Big Bazaar Essay Sample
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Big Bazaar Essay Sample
Big bazaar is the largest hypermarket chain in India. Big Bazaar is owned by Future group. Future group is led by Mr Kishore Biyani. Big Bazaar was started in 2001. Big bazaar has total 292 stores in 93 cities,60 rural locations, 22 central stores and over 170,000 products under one store fulfilling the demands of consumer. Present format includes Big Bazaar, Food Bazaar, e-zone, Home town, Central, Aadhar, KB’s Fairprice and futurebazaar.com. Vision of future’s group is “Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner”. Big bazaar serves 300 million customers each year. Over 30,000 suppliers supply their product and services to them. Around 35000 people are employed with them. Big bazaar is ranked among the top 3 services by Nielsen Company. Their strategy is based on understanding Indian customer, the product which they want and making these products available in every city. Their retail stores reflect typical Indian bazaar. They claim to offer best products at best prices. Target Customers:-
Big bazaar targets customers who belong to price conscious middle class and even lower class customers. Their focus is on young working population and women both working and housewives. Product Range:-
They offer products from apparels, food, farm products, furniture, child care, toys, etc. of various brands like Levis, Allen Solly, HUL, P&G, ITC, Samsung, Nokia, HP etc. They have in-house brands like DJ & C, Tasty Treat, Clean Mate, Sensei, Care Mate, Koryo and 44 other brands. Section: – Apparels
Tee shirts and Denim, Fabrics, Formal, Casual and Party wear, accessories, undergarments, night wear, sarees Section:-Food
Staples, ready to eat, international food, spices, tea and coffee, Foreign food products Section:-Farm Produce
Fruits, Vegetables, imported fruits, dairy product
Soft drinks, Juices, milk items, Frozen food like frozen chicken, cheese, Kabab etc. Section:-Home and personal care
Shampoos, detergent, soaps, creams, deodorant, home cleaner, utensils,
crockery, Plastic etc. Pricing Strategy:-
EDLP (Everyday low pricing)
Online shopping:- Big bazaar has official site called futurebazaar.com Discounts:- Haftein ka sabse sastaa din was firstly introduced by Big bazaarin which discounts were offered on Wednesday Security checks:- Electronic article surveillance system
The Big bazaar stores has 3 different formats-
Hypermarket with 40,000 to 50,000 sq ft.
Express centre over 15000 to 20000 sq ft.
Super centres with 1 lakh sq ft.
Big bazaar opens stores in developing areas before real estate prices become high Rentals:-
Big bazaar pays a rental of about 35-40 INR per sq ft. in cities and 20-22 INR per sq ft. in Tier-II cities.
Saal ke sabse saste 3 din‖
Hafte ka sabse sasta din ―Wednesday bazaar‖
Exchange Offers ―Junk swap offer‖
Future card(3% discount)
Shakti card is a credit card offered to non-earning women
Advertisement (print ad, TV ad, radio)
Brand endorsement by M.S Dhoni and Asin, Sakshi Tanwar and Shikhar dhawan Big Bazaar PROFIT CLUB- pay Rs. 10,000 and can shop for Rs. 1000 per month for 12 months Ties:-
Big Bazaar profit club
The concept of big bazaar resulted after the study undertaken by Kishore biyani and his team in 2001. This team the consumer behaviour in already established store in south like sarvana stores in Chennai. The task of getting information about each market before entry was given to Consumer diversity cell. Only 70 % of the product mix of big bazaar is uniform across the nation. Remaining 30% is decided on the shop floor by observing consumers and understanding their specific needs. Their insights are collected bys store staff and store manager and then pass to decision makers. Strategic planning has 3 main components- business plan, annual budgeting and balance scorecards. Business plan:-
Business plan provides a yearly plan for review. Business plan have 3 year of strategic horizon. Targets are broken down in to yearly benchmarks which are further subdivided in to quarter goals. These goals are incorporated in to balance scorecards. Balance scorecards:-
Scorecards are tactical tools of strategy planning. Balance scorecards have 4 elements-financial targets, customer targets, internal process targets and learning and growth targets. Balanced scorecards are designed by balance scorecard cell (BSC). Then after designing , reviews of balance scorecards takes place