have two stores located at Vani Vihar & Magnetic Square. THE MERCHANDISE MIX:- • Large Product mix offered by Big Bazaar was the main attachment. • The World stocked about 105000 items in over 18 product Categories. • In first year apparel accounted for 70% of the off take & the price was largely responsible for the success. • Price range starts from Rs 49 to Rs 250,000 according to the needs of customers. • Buying Process for most of the categories at big Bazaar is largely price driven. 7|Page
  8. 8. STORES DESIGN:- • It tells the customer what the store is all about. It creates an image in the minds of Customer .It is the starting point of all marketing efforts. For a customer store needs to be easy to navigate, it must appeal to his sensory Perceptions & must create a sense of belonging sense of relationship. The environment created in retail store is a combination of exterior look, store interiors, the atmosphere in the store & events promotions & themes which form a part of retail store. EXTERIOR DESIGN:- It is a function of location of the store site & other facilities like parking & ease of access. Store fronts is an important factor , it should be inviting & it should have good lighting & other facilities in total it should entice potential customers into store. The world is ideally located at Patia Square 4km away from Jaydev Vihar.  It is easily accessible either from Jaydev Vihar.  It has got a spacious parking lot also.  It has got a massive appeal, exterior look justifies its name “Big Bazaar” 8|Page
  9. 9. INTERIOR STORE DESIGN:- It is a function of aesthetics within the store, the merchandise sold within the space used & the overall layout of the store.  Space planning: the amount of space allocate within the store.  Location of Various department.  Creation of planogram.  Relationship of space of profitability. Big Bazaar is the three storied building, the ground floor with food & beverages. The first floor is completely apparels & home & personal care. The Second floor is completely with jewellery & decoration materials & the third floor is all about shoes, casuals, child care & toys. PRODUCT MIX:- APPARELS FOOD CHILL HOME FASHION CHILD PRODUCTS STATION & & CARE PERSONAL JEWELLERY & CARE TOYS Formal Wear Staples Soft drinks Shampoos Footwear Kids wear Denim Ready to eat Packaged Detergent Beauty Care Toy Bazaar T- shirts Juices Soap Fabrics Ready Milk items Liquid wash Bindre Stationery & to cook Cut piece 9|Page
  10. 10. Accessories Spices Frozen Cream Child Care foods Under garment Imported Ice-cream Deodorants Bazaar Night wear Tea & Coffee Utensils Party wear Plastics Sarees Crockery SPACE PLANNING:- Floor Plan--  Where merchandise & customer service department is located.  How much customers circulate through the store, & how much space is dedicated to each department. PROMOTION:-  The main idea behind every effort is to make a bulk purchase.  “Saal ke sabse sasta Teen Din” is the slogan of BIG BAZAAR.  Advertisement (Print AD,TV AD,Radio AD)  Point of purchase Promotion. 10 | P a g e
  11. 11. THEORETICAL BACKGROUND: Retailing – is the most active and attractive sector selling goods or services directly to final of the last decade. While the retailing industry consumers for personal, non business use itself has been present through history in our country, it is in the recent past it has witnessed so mush dynamism Retailing one of the largest sectors in the global economy is going through a transition phase not only in India but the world over. The study of any subject is made easier by examining it in an organized fashion. There are three classes of variables involved in understanding consumer behavior, stimulus, response and intervening variables. Stimulus variables, such as advertisement, products and hunger pangs exist in both the individuals’ external and internal environment. These generate sensory inputs to consumers. Responses variables are the resulting mental and/or physical reactions of individual who are influenced by stimulus variables. For ex: - purchasing a product or forming attitudes about it could be viewed as responses variables. 11 | P a g e
  12. 12. Many of the variables affecting consumer (such as personality, learning, and perceptions of external situations, motives, and so forth) cannot be directly observed therefore, those who want to learn about the variables affecting consumer must often make inference to determine the extent to which a given variable is having an influence The study of consumer behavior can also be quite complex, because of the many variables involved and their throw the variables, tendency to interact with and influence each other. Models of consumer behavior have been developed as a means of dealing. With this complexity. Models can help organize out thinking about consumers into a coherent into a coherent whole by identifying relevant variables, describing their basic characteristics, and specifying how the variables relate to each other. RESEARCH METHODOLOGY Research Methodology ill common parlance refers to a search for knowledge. One can also define also research as a scientific and systematic research for pertinent information a specific topic. Research is an art of systematic investigation. Some people consider research as a movement, a movement to the known to the unknown. According to Clifford Woody: - “Research comprises defining and redefining problems, formulating hypothesis or suggested solutions, collecting, organizing and evaluating 12 | P a g e
  13. 13. data, making deductions mil reaching conclusion, and at last carefully testing the conclusion to determine whether they fit the formulating hypothesis.” Marketing research is defined as a systematic gathering and analysis of the data concern with an objective. The whole activity is divided into various parts and after compilation of that we reach at certain findings, which enable us to marketing decision. It involves the diagnosis of information needed and the selection of the relevant and inter-related variables. RESEARCH PLAN: - Research Approach: SECONDARY TECHNIQUE FINDINGS AND OBSERVATIONS: 1. We found out that most of the people were affected and attracted with offers and schemes. 2. It has been found out that most of the people in Bhubaneswar city visit malls for refreshment and enjoy. 3. Consumers choose malls to stop because they all want variety and brands and shopping at malls according to the consumers is economic as compared to shopping at other places. 13 | P a g e
  14. 14. 4. Most of the people are brand loyal and most of them stack to the brand they like. 5. Advertising plays a very crucial part in the consumer decision making process and Big Bazaar is Known for Advertisement. 6. Most of the respondents take on the spot decision of buying different products because of the various attractive product displays and pretty combination which the store tries on the mannequins is mostly dependent by the customers, show that most of the consumers are attracted towards different fancy displays. 7. For most of the respondents quality plays a very important role because most of the respondents said that they want quality products’ and that’s also one reason for most of the respondents sticking to particular brands. 8. We can also say that location, variety convenience and economical products are not the only things which attract the customer but there are some other factors which play a major role in attracting the customers as mentioned. RECOMMENDATIONS: Customers are becoming price conscious they are having many options in the market considering the consumer buying behavior the malls and other shopping centers should take certain definite steps like retaining customers by giving those schemes discounts and better service. So Big Bazaar should opt for the following steps:-  Should follow more of High low pricing rather than Everyday low pricing.  Should go for weekly coupon system as it holds more of the loyal customers 14 | P a g e
  15. 15.  As it is near KIIT University so it must give more emphasis on students’ choice products like apparels, fooding, pillow, bed sheets etc. The trend today has been to combine shopping with various offerings for ex… in a mall apart from shopping a customer enjoys food courts and many others services which today’s modem malls provide. Shopping has made people spend not just on their requirements of goods to be bought but to look on the totality of the experience have a quick bite at Mc Donald’s in the mall are let the kids play fun games while one is busy shopping or even taking the family out to movie and having a dinner “ALL UNDER ONE ROOF” The benefits of this totality offering are that many vendors get to have people patronized their offerings while the shopping experience i.e.’ being enhanced more business is got by the stores at the venue. Shopping is no longer a onetime agenda for people. Various options are opening up. 15 | P a g e
  16. 16. BIBLIOGRAPHY 16 | P a g e
  17. 17. BOOKS AND MAGAZINES: • Consumer Behavior - Fourth edition by David L. London & Albert J. Delia Bitta. • Research methodology (Methods & Technology) Revised Second edition by C.R.Kothari • Retail Management ( A Strategic Approach) - Barry Berman & Joel R Evans NET RESOURCES: • • • 17 | P a g e
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