Big bazaar is an Indian retail store that operates as a chain of
Hypermarkets,discount department stores and grocery stores.
The retail chain was founded by Kishore Biyani under his parent organization Future group in 2001.
Big bazaar covering three essential categories
in Indian market home,food and fashion
Food bazar and Fbb are integral part of
big bazaar.
Big bazaar is an Indian retail store that operates as a chain of
Hypermarkets,discount department stores and grocery stores.
The retail chain was founded by Kishore Biyani under his parent organization Future group in 2001.
Big bazaar covering three essential categories
in Indian market home,food and fashion
Food bazar and Fbb are integral part of
big bazaar.
1. Product
Retailers must have the right assortment of products and sell them in a manner compatible with their marketing view retailers must decide on the number of assortments in the store and the number of products in each range. In addition, they must select the quality of the articles within each category, decide on pricing policy. Finally, retailers must determine if the assortments should generally be stable over time
2. Price
A price strategy should reflect the company's own objectives and be related to the sales and profit. The goals to be achieved can be established as income and/ or volume units.
a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
b) High price strategy is used by the company to attract customers who are not concerned about the price, but the service and prestige. Usually the strategy does not maximize sales, but brings great profit per unit.
c) Cost-oriented pricing strategy The retailer sets the price, adding the operating expenses and desired profit to the cost per unit. The difference between the merchandise cost and the selling price is the trade margin. With a variable margin policy, retailers adjust the margins on merchandise categories.
d) The strategy of prices adjustment to market conditions The retailer may adjust prices according to the demand or market segment. The best example of adapting the retailer prices from Romania to the market demand are represented by some food prices (oil, sugar, flour) and durable goods prices (electronics, appliances, cars) in 2008.
e) Competition-oriented price strategy A retailer can use competition prices as guide. A company may not modify prices if there have been changes in demand or costs, if they are not modified by competition. Similarly, a firm may change its prices if the competition changes them, even if there have not been changes in demand or costs.
3. Place
Some specialists substituted in the literature the term "distribution channel" with "marketing channel” This change aims to emphasize the role of intermediaries in the distribution process, to create value for users or consumers, adding the utility of form, possession, time and place. In addition, the role of marketing channels is not only to participate in demand satisfaction by offering goods and services, but it also requires active participation to stimulate demand through information, creating proximity and promotion developed by members of the economic units network that form the channel. The product must be available at the right place (Product category), at the right time (time you sell your product), and in the right quantity (enough stock).
4. Promotion
Some specialists considers that the role of the promotion policy in the retail business is to attract potential consumers (creating traffic in store) to convert visitors into consumers and to retain buye
1. Product
Retailers must have the right assortment of products and sell them in a manner compatible with their marketing view retailers must decide on the number of assortments in the store and the number of products in each range. In addition, they must select the quality of the articles within each category, decide on pricing policy. Finally, retailers must determine if the assortments should generally be stable over time
2. Price
A price strategy should reflect the company's own objectives and be related to the sales and profit. The goals to be achieved can be established as income and/ or volume units.
a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
b) High price strategy is used by the company to attract customers who are not concerned about the price, but the service and prestige. Usually the strategy does not maximize sales, but brings great profit per unit.
c) Cost-oriented pricing strategy The retailer sets the price, adding the operating expenses and desired profit to the cost per unit. The difference between the merchandise cost and the selling price is the trade margin. With a variable margin policy, retailers adjust the margins on merchandise categories.
d) The strategy of prices adjustment to market conditions The retailer may adjust prices according to the demand or market segment. The best example of adapting the retailer prices from Romania to the market demand are represented by some food prices (oil, sugar, flour) and durable goods prices (electronics, appliances, cars) in 2008.
e) Competition-oriented price strategy A retailer can use competition prices as guide. A company may not modify prices if there have been changes in demand or costs, if they are not modified by competition. Similarly, a firm may change its prices if the competition changes them, even if there have not been changes in demand or costs.
3. Place
Some specialists substituted in the literature the term "distribution channel" with "marketing channel” This change aims to emphasize the role of intermediaries in the distribution process, to create value for users or consumers, adding the utility of form, possession, time and place. In addition, the role of marketing channels is not only to participate in demand satisfaction by offering goods and services, but it also requires active participation to stimulate demand through information, creating proximity and promotion developed by members of the economic units network that form the channel. The product must be available at the right place (Product category), at the right time (time you sell your product), and in the right quantity (enough stock).
4. Promotion
Some specialists considers that the role of the promotion policy in the retail business is to attract potential consumers (creating traffic in store) to convert visitors into consumers and to retain buye
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2. INTRODUCTION
• Big Bazaar was formed in 2001.
• The founder of Big Bazaar is Kishore Biyani.
• In 2010, Big Bazaar was ranked 6th amongst the top 50 service brands in India.
• It is the largest Hypermarket chain which was first started in Kolkata, Bangalore &
Hyderabad.
• There are total 215 Outlets in India.
• Revenue generated by Big Bazaar in Financial year 2014 was 500Cr.
• Number of Employees : 36,000+
• Major Target Customers of Big Bazaar are : Middle and lower Class which includes
service class i.e. 55% of the Indian population.
3.
4. CONSUMER MODELLING
• CONSUMER ECONOMIC MODEL :
• Consumer wants to get aware about the
product which he is going to purchase in the
future.
• Big Bazaar is providing amenities for all the
various age groups.
• Consumers, under cognitive dissonance.
• Price factor plays a vital role in consumers
perception.
5.
6. NICOSIA MODEL Search for Information &
Evaluation
Consumer Attribute
Purchase
Consumption
7.
8. SOCIOLOGICAL MODEL
• Big Bazaar fulfilling the physiological & social needs in the Maslow hierarchy.
• 33% of the consumer are in the age group of 20-30 that is the youth of the country.
• Monthly earning of about 20,000-30,000 & above.
• Youth becoming responsible it’s the social responsibility to look after once family &
peer.
9. CONSUMER PERCEPTION
• Big Bazaar is preferred by its customer for its pricing strategy as Big Bazaar has
always targeted growing middle class segment .
• Major attraction to the store are students and youngsters who are dependent on their
parents for the income.
• Home Maker , as it is convenient for them to buy product as per their monthly budget
since they are the decision maker of their kitchen.
• Quality product offer at the attractive pricing is the major attraction point of customers.
11. CONTD…
• Whenever, these types of offer are given by Big Bazaar , they have always seen a rise
in their sales and number of customers visiting the market.
• So we can conclude that the overall perception of the customers towards the store is
positive and are satisfied with the way the store is managed.
12. CONSUMER LIFESTYLES AND
PSYCHOGRAPHICS
• Consumer’s personality is unique to each individual.They influences responses to the
environment according to their different income level and lifestyle.
• Marketers want to understand personality so they can segment consumers as far as
activities, tastes and lifestyles (psychographics),the better they understand the
consumer the more accurate a marketing campaign could be.
• Big Bazaar focusses on the activities,attitudes,interests,opinions,values and allocation
of income
of the different level of consumers.
13.
14. CONSUMER’S MOTIVATION
• As, motivation is the driving force within individuals that impels to action,it is the
activation or energization of goal oriented behavior.
• A consumer is motivated by the several initiatives being led by the Big Bazaar like T24
Sim Card,Wednesday Bazaar,Maha Bachat sales and Profit club Membership.
• Recently,they have started the Home Delivery scheme and Direct Ordering of goods
online by sitting at their home or workplace,which are motivating their customers to do
shopping on a regular basis.
