Product
FutureBazaar.com is India's favorite online shopping site. FutureBazaar is the online venture of the Future Group, owner of India's largest retail brands Big Bazaar, Pantaloons, Central and eZone. FutureBazaar sells a wide range of products like Fashion including Men's apparel, Women's apparel, Mobiles, Mobile accessories, Electronics like LCD TVs, Flat TVs, DVD players, Home Theatres, iPods, MP3 players, MP4 players, Digital Cameras, Video Cameras, Music systems, Home appliances, Kitchen Appliances, Dreamline Kitchen ware, Hindi movies, English movies, DVDs, VCD, Gold jewellery, Diamond jewelry, Fiction Books, Non-Fiction Books, Car Acccessories and others. Big Bazaar sales such as Sabse Sasta 3 Din and Mahabachat are also available for shopping online at FutureBazaar. Whether you want to buy mobiles or buy electronics from FutureBazaar, you can do so with complete confidence as FutureBazaar only sells genuine products with manufacturers' warranty.
Price
The tag-line is “Is se sasta aur accha aur kahin nahi”. They work on the model of economics of scale. There pricing objective is to get “Maximum Market Share”. The various techniques used at Big Bazaar are: -
· Value Pricing (EDLP - Every Day Low Pricing): Big Bazaar promises consumers the lowest available price without coupon clipping, waiting for discount promotions, or comparison shopping.
· Promotional Pricing: Big Bazaar offers financing at low interest rate. The concept of psychological discounting (Rs. 99, Rs. 49, etc.) is used as promotional tool. Big Bazaar also caters on Special Event Pricing (Close to Diwali, Gudi Padva, and Durga Pooja).
· Differentiated Pricing: Time pricing, i.e., difference in rate based on peak and non-peak hours or days of shopping is also a pricing technique used in Indian retail, which is aggressively used by Big Bazaar.
· Bundling: Selling combo-packs and offering discount to customers. The combo-packs add value to customer.
Place
Big Bazaar has 120 outlets across the country. Big Bazaar has presence in almost all the major Indian cities. They are aggressive on their expansion plans.
Promotion
Big Bazaar started many new and innovative cross-sell and up-sell strategies in Indian retail market. The various promotion techniques used at Big Bazaar include “saal ke sabse saste teen din”, Future Card (the card offers 3% discount), Shakti Card,
Brand Endorsement by M. S. Dhoni, Exchange Offer - ‘Junk Swap Offer’, Point-of-Purchase Promotions.
Advertising has played a crucial role in building of the brand. Big Bazaar advertisements are seen in print media, TV, Radio (FM) and road-side bill-boards.
People
They are one of the key assets for any organization. The salient features of staff of Big Bazaar are: -
· Well-trained staff, the staff employed by Big-Bazaar are well-suited for modern retail.
· Employees are motivated to think out-of-the-box. Retail sector is in growth stage, so staff is empowered to take innovative steps.
· Employs close to 10,000 people and recruits nearly 500 people every month.
· Use of technology like scenario planning for decision making.
Process
The goods’ dispatch and purchasing area has certain salient features which include: -
· Proper display / posters of the place like (DAL, SOAP, etc.).
· Home delivery counters also started at many places.
Physical Evidence
It deals with the final deliverable or the display of written facts. This includes the current system and available facilities.
