Future Group focuses most in the retail section and almost all of its businesses are built about the same. Future Group's retail network runs 1, 000 stores for more than 200 million Indians in 73 cities and 65 rural locations across the country in 16 million square toes of retail space.
Some of the very most popular retail chains of India like Pantaloons (string of fashion destinations), Big Bazaar (hypermarket chain), Food Bazaar (supermarket chain) and Central (string of seamless destination malls) Brand Stock, Planet Sports, ALL, Top 10 10 and Celebrity and Sitara are been able by Future group. India's most popular online shopping portal www. futurebazaar. com is also had by the Future Group.
Home building and home improvement products and services are also led through the group's formats, like the Home Town (large-format home solutions store), Collection i (formats specialized for household furniture and home furnishing) and Furniture Bazaar and consumer electronics through eZone and Electronics Bazaar.
Aadhaar, India's leading rural retailing string has a existence in more than 65 rural locations. It serves as a full solution supplier for the Indian farmer.
Pantaloons Retail India Limited
Pantaloon Retail (India) Limited is one of the leading merchants in India. Mr. Kishore Biyani, is the creator which is famously known as India's "Ruler of Retail". Pantaloon has revolutionized the retail fraternity. With it's headquarter in Mumbai, Pantaloons performs multiple retail forms in value and lifestyle segment. Pantaloons blueprints to increase it's retail space to 30 million sq. foot. by 2011. PRIL is sub-divided into:
Big bazaar
Fashion Station
All
Blue sky
E-zone
Collection 1
Home town
2001 - India's first hypermarket string - Big bazaar is launched
2002 - Food bazaar, a supermarket string is launched
2006 - Future group's financial arm, Future capital holdings launches two real estate funds
Pantaloons
"High fashion" family division, aimed toward Indian middle and upper classes. In 2005, pantaloons rolled out a new items and brand communication advertising campaign to position itself as fashion trendsetter charm to India's youth.
Central Mall
It is positioned as a location for shopping, eat and enjoying.
Big Bazaar
Big Bazaar hypermarket concept was were only available in 2007 by PRIL. It had been designed to incorporate elements of an Indian bazaar with recent retailing features like parking of vehicles, AC shopping environment and privilege of updating merchandise.
Food Bazaar
The first wall socket of Food Bazaar opened in June 2002, within a Big Bazaar store, six month later the chain had cultivated to 42 outlet stores: 18 standalone.
Future Group's main businesses are :
E-commerce
Futurebazaar. com, Pantaloons website has changed the e-commerce business in India. A wide range of products are created offered by affordable prices. PC World has known as the web site as the very best Indian Website for 2007 in the Shopping category.
Food
In the meals section, a great deal of options are available like -
Food Bazaar - String of large ultra markets
Brew Bar - From the beer bar
Cafe Bollywood -It's a eateries string which is PAN India
Chamosa - Snack counter
Sports Bar - A Bistro which is focused on the athletics world
Fashion
Varieties of options can be purchased in this section like Top 10, Central, Blue Sky, Etam, Fashion Train station, Gini, Jony, Navaras and everything.
Furniture store called Collection i
Electronic goods and devices store called Electronics Bazaar
Electronics Items store called e-zone
Home furniture store called Furniture Bazaar
One destination for all home needs called Home Town
A family entertainment middle called Bowling Co.
A store offering game playing options from bowling, pool, video games to bumper vehicles called F 123
Health Community - From the yoga centre as well a spa
Star & Sitara: A beauty salon for men and women
Tulsi - Allopathic, homeopathic and ayurvedic medicinal products are provided
Turmeric - Beauty products like colour makeup, fragrances, organic and specialty skin items, wild hair products and shower accessories are offered.
Depot - It includes stationary, CD's and catalogs
Major Achievements of Pantaloon Retail
2007 - International Shop of the Year
2007 - Growing market Dealer of the Year
2007 - According to Hewitt Best Employers Study - Best Employers in India (Rank 14th)
2006 - Best Managed Company in India (Mid-cap) for the year
2006 - Image Retail Prizes for Best Value SHOP, Best Retail Vacation spot, and Best Food & SUPERMARKET.
Retail Black Gap Model
The Black hole model is also known as The Retail EST Model. It had been produced by J. C Williams Group. Corresponding to this model a dealer can earn if he is the best in one of the number of retail offerings i. e to say that the company is clearly situated in one or more preferred locations to get and therefore they will be the tactical differentiators. The losers gravitate to central position, aren't best at anything and are sucked in to the black gap of retailing
"We have a store opening nearly every fortnight; I have lost matter now of how many I've opened"
Kishore Biyani
Big Bazaar - A paradigm move to the present day Retail
Big Bazaar is a device of Pantaloon Retail (India) Ltd and caters to the Great Indian MIDDLE INCOME. It is as an Indian bazaar or mandi or mela, the surroundings created by merchants to give purchasers a feeling of point in time. The personality of big bazaar is one associated with an entity being authentically "no-frills". The personality of the brand is self portrayed by its tagline -
'Is se sasta aur accha kahin nahi'
It sells a variety of merchandise at affordable rates, the prices which it statements are lowest in the city. Usually the things are clubbed alongside one another for offers as on the lines of Wal-Mart and Carrefour, offer weekend savings and works on a single economy model as Wal-Mart and has substantial success in many Indian places and small cities.
Food Bazaar format was added as Shop-In-Shop within Big Bazaar in the year 2002. Big Bazaar and Food Bazaar blend the appearance, feel and touch of Indian Bazaar with modern retail concepts of choice, convenience and quality.
PRODUCT MIX
TARGET AUDIENCE
Higher and higher middle income customers will be the target portion of Big bazaar.
Another preferred customer segment is the young and growing society of the united states.
Big bazaar mostly targets the ladies folk and home creators who they feel will be the primary decision creators.
CORE COMPETENCIES
Product range consisting of more than 20, 000 products.
Has a strong supply chain spanning 1000 five hundred cities and cities in India.
Big bazaar has tie ups with world leaders in logistical services.
Big bazaar has generated a helpline for solving the inquiries of customers.
Offers manufacturer's assurance as opposed to seller's warrant.
Good quality at fair cost.
STRATEGIES:
Minimize retailing cost.
Minimize operating expenses by using fewer floor personnel -solitary person for each and every 500 sq feet.
Keep furniture cost to least.
Cut down expenses related to sourcing by almost 25-30%.
Increasing the overall efficiency of logistics by creating mother-hubs all across India for the intended purpose of sourcing products from regional/local sellers.
Slashing channel cost by up to 25%.
Economizing Shelf Space
Dealing with unsold stock in a highly effective manner.
Ensuring enough move to snatch away customers from the neighbourhood.
Introducing the concept of 'today's price' wherein a products is chosen on a regular basis and sold at less than common price.
Big Bazaar's New Marketing Strategy: A new marketing strategy, based on guerrilla marketing has been launched by big bazaar. The guerrilla drive is split into small categories to selectively attack the mark at its weak points. As a part of this strategy Future group has produce three catchy and cocky advertisement campaigns.
Keep West-a-Side. Make a good choice!
Shoppers! Stop. Make a good choice!
Change YOUR LIFE STYLE. Make a good choice!
STRATEGIC ANALYSIS
SWOT examination of Big Bazaar
PEST ANALYSIS
Political and Legal Factors:
A stable federal government at the centre creates an motivating investment climate
Problems of getting subsidy from Octrai and on different fees like land, water taxes
A simpler taxation structure(GST) coming.
Problems regarding taking over properties and real real estate.
Easing limitations on FDI by the government resulting in easier transfer of international consumer goods, in so doing getting variety to the Indian market place.
Economical:
India is one of the fastest growing economies, next only to China (7-7. 5% GDP expansion rate).
Retail Industry to increase leaps and bounds by 2015 because of the consumption driven market of the united states.
Increase in the percentage contribution of the service sector to GDP.
Increased focus on infrastructural growth in the current 5 yr plan will help reduce some of the bottlenecks in the retail section.
Socio-Cultural Factors:
Increase in Nuclear families
Increase in working women's proposition
Life style changes
Shift in Product and service preferences
Increase in Young people giving the country a demographic advantage
Technological:
Technological development for fast billing and the service
Better applications of it in the modern retail industry, like in supply chain management, store management, point of deal and customer romantic relationship management
Porter's Five Causes Model
7 P Examination of Big Bazaar
Product
There is a variety of products on offer at Big-bazaar, which range from apparels, food, farm products, furniture, child health care, gadgets, etc. Products of all the major brands can be found at Big Bazaar. A whole lot of in house brands (private brands) are also marketed by Big Bazaar.
Price
The tag-line of Big Bazaar is "Is se sasta aur accha aur kahin nahi". The model on which Big bazaar works is one of 'economies of range'. "Maximum Market Show" (market penetration pricing) is the major aim of rates at Big bazaar.
Place
Big-bazaar has a skillet India presence with more than seventy-five shops propagate across fifty metropolitan areas. Big Bazaar has presence in almost all the major Indian cities. Kishore Biyani is very hostile when it comes to expansion plans of Big bazaar. As per Biyani, the expense of real house should preferably be significantly less than 5% of total sales of store if one wishes to provide obtain the most to customers. Securing spots before other sellers join in is a strategic decision of Big bazaar which includes resulted in cost-saving.
Promotion
Many novel cross sell and upsell strategies have been produced by Big bazaar in Indian retail market. Big Bazaar uses various promotional techniques such as "saal ke sabse saste teenager din", Future card, Shakti cards, using M. S. Dhoni as brand ambassador, Exchange offers such as 'rubbish swap' offer, POP campaigns.
Print media, TV, Radio (FM) and road-side bill-boards are some of the many means employed by Big bazaar for advertizing and effective communication.
People
People are considered to be one of the main element assets in virtually any corporation and their importance is even more serious in the service sector. Big bazaar's personnel offers some salient features such as: -
The staff is well trained for modern retail.
Innovative thinking among the list of employees is urged at Big bazaar.
Multiple repayment counters, option of store's staff for keeping baggage and presence of security safeguard at every gate.
Process
Some of the salient features of dispatch and purchasing area of goods include : -
Trolleys are available for carrying purchased items & sufficient nos of counters for easy check-out can be found.
Information hoardings/banners for successful id of items at store
Physical Evidence
It deals with the final deliverable or the display of written facts.
The personnel has standardized dress code to enhance the overall look of the store (atmospherics).
FINANCIAL Research of PRIL -
PRIL Profit and Reduction Statement
Interpretation -
Total profits have constantly been on the rise. This is partly because of the increasing sales resulting from aggressive expansion plans (opening up of shops) of PRIL.
PAT in addition has been on constant rise though it includes flattened a lttle bit in recent years probably due to raised operating costs, failure to copy the increased expense to the client etc.
EPS has also been on a reliable rise aside from an individual occasion in 2007 when it transpired. The reason is actually a rights issue or other similar action leading to equity dilution.
The come back on capital employed has been reducing YoY. This may because of concern for the business.
The debt equity ratio is not too volatile and has always been below 2 which can be an indication of sound financial status of the company.
Aggressive Marketing: Promotions
The promotional activity of the company, which says 'No person Sells Cheaper and Better!' has differentiated Big-Bazaar (as a brand) in the brains of the client. Imagination of the consumers are tapped through catchy & simple punch lines. As your competition is becoming stiff on the market the activities conducted by the company are unique, which may have brought fruitful result to the company. Included in this sales Promotions is one of the leading activity or unique among all the activities & has high affect on the customer walk-in.
As sales promotions is the major push for Big-Bazaar, Big Bazaar take it very seriously & especially during festivals & special occasions by focussing aggressively on internal & emotional campaign strategies as per the demographic profile of the many consumers.
During Festivals, the shopping for garments, home-furnishings & consumers durables as well as others is just about 60 to 70 percent. During festivals, especially in between Sept & Nov, the shopping percentage is just about 40 to 50 percent.
According to Ashni Biyani, 23, a team is set up 6-A few months ago comprising psychologists, philosophers and experts for Indian culture, religious beliefs, mythology, mentality, also for times & specific retail which can be "targeted very seriously" 1/3rd of the one-fifty value & ethnic days as per the calendar (Hindu).
Shopping behavior as per the Indian communities is cleverly & minutely seen and tracked. They focus to understand intuitively, their traditions, their rituals, In order to attract and tap the part of India which lives in the profound rooted communities, this is the area of the major technique to involve & participate customers.
Sabse Saste 3 Din:
The best branding change that Big Bazaar released was the release of "Sabse Sasta Din" (Jan'05), especially through the Indian Republic trip, the consumers were pulled towards the Big Bazaar stores across the nation to make entice to let them buy the home items at really cheap prices, thus differentiating itself and sticking with the brand image of the Big-Bazaar.
Long queues were observed in the Big-Bazaar store across land and were witnessed to be struggling vigorously over in store items.
Big Bazaar like last a long time, it seduced & involved huge crowds during its 3 day sales event named as "Sabse Saste 3 Din" as a special event for the Republic Day. With regards to the results, the event is sometimes expanded to 5-6 days and nights as it happened in 2008.
The special event for celebrations as an promotional event being organised by Big Bazaar has presumed to obtain great significance over many years & is likely to do so in the foreseeable future too.
Huge & big discounts and offers on the number of products are offered/provided to the customers in the collaboration with the distributors of the other retail chain's, of these occasions.
These sales happenings of Big Bazaar are possibly the biggest sales event organised by any retailer in India. Big Bazaar, which sold goods value Rs 140 crores in 2007, garnered income of over Rs. 280 crores during the season 2008 & the growth still remains unexpectedly.
As pointed out by Kishore Biyani, the complete emphasis is "low margins & pushing volumes" aggressively of these times which will make the Big-Bazaar adhere to its primary Brand-Personality.
Wednesday and Weekend Bazaar:
One of the most popular events Thursday Bazaar presents marvelous offers and irresistible discounts on most the merchandise.
The Notion was to target at providing the homemakers the energy to save lots of the most on this day of the week.
Even on weekends when the footfall is the best, eye-catching discounts and offers are marketed. The weekend marketing promotions differentiated from the Wed bazaar in terms of the offers & cross-selling and not on reducing the price tag on a particular product.
This way they were able to distinguish both the concepts & concentrate on avoiding distress while promoting it to the consumers and also entice different kind of consumers of these durations.
Special event marketing promotions:
Maha Bachat Sale: Big Bazaar's incorporates such as on Independence day insurance agencies Maha Bachat Sale which did a small business of just one 1. 5 crores in its Bangalore store by itself. Maha Bachat focuses on further reducing the price when compared with the Wed Bazaar.
Also on auspicious events such as Akshaya Tritiya which again did a business of 150Cr on a single day in Mumbai & Ahmedabad last year.
An event offering special discounts, benefits and privileges' to older persons were created and promoted on the OLDER PERSONS Day.
Monthly Bachat Bazaar: Big Bazaar understands clearly the behaviors of Indian consumers. In Monthly Bachat Bazaar the prices are reduced at the start of every month to be able to target those consumers who mass purchase the products and especially the goods on a monthly basis.
Price Challenge Plan:
Reinforcing Big Bazaar's USP of value proposition, "Is se sasta aur accha kahin nahi" design premiered. The challenges assure to offer twice the purchase price difference, if the cost of the item within the store is found to be greater than the market price.
This doesn't imply that the consumer actually go to other shops in order to compare the prices, but because of this obstacle of Big-Bazaar, the consumers acquired more faith & trust on the Big-Bazaar and hence were confident experiencing the confidence degree of Big-Bazaar which again built a strong brand differentiation of Big-Bazaar for low pricing.
Exchange Offers:
This promotion primarily focused on permitting people disposing off their junk and gain something from it in exchange i. e. "Bring anything old & take anything new". They could exchange their products and shop from an enormous spectral range of discounted products.
This gave the drive factor to consumers to give their old belongings for something worth & hence their old is not getting misuse or is unvalued. Because the Indian consumers are very much value mindful, this strategy determined perfectly. Big-Bazaar also managed to get sure that the campaign is really not fooling the consumers around and is really giving the desired value focusing on the fact that "faith thrashed is never retrieved" in India.
In- Store Marketing communications:
To ensure that nobody misses out on an chance to gain from special offers, service guys ferry around a trolley with the merchandise inside, announcing the program. Not merely is this entertaining it also helps customers pick up the merchandise from the trolley rather than walking up to the rack where it is on screen.
Language Customization:
To make sure that non-English speaking customers don't feel alienated, the communication is also conducted in the local dialect. The communication is usually unambiguous and direct.
The Power of One Campaign:
This initiative promotes customers to add One Rupee with their charge towards donation to a communal cause. Big Bazaar makes the same contribution and donates the complete proceeds to an NGO called Save the kids India. That is a selfless body which includes been working for the welfare of children from marginalized sections of society.
Corporate marketing campaign:
Big Bazaar has launched a corporate advertising campaign which revolves around a family having a great time jointly. The brand anthem "Khushiyon se Bhari Jholi" connects with the clients at an emotional level setting Big Bazaar as part of the happy occasions.
Future Cards:
Specifically for Big Bazaar outlet stores these credit-cum-loyalty card which offer customers a slew of special discounts and benefits across Future Group stores are co-branded with ICICI Bank. Customers get four loyalty details for every Rs 100 put in at Future group's shops and one loyalty point for each Rs 200 spent outside the group's shops. This creates a vicious routine for the customers to duplicate their purchases and is particularly done by the consumers during special occasions.
School Jao Khushi Khushi
Providing Discounts College related requirements & accessories like school bags, water bottles, lunchboxes, shoes etc.
Promotions include:
Pencil Case for purchase of above Rs 500.
- Free shopping trip value Rs 1000/- for Mailing ones experience of the "Best day you had in college" - the most funny & the best you are selected as successful and also to avail the offer.
- Lucky get for the blessed kids - look for Rs 1, 000 & above, drop in your children name into the drop package - 10 lucky kids were provided with the offer 30% off with an NIIT course
- Motivational offer for Kids: Look for Rs 500 or above, Parents are informed to drop in the kids painting, the best painting is sponsored for an art course.
"Doston ke saath khushiyon manao"
Individual are invited with friends - "more the merrier" - shopping with 1 friend entitles the individual with 10% discount, approaching with two friends - get 20% discount etc on the full total bill.
Friendship band to every walk-in
A friend indeed -people were advised to drop their best friends name in the drop-box and in lucky draw the winner could win the major prize - AN AUTOMOBILE!!
Special treatment & emotional connect for the average person & his/her friend -free therapeutic massage, tattoos, horoscope etc were provided for buys above Rs 500/- & above through the friendship day.
Diwali Dhamaka:
This plan especially remains open for longer duration
Huge discounts have emerged on the board
If purchase is above Rs 300/- two pairs of diya were provided to the customers
Tie up with known mithaiwala: if one acquisitions above 1000/- people can avail special discounts of 45% or above on the mithai purchased from that mithaiwala.
Motivating the house made mithai recepies: Purchasing goods worthy of Rs 500 & above, females were drawn to send the recipe of their solution mithai & the best judged menu gets a complete set of Sanjeev Kapoor's cook-books
Diwali Manao Abroad - winning through lucky get on purchases value Rs 1, 000 or above.
Christmas Delight:
Across the mother board discounts.
Big Bazaar's special delight Christmas present on purchase of over Rs 1000/- or above.
Christmas-Card Design Competition: Design next year's Xmas greeting card for children and a present voucher worthy of Rs. 500 received to the best greeting card winner.
Big Bazaar Christmas get together focussing on details & vouchers through festival focussed games.
Happy-Hours:
All the special discounts/offers were hiked up in a set hr of a day eg: Buy X and get Rs 10 off on that day can be Rs 15 off.
Mystery-Shopper:
Everyday, one person is tagged as the puzzle shopper i. e. a) 100th person walking through the entranceway using all red b) 1st person walking through the door putting on all red - These person has got the discount of 50% on the total bill.
"Apke kismat mein hai khushi": Lucky is happy
Based on nothing card
Get all of that you pick in 60 seconds till reaching the billing counter
Assured surprise for the majority takers:
Choose a present from the outlined items if the expenses is above 1000/-
This is used especially to press the non-moving goods which is usually put in the outlined free gift items.
"Banto khushiyan har ek ke sang": Public causes
"Khilone se khushi bate"
Toy drop package was occur the big-bazaar store and the idea was promoted to require the toys and games from the households & then your toys were delivered to the interpersonal organisations working for underprivileged children's.
This has helped the underprivileged, generate goodwill, and also have also attracted the floor traffic to store at the top scale.
Supporting a charity
Support through charity: Donation to the charity on the individual's name for purchasing above a specified amount.
Customers received an ornament with his or her name onto it to hang signifying the donation by the individual.
Advertisements:
Advertising for Big-Bazaar can be an essential component of brand building.
The advertisement concentrating on brand building of Big-Bazaar is performed through other ways, Some of the techniques applied are: -
Tag Collection: One of the key the different parts of Big Bazaar is its Tag Lines.
Designed based on the demographic account of customers to be able to get linked easily with simple one-liners. The capture liners includes "Chane ke bhaw kaaju", "Stall ke bhaw balcony" etc.
Holistic Advertising campaign: Helps bring about the brand and creates consciousness 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 promoted through Television, road-shows and also began actuality show typed promotional marketing campaign "THE TOP Bazaar Challenge" Deals like "Sabse Sasta Din" is very successful strategy to get footfall.
Print-Ads: Right before the unveiling of any new strategies Big-Bazaar spends closely on advertisements in print media especially magazines.
This is done in order to make a excitement about the big-bazaar brand & its forthcoming schemes.
TV-Ads: various programs are used properly, also as per the demographics & ethnic programs & the plans, promotions & especially the normal brand tag-line is aired in order to make the surface of the mind awareness
Road side Adverts: As a brand building exercise, big-bazaar exhibits bill-boards in prime locations as per the target people. Target is more on the phrases which is targeted to the needs of the customers as per the market & conditions at that one point of energy.
Radio-Ads: The major emphasis through radio advertisements is Tier-1&2 cities. Along with the prime emphasis is given on radio advertising for promotions in order to see customers for all your new happenings & techniques at Big-Bazaar.
Fashion-Shows: The most recent technology of the Indian iconic brand is "FASHION @ BIG BAZAAR - Desh Badla, Bhesh Badlo". In order to make an effort to consider the Fashion to the people, a three-day fashion show was sorted out by Big-Bazaar on the roads of Bandra, Mumbai.
Brand Endorsement by Super star:
For advertising its brand name, value endorsement co-branding is used by Big Bazaar. Previously Himesh Reshammiya & Sanath Jaisuriya was associated with Big-Bazaar.
Also, recently the current campaigns are being associated & marketed with the Indian cricket ODI captain Mahendra Singh Dhoni.
Communication through Marketing:
Heavy spending is carried out for proper position of Big Bazaar through the different mediums. Paper advertisements are released right before the introduction of any new system, billboards are exhibited on leading locations, repeated TVCs are shown in prime time in various Indian programs for the mass, advertisements on FM stations about the existing happenings are shown etc.
Below the Line Promotion:
Coupon, discount, more of the merchandise at normal price, gift with purchase, competition, and prizes, money back offer, exchange offer, special event.
Big Bazaar, in colaboration with Star India Pvt Ltd, has launched a assortment of designer cultural wear under the brand "Star Parivaar".
Above the Lines Promotion:
Advertisements in Newspapers, Television set, Internet (own website which give online shopping service),
Partnership with Bigfilx, Big FM 92. 7.
Aggressive Charges Strategy
The tag-line is "Is se Sasta aur accha aur kahin nahi" make Big-Bazaar to identify itself from opponents in conditions of only pricing & the worthiness at that price. Hence it makes it very important for the Big-Bazaar to always focus on the its costing strategies to keep the prices always low set alongside the competitors whatever the market, current economic climate or the external conditions is.
They focus on the model of economics of scale. There pricing aim is to get "Maximum Market Share".
The various costing techniques used at Big Bazaar are: -
EDLP - Every Day Low Pricing:
Big-Bazaar as a brand is differentiated through low prices strategies. Hence it assures & delivers the cheapest available price without stressing on coupon clipping, discount promotions waiting time, or comparability shopping.
Promotional-Pricing:
Low interest financing has been provided by Big-Bazaar. Internal discounting (Rs. 99, Rs. 49, etc. ) strategy is employed as a promotional tool. Special Event pricing (Near Diwali, Gudi Padva, and Durga Pooja) is also the primary focus of big-bazaar for the reasons mentioned in the previous topic.
Value-Pricing:
Big-Bazaar sets selling prices on the perceived value to the client, alternatively than on the real cost of the merchandise, the marketplace price, challengers' prices, or the historical price.
Differentiated Costs:
Also termed as Time charges, i. e. difference in rate based on top and non-peak hours or days and nights of shopping. This again as a costing technique is utilized in Indian retail, & hence aggressively employed by Big Bazaar.
Psychological Charges:
In order to attract status-conscious customers and to push status-consciousness on the list of middle-class people, mental pricing principle was carried out by Big-Bazaar which provided the best offer in the market for the products that happen to be market-buzz-creators and highly engaging & long-lasting products such as LCD Tv sets, WASHERS etc.
Bundling:
In order to include more value & provide more advantages to the customers, combo-packs with heavy discount rates are offered to the clients.
In order to market the pricing differentiation & to get faith from their customers and hence to increase loyalty, Price challenge plan was established as discussed in the last topic.
