nikhil sharma-0547-creating & sustaining value through brand
TRANSCRIPT
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"CREATING AND SUSTAINING VALUE THROUGH BRANDING FOR
MALLS
A DISSERTION SUBMITTED IN PARTIAL FULFILLMENT OF THE
REQUIREMENT FOR THE AWARD OF MBA DEGREE OF
BANGALORE UNIVERSITY
BY
Nikhil Sharma
(Reg no: 05XQCM6053)
Under the guidance and supervision
Of
Prof. Shinu Abhi
Professor
M P Birla Institute of Management
Bangalore
M P BIRLA INSTITUTE OF MANAGEMENT
(Associate Bharatiya Vidya Bhavan)
BANGALORE
MAY 2007
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DECLARATION
I hereby declare that this dissertation entitled Creating and Sustaining value
through Branding for Malls is the result of my own research work carried
out under the guidance and supervision of Prof. Shinu Abhi, MPBIM
Bangalore.
I also declare that this dissertation has not been submitted earlier to any
Institute/Organization for the award of any degree or diploma.
Place: Bangalore
Date: - (Nikhil Sharma)
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PRINCIPAL CERTIFICATE
I hereby certify that this dissertation entitled Creating and Sustaining value
through Branding for Mallshas been prepared by Nikhil Sharma under the
guidance and supervision ofProf. Shinu Abhi, Professor, M.P.Birla Institute of
Management, Bangalore.
Place: BangaloreDate: (Dr. Nagesh S Malavalli)
Principal
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GUIDES CERTIFICATE
I hereby certify that this dissertation entitled Creating and Sustaining value
through Branding for Malls is the result of research work carried out by
Nikhil Sharma under my guidance and supervision.
Place: BangaloreDate: (PROF. SHINU ABHI)
Guide
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ACKNOWLEDGEMENT
I am extremely thankful to all those who have shared their views, opinions,
ideas and experiences with me in carrying out this research work. I am
particularly indebted to Prof. Shinu Abhi, Professor, M P Birla Institute of
Management, Bangalore for his guidance.
I extend grateful thanks to Dr. Nagesh.S.Malavalli, Principal, M P Birla
Institute of Management, Bangalore for having provided me with the necessary
academic support.
(Nikhil Sharma)
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List of Tables
Table
no. Title
Page
no.1 Malls that comes to mind of people 24
2 Reason of awareness about malls 25
3
Frequency of visits to mall in past one
month 26
4 Reason why people visit the malls 27
5 Duration of stay in malls 28
6 Ranking of aspects of Malls 29
7
Main reason which arouse interest in
malls 31
8
Various categories in malls that interest
customers 32
9 Quality of services in malls 33
10 Parking Facilities at Mall 34
11 Cost of parking facilities in malls 35
12 Overall quality of life in malls 36
13
Customers opinion about the location of
malls 37
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LIST OF GRAPHS
Graphno. Title Pageno.
1 Malls that comes to mind of people 24
2 Reason of awareness about malls 25
3
Frequency of visits to mall in past one
month 26
4 Reason why people visit the malls 27
5 Duration of stay in malls 28
6 Ranking of aspects of Malls 30
7
Main reason which arouse interest in
malls 31
8
Various categories in malls that
interest customers 32
9 Quality of services in malls 33
10 Parking Facilities at Mall 34
11 Cost of parking facilities in malls 35
12 Overall quality of life in malls 36
13
Customers opinion about the location
of malls 37
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RESEARCH EXTRACT
Retail is India's largest industry, accounting for over 10 per cent of the country's GDP
and around eight per cent of the employment. Retail industry in India is at the crossroads. It
has emerged as one of the most dynamic and fast paced industries with several players
entering the market. But because of the heavy initial investments required, break even is
difficult to achieve and many of these players have not tasted success so far. However, the
future is promising; the market is growing, government policies are becoming more
favorable and emerging technologies are facilitating operations.
Background of the study:
The study was conducted to know the preferences of customers who visit the malls. A
survey was conducted to get the information from the customers who visited the mall. After
the collection of data it was tabulated and arrived to some conclusions.
Statement of Problems:
The statement of the problem is Creating and Sustaining Value through Branding for
MALLS.
Need and importance of the study:
This project work is undertaken as a part of academic requirements for degree of
Master of Business Administration. It is titled as Creating and Sustaining Value through
Branding for Malls
This research, analyzes some factors and features of the various Malls located in
Bangalore City.
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Objectives of the study:
1. Top of the mind Mall in Bangalore.
2. To know the ratings given by the customers for various aspects of Malls in
Bangalore.
3. To know the reasons for which the customers visit Malls in Bangalore.
4. To know the customer service levels in Malls.
5. To know the main purpose of visit to the Malls.
Research Design and Methodology:
Type of Research: Descriptive Research
Type of Data:
1. Primary Data: Primary data regarding the information about the malls werecollected with the help of Questionnaire through direct contact with
Customers.
2. Secondary Data: Secondary data are those which already exist and are usedfor the purpose of the study.
Data collection: Questionnaire Method.
Methodology: A structured questionnaire for the purpose of collecting necessarydata has been used. A non probability, simple random consisted of 120
respondents in various Malls
Type of Questionnaire: Structured Questionnaire.
Survey Method: Personal Survey.
Type of Survey: Sample Survey.
Sampling: Non Probability and Convenience Method.
Sampling Unit: Customers at Malls.
Sample Size: 120
Geographical Area: Famous Malls in Bangalore.
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The real story of India's retail boom
Modern retail has entered India as seen in sprawling shopping centers, multi-storied
malls and huge complexes offer shopping, entertainment and food all under one roof. The
Indian retailing sector is at an inflexion point where the growth of organized retailing and
growth in the consumption by the Indian population is going to take a higher growth
trajectory.
The Indian population is witnessing a significant change in its demographics. A large young
working population with median age of 24 years, nuclear families in urban areas, along with
increasing working-women population and emerging opportunities in the services sector are
going to be the key growth drivers of the organized retail sector in India.
The most important thing that a family entertainment centre offers the promoter is
traffic generation. While the benefits of mixing entertainment with retail are easy to see,
shopping centre owners and managers as well as entertainment operators realise that, more
often than not, there are obstacles to overcome. One of the disadvantages of putting an
entertainment centre inside a mall involves the hours of operation. A mall's operating hours
are generally not the same as those of the entertainment centre.
A value-packed shopping experience includes the sense of anticipation felt as the
customer thinks of visiting the entertainment-enriched retail centre. It also includes the
customer's heightened experience as he moves happily around a shopping world laced with
visual, auditory, and other sensory and emotional delights. Finally, the customer remembers
the shopping experience and expands that memory into anticipation of the next visit.
Exploitation of entertainment promises to redefine how the consumer perceives value.
As a result, retailing is going through a massive format change which promises to alter the
shopping experience, perhaps permanently.
Most analysts agree that retailers would have put in place global operational metrics.
One way to measure efficient operations is the inventory turns ratio. A comparison of
the US and India is revealing. Where, in the US, the retail sector has an average inventory
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turns ratio of about 18 (some retailers like 7-Eleven score over 50), most Indian retailers
range between four and 10, says KPMG.
The other key metric -- stock availability -- is telling too: Where global retailers
achieve more than 95% availability of all stock-keeping units on the retail shelves, their
Indian counterparts cut a rather poor figure at 5-15%.
There are other areas that retailers would have to master -- such as reaping economies
in procurement and transportation, bulk storage, trend forecasting to minimise inventory
levels -- before they can truly claim to have arrived.
Early entrants such as Shopper's Stop and RPG Group are acutely aware of this truth:
both took years to bring their supply-chain models to the present efficiency levels. Even a
player like the Dubai-based Landmark Group -- which has been operating in India for eight
years now -- insists it still needs to bring their ERP solution system up to speed.
Others may face new, unexpected problems. Scalability is what the likes of Kabir
Lumba, Executive Director, Lifestyle International, are banking on for growth. The group,
which currently runs 12 stores, plans to open 45 more stores at a cost of Rs 450 crore (Rs
4.50 billion) over three years. Lifestyle's stores attract 40,000 customers every day, and are
projected to close fiscal 2006-07 with a sales turnover of Rs 500 crore.
Again, when it comes to technology adoption and usage, there's a yawning gap
between the Indian retailers and those in the West.
According to a recent survey conducted among the country's top retailers by KPMG,
while retailers like Wal-Mart and Metro have started using RFID technology (offering high
inventory visibility), retailers in India are still to take to bar coding. As systems grow in size
and complexity, retailers would have set aside increasing amounts as IT spend.
The challenge posed by the global retailers is clearly formidable. But local retailers'
more intimate understanding of their customer base will help them survive.
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Besides, even the world's largest retailers have slipped when it comes to the emerging
markets -- Wal-Mart was forced to rework its model in Mexico and a similar thing happened
to Carrefour in China, where it had to revise its strategy. Also, Wal-Mart's track record in
markets such as South Korea and Germany has been nothing to write home about.
The other big issue for retailers is people. Analysts agree that the manpower shortage
will get acute as retail spreads beyond the metros. Says Sanjiv Goenka, Chairman, RPG
Group: "The biggest challenge for us and, for that matter, any retailer will be getting trained
personnel."
India's vast middle class and its almost untapped retail industry are key attractions for
global retail giants wanting to enter newer markets. Driven by changing lifestyles, strong
income growth and favorable demographic patterns, Indian retail is expected to grow 25 percent annually.
Retailing in India is gradually inching its way toward becoming the next boom
industry. The whole concept of shopping has altered in terms of format and consumer buying
behavior, ushering in a revolution in shopping in India.
The Indian population is witnessing a significant change in its demographics. A large
young working population with median age of 24 years, nuclear families in urban areas,along with increasing working-women population and emerging opportunities in the services
sector are going to be the key growth drivers of the organized retail sector in India.
It is true that the rise of retail organizations would yield many positive results for
India, such as, creating more jobs, bringing numerous goods to the consumers at a reasonable
price and so on.
Modern retail in India could be worth US$ 175-200 billion by 2016. With the
economy booming, competition in the marketplace is fierce. According to 'Retail in India
Getting Organized to Drive Growth', a report by AT Kearney and the Confederation of
Indian Industry, retail is one of India's fastest growing industries with a 5 per cent
compounded annual growth rate and expected revenues of US$ 320 billion in 2007. Rising
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incomes, increasing consumerism in urban areas and an upswing in rural consumption will
fuel this growth to around 7-8 per cent.
KSA-Technopak, a retail consulting and research agency, predicts that by 2010,
organized retailing in India will cross the US$ 21.5-billion mark from the current size of US$
7.5 billion.
Retailers in India are the most aggressive in Asia in expanding their businesses, thus
creating a huge demand for real estate. Their preferred means of expansion is to increase the
number of their outlets in a city, and also expand to other regions.
Deutsche Bank's research report on 'Building up India' says India's burgeoning middle
class will drive up nominal retail sales through 2010 by 10 per cent per annum. The country
may have 600 new shopping canters by 2010.
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A winning combo
The most frequently encountered version of the pure entertainment centre consists
of a multi-screen cinema; two or three high-atmosphere, brand name restaurants; perhaps a
nightclub or two; and an eclectic mix of tenants. Tenants are of local, regional and/or
national repute and offer unique goods and services, or they present ordinary goods in a
unique manner which attracts the customers.
Retail Formats:
There are different kinds of retail formats which are practiced by various firms
depending upon their particularity
Cash and Carry: This retail format focuses on small-wholesale customers who pay
in cash. Here arise additional functional requirements for the automation system:
prompt processing directly at the points of purchase; and two or more price-lists for
retail and small-wholesale customers.
Hypermarket: Among the specific features of a hypermarket is the wide range of
goods, attention to service and to the display of the goods on the shelves, as well as
the complicated systems of gaining loyal customers. Allows a hypermarket to workeffectively with a huge variety of goods, even in the case of decentralised pricing.
Discounter: The main competitive advantage of a discounter is low prices, which is
possible due to the considerable supply volumes. To be able to sell such volumes of
goods one needs large number of shops, prompt data exchange between them and the
head office, as well as an effective operation of the distribution centre.
Clothing Chain: Clothing chains have a number of specific features; support of
various configurations of goods (size, colour, collection), organisation of complex
marketing campaigns and customers loyalty systems. This allows for prompt
adjustment, procurement and pricing policy, as well as personifies the relations with
each customer.
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Mall culture in India:
For the Indian mass affluent, the call of the mall is proving irresistible. Malls
increasingly dot the urban Indian landscape and their packed parking lots, busy food courts
and restaurants, crowded anchor stores and noisy gaming arcades bear testimony to this
alluring call.
Some would call it consumerism in action, but it is assumed as celebration of mass
affluence.
The secret of the lure of the mall lies in its mass appeal - it has something on offer for
everyone in the family. There is a wide range of shopping experiences - bargains and
discounts or high-end brands for couples, gaming and other amusement facilities for kids, a
large choice of cuisines for family meals, and, of course, the multiplex theatres.
In many ways, malls reflect the state of our society and act as agents of change.
Rising incomes and busier lifestyles are creating the space for malls in the lives of the urban
mass affluent.
Leisure time is limited and a visit to the mall can do a lot for a busy family - domestic chores
like grocery shopping are taken care of and food courts and restaurants save the bother of
cooking dinner after hectic shopping apart from keeping children entertained.
Combine this with the consumer's rising purchasing power and his increasing focus
on value proposition rather than just price, and malls suddenly start becoming more relevant.
As Indians keep discovering malls, the retailers will also discover what they want and
evolve the malls. "In the near future, there will be a clear-cut categorization of malls. There
will be premium, luxury and value malls and existing formats will change radically according
to size and category."
The mall culture is growing deeper because of rising income level, changing age
profile, low interest rates, changing consumption pattern and attitudinal shifts. Average
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household income even in urban areas has grown at 5% per annum compounded annually
over the last decade. In nominal term, if inflation is included, the growth rate is 10% per
annum.
At the same time, numbers of young spenders are also increasing which likely to
reach to 312 million from the current level of 260 million. Availability of cheap loan has
fuelled the consumption expenditure in the country. It has changed the consumption pattern.
The share of expenditure on discretionary items will rise which would encourage
consumerism in the country.
Mall will further fuel the discretionary spending as it would expose the customers to
new items. Mall would provide suitable environment, particularly to the age group between
15 to 45, for shopping. Therefore, the expectation is that not only the foot-fall but the
business would also increase substantially in mall in coming years.
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Basics of Retailing
What is Retailing?
Retailing does not contain a single definition because of its customer orientation and
sensitivity to environmental pressures. The definition advanced 1950s suggested that
retailing is selling goods in small quantities to households. A great deal of progress has
taken since then and with the dynamics of the environment, philosophic and institutional
parameters, retailing is defined from three points of view
The discipline of retailing: As a social science discipline, retailing is the study of the
interaction of consumers and their social institutions as they conduct transactions (that is
exchange of goods, services, ideas) in the market place (broadly defined).
The science of retailing: Retailing as a science is the attempt to organize our knowledge
about retailing through observation, study and experimentation and to use this information in
broadening our base of knowledge.
The managerial point of view: Retailing is an attempt to manage transactions at the point of
ultimate consumption for the benefit of the organization and society
Classification of Retailing
Retailing is extremely diverse. Although all retail stores share the common focus of
selling to ultimate customers, retail stores have different formats, sizes, policies and
marketing strategies. This has led to various classification schemes to categorize retail stores.
They are:
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Classification of Retailing
1. Service versusproduct retailing
2. By type of
Merchandise
Automotive dealers Motor vehicle dealers
Miscellaneous automotivesupplyAutomotive DealersdealersAuto and home supplystores
Furniture, home furnishing andequipment dealers
furniture, home furnishingand Householdappliances, radios and TV
equipment dealers storesOther stores
Building materials hardwaregarden supplies and mobile homedealers
Building material storesHardware StoresOther stores
Apparel and accessories stores Mens and boys clothingand furnishingsWomens clothingSpecialty stores Furriers
Shoe storesOther apparel andaccessories store
Food stores Grocery stores Other foodstores
Gasoline service stations
General merchandise stores Department storesVariety storesOther general merchandisestores
Liquor stores
3. By Method of Regular store
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Mail order By catalog sellingBy advertising in regularmediaBy membership club plans
House hold contact By house to housecanvassingBy regular delivery routeserviceBy party plan selling
consumer contact
Vending machine
Urban Central business districtSecondary business districtString street locationNeighborhood location
Controlled (planned)shopping centerPublic market stalls
Small city Downtown neighborhood
4. By type of location
Rural stores
5. by type of servicerendered
Full serviceLimited service (cash and carry)self-Service
6. By legal form oforganization
proprietorshippartnership
Corporationspecial types
7. By managementorg or operationaltechnique
UndifferentiatedDepartmentalized
8. By margin andturnover
Single unit independent store
Multi unit retail organization
9. By type ofownership
Manufacturer owned retail outletsconsumer Co operativesFarmer owned establishmentCompany owned storesGovernment operated storesPublic utility Co stores
10. By size of Est. By number of employees
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By annual sales volume
11.By degree ofintegration
Nonintegratedintegrated with wholesalingfunction
Integrated with manufacturing
Six Global Formats of Retailing
The major formats of retailing currently being employed are
Formats Characteristic Example
Supermarket 30%of the grocery market. 4000-20000square feet in size, strong focus on foodand personal care
Tesco, Safeway
Hypermarket 40000 square feet plus, out of the townstore that stocks grocery (typically 50% ofsales and space), apparel, electronics andconsumables
Super centers - Wal-Mart
Warehouse Club Targets large institutional buyers and
household looking to buy large quantities.captures 10%of the grocery market
Sams Club
Discounters Stripped supermarkets, offering a basicrange of grocery products at greatdiscounts
Conveniencestores
400-2000 square feet, self service format,account for the 10%of the grocery market
Moms and Pops This traditional format, next-door stores
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Influence of 6 Ps of Retail Marketing on Retail Marketing
Strategy in the Indian context
Price
For the Indian consumer price is the most important issue which the retailers need toaddress critically. It has been observed that the effects of price chances are more immediate
and direct and the appeals based on price are the easiest to communicate to prospective
buyers. However competitors can easily react to appeals based on price than those based on
product benefits and imagery. Nevertheless price is considered to be the most significant
among the decisions of the marketing mix for the branded product.
Product
The basic aim of the Product or Merchandising strategy is to serve the customer in a
better way than any comparable retailing organization in its market segments. The five
rights of successful merchandising are to ensure that the customer is offered the right
merchandise, at right place, at right price, at right time and in the right quantities. The
peculiar characteristic shown by the Indian consumer is his habit of comparing the products
of various brands and then arriving at the purchasing decision. This makes the retailer to
store appropriate kinds of merchandise in the retail store.
People
Todays Indian customer is looking for personalized attention in this world of mass
merchandising and mass marketing. This is where the personnel at the retail store plays a
special role in making the customer feel that he is the most important customer to them. The
basic quality that these store personnel is to have empathy with the customer, understand his
problems and deliver the services and solutions to his problem in a better way.
Presentations
Consumer responds to more than a tangible product or service. Thus retailers cannot
neglect the psychological effects of their outlets on consumer purchasing behavior. These
effects are called silent language of communication. Let it be any customer in the world the
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quality of the retail store is usually associated with the way the retail store is presented to
him and the Indian customer is no exception to it. This makes the retailer to present his
store to the Customer in a better way.
Place
The basic reason for the sustainability of mom-n-pop store in India is the easy of
accessibility they provide as they are located very much near to the customers. This makes
the location an important factor which the retailer needs to look into to give ease of
accessibility and convenience to the customers and eat away the market share of mom-n-pop
store.
Promotion
Just as price is the most important factor for Indian consumer so is the promotion.
The promotional schemes not only include the advertising schemes but also the discount
schemes for which the Indian customer pays the most attention. This makers the retail store
to keep on developing continuous promotional schemes to motivate the customers for
buying.
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Importance of Retail branding to Retail Marketing Strategy
Facing a marketplace overflowing with stores, retailers have to search for new ways
to grow. Vertically integrated retailers have found branding as a new Way.
The reasons for brands working for customers are:
They simplify everyday choices (a shopper who regularly buys Crest doesnt have to
agonize continually over toothpaste)
Reduce the risk of complicated buying decisions ( mainframes and Boeing jets arc
safe choices)
Provide emotional benefits (Tiffany)
Offer a sense of community (Apple Computer and Saturn)
Thus it is impossible to imagine a retailer surviving and flourishing in the years to come
without creating a genuinely robust brand. Establishing and communicating it is more
difficult for multibrand retailers than for their single-brand counterparts, but brand building is
essential for both. Multibrand retailers must take back from their vendors full responsibility
for managing their banner brand. Only then can they build and maintain all of the value-
creation potential of the names of their stores.
But the picture is quite different for retailerscategory killers, department stores,
discounters, and the likethat sell a range of other companies brands. Although somemultibrand retailers have managed to command a national brand identity (in Searss case, one
founded on reliability). Many suffer from a lack of brand distinctiveness independent of the
brands they carry. In fact many multibrand retailers have lavished more thought and care on
those brands than on their own banner.
But the multibrand retailers like their single-brand Counterparts, can and must create a brand
personality with which consumers want to identify and rethink the underlying business
system that is needed to deliver it.
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Strategic Decision framework Opening a retail Store
The first and the foremost thing which needs to he done while opening a retail store is
to do a detailed strategic planning. The various issues covered in this strategic planning are
Self Assessment & Business Choice
The first step in Self Assessment & Business Choice is to evaluate your strengths and
weaknesses vis--vis your target segment. The other important questions, which need to be
addressed, are
o What is the type of retail store that will fit your strengths?
o What will make the retail store unique?
o What will the retail store offer for customers?
o How can you capitalize on the weaknesses of the customers?
o What will be the differentiating factor for the retail store and in what way you can
capitalize on competitors weaknesses?
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Brand
A brand is a product from a known source (organization). The name of the
organization can also serve as a brand. The brand value reflects how a product's name, or
company name, is perceived by the marketplace, whether that is a target audience for a
product or the marketplace in general (clearly these can have different meanings and
therefore different values). It is important to understand the meaning and the value of the
brand (for each target audience) in order to develop an effective marketing mix, for each
target audience. The value of the brand for a web-based company may have heightened
importance due to the intangible nature of the web.
Building a Brand for Market Success:
When people hear the name, they conjure up a set of impressions that influence how
they think and buy. Those thoughts define the brand for a company.
The brand resides in the customer's mind as a result of all the impressions made by
encounters with the companys name, their logo, their marketing messages, and everything
else that people see and hear about a companys Business.
A brand is also a kind of promise. It is a set of fundamental principles as understoodby anyone who comes into contact with a company. A brand is an organization's "reason for
being"; it is how that reason is expressed through the various communications to its key
audiences, including customers, shareholders, employees, and analysts. A brand should also
represent the desired attributes of a company's products, services, and initiatives.
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Success strategies for focused brands
Two main strategic imperatives have helped lt brands succeed.
The first is to strive to own the category and to lead in its development, which
means making a brands personality thoroughly distinct and then constantly seeking to
broaden the way consumers think about the category and the brand.
The second is to establish the brand as truly pervasive by seeking out every possible
sales opportunity swarming sales alliances to build presence quickly. Channels and
geographies to maximize penetration and using
Owning and broadening the category
For this first step is developing distinct personalities. After this focus brands should
always seek to broaden the definitions of their categories. Although they are constrained by
the way consumers think about those categories, they can cautiously at least do things to
change those ideas. Redefining categories opens the playing field for a category brand.
Capturing all occasion
Focused brands also drive shareholder value by going alter every possible
opportunity. Coca-Cola is one of the best examples of a company that swarms sales
channels and geographies not only vending machines, fountain service, supermarkets, and
convenience stores, but also movie theaters, video stores, and even taxis, where the company
places coolers.
Focused brands can create additional value by using alliances to expand their
presence rapidly. Meanwhile Intel, perhaps the classic example of a company that uses
alliances, has collaborated with PC hardware manufacturers to establish the first and
strongest real brand in the computer chip industry.
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Success strategies for diversified brands
Successful diversified brands pursue three strategies: they find and constantly
reinforce the golden thread that knits together their diverse businesses; they invest in buildinghigh-credibility personalities; and they systematically leverage their brands by cross-selling
products to customers and by restructuring industries where existing brands are weak.
Creating the golden thread:
Design defines a core part of the brands personality and ensures that customers
always experience the brand in a consistent way. Disneys golden thread is the concept of
wholesome fun.
Building highcredibility personalities
All brands must have characteristics that enhance their credibility and inspire trust in
consumers. Rut broadly diversified brands seem to distinguish themselves most in the areas
of trustworthiness, leadership, and intelligence.
Leveraging aggressively
Having found the golden thread and built a personality around it, diversified brands
move both to cross-sell and to claim as their own new industries where brand intensity is low
and where their brand thus enjoys a competitive advantage.
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Branding:
BRANDING is the term used to describe all the things a marketer does/can do to
affect the brand image, and hopefully create the associations and experiences that will make
the BRAND IMAGE a strong one. Of course, there's only so much a marketer can do to
communicate the essence of a brand. It's in the customers' minds, and only the customers
control that.
Understand this way, a BRAND is a promise -- a promise of an important benefit,
delivered the same way, time-after-time. It's not something the marketer says or does. It's
what the target audience sees, hears, experiences, and believes to be true.
BRAND and BRAND IDENTITY and BRAND IMAGE are very close in meaning.
You use BRAND when you're talking about the product or company itself, and you use
BRAND IDENTITY or BRAND IMAGE when you're talking about the way people perceive
the product or company.
Brand Image:The perception of your product or your brand by the consumer.
Brand Equity:
Brand Equity is an intangible asset that depends on associations made by the
consumer. There are at least three perspectives from which to view brand Equity:
Financial terms: One way to measure the Brand Equity is to determine the price
premium that a brand commands over a generic Product. However, expenses such as
promotional costs must be taken into account when this method is used to measure
Brand Equity.
Brand Extensions: A successful brand can be used as a platform to launch related
products. The benefits of brand extensions are the leveraging of existing Brand
Awareness thus reducing the advertising expenditures, and a lower risk from the
perspective of the consumer.
Consumer based: A strong brand increases the customers attitude strength toward
the product associated with the brand. Attitude strength is built by experience with a
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product. The customers associations and lead to perceived quality, inferred attributes,
and eventually brand loyalty.
Brand Value:
Brand value is the dollar value of a brand, calculated as net present value (NPV), or
todays value of the earnings the brand is expected to generate in the future. Like any other
financial value, brand value is, at a point in time, based on the assumptions and information
available at that point in time. Brand value is calculated according to the most widely
accepted and used valuation principles. This makes brand value comparable to business- and
all NPV-based asset values.
Why are brands valued?
The purpose of the valuation is to demonstrate to the business community that brands
are very important business assets and, in many cases, the single most valuable company
asset. We also aim to make branding and marketing; key business issues that have direct
impact on shareholder value.
Advantages of Branding:
Well defined and carefully managed brands provide many competitive advantages to
firms everyday:
Increased initial sales
Repeat purchases
Customer retention during adversity
Higher prices
Greater message receptivity
Increased new product acceptance
Branding Advantages can help you gain the competitive advantage today.
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Literature Study
The first step of any research study is literature study. Based on the study objective
during the literature study the specific areas and issue up on which data gathering will be
decided. It is a paramount importance because it equips the researcher with macro view of
micro issues.
It gives exhaustive information to the researcher in the area and provides diversified
view on particular subject. Academic journals, conference proceedings, report books etc are
must e tapped depending on the nature of the problem. It is the process that one source would
lead to another. The literature review encompasses different kinds of information sources
concerning the identification of various reason behind the assessment if service quality. It
started with search in
Internet and textbooks and other relevant magazines. The earlier studies, if any which are
similar to the study, concerning the problem at hand must necessarily be surveyed and
examined before a definition of the research problem is given. This is done to find out what
data and other materials, if any are available for optional purpose. All this will enable a
researcher to take new strides in the field for furtherance for knowledge, i.e., he can move up
starting from the existing premise.
The central idea in review of literature is data gathering. So, review of literature is
carried on. A researcher should carefully scrutinize the available information and use
discretion, to find out whether the gathered data is adequate and sufficient for the problem.
The references were made and extracts were drawn from old project reports and
ICFAI journals. The summary, questionnaire design etc are made with the reference from
those reports.
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DATA ANALYSIS AND INTERPRETATION
Table No.1
This table shows the Malls name that come to minds of People:
Sl No Malls in Bangalore No. of Respondents Percentage
1 Forum 53 44%
2 Garuda mall 32 27%
3 Bangalore Central 24 20%
4 Sigma Mall 6 5%
5 EVA Mall 5 4%
Total 120 100%
Chart No:1
Best mall that comes to the minds of People
44%
27%
20%
5% 4%Forum
Garuda mall
Bangalore Central
Sigma MallEVA Mall
Inference: From this table it is clear that most of the respondents know about Forum, Garuda
and Bangalore Central Mall than any other Mall in Bangalore. More than 40% of people
know about Forum when compared with any other Mall. Respondents are aware of Forum
because it was the first Mall built in Bangalore which gave a different look about shopping to
Bangaloreans.
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Table No. 2
This table depicts the reasons of awareness about the Malls:
Sl No Particulars No of Respondents Percentage
1 Friends 64 53%
2 Ads 7 6%
3 News papers 28 23%
4 Any other 21 18%
Total 120 100%
Chart No 2
Shows the means through which people came to know about the Malls:
0
10
20
30
40
50
60
P
ercentages
Friends Ads News
papers
Any other
Media
Percentage
Inference: From the above table and Graph we can infer that approximately 53% of the
respondents were aware of the mall only through friends. We can say that word of mouth
publicity contributes very much towards the awareness of the malls.
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Table no. 3
This table shows the frequency of visit to the Malls in the past one month
Sl No Particulars No of Respondents Percentage
1 Once 41 34%
2 2-4 Times 62 52%
3 More than 4 Times 17 14%
Total 120 100%
Chart No. 3
Frequency of visits to Malls in the past one Month:
0%
10%
20%
30%
40%
50%
60%
Once 2-4 Times More than 4
Times
Percentage
Percentage
Inference: We can infer from the above table and graph that approximately 52% of the
respondents visited the Malls 2-4 times in the last one month.
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Table No 4
This Table shows the reason why people visit the mall:
Sl No Particulars No of Respondents Percentage
1 Window Shopping 13 11%
2 Shopping 48 40%
3 Entertainment 41 34%
4 Food 18 15%
Total 120 100%
Chart No 4
The Main reason why people visit the Malls
11%
40%34%
15%
Window Shopping Shopping Entertainment Food
Inference:From the above graph it can be inferred that most of the respondents went to the
Mall for Shopping and entertainment. Malls have become a good place for entertainment
many people usually go to the mall with the mind of shopping but when they feel the
atmosphere they think that it should be meant for entertainment rather than for shopping.
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Table No 5
This table shows the duration of stay in the Mall:
Sl No Particulars No of Respondents Percentage
1 Less than 1 Hour 20 17%
2 1-3 Hours 57 48%
3 More than 3 hours 43 35%
Total 120 100%
Chart No 5
How long will the customer stay inside the Mall
0%
5%10%
15%
20%
25%
30%
35%
40%
45%
50%
Percentage
Less than 1 Hour 1-3 Hours More than 3 hours
Percentage
Inference: From the above table we can infer that most of the respondents stayed in the
mall in the Range of 1-3 hours during their Visit. People stayed in the Mall because they feel
that malls are good to spend time rather than spending time in other places. In malls people
feel that they can spend time with leisure.
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Table No 6
How do customers rate the following aspects of a Mall:
Particulars Cumulative Score Ranks
As a Place to Shop 4.75 2
As a place to Eat 4.5 3
As a place for entertainment 5.38 1
Calculation: As a place to Shop
= (60*5+21*4+20*3+12*2+7*1) =475
Cumulative Score/100
475/100=4.75
As a place to Eat
= (26*5+48*4+36*3+10*2+1*0) =450
450/100=4.5
As a place for entertainment
= (80*5+23*4+12*3+5*2+0*1) =538
538/100=5.38
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Chart No 6:
4
4.2
4.4
4.6
4.85
5.2
5.4
CumulativeScore
As a Place to Shop As a place to Eat As a place f or
entertainment
Cumulative Score
Inference: Many of the people who visit malls come for entertainment for which it is not
meant for but since malls are built for generating revenues from shopping. It is good that
people are going to malls for entertainment purpose. Which in turn also will produce revenue
for the Malls.
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Table No 7:
This table represents the main reasons which arouses interest in Malls
Sl No Particulars No of Respondents
1 Variety of Shops 31
2 Shops are convenient & Accessible 41
3 Selection of Restaurants 22
4 Good Place to Socialise 6
5 Entertainment/Movies 16
6 Good customer Service 4
Total 120
Chart No 7
This chart shows the reasons which arouses interest in Malls
31
41
22
6
164
Variety of Shops
Shops are convenient &Accessible
Selection of Restaurants
Good Place to Socialise
Entertainment/Movies
Good customer Service
Inference: From the above table and graphs we can infer that the main reason which
interests people to visit malls is that the shops present there are convenient and accessible
.This proves that to increase the number of footfalls it is imperative to have a large number of
shops which provide avenues for shopping.
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Table No 8
This table represents the various categories in a Mall that interests the customer:
Sl No Particulars No of Respondents Percentage
1 Clothing 31 26%
2 Jewellery 4 3%
3 Electrical/Electronic
Appliances
53 44%
4 Food 12 10%
5 Movies 20 16%
Total 120 100%
Chart No 8
This chart represents the various categories in Mall that is interested for the customer:
0%
10%
20%
30%
40%
50%
Clothing Jewellery Electrical
Appliances
Food Movies
Clothing Jewellery Electrical Appliances Food Movies
Inference: From the above table and graph it can be inferred that the main reason of interest
for purchase is Electrical/Electronic Appliances (ex: i-pod, MP3 players, Playstation).Followed by purchase of clothing.
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Table No 9
This table studies the how Respondents feel about the quality of service when they visit
Malls:
SL No Particulars No of Respondents Percentage
1 Satisfied 67 56%
2 Dissatisfied 42 35%
3 Unsure 11 9%
Total 120 100%
Chart No 9
This chart shows how the customers feel about the quality of service to respondents at Malls:
56%
9%
35%
Yes No Unsure
Inference: From the above table we can infer that approximately 56 % of the respondents
are satisfied with the quality of service they receive when they visit the malls. It means that
most o the respondents are satisfied with the quality of service if its improved further more
then it would be more appreciating for the Malls when the New Malls come up in the town.
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Table No 10
How do People Rate the following things in Malls
1. Parking Facilities at MallSL No Particulars No of Respondents Percentage
1 Excellent16 13
2 Good37 31
3 Fair41 34
4 Poor16 13
5 Very Poor10 8
Total120 100
Chart No 10
This chart depicts the Parking facilities at malls:
13
31
34
13
8
0
5
10
15
20
25
30
35
Excellent Good Fair Poor Very poor
Inference: From the above table we can infer that most of the respondents rate theparking facilities at the malls as fair, and approximately 31 % of the respondents rate as
good. So we can infer that the parking facilities at the malls are satisfactory.
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Table No 11
2. Cost of Parking facilities at the Malls
SL No Particulars No of Respondents Percentage1 Highly Satisfied
12 10
2 Satisfied43 36
3 Neutral34 28
4 Dissatisfied23 19
5 Highly Dissatisfied8 7
Total120 100
Chart No 11
Cost of Parking Facilities at the Malls:
10
36
28
19
7
0
5
10
1520
25
30
35
40
Highly
Satisfied
Satisfied Neutral Dissatisfied Highly
Dissatisfied
Inference:From the above table it can be inferred that that the respondents are satisfied
with the cost of the parking facilities at the malls. Since they feel secured when they park
their vehicle in the mall it would be easy for them to get back to their vehicle easily and
go back home. Now a days the parking rates are same in every mall except in some
special cases.
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Table No 12
3. Overall Quality of Life in Mall
SL No Particulars No of Respondents Percentage
1 Excellent24 20
2 Good39 33
3 Fair29 24
4 Poor17 14
5 Very Poor11 9
Total120 100
Chart No 12
The quality of life in Mall
20
33
24
14
9
0
5
10
15
20
25
30
35
Excellent Good Fair Poor Very poor
Inference: From the above table and graph it can be inferred that most of the
respondents have rated the quality of life in the malls as good. Quality of life here refers
to what people feel when they come to Malls like: Secured, Hassle free atmosphere, the
quality of music they play in Mall.
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Table No 13
This Table shows the customers opinion about the Location of the Malls
SL No Particulars No of Respondents Percentage
1 Excellent21 18
2 Good47 39
3 Fair29 24
4 Poor16 13
5 Very Poor7 6
Total120 100
Chart No 13
Opinion about the location of Malls
18
39
24
13
6
0
5
10
15
20
25
30
35
40
Excellent Good Fair Poor Very poor
Inference: From the above table it can be inferred that the respondents feel that the
Location of Malls are good. Many people are comfortable with the location of the mall.
People feel that the even though the Malls are located far from their houses they are
comfortable to come to the Malls and go back since the approach is good.
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FINDINGS
These are some of the findings which were evident from the study.
1. Forum Mall has the maximum level of awareness amongst the respondents because it
was the first Mall built in Bangalore which gave a different look about shopping to
Bangaloreans.
2. Most of the respondents came to know about the Mall through Friends and News
papers Promotional ads. It comes to evident that Word of Mouth is a very good means
of communication when it comes to Malls.
3. It is evident that most of the respondents came to Malls for more than twice in a
month because they feel that malls are the best place to spend time than spending
time elsewhere.
4. From the study it is evident that most of the respondents visited the Mall for
Shopping and Entertainment rather than for Window shopping and Food.
5. Most of the respondents who visited the Mall used to stay in Mall for more than 2
hours usually many of the respondents came to Mall from very distant places and
returning back to their places within a short period made uninteresting so they stayed
in Mall for more than 2 hours.
6. Many respondents rated the malls as a best place to shop as they used to shop forclothing and Accessories which they felt are the Best place to shop because all the
malls host a very good variety of clothing and accessories.
7. Respondents rated the mall as a good place to eat because they think that most of the
Malls consist of Food Courts which were selective and good.
8. When it comes to entertainment most of the respondents feel that malls are the best
place for entertainment because of the Multiplex theaters and the host of promotional
programmes which are put up form time to time.
9. Most of the respondents feel that shops should be convenient and accessible to shop
and they also feel that food courts are also of same importance to people which
interests them to visit the Malls.
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10.It is evident that most of the respondents are interested in purchasing
Electrical/Electronic appliances from the Malls because they trust in the genuineness
of goods in the malls rather then purchasing from other shops.
11.Most of the respondents feel satisfied with the quality of service provided in the
Malls. This attracts more customers when the service quality is good in a Mall.
12.The respondents were not satisfied with the parking facilities provided in the Mall
because during the weekends there will be no space for vehicles after 6 pm which
make many of the customers feel panic when parking is not available when they come
from distant places.
13.It is evident that most of the respondents feel satisfied with the cost of Parking
facilities in the Malls but many of them are no satisfied because many feel insecure
when they park their vehicles because of some discrepancies.
14.Many respondents are happy with the Quality of life in Mall which comprises of
things like they can visit shops which ever they want, the prices are fixed and there is
no cheating the payment process, etc
15.Even though Malls in Bangalore are far except Garuda and Bangalore Central which
are located near when compared to others. Respondents feel that location of Malls in
Bangalore is good as the approaching is good.
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RECOMMENDATIONS
1. Since people are looking for different experience while shopping Malls in Bangalore
should look in for more variety of shops rather than only luxurious goods and
Clothing.
2. Many of the Malls cater to the needs of Niche segment rather than focusing on
Middle class people which is much bigger segment. If their needs are catered then the
Malls would do much better than what it is doing now.
3. Malls like EVA and Sigma should look for attracting more customers by conducting
some stage shows on weekends in order to attract more and newer customers.
4. Parking facility is a main bane for all the Malls which will create problem for
customers during the weekends. So I would like to suggest allotting more space for
parking which makes people to feel comfort while parking their vehicles in Malls.
5. The malls should introduce some of the Gaming centers which would make the malls
more crowd attracting and will also increase the revenue for the Malls.
6. Since most of the customers come to Malls for shopping and entertainment I would
like to suggest that much importance should be given to these areas which makes the
people who visit Mall to visit the Malls more frequently.
7. Most of the respondents feel that Malls are more convenient and Accessible whichmakes them to shop more easily. So they should also improve the range of shops in
Mall which makes the customer much easy to shop than from any other place.
8. Many customers like to shop for apparels and other luxurious goods in Electrical
segment so much importance should be given for them which makes the customers to
shop happily. Rather than searching for goods which they like.
9. It is seen that much of the respondents were satisfied with the service quality in Malls
but some of them are not satisfied with the service level so if they are not satisfied
then word of mouth will cause much effect to Malls.
10.It is observed that in Malls many other people will be doing survey but till today no
mall has introduced a opinion survey as to how they feel about the malls if this done
the Mall people will know where they are lagging behind and necessary changes can
be made for the discrepancies.
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11.Many people who like to spend time in Mall will not find any place to sit if this is
provided then much more Mall Rats can be attracted which in order increases the
image of the Malls.
12.Most of the people felt the quality of life in Mall were good. If this is made excellent
then it would help the customers to visit the mall more frequently.
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QUESTIONNAIRE
Creating and Sustaining value through Branding for Malls
Personal Details
Name:
Sex: Male Female
Age: 20 20-30 40 & above
Income Group: 10000 p.m
10000-20000p.m
20000-40000p.m
40000 & above p.m
1. Which are the Malls in Bangalore that come to your mind:
Forum Garuda Sigma Central EvaAny other:
2. How did you come to know about the Malls?Friends Ads News PaperAny other:
3. How many times in the past one month have you been to the Malls:Once 2-4 Times More than 4 Times
4. The main Reason why you visit Malls:Window Shopping Shopping
Entertainment/Movies Food5. How long do you stay when you come to Malls:Less than 1 Hour1-3 HoursMore than 3 hours.
6. How would you evaluate the following aspects of a mall:Statements Excellent Good Fair Poor Very Poor
As a place to ShopAs a place to Eat
As a place for Entertainment
7. Kindly mention the reason which arouses your interest about in Malls:The Variety of Shops
The shops are convenient & Accessible
Selection of Restaurants
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Good Place to Socialize
Entertainment/Movies
Good Customer Service
8. Which category of shops in a mall that interests you more:Clothing Jewellery Electrical AppliancesFood Movies
9. Do you generally feel satisfied with the level of customer Service youreceive from retail stores in a Mall?
Satisfied Dissatisfied Unsure
10. How do you rate the following things in a Mall:Sl.No
Statement Excellent Good Fair Poor Very Poor
A Parking Facilities at the
MallHighly
Satisfied
Satisfied Neutral Dissatisfied Highly
Dissatisfied
B Rate the cost ofparking facilities at theMall
Excellent Good Fair Poor Very Poor
C Overall Quality of Lifein this mall
Excellent Good Fair Poor Very Poor
D The location of Mall
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BIBLIOGRAPHY
(a) Books:
1. 'Retailing' by Roger Cox and Paul Brittain. Pearson Education Publications, Fifth
Edition, 2006
2. 'Retail Management--A Strategic Approach' by Barry Berman and Joel R Evans,
Pearson Education Publications, Ninth Edition, 2006
3. 'Retailing in India' Edited, ICFAI Publications, 2006
4. Retailing: General' by Standard & Poor's Surveys 2002
5. ' Retailing Specialty' by Standard & Poor's Survey 20026. 'Selection of Retail Locations' by Richard L Nelson, F W Dodge Publications, New
York, 2000
7. 'Retailing on the Move: An Era of Change' by Thelma Snuggs, Black Collegian
Publications 2000
(b) Journals and Magazines:
Journal of Retailing
Journal of Marketing
Retail Biz
Journal of Marketing Research
Strategist (Business Standard)
Websites:
www.Wikipedia.com
www.forumexperience.com
www.google.com
www surveyconsole com