* Place Mix(Target market,Channel structure,Channel management,Retailer image,Retail logistics,Retail distribution)- * People Mix(Staff capability,Effciency,Availability,Effectiveness,Customer interaction,lnternal marketing) Place Mix Pantaloons Place Mix Target market Pantaloons is positioned as adepartment store catering to the middle and upper- middle class sections at eachof its locations. Its core offering is branded merchandise, retailinginternational, national and regional brands as well as private and proprietarylabels. Today, a leader inFashion…
Pantaloons promises Fresh Fashion or the entire family as well asthe young and the young-at-heart. The belief is that they will be the keydrivers of fashion. The resemblance can be clearly felt by the introduction of Fashion Fridays which brings in a themeto continue with the growing fashion across the World. Thus it is a storefocusing on providing a value for money proposition as it provides qualityfashion products at an affordable price as compared to the competitors inrespect to the glamorous looks and change in the world of bollywood.
Pptofpantaloons se lelo Marketing Channel * The material distribution structure that moves a product from the manufacturer o the consumer or user. * The marketing structure that, as a part of the distribution channel, ensures the achievement of marketing objectives * 70% of their business is done by selling their own products TYPES OF MARKETING CHANNELS Direct Channel Indirect Channels Manufacturer Consumer Retailer Wholesaler Agent Pantaloons located at up market accessible & high footfall locations. Olnitially,property was purchased & developed by Biyani but after 2002 he decided to buy properties on lease.
Oln beginning the stores had a floor space of 4,500 sq ft but later it grew bigger and occupied between 30,000-90,000 sq ft. Olt takes 0,000-25,000 sq ft in high traffic areas like entertainment complexes and shopping malls. OPantaloon entered into a strategic alliance with Inox leisure to take up spaces in multiplexes. Done level distribution Store Layout Retail management assignment on pantaloons retail India limited Store layout Pantaloons follows a free form store layout. No particular format is followed anything is placed anywhere but strategically.
Pantaloons fall under following categories- Departmental stores, Malls, E-retailers Here when it comes to arranging the clothes, same type of clothes are put up together in different sizes so that same clothes are vailable for every size at one point only. Being a department store, Pantaloons exhibits an arrangement of merchandise in a freeform layout. Such a layout allows free movement and also encourages people to browse and shop with convenience. The floor space is allocated on the basis of the contribution of a particular department to business. As such, the Men’s department has been assigned an entire floor.
The total area of the entire store is approximately 50000sq. ft. However the most disappointing aspect about the layout was the presence of Toilets, Trial rooms and drinking water at adjacent places. This format was exhibited by all the three floors of the store. The layout of the store is modified on a regular basis by shifting the fixtures and display of the merchandise so that the customers develop a feel of novelty in the store Store design- Store Exteriors & Store Interior Pantaloons follows a theme based interior, like a corner is assigned to every brand and that brand put up its product as per its liking.
Also the posters and ads for discounts and offers for them are put up there only Exteriors of pantaloons stores are very attractive & eye catchy. They put up fresh fashion collections on the dummies on he entrance. inside. Good exterior visual merchandising attracts attention, creates interest and invites the customer into the business Exterior Store Design The location of the building is very prominent. It is very much closer to the main road. It has a modern look which is further enhanced by the silver finish as well as the green color appropriately resembling the brand.
The name Pantaloons Urbania at the top of the building further enhances the store’s visibility. The clothes and accessories available in the store are nicely put up at the windows of the building. At night the building is brightly lit up. The focus is largely on the name plate at the top. The entrance has an automatic door closing system. There is always someone to greet the customers entering the shop. Towards the immediate right of the entrance is the baggage counter. Also a wheel chair is kept for the disabled. As one proceeds, there is a customer grievances desk and a counter for green card members.
A couch has also been placed near the desk, which is really comforting in case of a queue Interior Store design Flooring and Ceiling The interior layout generates good brand associations through appropriate color combinations. The white color of the walls and floor coupled with the green color of the visual merchandise helps in portraying the brand effectively. Graphics and Sign ages Exactly opposite to the entrance gate of the store is a store directory mentioning the various sections/departments of the entire store (Ground, First and Second floors).
On the right hand side wall is a sign gage (exactly opposite to the customer grievances desk) indicating the promotional schemes? However the directional signs are not quiet visible. Lighting Good lighting in a store involves more than illuminating space. Lighting is used to highlight merchandise, sculpt face and capture a mood feeling that enhances the store image. White lighting has been majorly used in the store so that the customers can identify the requisite colors of the apparels.
For lightening mostly focus lights are used for the clothes that are hanged on wall white lights are used but for toys section as well as shoes section yellow lights are used and even for the traditional wear yellow lights are used as this light match with the color of the products put up there and even make them look more eye catchy and attractive. Stores have transparent flooring furnished floorings. Store security- well they have ample staff available with them to guide as well as to keep a check on the customers. Also they have cc cameras put up at various spots.
Space Allocation and Utilization Furniture and fixtures- Goods are effectively displayed on a variety of fixtures such as gondolas, tables, cubes, mannequins, waterfalls and other racks, display cases and manufacturer point- of -purchase display. Walk Ways and Entries:- Approximately 75 % of first time customers remember a store’s entrance, which provides the first and last view of the store’s interior. A cluttered entryway cause’s shopper’s to indefinitely postpone entering a store, while an attractive, well designed entrance is inviting to the customers and that’s what pantaloons provides.
Sound type and density Instrumental music is played over loud music in the store making the shopping environmental more serene and calm Odor type and density Like sound, odor too has a negative or positive impact on the atmosphere of the store. The strength (density) of the odor is also important. This is because, even if the odor is right but too strong or intense, the ultimate impact enerated by it is negative. Considering pantaloons, perfumes or room fresheners are aired through the air conditioners. Visual merchandising- Merchandise Type and Density One can come across campaign graphics in the store with merchandise places near them.
Mannequins are displayed with accessories to generate impulse purchases. Spot lights are also focused on the visual merchandise so as to gain the attention of the customers. Pantaloon focuses on the latest fashion apparels. No rack is kept empty as it may create a negative impression in the minds of the customers. E. g. Concerning the T shirts department (especially in case of UMM Brand), one t shirt of a particular color or design is displayed, while next to it, on a shelf the same T shirt but with different colors is displayed.
Fixtures Detachable fixtures with smooth edges are maintained in the store especially in the kids segment. Packaging The Products purchased by the Customers are packed in green colored Recyclable Plastic Bags. The bag is sealed with a tape bearing a statement “Thank you for shopping ant Pantaloons” on it. Merchandise Pantaloons have applied the concept of category management in its day-to-day merchandising unction as against the traditional brand management merchandising practice followed by most retailers. Category managers look at sales and margins of each brand in a category.
The whole idea of category management is to create products across length and breadth of a category at different price points, fabrics, design, shape, seasons, color and size. They are characterized by a broad variety, deep assortment. The Category manager develop a merchandising strategy for the category taking into consideration customer profile, classification, resource structure, vendors, fashion trends, items and price points. The category manager visit stores regularly to check assortments of merchandise displays, stock levels and old season merchandise, consult with team leaders and sales people on problems and suggestions.
Although no concrete information was provided with respect to the ways of forecasting the sales and inventory planning, it was highlighted that a buffer stock of approximately 10-12% of the total stock is maintained in the store. in which they put the dummies, accessories & all. They have a broad walkway & doorways. Also there are small screens put up at various corners which are most isible, and which they show case ads of their own as well as other brands available there.
Here each rack are placed in such a way so that consumers can easily take their wanted products. Pantaloons have their own in house brands in Apparel as well as different sections. Pantaloons visual merchandising is creative, innovative and outstanding which can be seen from its own in house private brands such as John Miller. All the merchandise are placed at both 360 degree and 180 degrees. The new launched products are showed by prominent color back ground. Window display is highly interactive for impulsive buyer.
Promotional Strategy :- Promotion Strategy Hoardings: Pantaloon puts its hoarding at prime locations, featuring the upcoming Fashion events or its brand ambassadors who are generally eminent celebrity. Category manager plans promotions / brand or product building schemes. The category manager identifies slow movers and also disposal plan for the same. Loyalty, Gift voucher pics Under the market strategy promotional idea is very important. Organization provides some schemes or rebates to retailers or consumers. They make advertisement according to convenient of the people and the feature of the product.
So on the basis of marketing strategy a organization runs in the market. It is several types of which makes helpful to increase sales and turnover of the organization. Pantaloons is the first company to promote their products through movies like Na Tum Jano Na Hum and many others, since the companys focus is youth they tend to promote their products through youth icons like Mahendra Singh Dhoni, Bipasha Basu, they also tend to sponsor events which are watched by the youth like the Pantaloons Femina Miss India which they relate to or is liked by the youth.
The company also promotes its products through discounts. For Example-ln Pantaloons (life style segement) on a purchase of one t-shirt(UMM) you would have to pay Rs349 and on a purchase of two one would buy it for Rs549. The company keeps yearly or quarterly discounts. Pantaloon majorly promotes its brands through promotions in events which involve youth like Malhaar, Umang and popular college festivals etc Sectoral Strategies :- India has been a country which followed the concept of un- organized retail till very recently when the real retail boom happened.
The major change was brought in by Pantaloon and Shoppers Stop. Both these companies elonged to a family and the concept of malls started in India and within 5 to 9 years has become a huge sector. Retail contributes 10% to India’s GDP. The retail sector in the country is around $350billionand is expected to grow at a very smooth pace. The departmental store, speciality stores ,discount stores and there are other types .
Over the past few years the Organized Retail Sector has been characterized by the following strategies:- -Large Formats -Rapid Expansions -More Players with variety of formats Urban India is the initial target market -Location -Efficient Supply Chain Management Profitability Model PLC and Responses- Marketing Activities- Pantaloons Retail Company Ltdis involved in many marketing activities but they are different for different stores Pantaloons Stores Positioned as ‘India’s family store,’ a Pantaloons departmental store (Pantaloons) targeted the middle and upper middle class urban population of the country and offered a wide range of garments, accessories and life style products to meet the specific requirements and preferences of all age groups especially the young Indians. The company has majorly marketed its products like BARE,UMM,DJ&C and many more hrough movies like “Kya Kool Hai Hum”, “Na Tum Jano Na Hum” and many more . Pantaloons also sponsors events like “Femina Miss India”. It has also increased its advertisement expenditure budget from 20crores to Rs 40 crores during IPL season. It has also sponsored many International Cricket Tournaments. Since the target market is different the marketing mix is different too.
Big Bazaars In 2001, PRIL opened its first ‘Big Bazaar,’ a 30,000 square feet store in Kolkata (See Exhibit II for a Picture of a Big Bazaar Store). The major USP of the ‘Big Bazaar,’ store was low pricing. These stores offered the best price proposition to ustomers. The Marketing Activities for Big Bazaar are very different . Since it is a Hyper-Market and the Target Market are the masses the company markets a lot through the print media. The coverage of this is even better. In Big Bazaar marketing is purely done on offers and there are “Maha Sales” once a year and the sales rise 3 times in those 3 days. As part of this, the stores focused less on branded items and more on unbranded products with the same quality as branded ones, at a much cheaper rate.
Commenting on this, Biyani said, “We Food Bazaar The first Food Bazaar was set up in Lower Parel in suburban Mumbai in 2001. Food Bazaars represent PRIL’s foray into yet another value retailing business, focusing on food and grocery products. These stores were designed based on PRIL’s understanding of the emotional and rational needs of Indian housewives… They follow the “Guerilla Marketing Strategy to sell their products by offering high discounts etc Promot tonal Offers Run by Pantaloons Retail Company Limited Big bazaar believes in advertising its brand and offers. We often encounter big bazaar’s advertisement in schemes are decided by the main office and all the outlets run these schemes, they understand the importance of communication.
The Future Group has created a category for the growing media industry called Future Media, which is to be a medium through which advertisers can communicate with shoppers in the store. On the effectiveness of this method of reaching the customer, Partho Dasgupta, Chief Executive Officer, Future Media, says miou are communicating to the consumer when and where it matters ” at the time of making a purchase decision. ” The company is considering all types of ways to reach the customer, including digital signage, audio, video and blue-tooth technology etc. The Future Group has switched its media gency and has selected Starcom to handle its account which is around Rs. 2-2. 5 billion and is said to be one of the largest accounts in the past five years.
The company was earlier with Carat for the past two years. As Pantaloon expands across all formats and is rapidly increasing its sq ft space from 4 million sq ft to 30 million sq ft, the company is also looking for creative agencies. At present the company uses Mudra for its value retail segment and Percept for its lifestyle retail segment. The various promotional schemes undertaken by big bazaar are as follows: Ahe punch line of Big Bazaar says “IS SE SASTA AUR ACCHA KAHI NAHI”. This line gives the feeling that Big Bazaar gives merchandise which is cheapest in the market or in other words the value for money which a customer will be getting here will be more than anywhere else. Wednesday is the cheapest day. This is done to divert some of the crowd coming on weekends to a relatively free day. Big bazaar advertises Wednesdays as the cheapest day in all the leading dailies across the capital. This offer targets housewives and encourages them to purchase groceries and vegetables because no one purchases vegetables on a weekly basis, they purchase it at least two imes a week. >Big Bazaar has announced a unique exchange offer ‘Bring anything old and take anything new. Under the exchange offer, old garments, utensils, furniture, plastic ware, newspapers or Just about anything will be weighed and valued and customers will be given exchange coupons.
There is also a direct exchange on mobile and electronic goods during the period with attractive discounts on new purchases. Big Bazaar’s ‘The Great Exchange Offer’ has mobilized more than two lakh families to actually carry the Junk of the house and offload it at the nearest Big Bazaar. Retail nalysts say that generally February and March are dull months for consumer buying in the country and therefore this kind of a promotion campaign is needed to boost sales during the period. >PANTALOON group’s hypermarket chain, Big Bazaar, celebrated Republic Day as the Maha Savings Day, when shoppers at Big Bazaar and Food Bazaar outlets across the country, were offered merchandise at rock bottom prices.
Ahe Maha Savings Day saw shoppers got deals they have never seen or heard before. The offers spread across categories from electronics to utensils, from apparel to furniture and also food. For example pressure cooker for Rs 299, two Ruf n Tuf Jeans for Rs 499, and a Motorola Cl 15 for Rs 1,399 >Big Bazaar usually runs a full page advertisement on Saturdays and Sundays in all the leading dailies communicating various offers. This is done to attract crowds on weekends because most of the people usually shop during weekends. >Pantaloons retail India limited benefits and privileges. These includes: Instant discounts for every time you shop at Pantaloons. Exclusive shopping days to get hold of latest merchandise. Ђ Regular updates on collections and promos via catalogues, sms and email. Special invites to the most happening events. Ђ Extended exchange periods and complimentary drops for alterations. Exclusive billing counters and much more. Big bazaar in association with ICICI banks has launched loyalty cards for the customers. They are: ICICI Bank Big Bazaar Silver Credit Card It gives you the benefits of regular cards and additional features to make your shopping not only enjoyable but also a way to save more with Big Bazaar. ICICI Bank Big Bazaar Gold Credit CardThe card brings to you more reasons to save and earn rewards on its usage.
It gives you all the benefits of regular cards and additional features to make your shopping not only enjoyable but lso a way to save more with Big Bazaar. Shakti Card Shakti is a credit card for housewives. You need not submit income proof. Simply show your Big Bazaar bill of more than Rs. 500 and a lifestyle proof like club membership card, health club card etc. And get your ‘Shakti’. You can use Shakti at all the Big Bazaar and Food Bazaar outlets Pantaloons Retail and Jet Airways have got into a tie-up and now a Jet Privelage customer would avail discounts in Pantaloons. Mahendra Singh Dhoni is appointed Brand ambassador and would be campaining for the apparels of Big Bazzar(DJ&C) . The tagline is” Desh Badlo Duniya Bado
Knowledge Management MGT-403
– please use your own words don’t copy and paste (no plagiarism)
– All answered must be typed using Times New Roman (size 12, double-spaced)
– I want answer with APA reference, references at least 5
Besides other materials like journal papers, report, and research articles, students are advised to read chapter 1, chapter 2 and chapter 3 thoroughly from the book prescribed for this course. Students must use proper references to justify their assignment work.
Introduction: Explain the concept of knowledge management?
Write a paragraph highlighting the evolution of knowledge management and how knowledge management can help the organisation in present day competitive world?
How is tacit knowledge different from explicit knowledge? Why is it important for the organisation to capture both Tacit as well as explicit knowledge?
Knowledge management cycles and Models:
Discuss in detail Bukowitz and Williams KM cycle?
Describe how the major types of knowledge (i.e., tacit and explicit) are transformed in the Nonaka and Takeuchi knowledge spiral model of KM. Use a concrete example to make your point (e.g., a bright idea that occurs to an individual in the organization).
a. Which transformations would prove to be the most difficult? Why?
b. Which transformation would prove to be fairly easy? Why?