SERVICE SECTOR MANAGEMENT PROJECT: RETAIL INDUSTRY
AKSHAY AGRAWAL (2)
GEETA ATADKAR (7)
AARTI IYER (21)
KASHYAP MEHTA (29)
KALYANI SINHA (56)
We the students of T.Y BMS would like to extend our sincere gratitude and whole hearted thanks firstly to Prof. Mustafa Sapatawala sir for granting us an opportunity to learn and explore the world of Service Sector. Also we would want to thank him for guiding and mentoring us like a friend throughout the period of this project. Also we want to extend our warm gratitude to our faculty Prof. Mrs. Anita P. Agrawal for wholehearted efforts and Prof. Mrs. Archana S. Sanil, Coordinator of BMS Department for her help and suggestions. We cannot forget the constant motivation provided by our Principal Dr. Mrs. Harsha K. Mehta, because without that, this project wouldn’t have become what is it today. Last but not the least, our families and friends for constant support which kept us going and the blessings of the Almighty which ensured everything went smoothly. A big THANK YOU to all!
IN ORDER TO HAVE A CLEARER UNDERSTANDING ABOUT THE THEORETICAL CONCEPTS, WE HAVE SHORTLISTED: INDIAN COMPANIES LIKE:
1. FUTURE GROUP’S BIG BAZAAR
2. K RAHEJA GROUP’S SHOPPER STOP
FOREIGN COMPANIES LIKE:
1. WALMART INC.
The concepts which will act as a PARAMETER for the study to hold its base would be: 1. SWOT ANALYSIS
2. PEST ANALYSIS
3. MARKETING MIX
With the above stated companies and the concepts, we would study how the leading retail brands have developed their service background by application of the theoretical concepts. Also there would be a comparison study among the Indian brands and their foreign counterparts which will help us to decide which retailing outfit performs better and the reasons pertaining to it.
The India Retail Industry is the largest among all the industries, accounting for over 10% of the country’s GDP and around 8% of the employment. The Retail Industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market. But all of them have not yet tasted success because of the heavy initial investments that are required to break even with other companies and compete with them. The India Retail Industry is gradually inching its way towards becoming the next boom industry.
The total concept and idea of shopping has undergone an attention drawing change in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. Modern retailing has entered into the Retail market in India as is observed in the form of bustling shopping centers, multi-storied malls and the huge complexes that offer shopping, entertainment and food all under one roof.
A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing workingwomen population and emerging opportunities in the services sector are going to be the key factors in the growth of the organized Retail sector in India. The growth pattern in organized retailing and in the consumption made by the Indian population will follow a rising graph helping the newer businessmen to enter the India Retail Industry.
In India the vast middle class and its almost untapped retail industry are the key attractive forces for global retail giants wanting to enter into newer markets, which in turn will help the India Retail Industry to grow faster. Indian retail is expected to grow 25% annually. Modern retail in India could be worth US$ 175-200 billion by 2016. The Food Retail Industry in India dominates the shopping basket. The Mobile phone Retail Industry in India is already a US$ 16.7 billion business, growing at over 20% per year. The future of the India Retail Industry looks promising with the growing of the market, with the government policies becoming more favorable...
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