MARKETING STRATERGY

BIG BAZAAR THE INDIAN ORGANISED GIANT

SHWETA GURAV ROLL NO 16

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Shri Vile Parle Kelvani Mandals

Mithibai College of Arts,, Chauhan Institute of Science & Amrutben Jivanlal college of Commerce and Economics Vile Parle (West) Mumbai 400056

A PROJECT ON

BIG BAZAAR THE INDIAN ORGANISED GIANT

IN THE SUBJECT

MARKETING STRATEGIES AND PLANS

SUBMITTED BY NAME: SHWETA GURAV ROLL NO.: 16 DIVISION: -----UNDER THE GUIDANCE OF PROF. BHARAT PITHADIA TO

UNIVERSITY OF MUMBAI
FOR

MASTER OF COMMERCE PROGRAMME (SEMESTER I- YEAR: 201213)

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Shri Vile Parle Kelvani Mandals

Mithibai College of Arts,, Chauhan Institute of Science & Amrutben Jivanlal college of Commerce and Economics Vile Parle (West) Mumbai 400056

EVALUATION CERTIFICATE
This is to certify that the undersigned have assessed and evaluated the project on BIG BAZAAR- THE INDIAN ORGANISED GIANT submitted by SHWETA GURAV, student of M.Com. Part - I (Semester I) for the academic year 2012-13. This project is original to the best of our knowledge and has been accepted for Internal Assessment.

Name & Signature of Internal Examiner

Name & Signature of External Examiner

PRINCIPAL

College Seal

DR. KIRAN MANGAONKAR

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Shri Vile Parle Kelvani Mandals

Mithibai College of Arts, Chauhan Institute of Science & Amrutben Jivanlal college of Commerce and Economics Vile Parle (West) Mumbai 400056

DECLARATION BY THE STUDENT

I, SHWETA GURAV, student of M.Com. (Part I) Roll No.: 16 hereby

declare that the project titled -BIG BAZAAR THE INDIAN ORGANISED GIANT for the subject-MARKETING STRATEGIES AND PLANS submitted by me for Semester I of the academic year 2012-13, is based on actual work carried out by me under the guidance and supervision of
PROF. BHARAT PITHADIA. I further state that this work is original and not

submitted anywhere else for any examination.

Place: Date:

Name & Signature of Student

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ACKNOWLEDGEMENT
First and foremost I seek the blessings of my beloved TEACHERS who keep lot of expectations on me and showering their infinite love for ever. I would like to thank University of Mumbai for giving me this opportunity of taking such a challenging project, which has enhanced my knowledge about Big Bazaar. I am grateful to the wholehearted support and contribution from a number of individuals leading towards success. I show my gratitude to the Principal, Vice Principal and Coordinator of Mithibai College who gave me a lot of moral support and under their guidance I was successfully able to complete my project. And with deep sense of gratitude I would like to thank Prof. Bharat Pithadia for his immense help and co-operation. Lastly, I want to thank all those staff members who helped us indirectly in successful completion of the project and giving their valuable time and knowledge to us.

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INDEX
Sr. no.
1. 2. 3. 4. INTRODUCTION ORIGIN AND HISTORY OPERATIONS STRATEGY

Chapter Name

Page No.
7 8 10 11

5.

BOON TO INDIA

12

6. 7. 8. 9. 10.
11. 12. 13.

FOOD BAZAAR PUBLIC HOLIDAY SALE AT BIG BAZAAR BIG BAZAAR COUPONS BIG BAZAAR PROMOTIONAL OFFERS PERSONAL OBSERVATIONS 4Ps OF MARKETING OF BIG BAZAAR PROFITABILITY RECOMMENDATIONS FOR THE MARKETING MIX STRATEGY OF A NEW VENTURE OF BIG BAZAAR

13 15 16 18 22
24 29 30

14. 15.

SUMMARY REFERENCE

32 33

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INTRODUCTION
Indian retail sector is witnessing one of the most hectic marketing activities of all times. The companies are fighting for mind share and heart share which can finally be convert ed to market share. There is alwa y s a first mover advant age in an upcoming sector. In India, that advantage goes to Big Bazaar. It has brought about many changes in the buying habits of people. Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of Indias leading business houses. Big Bazaar is not just another hypermarket. It caters to every need of your family. It has created formats which provide all items under one roof at low rates, or so it claims. In this project, we will study its marketing strategies and customer response. Big Bazaars main competitors are other business houses which are planning to enter the market as well as long established Kirana stores which feel threatened by huge retail chains. So we will study the customer p r e f e r e n c e s a s w e l l a s t h e i r b u y i n g p a t t e r n s . T h e c o n c l u s i o n w o u l d i n c l u d e recommendations of best marketing practices which should be followed by new entrants in the Indian retail sector. OBJECTIVE Big Bazaar has been the pioneer of retail revolution. The task was t o change the mindset of consum er to bring about changes in their shopping patterns. It wanted people to do bulk shopping for their monthly ration instead of going to the shop each week. The research objective is to 1) 2) 3) 4) Reason for Big Bazaars grand success in the Indian Market Knowing the amazing schemes offered by Big Bazaar 4Ps of Marketing of Big Bazaar Recommendations for a positive future growth

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ORIGIN AND HISTORY

Big Bazaar was launched in September, 2001 with the opening of its first four stores in Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years, there are now 161 Big Bazaar stores in 90 cities and towns across India. Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of Pantaloons Retail India. The group do not promises more than what it delivers. Their basic attraction associated with reasonable prices is their Unique Selling Price. At present, the Future Group comprises various formats and brands like Pantaloons, F123, Copper Chimney, Etam, Staples, One Mobile, Urbana, Brand Factory, LootMart, HomeTown and Central. The Big Bazaar has several stores located all over the India, among that Chennai, Hyderabad, Ahmedabad, Bangalore, Kolkata, Pune, Mumbai and Delhi is those metro cities where the stores of Big Bazaars are located. Though Big Bazaar was launched purely as a fashion format including apparel, cosmetics, accessory and general merchandise, over the years Big Bazaar has included a wide range of products and service offerings under their retail chain. The current format includes Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar. The inspiration behind this entire retail format was from Saravana Stores, a local store in T. Nagar, Chennai. Though, the products Big Bazaar stores stocks might not be advanced, but the customers are assured to avail the worth of the money spent by them. In 2001, the group opened its first store on the VIP Road, Calcutta, which was the primary departmental store offering regulated services of parking, steel vessels, apparel, electronics etc. under the one roof at the competitive prices. Big Bazaar has become a massive hit with lower middle-class and middle class people as a major client base. .

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The stores are customized to provide the feel of mandis and melas while offering the modern retail features like Quality, Choice and Convenience. As the modern Indian family's favorite retail store, Big Bazaar is popularly known as the "Indian Walmart". On successful completion of ten years in Indian retail industry, in 2012, Big Bazaar has come up a new logo with a new tag line: Naye India Ka Bazaar, replacing the earlier one: 'IsseSastaAurAcchaKahinNahin'.

Big Bazaar symbolizes modern retail, the business which isnt looked up to in our country, is now in the eyes of many multi-national biggies. Big Bazaar has shown a robust growth in recent years.

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OPERATIONS
Most Big Bazaar stores are multi-level and are located in stand-alone buildings in city centers as well as within shopping malls. These stores offer over 200,000 SKUs in a wide range of categories led primarily by fashion and food products. Food Bazaar, a supermarket format was incorporated within Big Bazaar in 2002 and is now present within every Big Bazaar as well as in independent locations. A typical Big Bazaar is spread across around 50,000 square feet of retail space. While the larger metropolises have Big Bazaar Family centers measuring between 75,000 square feet and 160,000 square feet, Big Bazaar Express stores in smaller towns measure around 30,000 square feet. Big Bazaar has the facility to purchase products online through its official web page, and offers free shipping on some of their products.

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STRATEGY
According to Kishore Biyani's 3-C theory, Change and Confidence among the entire population is leading to rise in Consumption, through better employment and income which in turn is creating value to the agricultural products across the country. divided India into three segments: India one: Consuming class which includes upper middle and lower middle class (14% of India's population). India two: Serving class which includes people like drivers, household helps, office peons, liftmen, washer men, etc. (55% of India's population) and India three: Struggling class (remaining 31% of India's population). While Big Bazaar is targeted at the population across India one and India two segments, Aadhaar Wholesale is aimed at reaching the population in India three segment. With this, Future Group emerged as a retail destination for consumers across all classes in the Indian society. Big Bazaar has special schemes all around the year. They keep on promoting products by having special display of products. Sampling and testing of many products is available in store. Many small companies even launch their products through Big Bazaar. There are many schemes by various companies which are available in Big Bazaar only. Big bazaar also provides consumer durables on Low EMI and interest free installments also. Big Bazaar operates at 3 levels Super market, Hypermarket and Express stores. Express stores are running in high traffic areas too. It stared in developing areas to take advantage of Real estate Boom. Big Bazaar has changed the face of Indian consumer market a lot by giving consumer a lot of alternatives to choose from.
[4]

Big Bazaar has

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BOON TO INDIA
Big Bazaar proved to be a boon for the Great Indian Middle Class. It was started as a hyper market format in Mumbai with approximately 50, 000 sqft. of space. Its values and missions are to be the best in value retailing by providing the cheapest prices and hence goes the tag line Isse sasta aur achcha kahi nai. It sells a variety of merchandise at affordable rates, the prices of which it claims are the lowest in the city. Usually the items are clubbed together for offers as on the lines of WALMART. Never will one find Big Bazaar without any offers and that is the main reason for Big Bazaar grand success. This is because Big Bazaar has understood the buying behavior of the Indian consumers and accordingly planned its strategies to cater to the needs and wants of the Indian buyers. Big Bazaar currently operates out of 64 stores and top 15 stores register a cumulative footfall of 24 lakhs a month on an average. On successful completion of ten years in Indian retail industry, in 2012, Big Bazaar has come up a new logo with a new tag line: Naye India Ka Bazaar.

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FOOD BAZAAR
Food Bazaar is a part of Big Bazaar which is inbuilt in Big Bazaar premises and is specially meant for FMCG products. Food Bazaar supermarket is also available as a separate store at different locations. It is also a part of Future Group. Future Bazaar is mainly meant for Fast Moving Consumer goods but some other consumer items are also available at Food Bazaar. The most interesting part of Food bazaar in India is the ready to eat peeled and cut vegetables and fruits, different dough to make many South Indian and North Indian Dishes. To make dough for many south Indian dishes is a big headache for homemakers and when they find it readily available at food bazaar they cannot afford to leave it. Clean cut vegetables is also a great facility for working women who dont have time for all these activities. Some food bazaar stores are giving some very unmatched services like the customers can select different grain combination for their flour and staff will grind the grains for you in few minutes according to your requirement. On vegetables and fruits counter the customers can get the vegetable and fruits of their need peeled and sliced according to their need. There are also counters to pay different bills also to save time while shopping. The director of Future group says that they want place in heart of people so they are going for such innovative ideas. Free gifts on a particular purchase and buy one get one free kind of schemes are the most important part of Big Bazaar sale strategy and this can also be easily seen at Food Bazaar outlets. These schemes lead to bigger bills for consumer and high sales for the future group. It is a great platform for few small and new coming companies to introduce their

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products in the market. They easily come in notice of people and thus their advertising cost diminishes. There is a large variety of every single product is available. From small new coming brands to Large International brands all are available under one roof and consumer can choose according to its budget. Different companies also offer demo and free sampling of products at Food bazaar. So the consumer is the king and can taste the product without spending can buy only if he like the product. Onsite sampling is a great way to attract customers as many consumers dont buy the new brand as they have not tried so when they get sampling in stores they can go for new brands too. Food Bazaar is the only part of Future group which brings all homemakers to Big Bazaar and Food Bazaar to the hypermarket every week. It adds great revenue to Big Bazaar.

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PUBLIC HOLIDAY SALE AT BIG BAZAAR

This is another idea of Big Bazaar Team to attract more& more customers on weekends. Big Bazaar works with a motive to provide most products at lowest prices to consumers. People also love to visit Big Bazaar when these big bazaar offers are announced. All the offers of Big Bazaar had been quite famous among people in last 11 years. People now even await their Republic Day Sale which is known as Sabse Saste Din. People even keep the shopping delayed due to this offer & collect merchandise for two to three months in advance. This offer proved to be a landmark in big bazaar history & now they assume to get great response by this Public Holiday sale offer. Public Holiday Sale has offers for everyone in the family from kids to adults. There are great offers in all categories like Food & grocery, Apparels, Accessories, Toys, Travel Gear, Kitchenware, Bad & Bath collection, Electronics, Furniture, Home Improvement & jewelry. People can get many products at their lowest prices during these 4 days. There is another great offer for public sector employees on 1st may. They can get additional offers & discounts on occasion of Labor Day. It is an attempt by future group to appreciate work of people who are involved in nation progress.

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BIG BAZAAR COUPONS

All of us like shopping. It is one of the favorite activities that ladies love to do. Some people do it for need while for few others it is just a fun & pleasure. Shopping was not so much fun in India before 2001. After launch of Big Bazaar in the face of Indian retail market has changed. It has become another means of enjoyment & weekend entertainment. Everyday shopping has also changed after opening of Big Bazaar. Big Bazaar offers huge discounts & offers which allows customer to buy many goods at very low prices. Their buy one get one scheme has made many people shift their favorite brands too. Many new small scale companies have started getting good sales at Big Bazaar counters. Big Bazaar Coupons are also available for online shopping. There are many big bazaar deals available online by which consumers can buy products in their budget. Big Bazaar Coupons are also available in many denominations. Many people commits that their way of shopping has changed & Big Bazaar is their favorite place to shop. At Big Bazaar shopping is very convenient & people love to visit Big Bazaar with their family. Every member of family gets products of their choice under 1 roof. Big Bazaar rates are also reasonable as compared to other store in the market. Big Bazaar is one of the most favorite hyper markets in India. Big Bazaar Coupons is a great gifting idea too. They are easily available & redeemable. Big Bazaar Vouchers can be redeemed at all big Bazaar outlets throughout India. With Big Bazaar coupons one can go for unlimited shopping. One can buy a large variety of Big Bazaar products like apparels, groceries, cosmetics, accessories, consumer durables, home appliances & furniture etc. with Big Bazaar Coupons without any hindrance. At Big Bazaar products are very reasonably priced so one can go for continuous shopping with Big Bazaar Coupons. Shopping has become very easy with big bazaar discount coupons. Big

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Bazaar Coupons comes with a validity of 9 months so one can use them any time in 9 months. Whatever product you buy from Big Bazaar either with big bazaar discount coupons or Big Bazaar Coupon Code they come with manufacturers warranty. One can easily get good quality merchandise at affordable rates with big bazaar vouchers. With future bazaar one can buy big bazaar products online too. They have many payment options open to all. One of their most favorite payment options available among users is cash on delivery. The best part is most of items are available there with free shipping facility. Big Bazaar has become one of the most favorite & successful retail Chain Company in India. This is because of the Big Bazaar Schemes, the facilities it is providing to consumers, the staff who is very cooperative, Big Bazaar discount vouchers & gift coupons etc. One of the best deals that I found on big bazaar was a Big Bazaar coupon of Rs 1000 for just Rs.799. Also they were giving an assured gist. This deal was awesome. This way big bazaar gives big value for our money. So their promise of more for less is also fulfilled. This kind of deals made me say Is se achhi deal aur kahin Nahin.

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BIG BAZAAR PROMOTIONAL OFFERS

Big Bazaar encourages new promotional schemes time to time to boost their sales. The customers also get some big benefits from these promotional schemes. Big Bazaar has employed highly qualified staff to assist consumers. All the products are well managed and displayed in a nice way. There are many billing counters for easy and prompt billing. Boards are placed at most of counters so that one can easily pick the product of its need. Multiple Brands are available for most of the merchandise. Products are properly marked and rates are mentioned. The buyer has the facility to choose its favorite brand. Big Bazaar also has its own brand products which are available at quiet reasonable rates so that they are very budget friendly.

SABSE SASTE 5 DIN

With a view to get maximum benefit of holiday and long weekend Big Bazaar introduced concept of Sabse Saste 5 din in January 2006. Republic Day 26th January and Independence Day 15th August are national holidays, so Big bazaar proposed the idea of Sabse Saste din. These days varies according to the national holiday and goes on till the coming weekend. It may last for 5 days even. Big bazaar offers many great discounts and offers during these days.

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WEDNESDAY BAZAAR
Wednesday has been named as Hafte Ka Sabse Sasta Din by Big Bazaar. This is because Wednesday is the most desolate day of the week. Very few consumers visit market on the mid-week day. This scheme brings out most housewives to save a lot on this day. Big Bazaar gives huge discounts on many products on Wednesday. One more benefit for consumers is that they can avoid rush days on weekends. This offer of Big Bazaar promotes its sale on weekdays as well when the expected footfall is less than weekends.

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THE GREAT EXCHANGE OFFER

The Great Exchange Offer also is very commonly known as Kuch Bhi Lao Kuch Bhi Pao Offer. When you think of disposing old goods and scrap its a big headache. Big Bazaar has brought out solution to this problem. The Great Exchange Offer of big bazaar runs every year in financial year end. February and March are the months of Exchange Offer. It is a great opportunity for consumers to get good rates for scrap. Big bazaar issues coupon against the scrap which you can use against your purchase at Big Bazaar. You can get coupons by giving away old goods like electronics, newspaper, shoes, tires, clothes, utensils, plastic wares and furniture etc.

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BIG BAZAAR GIFT VOUCHERS

When you are too confused in buying a gift for your near and dear ones? Big Bazaar makes it easy for you. You can gift Big Bazaar Gift vouchers which are like cash and can be redeemed at any Big Bazaar and Food Bazaar outlets all over India. These Gift vouchers can be used to make payment for any goods and services available at Big Bazaar. Big Bazaar Gift vouchers are available in denominations of Rs. 100 to Rs. 5000. One can choose according to its requirement. The other promotional schemes which Big Bazaar is using are special Big Bazaar card which provide some privileges to its holders. They also use big faces for Brand Endorsement. Some of the Big celebrities include Famous cricketer of Indian Cricket Team M.S. Dhoni, Bollywood actresses like the very famous Asin and the beautiful Vidya Balan.

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PERSONAL OBSERVATIONS
I am a regular shopper at Big Bazaar. Our monthly grocery (ration) comes in from Big Bazaar which is at Mega Mall in Oshiwara. Since I was making a project on Big Bazaar I closely observed the infrastructure and the setup of the entire store. The following were my observations 1) 2) Big Bazaar at Mega mall is inside the mall on the lower ground floor The verticals inside the store relates to each category of product a) Food Bazaar b) Depot Books c) Electronic Bazaar d) Furniture Bazaar e) Footwear Bazaar 3) 4) 5) 6) Trolleys are not easily available Little attention to cleanliness is given. Dust on shelves as well as some product items. The store is full of ceiling hangars which highlights the various offers on the products Crowded store interiors. Items are arranged in a cluttered way and maximum number of items is tried to stock in a minimum space. 7) Sign Boards are not prominent. Lack of direction creates a bit of confusion especially for those who do not often shop at the store 8) The store comprises of family crowd. Youth comprises of only 10 15% of the crowd.

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9)

Food Bazaar is efficiently managed. It looks like a bit overstaffed but the layout is very good. The shelf space is used very well to stock the products with clear distinction.

10)

Cash counter is over burdened with people. The staff at the cash counter seems to work really slowly as per the crowd in the store.

11) 12) 13)

Easily one can shop everything under one roof Comparison between products of various brands is easily possible The staff is hospitable and helpful

Thus I summed up my observations by enjoying shopping at Big Bazaar.

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4Ps OF MARKETING OF BIG BAZAAR

Marketing mix is a deciding factor in formulating marketing techniques for the success of a particular brand, commodity or company. The components of marketing mix include: 1) 2) 3) 4) Product Price Promotion Place A proper analysis of the marketing mix by Big Bazaar has made it a GIANT. Let us study each component of Big Bazaar in detail.

PRODUCT
Big Bazaar offers the maximum variety for each category of product and this is cited by the customers as one of the main reasons why they like shopping at this hypermarket. The product is the same in every store in the city but the brand options are more in Big Bazaar. Also, the quantity for each product is not limited to large packs only but also that of the local brands of popular commodities like diapers, sugar, wheat flour, garments, etc are very popular in the Big Bazaar stores. These products are never advertised but offer huge margin on sales. In this way the lower middle class are targeted well. The commodities sold by retail chains also include its own products which get a ready distribution network. The own products of Big Bazaar include My World Fashion Magazine which is not available anywhere else. So costs are low for such products.

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CONCLUSION
1) 2) 3) Big Bazaar scores high on the product part of marketing mix Customers have a varied choice of the products Customers like to touch and feel the product and selecting themselves before buying

My World Magazine

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PRICE
Price is the critical point in a competitive industry. Big Bazaar works on a low cost model. Big Bazaar considers its discounted price as its USP. There is an average discount of 7 8 % on all items in respect to their MRP. Prices on products are low because Big Bazaar is able to secure stock directly from the manufacturer. There are huge synergies in terms of bulk purchasing, central warehousing and transportation. All these factors help the retailer i.e. Big Bazaar to keep low prices. Low prices were the biggest factor in customers mind while coming to Big Bazaar. It has never focused on giving great services, but laid emphasis only on low prices to attract the crowd.

CONCLUSION
1) 2) 3) 4) Almost everything has some kind of discount in Big Bazaar It clubs small quantities to make bigger packs and then lower the prices It considers price to be the biggest attraction for all the customers. Consumers accept the fact that they come from faraway places because it is cheap in Big Bazaar for bulk shopping 5) Big Bazaar offers same price to all its customers

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PROMOTION
Big Bazaar has huge promotion budgets. The biggest idea behind all this advertisement is to make people do bulk shopping. Big Bazaar follows two types of promotional strategies. One is the holistic advertisement which promotes the brand and creates awareness among people. It is not targeted at promoting each store but the advertisement only creates the brand image of Big Bazaar as low cost shopping option. The store has advertised through T.V, road shows and also started reality show-type promotional campaign The Big Bazaar Challenge. Promotions like Sabse Sasta Din are a very successful strategy to get footfall. Other type of promotions the particular store oriented promotion which includes speaking on the loud speaker inside the store itself in nearby blocks where the consumers are shopping. Leaflets are given in local newspaper. There are promotional efforts made even inside the store. The most common and happening promotion in Big Bazaar is the Buy 1 Get 1 or Buy 2 Get 1 or Buy 2 Get 2 offer. Original prices are cut down and new prices are shown, which is quickly noticed by the customers. There are loyalty schemes which reward clients. Promotion is also done through co- branded credit cards with ICICI bank.

CONCLUSION
1) 2) 3) Big Bazaar cannot survive without promotions A big advertisement helps to get large scale of operations Customers accept the fact that the advertisements are one of the many reasons that influence their buying behavior 4) The loyalty scheme influences the repetitive visit of the customer to the store

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PLACE
Place means the location of the business. Big Bazaar has always worked on low cost locations. It targets semi urban population with its placement. Its strategy is to find a cheap location and it never goes for hotspots in the city. Such a cost costing is utilized extensively in its promotional activities. Another strategy used by Big Bazaar to overcome its location disadvantage is the use of internet. It has launched a merchandise retailing website - www.futurebazaar.com which targets high end customers ready to use credit cards. Therefore Big Bazaar has made headway into a potentially high yielding sector of online trade. Internet as place has put Big Bazaar in a profitable position because there is minimal expense of maintaining a website. The promotion of their website is done through advertisement on Google. Also internet saves the time of the customers in coming down to the store.

CONCLUSION
1) Location is something which is permanent. So cautious decisions are taken while selecting place 2) 3) Big Bazaar refrains from high end locations for its business. Internet buying has proved boon to those customers who do not have time to come to the store.

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PROFITABILITY
Profits are the basic motive behind the running of any business. Retail formats have their own budgets, future projections and financial limitations. Profitability measures the efficiency of operations. Big Bazaar works on different scales of operations. The deciding factor here is investment capabilities. Big Bazaar is present in all major cities of the country. And this means there is huge requirement of capital. The store generally occupies 30,000 sqft. of space on an average. Marketing mix becomes an important factor in deciding future strategies. The average sales of some of the stores go up to 8 lakhs per day. The profits of some of the stores are not disclosed. Big Bazaar is a brand under Pantaloons Retail (India) Ltd. The net worth of the company is Rs. 526.88 crores. This includes all the investments made by the promoters and subsequent reserves created during the life of the business. The profit after tax in financial year 2005 -06 was 64 crores on revenues of 1871 crores. This means a net profit ratio of 3.42%. This is very low for a national retail chain but it highlights the fact that the sector has a huge potential and will generate more profits once the government policies are in favor of opening up the sector further. Low profit can be attributed to 1) 2) 3) 4) High cost of research required to study each and every region of the country The large number of staff needed to manage all the stores Burgeoning real estate prices which leads to high rentals Huge promotional activities

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RECOMMENDATIONS FOR THE MARKETING MIX STRATEGY OF A NEW VENTURE OF BIG BAZAAR

PLACE
The new stores should have a central location in the market because customers will not prefer one store over the other. They will simply go to the most accessible one. Proximity of location to places like coaching classes, offices, etc. would be an added advantage. The store should spread over an area of at least 900 sq ft. the store should be such that the customers can roam around and feel the products for themselves. Many customers consider shopping as time pass, hence they take their time in selecting items. So there should be enough walking space in between the product racks. The place should be well lit and air conditioned. All the products in all the stores should be on display.

PRODUCT
Product variety is a big factor in determining customer response. The owner should not limit itself to brands of few companies only. The range of items available should be a balance between branded goods and local products. The shelf space should be efficiently utilized to give maximum exposure of the product to the public. The store should include beauty products in its display because women are chief buyers in departmental stores. The products should be clearly categorized as high end or low end. The customers should be assured of quality of non branded items like loose packs of wheat flour, pulses, etc. Diversification of product type is recommended. It should stock perishable food items, instant eatables, FMCG goods like toiletries.

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PRICE
Price of goods depends on the success of the store over a period of time. Margins are very tight. It is not possible for the owner to match the prices and discount schemes of the retail chains. The store should start off with inaugural discounts to get attention. These discounts should be slowly discarded. The owner should identify the high potential customers and give some relief off the MRP mentioned to gain loyalty. This will help the store in the long term. One way to offer better prices is by having local products like biscuits etc., which are of assured quality. This will satisfy the demands of the low end customers.

PROMOTION
A departmental store which operates in a particular locality does not need fully fledged promotional campaigns. But for startup, the store should distribute leaflets in local newspapers to create awareness among residents. The leaflets should include special features of the stores with maximum emphasis on inaugural discounts on items. This should help it create a favorable word of mouth scenario. Another way to talk to the general public and ask for their suggestions on improving the layout. In this way, people will feel happy about going to the store and shopping. The store should use in store advertisements to make sets use of large floor space by putting up discount boards inside the store above a particular product as well as just outside the store. In this way we can make use of the marketing mix for a new venture which belongs to the organized retail sector. Application of the best marketing practices will ensure great success for Big Bazaar

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SUMMARY
Big Bazaar has indeed proved a boon to the Indian market. It has captured the Indian market as a whole with all the classes of people willing and buying products from Big Bazaar. The aim of Big Bazaar to eliminate the unorganized sector of marketing has been achieved to some extent by it. The amazing, interesting, unexpected and worthwhile offer of Big Bazaar is the main reason for the grand success of Big Bazaar in the Indian market. Big Bazaar has offers for anything and everything which amuses and motivates the customers to buy products ONLY from Big Bazaar. Big Bazaar has truly understood the buying motive of the Indian market has accordingly taken up its marketing strategies to attract the customers which in turn have made the survival of Big Bazaar possible in the Indian Market. The marketing strategy of Big Bazaar is dynamic which is evident from its operations and from its 4Ps of marketing. The recommendations mentioned, if adopted by Big Bazaar, will definitely make it accept to any amount of challenges and overcome the threats in the market. Big Bazaar The Indian Organized Giant can truly be considered as the INDIAN WALMART.

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REFRENCES
1) 2) 3) 4) 5) 6) 7) www.bigbazaar.com www.futurebazaar.com en.wikipedia.org/wiki Bigbazaar.net.in www.indiainfoline.com Images are taken from Google Images The written text also contains information of my knowledge.

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