AKBARALLYS

Case Studies in Marketing

Shreya Jain

HISTORY In the year 1897, Akbarally's came in to existence. They

started with Wockhard Pharmaceuticals.

They started India’s first departmental store in 1957.

They acquired Worli Chemical Works in 1959.

Started with Furniture outlet in 1963.

CURRENT SITUATION

We created a brand image but lack of innovation and expansion let to our downfall. However, we will now try and remarket the brand. Along with remarketing, our aim is to revive this brand.

Vision Our vision is to be the best retail outlet in India.MissionServe our customers with the best quality.

Tagline

Logo

Akbarallys, “The Ultimate Experience”

Our 3 main objectives: •To revive the brand.•To be innovative.•Customer satisfaction

STRENGTHS•FIRST TO BRING THE IDEA OF SHOPPING UNDER ONE ROOF•ESTABLISHED A STRONG BRAND IMAGE

WEAKNESSES•IGNORED THE POWER OF ADVERTISING•OUTDATED PRODUCTS•THE CONCEPT OF FRANCHISE ARRANGEMENTS WAS IGNORED

OPPORTUNITIES India is fast emerging

as retail hub for top brands

Organized retail is only 4.5% of total Indian retail industry

THREATS Strong competition

from unorganized retail sector in India

Growing number of organized retail outlets, like Pantaloons, Westside, Hypercity, Big Bazaar, etc.

MARKETING MIX

PRODUCTPLACEPRICEPROMOTION

Product

•What products we offer?1. Garments for men, women and kids2. Cosmetics for Women3. Accessories

•Features of Akbarallys1. Wide Range of Products2. Organized Department wise3. Central Location4. Huge Investment in Redesigning the Outlet

PRICING STRATEGY

• Price concerns the amount of money that customers must pay in order to purchase your product

• It is important to have a pricing strategy that is tailored to your target market

• At Akbarallys, our pricing strategy will be Penetration Pricing

• Penetration pricing is the pricing technique of setting a relatively low initial entry price, often lower than the eventual market price, to attract new customers on some products

Price

List of Brands that will be available at Akbarallys:Men Garments: Arrow, Blackberry, Zodiac, X Factor, Indigo Nation, Color Plus, Allen Solly etc. Women Garments: Bebe, Forever New, Mango, Zara, Vero Moda, etc.Kids: Ruff, Ben 10. Cosmetics: Lakme , Maybelline , L’Oreal , etc. Price Range:Men’s garment will range from Rs. 500 to Rs 30,000.Women’s garment will range from Rs. 450 to Rs. 50,000.Kids’ garments will range from Rs. 250 to Rs. 10,000.Cosmetics will range from Rs. 500 to Rs. 10,000.(Price will vary according to the brand*) 

Place •We have decided to open only one Akbarallys’ outlet at the moment.• The main reason for doing so is that we are being cautious about the response we’ll get from the customers.• We’ll gradually increase our number of outlets

Location of the Outlet:Link Road, Bandra

We also have akbarally’s website for online shopping

Promotion

Advertising through:

Our approximate advertisement schedule:

•1st month (2 full page advertisements for alternate weeks),•2nd month (2 Small-size ads), •3rd month (1 full page ad and 2 small ads), •4th month (1 full page ad and 1 small size ad).

Facebook Advertisement$30/Day for 10-15 daysRs. 30,000

Distribution of Pamphlets Rs. 20,000

Bulk SmsRs. 45,000

Other Advertisement Tools

Akbarally

s

LIKE US ON

FOLLOW US ON

www.facebook.com/Akbarallys/

@AkbarallysIndia

Where we did not advertise?

Total Advertising Cost

TOI

Bulk Sms

Facebook Ads

Pamplets

Total

90,00,000

45,000

30,000

20,000

90,95,000

Sales Promotion

Akbarallys

Membership Cards

Discounts and offers

Market Segmentation

1. GEOGRAPHIC (Region, Locality) – Only in

Mumbai initially

2. DEMOGRAPHIC (Age, Gender, Income) - All

age groups, middle income to higher income

group

3. PSYCHOGRAPHIC (Life Style, Personality)

4. BEHAVIORAL (Readiness, Buying Motives)

Targeting A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy.

Our target audience will be classified into 2 categories:

1. Middle class people2. Higher income group

1. New outlets at different locations in all the metropolitan cities across India

2. Product extension which will include consumer durables and fast moving consumer goods

Thank you