INTRODUCTION: Retailing is evolving into a global, high-tech business. Wal-Mart is now the world’s largest corporation and has become the largest food retailer in the United States. French based Carrefour is the world’s second largest retailer. Retailing in developed countries is big business and better organized. But the retail scenario in India is different much of it is in unorganized sector. There are more than 12 million retail outlets of various sizes and formats. And almost 90% of them are less than 500 sq. ft. in size and the per capita retail space is only 2 sq. ft. while US has 16 sq. ft.
India has the largest number of outlet in world i.e. 9 outlets for 1000 people. Most of them are independent and contribute to the retail sales. Because of increasing number of nuclear families, working women, greater work pressure and greater commuting time, convenience has become a priority for Indian customers. They ever want things under one roof for easy access and multiplicity of choice. The growth and development of organized retailing is driven by two main factors- prices and benefits the customer can’t resist.
India is rapidly involving into a competitive market place with potential target consumers in the niche middle class segments. The market trend indicates tremendous growth opportunities. The buying behavior and lifestyle in India too are changing and the concept of “value for money” is fast catching on in Indian retailing. This is the evident from the expansion of the Pantaloons chain into the large format, Big Bazaar. This growth in retail sector is making the retailers powerful intermediates in the marketing channel, bridging the gap between manufactures and consumers.
Keeping in mind the rapid growth of Indian retail industry and its bright future, this has always been a thrust area for me. Big Bazaar is at the top position in Indian retail industry. That is why it attracted me to have summer training (on the job training) in Big Bazaar, Udaipur. Big Bazaar is the retail chain of Future Retail (India) Ltd. And it provides a wide range of products availability for the customers.
As a matter of fact, retail is the buzz word of the Indian economy today. As retail industry is growing at a high pace I wanted to have an overview of the subject. I have chosen Big Bazaar retail chain for the summer training (on the job training) because Big Bazaar retail is very upcoming retail company which is continuously changing its activities with the change of time. I wanted to understand their marketing activities and liked to relate how similar or dissimilar it is from what I have studied in marketing management.
To execute the project, I underwent on the job training at Big Bazaar, Udaipur. The interaction with the Store Manager, Operational Manager and other staff personnel was fruitful to me as it cleared many core concepts when it came to practical application.
The main objective of the project was to get practical training of what we have learnt theoretical in the classroom. In other words, it was to get practical exposure of all the marketing skills and how to implement in the real situation.
The other objectives of the project were the following:
- To look at the current trends in the Indian organized retail industry.
- To understand the Big Bazaar organization as how systematically it is run by the management personnel.
- To know about the marketing activities of the Big Bazaar done round the year.
- To know the customer queries, comments and suggestions about the store and its products.
- To know about the promotional activities done at Big Bazaar to increase the sales.
- To get acquainted with the major issues in the Indian organized retail industry.
In fact, the training was for the practical aspects of the management skills and it was fruitful as the main objective of the project was fulfilled satisfactorily. During the training period, I learnt about the store organization and different activities performed by staff personnel. Big Bazaar brings various schemes for the festival season and offers wide product choice to the customers.