[/b]EVOLUTION OF BRAND[/b]
CONTENTS[/b]
Sl. No.[/b]
Topic[/b]
Page No.[/b]
I
INTRODUCTION TO THE PROJECT
II
RESEARCH METHODOLOGY
III
ANALYSIS AND FINDINGS
IV
CONCLUSION AND RECOMMENDATION
V
REFERENCES
[/b]
[/b]
RETAIL
INDUSTRY IN INDIA[/b]
India
has one of the largest numbers of retail outlets in the world. Of the 12
million retail outlets present in the country, nearly 5 million sell food and
related products. Thought the market has been dominated by unorganized players,
the entry of domestic and international organised players is set to change the
scenario.
Organized retail segment has been
growing at a blistering pace, exceeding all previous estimates. According to a
study by Deloitte Haskins and Sells, organised retail has increased its share
from 5 per cent of total retail sales in 2006 to 8 per cent in 2007. The
fastest growing segments have been the wholesale cash and carry stores (150 per
cent) followed by supermarkets (100 per cent) and hypermarkets (75-80 per
cent). Further, it estimates the organised segment to account for 25 per cent
of the total sales by 2011.
India
retail industry is the largest industry in India, with an employment of around
8% and contributing to over 10% of the country's GDP. Retail industry in India is
expected to rise 25% yearly being driven by strong income growth, changing
lifestyles, and favourable demographic patterns.
It is expected that by 2016 modern
retail industry in India
will be worth US$ 175- 200 billion. India retail industry is one of the
fastest growing industries with revenue expected in 2007 to amount US$ 320
billion and is increasing at a rate of 5% yearly. A further increase of 7-8% is
expected in the industry of retail in India by growth in consumerism in
urban areas, rising incomes, and a steep rise in rural consumption. It has
further been predicted that the retailing industry in India will
amount to US$ 21.5 billion by 2010 from the current size of US$ 7.5 billion.
Shopping in India has
witnessed a revolution with the change in the consumer buying behaviour and the
whole format of shopping also altering. Industry of retail in India which has
become modern can be seen from the fact that there are multi- stored malls,
huge shopping centres, and sprawling complexes which offer food, shopping, and
entertainment all under the same roof.
India
retail industry is expanding itself most aggressively; as a result a great
demand for real estate is being created. Indian retailers preferred means of
expansion is to expand to other regions and to increase the number of their
outlets in a city. It is expected that by 2010, India may have 600 new shopping centres.
India
retail industry is progressing well and for this to continue retailers as well
as the Indian government will have to make a combined effort.
Challenges facing the Indian
Organized Retail sector
The
challenges facing the Indian organized retail sector are various and these are
stopping the Indian retail industry from reaching its full potential. The
behaviour pattern of the Indian consumer has undergone a major change. This has
happened for the Indian consumer is earning more now, western influences, women
working force is increasing, desire for luxury items and better quality. He now
wants to eat, shop, and get entertained under the same roof. All these have
lead the Indian organized retail sector to give more in order to satisfy the
Indian customer.
The
biggest challenge facing the Indian organized retail sector is the lack of
retail space. With real estate prices escalating due to increase in demand from
the Indian organized retail sector, it is posing a challenge to its growth.
With Indian retailers having to shell out more for retail space it is effecting
there overall profitability in retail.
Trained
manpower shortage is a challenge facing the organized retail sector in India. The
Indian retailers have difficultly in finding trained person and also have to
pay more in order to retain them. This again brings down the Indian retailers
profit levels.
The
Indian government have allowed 51% foreign direct investment (FDI) in the India retail
sector to one brand shops only. This has made the entry of global retail giants
to organized retail sector in India
difficult. This is a challenge being faced by the Indian organized retail
sector. But the global retail giants like Tesco, Wal-Mart, and Metro AG are
entering the organized retail sector in India indirectly through franchisee
agreement and cash and carry wholesale trading. Many Indian companies are also
entering the Indian organized retail sector like Reliance Industries Limited,
Pantaloons, and Bharti Telecoms. But they are facing stiff competition from
these global retail giants. As a result discounting is becoming an accepted
practice.
[/b]
PROFILE
OF THE COMPANIES[/b]
NEXT
RETAIL INDIA LIMITED[/b]
NEXT[/b]
is one of the emerging giants in the organized retailing of consumer
electronics and home appliances products which has been formed to tap the
immense potential of the 50,000 crores retail industry. NEXT is a project
developed by a consortium of incestors and professionals with more than 3
decades of retail experience.
Under the aegis of Next
Retail India Ltd, Next has now become the only consumer electronics chain that
delivers across India with its presence in 16 states and over 384 outlets
spanning across all metros and mini metros in the country.
Aiming to be a
multi-brand multi-product outlet it stocks an entire range of consumer durables
right from Air-conditioners, LCD and Plasma Tvs, Home Theatre System, Washing
Machine, Refrigerators, Microwaves to small Home Appliances. Next has some of
the topmost brands such as Electrolux,
Hcl, Hyundai, Kelvinator, Kenstar, Lg, Next, Nokia, Onida, Philips, Sahara,
Samsung, Sansui, Toshiba, Videocon[/b] including its own brand under its
stable.
Next has an ambitious
plan to create a network of more than 400 retail outlets and a targeted
turnover of more than Rs. 700 crores by next year. Being India’s largest chain
of electronics showroom, NEXT
promises to deliver across the country subject to the availability of a NEXT outlet in the state.
Further NEXT is the only chain to do
institutional supplies across all product categories and across brands. NEXT has always stood by its promise
of “Best brands. Best
bargains.” The highflying brands you come across here are coupled with a
host of freebies - surprise gifts, specialized prices, opening offers, holiday
packages, zero percent finance options, attractive exchange offers and free
home delivery within city limits – as part of a launch offer.
And aah! there is also
an exclusive range of NEXT CTV’s
and home appliances. Now, NEXT
is all set to enter other lifestyle categories as well. For a consumer, this
means a complete shopping experience. A single roof, under which premium brands
from various categories would be available at competitive prices. It is reasons
such as these that have positioned NEXT
as an emerging leader with a host of multinational brands in its kitty.
According to Mr. Dhruva, Chief Operating Officer, NEXT
Retail India Ltd. has some very aggressive plans chalked out for brand NEXT. Efforts are on to expand the
network to more than 400 retail outlets in the near future, with a targeted
turnover of more than Rs. 700 crores next year. So the next time you decide to
shop, don’t go far. Because there may well be a NEXT outlet close by, waiting to take you far!
Next Vision The vision of NEXT is to be the number one in the
retail field in our category and to become a globally recognized company
through innovation, passion through quality, freedom through empowerment, and
cost through volumes. We should imbibe a world class system to bring in delight
to all our associates and the society at large.
Next Mission The mission of NEXT is to create unique customer
satisfaction through innovation, quality, productivity, human resource
development, freedom through empowerment, continuously striving for excellence
with pride in our values and confidence in our approach.
Unique to Next Only chain of outlets
to deliver across India. Only chain which does institutional supplies across
all product categories and across brands. Customer Oriented organization – have
even created special email ids for suggestions / complaints of customers and
employees Always Open to suggestions & improvements.
NEXT Retail India, Ltd.
engages in retailing consumer electronics in India. The company offers
air-conditioners, LCD and plasma televisions, home theatre systems, washing
machines, refrigerators, microwaves, and small home appliances. It operates
retail outlets in India. The company is based in Mumbai, India. NEXT Retail
India, Ltd. is a subsidiary of Videocon Industries, Ltd.
[/b]
[/b]
[/b]
[/b]
Parent Company[/b]
In 1985, through a
technical tie-up with Toshiba Corporation of Japan, Videocon International
Limited launched India's first world class Color Television. Today, Videocon
International Ltd., the flagship company of the Videocon Group, is India's
leading manufacturer of Consumer Electronic products. Fired by a passion for
innovation, Videocon has kept pace with the changing face of technology,
constantly upgrading its manufacturing facilities to incorporate advanced
technology and high standards of quality into its product range, right across
the spectrum. Making the Group's diversification into the Home Appliances,
Videocon has continued with its mission of bringing the benefits of innovative
technology to millions of homes.
Indian durable major
Videocon has quietly moved into the consumer durables retailing space through
NEXT, a chain of across the country. NEXT is the revamped
and scaled up version of Plugin Sales, the Vijaypat Singhania-backed Raymond’s
durable retail chain
SYNOPSIS
OF THE STUDY
[/b]
Objectives of the Study[/b]
v At different points of
time, study how the following have changed:
1) Brand Name
2)
Brand symbol
3) Brand slogan
4) Brand personality
5) Brand Positioning
6) Brand Identity
7) Brand Value
v Conduct a Survey /
Interviews to study the above
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
Tools of Data Collection[/b]
[/b]
Primary
Data[/b]
Interviewing
the Cluster Manager Questionnaires,
Surveys,
Approaching the outlets
Directly.
[/b]
Secondary
Data[/b]
[/b]
Internet
Blogs.
[/b]
CONTENTS[/b]
Sl. No.[/b]
Topic[/b]
Page No.[/b]
I
INTRODUCTION TO THE PROJECT
II
RESEARCH METHODOLOGY
III
ANALYSIS AND FINDINGS
IV
CONCLUSION AND RECOMMENDATION
V
REFERENCES
[/b]
[/b]
RETAIL
INDUSTRY IN INDIA[/b]
India
has one of the largest numbers of retail outlets in the world. Of the 12
million retail outlets present in the country, nearly 5 million sell food and
related products. Thought the market has been dominated by unorganized players,
the entry of domestic and international organised players is set to change the
scenario.
Organized retail segment has been
growing at a blistering pace, exceeding all previous estimates. According to a
study by Deloitte Haskins and Sells, organised retail has increased its share
from 5 per cent of total retail sales in 2006 to 8 per cent in 2007. The
fastest growing segments have been the wholesale cash and carry stores (150 per
cent) followed by supermarkets (100 per cent) and hypermarkets (75-80 per
cent). Further, it estimates the organised segment to account for 25 per cent
of the total sales by 2011.
India
retail industry is the largest industry in India, with an employment of around
8% and contributing to over 10% of the country's GDP. Retail industry in India is
expected to rise 25% yearly being driven by strong income growth, changing
lifestyles, and favourable demographic patterns.
It is expected that by 2016 modern
retail industry in India
will be worth US$ 175- 200 billion. India retail industry is one of the
fastest growing industries with revenue expected in 2007 to amount US$ 320
billion and is increasing at a rate of 5% yearly. A further increase of 7-8% is
expected in the industry of retail in India by growth in consumerism in
urban areas, rising incomes, and a steep rise in rural consumption. It has
further been predicted that the retailing industry in India will
amount to US$ 21.5 billion by 2010 from the current size of US$ 7.5 billion.
Shopping in India has
witnessed a revolution with the change in the consumer buying behaviour and the
whole format of shopping also altering. Industry of retail in India which has
become modern can be seen from the fact that there are multi- stored malls,
huge shopping centres, and sprawling complexes which offer food, shopping, and
entertainment all under the same roof.
India
retail industry is expanding itself most aggressively; as a result a great
demand for real estate is being created. Indian retailers preferred means of
expansion is to expand to other regions and to increase the number of their
outlets in a city. It is expected that by 2010, India may have 600 new shopping centres.
India
retail industry is progressing well and for this to continue retailers as well
as the Indian government will have to make a combined effort.
Challenges facing the Indian
Organized Retail sector
The
challenges facing the Indian organized retail sector are various and these are
stopping the Indian retail industry from reaching its full potential. The
behaviour pattern of the Indian consumer has undergone a major change. This has
happened for the Indian consumer is earning more now, western influences, women
working force is increasing, desire for luxury items and better quality. He now
wants to eat, shop, and get entertained under the same roof. All these have
lead the Indian organized retail sector to give more in order to satisfy the
Indian customer.
The
biggest challenge facing the Indian organized retail sector is the lack of
retail space. With real estate prices escalating due to increase in demand from
the Indian organized retail sector, it is posing a challenge to its growth.
With Indian retailers having to shell out more for retail space it is effecting
there overall profitability in retail.
Trained
manpower shortage is a challenge facing the organized retail sector in India. The
Indian retailers have difficultly in finding trained person and also have to
pay more in order to retain them. This again brings down the Indian retailers
profit levels.
The
Indian government have allowed 51% foreign direct investment (FDI) in the India retail
sector to one brand shops only. This has made the entry of global retail giants
to organized retail sector in India
difficult. This is a challenge being faced by the Indian organized retail
sector. But the global retail giants like Tesco, Wal-Mart, and Metro AG are
entering the organized retail sector in India indirectly through franchisee
agreement and cash and carry wholesale trading. Many Indian companies are also
entering the Indian organized retail sector like Reliance Industries Limited,
Pantaloons, and Bharti Telecoms. But they are facing stiff competition from
these global retail giants. As a result discounting is becoming an accepted
practice.
[/b]
PROFILE
OF THE COMPANIES[/b]
NEXT
RETAIL INDIA LIMITED[/b]
NEXT[/b]
is one of the emerging giants in the organized retailing of consumer
electronics and home appliances products which has been formed to tap the
immense potential of the 50,000 crores retail industry. NEXT is a project
developed by a consortium of incestors and professionals with more than 3
decades of retail experience.
Under the aegis of Next
Retail India Ltd, Next has now become the only consumer electronics chain that
delivers across India with its presence in 16 states and over 384 outlets
spanning across all metros and mini metros in the country.
Aiming to be a
multi-brand multi-product outlet it stocks an entire range of consumer durables
right from Air-conditioners, LCD and Plasma Tvs, Home Theatre System, Washing
Machine, Refrigerators, Microwaves to small Home Appliances. Next has some of
the topmost brands such as Electrolux,
Hcl, Hyundai, Kelvinator, Kenstar, Lg, Next, Nokia, Onida, Philips, Sahara,
Samsung, Sansui, Toshiba, Videocon[/b] including its own brand under its
stable.
Next has an ambitious
plan to create a network of more than 400 retail outlets and a targeted
turnover of more than Rs. 700 crores by next year. Being India’s largest chain
of electronics showroom, NEXT
promises to deliver across the country subject to the availability of a NEXT outlet in the state.
Further NEXT is the only chain to do
institutional supplies across all product categories and across brands. NEXT has always stood by its promise
of “Best brands. Best
bargains.” The highflying brands you come across here are coupled with a
host of freebies - surprise gifts, specialized prices, opening offers, holiday
packages, zero percent finance options, attractive exchange offers and free
home delivery within city limits – as part of a launch offer.
And aah! there is also
an exclusive range of NEXT CTV’s
and home appliances. Now, NEXT
is all set to enter other lifestyle categories as well. For a consumer, this
means a complete shopping experience. A single roof, under which premium brands
from various categories would be available at competitive prices. It is reasons
such as these that have positioned NEXT
as an emerging leader with a host of multinational brands in its kitty.
According to Mr. Dhruva, Chief Operating Officer, NEXT
Retail India Ltd. has some very aggressive plans chalked out for brand NEXT. Efforts are on to expand the
network to more than 400 retail outlets in the near future, with a targeted
turnover of more than Rs. 700 crores next year. So the next time you decide to
shop, don’t go far. Because there may well be a NEXT outlet close by, waiting to take you far!
Next Vision The vision of NEXT is to be the number one in the
retail field in our category and to become a globally recognized company
through innovation, passion through quality, freedom through empowerment, and
cost through volumes. We should imbibe a world class system to bring in delight
to all our associates and the society at large.
Next Mission The mission of NEXT is to create unique customer
satisfaction through innovation, quality, productivity, human resource
development, freedom through empowerment, continuously striving for excellence
with pride in our values and confidence in our approach.
Unique to Next Only chain of outlets
to deliver across India. Only chain which does institutional supplies across
all product categories and across brands. Customer Oriented organization – have
even created special email ids for suggestions / complaints of customers and
employees Always Open to suggestions & improvements.
NEXT Retail India, Ltd.
engages in retailing consumer electronics in India. The company offers
air-conditioners, LCD and plasma televisions, home theatre systems, washing
machines, refrigerators, microwaves, and small home appliances. It operates
retail outlets in India. The company is based in Mumbai, India. NEXT Retail
India, Ltd. is a subsidiary of Videocon Industries, Ltd.
[/b]
[/b]
[/b]
[/b]
Parent Company[/b]
In 1985, through a
technical tie-up with Toshiba Corporation of Japan, Videocon International
Limited launched India's first world class Color Television. Today, Videocon
International Ltd., the flagship company of the Videocon Group, is India's
leading manufacturer of Consumer Electronic products. Fired by a passion for
innovation, Videocon has kept pace with the changing face of technology,
constantly upgrading its manufacturing facilities to incorporate advanced
technology and high standards of quality into its product range, right across
the spectrum. Making the Group's diversification into the Home Appliances,
Videocon has continued with its mission of bringing the benefits of innovative
technology to millions of homes.
Indian durable major
Videocon has quietly moved into the consumer durables retailing space through
NEXT, a chain of across the country. NEXT is the revamped
and scaled up version of Plugin Sales, the Vijaypat Singhania-backed Raymond’s
durable retail chain
SYNOPSIS
OF THE STUDY
[/b]
Objectives of the Study[/b]
v At different points of
time, study how the following have changed:
1) Brand Name
2)
Brand symbol
3) Brand slogan
4) Brand personality
5) Brand Positioning
6) Brand Identity
7) Brand Value
v Conduct a Survey /
Interviews to study the above
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
[/b]
Tools of Data Collection[/b]
[/b]
Data[/b]
Interviewing
the Cluster Manager Questionnaires,
Surveys,
Approaching the outlets
Directly.
[/b]
Data[/b]
[/b]
Internet
Blogs.
[/b]