MINOR PROJECT SYNOPSIS
“MARKETING COMMUNICATION IN DIFFERENT RETAIL FOMATS OF FUTURE GROUP”
BACKGROUND OF RESEARCH-
Marketing, promotion an communication to consumers activities are always done with an aim of getting sale increment with innovate ideas. Promotion ideas and offers are designed in such a manner that customers are made to go and experience the shopping. Marketing also gives some offer to increase the bill size of the customers, taking in consideration the on going fashion and trends and depending upon the consumer behaviour. I here tried to show how the different types of the retailing of the same parent company are different from each other and how these different types of marketing communication channels are effective to their relevant format.
Why the different methods are using in the different types of format of retailing of the future group? Are they relevant and effective enough to communicate their business and marketing ideas to customers of the company? How it is changing in different formats future group?
REVIEW OF LITRATURE-
When we talked about the companies that how they are communicating to their customers and they are trying to attract the customers towards their company. And for that purpose the observation of the consumers is very important. Observation of customers is often a powerful tool. Looking at how consumers select products may yield insights into how they make decisions and what they look for. Observing consumers, tells about:-
1. What is he looking in the product?
2. Is he brand loyal?
3. Is he more or less price sensitive?
4. Is he more interested in packaging, manufacturing, etc. 5. Whether his taste has shifted?
Future Group India, established in 1987 in order to provide diverse services in India and Global markets. Their Headquarters are located in Mumbai. Their employee strength covers over 35,000 people. Future Group is located in 61 cities & in 65 rural areas in India. It is the largest retail organization of India.
The CEO of Future Group is Mr. Kishore Biyani. Future Group and most of its businesses in the consumption space are built around retail. Future group’s retail network touches the lives of more than 200 million Indians in 73 cities and 65 rural locations across the country. The group currently operates around 1,000 stores spread over 16 million square feet of retail space. Present in the value and lifestyle segments, the group’s retail formats cater to almost the entire consumption expenditure of a wide cross-section of Indian consumers. It is lead by PANTALOONS which is the flagship company of Future Group. Company Timeline
* 1987 Company incorporated as Menz Wear Private Limited. Launch of Pantaloons trouser, India’s first formal trouser brand. * 1992 Initial public offer (IPO) was made in the month of May. * 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.
* 2007 Future Group crosses $1 billion turnover mark.
MISSION OF FUTURE GROUP-
We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments – for classes and for masses. We shall infuse Indian brands with confidence and renewed ambition. We shall be efficient, cost- conscious and committed to quality in whatever we do. We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful.
* Big Bazar
* Food Bazar
* Central Mall
Bibliography: www.futuregroup.in(6:10 p.m. 4-10-2010)
www.yorku.ca/rkenedy/critical_skills/student (7:10 a.m. 05-10-2010)
www.fibre2fashion.com/face2face/pantaloon (8:00 am 05-10-2010)
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