shoppers final approved

8/12/2019 Shoppers Final Approved

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To Study the Marketing Mix ofSHOPPER STOP

A Summer Training Project

Submitted in the partial fulfillment of the requirement for theaward of the Degree of Master of Business Administration2012-2014

Submitted By: Under the Guidance of:

Vineet Sharma Mr. Yashwant Kumar

BHARATI VIDYAPEETH UNIVERSITY,School of Distance Education,

Academic Study Center BVIMR, New DelhiAn ISO 9001:2000 Certified InstituteA Grade Accreditation by NAAC


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Preface

IT is designed in such a way that student can grasp maximum knowledge and can get

practical exposure to the corporate world in minimum possible time. Business schools of

today realize the importance of practical knowledge over the theoretical base. The

research report is necessary as it provides an opportunity to the researcher in

understanding the industry with special emphasis on the development of skills in

analyzing and interpreting practical problems through the application of management

theories and techniques. It is a new platform of learning through practical experience.


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Acknowledgement

When we are trying hard to get down to preparing a project like project on research

methodology after a tiring day at college at this time we need all the encouragement we

can get. This encouragement is more effective than other that are given at another

situation. It is very difficult to prepare a project almost when we are new for this

experience. Without any help or guide it is not easy to achieve given target.

First and foremost, I express my deep sense of gratitude to Mr. Yashwant Kumar, His

helping nature and his enthusiasm has been source of constant inspiration...

I am also very thankful to all the faculty members, the whole college staff for providing

me with necessary facilities and support, essential for bringing out this work in a short

time.

VINEET SHARMA


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To Study the Marketing Mix of Shoppers Stop


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Table of Contents

Chapter 1: Introduction (7-20)

1. about the Company2. Environmental Scanning3. Porters five forces model of competition Michael Porter

Chapter 2: Research Methodology (21-26)1. Statement of the Problem2. Objectives & Scope of Study

3. Managerial usefulness of study4. Type of Research and research Design5. Data Collection Methods6. Limitations of Study

Chapter 3: Conceptual Discussion (27-36)1. Review of Literature2. Current Issues3. History and Development of Company and Industry4. New Development of Company and Industry

Chapter 4: Data Analysis (37-50)1. Methods and techniques of data analysis2. Primary Data Analysis3. Secondary Data Analysis

Chapter 5: Findings and Recommendations (51-53)

Chapter 6: Conclusions and Suggestions (54-56)

Bibliography (57)


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Chapter 1

Introduction


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1.About the Company

Incorporated as a private limited company on June 16, 1997, we beacme a deemed public

limited company on December 8, 1997. Pursuant to an amendment to the Companies Act

in the year 2000, our Company was converted from a deemed public company to a full

fledged public company with effect from October 6, 2003.Prior to incorporation two of our

existing stores at Mumbai and Bangalore were run by a division of Ivory Properties &

Hotels Limited (IPHL) under the brand named Shoppers' Stop. Soon after our

incorporation, IPHL executed a conducting agreement with us dated November 3, 1997

giving us a right to participate in running the departmental stores which included the right

to use (i) the Mumbai Shopper's Stop property (ii) the Bangalore Shoppers' Stop property

(iii) the agreements and arrangements with various parties relating to purchases, sales,

franchises and co-sponsorship (iv) the brands developed (v) the diverse modes of rendering

services to the customers (vi) the data bank of Shopper's Stop, the membership of the First

citizen's Club etc; (vii) the software, various systems and training programmes (viii)books

and cassettes providing knowledge for retail trade, (ix) the business sport systems and (x)

the names of the stores and logos of the stores.

This agreement was terminated and a fresh Conducting Agreement was executed with

IPHL dated March 31, 2000.IPHL signed a Deed of Assignment dated March 31, 2000

with us for transferring the ownership of certain trademarks, trade names, goodwill and

brand names in our favour known as SHOPPER' STOP (label), STUDIO KRT (label),

STOP (label with color schemes)STOP(device), STOP(label), FIRSTCITIZENS'CLUB,

BLUESBIZAAR, BLUES BIZARRE, BLUESBIZAR (word & label) BLUES BIZAAR

(word & complete label) i(in-house brand), i(in-house brand), B (in-house brand).

Out of the various trademarks under which we presently market our in-house products only

six are registered in our name. Three of the trademarks we presently market some of our in-

house products are registered in the name of our Promoter, Ivory Properties and Hotels Pvt.

Ltd. and applications are yet to be made to register them in the name of our Company. For

the rest, applications for the registration of these trademarks in the name of our Company

have been submitted to the relevant trademark authorities and are still pending with them.


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We initially acquired 790 equity shares of Rs 100 each in UTL from some of the existing

shareholders and increased our stake in the company to 1265 Equity Shares (25.3% of the

equity capital) on March 23, 1999 at a purchase price of Rs.100 per share. UTL was a

trading company, and was one of our suppliers for garments and accessories. We enhanced

our stake in UTL to 100% in February 2000.

UTL has discontinued its trading operations from January 2003. UTL handles our

distribution and logistic function since February 2000 and now operates through four

distribution centers located in Mumbai, Bangalore, New Delhi and Kolkata.

Shoppers' Stop Services (India) Ltd was incorporated as our wholly owned subsidiary in

March 2000 to provide shared services and consultation, in accounting and logistics

operations. Currently, this subsidiary has limited operations.

Shoppers' Stop.Com (India) Ltd was incorporated in February 2000 as our wholly owned

subsidiary to provide on-line shopping facilities to our customers. As this venture did not

yield desired results, its operations were discontinued in February 2001.

Profound Readers' Choice Trading (India) Ltd was incorporated in November 1999 as our

subsidiary and acquired `Crossword', a chain of books and music stores, from India Book

House Ltd (IBHL) under trademark and style of Crossword, as a going concern by way of

slump sale on March 31, 2000. The Crossword Division from IBHL was acquired at a

purchase consideration of Rs.137.5 mn for the whole of the acquired business undertaking.

The Deeds of Assignment between IBHL and Profound Readers' Choice Trading (India)

Ltd were signed on March 31, 2000 & July 5, 2000 for assignment of trademarks of

Crossword.

Profound Readers' Choice Trading (India) Ltd changed its name to Crossword Bookstores

Ltd (Crossword) and has ICICI Trusteeship Services Ltd a/c ICICI Emerging Sectors Fundas it's equity investor holding 49% of its equity, and is governed by a separate shareholders'

agreement.


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Types and ownership pattern

Shareholding pattern - Shoppers Stop Ltd.

Holder's Name No of Shares % Share Holding

Promoters 56029674 67.83%

ForeignInstitutions 7972734 9.65%

NBanksMutualFunds 7878962 9.54%

OtherCompanies 5307176 6.42%

GeneralPublic 5294519 6.41%

ForeignNRI 78061 0.09%

Others 41408 0.05%


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Organisational Structure


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B.S.Nagesh

Customer Care Associate & Vice Chairman Shoppers Stop Limited

Mr. B. S. Nagesh has been with Shoppers Stop Ltd since its inception in 1991. As Vice

Chairman of Shoppers Stop Ltd, Mr. B.S. Nagesh continues to play the role of strategic

advisor to the management of Shoppers Stop Ltd. Recognised as the pioneer of the retail

boom in India, Mr. Nagesh was voted by Business India as one of the top 50 managers in

India who will influence the Indian business scenario in the 21st century.

Mr.Govind Shrikhande

Customer Care Associate & Managing Director Shoppers Stop Limited

Mr. Govind Shrikhande has been with Shoppers Stop Ltd since April 2001. Mr.

Shrikhande has now taken over the responsibility as The Managing Director of ShoppersStop Ltd.


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Mr. Salil Nair

Customer Care Associate & Chief Operating Officer

Mr. Salil Nair had joined Shoppers Stop Ltd in 1994 in Retail Operations. Prior to that he

had experience with Companies like Glaxo India Ltd and Carona Ltd in South India

before moving to Mumbai.On the Academic front Mr. Salil Nair completed his post

graduation in Physics from Meerut University.

During the last 17 years of his tenure with Shoppers stop he made significant

contributions in the fields of Retail Operations, Buying and Merchandising and Store

Design before being elevated to the position of Chief operating Officer.

He is responsible for transforming the Buying & Merchandising department into a

Strategic one which has helped the organization considerable growth.

He has also been instrumental in creating a foundation of a Strong Value System within

the organization. It is under his leadership that his team has gone beyond all imaginable

levels of service creating moments of magic for customers. It is his constant Endeavour

to be Nothing But the Best. He is also very actively involved in the Think Green

campaign adopted by Shoppers Stop as a Corporate Social initiative.

This Company Profile will assists individual investors, managers and companies in

evaluating opportunities, trends, market innovations, and selecting appropriate

information solutions in order to make effective decisions. The report has been made

after extensive research using the data available from reliable publications, trade

associations and the companies sources.The report elaborates on the company s business

structure and operations, products and services. The report include strategic analysis that


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intends to aid investors to find better prospects with the company and gain an insight into

the corporate policies.

Production Layout

Recent Efforts Have Some Reconsidering Wal-Mart


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Wal-Mart often inspires fervent opinions. Critics question its labor practices, and effect

on local businesses. Proponents praise its low, low prices and the availability of

affordable food and other staples. Recent studies suggest it might be time for critics to

look at Wal-Mart in a more positive light. These days, the world's largest retailer works

with local farmers to supply cheaper, more affordable food. And its sheer size allows it to

drive positive changes in other areas, from energy to transportation.

Since Johnson stepped into his new role at JCPenney a number of well-documented

events took place:

JCPenney failed to communicate and then restructured its over-complex three-tier pricing

strategy, and instead it reverted to a two-tier strategy (which seems to allow lots of

exceptions for old Clearance practices)

JCPenney started an extensive format regeneration/remodeled its stores to create more of

a specialty experience with a store -within-a- store (SWAS) model (roll -out started

August 1st) with JCPenney partnering with brands including Loblaw s of Canada fame, apparel brand, Joe Fresh for one of the first SWAS installations


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SWOT Analysis

SWOT Analysis

Strength

1. It has strong domestic presence with 50+ stores inIndia

2. Shoppers stop has become highest benchmark forretail industry

3. Loyal customer base with more than 750,000 firstcitizen members

4.Increasing footfalls and conversion rates

5. Management team is strongly established as wellas skilled labor force

Weakness

1. It has lesser promotional strategies on both ATLand BTL level compared to global leaders

2. It always follows low risk strategy in business orentering into new segment

Opportunity

1. Big opportunity to enter into new geographiesnationally

2.Foreign players see it as preferred partner formaking investment in India

4.It could enter into Hypercity -high retail valuecategory

Threats

1. Due to global slowdown consumers purchase power has reduced for top high value brands

2.Increasing brand awareness among consumersacross all socio-economic classes


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1.2.Environmental Scanning

TECHNOLOGICAL ENVIRONMENT

Focused on leveraging investment and upgrading and revamping existing technology.

Deploying Warehouse Automation application along with the multi-purpose handheld

devices to enhance efficiency in supply chain. Deployed Microsoft Technologies for

reliable communication platform. Setting up a Disaster Recovery Plan for critical

application systems.\

MARKETING ENVIRONMENT SOCIO-CULTURAL ENVIRONMENT

Changed from being a chain of retail stores to emerging as a fashion & lifestyle

destination for the growing affluent middle class of India.

COMPETITIVE ENVIRONMENT

Has identified and decided to invest in next generation data warehousing and business

intelligence solutions.

ECONOMIC ENVIRONMENT

Growth in the economy at 9% and hike in the salaries by 15%, consumption of goods

increases. Increase in the consumer spending habit increases the number of consumers

visiting the stores. Increase in the profit margins of the stores.

LEGAL ENVIRONMENT It is the set of rules and regulations to be abiding by law stimulating and surrounding the

business is known as legal environment.


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1.3 Porters five forces model of competition Michael Porter

New Market Entrants, eg:

entry ease/barriers geographical factors

incumbents resistance new entrant strategy routes to market

Supplier Power, eg:

brand reputation geographical coverage product/service level quality relationships with customers

Competitive Rivalry,eg:

number and size of firms industry size and trends fixed v variable cost bases product/service ranges differentiation, strategy

Buyer Power, eg:

buyer choice buyers size/number change cost/frequency product/service importance volumes, JIT scheduling

Product andTechnologyDevelopment, eg:

alternatives price/quality market distribution changes fashion and trends legislative effects


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Michael Porter's famous Five Forces of Competitive Position model provides a simple

perspective for assessing and analysing the competitive strength and position of a

corporation or business organization. A free Five Forces diagram in MSWord is available

here. (Porter's Five Forces diagram pdf here.)

American Michael Porter was born in 1947. After initially graduating in aeronautical

engineering, Porter achieved an economics doctorate at Harvard, where he was

subsequently awarded university professorship, a position he continues to fulfil at

Harvard Business School. His research group is based at the Harvard Business School,

and separately he co-founded with Mark Kramer the Foundation Strategy Group, 'a

mission-driven social enterprise, dedicated to advancing the practice of philanthropy and

corporate social investment, through consulting to foundations and corporations'. A prime

example of someone operating at a self-actualization level if ever there was one.

After his earlier work on corporate strategy Porter extended the application of his ideas

and theories to international economies and the competitive positioning of nations, as

featured in his later books. In fact in 1985 Porter was appointed to President Ronald

Reagan's Commission on Industrial Competitiveness, which marked the widening of his

perspective to national economies. By the 1990's Porter had established a reputation as a

strategy guru on the international speaking circuit second only to Tom Peters, and was

among the world's highest earning academics.

PORTERS FIVE FORCE MODEL

Porter s Five force model includes 4 forces:

* Potential Entrants(Threat Of Mobility)* Buyers(Buyer Power)

* Substitutes(Threat Of Substitutes)

* Suppliers(Supplier Power)

* Industry Rivalry
http://www.businessballs.com/freematerialsinword/porter'sfiveforcesdiagram.dochttp://www.businessballs.com/freematerialsinword/porter'sfiveforcesdiagram.dochttp://www.businessballs.com/portersfiveforcesdiagram.pdfhttp://www.businessballs.com/maslow.htmhttp://www.businessballs.com/maslow.htmhttp://www.businessballs.com/portersfiveforcesdiagram.pdfhttp://www.businessballs.com/freematerialsinword/porter'sfiveforcesdiagram.dochttp://www.businessballs.com/freematerialsinword/porter'sfiveforcesdiagram.doc


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Porter's five forces is a framework for the industry analysis and business strategy

development developed by Michael E. Porter . It draws upon Industrial Organization (IO)

economics to derive five forces that determine the competitive intensity and therefore

attractiveness of a market.

Three of Porter's five forces refer to competition from external sources. The remainders

are internal threats. It is useful to use Porter's five forces in conjunction with SWOT

analysis (Strengths, Weaknesses, Opportunities, and Threats).

Porter referred to these forces as the micro environment, to contrast it with the more

general term macro environment. They consist of those forces close to a company that

affect its ability to serve its customers and make a profit. A change in any of the forces

normally, requires a business unit to re-assess the marketplace given the overall change in

industry information. The overall industry attractiveness does not imply that every firm in

the industry will return the same profitability. Firms are able to apply their core

competencies, business model or network to achieve a profit above the industry average.

A clear example of this is the airline industry. As an industry, profitability is low and yet

individual companies, by applying unique business models, have been able to make a

return in excess of the industry average.


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Chapter 2

Research Methodology


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2.1 Statement of the Problem:

To study the marketing mix of ShoppersStop

Category Definition

Product

A product is seen as an item that satisfies what a consumer demands. It is a tangible good or anintangible service.Tangible products are those that have an independent physical existence.Typical examples of mass-produced, tangible objects are the motor car and thedisposable razor. A less obvious but ubiquitous mass-produced service is a computer operatingsystem.

Every product is subject to a life-cycle including a growth phase followed by a maturity phaseand finally an eventual period of decline as sales falls. Marketers must do careful research onhow long the life cycle of the product they are marketing is likely to be and focus their attentionon different challenges that arise as the product move.

The marketer must also consider the product mix. Marketers can expand the current product mixby increasing a certain product line's depth or by increasing the number of product lines.Marketers should consider how to position the product, how to exploit the brand, how to exploitthe company's resources and how to configure the product mix so that each productcomplements the other. The marketer must also consider product development strategies . [3]

Price

The amount a customer pays for the product. The price is very important as it determines thecompany's profit and hence, survival. Adjusting the price has a profound impact on the marketingstrategy, and depending on the price elasticity of the product, often it will affect the demand andsales as well. The marketer should set a price that complements the other elements of themarketing mix .[3]

When setting a price, the marketer must be aware of the customer perceived value for theproduct. Three basic pricing strategies are: market skimming pricing, market penetrationpricing and neutral pricing. The 'reference value' (where the consumer refers to the prices ofcompeting products) and the 'differential value' (the consumer's view of this product's attributes
http://en.wikipedia.org/wiki/Product_(business)http://en.wikipedia.org/wiki/Motor_carhttp://en.wikipedia.org/wiki/Razorhttp://en.wikipedia.org/wiki/Computer_operating_systemhttp://en.wikipedia.org/wiki/Computer_operating_systemhttp://en.wikipedia.org/wiki/Product_life-cycle_theoryhttp://en.wikipedia.org/wiki/Product_lininghttp://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Pricinghttp://en.wikipedia.org/wiki/Price_elasticityhttp://en.wikipedia.org/wiki/Demandhttp://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Customer_perceived_valuehttp://en.wikipedia.org/wiki/Market_skimminghttp://en.wikipedia.org/wiki/Penetration_pricinghttp://en.wikipedia.org/wiki/Penetration_pricinghttp://en.wikipedia.org/wiki/Penetration_pricinghttp://en.wikipedia.org/wiki/Penetration_pricinghttp://en.wikipedia.org/wiki/Market_skimminghttp://en.wikipedia.org/wiki/Customer_perceived_valuehttp://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Demandhttp://en.wikipedia.org/wiki/Price_elasticityhttp://en.wikipedia.org/wiki/Pricinghttp://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Product_lininghttp://en.wikipedia.org/wiki/Product_life-cycle_theoryhttp://en.wikipedia.org/wiki/Computer_operating_systemhttp://en.wikipedia.org/wiki/Computer_operating_systemhttp://en.wikipedia.org/wiki/Razorhttp://en.wikipedia.org/wiki/Motor_carhttp://en.wikipedia.org/wiki/Product_(business)


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versus the attributes of other products) must be taken into account . [3]

Promotion

All of the methods of communication that a marketer may use to provide information to differentparties about the product. Promotion comprises elements such as: advertising, publicrelations, sales organisation and sales promotion .[3]

Advertising covers any communication that is paid for, from cinema commercials, radio andInternet advertisements through print media and billboards. Public relations is where thecommunication is not directly paid for and includes press releases, sponsorship deals,exhibitions, conferences, seminars or trade fairs and events. Word-of-mouth is any apparentlyinformal communication about the product by ordinary individuals, satisfied customers or peoplespecifically engaged to create word of mouth momentum. Sales staff often plays an importantrole in word of mouth and public relations (see 'product' above)

2.2 Objectives and Scope of Study

To study the marketing mix of Shoppers Stop

The objective study of marketing is on suppliers side promoting sales and market the

products. Both short term and long term market, hence the 4ps as per Philip Kotlers.

Corporate decision on roi on products developed and from economics study to reach a

level of equilibrium at which quantity of product that can be sold at what cost. For

product differentiation and company decision to produce, and investment decision, hence

the objective study is on technical feasibility and economic viability of the product and

the unit.

Scope of Study

The scope of study is within the Delhi/NCR Region.

2.3 Managerial usefulness of study

This Project will help the manager to decide on marketing study.

This Project will help the manager to fill the gaps for the company.

2.4 Types of Research and Research Design
http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Promotion_(marketing)http://en.wikipedia.org/wiki/Advertisinghttp://en.wikipedia.org/wiki/Public_relationshttp://en.wikipedia.org/wiki/Public_relationshttp://en.wikipedia.org/w/index.php?title=Sales_organisation&action=edit&redlink=1http://en.wikipedia.org/wiki/Sales_promotionhttp://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Word_of_mouthhttp://en.wikipedia.org/wiki/Word_of_mouthhttp://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3http://en.wikipedia.org/wiki/Sales_promotionhttp://en.wikipedia.org/w/index.php?title=Sales_organisation&action=edit&redlink=1http://en.wikipedia.org/wiki/Public_relationshttp://en.wikipedia.org/wiki/Public_relationshttp://en.wikipedia.org/wiki/Advertisinghttp://en.wikipedia.org/wiki/Promotion_(marketing)http://en.wikipedia.org/wiki/Marketing_mix#cite_note-Business_for_Higher_Awards-3


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Types of Research

1. Descriptive

numerical data gathered through tests, surveys, observations, interviews

variables are not manipulated but are measured as they occur

subgroups may be compared on some measure

two or more variables of a group may be correlate

does not attempt to identify cause of differences or relationships, just if they

exist.

2. Experimental

at least one variable is manipulated and its effects are measured

subjects randomly assigned to experimental treatment and control groups

who are treated thesame except for the treatment variable determines cause and

effect (when intact groups are used it's called quasi experimental).

3. Ex post facto/Causal comparative (What was the possible cause?)

identifies an effect that has already occurred and attempts to infer cause

a treatment variable (alleged cause) is identified (but not manipulated) and

effects are measured groups exposed to the treatment variable are compared to gro

ups who are not identification of cause can be called into question because group

s were not randomly assigned and other extraneous variables were not controlled.


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4. Historical (What was the situation?)

description of past events,problems, issues, facts

data gathered from written or oral descriptions of past events, artifacts, etc.

describes what was in an attempt to reconstruct the past involves much interpretati

on of events and its influence on the present.

5. Ethnographic

indepth analytical description of educational systems, processes, and phenomena w

ithin

a

specific

context based

on

detailed

observations

and

interviews

detailed

exa

mination of a single group, individual, situation, or site is called a case study.

Research designs are classified into two categories: exploratory and descriptive .

1. Exploratory Research: is most commonly unstructured, informal research that is

undertaken to gain background information about the general nature of the

research problem. Exploratory research is systematic and flexible and allows the

researcher to investigate whatever sources he or she desires. Such research may

consist of going to the library and reading published secondary data; of asking

questions, salespersons acquaintances for their opinions about a company, its

products and services, and prices; or of simply observing everyday company

practices.

2. Descriptive Research: which provides answers to questions such as who, what,

where, where and how, as they are related to the research problem. Who- may be

defined as a firms (competitors) customers. What- defined as brands, brands, sizes

that are being purchased. Where- places where customers are purchasing products. Why- we cannot conclusively answer the question of why using

descriptive research.


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2.5 Data Collection MethodsThe data is collected from the Delhi/NCR region.

2.6 Limitations of the Study

The Data was collected from the Delhi/NCR Region, this study was finished in

Delhi/NCR region and the information given will further have an impact in North

India.


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Chapter 3

Conceptual Discussion


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3.1 Review of Literature

The marketing mix management paradigm has dominated marketing thought, research

and practice since it was introduced almost 40 years ago. Today, this paradigm is

beginning to lose its position. New approaches have been emerging in marketingresearch. The globalization of business and the evolving recognition of the importance of

customer retention and market economies and of customer relationship economics,

among other trends, reinforce the change in mainstream marketing. Relationship

building and management, or what has been labeled relationship marketing, is one

leading new approach to marketing which eventually has entered the marketing literature.

A paradigm shift is clearly under way. In services marketing, especially in Europe and

Australia but to some extent also in North America, and in industrial marketing,

especially in Europe, this paradigm shift has already taken place. Books published on

services marketing and on industrial marketing as well as major research reports

published are based on the relationship marketing paradigm. A major shift in the

perception of the fundamentals of marketing is taking place. The shift is so dramatic that

it can, no doubt, be described as a paradigm shift. Marketing researchers have been

passionately convinced about the paradigmatic nature of marketing mix management and

the Four Ps model. To challenge marketing mix management as the basic foundation for

all marketing thinking has been as heretical as it was for Copernicus to proclaim that the

earth moved The purpose of this report is to discuss the nature and consequences of the

dominating marketing paradigm of today, marketing mix management of the managerial

school and how evolving trends in business and modern research into, for example,

industrial marketing, services marketing and customer relationship economics demand a

relationship- oriented approach to marketing. Relationship building and management are

found to be an underlying facet in the research into these areas. Relationship marketing is

suggested as one new marketing paradigm, and a number of consequences for marketingand management of a relationship-type marketing strategy is discussed based on the

notion of a marketing strategy continuum. Finally, the possibility of building a general

theory of marketing based on the relationship approach is examined. A further discussion

of the nature of the relationship marketing paradigm is, however, beyond the scope of

this report.


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Marketing mix and the four Ps

Marketing, the way most textbooks treat it today, was introduced around 1960. The

concept of the marketing mix and the Four Ps of marketing product, price, place and

promotion entered the marketing textbooks at that time. Quickly they also became

treated as the unchallenged basic model of marketing, so totally overpowering previous

models and approaches, such as, for example, the organic functionalist approach

advocated by Alderson as well as other systems-oriented approaches and parameter

theory developed by the Copenhagen School in Europe that these are hardly remembered,

even with a footnote, in most textbooks of today. Earlier approaches, such as the

commodity functional geography-related regional and institutional schools have suffered

a similar fate. Only a few models from these approaches have survived. The AmericanMarketing Association, in its most recent definition, states that marketing is the process

of planning and executing the conception, pricing, promotion and distribution of ideas,

goods and services to create exchange and satisfy individual and organizational

objectives Eventually the Four Ps of the marketing mix became an indisputable

paradigm in academic research, the validity of which was taken for granted For most

marketing researchers in large parts of the academic world it seems to remain the

marketing truth even today. Kent refers to the Four Ps of the marketing mix as the holy

quadruple of the marketing faith written in tablets of stone .For an academic

researcher looking for tenure and promotion, to question it has been to stick out his or her

neck too far. Prospective authors of textbooks, who suggest another organization than the

Four Ps solution for their books, are quickly corrected by most publishers. As a result,

empirical studies of what the key marketing variables are, and how they are perceived

and used by marketing managers, have been neglected. Moreover, structure has been

vastly favoured over process considerations.


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"Shoppers Stop (SSL), consumer sentiments is much better as compared to that of six

months ago and we believe, going forward, it is likely to improve further, led by govt

effort to drive the growth of Indian economy. Going forward, we expect SSS to be in the

range of 7-8 percent. In addition, full ramp-up of stores opened during FY12-FY13

period will aid in healthy topline growth coupled with margin expansion during FY14E-

FY16E period. We expect EBITDA margin to gradually expand to 5.7 percent and 6.2

percent in FY14E and FY15E respectively from 5.2 percent in FY13, said the AB Money

note."

Mumbai, Jan 29 (PTI) Retail chain Shoppers Stop today reported a 11.4 per cent decline

in standalone net profit at Rs 17.09 crore for the third quarter ended December 31, 2012.

The company had posted standalone net profit of Rs 19.29 crore in the corresponding

quarter last fiscal. Its gross retail turnover grew 20 per cent at Rs 685.3 crores for the

quarter against Rs 569.8 crore year-ago. "This year, the festive season and marriage

season came together in the third quarter which gave a boost to overall growth. "The

steady flow of footfalls has kept the registers ringing and delivered double-digit same-

store-sales of 12.5 per cent," company\'s Customer Care Associate and Managing

Director Govind Shrikhande said in a statement. During the quarter SSL added one new

Shoppers Stop store at Bengaluru, one Crossword store at Mumbai, and three M.A.CStores at Gurgaon, Hyderabad and Mumbai and one Clinique store at Gurgaon.

3.3 History and Development of Company and Industry

Shoppers Stop Ltd is a professionally managed and systems driven organisation

promoted by the K Raheja Corp Group (Chandru L Raheja Group), one of the leading


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players in the country in the business of real estate development and hotels.

Pioneer of modern retail in India, Shoppers Stop Ltd has been instrumental in bringing

about retail revolution in India. Since it opened it s doors, the chain has become the

highest benchmark for the Indian retail industry. Since its inception in 1991, Shoppers

Stop Ltd has introduced various retail formats in India. Apart from the flagship business

of department stores, there are also specialty stores for books, home decor and

maternity care & infant care.

Symbolizing the era of global recognition for Indian retailers, Shoppers Stop Ltd is the

only Indian retailer to be shortlisted in the Retail Advertising Award category for its in- store marketing at the retail industry s globally recognized event- World Retail

Congress. Shoppers Stop had been named th e Emerging Market Retailer of the Year at

the prestigious World Retail Awards, which took place on 10th April '08, in Barcelona.

The World Retail Congress is the most influential and highest profile gathering of the

retail industry across all retail segments across the globe.

Shoppers Stop is India s largest retail chain of large format department stores with 51stores in 22 cities across the country occupying an aggregate area of over 2.7 million

square feet with an offering of more than 400 finest international and national brands.

India s premier fashion and lifestyle destination, Shoppers Stop currently has stores in

Ahmedabad, Aurangabad, Amritsar, Bangalore (6 stores), Bhopal, Chennai (3 stores),

Delhi (5 stores), Durgapur, Gurgaon (2 stores), Ghaziabad, Hyderabad (4 stores),

Indore, Jaipur (2 stores), Kolkata (3 stores), Latur, Lucknow, Mumbai (9 stores), Mysore,

Noida, Pune (4 stores), Siliguri and Vijayawada.

Shoppers Stop is also the only Indian member of the Inter Continental Group of

Department Stores (IGDS) along with 29 other experienced retailers from all over the

world. This has helped the company gain insight into the new and emerging practices


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followed internationally.

3.4 New Development of Company and Industry

Expansion and Development of Shoppers Stop.

Year 1991 Opened the first store at Andheri, a suburb at Mumbai, selling only

menswear.

Year 1992 Ladies wear was introduced.

Year 1993 Added children s and Non -apparel sections.

Year 1994 Loyalty Program titles First Citizen was launched.

Year 1995 Opened the second store in Bangalore.

Year 1997 Launched the co-branded credit card for the loyalty members in association

with HSBC and Shoppers Stop incorporated as a body corporate.

Year 1998 Opened the third store in Hyderabad.

Year 1999 Opened the fourth and fifth stores in Jaipur and Delhi.

Year 2000 Opened the six and seventh stores in Chennai and Chembur -Mumbai.

Year 2001 Opened the eight and ninth stores in Pune and Bandra.

Year 2002 Company s initial Public Offering oversubscribed overall by 17.25 times.

Crossword becomes a wholly owned subsidiary of the company.

Year 2006 Opened the twenty first store in Mumbai and twenty second in Lucknow.

Year 2007 Signed a 50:50 Joint Venture with the Nuance Group for Airport Retailing.

Year 2008 Shoppers Stop was awarded the Emerging market retailer of the Year at

the World Retail congress in April 2008.

Year 2009 Pioneered mascot licensing in the categories through the exclusive tie-up for

certain products with Vodafone for their popular brand mascot Zoozoo.

Year 2010 Expanding the stores in new cities and also adding stores in existing citiestaking the store tally to 36 stores.

Year 2011 Shoppers Stop operations expanded to 49 stores in 22 cities.

Year 2012 - Shoppers Stop operations expanded to 55 stores in 24 cities.




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Founded in October 1991 by K. Raheja Corp., the Shoppers Stop retail group operates

a chain of 29 department stores and five hypermarkets under the brand name

HyperCITY in 12 cities across India. Listed on the Bombay Stock Exchange, the retail

group also runs three stores under the Homestop brand and several stores catering

for niche demand under brands such as Mothercare and Crossword. The organization

has more than 5,000 employees.

In mid-2007, Shoppers Stop faced more than 25 of its servers reaching end-of-life,

while management also wanted to reduce datacenter power, cooling and real estate

requirements. The retail group was planning to consolidate its IT infrastructure from

three sites to one co-located datacenter to lower costs and improve manageability.

The consolidation program gave us an opportunity to refresh our infrastructure and

we were aware of what virtualization could deliver after monitoring the technology

for more than three years, said Gopakumar Panick er, Senior Manager at Shoppers

Stop.

After conducting a thorough evaluation, Shoppers Stop concluded that VMware

provided the only fully evolved virtualization product suite in the market. As we

provide shared infrastructure services to multiple business units within Shoppers

Stop, we receive a large number of server provisioning requests, said Panicker. It

was important we implemented an infrastructure that could allow us to meet these

needs quickl y and reliably. VMware fulfilled the brief exceptionally well.

Shoppers Stop engaged VMware Partner Sunfire Technologies Pvt Ltd to install

VMware vSphere 4 and is running about 70 virtual machines on four host servers

supported by a networked storage s ystem. Sunfire performed admirably, with their

consultants demonstrating strong technical ability and a deep understanding of


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VMware s products, said Panicker. With the new infrastructure fully established,

Shoppers Stop now plans to extend virtualization to servers located on-site at stores

and provide disaster recovery for critical applications.

Results

Achieved a 16:1 server consolidation ratio

Operating with a 100:2 server to administrator ratio

Improved CPU utilization by 70% in virtualiza tion cluster

Reduced development times for new applications by 70%

Lowered power and cooling costs by 50%

Cut required rack space by 60 %


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Chapter 4

Data Analysis


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3.2 Methods and techniques of data analysis.

Performance Analysis of the Company

Shopper's Stop Ltd, a Raheja Group company, is one of the largest retailing companies inIndia. The company has more than 200 stores in 23 cities with total area of more than 4.9mn. sq. ft. Around ~37 million people vi sited shopper stop s stores in FY12 withconversion ratio of ~23%. Shoppers Stop s around 2.5 mn loyal customers (first citizenmembers) contribute around 70% to the total sales of Shopper Stop. Apparels segment isthe major contributor (around 62%) to the total sales of the company. The table given

below explains the business model of the company.

10 YEAR X-RAY Analysis:

The valuation of Shopper s Stop Ltd has been done on a consolidated basis consideringthat its subsidiaries account for around 30% of its net sales on a consolidated basis.

The financial performance of the company has been average over the last five years.Though the company has grown its net sales at an impressive rate of ~26% over the last 5years, but the company has been unable to create value for its share holders.The net sales growth was largely driven by the consistent increase in Shopper s Stopstores and acquisitions of Hypercity , a retail chain. Retail industry is a high growth andvery competitive industry in India. Therefore, to increase the sales growth, the companycouldn t pass on the increased raw material cost and fixed cost (rising real estate,employee and electricity cost) to end customers. In addition, Hypercity and Crosswordare loss making businesses of the company. As a result of that, the operating profitmargin (OPM) and net profit margins (NPM) have been affected badly over the years.Therefore, EPS growth has been very erratic and inconsistent over the last five years.


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However, the working capital has improved over the last couple of years, thus posted positive cash flow despite lower profits. Therefore, working capital and net workingcapital days have seen a declining trend over the few years. Also, the company hasreduced its debt level over the last couple of years, thus its net debt to equity ratio standsat comfortable level of ~0.5.With low & inconsistent margins and high investment, the

company has been unable to create value for its share holders. ROE and ROIC have beenvery inconsistent and below to its cost of capital in most of the years. It indicates that themanagement of the company couldn t utilize its fund very efficiently.

Thus, considering above points we can say that the 10 YEAR X- RAY of ShoppersStop Ltd. is Red (Not Good).

Growth rate


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SWOT Analysis of the Company

SWOT Analysis

Strength



3. Loyal customer base with more than 750,000 firstcitizen members

4.Increasing footfalls and conversion rates


Weakness



Opportunity




Threats



4.3 Secondary Data Analysis.


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Analysis Questionnaire

1. What are the strengths and weaknesses of company ?

SWOT Analysis

Strength



3. Loyal customer base with more than 750,000 first

citizen members4.Increasing footfalls and conversion rates


Weakness



Opportunity




Threats




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2. What is the performance analysis of company ?

Shopper's Stop Ltd, a Raheja Group company, is one of the largest retailing

companies in India. The company has more than 200 stores in 23 cities with total

area of more than 4.9 mn. sq. ft. Around ~37 million people visited shopper stop s

stores in FY12 w ith conversion ratio of ~23%. Shoppers Stop s around 2.5 mn loyal

customers (first citizen members) contribute around 70% to the total sales of

Shopper Stop. Apparels segment is the major contributor (around 62%) to the total

sales of the company. The table given below explains the business model of the

company.


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3. What is the growth rate of company ?


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4.What is the reason for expansion?

Planning to add around 20 stores across its brands during the period

Mumbai-based Shopper's Stop Ltd, a premier department store chain promoted by the KRaheja Corp Group, is planning to invest Rs 125 crore this year, to expand its various

brands of retail stores. The company is planning to add around 20 stores across its brandsduring the period, said a senior executive from the company.

The company is planning to expand its department stores with around 8-10 more outlets,the large format hyper market HyperCity with 2-3 stores and its premier home solutionchain HomeShop with another 2-3 shops and five speciality stores across its other brands.

"We will be investing Rs 125 crore this year for expansion. The investment would befrom internal accruals and we can always arrange for debt if it requires," said GovindShrikhande, managing director and customer care associate, Shoppers Stop Ltd. He wasin Chennai to open the 13th HomeStop outlet in the city.

The compay would focus on tier I cities, though it is expanding into the cities like Surat,Agra and Thane, where it expects more customer attraction. It is opening the 56thShoppers Stop and 14th HomeStop, in Chandigarh on Saturday.

Shoppers Stop Ltd also has 12 HyperCity outlets, a business which the company is bringing in changes to make it profitable. The format would be Ebitda (Earnings BeforeInterest, Taxes, Depreciation, and Amortization) positive in store level in next two years,he said.

The company is implementing right sizing of the stores, downsizing some of the storeswhich have larger space and increasing the share of fasion products in the mix. Thefashion products share has been increased from five% earlier to 9.5% at present and isexpected to reach 15% in future. The margin on fashion products, which is higher at 19%is expected to go up to 21% in next 24 months, said Shirkhande.

At present the department store business has around 16% private label products, while inhome segment, it is 25%. This is expected to grow to 18% and 28%, respectively, in thenext two years.

Shoppers Stop, on a consolidated basis, has posted a revenue of Rs 2,400 crore in thethird quarter of the fiscal year ended December 31, 2012, and it is expected to close ataround Rs 3,000 crore by the end of March 31, 2013, for the period which the results areyet to be announced.

The projects, which include the fourth terminal at the JNPT and Chennai Port's megacontainer terminal, will augment the capacity by 280 mtpa


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4. Discuss the industry analysis of company?

Industry Overview (Growth rate of Industry, Contribution to GDP

*Indian Retail Market Share:30%ofGDP

*Share of retail in private consumption:53.3%

*Total retail market:Rs.1,948,916cr.

*Organized retail market:Rs.126,680cr.(6.5%oftotalmarket)

*Growth rate of organized retail:17.39%YOY

Looking at the financial performance of retail players, namely Trent and Shoppers Stop

in September 2012 quarter, one can conclude that it is better to grow at a modest rate and

maintain profitability than being aggressive, especially in the current stressed

environment. While Shoppers Stop reported better growth of 16.6 per cent in standalone

sales (accounted for 70 per cent of its consolidated sales in 2011- 12) compared to Trent s

1.1 per cent, the former s profitability was impacted.

Its operating profit and net profit declined 26 per cent and 67 per cent, respectively

mainly due to higher operating expenses (namely lease rentals, which shot up 27 percent). Secondly, interest and depreciation costs jumped 35 per cent and 62 per cent to Rs

7.7 crore and Rs 14.3 crore, respectively. Part of these can be attributed to the company

opening four new stores. On a consolidated basis, Shoppers Stop's net retail sales grew

13.6 per cent year-on-year to Rs 848 crore in September 2012 quarter while it incurred a

net loss of Rs 5.6 crore compared to a profit of Rs 10.2 crore in the same quarter last

year.


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On the other hand, Trent

reported an operating profit

compared to a loss in same

quarter last year and net profit

surged 164 per cent as the

company substantially brought

down its advertising to sales

expenses from 8.1 per cent in

Q2 FY12 to 3.3 per cent in

Q2 FY13. Also, while th e

company did not open any

new store in the quarter, it hadalso earlier discontinued some

non-profitable operations,

which added to margins. Thus,

the September 2012 quarter saw the company report an operating profit (excluding

other income) of Rs 4.3 crore (loss of Rs 7.4 crore in year ago quarter). Given the

company s focus on improving profitability, analysts expect margins to improve

going ahead. Historically, the company s other income has been the key driver of

profits, but with core retail business doing well it is a positive sign.

Despite diverse financial performance, market punished both the stocks. Going

ahead, Shoppers management says there is good traction in October sales, which

if it continues could lead to 8-10 per cent Like-to-Like sales growth in December

quarter (and 7 per cent for FY13). While the gains of festival sales (and expansion

for Shoppers Stop) will reflect in the current quarter for both the companies,

analysts, however, feel Trent seems to be better placed than Shoppers Stop going

ahead at least given the current stressed environment.


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Says Hiral Sanghvi, analyst, Dalal Broacha Stock Broking, There has been a

significant improvement in the Trent's performance on a year-on-year basis. We

continue to remain positive on the long term business prospects of the company.

We expect the company to post operating margins of 6-7 per cent in the second

half of FY13, on the back of higher sales growth due to festive season and

expected lower advertisement costs."

However, the outlook for Shoppers Stop continues to be grim. Says Abneesh Roy,

analyst, Edelweiss Securities, We expect cost pressures to continue due to rapidexpansion (four more new stores to be added in FY13) and low pricing power due

to slowdown in discretionary spend. We remain concerned on the slowdown in

sales in HyperCity."


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Chapter 5

Findings


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Findings

The research findings suggest that Mumbai-based Shopper's Stop Ltd, a premier

department store chain promoted by the K Raheja Corp Group, is planning to invest Rs

125 crore this year, to expand its various brands of retail stores. The company is planning

to add around 20 stores across its brands during the period, said a senior executive from

the company.

The company is planning to expand its department stores with around 8-10 more outlets,

the large format hyper market HyperCity with 2-3 stores and its premier home solution

chain HomeShop with another 2-3 shops and five speciality stores across its other brands.

"We will be investing Rs 125 crore this year for expansion. The investment would be

from internal accruals and we can always arrange for debt if it requires," said Govind

Shrikhande, managing director and customer care associate, Shoppers Stop Ltd. He was

in Chennai to open the 13th HomeStop outlet in the city.

The compay would focus on tier I cities, though it is expanding into the cities like Surat,

Agra and Thane, where it expects more customer attraction. It is opening the 56th

Shoppers Stop and 14th HomeStop, in Chandigarh on Saturday.

Shoppers Stop Ltd also has 12 HyperCity outlets, a business which the company is

bringing in changes to make it profitable. The format would be Ebitda (Earnings BeforeInterest, Taxes, Depreciation, and Amortization) positive in store level in next two years,

he said.

The company is implementing right sizing of the stores, downsizing some of the stores


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which have larger space and increasing the share of fasion products in the mix. The

fashion products share has been increased from five% earlier to 9.5% at present and is

expected to reach 15% in future. The margin on fashion products, which is higher at 19%

is expected to go up to 21% in next 24 months, said Shirkhande.

At present the department store business has around 16% private label products, while in

home segment, it is 25%. This is expected to grow to 18% and 28%, respectively, in the

next two years.

Shoppers Stop, on a consolidated basis, has posted a revenue of Rs 2,400 crore in the

third quarter of the fiscal year ended December 31, 2012, and it is expected to close at

around Rs 3,000 crore by the end of March 31, 2013, for the period which the results areyet to be announced.


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Chapter 6

Conclusions and Suggestions


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Conclusions and Suggestions

Most important factors that a customer consider while making a hypermarket as a

shopping destination are price factor which explains 26% variance, product- 18.3%, time

factor- 17.8%, entertainment- 16.4%. Loyalty program is in critical area and needs theimmediate attention because it is high on expectation and low on performance

Factors which are in the moderate area of improvement are Discounts, Variety of

merchandise, Quality of apparel, Billing, Display, Parking facility, employee service,

cafeteria.Values for money, Variety in price are the strengths of Vishal Megamart while

Proximity to home performance is at par with the expectation levelsMajority of

customers visiting vishal megamart fall in the age group of 18-40 which is 70 % Majority

of customers fall in the income group of 10000-20000 which is 48%. Next income group

is 20000-30000 which is 22.5%. Majority of customers 89.5% are buying monthly. Thus

the frequency is good to moderate.

From the finding it is evident that 51% customers probably would not recommend the

company to others although 80% claims that they will repurchase. These customers are

satisfied but not loyal to the company. Even 15% say that they would not visit other

stores but also none of the respondent said that they would definitely recommend the

company to others. Thus we cannot say that these 15% are loyal customers.

Visual Merchandising Change in the store leads to increase of the secondary sales, which

proves the effectiveness of Visual Merchandising. Hence VM Concepts and Standards

should be followed seriously.

As the Secondary Sales Data shows the positive effect of Bag and Voucher promo, we

can conclude how important it is to keep offering such promotional schemes. Update of

the market is also required to choose best of the scheme for the specific period.

Customer feedback also required to judge the success of a promo. It is beneficial to fill

the gap to meet customer expectations.


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We could see that top ten sellers contributes 20 to 40 percent of the business sales.Hence

inventory check is required every week so that refill orders could reach the store on time

without hampering the sales.

As we analysed in the target sheet that there is a gap, which could be filled by additional

orders left for primary sales. Hence Targets Sheets are really important to keep a track of

where we are moving and where we are facing shortfalls, a corrective plan will help in

such cases.

Standard operating procedure are really important for franchisee/distributors to

understand, so that loses can be controlled by keeping standardize formats.

Apart from that, the Loyalty program should be employed in the stores of RON to Boost

Sales.


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Bibliography

http://www.slideshare.net/pratikvartak/shoppers-stop-2312484

www.shoppersstop.com/

http://en.wikipedia.org/wiki/Shoppers_Stop

http://www.moneycontrol.com/india/stockpricequote/retail/shoppersstop/SS51

http://economictimes.indiatimes.com/shopper's-stop-ltd/stocks/companyid-2646.cms

http://profit.ndtv.com/stock/shoppers-stop-ltd_shoperstop

http://corporate.shoppersstop.com/corporate/history.aspx

1 . Grnroos, C., Quo vadis, marketing? Towards a neo -classical marketing theory, in

Blomqvist, H.C., Grnroos, C. and Lindqvist, L.J. (Eds), Economics and Marketing.

Essays in Honour of Gsta Mickwitz , Economy and Society, No. 48. Swedish School

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Evaluation , Wiley, New York, NY, 1988.

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http://www.slideshare.net/pratikvartak/shoppers-stop-2312484http://en.wikipedia.org/wiki/Shoppers_Stophttp://www.moneycontrol.com/india/stockpricequote/retail/shoppersstop/SS51http://economictimes.indiatimes.com/shopper's-stop-ltd/stocks/companyid-2646.cmshttp://profit.ndtv.com/stock/shoppers-stop-ltd_shoperstophttp://profit.ndtv.com/stock/shoppers-stop-ltd_shoperstophttp://economictimes.indiatimes.com/shopper's-stop-ltd/stocks/companyid-2646.cmshttp://www.moneycontrol.com/india/stockpricequote/retail/shoppersstop/SS51http://en.wikipedia.org/wiki/Shoppers_Stophttp://www.slideshare.net/pratikvartak/shoppers-stop-2312484


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