Big Bazaar Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Big Bazaar analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Big Bazaar marketing mix, help the brand succeed in the market. Let us start the Big Bazaar Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Big Bazaar Product Strategy:
The product strategy and mix in Big Bazaar marketing strategy can be explained as follows:
The product in the marketing mix of Big Bazaar can be classified into the following categories – Apparels, Food, Farm Produce, Home and Personal Care and Chill Station. Apparels usually comprise denims and T shirts, fabrics and cut pieces, casual clothing, party clothing, ethnics wear, accessories, under garments, dress materials, sarees and the likes. Big Bazaar offers food which comprises ready to eats, ready to cook packages, spices, chilled drinks, tea and coffee etc. Farm products include vegetables, fruits, dairy products and imported fruits/vegetables and luxury fruits.
Chill stations are at Big Bazaar offering soft drinks, packages juices, milk and milk products, frozen foods and ice creams. Home and personal care include detergents, soaps, creams, deodorants, plastic products and crockery. Other than these Big Bazaar also offers Electronics, Fashion and Jewellery items and Kids and Child products.
Image: Wikimedia
Big Bazaar Price/Pricing Strategy:
Below is the pricing strategy in Big Bazaar marketing strategy:
Big Bazaar has always endeavoured to strike a good balance between profitability and value pricing of its products. Since major target audiences for Big Bazaar comprises middle class homemakers, value for money and competitive pricing is the strategy adopted.
This in conjunction with multiple offers, sales, special discounts, season offs etc make purchasing from Big Bazaar lucrative. Besides this Big Bazaar also offers certain goods at low interest rates and uses psychological model of pricing as well as differential and bundling price strategies. Hence, the pricing strategy in the marketing mix of Big Bazaar is not solely dependent upon competition and regulatory authorities.
Read more about Big Bazaar
Big Bazaar Place & Distribution Strategy:
Following is the distribution strategy in the Big Bazaar marketing mix:
Big Bazaar’s strategy of correctly identifying areas which have high potential development and growing purchasing power and invests in real estate for the opening of their retail stores. These are usually areas high in population and traffic movement. Their Express format has an area of roughly 15-18000 square feet, their hypermarkets usually have an area of 40-45000 square feet while the super centres have upto 1 lakh square feet. Big Bazaar currently have 100+ stores spread across 34 cities.
There are plans of expanding stores to other tier 2 cities with an infusion of Rs 350 crore
Big Bazaar Promotion & Advertising Strategy:
The promotional and advertising strategy in the Big Bazaar marketing strategy is as follows:
Big Bazaar is known for promoting its products in very catchy, easy to remember ways using memorable punchlines. For below the line promotion, they offer discounts and coupons along with money back guarantees and several exchange offers. For Above the line promotion Big Bazaar run advertising campaigns on television and radio while also publishing print ads in newspapers and magazines, besides online promotion. Hence the promotional strategy in the marketing mix of Big Bazaar is mostly a 360 branding technique.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Big Bazaar.
People:
Very well trained and knowledgeable staff assists people in purchasing the right things which Big bazaar has in spades (roughly 10,000 employees). The people strategy in the marketing of Big Bazaar is primarily having the right people trained in the right way to serve the customers. The uniform and overall grooming, smartness of their employees helps achieve a professional outlook implying that they mean business and are serious about the choices that their customers make through assists. Baggage counters and security guards also help check foul play and ensure safety.
Process:
From the free delivery of goods purchased for over Rs 1000 to streamlining of the cash counter processes through technological application and more efficient queueing systems in place, Big Bazaar realizes the importance processes play in the sale of merchandize and understands the implications this has on customer retention and satisfaction.
Physical Evidence:
Big Bazaar prominently displays tags/name slips and readouts for all its products and merchandize. This helps in better search and navigation and reduces buyer purchase time, thereby generating more profits. The stocking of goods is done systematically and in proper stacks so as to make them visually appealing. Thus, all this provides an overview on the marketing mix of Big Bazaar.
About Big Bazaar:
Big Bazaar, a household name in shopping in India, is a chain of retail stores, also known as a hypermarket. Catering to every need in a typical family, Big Bazaar has certainly come a long way from its humble beginnings of the launch of three stores in Hyderabad, Kolkata and Bangalore to
Big Bazaar is a chain of discount stores targeting the value conscious segment and has its headquarters in Jogeshwari, Mumbai. Promoted by Kishore Biyani and owned by the Future Group, it has changed the way Indians shop by providing a one stop for all needs kind of a hypermarket chain.
Big Bazaar is largely based on the fashion format of selling through retail chains and providing grocery and a whole range of general merchandise, targeting a demographic including young working class and middle class homemakers.
Retail is a fast growing sector in India and has a great deal of economic significance in the context of the India GDP. It has helped boost investments and provided massive job opportunities to Indians.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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