...BASIC RETAIL PRINCIPLES Category Management The principles outlined in the category management section are based on many years experience in retailing and proven fundamentals. They are presented in a format to encourage you the retailer to work on these principles within your business. By the very nature of retailing, markets and customers will change over time. Retailers must understand and mange this information through category management. Due to the limited amount of time available in the review, the principles will be limited in there scope to generic retail principles. Managing your retail business through category management improves your knowledge and ability to react quicker to the customer’s wants and needs. As a retail owner you need to have at least 15 categories based on product groupings within your store. You can also break down each category into sub categories for further analysis. The categories that you establish will be the basis of ongoing management across key performance indicators (KPI’s) that you want to manage within your business. The categories you chose should be based on product types or groupings. If you are in food for example your categories would be your menu offer for example: sandwiches, cold drinks, coffee, cakes, salads, donuts. If you are in home wares categories like: gadgets, dinnerware, saucepans, kitchen ware, and glass ware are some examples. How good is your collection of data? To collect information on categories you need to...
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...Available ONLINE www.visualsoftindia.com/journal.html VSRD-IJBMR, Vol. 1 (6), 2011, 348-361 RESEARCH ARTICLE RESEARCH ARTICLE A Study of Buying Behavior and Brand Perception of Consumers in Shopping Malls 1 M. Yaseen Khan* and 2SM Tariq Zafar ABSTRACT In India Shopping Malls industry is upcoming industry worth Rs 17000 Cr. In NCR (National Capital Region) Gurgaon is the most favorite place for the shopping malls. M.G. (Meharuli – Gurgaon) Road is the place for all famous shopping malls in Gurgaon. In NCR DLF, MGF, JMD, SAHARA, all big players are in the region. On M.G. Road Gurgaon MGF Group has two shopping malls in operation MGF Metropolitan Mall, MGF Plaza, Sahara Group has its Sahara Mall and DLF Group has its City Centre. The project involved the study of comparative analysis consumer buying behavior and brand perception of consumers regarding shopping malls on M.G. Road and Metropolitan Mall as a base. Consumer purchasing power is the main factor, which determines their buying behavior and brand of shopping malls. Shopping Malls are the places for the fun & entertainment, family outing, shopping and eating’s. In shopping Malls age factor is the most dominant factor in daily footfalls. In different shopping malls different age group consumers come and they impact on the buying behavior. Keywords: Shopping Malls, Consumer Behaviour, Brand Perception, Purchasing Power, Fun & Entertainment, Age Factors etc. 1. INTRODUCTION In 2009, India's nominal GDP stood...
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...Trends…………………………………………………………………………10-12 * Market Analysis………………………………………………………………………………12-14 * Market Segmentation Target Market Selection……..…………………..15-16 * Buyer Behavior………………………………………………………………………….17 * Competitor Analysis…………………………………………………………………..18 * Estimate of Annual Sales and Market Share…………………………………18-19 * Marketing Plan………………………………………………………………………………….20 * Overall Marketing Strategy……………………………………………………………20-22 * Pricing Strategy……………………………………………………………………………..22-23 * Sales Process………………………………………………………………………………23-24 * Management Team and Company Structure……………………………….25 * Management Team………………………………………………………………….25 * Board of Directors……………………………………………………………………25-27 * Board of Advisors………………………………………………………………………28-29 * Other Professionals…………………………………………………………………30 * Operations Plan………………………………………………………………………………31 * Operations Model and Procedures……………………………………………………31-32 * Business Location……………………………………………………………………………….32 * Operations Strategy and Plans………………………………………………………….33-34 * Product (or Service) Design and Development Plan………………………………..34 * Exit Strategy……………………………………………………………………………34-35...
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...different segments of consumers with respect to different product lines (Kotler, 2008). Targeting strategy is used to recognize the target audience for the particular products. Product positioning is used to identify the region in which the products will compete within a market place. These different elements of marketing process are elaborated in this study in order to understand marketing management. Introduction Effective marketing strategies and marketing principles increase the core competency of an organization. UK is known for several leading fashion retail chains. Leading companies like Zara, Top Shop, Marks & Spencer, and Miss Sixty are the leading fashion retails in UK (Moore, Bruce and Birtwistle, 2012). The study will discuss about the marketing strategies of Marks & Spencer’s in order to accomplish the objective of the study. Marks & Spencer is one of the leading multinational fashion retail chains headquartered in London. In UK the organization operates with its 718...
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...frequency. The customer-buying model will help Kudler improve its practices and assistance to please their appreciated customers. Cost is not a main concern for Kudler customers; these customers are interested in high quality and specialized goods. Therefore, Kudler has requested a Frequent Shopper Program System with a “loyalty points program to provide customers with points that they redeem for high-end gift items, airline first-class upgrades, or other specialty foods” (ecampus.phoenix.edu, 2011). The Frequent Shopper Program System for Kudler Fine Foods will track purchase behavior of individual customers and provide high value incentives by installing a customer loyalty points program. “Point of Sale Software” (camcommerce.com, n.d.) “Retail STAR Point of Sale (POS) software provides a solution for customer tracking, managing inventory, and selling inventory via sales orders or point-of-sale transactions” (camcommerce.com, n.d.). The software program has a CRM (Customer Relationship Management) module built into Retail STAR. Retail STAR Point of Sale Software can computerize all of Kudler’s sales data and provide executive management with a balance sheet and profit and loss statement at the end of each sale day. Retail STAR will track all the vital information needed to generate marketing campaigns to have Kudler Fine Foods customers return to the stores. “The CRM module can drive increased sales, display up-sells, email marketing, complete buying history, and integrated...
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...Marketing Research Project Modern retails in India - Trends, issues and future GROUP - 4 Divya Katoch Gaurav Bhola Hanuman Sharan Hemant Meena HimaSindhu Karthik Junnuri F - 099 F 101 F 102 F 103 F 105 F 108 Page 1 Marketing Research Project ACKNOWLEDGEMENT We sincerely express our gratitude to Mr. Hemang Dangi for his constant guidance throughout the project. We also want to thank all the respondents of our survey for spending their valuable time in filling out the survey. Yours sincerely, Group 4 MBA- 1st Year Section B Page 2 Marketing Research Project Table of Contents 1.Title page ................................................................................................................................1 2.Acknowledgement ..................................................................................................................2 3.Index/ Table of content ..........................................................................................................3 4.Abstract ..................................................................................................................................4 5.Introduction ............................................................................................................................5 6.Review of literature .............................................................................................................. 10 7. Research methodology ...................................
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...ftGRADUATION PROJECTS MFM (07-09) Name: Aditi Mishra Organization: Lifestyle International Pvt. Ltd. Project Title: Devising a floor plan to optimize sales OBJECTIVE _ To study & create a feasible floor layout plan on excel for Goregaon stand alone- HC (matched to scale with the actual floor plan) to work as a monitoring tool to identify problem areas. _ To calculate & analyse the Hit ratio for Jan-march period age wise & department wise for both the warehouses of LS for Goregaon store to confirm if the low SPF pockets are due to absence of merchandise on floor. _ GAP analysis for product- Furniture & Household in terms of FMS, SMS. _ To do a service gap survey with the help of SERVQUAL system. _ Competitor’s survey (Home stop & Hyper city) on options, retail space allotted & brands present to study their focus areas. FINDINGS & SUGGESTIONS _ WAREHOUSE _ All location Inventory controllers should send the damages and loss data to the corporate office every Saturday. _ While sending the data, Inventory controllers should discuss the circumstances under which the loss or damaged occurred with the Store manager. _ The review of cause, analysis of data should be done to find out the lapse in the control system. _ Drill down the exact cause and recommend penalization of the concerned staff in case of frequent damage by staff. _ Overall stock holding was less in the off sale period since most of the expected consignments were delayed...
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...Marketing suggestions for sales growth of Graves Enterprises, were analyzed against marketing research of buyer behavior and purchase patterns. This research was then used determine if the proposed plans would be successful in doubling sales for both the consumer and commercial markets of Graves Enterprises. Both plans involved creating new product lines and raising the cost to increase sales. It was determined that both consumer and commercial buyer’s were happy with their current products and ranked price of the product over any other attribute. This suggests that creating a new line alone would not be a justifiable incentive to purchase the new Graves products. This “You Decide” report presents the analysis of marketing suggestions submitted by the marketing directors at Graves Enterprises. Their suggestions are a review of primary and secondary research conducted to help determine a marketing strategy that will double sales in both the consumer and commercial markets of Grave Enterprises within the next year. The first analysis is aimed at the consumer market, while the second is an analysis at how to grow the commercial market. Consumer Products The determination must be made as to whether Joshua Edwards’s market research and recommendations in the initial marketing plan will be successful in doubling sales in the consumer market. Edwards was instructed to provide a set of criteria used in evaluating the reasoning for his approach. He first identified the target...
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...INTRODUCTION Consumer’s decision-making process has changed with the introduction of the Internet as an alternative channel for shopping. Online shopping is the process of buying and selling products, services, and information over computer networks The new wave of consumerism coupled with increasing urbanization and burgeoning middle class with paradigm shifts in their demographic and psychographic dynamics have driven consumers frequently to use retail websites to search for product information and/or make a purchase of products. Presently, Internet retailing in India is growing by 29 per cent CAGR and expected to be 48 per cent and the same is valued as INR 27 billion by 2010 from INR 4 billion in 2005–6 . Web shopping is envisioned as an alternative retail channel for various conspicuous reasons such as speed of transaction, selection and price, convenience, time and space neutrality, choice, fun and enjoyment, easy and comfortably obtained information about products and services(Rowley 1996; Donthu and Garcia 1999). The consumer behaviour in Internet retailing is influenced by a variety of factors comprising consumers’ trust in Internet shop based on perceived size and reputation of its physical store network, perceived privacy and quantum of risk, perceptions of convenience as manifested by the opportunity to shop at home for twenty-four hours in seven days a week (Hofacker 2001). The web store environment and shopping enjoyment mostly influence shoppers’ behavioural...
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...pork exports to Singapore increased from 60,000 kg in 1998 to 28.8 m.kgs by 2001, which included: Market Orientation - Define clear and success marketing plan ◆ In 1996 and 1997 Foot and Mouth Disease (FMD) appeared in Taiwan’s and South Korea, people started to pay more attention and awareness on the safety of livestock. In addition of the “Nipah” virus appeared Malaysia in late 1998 and which amplified the customers needs and demands on virus free livestock. ◆ Maximize the exchange of value by Australia Pork Industry, Confederation of Australian Pork Exporters (CAPE), had been formed with the NPIDP funds, after several pre-market development program, industry review and training such as NPIDP, PPGP PPEP, with aim to improve the international competitiveness identify market needs and business opportunities ◆ Coordinated efforts of APL, the Australian Pork Limited and the Australian Quarantine and Inspection Service (AQIS) to identify export market opportunities and promote competitive Australian products and also development superior benefit proposition for Singaporean customers. ◆ Review the existing pork provider in Singapore, their direction on marketing still focusing on sales oreniention, seldom to have details analysis on customer needs and wants. Understand Needs and Wants Of customer and their buying behavior ◆ Identified Pork is the big part of daily diet of Singapore’s people. And have desperately needed on healthy but also virus free pork after outbreak...
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...CONSUMER BEHAVIOUR IN THE INDIAN RETAIL SECTOR CONSUMER BEHAVIOUR IN THE INDIAN RETAIL SECTOR PROJECT REPORT ON Submitted By PATHAN SHAHID KHAN UNDER THE GUIDANCE OF Prof. Rafana Kazi in partial fulfilment for the award of the degree of MMS Anjuman-I-Islam’s Allana Institute of Management Studies Mumbai 400 001 2014-15 APPENDIX 1 Anjuman-I-Islam’s Allana Institute of Management Studies Badruddin Tyabji Marg, OFF. 92, Dr. D.N. Road, Opp. CST, Mumbai 400 001 Certificate This is to certify that Pathan Shahid Zuber Khan, a student of Anjuman-I-Islam’s Allana Institute of Management Studies (AIAIMS) pursuing final year in MMS has completed the dissertation report on Market analysis of LG consumer durables in the 2014-15 Date:__________________ Place:__________________ _____________________Prof. Rafana KaziProject GuideAIAIMS | ________________________Dr. Lukman PatelDirectorAIAIMS | DECLARATION Project Title: Market analysis of LG consumer durables Submitted on: Under the Guidance of: Prof. Rafana Kazi College: Allana Institute of Management Studies (AIAIMS) This is to declare that I, Pathan Shahid Khan, student of Allana Institute of Management Studies (AIAIMS) IVth semester (Marketing) hereby declare that I have completed the project on Market analysis of LG consumer durables in the Academic year 2015 The information submitted is true and original to the best of my knowledge. Date: <Date of Submission> Place: Mumbai (SIGNATURE) Pathan Shahid...
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...dream and vision. They are the true innovators of lifestyle advertisements that tell a story and the first to create stores that encourage customer participation in that lifestyle.”) 2. Identify the major goals of the company. Ralph Lauren has 3 major goals: • Build and extend the brand by uniquely showcasing the world of Ralph Lauren through advertising and marketing. The Ralph Lauren company also plan to expand and extend the Ralph Lauren lifestyle through new products, in new categories, and in new parts of the world. • Keeping its specialty retail is also extremely important. Polo continues to increase the amount of exclusive or limited-distribution product in its Ralph Lauren stores. They also plan on making significant advances in how it operates its retail stores by adding experience and strength to the leadership of the specialty retail group and coupling it with the right merchandise and marketing support. • Expanding its international presence so that they can broaden their reach through increasing direct brand ownership and control with new specialty retail store openings. 3. Does the firm seem to have any longer-term challenging or stretch goals that would serve as...
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...external environment, looking at what resources and capabilities give the organisation its completive position, assessing the organisations strengths and weakness and looking at DJs long term sustainability plan to see what recommendations can be advised and considered in the coming years as the organisation faces new challenges in the ever changing retail and financial sector. ENVIRONMENTAL ANALYSIS The Business environment is ever changing for DJs. The Business focus is its department stores and financial services. The business environment is anything that affects strategies, performance and decision-making in the business. It is vital that an external and internal business environment study and investigation is carried out before formulating the company’s position and direction to remain sustainable long term. Reviewing the Macro environment, this consists of issues at work that will directly affect DJs activities and markets in which DJs competes in. The PESTEL model will be used to analysis the macro environment effects DJs is currently facing; this will allow the company to predict situations and unforeseen circumstances that may occur in the future. (please refer to Appendix A for diagram) Economic Factors The most important economic factor in the retail industry that affects DJs is interest rates. The cuts of interest rate by the Reserve Bank of Australia and the uncertainty caused by the continued financial uncertainty in Europe and the US (E), as mentioned...
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...Retail Management Course Syllabus |Course Name: |Retail Management | |Course Code: | | |Credit Hours: |03 Credit Hours | |Course Prerequisites: |Marketing Principles | |Quarter/Year: | | |Instructor: |Hasan Ashraf Khan | |Contact No: |051-4863363-65 | |Consultation Hours: |9 am to 2 pm | |E-mail: |hasan@szabist-isb.edu.pk | 1. Course Description: The retailing industry is a significant industry sector and the largest private sector employer in USA and many Western countries. In emerging economies, retailing reflects the rapid changes taking place as local...
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...A Study on TANGS’ Marketing Strategies in Influencing Buyer Behaviour Theory to the Marketing of Place Introduction C.K. Tang Limited (TANGS) is one of Singapore’s icons of retail, providing consumers in Singapore with the necessities of modern life - from fashion and lifestyle goods, to home products and electrical appliances, through its department stores and boutique shops since 1932. From 1988 to 1995, the store created trendsetting initiatives in Singapore like the first in-store magazines, speciality stores within a store, and its own house brands. It also broke retail boundaries by introducing Tangs Studio – a niche upscale store during the decadent 1990s – to cater to a new breed of well-travelled upwardly mobile individuals or yuppies. Tangs also won several window and store display competitions organised by the Singapore Tourist Promotion Board and Singapore Retailer’s Association. TANGS has come to be regarded as a Singaporean shopping institution along the main shopping-belt of Orchard Road (The Business Times, 2012), along the lines of Harrods in London or Bloomingdales in New York. In late 2013, TANGS completed the internal façade of their 3-year transformation plan its flagship store on Orchard Road to keep up with the ever-changing consumer shopping habits of both locals and tourists like operating on Sundays and introducing marketing strategies to increase consumer choice. This report demonstrates the application of relevant behavioural...
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