Retail shops comes under service sector mangement.
ABSTRACT:India is loand increasing RETAIL opportunities. Retailing has bright prospects, propelled by the lifestyle changes taking place among the customers. The retailers have realized that creating superior customer service is the key for their success. The challenge to the retailer is not only to satisfy the customers, but also to delight and retain relationship with the customers.
In this situation, well carved-out retail marketing strategy is essential which is specially designed for maintaining Customer Relationship Management and also which is the need of the hour.
MISSION“ TO BE THE LOWEST PRICED RETAILER IN THE AREA OF OPERATION / CITY / REGION.” VISION IT IS OUR CONTINOUS ENDAVOUR TO INVESTIGATE, IDENTIFY & MAKE AVAILABLE NEW PRODUCT CATEGORIES FOR CUSTOMER’S EVERYDAY USE & AT THE BEST VALUES THAN ANYBODY ELSE
LOCATION Situated at Koparkhairane since the last seven years. This area has got lot of potential in terms of customers.The middle income group mainly resides here and nearby areas. There is lot of traffic (both vehicular and pedestrian). Also it is easy to access from Koparkhairane side since TMT, NMMT, KDMT and BEST bus stop is nearby.
Large frontage makes mall clearly visible from outside. ATMs are available near the mall for one to withdraw money, if required.
LAYOUT All FMCG products which are used daily are kept on the ground floor The Vegetables and medicines counter are also situated on the ground floor. The first floor is mainly for apparels/Garments. Mens, women and kids wear are available on this floor The second floor stores all the home appliances, utensils, sports equipments, and gift articles etc.
Each section has one attendant on average. The floor cleaning activity is outsourced.
EXTERIOR DESIGN The exterior also houses baggage counters and safe deposits Certain food and refreshment stalls for the shoppers to enjoy. Metal railing are built for the shoppers to sit and rest. Security personnels are employed to check the customers with metal detectors for security reasons. There is a single door for entry, whereas two doors for exit.
Located in the middle of koparkhairane. The exterior design is very ordinary and functional at best. It consists of a three storey complex. The building is painted white with D-MART logo clearly visible from the road.
INTERIOR DESIGN The interiors are green, associating it with the colour of their logo. The whole store was floored with ceramic tiles. Adequate light was focusing on product for the convenience of the customers. Music was pure soft hindi music which appealed to the target customers.
CATEGORY OF PRODUCTS 1. Grocery 8. Cosmetic Items/ 2. Fruit & Vegetables Beauty care 3. Beverages 9. Medicines 4. Frozen Food 10. Household utensil 5. Dairy products 11. Fashion accessories. 6. Personal and 12. Movie CD’s and Home care Gifts articles 7. Footwares 13.Apparels/Garments
MERCHANDISE The product mix is good & lot of variety is available. The assortments for apparels is done as per the price and size. The D-Mart offer price and the Max. Retail Price both were visible on the price card During the festival season, the festival items are kept in the main area. A wide variety of festival and decorative items for Ganpati and Navratri festival are kept along the main passage.
The whole area was divided as per the products that they offered like apparels, stationeries, crockery’s, sanitary items, gift articles, steel items, detergents, vegetables, fruits, etc.
ADVERTISING & PROMOTION D-Mart hoardings can be found on the lamp-posts on major roads in Navi Mumbai area. D-MART usually advertises in major newspapers giving information about their latest offers Promotion and sales offers were present for most of the items. E.g. There were a discount of 10 % on all CINTHOL products and Cadbury chocolates.
There was one separate whole shelf for products that were offered at huge discount for instance “HALDIRAM” sweets were selling at Rs.25 wherein the actual MRP was Rs.45.
PRICING The prices offered are economical in D-mart. EDLP (Everyday low pricing) pricing strategy is followed. D-Mart offers minimum 2% to 10% discount on MRP and straight 5% on medical product, except grocery, vegetables and fruit items. (Bundled price) Two or more products were packed and were available at a discounted price. E.g.:- Santoor soap bundled along with a Wipro CFL bulb.
Multiple unit pricing: - This strategy was followed for stimulating sales. E.g.:- Soap bars bundled together
CRM STRATEGIES /PRACTICES Setting up an Image of a DISCOUNT STORE:- Now day’s people more attract towards discount stores. D-Mart is Retail store which come with the discount rate of product. They give discount on all the daily usage product. Because of this customer’s are automatically attract towards them.
Offers VALUE FOR MONEY. Provides a lot of offers:- Some for a specific period Some throughout the year TARGET GROUP:- Valueconscious Upper / Lower middle income customers.
SWOT ANALYSIS FOR D-MART STRENGTH: - Low price, competitive price - Good/stable image as a retail store - Spacious and situated at a prime location WEAKNESS: - Low brand loyalty among customers. Big bazaar has huge loyalty factor - Poor space utilization in stores.
- No backing of a known corporate/businesshouse. - Doesn’t sell electronic equipments, which arecurrently in huge demand.eg Laptops,Plasma TV’s,Digital cameras,Mobile phones. - Stand alone stores, not situated in anycommercial building/malls/hub.
OPPORTUNITIES: - Booming retail sector. - Limited presence in Suburbs, town markets can be potential untapped markets in major cities. THREAT: - Presence of competitors like Big bazar, Walmart, Reliance retail. - Global Retail MNC’ S can open individual stores once FDI cap is removed.