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”.
Advertisment Link
:- http://www.youtube.com/watch?v=KHVJM2-3isc
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”…
