Monday, May 14, 2012

Big Bazaar : Price Challenge

Few months back, a giant hyper –market retailing brand “Big Bazaar” (A part of Future Groups) has been celebrated its successful 10 years & also revamped its corporate identity by changing logo & tagline. Now, it is focusing on “Naye India Ka bazzar” as per modern trend or indian consumers scenario.

The core competency of “Big bazaar” is always focus on “Pricing Strategy with offering branded items” which is targeting to mass people & all class of consumers. Big Bazaar has made change the buying scenario from “Kirana/Provision Stores to Big BazaarMall’. Though, middle class or lower middle class consumers are preferring to buy from provision stroes. However, Big Bazzar has never give up its efforts to divert/churn more consumers from provision stroes to Mall.

This is the only strong brand which is offering “competitve price” by executing various strategy. Big Bazaar has already been built up good position in the consumers mind. Still, it has to need build up strong brand equity & brand loyalty towards consumers.

Recently, Big Bazaar has released advertising campaign which is focusing on promotinal pricing strategy. The campaign is already released a year ago but now again it is being run because the summer season is going on in India. So, Big Bazaar is trying to take good opportunity by providing “ROI”.

This campaign is endorsed by bollywood actress Vidya Balan & offering “Big Bazaar Price Challenge” where company will give you refund double money if you will get low quality for same brand from other place. The startegy execuion is about offering challenge with very much confidence where consumers are ready to buy or willingly go to buy products from Big Bazaar.

There are many others retail mall available in Indian market, but difficult to beat Big Bazaar. Before 3-4 years ago, Reliance Mart has been executed various startegy & also opened many malls in various states. But, it could not compete longer against Big Bazaar. Reliance has been execued different strategy that it came with category wise in Indian market like Relaince Fresh (For Vegetable n Fruits etc.), Reliance Jweles (For Jwellery), Reliance Footwear, Reliance Super mart etc.

Big Bazaar is executing right strategy on right time and this campaign is also being released on right time. Big Bazaar is focusing more on print media & Radio than TVC & it can be right startegy planning as per target consumers.

Share your views about “Pricing Strategy”…  

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