strengthening look and feel of indian wear section & resolving key barriers t...
Family-owned stores in old shopping area
1. Business culture:
This is the main shopping place. Here all stores are as old as
hundred years old. All stores are of the same size crowded
with merchandise and the interior decoration are same. The
arrangements of merchandise are functional and according
to prices.
Here every business is family owned. It is handed down from
one generation to another generation. New generation has to
adapt to new situation, formulate new strategy and face
challenges of their time. They all have a loyal customer
following which shop there generation after generation!
2. Attitude:
The family business creates the atmosphere of comfort
and bonding between the owners and customers . Here
customers will regard the owner of the store as a fair person
and I would say the store keeper has no incentive to change
the way he does business.
3. This store is of electronic appliances. You can see N is missing in the sign board. But the owner of this store is not
bothered about it.
The door of this store is open. He has very thoughtfully made way for customers to walk. You can not walk straight
instead forced to turn right and make you to walk around the whole store and that way you can see all the products he
sells. When you want to buy a blender in future then you will remembered that this store has blenders of different
brands. It is a good strategy.
Another interesting thing I found is he puts the signboards like why to eat healthy and fresh foods on every refrigerator.
Here “FRESH” is the catch word . Indirectly it suggest that their refrigerators keep the food and fruits fresh. Items that
do not sell much like the bread maker, rice maker, and vacuum cleaner are placed in the corner.
One thing I don’t like in this store is that this store has posters and boards all around the shop. Decor was ok.
Atmosphere was noisy but he is very successful. He has a booming business. I think his three strategies work very well.
1: He puts the price tag right in front of the eyes.
2 : The store layout forces you to walk all around the store, whereby you end up noticing everything the store has to
offer. This encourages impulse buying. And well placed signboards on the refrigerator
3 : They give product demonstration, arrange cooking classes using their microwave ovens and most importantly, they
provide good service.
4. A spectacle store:
The owner has two stores. One is the main shopping area and another one is
in the posh area in the city. His strategy is that the all shop will keep his all
customers as well as middle class customers. Here the prices of specs
affordable. Here people can bargain the prices.
And the new shops in the posh area cultivated exclusively rich customers.
Here he sales branded specs. The price ranges is from 5000rs. To
100000rs. Here bargaining is not allowed.
5. Cosmetic Store
Attitude:
All of this businessmen have common attitude. They are customer friendly. They allowed the customer
to bargain. But at the end the owner wins by reducing negligible amount. That way it is win win
situation on both sides. The atmosphere of these shops are homely.
Attitude of customers:
If in the cloths and cosmetics stores the customers are mainly females in group. The shop catering to
expensive items are visited in pairs. Customers have the habit of bargaining and compare the
prices.
Once they step in stores they are an easy bait for the sales man .Their body language give them away.
Here the homely atmosphere , polite sales man allow customers to touch the goods even encourage
them to touch the materials , and helping nature draw the customers. So the owner of the stores
does not invest much money on decoration.
Insight
According to me over ambitious businessman do not always do well. Take business in your stride and
reap the fruits of hard labor and not forgetting the sharing 10 % to 20% of your earning with the
underprivileged.