21-03-2014, 10:34 AM
A STUDY ON EFFECTIVENESS OF ADVERTISEMENT CARRIED OUT BY BIG BAZAAR AT HUBLI
SUMMARY
Indian retail sector is witnessing one of the most hectic Marketing activities of all times. The companies are fighting to win the hearts of customer who is said God by the business tycoons. There is always a ‘first mover advantage’ in an upcoming sector. In India, that advantage goes to “BIG BAZAAR”. It has brought about many changes in the buying habits of people. It has created formats which provide all items under one roof at low rates, or so it claims. In this project, we will study its marketing strategies and effectiveness of advertisement.
The research titled “A study on effectiveness of advertisement carried out by BIG BAZAAR at hubli”, helps us to understand the effectiveness of Advertisement, on the customers to visit the outlet. The study of Advertisement helps us to know the strategies to conduct them & how to make them more effective in attracting more & more customers.
The report deals with the impact of Advertisement on attracting customers towards the outlet and making customers to buy more.
The research was carried out as per the steps of Marketing Research. The well supportive objectives were set for the study. To meet the objectives primary research was undertaken. The data collection approach adopted was survey research. The instrument used for the data collection was questionnaire. The target respondents were the visitors of BIG BAZAAR, with the sample size of 100 for the study of Advertisement of the company.
INDUSTRY PROFILE
The Global Retail Industry
The global Retail scenario: The US$ 9 trillion Retail industry is one of the world’s largest industries and still growing. 47 of the Global Fortune 500 companies & 25 of Asia’s Top 200 companies are retailers.
Even as the developing countries are making rapid strides in this industry, organized Retail is currently dominated by the developed countries with the USA, EU & Japan constituting 80% of world.
Retail is a significant contributor to the overall economic activity the world over: the total Retail share in the World GDP is 27% while in the USA it accounts for 22% of the GDP. The share of organized Retail in the developing markets ranges between 20% to 55%.
Traditionally, local players tend to dominate in their home markets. Wal-Mart, the world’s leading retailer, has about 8% of the US$ 2,350 billion market in the USA. Similarly, Tesco has a market share of about 13% in the US$ 406 billion UK market.
The main value propositions that most large retailers use a are a combination of low price, ‘all-under-one-roof’ convenience and ‘neighborhood’ availability.India has emerged as the most attractive retail market three years in a row. The Indian Retail industry is a US$ 270 billion industry and is growing at over 13% per annum. Only about 4.6%(US$12.42 billion) of the industry is organised. If this share increases to 10% by 2011, the size of organised retailing could touch US$ 55 billion – a CAGR of over 35%.At the centre of India’s booming economy are the top six cities of Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad representing 6% of the population yet contributing 14% of the GDP. Also notable is the fact that 85% of India’s urban Retail market is concentrated in the country’s eight large cities
FDI in India’s Retail Sector
Retailing is the interface between the producer and the individual consumer buying for personal consumption. This excludes direct interface between the manufacturer and institutional buyers such as the government and other bulk customers. A retailer is one who stocks the producer’s goods and is involved in the act of selling it to the individual consumer, at a margin of profit. As such, retailing is the last link that connects the individual consumer with the manufacturing and distribution chain. The retail industry in India is of late often being hailed as one of the sunrise sectors in the economy. AT Kearney, the well-known international management consultancy, recently identified India as the ‘second most attractive retail destination’ globally from among thirty emergent markets. It has made India the cause of a good deal of excitement and the cynosure of many foreign eyes. With a contribution of 14% to the national GDP and employing 7% of the total workforce (only agriculture employs more) in the country, the retail industry is definitely one of the pillars of the Indian economy1.