SlideShare a Scribd company logo
i
SERVICE MARKETING PROJECT
RETAIL SECTOR
WAVELENGTH STORES
DONE BY GROUP 7:
ADARSH NJ – 19DM015
ALTAMASH HASAN – 19DM027
ARCHIKA SINGH – 19DM047
GURPREET SINGH SETHI – 19DM075
MANIKANDAN BALAJI – 19DM101
NIDHI AGARWAL – 19DM123
ii
TABLE OF CONTENTS
S.NO TITLE PAGE NO
1 INTRODUCTION 1
2 MARKET SIZE 1
3 INVESTMENT SCENARIO 1
4 GOVERNMENT INITIATIVES 2
5 ROAD AHEAD 2
6 DATA COLLECTED FROM – INDIABRAND EQUITY FOUNDATION 3
7 COMPANY DESCRIPTION 3
8 MARKETING STRATEGY 4
9 7 Ps OF SERVICE MARKETING 6
10 SERVICE STRATEGY 7
11 SERVICE DESIGN/BLUEPRINTING 8
12 FINANCIAL ANALYSIS 10
13 OUR VISIT TO RETAIL OUTLETS 11
14 CUSTOMER SURVEY QUESTIONNAIRE 12
1
INTRODUCTION
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries
due to the entry of several new players. Total consumption expenditure is expected to reach
nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017. It accounts for over 10 per cent
of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India
is the world’s fifth-largest global destination in the retail space.
India is the world’s fifth largest global destination in the retail space. In FDI Confidence Index,
India ranks 16th (after U.S., Canada, Germany, United Kingdom, China, Japan, France, Australia,
Switzerland and Italy).
MARKET SIZE
Retail industry reached to US$ 950 billion in 2018 at CAGR of 13 per cent and expected to reach
US$ 1.1 trillion by 2020. Online retail sales are forecasted to grow at the rate of 31 per cent
year-on-year to reach US$ 32.70 billion in 2018. Revenue generated from online retail is
projected to grow to US$ 60 billion by 2020.
Revenue of India’s offline retailers, also known as brick and mortar (B&M) retailers, is expected
to increase by Rs 10,000-12,000 crore (US$ 1.39-2.77 billion) in FY20.
India is expected to become the world’s fastest growing e-commerce market, driven by robust
investment in the sector and rapid increase in the number of internet users. Various agencies
have high expectations about growth of Indian e-commerce markets.
Luxury market of India is expected to grow to US$ 30 billion by the end of 2018 from US$ 23.8
billion 2017 supported by growing exposure of international brands amongst Indian youth and
higher purchasing power of the upper class in tier 2 and 3 cities, according to Assocham.
INVESTMENT SCENARIO
The Indian retail trading has received Foreign Direct Investment (FDI) equity inflows totalling
US$ 1.85 billion during April 2000–June 2019, according to the Department for Promotion of
Industry and Internal Trade (DPIIT).
2
With the rising need for consumer goods in different sectors including consumer electronics
and home appliances, many companies have invested in the Indian retail space in the past few
months.
India’s retail sector investments doubled to reach Rs 1,300 crore (US$ 180.18 million) in 2018.
Walmart Investments Cooperative U.A has invested Rs 2.75 billion (US$ 37.68 million) in Wal-
Mart India Pvt Ltd.
GOVERNMENT INITIATIVES
The Government of India has taken various initiatives to improve the retail industry in India.
Some of them are listed below:
 The Government of India may change the Foreign Direct Investment (FDI) rules in food
processing, in a bid to permit e-commerce companies and foreign retailers to sell Made
in India consumer products.
 Government of India has allowed 100 per cent Foreign Direct Investment (FDI) in online
retail of goods and services through the automatic route, thereby providing clarity on
the existing businesses of e-commerce companies operating in India.
ROAD AHEAD
E-commerce is expanding steadily in the country. Customers have the ever-increasing choice of
products at the lowest rates. E-commerce is probably creating the biggest revolution in the
retail industry, and this trend would continue in the years to come. India's e-commerce industry
is forecasted to reach US$ 53 billion by 2018. Retailers should leverage the digital retail
channels (e-commerce), which would enable them to spend less money on real estate while
reaching out to more customers in tier-2 and tier-3 cities. The Union Budget 2019-20 is
expected to give boost to the rural consumption in India.
3
It is projected that by 2021 traditional retail will hold a major share of 75 per cent, organised
retail share will reach 18 per cent and e-commerce retail share will reach 7 per cent of the total
retail market.
Nevertheless, the long-term outlook for the industry is positive, supported by rising incomes,
favourable demographics, entry of foreign players, and increasing urbanisation.
DATA COLLECTED FROM- INDIA BRAND EQUITY FOUNDATION
COMPANY DESCRIPTION
Music preference is something that varies from person to person. Everyone wants
something that is unique to their ears and the retail chains of today fail to provide
customers with this service where they can truly arrive at their perfect choice of
headphones.
So, with this focus in mind, we have decided to start our own Headphone exclusive outlet
“Wavelength”. The aim of this retail outlet is to provide a service that major outlets fail to
provide which is arriving at the perfect headphones for a person after intensive testing.
4
 Vision – “Become a market leader in headphone exclusive stores”
 Mission – “Have every individual carry a headphone in his pocket that he can truly call
his own”
 Motto- Our motto is to be the pioneer for headphone and speakers exclusive outlets.
MARKETING STRATEGY
SEGMENTATION: Market segmentation is a marketing term that refers to aggregating
prospective buyers into groups or segments with common needs and who responds
similarly to a marketing action. Market segmentation enables companies to target different
categories of consumers who perceive the full value of certain products and services
differently from one another.
We are segmenting the customers according to:
Demographic: Based on age profile
 Teenagers
 College Students
 Young professionals
 Old and Retired Individuals
Geographic: Based on Geographical location
 Urban
 Semi urban
Psychographic: Based on Lifestyle
 Explorer
 Fun loving
5
Behavioral: Based on User status
 Potential User
 First time buyer
 Regular Customer
TARGETING: Targeting in marketing is a strategy that breaks a large market into smaller
segments to concentrate on a specific group of customers within that audience. It defines
a segment of customers based on their unique characteristics and focuses solely on
serving them.
We are targeting our customers according to:
Age group- The age group that we are targeting is 16- 40 years including teenagers, college
students and young professionals.
Explorers: People who are ready to try new products in the market and like to try new
technology as soon as it launches.
People residing in urban areas will be our target customers. Tier 1 and Tier 2 cities.
POSITIONING:
We want to position our brand as “the one stop solution for the audiophile in you”.
We want to be the best retailers for the speakers and headphones for our target customers.
6
7 Ps OF SERVICE MARKETING:
1. Product: The product is an integral part of the service mix. We will follow a multi-
product strategy, i.e., offering many varieties of headphones by maintaining the best
quality.
2. Price: The pricing of the goods is such that it would be at par with the competitors but
also some discounts would be offered to the customers to attract them. Vouchers would
be given to referrals and this would help in customer retention too.
3. Place: The modes of distribution will be through direct sales from stores and online
ordering through store’s official website.
4. Promotion: Various mediums to be targeted for promotions will be paid advertisements,
TV ads, Word of the mouth, Social media promotions, sales promotions, events and
experiences.
5. People: Having skilled, knowledgeable and well-groomed employees would help in
maintaining customer relations effectively and efficiently. The employees would be
having a wide understanding of all the different headphones in store and can
differentiate between one another with their feel while using rather than just the
specifications. A specific code of conduct and standards will be followed for good and
consistent hospitality which involves a friendly environment.
6. Process: The process of the store is to be keep it simple and easy. There will be
dedicated channels to contact the customer support where the customers will be
assisted. There will be a defined process for returning products and for managing store.
7. Physical evidence: The physical evidence is the presence of the store. The store would
be organized with adequate labels, direction boards, pricing labels, and display areas.
The customer can have a look around and see the service offered by the store. A
pleasing and well-designed environment will be maintained to create a sense of
ambience. Also, the most unique physical aspect of our stores is that customers can
touch, feel and use any kind of headphones they wish before deciding to purchase.
7
SERVICE STRATEGY
The sole aim of a service strategy is to provide the best customer satisfaction there is.
And in order to provide the best customer satisfaction for the retail sector, the
employees of the outlets, who are the main point of contact for the customers should
be trained effectively.
Based on our research on the topic it was found that, there exists a positive relationship
between internal marketing and job satisfaction/motivation for the employees. Hence,
for our new business, i.e. Wavelength, a retail outlet exclusively for mid-level to
premium headsets and speakers, we have decided to focus mostly on the improvement
of employee satisfaction and motivation to begin with, which will ultimately pave way to
provide the best customer satisfaction.
Other than that, some other service strategies that Wavelength will be following are:
 Attract customers with in-store experience
 Enhancing the assortment planning using AI
 Specially trained employees coach the customers through their decision journey
 Give the customers a greater connection to the products
 Simplify shopping experience at every stage
8
SERVICE DESIGN/BLUEPRINTING
9
10
FINANCIAL ANALYSIS
Profit & Loss report for the
coming 3 years 
2020 2021 2022
12 months 12 months 12 months
(In Lakhs) (In Lakhs) (In Lakhs)
I NCOME
Revenue from Operations
[Gross]
30 45 55
Revenue from Operations
[Net]
30 45 55
Other I ncome 0 2 2.5
Total Revenue 30 47 57.5
EXPENSES
Operating and Direct
Expenses
10 14 20
Employee Benefit Expenses 8 10 13
Finance Costs 12 6 5
Depreciation and Amortization
Expenses
1 1 1.5
M iscellaneous Expenses
Written Off
5 6 3.5
Other Expenses 6 6
Total Expenses 36 43 49
Profit/ Loss Before
Exceptional, Extra Ordinary
I tems and Tax
-6 4 8.5
11
OUR VISIT TO RETAIL OUTLETS
Transcript
Altamash: Good evening Sir, we are coming from BIMTECH college, can we ask you a few
questions for our project?
Manager: Yes, sure you can ask
Gurpreet: Sir we would like to ask you about the Headphones and headphone related services
you offer
Manager: Yes, though headphones is not our primary product, we do offer a few varieties of
them. What do you want to know?
Altamash: What kind of headphones do you offer sir?
Manager: We have all kinds of products from local to branded. Prices vary from 250 to 300 for
wired and go up to 6000 for Bluetooth types.
Manikandan: Do you allow customers to test all the headphones before buying?
Manager: We allow testing for all the brands except Sony.
Manikandan: Why not Sony?
Manager: Because Sony does not allow us to break the seal before a purchase and gives us
demo units for the testing purpose.
Gurpreet: Sir do you allow the testing of Bluetooth speakers as well?
Manager: Yes, we do, once again for all brands except Sony.
Altamash: What is your strategy to turn a customer to purchase a product?
Manager: Our salesperson gives them a wide variety of options in their price range and they
can choose the one which is perfect for them.
12
Gurpreet: Sir so how do you guys manage to compete with larger shops like Reliance Digital and
Chroma?
Manager: We allow testing for all headphones in our shop where these shops don’t allow that
as they don’t like to break the company seals in their products.
Altamash: What kind of after sales services do you provide sir?
Manager: We don’t do any repair work ourselves if the customer has some problem with the
product, but we replace the entire product and give them a new one. The distributer takes the
faulty product back from us.
Gurpreet: OK sir, thank you for your valuable time.
CUSTOMER SURVEY QUESTIONNAIRE RESPONSES
Questionnaire about understanding the Target Customers
Name *
Kanchan Agarwal
Age *
29
Gender *
Male
Female
Birth Place *
Dhanbad
City you are currently residing *
Gurgaon
Highest Qualification (For eg: MBA, M.Com, LLB, BBA) *
Chartered Accountant
13
Profession (for eg: Manager, Executive, Doctor, Lawyer) *
Manager
Annual Income *
Below 5lacs
5-10 lacs
10-15 lacs
15-20 lacs
above 20 lacs
Do you use earphones/headphones? *
Yes
No
When was the last time you bought earphones/headphone? *
within last 30 days
1 to 3 months
3 to 5 months
more than 5 months
Channel of purchase *
Online
Offline (retail store)
Why did you choose this channel? Please elaborate *
Better discounts
Which brand did you purchase? *
JBL
What was the cost of your headphone/earphone? *
Rs 100-500
Rs 500-1000
Rs 1000-1500
Rs 1500-2000
Rs 2000-2500
Above Rs 2500
Are you planning to purchase this item again within next 2 or 3 months? *
Yes
No
Channel from which you are most likely to make this purchase? *
14
Online
Offline
Can't say
Please elaborate why would you choose this channel? *
Better offers and discounts
Questionnaire about understanding the needs of Target Customers
Name *
Neha
Age *
23
Gender *
Male
Female
Profession (for eg: Manager, Executive, Doctor, Lawyer) *
Doctor
Annual Income *
Below 5lacs
5-10 lacs
10-15 lacs
15-20 lacs
above 20 lacs
Why did you visit this store? *
Better options
Would you like to visit an exclusive earphone/headphone store for making your purchase?
Yes
No
what do you look for when You buy earphones/headphones?
Quality, brand
Rate the below mentioned as per your priority
15
Price
Service
Brand
Quality
Availability of products
How could retail stores improve the way headphones/earphones are presented?
Better display of product
Rate the existing stores on the following criteria:
Presentation of Earphones
Very Good
1
2
3
4
5
Very Poor
Ambiance of the store
very Good
1
2
3
4
5
Very Poor
Billing Experience
very Good
1
2
3
4
5
Very Poor
Aisle salesperson behaviour
very Good
1
16
2
3
4
5
Very Poor
Availability of the brands
very Good
1
2
3
4
5
Very Poor
Pricing
very Good
1
2
3
4
5
Very Poor
Offers and discounts
very Good
1
2
3
4
5
Very Poor
Product trial
very Good
1
2
3
4
5
Very Poor
17
What would have made your service experience better?
More variety

More Related Content

What's hot

Consumers Buying Behaviour at Pantaloons Patna 2017 (Part II)
Consumers Buying Behaviour at Pantaloons Patna 2017 (Part II)Consumers Buying Behaviour at Pantaloons Patna 2017 (Part II)
Consumers Buying Behaviour at Pantaloons Patna 2017 (Part II)
Md Adeel Jawaid
 
Rashmi
RashmiRashmi
Rashmi
Raja Sn
 
Big bazaar buying behaviour of customers (1)
Big bazaar   buying behaviour of customers (1)Big bazaar   buying behaviour of customers (1)
Big bazaar buying behaviour of customers (1)
aquib rasheed
 
Private sip business plan
Private sip   business planPrivate sip   business plan
Private sip business plan
Zeeshan Mohammad
 
Mme3022 business plan
Mme3022 business planMme3022 business plan
Mme3022 business plan
Muhammad Whitebeard
 
A study of consumer perception on big bazaar
A study of consumer perception on big bazaarA study of consumer perception on big bazaar
A study of consumer perception on big bazaar
Projects Kart
 
Project on bigbazaar
Project on bigbazaarProject on bigbazaar
Project on bigbazaar
ranaitmmba
 
REPORT ON EFFECTIVENESS OF RETAILING MIX IN BIG BAZAAR
REPORT ON EFFECTIVENESS OF RETAILING MIX IN BIG BAZAARREPORT ON EFFECTIVENESS OF RETAILING MIX IN BIG BAZAAR
REPORT ON EFFECTIVENESS OF RETAILING MIX IN BIG BAZAAR
Aleen Mary Kuruvilla
 
Retail
RetailRetail
Consumer satisfacton-in-big-bazar-
Consumer satisfacton-in-big-bazar-Consumer satisfacton-in-big-bazar-
Consumer satisfacton-in-big-bazar-
sonarisu
 
Literature review 1
Literature review 1Literature review 1
Literature review 1
Ankita Sao
 
Marketing Strategies of Pantaloons Pvt. Ltd.
Marketing Strategies of Pantaloons Pvt. Ltd. Marketing Strategies of Pantaloons Pvt. Ltd.
Marketing Strategies of Pantaloons Pvt. Ltd.
Aakash Jain
 
yedu tajsekhar
yedu tajsekharyedu tajsekhar
yedu tajsekhar
rajsekhar100
 
FACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLS
FACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLSFACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLS
FACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLS
Girish Kumar
 
CUSTOMER BUYING BEHAVIOUR AT PANTALOONS
CUSTOMER BUYING BEHAVIOUR AT PANTALOONSCUSTOMER BUYING BEHAVIOUR AT PANTALOONS
CUSTOMER BUYING BEHAVIOUR AT PANTALOONS
Srihari Reddy
 
A study on customer satisfaction and customer service at pantaloons
A study on customer satisfaction and customer service at pantaloonsA study on customer satisfaction and customer service at pantaloons
A study on customer satisfaction and customer service at pantaloons
Aniket Mishra
 
Sip presentation at pantaloons , bbsr
Sip presentation at pantaloons , bbsrSip presentation at pantaloons , bbsr
Sip presentation at pantaloons , bbsr
SURAJ KUMAR MEHER
 
Retailing in india
Retailing in indiaRetailing in india
Retailing in india
Koteswararao Kalangi
 
Report on big bazaar
Report on big bazaarReport on big bazaar
Report on big bazaar
Vicky Yadav
 
A research project report on comparative study of vishal megamart and its com...
A research project report on comparative study of vishal megamart and its com...A research project report on comparative study of vishal megamart and its com...
A research project report on comparative study of vishal megamart and its com...
Projects Kart
 

What's hot (20)

Consumers Buying Behaviour at Pantaloons Patna 2017 (Part II)
Consumers Buying Behaviour at Pantaloons Patna 2017 (Part II)Consumers Buying Behaviour at Pantaloons Patna 2017 (Part II)
Consumers Buying Behaviour at Pantaloons Patna 2017 (Part II)
 
Rashmi
RashmiRashmi
Rashmi
 
Big bazaar buying behaviour of customers (1)
Big bazaar   buying behaviour of customers (1)Big bazaar   buying behaviour of customers (1)
Big bazaar buying behaviour of customers (1)
 
Private sip business plan
Private sip   business planPrivate sip   business plan
Private sip business plan
 
Mme3022 business plan
Mme3022 business planMme3022 business plan
Mme3022 business plan
 
A study of consumer perception on big bazaar
A study of consumer perception on big bazaarA study of consumer perception on big bazaar
A study of consumer perception on big bazaar
 
Project on bigbazaar
Project on bigbazaarProject on bigbazaar
Project on bigbazaar
 
REPORT ON EFFECTIVENESS OF RETAILING MIX IN BIG BAZAAR
REPORT ON EFFECTIVENESS OF RETAILING MIX IN BIG BAZAARREPORT ON EFFECTIVENESS OF RETAILING MIX IN BIG BAZAAR
REPORT ON EFFECTIVENESS OF RETAILING MIX IN BIG BAZAAR
 
Retail
RetailRetail
Retail
 
Consumer satisfacton-in-big-bazar-
Consumer satisfacton-in-big-bazar-Consumer satisfacton-in-big-bazar-
Consumer satisfacton-in-big-bazar-
 
Literature review 1
Literature review 1Literature review 1
Literature review 1
 
Marketing Strategies of Pantaloons Pvt. Ltd.
Marketing Strategies of Pantaloons Pvt. Ltd. Marketing Strategies of Pantaloons Pvt. Ltd.
Marketing Strategies of Pantaloons Pvt. Ltd.
 
yedu tajsekhar
yedu tajsekharyedu tajsekhar
yedu tajsekhar
 
FACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLS
FACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLSFACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLS
FACTORS AFFECTING CONSUMER BEHAVIOUR WHILE SHOPPING AT SHOPPING MALLS
 
CUSTOMER BUYING BEHAVIOUR AT PANTALOONS
CUSTOMER BUYING BEHAVIOUR AT PANTALOONSCUSTOMER BUYING BEHAVIOUR AT PANTALOONS
CUSTOMER BUYING BEHAVIOUR AT PANTALOONS
 
A study on customer satisfaction and customer service at pantaloons
A study on customer satisfaction and customer service at pantaloonsA study on customer satisfaction and customer service at pantaloons
A study on customer satisfaction and customer service at pantaloons
 
Sip presentation at pantaloons , bbsr
Sip presentation at pantaloons , bbsrSip presentation at pantaloons , bbsr
Sip presentation at pantaloons , bbsr
 
Retailing in india
Retailing in indiaRetailing in india
Retailing in india
 
Report on big bazaar
Report on big bazaarReport on big bazaar
Report on big bazaar
 
A research project report on comparative study of vishal megamart and its com...
A research project report on comparative study of vishal megamart and its com...A research project report on comparative study of vishal megamart and its com...
A research project report on comparative study of vishal megamart and its com...
 

Similar to Starting a retail business in India

Service Marketing Management
Service Marketing ManagementService Marketing Management
Service Marketing Management
4rahuljain
 
Sip report sagar ranjan_das_ espnd1_bb_bbs
Sip report sagar ranjan_das_ espnd1_bb_bbsSip report sagar ranjan_das_ espnd1_bb_bbs
Sip report sagar ranjan_das_ espnd1_bb_bbs
Sagar Das
 
Brandness of airtel.docx hhhhir helps the
Brandness of airtel.docx hhhhir helps theBrandness of airtel.docx hhhhir helps the
Brandness of airtel.docx hhhhir helps the
humamkhan07860
 
airtel.docx for shsjksnsmskdkdkddkdkdkkd
airtel.docx for shsjksnsmskdkdkddkdkdkkdairtel.docx for shsjksnsmskdkdkddkdkdkkd
airtel.docx for shsjksnsmskdkdkddkdkdkkd
humamkhan07860
 
Mitesh's Project Study.docx
Mitesh's Project Study.docxMitesh's Project Study.docx
Mitesh's Project Study.docx
MiteshSinghSuryavans
 
Retailing management unit-1 - IMBA- Osmania University
Retailing management unit-1 - IMBA- Osmania UniversityRetailing management unit-1 - IMBA- Osmania University
Retailing management unit-1 - IMBA- Osmania University
Balasri Kamarapu
 
Bbr603 merchandising and supply chain management
Bbr603 merchandising and supply chain managementBbr603 merchandising and supply chain management
Bbr603 merchandising and supply chain management
smumbahelp
 
Visual Merchandising w.r.t. Pantaloons Retail India Ltd
Visual Merchandising w.r.t. Pantaloons Retail India LtdVisual Merchandising w.r.t. Pantaloons Retail India Ltd
Visual Merchandising w.r.t. Pantaloons Retail India Ltd
Shrestha Dey
 
Theory shoppers stop
Theory shoppers stopTheory shoppers stop
Theory shoppers stop
Himanshu Detroja
 
Finaldoc
FinaldocFinaldoc
Finaldoc
Krishnamurthy A
 
Next
NextNext
Project at-big-bazaar kapil
Project at-big-bazaar kapilProject at-big-bazaar kapil
Project at-big-bazaar kapil
kapil06
 
Big bazaar customer relationship management
Big bazaar customer relationship managementBig bazaar customer relationship management
Big bazaar customer relationship management
Aman Bansal
 
Retail Strategy Internship Project
Retail Strategy Internship ProjectRetail Strategy Internship Project
Retail Strategy Internship Project
Sunayana8
 
Brandbook 5th-edition-presenation
Brandbook 5th-edition-presenationBrandbook 5th-edition-presenation
Brandbook 5th-edition-presenation
My Brandbook
 
32203854 project-report-on-big-bazaar-120323091110-phpapp01
32203854 project-report-on-big-bazaar-120323091110-phpapp0132203854 project-report-on-big-bazaar-120323091110-phpapp01
32203854 project-report-on-big-bazaar-120323091110-phpapp01
MT EDUCARE PVT. LTD.
 
Retail sector in india (national handloom)
Retail sector in india (national handloom)Retail sector in india (national handloom)
Retail sector in india (national handloom)
Yash Agarwal
 
A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR)
 A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR) A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR)
A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR)
malaya_123
 
International management of future group
International management of future groupInternational management of future group
International management of future group
hiteshkrohra
 
Oep
OepOep

Similar to Starting a retail business in India (20)

Service Marketing Management
Service Marketing ManagementService Marketing Management
Service Marketing Management
 
Sip report sagar ranjan_das_ espnd1_bb_bbs
Sip report sagar ranjan_das_ espnd1_bb_bbsSip report sagar ranjan_das_ espnd1_bb_bbs
Sip report sagar ranjan_das_ espnd1_bb_bbs
 
Brandness of airtel.docx hhhhir helps the
Brandness of airtel.docx hhhhir helps theBrandness of airtel.docx hhhhir helps the
Brandness of airtel.docx hhhhir helps the
 
airtel.docx for shsjksnsmskdkdkddkdkdkkd
airtel.docx for shsjksnsmskdkdkddkdkdkkdairtel.docx for shsjksnsmskdkdkddkdkdkkd
airtel.docx for shsjksnsmskdkdkddkdkdkkd
 
Mitesh's Project Study.docx
Mitesh's Project Study.docxMitesh's Project Study.docx
Mitesh's Project Study.docx
 
Retailing management unit-1 - IMBA- Osmania University
Retailing management unit-1 - IMBA- Osmania UniversityRetailing management unit-1 - IMBA- Osmania University
Retailing management unit-1 - IMBA- Osmania University
 
Bbr603 merchandising and supply chain management
Bbr603 merchandising and supply chain managementBbr603 merchandising and supply chain management
Bbr603 merchandising and supply chain management
 
Visual Merchandising w.r.t. Pantaloons Retail India Ltd
Visual Merchandising w.r.t. Pantaloons Retail India LtdVisual Merchandising w.r.t. Pantaloons Retail India Ltd
Visual Merchandising w.r.t. Pantaloons Retail India Ltd
 
Theory shoppers stop
Theory shoppers stopTheory shoppers stop
Theory shoppers stop
 
Finaldoc
FinaldocFinaldoc
Finaldoc
 
Next
NextNext
Next
 
Project at-big-bazaar kapil
Project at-big-bazaar kapilProject at-big-bazaar kapil
Project at-big-bazaar kapil
 
Big bazaar customer relationship management
Big bazaar customer relationship managementBig bazaar customer relationship management
Big bazaar customer relationship management
 
Retail Strategy Internship Project
Retail Strategy Internship ProjectRetail Strategy Internship Project
Retail Strategy Internship Project
 
Brandbook 5th-edition-presenation
Brandbook 5th-edition-presenationBrandbook 5th-edition-presenation
Brandbook 5th-edition-presenation
 
32203854 project-report-on-big-bazaar-120323091110-phpapp01
32203854 project-report-on-big-bazaar-120323091110-phpapp0132203854 project-report-on-big-bazaar-120323091110-phpapp01
32203854 project-report-on-big-bazaar-120323091110-phpapp01
 
Retail sector in india (national handloom)
Retail sector in india (national handloom)Retail sector in india (national handloom)
Retail sector in india (national handloom)
 
A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR)
 A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR) A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR)
A STUDY ON CUSTOMER SATISFACTION AT BIG BAZAAR (PATIA, BBSR)
 
International management of future group
International management of future groupInternational management of future group
International management of future group
 
Oep
OepOep
Oep
 

More from Adarsh NJ

Course report on becoming a product manager
Course report on becoming a product managerCourse report on becoming a product manager
Course report on becoming a product manager
Adarsh NJ
 
Selection of apartment using analytical hierarchy planning
Selection of apartment using analytical hierarchy planningSelection of apartment using analytical hierarchy planning
Selection of apartment using analytical hierarchy planning
Adarsh NJ
 
Case analysis of Recruitment fiasco at CITPR
Case analysis of Recruitment fiasco at CITPRCase analysis of Recruitment fiasco at CITPR
Case analysis of Recruitment fiasco at CITPR
Adarsh NJ
 
Summary on the Case of Walmart lobbying in India
Summary on the Case of Walmart lobbying in IndiaSummary on the Case of Walmart lobbying in India
Summary on the Case of Walmart lobbying in India
Adarsh NJ
 
Future of Work in Retail Sector in India
Future of Work in Retail Sector in IndiaFuture of Work in Retail Sector in India
Future of Work in Retail Sector in India
Adarsh NJ
 
Digital Marketing of Toyota in India
Digital Marketing of Toyota in IndiaDigital Marketing of Toyota in India
Digital Marketing of Toyota in India
Adarsh NJ
 
Country Risk analysis of South Africa
Country Risk analysis of South AfricaCountry Risk analysis of South Africa
Country Risk analysis of South Africa
Adarsh NJ
 
VRL Logistics Financial assessment
VRL Logistics Financial assessmentVRL Logistics Financial assessment
VRL Logistics Financial assessment
Adarsh NJ
 
Starting a Business in the retail sector
Starting a Business in the retail sectorStarting a Business in the retail sector
Starting a Business in the retail sector
Adarsh NJ
 
Analysis on the working of ITI Ltd
Analysis on the working of ITI LtdAnalysis on the working of ITI Ltd
Analysis on the working of ITI Ltd
Adarsh NJ
 
Analysis on Zomato
Analysis on ZomatoAnalysis on Zomato
Analysis on Zomato
Adarsh NJ
 
Authentic leadership
Authentic leadershipAuthentic leadership
Authentic leadership
Adarsh NJ
 
Digital marketing on a fictional car company
Digital marketing on a fictional car companyDigital marketing on a fictional car company
Digital marketing on a fictional car company
Adarsh NJ
 
Plastics :
Plastics :Plastics :
Plastics :
Adarsh NJ
 
Atoms and molecules
Atoms and moleculesAtoms and molecules
Atoms and molecules
Adarsh NJ
 
Marie Curie
Marie CurieMarie Curie
Marie Curie
Adarsh NJ
 
Story of cricket
Story of cricketStory of cricket
Story of cricket
Adarsh NJ
 
Amelia Earhart
Amelia EarhartAmelia Earhart
Amelia Earhart
Adarsh NJ
 
Resources and Development
Resources and DevelopmentResources and Development
Resources and Development
Adarsh NJ
 
Plastics
PlasticsPlastics
Plastics
Adarsh NJ
 

More from Adarsh NJ (20)

Course report on becoming a product manager
Course report on becoming a product managerCourse report on becoming a product manager
Course report on becoming a product manager
 
Selection of apartment using analytical hierarchy planning
Selection of apartment using analytical hierarchy planningSelection of apartment using analytical hierarchy planning
Selection of apartment using analytical hierarchy planning
 
Case analysis of Recruitment fiasco at CITPR
Case analysis of Recruitment fiasco at CITPRCase analysis of Recruitment fiasco at CITPR
Case analysis of Recruitment fiasco at CITPR
 
Summary on the Case of Walmart lobbying in India
Summary on the Case of Walmart lobbying in IndiaSummary on the Case of Walmart lobbying in India
Summary on the Case of Walmart lobbying in India
 
Future of Work in Retail Sector in India
Future of Work in Retail Sector in IndiaFuture of Work in Retail Sector in India
Future of Work in Retail Sector in India
 
Digital Marketing of Toyota in India
Digital Marketing of Toyota in IndiaDigital Marketing of Toyota in India
Digital Marketing of Toyota in India
 
Country Risk analysis of South Africa
Country Risk analysis of South AfricaCountry Risk analysis of South Africa
Country Risk analysis of South Africa
 
VRL Logistics Financial assessment
VRL Logistics Financial assessmentVRL Logistics Financial assessment
VRL Logistics Financial assessment
 
Starting a Business in the retail sector
Starting a Business in the retail sectorStarting a Business in the retail sector
Starting a Business in the retail sector
 
Analysis on the working of ITI Ltd
Analysis on the working of ITI LtdAnalysis on the working of ITI Ltd
Analysis on the working of ITI Ltd
 
Analysis on Zomato
Analysis on ZomatoAnalysis on Zomato
Analysis on Zomato
 
Authentic leadership
Authentic leadershipAuthentic leadership
Authentic leadership
 
Digital marketing on a fictional car company
Digital marketing on a fictional car companyDigital marketing on a fictional car company
Digital marketing on a fictional car company
 
Plastics :
Plastics :Plastics :
Plastics :
 
Atoms and molecules
Atoms and moleculesAtoms and molecules
Atoms and molecules
 
Marie Curie
Marie CurieMarie Curie
Marie Curie
 
Story of cricket
Story of cricketStory of cricket
Story of cricket
 
Amelia Earhart
Amelia EarhartAmelia Earhart
Amelia Earhart
 
Resources and Development
Resources and DevelopmentResources and Development
Resources and Development
 
Plastics
PlasticsPlastics
Plastics
 

Recently uploaded

A STUDY OF MUTUAL FUND OF BANK OF INDIA .pdf
A STUDY OF MUTUAL FUND  OF BANK OF INDIA .pdfA STUDY OF MUTUAL FUND  OF BANK OF INDIA .pdf
A STUDY OF MUTUAL FUND OF BANK OF INDIA .pdf
rsonics22
 
Case study on Indian Ecommerce logistics
Case study on Indian Ecommerce logisticsCase study on Indian Ecommerce logistics
Case study on Indian Ecommerce logistics
UnheardShayari
 
Pricing sophistication - auto insurance telematics
Pricing sophistication - auto insurance telematicsPricing sophistication - auto insurance telematics
Pricing sophistication - auto insurance telematics
Matteo Carbone
 
Cracking the Customer Experience Code.pptx
Cracking the Customer Experience Code.pptxCracking the Customer Experience Code.pptx
Cracking the Customer Experience Code.pptx
Workforce Group
 
A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024
Dubiz
 
THE IMPORTANCE OF CODING IN DEVOPS EXPLANATION
THE IMPORTANCE OF CODING IN DEVOPS EXPLANATIONTHE IMPORTANCE OF CODING IN DEVOPS EXPLANATION
THE IMPORTANCE OF CODING IN DEVOPS EXPLANATION
hrajkumar444
 
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Aggregage
 
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAAPETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
lawrenceads01
 
Navigating Change Strategies for Effective Transition and Operational Plannin...
Navigating Change Strategies for Effective Transition and Operational Plannin...Navigating Change Strategies for Effective Transition and Operational Plannin...
Navigating Change Strategies for Effective Transition and Operational Plannin...
Brian Frerichs
 
Importance of Quality Transformations in VUCA World
Importance of Quality Transformations in VUCA WorldImportance of Quality Transformations in VUCA World
Importance of Quality Transformations in VUCA World
Ankur860831
 
Connected Small Boat Protection Solution | July 2024
Connected Small Boat Protection Solution | July  2024Connected Small Boat Protection Solution | July  2024
Connected Small Boat Protection Solution | July 2024
Hector Del Castillo, CPM, CPMM
 
Corporate Governance for South African Mining Companies
Corporate Governance for South African Mining CompaniesCorporate Governance for South African Mining Companies
Corporate Governance for South African Mining Companies
James AH Campbell
 
Top Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdfTop Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdf
Top IT Marketing
 
brojjeddah Home Services Company in Saudi Arabia
brojjeddah Home Services Company in Saudi Arabiabrojjeddah Home Services Company in Saudi Arabia
brojjeddah Home Services Company in Saudi Arabia
brojjeddah
 
شركات إبراهيم العرجاني: لدعم الاقتصاد المصري
شركات إبراهيم العرجاني: لدعم الاقتصاد المصريشركات إبراهيم العرجاني: لدعم الاقتصاد المصري
شركات إبراهيم العرجاني: لدعم الاقتصاد المصري
إبراهيم العرجاني
 
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual TrainingpptxYou Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
Cynthia Clay
 
Satta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatkaSatta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatka
➑➌➋➑➒➎➑➑➊➍
 
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in CityGirls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
maigasapphire
 
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
Newman George Leech
 
Staffan Canback - The 18 Rays of Project Management
Staffan Canback - The 18 Rays of Project ManagementStaffan Canback - The 18 Rays of Project Management
Staffan Canback - The 18 Rays of Project Management
Tellusant, Inc.
 

Recently uploaded (20)

A STUDY OF MUTUAL FUND OF BANK OF INDIA .pdf
A STUDY OF MUTUAL FUND  OF BANK OF INDIA .pdfA STUDY OF MUTUAL FUND  OF BANK OF INDIA .pdf
A STUDY OF MUTUAL FUND OF BANK OF INDIA .pdf
 
Case study on Indian Ecommerce logistics
Case study on Indian Ecommerce logisticsCase study on Indian Ecommerce logistics
Case study on Indian Ecommerce logistics
 
Pricing sophistication - auto insurance telematics
Pricing sophistication - auto insurance telematicsPricing sophistication - auto insurance telematics
Pricing sophistication - auto insurance telematics
 
Cracking the Customer Experience Code.pptx
Cracking the Customer Experience Code.pptxCracking the Customer Experience Code.pptx
Cracking the Customer Experience Code.pptx
 
A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024
 
THE IMPORTANCE OF CODING IN DEVOPS EXPLANATION
THE IMPORTANCE OF CODING IN DEVOPS EXPLANATIONTHE IMPORTANCE OF CODING IN DEVOPS EXPLANATION
THE IMPORTANCE OF CODING IN DEVOPS EXPLANATION
 
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
 
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAAPETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
PETAVIT SIP-05.pdfAAAAAAAAAAAAAAAAAAAAAAAAA
 
Navigating Change Strategies for Effective Transition and Operational Plannin...
Navigating Change Strategies for Effective Transition and Operational Plannin...Navigating Change Strategies for Effective Transition and Operational Plannin...
Navigating Change Strategies for Effective Transition and Operational Plannin...
 
Importance of Quality Transformations in VUCA World
Importance of Quality Transformations in VUCA WorldImportance of Quality Transformations in VUCA World
Importance of Quality Transformations in VUCA World
 
Connected Small Boat Protection Solution | July 2024
Connected Small Boat Protection Solution | July  2024Connected Small Boat Protection Solution | July  2024
Connected Small Boat Protection Solution | July 2024
 
Corporate Governance for South African Mining Companies
Corporate Governance for South African Mining CompaniesCorporate Governance for South African Mining Companies
Corporate Governance for South African Mining Companies
 
Top Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdfTop Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdf
 
brojjeddah Home Services Company in Saudi Arabia
brojjeddah Home Services Company in Saudi Arabiabrojjeddah Home Services Company in Saudi Arabia
brojjeddah Home Services Company in Saudi Arabia
 
شركات إبراهيم العرجاني: لدعم الاقتصاد المصري
شركات إبراهيم العرجاني: لدعم الاقتصاد المصريشركات إبراهيم العرجاني: لدعم الاقتصاد المصري
شركات إبراهيم العرجاني: لدعم الاقتصاد المصري
 
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual TrainingpptxYou Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
 
Satta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatkaSatta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatka
 
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in CityGirls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
 
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
 
Staffan Canback - The 18 Rays of Project Management
Staffan Canback - The 18 Rays of Project ManagementStaffan Canback - The 18 Rays of Project Management
Staffan Canback - The 18 Rays of Project Management
 

Starting a retail business in India

  • 1. i SERVICE MARKETING PROJECT RETAIL SECTOR WAVELENGTH STORES DONE BY GROUP 7: ADARSH NJ – 19DM015 ALTAMASH HASAN – 19DM027 ARCHIKA SINGH – 19DM047 GURPREET SINGH SETHI – 19DM075 MANIKANDAN BALAJI – 19DM101 NIDHI AGARWAL – 19DM123
  • 2. ii TABLE OF CONTENTS S.NO TITLE PAGE NO 1 INTRODUCTION 1 2 MARKET SIZE 1 3 INVESTMENT SCENARIO 1 4 GOVERNMENT INITIATIVES 2 5 ROAD AHEAD 2 6 DATA COLLECTED FROM – INDIABRAND EQUITY FOUNDATION 3 7 COMPANY DESCRIPTION 3 8 MARKETING STRATEGY 4 9 7 Ps OF SERVICE MARKETING 6 10 SERVICE STRATEGY 7 11 SERVICE DESIGN/BLUEPRINTING 8 12 FINANCIAL ANALYSIS 10 13 OUR VISIT TO RETAIL OUTLETS 11 14 CUSTOMER SURVEY QUESTIONNAIRE 12
  • 3. 1 INTRODUCTION The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. Total consumption expenditure is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space. India is the world’s fifth largest global destination in the retail space. In FDI Confidence Index, India ranks 16th (after U.S., Canada, Germany, United Kingdom, China, Japan, France, Australia, Switzerland and Italy). MARKET SIZE Retail industry reached to US$ 950 billion in 2018 at CAGR of 13 per cent and expected to reach US$ 1.1 trillion by 2020. Online retail sales are forecasted to grow at the rate of 31 per cent year-on-year to reach US$ 32.70 billion in 2018. Revenue generated from online retail is projected to grow to US$ 60 billion by 2020. Revenue of India’s offline retailers, also known as brick and mortar (B&M) retailers, is expected to increase by Rs 10,000-12,000 crore (US$ 1.39-2.77 billion) in FY20. India is expected to become the world’s fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users. Various agencies have high expectations about growth of Indian e-commerce markets. Luxury market of India is expected to grow to US$ 30 billion by the end of 2018 from US$ 23.8 billion 2017 supported by growing exposure of international brands amongst Indian youth and higher purchasing power of the upper class in tier 2 and 3 cities, according to Assocham. INVESTMENT SCENARIO The Indian retail trading has received Foreign Direct Investment (FDI) equity inflows totalling US$ 1.85 billion during April 2000–June 2019, according to the Department for Promotion of Industry and Internal Trade (DPIIT).
  • 4. 2 With the rising need for consumer goods in different sectors including consumer electronics and home appliances, many companies have invested in the Indian retail space in the past few months. India’s retail sector investments doubled to reach Rs 1,300 crore (US$ 180.18 million) in 2018. Walmart Investments Cooperative U.A has invested Rs 2.75 billion (US$ 37.68 million) in Wal- Mart India Pvt Ltd. GOVERNMENT INITIATIVES The Government of India has taken various initiatives to improve the retail industry in India. Some of them are listed below:  The Government of India may change the Foreign Direct Investment (FDI) rules in food processing, in a bid to permit e-commerce companies and foreign retailers to sell Made in India consumer products.  Government of India has allowed 100 per cent Foreign Direct Investment (FDI) in online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India. ROAD AHEAD E-commerce is expanding steadily in the country. Customers have the ever-increasing choice of products at the lowest rates. E-commerce is probably creating the biggest revolution in the retail industry, and this trend would continue in the years to come. India's e-commerce industry is forecasted to reach US$ 53 billion by 2018. Retailers should leverage the digital retail channels (e-commerce), which would enable them to spend less money on real estate while reaching out to more customers in tier-2 and tier-3 cities. The Union Budget 2019-20 is expected to give boost to the rural consumption in India.
  • 5. 3 It is projected that by 2021 traditional retail will hold a major share of 75 per cent, organised retail share will reach 18 per cent and e-commerce retail share will reach 7 per cent of the total retail market. Nevertheless, the long-term outlook for the industry is positive, supported by rising incomes, favourable demographics, entry of foreign players, and increasing urbanisation. DATA COLLECTED FROM- INDIA BRAND EQUITY FOUNDATION COMPANY DESCRIPTION Music preference is something that varies from person to person. Everyone wants something that is unique to their ears and the retail chains of today fail to provide customers with this service where they can truly arrive at their perfect choice of headphones. So, with this focus in mind, we have decided to start our own Headphone exclusive outlet “Wavelength”. The aim of this retail outlet is to provide a service that major outlets fail to provide which is arriving at the perfect headphones for a person after intensive testing.
  • 6. 4  Vision – “Become a market leader in headphone exclusive stores”  Mission – “Have every individual carry a headphone in his pocket that he can truly call his own”  Motto- Our motto is to be the pioneer for headphone and speakers exclusive outlets. MARKETING STRATEGY SEGMENTATION: Market segmentation is a marketing term that refers to aggregating prospective buyers into groups or segments with common needs and who responds similarly to a marketing action. Market segmentation enables companies to target different categories of consumers who perceive the full value of certain products and services differently from one another. We are segmenting the customers according to: Demographic: Based on age profile  Teenagers  College Students  Young professionals  Old and Retired Individuals Geographic: Based on Geographical location  Urban  Semi urban Psychographic: Based on Lifestyle  Explorer  Fun loving
  • 7. 5 Behavioral: Based on User status  Potential User  First time buyer  Regular Customer TARGETING: Targeting in marketing is a strategy that breaks a large market into smaller segments to concentrate on a specific group of customers within that audience. It defines a segment of customers based on their unique characteristics and focuses solely on serving them. We are targeting our customers according to: Age group- The age group that we are targeting is 16- 40 years including teenagers, college students and young professionals. Explorers: People who are ready to try new products in the market and like to try new technology as soon as it launches. People residing in urban areas will be our target customers. Tier 1 and Tier 2 cities. POSITIONING: We want to position our brand as “the one stop solution for the audiophile in you”. We want to be the best retailers for the speakers and headphones for our target customers.
  • 8. 6 7 Ps OF SERVICE MARKETING: 1. Product: The product is an integral part of the service mix. We will follow a multi- product strategy, i.e., offering many varieties of headphones by maintaining the best quality. 2. Price: The pricing of the goods is such that it would be at par with the competitors but also some discounts would be offered to the customers to attract them. Vouchers would be given to referrals and this would help in customer retention too. 3. Place: The modes of distribution will be through direct sales from stores and online ordering through store’s official website. 4. Promotion: Various mediums to be targeted for promotions will be paid advertisements, TV ads, Word of the mouth, Social media promotions, sales promotions, events and experiences. 5. People: Having skilled, knowledgeable and well-groomed employees would help in maintaining customer relations effectively and efficiently. The employees would be having a wide understanding of all the different headphones in store and can differentiate between one another with their feel while using rather than just the specifications. A specific code of conduct and standards will be followed for good and consistent hospitality which involves a friendly environment. 6. Process: The process of the store is to be keep it simple and easy. There will be dedicated channels to contact the customer support where the customers will be assisted. There will be a defined process for returning products and for managing store. 7. Physical evidence: The physical evidence is the presence of the store. The store would be organized with adequate labels, direction boards, pricing labels, and display areas. The customer can have a look around and see the service offered by the store. A pleasing and well-designed environment will be maintained to create a sense of ambience. Also, the most unique physical aspect of our stores is that customers can touch, feel and use any kind of headphones they wish before deciding to purchase.
  • 9. 7 SERVICE STRATEGY The sole aim of a service strategy is to provide the best customer satisfaction there is. And in order to provide the best customer satisfaction for the retail sector, the employees of the outlets, who are the main point of contact for the customers should be trained effectively. Based on our research on the topic it was found that, there exists a positive relationship between internal marketing and job satisfaction/motivation for the employees. Hence, for our new business, i.e. Wavelength, a retail outlet exclusively for mid-level to premium headsets and speakers, we have decided to focus mostly on the improvement of employee satisfaction and motivation to begin with, which will ultimately pave way to provide the best customer satisfaction. Other than that, some other service strategies that Wavelength will be following are:  Attract customers with in-store experience  Enhancing the assortment planning using AI  Specially trained employees coach the customers through their decision journey  Give the customers a greater connection to the products  Simplify shopping experience at every stage
  • 11. 9
  • 12. 10 FINANCIAL ANALYSIS Profit & Loss report for the coming 3 years  2020 2021 2022 12 months 12 months 12 months (In Lakhs) (In Lakhs) (In Lakhs) I NCOME Revenue from Operations [Gross] 30 45 55 Revenue from Operations [Net] 30 45 55 Other I ncome 0 2 2.5 Total Revenue 30 47 57.5 EXPENSES Operating and Direct Expenses 10 14 20 Employee Benefit Expenses 8 10 13 Finance Costs 12 6 5 Depreciation and Amortization Expenses 1 1 1.5 M iscellaneous Expenses Written Off 5 6 3.5 Other Expenses 6 6 Total Expenses 36 43 49 Profit/ Loss Before Exceptional, Extra Ordinary I tems and Tax -6 4 8.5
  • 13. 11 OUR VISIT TO RETAIL OUTLETS Transcript Altamash: Good evening Sir, we are coming from BIMTECH college, can we ask you a few questions for our project? Manager: Yes, sure you can ask Gurpreet: Sir we would like to ask you about the Headphones and headphone related services you offer Manager: Yes, though headphones is not our primary product, we do offer a few varieties of them. What do you want to know? Altamash: What kind of headphones do you offer sir? Manager: We have all kinds of products from local to branded. Prices vary from 250 to 300 for wired and go up to 6000 for Bluetooth types. Manikandan: Do you allow customers to test all the headphones before buying? Manager: We allow testing for all the brands except Sony. Manikandan: Why not Sony? Manager: Because Sony does not allow us to break the seal before a purchase and gives us demo units for the testing purpose. Gurpreet: Sir do you allow the testing of Bluetooth speakers as well? Manager: Yes, we do, once again for all brands except Sony. Altamash: What is your strategy to turn a customer to purchase a product? Manager: Our salesperson gives them a wide variety of options in their price range and they can choose the one which is perfect for them.
  • 14. 12 Gurpreet: Sir so how do you guys manage to compete with larger shops like Reliance Digital and Chroma? Manager: We allow testing for all headphones in our shop where these shops don’t allow that as they don’t like to break the company seals in their products. Altamash: What kind of after sales services do you provide sir? Manager: We don’t do any repair work ourselves if the customer has some problem with the product, but we replace the entire product and give them a new one. The distributer takes the faulty product back from us. Gurpreet: OK sir, thank you for your valuable time. CUSTOMER SURVEY QUESTIONNAIRE RESPONSES Questionnaire about understanding the Target Customers Name * Kanchan Agarwal Age * 29 Gender * Male Female Birth Place * Dhanbad City you are currently residing * Gurgaon Highest Qualification (For eg: MBA, M.Com, LLB, BBA) * Chartered Accountant
  • 15. 13 Profession (for eg: Manager, Executive, Doctor, Lawyer) * Manager Annual Income * Below 5lacs 5-10 lacs 10-15 lacs 15-20 lacs above 20 lacs Do you use earphones/headphones? * Yes No When was the last time you bought earphones/headphone? * within last 30 days 1 to 3 months 3 to 5 months more than 5 months Channel of purchase * Online Offline (retail store) Why did you choose this channel? Please elaborate * Better discounts Which brand did you purchase? * JBL What was the cost of your headphone/earphone? * Rs 100-500 Rs 500-1000 Rs 1000-1500 Rs 1500-2000 Rs 2000-2500 Above Rs 2500 Are you planning to purchase this item again within next 2 or 3 months? * Yes No Channel from which you are most likely to make this purchase? *
  • 16. 14 Online Offline Can't say Please elaborate why would you choose this channel? * Better offers and discounts Questionnaire about understanding the needs of Target Customers Name * Neha Age * 23 Gender * Male Female Profession (for eg: Manager, Executive, Doctor, Lawyer) * Doctor Annual Income * Below 5lacs 5-10 lacs 10-15 lacs 15-20 lacs above 20 lacs Why did you visit this store? * Better options Would you like to visit an exclusive earphone/headphone store for making your purchase? Yes No what do you look for when You buy earphones/headphones? Quality, brand Rate the below mentioned as per your priority
  • 17. 15 Price Service Brand Quality Availability of products How could retail stores improve the way headphones/earphones are presented? Better display of product Rate the existing stores on the following criteria: Presentation of Earphones Very Good 1 2 3 4 5 Very Poor Ambiance of the store very Good 1 2 3 4 5 Very Poor Billing Experience very Good 1 2 3 4 5 Very Poor Aisle salesperson behaviour very Good 1
  • 18. 16 2 3 4 5 Very Poor Availability of the brands very Good 1 2 3 4 5 Very Poor Pricing very Good 1 2 3 4 5 Very Poor Offers and discounts very Good 1 2 3 4 5 Very Poor Product trial very Good 1 2 3 4 5 Very Poor
  • 19. 17 What would have made your service experience better? More variety