AKNOWLEDGEMENT

I, Tina Dubey of BBA 6th sem., express my heartedly gratitude to my guide Ms. Sarita Dubey for all the support given to me during the completion of my project. I am all thankful to my principal Mr. Sameer Thakur for providing me the opportunity to carry out the project. I am very thankful to Mr. Mushtaq Ali, department manager of big bazaar for the guidance he gave me during the project.

Tina Dubey BBA 6TH sem.

INDEX
CHAPTER 1. Company profile CHAPTER 2. Review of literature CHAPTER 3. Research methodology CHAPTER 4. Analysis & interpretation CHAPTER 5. Finding CHAPTER 6. Suggestion CHAPTER 7. Conclusion CHAPTER 8. Limitation BIBLIOGRAPHY/ WEBLIOGRAPHY QUESTIONNAIRE/ APPENDICES

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 converted to market share. There is always a first mover advantage in an upcoming sector. In India, that advantage goes to Big Bazaar. It has brought about many changes in the buying habits of people. 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. 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.

Company profile Big Bazaar

Pantaloon Retail (India) Limited, is Indias leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai (Bombay), the company operates over 7 millions square feet of retail space, has over 1000 stores across 53 cities in India and employs over 25,000 people. The companys leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian Hypermarket chain, food Bazaar, a supermarket chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, all, Top 10, bazaar and Star and Sitara. The company also operates an online portal, futurebazaar.com. Big Bazaar is not just another hypermarket. It caters to every need of your family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers.

At Big Bazaar, you will definitely get the best products at the best prices - thats what they guarantee. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including Home furnishings, utensils, crockery, cutlery, sports goods and much more at prices that will surprise you. And this is just the beginning. Big Bazaar plans to add much more to complete your shopping experience.

Future group
Future group is one of the countrys leading business groups present in retail, asset management, consumer finance, insurance, retail media, retail spaces and logistics. The groups flagship company, pantaloon Retail (India) Limited operates over 7 million square feet of retail space, has over 1000 stores of its leading retail formats include, Pantaloon, Big Bazaar, Central, Food Bazaar, Home Town, Ozone, Depot, future Money and online retail format, futurebazaar.com. Future group includes, Future Capital Holding, Future Generally India Indus league clothing and Galaxy Entertainment that manages sports Bar, Brew Bar and Bowling Co. Future Capital Holding, the group s financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels.

The groups joint venture partners include Italian insurance major, generally. French retailer ETAM group. Us-based stationery products retailers, Staples Inc.

and UK-based Lee Cooper and India-based Talwalkars, Blue Foods and Liberty Shoes. Future Groups vision is to, deliver Everything, Everywhere, Every time to every Indian consumer in the most profitable manner. The group considers as a core value and its corporate credo is- Rewrite rules, Retain values.

Indian retail market scenario The financial year 2005-06 saw India ride high on the waves of a booming economy. The BSE sensex scaled new heights by crossing the 1200 points mark early that year. The GDP growth for 2005-06 was about 8.4 % while foreign reserves had crossed the US$ 165 billion mark. India had shed its tag of a third world country and is being hailed as one of the most rapidly emerging markets and a popular investment destination.

Between the affluent and the middle class has reduced dramatically. The Indian middle class is expected to grow from its current share of 22 % to 32 % of the total population by 2010 over the last few years retail has become one of the fastest growing sector in the Indian economy. Retail in India is currently estimated to be a $230 billion industry of which organized retail 3 % or roughly $ 7 billion. At keamey has identified India as the leading retail destination in their annual list of most attractive countries for international retail expansion (Global retail development index 2006). Organized retail is expected to grow at the rate of 25-30% per annum and is projected to attain a size of $23 billion by 2010.

The booming services sector in India has fueled the growth of a new class of consumer the single urban youth whose expenses are typically independent of family compulsion. As observed globally the steady climb in lifestyle and leisure goods is essentially due to disposable income of this class of consumers. Over the last one year salaries have increased by approximately 15-20%. The divide The government has allowed foreign direct investment in real estate since early 2005. This has led to increased foreign interest and has encouraged joint ventures between Indian and foreign developer. Considering the vast potential in the retail business 51% FDI in single brand retailing has also been allowed recently. This move is anticipated to attract foreign investment technology global best practices and cater to the demand for high quality branded goods in India.

Corollary to the real estate growth retail boom too has percolated to the tier-2 and tier-3 cities of India of the total 361 mail projects currently underway in India 227 are in the top 7 cities while the rest 134 are distributed over various tier-2 tier3 cities. These statistics reveal the far reaching effect of positive macro trends In changing the consumer preferences and shifting mindsets towards organized retail experience besides new malls close to 35 hypermarket 325 large department stores and over 10000 new outlets are also under development. Growth in rural population and increase in agricultural incomes also offers considerable scope for innovative retail formats. Indias vast middle class and its virtually untapped retail industry are key attraction for global retail giants wanting to enter new markets. As India continues to get strongly integrated with global policies the retail sector is bound to grow manifold in the years to come. The depth of the Indian market and the variations of the consumer profile portend a bright future for the sustained growth of the Indian retail sector.

Current scenario Pune has been experiencing a retail boom since the last 2-3 years in 2005 approximately 1.25 mm. sq. ft of new retail space was added to Pune real estate market. This led the current retail stock of the city to grow to 3.5 mm.sq ft growth in commercial activities and the migrant population of young white collar workers has been the key driver of real estate boom in the city. With 23 mall projects in the pipeline the city was expected to have a cumulative retail slot of approximately 4.5 mn.sq ft by end 2006 and infusion of new retail space over the next two years the total retail stock in Pune by end 2008 is estimated to be about 8.7 mn sq ft. The city has been witnessing an interesting trend of movie screens being located in large format mall developments. Another noticeable trend in the retail format is the advent of specialty mall or niche malls. Centre locations The locations where retail developers have flourished traditionally are the high streets of M .G Road F C road and J. M. road in the central part of the city these markets have a unique mix of local brands along with national and international retailers both are known to generate substantial revenues along with heavy footfalls. However the development of malls in the neighboring locations is anticipated to affect the footfalls of these traditional high streets. A case in point is the presence of magnum mall (175000 sq. ft.) In the camp area which has created a pull effect on the consumer stronghold of M. G. road.nucleus mall (200000 sq ft ) in camp which became operational in 2005 had shoppers stop take up space for its second outlet in the city. Another large scale project Pune central a mall by pantaloon retail on bund garden road

has food bazaar as its anchor tenant and caters to the domestic needs of the bulk of the resident population of central Pune. These retail market in the central location of the city currently house approximately 1.78 mn.sq.ft of retail stock a new mall fun n travel (100000 sq ft) has been planned in the bund garden region while two malls ascent (93654 sq ft) And one centre port (1240000 sq ft) are coming up on the university road. These developments are slated to enter the market sometime in 2007.

Suburban and peripheral location

While the retail markets in camp an bund garden road continue to mature retail sector activity is increasingly shifting to suburban and peripheral locations of Aundh, Hadpsar karve road kondhwa and yerwada note wothy mall development sudev axis (350000) will also be operational in 2007 this micro market is expected to witness a number of large scale mall developments amounting to approximately 2.3 mn sq ft of new retail space by 2008.

Big Bazaar
Pantaloon Retail (India) Limited, is Indias leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai (Bombay), the company operates over 7 millions square feet of retail space, has over 1000 stores across 53 cities in India and employs over 25,000 people. The companys leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian Hypermarket chain, food Bazaar, a supermarket

chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, all, Top 10, bazaar and Star and Sitara. The company also operates an online portal, futurebazaar.com. Big Bazaar is not just another hypermarket. It caters to every need of your family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers. Big Bazaar is not just another hypermarket. It caters to every need of your family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers. Big Bazaar is a chain of hypermarket in India. Currently there are 214 stores across 90 cities and towns in India covering around 16 million sq.ft. of retail space. Big Bazaar is designed as an agglomeration of bazaars or Indian markets with clusters offering a wide range of merchandise including fashion and apparels, food products, general merchandise, furniture, electronics, books, fast food and leisure and entertainment sections. Big Bazaar is part of Future Group, which also owns the Central Hypermarket, Brand Factory, Pantaloons, eZONE, HomeTown, futurebazaar.com, KB's Fair Price to name a few and is owned through a wholly owned subsidiary of Pantaloon Retail India Limited(BSE: 523574 523574), that is listed on Indian stock exchanges.

Review of literature Marketing strategies : Marketing strategies serve as the fundamental

underpinning of marketing plans designed to fill market needs and reach marketing objectives.[2] Plans and objectives are generally tested for measurable results. Commonly, marketing strategies are developed as multi-year plans, with a tactical plan detailing specific actions to be accomplished in the current year. Time horizons covered by the marketing plan vary by company, by industry, and by nation, however, time horizons are becoming shorter as the speed of change in the environment increases.[3] Marketing strategies are dynamic and interactive. They are partially planned and partially unplanned. See strategy dynamics. Marketing strategy involves careful scanning of the internal and external environments.[4] Internal environmental factors include the marketing mix, plus performance analysis and strategic constraints.[5] External environmental factors include customer analysis, competitor analysis, target market analysis, as well as evaluation of any elements of the technological, economic, cultural or political/legal environment likely to impact success.[3][6] A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement.[7]

Once a thorough environmental scan is complete, a strategic plan can be constructed to identify business alternatives, establish challenging goals, determine the optimal marketing mix to attain these goals, and detail implementation.[3] A final step in developing a marketing strategy is to create a plan to monitor progress and a set of contingencies if problems arise in the implementation of the plan.

Marketing strategies may differ depending on the unique situation of the individual business. However there are a number of ways of categorizing some generic strategies. A brief description of the most common categorizing schemes is presented below: * Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are four types of market dominance strategies: ** Leader ** Challenger ** Follower ** Nicher * Porter generic strategies - strategy on the dimensions of strategic scope and strategic strength. Strategic scope refers to the market penetration while strategic strength refers to the firms sustainable competitive advantage. The generic strategy framework (porter 1984) comprises two alternatives each with two alternative scopes. These are Differentiation and low-cost leadership each with a dimension of Focus-broad or narrow. ** Product differentiation ** Cost leadership ** Market segmentation * Innovation strategies This deals with the firm's rate of the new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types: ** Pioneers ** Close followers ** Late followers * Growth strategies In this scheme we ask the question, How should the firm grow?. There are a number of different ways of answering that question, but the most common gives four answers: ** Horizontal integration ** Vertical integration ** Diversification

Intensification A more detailed scheme uses the categoriesMiles, Raymond (2003). Organizational Strategy, Structure, and Process. Stanford: Stanford University Press. ISBN 0804748403.: Prospector Analyzer Defender Reactor Marketing warfare strategies - This scheme draws parallels between marketing strategies and military strategies.

Marketing strategy of big bazaar:

BIG BAZAAR FOR THE GREAT INDIAN MIDDLE CLASS Kishore Biyani led the companys foray into organized retail with the opening up of the Big Bazaar in the year 2001. It is a unit of Pantaloon Retail (India) Ltd and caters to the Great Indian Middle Class. It was started as a hypermarket format in Mumbai with approx. 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 Is se sasta aur achcha kahin nahin It sells variety of merchandise at affordable rates, the prices of which it claims are lowest in the city. Usually the items are clubbed together for offers as on the lines of Wal-mart and Carrefour and it also offers weekend discounts. It currently operates out of more than 100 stores and top 25 stores register a cumulative footfall of 30 lakh a month on an average.

4Ps OF MARKETING "Marketing" is the promotion of products, especially advertising and branding. Marketing practice tends to be seen as a creative industry, which includes advertising, distribution and selling. 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 are: Product Price Promotion Place

PRODUCT: Big Bazaar offers the maximum variety for each category of product. 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. The commodities sold by the retail chain also includes 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.

PRICE: Price is the critical point in a competitive industry. Big Bazaar works on a low cost model. It considers its discounted price as its USP. There is an average discount of 7-8% on all items in respect to their MRP. Prices of products are low because it is able to secure stock directly from the manufacturer. There are huge synergies in terms of bulk purchasing, central warehousing and transportation. These all factors help the retailer to keep low prices.

PLACE: Place means the location of the business. Big Bazaar has always worked on lowcost locations. It targets semi-urban population with its placement. Its strategy is to find a cheap location and it never goes for hot spots in the city. It relied on promotional activities to make up for unattractive locations. Another strategy used

by Big Bazaar to overcome location disadvantage is use of internet. It has launched a merchandise retailing website www.futurebazaar.com which targets high-end customers ready to use credit cards. The promotion of this website is done through advertisement on Google. The website is put as sponsored link.

PROMOTION: Big Bazaar has huge promotion budgets. The biggest idea behind all advertisements is to make people do bulk shopping. There are 2 types of promotional strategies of big bazaar. One is the holistic advertisement which promotes the brand and creates awareness among people. It is not targeted at promoting each store but only creates an image of Big Bazaar as low-cost shopping option. The store has advertised through TV, road shows and also started reality show-typed promotional campaign The Big Bazaar Challenge. Promotions like Sabse Sasta Din are a very successful strategy to get footfall. In this products across categories such as apparels, furniture, electronics, utensils and food products at the lowest possible prices, coupled with attractive promotional schemes. Some of the most attractive offers being a 20-litre branded microwave oven with grill for Rs 2,499, jeans and trousers for Rs 199 and HCL laptops for Rs 22,990. Other type of promotion is the particular store oriented promotion which includes speaking on the loudspeaker in nearby blocks. Leaflets are given in local newspaper. There are promotional efforts even inside the store. Buy 2 Get 1 Free

type of promotions are very common. Original prices are cut down and new prices are shown, of which customer takes quick notice. There are loyalty schemes which reward regular clients. Promotion is also done through co-branded credit cards with ICICI bank.

-----Big Bazaars New Marketing Strategy: Big Bazaar has launched new marketing strategy which is based on Guerrilla Marketing. Guerrilla marketing warfare strategies are a type of marketing warfare strategy designed to wear-down the enemy by a long series of minor attacks, using principles of surprise and hit-and-run tactics. Attack, retreat, hide, then do it again, and again, until the competitor moves on to other markets. Herein guerrilla force is divided into small groups that selectively attack the target at its weak points. In the world of cut throat competition, corporate use extension of the same strategy in marketing. Corporate like Coke, Pepsi, etc have been using the same for quite some time now and the latest entrant is our very own Future Group- Big Bazaar, Pantaloons, Future Bazaar, eZone are all part of this group and they are taking on the biggies like Shoppers Stop, Lifestyle, and Tatas Westside.

In order to do the same, Future Group have come up with 3 catchy/cocky and cheeky ad campaigns which surely do catch our eyes and surely one cant resist appreciating the same. Keep West-aSide. Make a smart choice! Shoppers! Stop. Make a smart choice! Change Your Lifestyle. Make a smart choice!

Future Expectations: Big Bazaar is planning to have 300 hypermarkets in the country by 2010-11. The company may also increase its annual turnover to Rs. 13,000 crore by 2010-11, up from Rs. 3,600 crore last fiscal on the back of its expansion. The company has also gone on record saying that it would have another 35 stores by the end of its fiscal in June 2009 to take the total number to 135. To achieve this they are targeting a turnover of Rs. 5,000 crore in the current fiscal year and have formulated plans for reaching a figure of Rs. 13,000 crore by 2010-11 fiscal. For the expansion, the company would be looking at both the metros and Tier I cities, besides Tier II cities & smaller cities. The marketing strategy seems to be perfectly on track as the Big Bazaar hypermarkets had a footfall of 11 crore last fiscal and the company is aiming for an increase in the numbers up to 14 crore this year. The average size of a Big Bazaar hypermarket is 30,000 sq ft to one lakh sq ft.

Advertising:

The departmental store chain Big Bazaar has launched a commercial sometime back to promote 'The Great Exchange Offer'. The commercial portrays how customers can exchange any old and broken items (junk) and get new products at a discounted price from Big Bazaar. The 30 seconds film unfolds through the eyes of a cabbie in a busy city street, he is intrigued by the disruptive visual of a well-dressed office executive carrying a bundle of old newspaper and walking through a crowded place. The cabby then notices a young office going lady in western wear carrying a rusty bucket filled with broken utensils, the cabbie is absolutely confounded but continues to follow her with a broken tyre in his hand and comes across another absurd situation of a highly placed executive in a chauffeur driven car with a broken commode on the top of the car. Penultimate situation reveals everybody is heading towards Big Bazaar for the exchange offer; the cabbie comes out of the store happy and excited after getting an amazing deal for his junk tyre. Moving images are interspersed with supers that hi-light the amazing prices a consumer can get for his junk. The sound track uses a typical kabada guy's shout as he walks through City Street calling for junk. The month of January and February is generally a low-key affair in terms of customer footfalls and revenue generation. Innovative, out of the box promotions is one of the effective ways to draw customer attention and shore up the revenue. Historically Exchange schemes have been used to induce better sales, it also has a strong appeal with the Indian mindset of getting value even for their junk, states an official release from Big Bazaar.

Brand Ambassador: A brand ambassador is a celebrity (or an attractive or interesting person) used to help advertise a product or services. Big Bazaar, has roped in cricketer Mahendra Singh Dhoni as the Brand Ambassador for its new range of fashion apparel. Dhoni would feature in a series of advertisements across all media. Dhoni and Big Bazaar have a lot of synergies as the Indian one-day international teams captain stands for the aspirations of youths, while Big Bazaar is looked up to by millions of Indians to fulfill their aspirations

In this way, Big Bazaar make full use of the marketing mix for a new venture which earlier belongs to the unorganized retail sector i.e. kirana stores. Application of the best marketing practices helps Big Bazaar in a great way

Types of marketing strategies

What types of Marketing Strategies can you use to launch your business ?
The types of marketing strategies available to you as a business owner today are unlimited. Still, marketing itself is hardly a new concept people and businesses have been engaged in marketing for centuries. But with the passing of time, the best marketers recognize and accept the fact that marketing is as much psychology as it is technique. Combining these two elements effectively can yield your business fantastic marketing results. Generally speaking, there are three broad types of marketing strategies: 1. Offline (or traditional forms of) marketing 2. Online marketing (with the arrival and development of the internet) 3. Word-of-Mouth marketing (which is the oldest and arguably the most effective still today) Lets take a look at each Offline Marketing The term offline market is a term that acknowledges the fact that the Internet has radically altered the way the world relates and communicates. Offline marketing refers to those types of marketing strategies which have long been accepted because of their proven and consistent results.

Offline marketing can be split into three categories:

Print like newspapers, magazines, yellow pages, ads, flyers, coupons, etc. Television and radio Word of mouth (which is important enough to talk about separately)

Other examples of offline marketing include billboards, posters, newspapers and mailers. Also common are the more direct methods of press releases and conferences, and seminars. Product samples and demos are yet another way to promote a brand. Offline marketing can be cheap or expensive, but if done correctly, is still highly effective. In fact, despite the introduction of the internet as a powerful marketing tool, offline marketing still prevails as the main form of advertising for many large organizations. In many ways, offline marketing can target audiences based on behaviors and usage. For example, TV advertising can target channels watched, times of day or even certain days in a month. Radio ads can be targeted similarly. Newspapers also have the ability to target certain types of readers by selecting a certain newspaper or even a section of a newspaper based on who reads it. Flyers and mailers can be distributed by postal areas.

Online Marketing
The Internet has revolutionized the way we work, live and also spend money! Today, the Internet is a goldmine for businesses because of the ability to reach and service customers globally while reducing operating costs significantly. Online marketing offers businesses opportunities which would be insanely expensive in the offline world at a fraction of the cost.

Imagine wanting to broadcast an advertisement globally on TV for a new product how much would that cost you? With the Internet, you can accomplish that same goal at a relatively low cost. Still, much of what is done online in terms of marketing and sales mimics the offline world of marketing. Online, however, you have the ability to target your audience more finely and more quickly. There are several types of marketing strategies online. Examples include

Performance marketing marketing by ad placement based on search engine queries, where the advertiser only pays for advertising when someone clicks on the ad. Google has become the leader in performance/search marketing because of its powerful search engine and data resources.

Banner marketing once the main form of online marketing during the tech bubble, has lost favor to performance marketing. The once high cost of banner placements did not necessarily translate into sales conversions. Banners are now for the most part, considered as supplemental advertising, except when the banner is itself a form of contextual or performance marketing.

Email marketing and press releases considered by many today to be the king of marketing online. You can commonly hear marketers say stuff like the money is in the list when referring to email marketing. Beware though that there are acceptable and unacceptable forms of email marketing. Be careful not to become a SPAM artist!

Social Networking and Social Bookmarking This type of marketing has quickly gained favor with the explosion of social networks like MySpace, Twitter and Facebook. They are such powerful promotional tools that not only businesses are tapping into them so are politicians,

musicians and celebrities. Its phenomenal how quickly you can get the word out about something and have it travel the world within minutes.

Affiliate Marketing a bit slower to develop than other types of marketing strategies online, affiliate marketing has now become a multi-billion dollar industry. The concept of affiliate marketing is to let website owners promote your products or services and give them a commission for every sale or lead they generate for you. Its a very efficient form of marketing because the cost to set up and implement is relatively low, and you let the real experts promote your brand for you on a performance basis.

Word of Mouth Marketing By far the most powerful form of marketing is and will always be word of mouth. People trust their friends and family and other users more than they trust banners or ads. The power of word of mouth should not be underestimated. Word of mouth advertising transcends beyond all other forms of marketing because it can fit into any one of them. Take for example, the logo on a can of Coke. Someone drinks a Coke and leaves the can on the table. That in itself is powerful marketing. Even though there technically was no word of mouth, the mere fact someone drank a Coke and left the can behind for someone else to see it get my drift? Same thing with online marketing strategies like affiliate marketing which is essentially word of mouth. Someone recommends a product or service on their website and the word gets out.