Published by MBA Skool Team, Last Updated: August 25, 2017
Marketing Strategy of Pantaloons analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Pantaloons marketing mix, help the brand succeed.
Pantaloons marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Pantaloons Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Pantaloons Product Strategy:
The product strategy and mix in Pantaloons marketing strategy can be explained as follows:
Pantaloons is one of the leading fashion retail brands in India. Pantaloons offers Apparel brands for Men, Women and Kids. Along with Apparel it also features accessories. Some of the most popular brands offered are Indusroute, SF, BYFORD, BARE, Ajile, Factor, IZABEL, Honey, Poppers, chalk etc. Pantaloons offers accessories from watches to shoes, bags, jewellery and perfumes. The shops are designed in an aesthetically appealing way with excellent customer support. The tagline of Pantaloons is “In love with Fashion”. Pantaloons offer products from traditional outfits to high end western outfits as part of its marketing mix strategy. The target group is the middle and upper middle class residing in Tier I, II and III cities of the country. The have dedicated outlets and also presence in shopping malls. They launch new products every festive season. Pantaloons have a dedicated website online that features collections based seasons like “summer” collection, “Winter” collection etc. They have also featured an online catalogue which is updated regularly that is in vogue with the latest fashion available.
Pantaloons Price/Pricing Strategy:
Below is the pricing strategy in Pantaloons marketing strategy:
Pantaloons offers value for money strategy to all its customers.
Pantaloons offer discounts during festive season. They also have end of year clear off sales. All the goods are procured from private small-scale producers and are bundled and sold under private labels. Pantaloons follows relationship marketing where premium is charged for the in-store service offered by the shop. Relationship marketing has helped bring customer service, quality and improving visibility into closer alignment.
Following is the distribution strategy in the Pantaloons marketing mix:
Pantaloons offers sales through omni channel. They have an online presence where items can be ordered from their home website. The website of Pantaloons is designed in accordance with keeping e-commerce strategies in place. The items are differentiated under headings suitably. Pantaloons currently has 130 fashion stores in 40 cities and towns in India. Pantaloons has a retail space of 1.7 million square feet, which is among the largest in India.
Pantaloons stores are present widely across many big Indian cities and towns across India.
Pantaloons Promotion & Advertising Strategy:
The promotional and advertising strategy in the Pantaloons marketing strategy is as follows:
Pantaloons uses a diverse range of promotional activities to market its brands. Pantaloons uses media like TV, print, online etc as part of its marketing mix promotional strategy. Pantaloons also offers its flagship Green card membership. It is available in 4 different offerings with one, three, five and seven-star. Discounts are offered based on the type of card the user has purchased. This has helped in providing loyalty points which can be redeemed at every next purchase. Loyalty programs are one the best ways of promoting, especially in the retail apparel segment. Loyal customers of Pantaloons are always cheap to serve, they are willing to pay more for a service and they act as brand ambassadors for the product, by word of mouth marketing
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Pantaloons.
Pantaloons values customer service and in-store service. Pantaloons have excellent customer engagement skills. The higher management consists of people sourced from reputed institutes and with years of excellent experience. Also, the sales people at Pantaloons stores are very well trained and equipped to handle queries of customers.
Pantaloons has several processes in place for smooth execution of its business. The clothes are shopped from manufacturers to warehouses to the Pantaloons retail outlets all across the country. Also, the online model ensure online purchase, online payment and delivery at the customer doorstep. Pantaloons has installed SAP based software to track movement and sales of products through their retail stores. SAP has helped them in implementing ERP services which has improved their tracking and sales of goods.
Pantaloons’ stores are the biggest physical evidence of the brand. The uniqueness of stores, store planning, color & design etc are all unique across stores. The physical evidence also includes its loyalty cards, carry bags etc. Pantaloons is a winner of the prestigious North-East consumer awards. It is also one of the most preferred Fashion Retail destination of the year. Pantaloons also received the “Emerging market Retailer of the year” award. It has also received HR excellence awards for some of its best industry people management standards. It has also received awards for some of the best loyalty program awards. Hence this concludes the Pantaloons marketing mix.
Pantaloons is a brand that is owned and managed by ABFRL (Aditya Birla Fashion Retail Ltd). This alliance has created India’s largest Fashion and Lifestyle Company having a wide portfolio of renowned brands in fashion. Pantaloons features in the list of 100 most trusted brands in India. The Indian retail market is showing a healthy growth rate of 6% year on year and is expected to reach $865 billion by 2023.
In the retail market, the share of Apparel is 8% which has currently a market share of $40 billion. There is considerable demand of fashionable goods and the accessories market is driving the fashion apparel market, which Pantaloons is looking to target.
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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