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RETAIL (INDIA) LTD
Prepared by : - SAVALIYA MAHESH D.
Roll No. : - 22
Seat no. : -
Academic Year : -2007-08
Class : -T.Y.B.B.A.
-: Topic :- BRAND EQUITY
-: Guided by : -
Prof.Parul gangani
-: Collage :-
Geetanjali College of computer science & commerce.
Rajkot
-: Submitted To : -
Saurashtra University, Rajkot.
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DECLARATION I the undersigned Mr. Savaliya Mahesh D a student of T.Y
B.B.A. hereby declare that the project work presented in this report is my own work and has been prepared by me. It has been carried out under the supervision of Prof. Parul Gangani of Geetanjali college of computer science&commerce
This work has not been previously submitted to any other university for any other examination.
Place: Rajkot
Date:
Signature
Savaliya Mahesh D.
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PREFACE
Quietly but swiftly, small towns in India are turning out to be a marketer's dream come true. Consumerism is booming in small towns across; from mobile phones to cars; from credit cards to home loans; form refrigerators and washing machines to home computers for a welter of consumer products, increasingly the market that matters is Small Towns of India.
A growing breed of middle class consumers in 40 small towns is splurging on branded apparel, fashion jewellery, stylish and other durables and non durable like never before. And savvy marketers have been quick to spot the opportunity: everyone from upscale global brands to their forged-in-India cousins is now rushing to get a piece of that action.
Kishor Biyani has crafted a vibrant retails story with his
shopping mall ‘PANTALOONS’ in a small town called Rajkot, relishing lifestyle with beautiful timepieces.
As a part of my final academics in BBA it is compulsory to undertake industrial training in a recognized institution.
I have selected "PANTALOONS" offering wide variety of apparels and styling accessories and have also under taken survey on "Consumer attitude towards branded and non branded products".
It has made me learn great facts and such information as to the situations prevailing in reality at the conclusion of training
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ACKNOWLEDGEMENT
It is my pleasure to have an opportunity to show my gratitude towards all those who have helped me in the successful preparation of this project report.
My first gratitude moves towards the Manager of Pantaloons Mr. Vibhay sharma who has kindly helped me and supported me in collecting the information required for my project
Secondly, I would like to thank all the professors of my college especially Prof. Parul Gangani who have always been keen to guide me to frame this report successfully.
And last but not the least; I grab the opportunity of thanking all the respondents who contributed their time in filling up the questionnaire and my family members and friends and all other who have helped me directly or indirectly in the successful completion of my project.
Place: Rajkot Date:
(Savaliya Mahesh D)
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LOGO OF THE PANTALOONS
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INDEX
SR.NO. PARTICULARS PAGE.NO1 PANTALOONS AN OVERVIEW 82 CURRENT SCENERIO 93 WHAT IS PANTALOONS 114 STORE PROFILE 125 A TAKE OFF 146 NEW CONCEPT 157 BRANDING INTRODUCTION 178 BRAND PROFILE 189 CONTRIBUTION IN EVERY CATEGORY 1910 PREFERENCE OF BRAND PRODUCT 2311 WHAT IS BRAND 2412 BRAND POSITIONING 2513 BRAND EQUITY 2714 BRAND EQUITY TOOLS 2815 MANAGING BRAND EQUITY 3016 BRAND BUILDING TOOLS 3117 ADVANTAGIES OF BRANDING 3418 BRAND REPORT CARD 3519 MAJOR PROMOTIONAL ACTIVITY 3720 STEPS UNDER TAKE TO INCREASE
THE MARKET SHARE40
21 CORE COMPENTANCES 4122 ADVERTISING METHODOLOGY 4423 BRAND ASSETS MANAGEMENT 4524 CONSUMER ATTITUD DRIFT 4725 RESEARCH METHODOLOGY 4926 SCOPE OF STUDY 5027 SAMPLE SIZE 5128 SAMPLING METHOD 5229 DATA COLLECTION METHOD 53
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30 ANALYSIS AND INTERPRETATION 5431 QUESTIONNAIR 5532 SWOT ANALYSIS 7933 CONCLUSION 8134 SUGGESTION 8235 FUTURE PLAN 8336 BIBLIOGRAPHY 84
PAGE 7
PANTALOONS AN OVERVIEW
History
1987 - Company incorporated as Manz Wear Private Limited. Launch of Pantaloons trouser, India’s first formal trouser brand
1991 - Launch of BARE, the Indian jeans brand.
1992 - Initial public offer (IPO) was made in the month of May
1994 - The Pantaloon Shoppe – exclusive menswear store in franchisee format launched across the nation. The company starts the distribution of branded garments through multi-brand retail outlets across the nation
1995 - John Miller –Formal shirt brand launched
1997 - Pantaloons – India’s family store launched in Kolkata
2001 - Big Bazaar, ‘Is se sasta aur accha kahi nahin’ - India’s first hypermarket chain launched
2002 - Food Bazaar, the supermarket chain is launched
2004 - Central – ‘Shop, Eat, Celebrate In The Heart Of Our City’ - India’s first seamless mall is launched in Bangalore.
2005 - Fashion Station - the popular fashion chain is launched
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2006 - Future Capital Holdings, the company’s financial arm launches real estate funds Kshitij and Horizon and private equity fund Indivision.
CURRENT SCENERIO
Fashion is all about the now. Why, then should people not see a fresh look every time they walk into a Pantaloons store? That is the thought behind 'Fresh Fashion'. An idea that has captured the imagination of young India. With a focus on the youth of today, Pantaloons offers trendy and hip fashion that defines the hopes and aspirations of this demography.
Pantaloons Fresh Fashion stands out as a fashion trendsetter, on the lines of how fashion is followed internationally. The ‘look’ and ‘what’s in’ today for the season is sacrosanct.
Pantaloons takes its promise of 'fresh fashion' very seriously making available to its customers the latest in fashion every week!
All Pantaloons stores reflect the new ideology -- Fresh Feeling, Fresh Attitude, Fresh Fashion. The stores offer fresh collections and are visually stimulating thanks to appealing interiors and attractive product display!
The first Pantaloons was opened in Gariahat in 1997. Over the years, it has undergone several transitions. When it was first launched, this store mostly sold external brands. Gradually, it started retailing a mix of external brands while at the same time introduced its own private brands. Initially positioned as a family store, it finally veered towards becoming a fashion store with an emphasis on 'youth' and clear focus on ‘fresh fashion’.
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Today, the fashion store extends to almost all the major cities across the country. Pantaloons has established its presence with stores not just in the metros, but also in smaller towns.
Pantaloons stores have a wide variety of categories like casualwear, ethnicwear, formalwear, partywear and sportswear for Men, Women and Kids.
The garment section eaters to the need of men, women and children and for every occasion formal casual office wears and sports. It also offers top class collection in watches and fragrances. The jewellery and accessories section ensure a complete look to go hand in hand with the garment purchase. Designer level by in house designers. They design men’s and ladies’ apparels like Ghaghara Cholis, Western Outfits, Men’s traditional wear like Sherwani etc.
It has molded itself into a one stop store for the community of Indian Catering to all segments the rich the not so rich pantaloons has a product range to suit every budget.
Hence over a period of 18 months pantaloons has become the single most sought after shopping mall both by consumer and suppliers. Today it houses more than 100 brands such as Terrain, Nike, Adidas, Allen Solly, Parx, Oobe, Tissot, Pierre Balmain, Swatch, Mont Blanc, Titan, Hugo Boss, YSL, David off, Paco Rabbane, D & G, Carolina Harrera, Barbie, Gini and Jony and other International brands.
Never has the city of Rajkot seen such an array of brand names. Never has the customer received such a wide choice in the lifestyle segment as now at pantaloons.
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PAGE 11
WHAT IS PANTALOONS? Indian which has become the hub of Gujarat’s Saurashtra
region which is economically not very diversified has been a city mothering traditional industries like wearing, handloom and handicraft.
Till the early nineties no major retailing happened in Saurashtra. There was no platform that could invite national or international brands. It was at this juncture that pantaloons identified the virgin retail space which began as a small showroom in 1987 and transformed into a mega showroom by 2006 with a total investment of Rs.3236 Cr.
Currently, pantaloons is home to 150 major National and International brands from indigonation Scullers and lhombard to cosmetics brands like Lakme, street wear and Revlon. Location and accessibility are the two prerequisites for the success of any shopping centre.
Build over three storey, the ground floor displays jewellery, purse, perfumes and leather accessories as well as kids’ and ladies’ traditional section. The first section stocks casual wear for women.the second section stock casual wear for men.
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STORE PROFILE
Name pantaloons
Address “pantaloons” 150ft Ring RoadRajkot Gujrat
Phone No. 0281-23322920281-2332293
Head Office Center one Sector 30AOpp.Vashi Railway StationVashi Mumbai – 400705
E-mail [email protected] of establishment 1987
Year of establishment INRajkot 2006
Total investment Rs 3236 Cr.
Total floor area 15000sq. ft.
Manager of Pantaloons InRajkot Vibhay Sharma
Marketing Manager ofPantaloons In Rajkot Riddhi Mame
Managing director Kishor Biyani
CEO of Future retail Rakesh Biyani
General manager Gopikishan Biyani
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Boosting the retail industry through its Endeavour pantaloons has played a key role in changing the face of the city. Being a non-metro and small business centre, it has not only created awareness among consumers but also a sense of appreciation for quality products.
A large number of Non Resident Indians visits pantaloons or ethnic wear in the international environment they are accustomed to adding an element of variety and choice, pantaloons has also enhanced the tastes of the people of Indian.
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A TAKE OFF Clearly a market ruler in the Indian retail space,Pantaloons’
turnover shot up by 55% last fiscal. Being the only mega place in the whole of, Indian ‘Pantaloons today enjoys almost 30 % market share in branded apparels and over 60% market share in branded Garments and Accessories, with a customer entry of about 600 per day. It attributes a major part of this success story to its ability to maintain customer loyalty.
To hunt larger market the strategy is to maximize the display area in the juncture as to offer more and more varieties to the delight of the customers. The huge offering number of national and international brands has given a great chance to step on to the global scenario giving products matching Hi-Fi standards.
‘Pantaloons’ has been successful in catering the “Brand Need” for the Indian at one-stop-juncture.
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NEW CONCEPTS
Merchandise
‘Pantaloons’ the first lifestyle store in the entire Indian region stays open throughout the day, a departure from 1-4 closed routine that people are used to.”
‘Pantaloons’ has always been innovator and trend setter in this region. Being first in every aspect, ‘PANTALOONS’ self an innovative concept for this region.
Proportionate mix of wanna be citizens of small towns, Saurashtra Region market has always behaved typically. Even though retail industry in this area has observed consistent growth in last three years, it is still difficult to predict growth or acceptance for the new approach or change strategy in this region. Economy of the entire region is mainly based on the agriculture and agro-based products. Monsoon can impact the entire economy. Retail trade is always first to get affected and last to pick up.
It is imperative for the retail business to bring in innovations, changes and approach to achieve success mark. ‘PANTALOONS’ endeavor in introducing new, refreshing concepts and changes. Whether is on ambience or interior designing front; displays or organizing merchandise: promotions or consumer services.
Some of the distinguished innovations are described here under :
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The Ambience
PANTALOONS offer complete ambience to make shopping a pleasure to consumers. The key attributes making complete ambience are:
FACADE: Façade reveals the innovative cosmetic outlook of the structure. Vintage façade attracts every passerby. Whether to shop or to take stroll or to feel, people do get attracted to step in.
INTERIORS: The awesome interiors of the three distinguished section of PANTALOONS makes everyone to feel out of the world. Even regular shoppers in metro-cities gain the same feel. Every section depicts a sense of demarcation towards merchandise catered. The marble surfaced ground floor designed with glass counters are displayed
Display and Decoration
Display of merchandise is organized in such a fashion that each and every style is highlighted prominently. The change of ambience on each and every occasion contributes walk-ins. The major festival or occasions are NAVRATRI, DIWALI, CHRISTMAS, JANAMASHTAMI, INDEPENDENCE DAY, MAKAR SANKRANTI, DHULETI and events like mega sale and other sales.
Innovations in Systems and Service
Pantaloons have adopted best of the systems meeting the set criteria of industry and at par with any mall of big city. Pantaloons
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goes beyond the confined areas to provide extra services to their customers.
PAGE 18
BRANDING INTRODUCTION Brand is a major issue in product strategy. As Russel Hanlin
the CEO of Sunkist Gnowers observed “An orange is an orange…….” Is an orange unless that orange happens to be Sunkist a of 80% of consumer know and trust. Well known brands command a price premium. Japanese companies like Sony and Toyota have built a huge brand loyal market. At the same time developing a branded product requires a great deal of long term investment especially for advertising promotion and packaging.
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BRAND PROFILE The national and international brands had been serving the
metros and sub metros since years. The lack of correct platform has been the main obstacle to enter this territory.
Pantaloons are known for several firsts that revolutionized the retail industry in Rajkot. It was the first retailer to promote key brand and now it endeavors to grow in 2006 which was a great boulevard for the brands and their suppliers to break through the Saurashtra market.
Today the suppliers of Pantaloons and most of the brands take pride of their being in the market at a very high magnitude. They have never made them realize that Rajkot and Saurashtra is yet small to adopt their big brands. Pantaloons stands out to be the first outlet for the segments like garments and perfumes in the region of Indian The recognition from the brands and its suppliers has made quite obvious tha Pantaloon’s contribution in branded apparels and accessories has been utmost of their growth in Indian.
On the other hand the efforts to promote those brands has helped us to grow in the business and simultaneously accelerated the growth of branded apparels, garments, perfumes and accessories industry in this territory.
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CONTRIBUTION IN EVERY CATEGORY
• Branded Men’s Apparels Formal Causal Sports
Pantaloons has been only outlet in Rajkot and the largest amongst others in Saurashtra for the brands
Rig utility clothing Bare leisureSchaller AkkritiIndigo nation AllLombard UmmJone miller Urban yogaUrbana Ajilef- the factors JMsportsLee-Cooper
• Branded Women’s Apparels Formal Casual With a limited market for the ladies formal wear no other retailer indulge their service to cater the segment. The requirement of the formal wear for ladies has been significantly fulfilled at this store. The brands which options provides to its ladies clientele are
Rig utility clothing AkkritiSchaller AjileAnnabelle Urben yogaAll JealousMix and match UmmRang lauch Bare demineTrishaa Honey
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• Men’s Traditional/ Occasional Wears
Akkriti
• Women’s Traditional Wear
Akkriti Trishaa Mix N MatchRang Munch All
• Branded Kids Apparels
Kids zone at options comprises of the most renowed brands which are made available in metros only they are
Gini & Jony Bare7214 lilliput Kid Studio G. J. Jeans Chalk Boys
Today all the suppliers have a great scope to penetrate their brands in this territory
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• Purse
Pantaloons started its purse section with a very limited range of brands. The ample growth in sales encouraged them to immediately expand the section adding more brands.
Today it leads to purse market of Saurashtra and takes pride to be the only of its kind of authorized outlet to promote Swiss brands like
Pick me up Meiww– Just cool
• Perfumes
An extensive counter on the ground floor itself portrays their contribution in promoting this segmentThe international brands includes…
Hugo Boss Nike Adidas
Any customer of Saurashtra who would like to procure such brands officially has only one options called “Options”
• Jewellery
Jazz Ola siaTribal
• Cosmetics body care and bath products
Lakme Revlon Streetwea
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Lotus
PREFERENCE TO BRAND PRODUCT
The following are the priorities given to the brand features according to the customers.
Brand Features Rank
Brand Name 1Color 5Styling 3Pricing 2Fit 4Indian Brands 9Foreign Brands 8Packing 10Fabric 7Salesman’s Recommendation 6
The above given ranks reveals that customers give first preference to BRAND NAME and then pricing and on and on. This shows how imp brand is to all customers, sellers, brand holders.
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WHAT IS BRAND? A brand is a complex symbol that can convey upto 6 level
of meanings
1. Attribute - A brand brings to mind certain attributes which influence the purchasing point decision.
2. Benefits – Attributes must be translated into functional and emotional benefits.
3. Values – The brand also says something about producer values
4. Culture- The brand may represent a certain culture5. Personality – A brand can project a certain personality.6. User – The brand suggests the kinds of customer who buys
or uses the product
“What distinguishes a brand from its unbranded commodity counterparts is the consumers’ perceptions and feelings about the products attributes and how they perform. Ultimately a brand resides in the minds of consumers”
- According to Kevin Keller
Similarly a brand can be well positioned by associating its name with a desirable benefit. At the same time, promoting a brand on only one single benefit can be risky. The strongest brands present more than a rational appeal they back an emotional wallop.
Mare Gobe, The author of “Emotional Branding” argues that successful brands must engage customers on a deeper level touching a universal emotion.
If the brand evolves a strong set of beliefs and values, the company must be careful not to stray from this.
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Hence, Brand could be collectively concluded as a quite difficult task for any company as it is concerned with the company’s image and repo.
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BRAND POSITIONING “Brand” is must more than a name, logo, colors, a tagline or
a symbol. These are marketing tool techniques. A brand is essentially a marketer’s promise to deliver a specific set of features, benefits and services consistently to the buyers. The marketer must establish a mission for the brand and a vision of what the brand must be and do. The marketer must think that he is offering a contract to the customer regarding how the brand will perform. The brand contract must be honest.
“Brands are not built by advertising but by the brand experience.”
A brand idea will not take shape unless everyone in the company lives the brand.The following can be termed as crucial aspects for a firm to position their brands in the new economy.
1. Companies should clarify the corporation’s basic values and build the corporate brand.
2. Companies should use brand managers to carry out the tactical work but the brands ultimate success will depend on everyone in the company accepting and living the brand’s value proposition.
3. Companies need to build up a more comprehensive brand building plan as to create positive customer experiences at every touch point events seminars, news, telephones, e-mails, person to person contact.
4. Companies need to define the brand’s basic essence to be delivered wherever it is sold. Local executives can be varied as long as they deliver the feel of the brand.
5. Companies must use brand value proposition as the key driver of the company’s strategy, operations, services and the product development.
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BRAND EQUITY
Brands vary in the amount of power and value they have in the market place. At one extreme are brands that are not known by most buyers. E.g. in ‘PANTALOONS’ most of the international brands are unknown to the customer. So there is no preference for them. Then there are brands which buyers have fairly high degree of brand awareness e.g. brands like ‘Indigo Nation’ ‘Urbana’, ‘Peter England’ etc,. then there brands that enjoy a high degree of brand that command a high degree of brand loyalty e.g. ‘Levi’s’, ‘Jockey’ ‘Nike’, Reebok, ‘Park Avenue’ etc.
Hence brand equity is defined as the brand assets linked to brands name and symbol that add to a product or service.
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BRAND EQUITY TOOLS Brand Equity Tools
Brand Perceived Brand Brand Awareness Quality Associations Loyalty
Brand Awareness:
It is often undervalued asset awareness has been shown to affect perceptions and even taste. People like to be familiar and are prepared to use all sort of goods that are familiar to them e.g.- people at Pantaloons come to by the well known brands like Revlon, Lakme, Fa etc as there are the brands of which customers are already well aware.
Perceived Quality:
It is a special type of association partly because it influences brand associations in many context partly because it has been empirically shown to affect profitability e.g. people every where have the experience of using brands like Reid and Taylor, Raymond, Vimal etc so they have a specific perceived quality which is to be satisfied by the brand.
Brand Associations:
It can be anything that connects the customer to the brand. It can include the imaginary product attribute, usage situations, organizational associations, brand personality and symbols. Much of brand management involves determining what association to develop and then creating programmers that will link the associations to brands. E.g.
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Highly reputed brands like Scullers, Jone MIller, Lhomebard, Gili etc are
Brand Loyalty:
It’s the heart of any brand value. The concept here is based on the building and strengthening the size of identity of each loyalty segment. A brand with though small but intensely loyal customer base can have significant equity e.g. the brand loyal customers will surely knock at Pantaloons, rendering best of the variety to these valued jems of customers.
Thus equity could be judged by the above stated four tools. The presence of all these will create an efficient brand management system and brand affectivity measure.
The advantages of brand equity are enumerated as follows
1) The company will have more trade leverage in bargaining with distributors and retailers because customers expect them to carry the brand.
2) The company can charge a higher price than its competitors because the brand has higher perceived quality.
3) The company can more easily launch extensions because the brand name carries high credibility.
4) The brand offers the company some defense against price competition.
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MANAGING BRAND EQUITY The brand needs to be carefully managed so that its equity
does not depreciate. This requires maintaining or improving brand awareness, perceived quality and functionality and positive association. These tasks require continuous Research & Development investment, skillful advertising and excellent trade and consumer service.
Some analysts see brand as outlasting a company’s specific products and facilities. They see brands as the company’s major enduring asset. Every powerful brand in reality represents a set of loyal customers. Brand equity is a major contributor to customer equity. The proper focus of marketing planning is to extend customer lifetime value, with brand management serving as a major marketing tool.
Unfortunately, many companies have mismanaged their brands in the quest for ever increasing profits. It is hence easy to lose the focus on brand.
In a nationwide study of company in a wide range of industries only 43% indicated that they even measured brand equity where as 72% were confident enough in their brand equity to project that it would last two years with no financial support and over two thirds of the respondents had no formal long term brand strategy.
Hence, the above stated aspects reveal the significance of brand management. It is important now to build a strong brand in the market for the attainment of core competence. The following are the tools for building brands.
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BRAND BUILDING TOOLS A common misconception is that brands are basically built
by advertising. It is true that television advertising in its early days was the most effective brand building tool. There were very few TV stations and people watched the comedies and dramas and advertisements with almost equal interests
But now the scenario has changed. Now viewers watch one of the dozens of TV station and most of the viewers are zapping or ignoring the commercials. In fact many more are simply not watching TV because they are busy on their computer and engaged in recreational activities. The marketers therefore have to turn down to other tools for attracting attention to there bands. Among them the most important are
Public Relations and Press Releases:
Brand can gain a lot of attention from well placed newspapers and magazine stories not to mention appearing visually in Hollywood films. It is a matter of pride for Pantaloons to have been studied by
Sponsorship:
Brands are frequently promoted in sponsored events such as world famous bicycle and car races Pantaloons has always been keen to grab such sponsorship opportunities and performs it in small / large celebrations in Rajkot. They often sponsor during Navratri.
Clubs and Consumer Communities:
Brands can form the center of consumer community where there is greater awareness and preference of brand.
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Factory Visit:
The companies can invite the visitors to visit their factories to spend a day or two there in as to become aware about quality of management which highly strengthens the brand.
Trade Shows:
These represent a great opportunities to build brand awareness knowledge and interest
Event Marketing:
Many automobile companies make an event out of introducing their new car models Pantaloons have also undertook such efforts while launching, adding newer brands to their large brand offer list.
Public Facilities:
This is one of the consumer responsibility task ‘Consumer Relationship Tasks also help building brand. Many multinationals as well as large companies undertake such efforts to facilitate the society and to help building greater lifestyle.
Social Cause Marketing:
Brand can achieve a following by donating money to charitable causes .
High Value of Money:
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Some brands create positive word of mouth by offering exceptional value for the money. The brand performance matters here at a higher extent e.g. Lux saop and Beauty Aids, Garnier beauty accessories etc.
Founder’s or Celebrity Personality:
A colorful founder or a celebrity personality can create positive affect for the brand here Mr. KIshorbhai who has been a person of great values having firm name in the market stands as a backbone of Pantaloons which assures the support in building brand.
Mobile Phone Marketing:
Customers in future shall hear about brand on their wireless mobile phones as m-commerce grows.
Many of these tools describe efforts to build brand through “BRANDED EXPERIENCES” or “EXPERIENTAL COMMUNICATIONS” terms used by Jack Morton company.
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ADVANTAGES OF BRANDING Q. Why do sellers brand their products when doing so
clearly involves cost?A. Because branding gives several advantages to the seller.
• The brand name makes it easier for the seller to process orders and track down problems.
• The sellers brand name and trademark provide legal protection of unique product features.
• Branding gives the seller the opportunity to attract a loyal and profitable set of customers. Brand loyalty hence gives sellers some protection from competition.
• Branding helps the seller segment markets. The products under one brand could be formulated differently and aimed at specific benefit seeking segments.
• Strong brands help build the corporate image making it easier to launch new brands and gain acceptance by distributors and customers.
Distributors and retailers want brand names because brands make the product easier to handle, hold production to certain quality standards strengthen buyer preferences and make it easier to identify suppliers.
Whereas customers want brand names to help them identify quality differences and shop more efficiently.
The most important thing after incurring expenses on branding are to measure the brands. It shall be seen in the brand report card.
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BRAND REPORT CARD The following interrogative aspect will help the seller to
measure up the brand
1) The brand excels at delivering the benefits consumers truly desire. Do you focus relentlessly on maximizing your customers’ product and service experiences?
2) The brand stays relevant. Are you in touch with your customers’ tastes, current market conditions and trends?
3) The pricing strategy is based on consumers’ perceptions of value. Have you optimized price, cost and quality to meet or exceed customers’ expectations?
4) The brand is properly positioned. Have you established necessary and competitive points of parity with competitors? Have you established desirable and deliverable points of difference?
5) The brand is consistent. Are you sure that your marketing programs are not sending conflicting messages and that they have not done so over time?
6) The brand portfolio and hierarchy makes sense. Can the corporate brand create a seamless umbrella for all the brands in the portfolio? Do you have a brand hierarchy that is well thought out and well understood?
7) The brand makes use of and coordinates a full repertoire of marketing activities to build equity. Have you capitalized on the unique options while ensuring that the meaning of the brand is consistently represented?
8) The brand managers understand what the brand means to consumers. Do you know what customers like and do not like about your brand? Have you created detailed research driven portraits of your target customers?
The above given interrogative aspects help the seller to put forward a strong brand and maintain it at the maximum extent.
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MAJOR PROMOTIONAL ACTIVITIES
Promotional activities are a must for every new as well as established business. These entail great return in form of sales and at times creation of Brand Image.
Promotional activities are till now proven to be the most efficient tools for appreciating sales and attracting more and more customers for trial and repeat purchases.
The attitude of customers depends upon the degree and frequency of promotional activities carried out by the business people. These do insist the customers to look at the product at once.
PANTALOONS, the one-stop shop Juncture of course continuously is indulged into undertaking various promotional activities. The following chart depicts the allocation of funds/making expenses over different tools of promotions:
Advertisements
This is the most crucial part which makes IMAGES of the business in the mind of customers. The commonly used mediums of advertising utilized by PANTALOONS are as follows…
Hoardings
This is the tool used most by PANTALOONS. One can easily view the hoardings of ‘Pantaloons’ offering the locally designed apparels to the international brands.
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The hoardings are displayed on following prominent sites of the city
• Mahila College Chowk• Yagnik Road, Rajkot• Under Bridge• Ring Road• Kalawad Road• Trikonbag
The hoardings have been most utilized effective tools for advertising. The hoardings mostly display the designed apparels as well as branded apparels of international companies which are offered at PANTALOONS.
Print Media
Local/Daily newspapers:This is used generally at the times of festives and at the offering of various schemes. The advertisements are published in the local daily newspapers E.g. GUJRAT SAMACHAR
Local Magazines:This tool is utilized to announce greater value schemes to insist customers to at least visit PANTALOONS E.g. At times in the case of addition of new stocks, newly designed apparels,etc. or other discount coupons.
Regional MagazinesThis tool is explored as to make consumers of surrounding regions, aware about the availability of the peak brands at Rajkot and to drag them towards it.
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Outdoor Advertisement
This is one of the most commonly used tool of advertising. It includes TV advertisements including Cable advertisements, Scrolling lines at the end of the screen.
Sponsorships
This is majorly done while • Navrati• Musical Programmes at Hemu Gadhvi • Educational Progg. • Direct mailers
Other Promotional Tools
The other promotional tools include distribution of brochures, pamphlets, etc.
Call-center activities are also becoming popular those days. Pantaloons also undertook it before a short span of time Eg. While launching new brands of Garments.
Advertising Agencies
‘PANTALOONS’ ADVERTISING IS DEFINITELY BACKED BY ADVERTISING AGENCIES like
• Drishty Communications• Yogi Advertising• Campaign Advertising• Ascent Advertising
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STEPS UNDERTAKEN TO INCREASE THE MARKET SHARE
o Emphasizing over promotional aspects.
o Taking intensive efforts to serve customers.
o Pampering customers’ demands slowly to turn down into benefits.
o Introducing and implementing customer loyalty programmers which are carried out for the benefits of the customers out of store.
o Increase target oriented marketing activities, including direct mailing, call center survey, asking their demand.
o Last march, direct/ door to door moving was done to collect more and more information to know what people know about options and brands.
o Offering schemes, discounts, offers and thereby increasing sales.
o Involving themselves into much more marketing activities to attract people.
o Evaluating shopping moods with ambience and decorations which are synchronized by the festives.
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CORE COMPETENCE Metro type shopping atmosphere right from “Structure” of
the store (fascade).
Ambience (the most different), display oriented having three section . Special feature is that the display system is unique i.e. all the varieties are displayed at a time without packaging in boxes and bags.
Great Varieties in Choices
Offering Certain Services like • Exchange (Conditions Apply)• Delivery Services
• Green Card Scheams
Welcome to Pantaloons Green Card Program.
Your Green Card is your passport to a whole new world of exclusive benefits and privileges.
• Instant discounts* for every time you shop at Pantaloons.
• Exclusive shopping days to get hold of latest merchandise. • Regular updates on collections and promos via catalogues,
sms and email. • Special invites to the most happening events.
Extended exchange periods and complimentary drops for alterations
• Exclusive billing counters and much more.
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*Categories valid for Green Card Discounts:
Apparel, perfumes & cosmetics, toys, Bluesky, aLL, Depot, Planet Sports & accessories. Valid on categories within Pantaloons only.
Also valid at standalone Bluesky and aLL stores.
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1StarMembersGift Voucher worth Rs. 150 on enrolment
3StarMembers 5% discount on every purchase
5StarMembers An exclusive 7.5% discount on every purchase
7StarMembers A whopping 10% discount on every purchase
Unique method of advertising using hoardings and invitation cards.
Location ideally located at Rajkot’s upcoming market, Ring road on a core place, heart of city and most importantly equidistant from all the places.
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ADVERTISING METHODOLOGY
o Determination of festivals during quarters.
o Formulation of schemes to be launched/ announced keeping in view the brands already available.
o Formulating budgets for the quarters keeping in mind the forthcoming festivals.
o Announcement of schemes and creating awareness.
PREPARATION OF BUDGET
Budget is formulated keeping in mind, the aim of the quarter, the last season performance of quarter.
The budget is bifurcated into different quarters and financing is done with the help of advertising agencies and then they execute it and at the end of quarters, the customer care team evaluates the effect of marketing activity productivity.
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BRAND ASSET MANAGEMENT
Customers come to know a brand through a range of contacts and touch points; Personal observation and use, word of mouth, meeting company personnel, telephone experience, seeing the web page, receiving invoices and so on. Although print and broadcast advertising have played a large role in building strong brands, the above mentioned forces are now, playing an important role. Any of these experiences can be positive or negative. The firm must put-in as much quality in managing these experiences as it does in producing its sale.
Companies must balance their communication expenditures among the main communication media. These include the following seven communication vehicles.
• Advertising• Public relations• Trade and sales promotion• Consumer promotions• Direct marketing• Event marketing• Internal employee communications
Companies are increasingly moving their ‘Brand Building Budgets’ to public relations, direct marketing, event marketing and employee training.
One of the most potent influences on brand perception is the experience customers have with the company’s personnel. If the telephone operator is curt, if the order taker is poorly informed, if the accountant will not explain the invoice - the brand image is compromised. Therefore, the company needs to train its people to be customer - centered. Even better, the company should build pride in its employees regarding their products and service so that their enthusiasm will spill over the customers.
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Companies must go further and train and encourage their distributors and dealers to serve their customers well. Poorly trained personnel can ruin the best of efforts made by the company to build a strong brand image.
This suggest that managing Brand Assets can no longer be entrusted to brand managers because they do not have enough power and scope to do all the things that are necessary to build and enhance their brands. Their incentive system drives them to pursue short term results whereas managing brands as assets calls for longer term strategy and more inclusive team work.
Now a days, some companies are putting their branding in the brand s of an entirely different company that can focus on Brand Management and nothing else. Hence, there are bulks of companies managing brands - not owning brands.
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CONSUMER ATTITUDE DRIFT
Brands vary in the amount of power and value they have in the market place. At one extreme are brands that are not known by most buyers. Then there are brands for which buyers have a fairly high degree of BRAND AWARENESS. Then there are brands that enjoy a high degree of brand preference. Finally, there are brand that command a high degree of brand loyalty.
“The firm / company feels rest assured and can boast about their brand management and the sure customer attitude and can be happy after spending high amount on branding when a customer walks in the store and if discovers that the specific brand preferred by him is not available, he walks out”
This is the achievement of brand management the customers are this brand loyal. David Aaker distinguished five levels of a customer attitude towards a brand from lowest to highest.
Customer will change brands especially for price reasons No brand loyalty E.g. – Scullers Trousers are preferred over Rig Utility Clothing due to low price.‘Indigo Nation’ ‘Jone Miller’ jeans are preferred over ‘Levis’ and ‘Numero’ due to price reason.
Customer is satisfied No reason to change the brandThe customers who prefer to use ‘Revlon’, ‘Lakme’, and ‘Garnier’ products are satisfied by its use and so there arises no reason to change over to the another brand though abundantly available.
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Customer is satisfied and would incurr costs by changing brandE.g. a preference / attitude to use more new products / brands is valid reasons for shifting towards another brands though it bears costs.
Customer values the brand and sees it as a friendBrand is the one which is preferred once and joined forever for the brand loyal customers. They choose it at once but use it forever. It is the one brand which is always going to be proffered by the customer. The preference sustainment and shift/drift depends upon the strength of brand or the percept value of brand in the mind of customers.
Strong the brand image in the customer mind, higher the loyalty of that customer.
Customer is devoted to the brandThe one phase comes in the brand lifecycle where it has gained such a position where the customer is fully devoted to the brand. He may incurr higher cost to continue the use of that particular historic brand. This makes him avoid the usage of new launched brands but is very helpful when the firm wants to launch new product under the same brand name.
The most appropriate level of operation is the 5 th and 6th one where BRAND has achieved a sustainable position in the mindset of the customer and brand is in a commanding position to mold the environmental changes in the favor of company / firm.
Brand equity is highly related to how many customers are in classes 3, 4 or 5. It is also related to the degree of brand name recognition, perceived brand quality, strong mental and
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emotional associations and other assets such as patents, trademarks and channel relationships.
RESEARCH METHODOLOGY
Objective of Study
The objective of study is to get further information about the attitude of Rajkot customers towards the Mega Brand offers Pantaloons. How people react to the brand, their preference and willingness to make purchases of branded products. The various factors like affordability, desire of purchasing ‘need’ element for insisting a purchase, attitude towards the mega-store, etc.
The ability of brand managers to put forth their brands before the customers and pampering their demands for branded products is the most important aspect of this study.
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SCOPE OF STUDY
The scope of study was to understand the mindset of especially indian customers to face the internationally popularly branded products. How can they be dragged towards the purchase of branded products?
The scope of study could be enlisted as below:
1. To discover factors persuading and influencing buying decision.
2. To find out their satisfaction level in the accordance with the value paid by them.
3. How do customers prefer one brand over the other?
4. Whether they are aware about and ready for the ‘One Stop Shop’ juncture PANTALOONS and vivid range of branded products offered or not?
5. The reasons for purchase of branded products from PANTALOONS.
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SAMPLE SIZE
This aspect refers to the questionHow many people should be surveyed?
Sample could be defined as “Sample is a group of respondents selected from the whole population under study.” Proper and optimum size of sample should be selected to be a truly representative of population. Because wrong, inadequate or excessive sample misleads whole procedure of study and it is also very difficult to select proper sample size.
I have conducted my survey on “CONSUMER ATTITUDE TOWARDS BANDED AND NON-BRANDED PRODUCTS” with special reference to brands offered at ‘PANTALOONS’, Rajkot and selected 100 respondents which are truly representative for my analysis and the conclusions arrived at by their responses are also reliable.
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SAMPLING METHOD
The sampling method adopted by me while enacting the survey is STRATIFIED CONVINIENCE SAMPLING. From the total population of the preferred of branded products, a sample of 100 has been chosen according to convenience.
The respondents are selected on the basis of their know legibility, attitude, awareness about brand, visit at ‘PANTALOONS’ and knowledge of other, management related aspects. This includes service people, professionals, students (management students, undergraduates) etc. and major occupations.
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DATA COLLECTION METHOD
Data collection is the most important step in the research process. This may include a number of errors which may lead to futility of research. In the survey, the ‘data collection’ has been taken special care.
Data can be collected by two methods
1. Primary Data2. Secondary Data
For primary data collection, I had prepared questionnaires which were kindly and duly filled up by the respondents. The questionnaire contains questions like their preference of branded and non-branded items, more popular brands, reasons for preference over each, etc.
Secondary data collection is not so far required as the research is done ‘Topic Oriented’ and it is difficult to make accessible topic-suitable material. Although, I have referred a couple of magazines having articles containing some data about PANTALOONS.
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ANALYSIS AND INTERPRETATION
Analysis and Interpretation is one of the most important steps in the research procedure. The success or failure of research largely depends on how successfully the analysis and interpretation is done.
To make data, meaningful, the data is classified according to different variables to make it simplified. Following the previous step, tabulation is done of the classified data. The main purpose of tabulation is to know the frequency of response. It helps to develop relationship between the data and also to compare. This whole process of
Collection
Classification
Tabulation
is called analysis of data.
After the data is analyzed it needs to properly be interpreted. This is a very crucial step, as, wrong / imperfect interpretation leads to wrong conclusion and there by futility of Research ‘Interpretation’ means to get over the tabulation and give meaning to that analysed data. And on the bases of the analysed data, determine the exact cause and effect relationship between different variable which are a part of Research Study.
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Q - Gender:
Sr. No. Occupation Percentage1 Male 602 Female 40
0
10
20
30
40
50
60
Male Female
1 2
Series1
ANALYSIS
Turning out ration in case of gender is male 60% and female 40%.
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Q - Occupation :
Sr. No. Occupation Percentage1 Businessmen 122 Profession 303 Service 154 Any other 55 Students 38
0
5
10
15
20
25
30
35
40
Bus
ines
smen
Pro
fess
ion
Ser
vice
Any
oth
er
Stu
dent
s
1 2 3 4 5
Series1
ANALYSIS
The study clearly shows that the student persons which accounted to 38% of the total sample is the clear indication that they prefer more the branded products than the other groups with the least difference. Profession accounted for 30% followed by service with 15% and businessmen/women 12% respectively. A
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remarkable low 5% of housewives prefer to purchase branded product .
Q - Income (Per Month):
Sr. NO Income Percentage1 1000-10,000 602 11,000-20,000 203 21,000-30,000 124 31,000-40,000 25 41,000-50,000 26 Above-50,000 4
Percentage
1 1000-10,000
2 11,000-20,000
3 21,000-30,000
4 31,000-40,000
5 41,000-50,000
6 Above-50,000
ANALYSIS
The study clearly shows that 60% of the respondents belong to the first income group i.e. 1,000-10,000. Being favorably followed by 20% relevant income group 11,000-20,000 other income group accounts to 2% 31,000 – 40,000 and 2% 41,000 – 50,000 and 4% above 50,000.
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Q - Marital status
Sr.No. Marital status Percentage1 Married 462 Unmarried 54
42
44
46
48
50
52
54
Married Unmarried
1 2
Series1
ANALYSIS
Among the respondents the married respondents enumerated to be 46% and unmarried respondents enumerated to be 54% .
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Q - Have you ever visited ‘PANTALOONS’ Rajkot ?
Sr. no. Particulars percentage1 Yes 1002 No 0
0
10
20
30
40
50
60
70
80
90
100
Yes No
1 2
Series1
ANALYSIS
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The survey report shows that all the respondents i.e. 100% of respondents they have to visit in ‘pantaloons’ Rajkot.
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Q - Do you prefer the use of branded products?
Sr. no. Particulars percentage1 Yes 802 No 20
0
10
20
30
40
50
60
70
80
Yes No
1 2
Series1
ANALYSIS
The survey report shows that all the respondents i.e. 100% of respondents prefer to use branded products. This shows that upcoming branded products can project a potential market.
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Q - In which of the following is prefer branded products?
Sr. no. Particulars percentage1 Garments 452 Accessories 83 Underwear 74 Jewelers 155 Perfumes 116 cosmetics 14
percentage
1 Garments
2 Accessories
3 Underwear
4 Jewelers
5 Perfumes
6 cosmetics
ANALYSIS
The most preferred branded products is covered under the head of Garments products turning up to 45% being entailed by s being Jewelers 15% being followed by at cosmetics 14% and Perfumes at 11% and Accessories 8% , Underwear at 7% of the total respondents.
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Q - If yes, why do you prefer them? (Reasons)
Sr. no. Particulars percentage1 Durability 5.22 Style 203 Influenced throught celebrity 34 Design 175 Status 9.26 Fashion 14.507 Co lour 108 Quality 129 Varity 2.810 Service 0.811 schemes 5.5
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Q - Which specific brand do you prefer which purchasing?
Garments
Male
Sr.No. Particulars Percentage1 Rig utility clothing 2.222 Schaller 43 Indigo nation 8.804 Lombard 13.335 Jone miller 28.666 Urbana 27 F- The factor 15.558 Bare leisure 6.709 Akkriti 4.4410 All 511 Umm 812 Urban yoga 0.913 Ajile 0.4
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1 Rig utility clothing
2 Schaller
3 Indigo nation
4 Lombard
5 Jone miller
6 Urbana
7 F- The factor
8 Bare leisure
9 Akkriti
10 All
11 Umm
12 Urban yoga
13 Ajile
ANALYSIS
Male members prefer jone miller who turn out to be 28.66% and F- The factor out at 15.55%. These are competent to their Competitors like Lombard at 13.33%, Indigo nation at 8.80 % the rest but remarkable collectively form about 20% comprising the share of Urban yoga and Ajile and Urbana ,Rig utility clothing , Schaller hich are not popular at the extend to of former ones.
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Q - Female
Sr.No Particulars percentage
1 Rig utility clothing 2.662 Schaller 43 Annabelle 84 All 35 Mix N Match 13.336 Arha 107 Rang lauch 78 Trishaa 99 Akkriti 310 Ajile 811 Urben yoga 4.1012 Jealous 6.6613 Umm 1114 Bare demine 215 Honey 516 109 F 3.25
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1 Rig utility clothing
2 Schaller
3 Annabelle
4 All
5 Mix N Match
6 Arha
7 Rang lauch
8 Trishaa
9 Akkriti
10 Ajile
11 Urben yoga
12 Jealous
13 Umm
14 Bare demine
15 Honey
16 109 FANALYSIS
The female respondents prefer Mix N Match the most which figures out to be 13.33% being followed by Umm11% the rest like Looks, Arha and Annabelle contribute by 10%, and 8% Jealous 6.66%, Honey 5%, Rang lauch 7%respectively. This proves simple that there is remarkable good preference of Mix N Match garments among women brand conscious consumers.
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Q – Children
Sr.No Particulars percentage1 Bare 7214 102 Lilliput 143 Gini & jany 434 Chark Boys 205 Kid Studio 13
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1 Bare 7214
2 Lilliput
3 Gini & jany
4 Chark Boys
5 Kid Studio
ANALYSIS
The children’s respondents prefer Gini & jany the most which figures out to be 43% being followed by Chark Boys 20% the rest like Looks, Lilliput and Kid Studio contribute by 14%, and 13%,Bare7214Honey respectively. This proves simple that there is remarkable good preference of Gini & jany garments among children brand conscious consumers.
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Q - Are you satisfied with brands of ‘PANTALOONS’?
Sr.No Particulars percentage1 Yes 762 No 24
0
10
20
30
40
50
60
70
80
Yes No
1 2
Series1
ANALYSIS
That is the clarify 100% of respondents that 76% of respondents is satisfied with the brand of ‘pantaloons’, and 24% respondents is not satisfied.
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Q - Have you buy non branded clothes ?
Sr.No Particulars percentage1 Yes 502 No 50
0
5
10
15
20
25
30
35
40
45
50
Yes No
1 2
Series1
ANALYSIS
Exactly 50% of the respondents prefer non branded products over branded ones and the rest 50% do not prefer it. This is quite in resemblance to the type of customer whether innovative, switcher, loyal customer etc.
.
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Q - If yes, why?
Sr.No Particulars percentage1 Low price 602 Varity 203 Schemes 20
0
10
20
30
40
50
60
Low price Varity Schemes
1 2 3
Series1
ANALYSIS
If the 100% respondents 50% should have to purchased the non branded cloths because the customer is highly important for the low price ,no. of Varity and bundles of schemes are available.
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The customer is first low price 60% and Varity and schemas are20%and 20% respectively.
Q - To what extend is price important for purchase of branded products?
0
5
10
15
20
25
30
35
40
45
Not at all Moderrate Highly important
1 2 3
Series1
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Sr.No Particulars percentage1 Not at all 362 Moderate 233 Highly important 41
ANALYSIS
Price is a dominating and decisive factor at the time of actual purchasing of products. 41% of respondents are such for whom ‘Price’ is high important. Whereas 23% of the respondents show moderate important significance of price as deciding factor while purchase of branded products.
For 36% of respondents ‘Price’ is negligently important and here the purchasing decision depends on the other factors. The above ratio shows a good blending of potential customers and the non potential but future prospective customers.
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Q - What are the other convenience you will prefer ?
Sr.No Particulars percentage1 Jade blue 462 Option 163 Iscon prozone mall 234 V-mart 15
1 Jade blue
2 Option
3 Icons prozone mall
4 V-mart
ANALYSIS
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That are show the respondents have to other convenience of Jade blue being followed by 46% that is highly important. Than the other option like shows icons prozone mall, Option and V- mart being followed by 23% ,16% and less important is V-mart 15%.
Q - Which media of advertisement ‘PANTALOONS’ should prefer?
Sr.No Particulars percentage1 Newspaper 352 Pamptets 53 T.V 204 Radio 105 Hoardings 266 Mouth & Mouth 4
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1 Newspaper
2 Pamptets
3 T.V
4 Radio
5 Hoardings
6 Mouth & Mouth
ANALYSIS
With the increasing ‘Info-trend’ there is a burst of modes of advertisements being opted by the marketers to attract the consumers’ attention by hook or crook.
35% of the respondents are influenced by the most common and costly mode of advertisement i.e. newspapers being followed by 35% by hoardings which have greater scope in Gujarat especially whereas only 26% of respondents .the T.V being followed by 20% of respondents.
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There is again a remarkable contribution radio of at 10% of the respondent where as pamptets poorly contributes 5%.
The negative remarkable aspect in this matter is that none of the respondents get influenced by pamphlets. This proves further cut down from the list of print media mode of advertisement.
Q – Who is brand ambassador of ‘PANTALOONS’?
Sr.No Particulars percentage1 Lara data 402 Boby deoal 243 Bipasa basu 264 Zahid khan 10
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1 Lara data
2 Boby deoal
3 Bipasa basu
4 Zahid khan
ANALYSIS
The current brand ambassador of Lara data and Boby deoal .The past brand ambassador is bipasa basu and Zahid khan .The respondents point of view Lara data 40% and bipasa basu 26%of good brand ambassador. other than the Boby deoal 26% and last the Zahid khan 10%of the less response.
Q - Any another suggestion from you for brand ambassador ?
Sr.No Particulars percentage1 Yuvraj Singh 452 Hritik rosan 55
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0
10
20
30
40
50
60
Yuvraj shingh Rutvik rosan
1 2
Series1
ANALYSIS
That is clarify that the respondents are suggested other brand ambassador of most of the respondents are suggest actor’s of Rutvik rosan by 55% and famous cricketer of Yuvraj shing by 45%.
SWOT ANALYSIS
STRENGTH
o 15 years of experience in garment retailing with most popular brands.
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o The most prominent location on 150ft. Ring Road with an attractive fascade (front elevation).
o A very wide display area with shop-in-shop concept helps to enhance each and every brand.
o Professionally trained staff to serve the customers.
o Occassionally visited by the consultants from Mumbai for staff training and guidance.
o Approximately 600 foot-falls on daily basis including prominent personalities, business and corporate class visitors of Saurashtra.
WEAKNESS
o The public perception about ‘high price for high quality’ shall become an obstacle to increase the customer base.
o Lack of brand awareness among the Rajkot consumers and other surrounding regions.
OPPORTUNITIES
o The increasing base of the customers preferring brands and their increasing importance for increasing the ‘standard of living.’
o Entry of newer brands which are looking for bulk customer hunt in the small towns
- According to some of the magazines
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o Increasing market in small towns looking for good brands.only shopping juncture offering a number of brands at one place.
o Its innovative customer service ending up to customer awareness and preference.
THREATS• The emergence and inception of shopping malls like PANTALOONS and entries of great brands in ‘one shop stop’ business.
• He already established shops which offer only some brands are also a competing threatful factor which make a share in their total brand market share.
• The in affordability of the most of the customers as the discreationary income here (in Saurashtra) is lower.
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CONCLUSION Branding is a major issue in product strategy. A brand is a
complex symbol that can convey many levels of meaning. Branding is expensive and time consuming and it can make or break a product. The most valuable brands have a brand equity that is considered an important company asset and that must be carefully managed.
In thinking about branding strategy, companies must decide whether or not to brand: whether to produce manufacturer brands, or distributor or private brand: which brand name to use: and whether to use line extension, multibrands, new brands or co-brands.
The best brand name suggests something about the product’s benefits: suggests product quality: are easy to pronounce, recognize and remember are distinctive and do not carry negative meanings or connotations in other countries or languages.
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SUGGESTIONS 1) The excessive utilization of money in the accessories
like lighting and other showroom furniture is proving to be unproductive.
2) Rajkot consumers are less interested in posh-accessories for garments and they may avoid the high brand purchase due to high price which should be eliminated
3) Continuous announcements of different schemes will keep the brand recall better in the minds of consumers.
4) Emphasising on other aspects such as increasing the product-brand-offering will attract more consumers.
5) Giving cost benefits to regular customers will help build a strong loyal customer base.
6) Emphasise on the modern marketing approach of ‘CUSTOMER RELATIONSHIP’ which will help the firm in future.
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FUTURE PLANS Despite success, Kishorbhai Biyani believes that there is a
lot more to be done. He has great plans to make ‘Pantaloons’ a great player in the retail industry.
The future plans of ‘Pantaloons’ include the launch of the Customer Loyalty Programme, which will offer its members an opportunity to collect points and avail of innumerable special benefits. Also in pipeline is ‘home-shopping’ for special clientile.
Ensuring that the ‘Pantaloons’ group does its bit towards the very society that has allowed to grow and succeed. He also plans to set up a training institute for retail management, and hopes that this will become the foremost of such institutions in the Saurashtra region.
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BIBLIOGRAPHY
1) Marketing Management By Philip Kotler
2) Business TodayA magazine, advanced in ‘Business
Buzz’
3) Images Business of Fashion
4) Marketing ManagementPhilip Kotler & Gary Armstrong
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