PROMOTIONAL MIX STRATERGIES FOLLOWED AT BIG BAZAR
What is Promotional Mix?
In marketing, the promotional mix describes a blend of promotional variables chosen by marketers to help a firm reach its goals. It has been identified as a subset of the marketing mix. It is the coordination of marketing activities which includes publicity, sales promotion, advertising, direct marketing and personal selling. It is a coordination of activities that you will perform to directly interact with your customers. For example giving sales presentations helps you to interact with the customer one on one to answer their questions and demonstrate your product.
The above figure gives a represents of how promotional mix is a subset of marketing mix. Various methods followed under Promotional Mix:
Public relations or publicity is information about a firm's products and services carried by a third party in an indirect way. This includes free publicity as well as paid efforts to stimulate discussion and interest. It can be accomplished by planting a significant news story indirectly in the media, or presenting it favorably through press releases or corporate anniversary parties. Examples include newspaper and magazine articles, TVs and radio presentations, charitable contributions, speeches, issue advertising, seminars. Advertising
Advertising is the paid presentation and promotion of ideas, goods, or services by an identified sponsor in a mass medium. Examples include print ads, radio, television, billboard, direct mail, brochures and catalogs, signs, in-store displays, posters, mobile apps, motion pictures, web pages, banner ads, emails. Sales Promotions
Sales Promotion is the media and non-media marketing communications used for a pre-determined limited time to increase consumer demand, stimulate market demand or improve product availability. Examples include coupons, sweepstakes, contests, product samples, rebates, tie-ins, self-liquidating premiums, trade shows, trade-ins, and exhibitions. Personal Selling
Personal selling is the process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation, often in a face-to-face manner or by telephone. Examples include sales presentations, sales meetings, sales training and incentive programs for intermediary salespeople, samples, and telemarketing. Direct Marketing
Direct Marketing is a channel-agnostic form of advertising that allows businesses and nonprofits to communicate directly to the customer, with methods such as mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, promotional letters, and outdoor advertising.
The present study is focused on the Promotional mix strategy adopted at Big Bazaar in marketing its product and how this is responsible to attract consumers.
Introduction on Organization:
BIG BAZAAR is a name renowned in Retail. It is the fastest growing and most successful Retail chain in India. It is also the first retail chain to be started in India and is the largest until now. It is now a brand image in private retail sector. The idea of big bazaar came to CEO Kishore Biyani from a 25 years old store "Saravana" which was owned by a family and worked on the philosophy of "low margin high turnover".
Following its slogan of "isse sasta or achha kahin nahi"(Meaning cannot find cheaper and better than this anywhere) it provides the consumer with the best of the materials at a rate less than rest of the market. Big bazaar is the subsidiary of Future Group, Pantaloons Retail India ltd. Future group is has various brands like Pantaloons, F123, Copper Chimney, Etam, Staples, One Mobile, Urbana, Brand Factory, Loot Mart, Home Town and Central. Big bazaar covers all parts of India including the metro cities...
Please join StudyMode to read the full document