Retail Sector is the most booming sector in the Indian economy. Some of the biggest players of the world are going to enter the industry soon. It is on the threshold of bringing the next big revolution after the IT sector.
The sector contributes 10% of the GDP, and is estimated to show 20% annual growth rate by the end of the decade as against the current growth rate of 8.5%.
There are about 300 new malls, 1500 supermarkets and 325 departmental stores currently being built in the cities across India.
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading business houses with multiple businesses
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 80 cities in India,13.2 million 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, futurebuzzar.com
Introduction about the industry to which the company belong to.
Future Group India was established in 1994 with a vision to provide diverse services in Indian and Global markets. The business areas of Future Group cover BPO (Business Process Outsourcing), New Media, Security Management, and Construction. Through their strategic investment and services, the future of Future Group shows a rising star in the business sky of India.
FUTURE RETAIL: The retails businesses of Future Group in India are divided into three main categories: Pantaloon Retail India Limited The leading retail formats under this include:
F. Theoretical overview of the terms used in the SERVQUAL gap model.
The Customer Gap
Not Knowing What customer expect
Not Selecting the right service design & standards
Not delivering to service designs & standards
Not matching performance to promises
Customers’ Service Expectations CUSTOMER SERVICE ORGANIZATION Customers’ Service Perceptions GAP 5 Service Quality Gap Organization’s Understanding of Expectations Organization’s Service Standards Organization’s Service Performance Organization’s Communications to Customers Market Information Gap Service Performance Gap Internal Communication Gap Service Standards Gap GAP 1 GAP 2 GAP 3 GAP 4
Gap 2 Customer- driven service Designs & standards Management perception Of customer expectations
1.Poor service design
-Unsystematic new service development process
Un defefined service designs
Failure to connect service design to service positioning
2.Absence of process management to focus on customer
-absence of process management to focus on
-absence of formal process for setting service quality goals
3. Inappropriate physical evidence & servicescape
Failure to develop tangibles in line with customer
-servicescape design that does not meet customer needs
- Inadequate maintenance & updating of the servicescape