A project on-

New product launching strategy in context of- “Easyday market”

Submited to- Submited By-

Mr. Shishir Jain Sir Arun Kumar Soni

Faculty ”Product Management” MBA (mm) 3rd sem.

IMS DAVV INDORE IMS DAVV INDORE

Outlines (point to be covered)

A. Introduction

B. 4 P’s of marketing

C. SWOT Analysis and conclusion

D. External environment analysis

E. Facts & figures

F. Conclusion

Easyday hyper markets are ‘Brand’ name of Bharti retails pvt ltd. Bharti Retail is a wholly owned subsidiary of Bharti Enterprises. The Company operates easyday neighborhood stores and compact hypermarket stores called easyday Market. Bharti Retail provides consumers a wide range of good quality products at affordable prices. easyday stores are a one stop shop that caterto every family's day-to-day needs. Merchandise at easyday Market stores include apparels, home furnishings, appliances, mobile phones, meat shop, general merchandise, fruits and vegetables among others.

First 'easyday Market' Compact Hyper Store in Indore - First store in Madhya Pradesh to sell more than 15,000 products - About 45,000 square feet of space to deliver great shopping experience at best prices - Employs more than 175 housewives, retired and differently-abled people, fruits and vegetable sellers, school and college dropouts

Bharti Retail, a wholly owned subsidiary of Bharti Enterprises, today entered the Madhya Pradesh market with the launch of its first compact-hyper store 'easyday Market' in Indore, Madhya Pradesh. Located at Main A.B. Road, Indore, the new store offers customers a great shopping experience, high in-stock levels and a wide range of quality products at the best prices all under one roof.

The easyday Market in Indore is about 45,000 sq. ft. store that offers over 15,000 quality products, including a wide range of home ware & furnishings, trendy apparel range, a range of electronics & electrical appliances, books, food & grocery and fresh fruits & vegetables at unbelievably low prices consistently to enable people save money to live better. easyday Market stores are a one stop shops that cater to every family's daily and monthly needs.

For successful flight, great ideas need landing gear as well as wings. Philip Kotler.

The Marketer must make strategic decisions about packaging and promoting its new product to

deliver it through its branch network. The commercialization strategy revolves around the four

marketing Ps of the new product, whose features will be refined as it evolves through its life

cycle, as the institution matures, and as client needs change. Although the four Ps of marketing

are defined from the seller’s perspective, they are designed to deliver benefits to the customer

and can be thought about in relation to the four consumers Cs, as illustrated below.

Criteria for developing a market strategy:

4 Ps 4 Cs

Product Customer needs and wantsPrice Costs Cost to the consumerPositioning ConveniencePromotion Communication

PRODUCT

The product is here a shopping super store which provide the combination of all daily consumer goods, further product can be divided into-

Core Product.

Actual Product.

Augmented Product.

Product design involves:

Core product—the main benefits the customer expects from the product;

Actual product—the specific terms and other features that directly meet customer needs; and

Augmented product—ancillary services, which determine the accessibility of the product

Core Product.

At a minimum, a product must offer the main benefits the customer expects from the product or fulfill a need. When it is about a retail store its core is ensuring the availability of all daily require consumer durables at one stop. The store must contain a large assortment of shopping goods like groceries, vegetables, fruits and apparels.

Here the core product is defined with a broader prospective and many new brands have been added to ensure the variety of preferences of consumers.

Actual Product.

The actual product include specific features that are added with core product. For a retail store it can be considered as special offers, easy billing procedure, loyalty membership etc

Augmented Product.

The augmented product stand for easy exchange policy of retail stores, extra points on purchasing, the attitude of sales staff and billing personnel’s, easy availability of desired merchandise and proper signage for different place of retail store.

PRICE

Determining price is an integral part of product design. Different products will have distinctcosts associated with delivering them, so differential pricing is key to the financialsustainability of the “RETAIL STORE” Moreover, customers will be more price-sensitive to certain products than to others. Understanding cost differentials and recognizing customer sensitivities allows the “RETAIL STORE” to price its products more effectively and make deliberate decisions about which market segments it can reach. The main components for pricing are cost recovery and competitive considerations.

THE VARIOUS ASPECTS OF PRICING STRATEGY IN RETAIL SECTOR

The main theme of “easyday” retail stores is its competitive pricing strategy which prove to be lowest in segment and promise to fulfill required needs at lowest cost to consumers.

Positioning & Place

Place decision is very relevant in order to run a departmental store or super market to attract larger share of customers. The location is chossed at a.b. road indore.

The place already with two major super market chain so called MORE MEGA STORE & PAKIZA. hence it contain high customer density because larger people of this region are doing job and like to shop for there daily needs at a single stop that’s why most of time they look for super markets.

Main features of place determinations were very critical which assure some certain requirement s-

Easy accessibility.

Preferred destination for shopping.

Demographical sustainability.

Convenient

Promotion

Promotions are important components of new product implementation because they are theprimary means of communicating its features and building consumer awareness.

The product teamwill need to develop a promotions plan that communicates the benefits of the product to the target market.

Promotional activity can include advertising, publicity, and public relations and should be appropriate to the target market. Print advertising is pointless if the majority of the target market is illiterate or speaks a local dialect. Some MFIs rely on colorful posters that graphically depict their product, or on non written forms of advertising, such as radio broadcasts.

Understanding promotion:

If the circus is coming to town and you paint a sign saying, “Circus coming to the FairgroundSaturday,” that’s advertising;If you put the sign on the back of an elephant and walk him into town, that’s promotion;And if the elephant walks through the Mayor’s flower bed, that’s publicity;And if you can get the Mayor to laugh about it, that’s public relations.

The promotionl ctivity followed by esy dy markets is very specific nd ctchy which ttrccted rapid attention of consumers and transformed a good number of prospects to customers.

The major promotional activities were-

Trade-Oriented Sales Promotions

Trade Shows

–Sales Objectives–Communication Objectives

Specialty Advertising

"useful articles to carry theadvertiser's identification andmessage to its target market"–Unstructured/Random Dist.–Structured Dist.

Consumer-Oriented PromotionObjectives

Obtain trial and/or repurchase

Increasing consumption of an establishedbrand

Defending current users (franchiseholding)

Enhancing advertising & other marketingEfforts

Hence to conduct all these promotional activity Target market was chosen as whole urban area and different methods were used to reach different layers of target consumers.These methods (medium of communication) were-Print ads through newspapers-newspapers are directly related with households specially with working women’s who are in first priority of the store, similarly it cover the mass media as newspaper spread the information as wildfire.

Hoardings- again the hoardings were plotted at heavy density at all the major places to communicate its offers to mass at short span of time.

Swot analysis

Swot analysis can be drawn to better understand new product launching of Easy day markets.

S- Strength1. Well defined place2. Strong promotional participations3. Large collections and endorcement of new brands.

O- Opportunities

1. Extreme range of potential consumers2. Chances to establish as a major player as market is fully intend.

W- Weakness

1. Most of the consumers are not willing to move out in traffic rush for there daily needs.2. Sales staff is not well trained.3. Rush at billing counters

T-Threats

1. Competition from heavy players as well as local unorganized shopkeepers.2. Dependency on price factor only can reduce the opportunity of making loyal customers.

Players at retail market Key characterstics

Big bajar Market leader, early start up, familiar brand name, offer one stop service to high income groups

More Mega store Heavy promotional offers, cater to mid level and lower level cluster of pyramid, price sensitive image.

Unorganized retailers Easy to access, offer credits to regular customers, provide a larger time space for shopping activities

Easy day markets Too much dependency over price cut offers, well defined location, collection of new brands

. External environment analysis

Major competetiors

Aditya birla retails More Mega store

Pakija retail store

Vishal retails store

Aditya birla retails More Mega store

. Aditya Birla Retail Limited is the retail arm of Aditya Birla Group, a USD 28 billion Corporation. The Company ventured into food and grocery retail sector in 2007 with the acquisition of a south based supermarket chain. Subsequently Aditya Birla Retail Ltd. expanded its presence across the country under the brand "more." with 2 formats Supermarket & Hypermarket

more. for you - Conveniently located in neighbourhoods, more. supermarkets cater to the daily, weekly and monthly shopping needs of consumers. The product offerings include a wide range of fresh fruits & vegetables, groceries, personal care, home care, general merchandise & a basic range of apparels. Currently, there are over 600 more. supermarkets across the country.

more.MEGASTORE - is a one-stop shopping destination for the entire family. Besides a large range of products across fruits & vegetables, groceries, FMCG products, more.MEGASTORE also has a strong emphasis on general merchandise, apparels & CDIT.

Vishal retails store

The jewel in Vishal Group’s crown is its flagship company Vishal Retail Ltd. a company engaged in Hyper market stores with an average area of 25,000 to 30,000 sq. ft. through an impressive chain of 172 fully integrated stores in spread over the area of more than 24,00,000 sq. ft. in around 110 cities across India in 24 states. The turnover of the company for 09-10 was 1105 Crore . Maintaining the highest standards in quality and design, these stores have come to offer the finest fashion garments at down-to-earth price structure. A fact that is better visible in the constant flow of shoppers all through the year. Under the title of Vishal Mega Mart these stores have emerged as the regular haunts for the bargain-hunters and fashion enthusiasts al

Big bajar retail stores

Big Bazaar is not just another hypermarket. It caters to every need of your family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers.

At Big Bazaar, you will definitely get the best products at the best prices - that's what we guarantee. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at prices that will surprise you. And this is just the beginning. Big Bazaar plans to add much more to complete your shopping experience.

In indore its store is situated at treasure island on M G Road and first of its type it catter a large share of market specialy in geographical area from Gita bhavan, Palaisa,tukoganj to LIG and Vijay Nagar.

Pakija retail stores

This one is local store chain which is basically dealings apperals and other clothings it has its own image of service at competitive costs to consumers thus its customer base is demographically mid level income people.

Facts & figures

RESPECTIVE EFFECT OF LAUNCHING OF NEW PLAYER EASY DAY MARKETS

Conclusion

Research shows that performance in a new product’s first year is a strong predictor of long-term results. Therefore, maximizing the success of new product launches is critical. Yet even with a superior product profile and marketing strategy, commercialization success may be mitigated by ineffective planning Hence the conclusion can be drawn from the all above research and stuff obtaine-The strategy followed by Easyday Market to meet the effective product launching.

o Testing, qualification and certification o Pilot production and process prove-out

o Forecasting and ERP set-up

o Vendor qualification

o Product and service manuals

o Package design

o Marketing and advertising program design and execution

o Market testing

o Sales and distribution planning

o Sales, support and service training

Thus the operations conducted by Easy day market emphasize the effect of well planned new product launching strategy packed up with superior combination of “ 4 p’s of marketing” and competitive analysis of business models and environmental studies.