Who is the target market of Big Bazaar?

Big Bazaar is a chain of department stores in India owned by Future Group. It aims to reflect Indian bazaars with over 170,000 products at low prices. Big Bazaar targets middle and upper middle class customers, especially working women and homemakers.

What is the customer segment Big Bazaar Targets at?

Target Audience: In India, Big Bazaar has more than 300 stores across 130 cities. Its core audience consists of females over the age of 25. For its Smart Search campaign, however, Big Bazaar wanted to target young Indian consumers, who relate more to the digital medium, offers, m-coupons, redemption, etc.

What is the marketing Strategy of Big Bazaar?

Promotion Strategy of Big Bazaar

Big Bazaar uses both below-the-line promotion and above-the-line promotion. Its line promotion includes great discount offers, availability of Future Cards with discounts on them as well as money-back guarantees and the benefits of exchange offers.

Why do I select Big Bazaar?

Big Bazaar differentiates itself through its large store sizes, wide selection of products across categories, and competitive pricing through bulk sourcing and cost efficiencies. It uses various promotional strategies like weekly discounts and loyalty programs to drive footfall.

What is the business model of Big Bazar?

The Business Model of Big Bazaar

Big Bazaar, founded by Kishore Biyani in 2001, quickly became one of India's largest retail chains. The business model of Big Bazaar was centered on offering a wide range of products at affordable prices, targeting the middle and lower-middle-class segments of Indian society.

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Why did Big Bazaar fail?

Ineffective Model of Pricing and Promotional Strategies: Pricing and promotional strategies of Big Bazaar failed to align with customers. While the brand had its positioning in terms of being a value-for-money retailer, competitors gave same kind of products at more competitive prices.

What is the luxury market model?

The Ultimate Luxury business model often allows companies to charge premium prices for their goods and services, resulting in high profit margins. This is because luxury consumers are willing to pay a premium for exclusivity, quality, and craftsmanship. Brand differentiation.

What are the strengths of Big Bazaar?

Big Bazaar has several strengths including high brand equity, state-of-the-art infrastructure, a vast variety of products under one roof, and large investment capacity. However, it also has weaknesses such as an inability to meet store opening targets on time and perceptions of low quality due to low prices.

What is the bazaar famous for?

Bazaars or souks are traditionally divided into specialized sections dealing in specific types of product, each usually housed in a few narrow streets and named after the product it specializes in such as the gold souk, the textile souk, the spice souk, the leather souk, the booksellers' souk, etc.

What's the new name of Big Bazaar?

Reliance Smart Bazaar, formerly known as Big Bazaar, is an Indian retail chain of hypermarkets, discount department stores, and grocery stores.

What are the objectives of Big Bazaar?

Its main objectives are to include more and most new brands in order to give their customers a complete shopping experience. The earlier central businesses objective of Big Bazaar was to bring stability and consolidation.

What are the 7 steps of marketing strategy?

What is the market cap of Big Bazar?

Big Bazaar and fbb continue to be the most recalled retail brands and have maintained their lead for the last decade or so. Market Cap ₹ 124 Cr.

Who is the target market or customer?

What is a target market? A target market is a group of people to whom a company hopes to sell its products. Potential markets include categorizations of customers to target at once with specific product features and outreach. Several market examples include age groups, gender, income levels, interests and occupations.

What is the strategy of big bazaar?

Price Strategy of Big Bazaar

Big Bazaar promises its consumers high-quality products at low prices. Moreover, it offers discounts all year round and creates special sales and campaigns during festivals (Durga Puja, Diwali, etc) to encourage bulk buying.

What is the target customer industry?

A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company's product or service. Shared characteristics typically include lifestyle, income, and age.

Who buys luxury brands the most?

Younger consumers and luxury go hand in hand, with the majority of luxury consumers being Gen Z or millennials. Gen Z are the ones to watch though, as they're purchasing luxury goods three to five years earlier than millennials did at their age.

What are the 4 P's of luxury marketing?

Below is an outline of the 4 P's (product, price, place and promotion) of luxury marketing, as well as an explanation on how each element contributes to an overall image of prestige that luxury brands often strive to portray. Luxury products are the epitome of craftsmanship, quality, and exclusivity.

What is grey market luxury?

Gray market goods are branded goods legally manufactured by or under a license from the brand owner. Therefore, they are genuine goods protected by intellectual property rights. However, they are sold outside of authorized channels in the territory.

What brands are under Big Bazaar?

Who owns Big Bazaar?

Kishore Biyani is an Indian businessman who is the Founder & CEO of Future Group, one of India's biggest brick-and-mortar retailers. He is also the founder of retail businesses such as Pantaloon Retail and Big Bazaar. According to Forbes magazine, he had a net worth of US$1.78 billion in 2019.

Who is the ex owner of Big Bazaar?

Meet Kishore Biyani, the founder of Future Group and the brain behind Big Bazaar and Pantaloons. Here's everything you need to know about the severe downfall of 'India's Modern Retail King'.

What is the revenue of Big Bazaar?

For example, EasyDay had 1007 stores across India and includes standalone stores not part of Big Bazaar. Overall, Future Retail (the company that owned Big Bazaar) generated an annual revenue of ₹20,000+ crore and operated around 1,511 stores in 428 cities, covering approximately 16.14 million sq. ft.

What happened to Kishore Biyani?

The fall of Kishore Biyani

After conquering the retail industry, Kishore Biyani desired to venture into every business which directly dealt with the consumer, but this proved to be downfall because his unplanned expansion resulted in mounting debt which ultimately swelled to over Rs 12000 crore.