pantaloons brand management

Project Report

Submitted by:

Rahul Dutt Avasthy – 8 Ankit Jain - 23 Rajat Lauria – 33 Sidharth Malik – 36 Gaurav Saxena - 49

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Acknowledgement

We would like to express my gratitude to all those who gave us the possibility to complete this project. We want to thank the Department of  Marketing of Pantaloon Retail India Limited for giving us permission to commence this project in the first instance, to do the necessary research work work and to us use e depa depart rtme ment ntal al data data.. Most Most impo import rtant ant we than thank k Mrs Mrs Bhagyalaxmi for mentoring us throughout.

We are deeply indebted to my supervisor Mr. Nirmalya Ghosh (Assistant Mana Manage ger, r,

Mar Marketi keting ng))

and and

Ms

Ishi Ishita ta

Seng Sengup upta ta

(sen (senio iorr

exec execut utiv ive, e,

Market Marketing ing)) whose whose help, help, sti stimul mulati ating ng sugges suggestio tions ns and encour encourage agemen mentt helped us in all the time of research for and writing of this project.

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Contents



Sector (Submission 1)



Company Profile



Future Group



Rewrite Rules. Retain Values



Introduction



Understanding the Language of Branding



The Brand Management Process



Pantaloons : Fresh Fashion



Brands at Pantaloons



Branding in Pantaloons



Communication Communication the HO and the Zonal Office



Brand Research Process in Pantaloon



Brand Audit

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Sector: Retail Company: Pantaloon Retail (India) Limited Competitors: Shoppers Stop, Reliance Trends and Lifestyle. Why Retail?

Traditionally, the retail industry in India comprised of large, medium and small groce grocery ry store stores s and and drug drug stor stores es whic which h coul could d be cate categor goriz ized ed as unorg unorgan aniz ized ed retailing. Most of the organized retailing in India had recently started and was mainly concentrated in metropolitan cities. Indian retail market is the fifth largest retail destination globally. The share of retail trade in the country's gross domestic product (GDP) was between 8–10 per cent in 2007. It is currently around 12 per cent, and is likely to reach 22 per cent by 2010. Foreign direct investment (FDI) inflows as on January 2009, in single-brand retail tradi tr ading ng,, st stoo ood d at ap appr prox. ox. US US$ $ 25. 25.18 18 mi millllio ion, n, ac acco cordi rding ng to th the e De Depa part rtme ment nt of  Industrial Policy and Promotion (DIPP). As a democratic country with high growth rates, consumer spending has risen sharply as the youth popula population tion (more than 33 percent of the country is below the age of 15) has seen a significant increase in its disposable income. Consumer  spending spendin g rose an impressive impressive 75 per cent in the past four years alone. alone. Organi Organised sed retail, which accounts for almost 5 per cent of the market, is expected to grow at a CAGR of 40 per cent from US$ 20 billion in 2007 to US$ 107 billion by 2013. It is important to study the brand which is a store of all brands. The retail market in India is highly competitive and with major players such as Walmart and Tesco entering the industry it is set to grow even further. It is thus important to see how well, which player in the organised retail industry manages to pull consumers in their stores. Especially in the Retail Industry there is more focus on repeated sales and sustaining the customers for a long time. Why Pantaloon?

Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer  market. Headquartered in Mumbai, the company operates over 12,000,000 square feet (1,100,000 m2) of retail space, has over 1,000 stores across 71 cities in India

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and employs over 30,000 people. Pantaloon Pantaloon Retail was awarded the International International Retailer of the Year 2007 by the US-based National Retail Federation (NRF) and the Emerging Market Retailer Retailer of the Year 2007 at the World Retail Congress held in Barc Barcel elona ona.. Pant Pantal aloon oon Retai Retaill is the the flag flagsh ship ip comp compan any y of Futu Future re Grou Group, p, a business group catering to the entire Indian consumption space.

Company Profile

Pantaloon Retail (India) Limited, is India's leading retail company with presence across multiple lines of businesses. The company owns and manages multiple retail formats that cater to a wide cross-section of the Indian Indian societ society y and is able able to captur capture e almost almost the entire entire consumpti consumption on basket of the Indian consumer. Headquartered in Mumbai, the company operates through 5 million square feet of retail space, has over 331 stores across 40 cities in India and employs over 17,000 people. The company registered a turnover of Rs 2,019 crore for FY 2005-06.

Pantaloon Retail forayed into modern retail in 1997 with the launching of  fashion fashion retail retail chain, chain, Pantal Pantaloon oons s in Kolkat Kolkata. a. In 20 2001 01,, it launch launched ed Big Bazaar, a hypermarket chain that combines the look and feel of Indian bazaar bazaars, s, with with aspect aspects s of moder modern n retai retail, l, like like choice choice,, conven convenien ience ce and hygiene. This was was followed by Food Bazaar, food and grocery grocery chain and launch Central, a first of its kind seamless mall located in the heart of  major Indian cities. Some of it's other formats include, Collection i (home improvement products), E-Zone (consumer electronics), Depot (books, musi music, c,

gift gifts s

and and

stat statiionar onary) y),,

aLL aLL

(fash fashiion

appa apparrel

for for

plus plus--siz size

individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories). It has recently launched its etailing venture, futurebazaar.com.

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 The group's subsidiary companies include, Home Solutions Retail India Ltd, Pantaloon Industries Ltd, Galaxy Entertainment and Indus League Clothing. The group also has joint venture companies with a number of  partne partners rs includ including ing French French retai retailer ler Etam group, group, Lee Cooper Cooper,, Manipa Manipall Healthcare, Talwalkar's, Gini & Jony and Liberty Shoes. Planet Retail, a group company owns the franchisee of international brands like Marks & Spencer, Debenhams, Next and Guess in India.

Future Group

Pantaloon Retail is the flagship enterprise of the Future Group, which is positioned to cater to the entire Indian consumption space. The Future Group operates through six verticals: Future Retail (encompassing all retail retail busine businesse sses), s), Future Future Capita Capitall (financ (financial ial produc products ts and servic services) es),, Future Future Brands Brands (managemen (managementt of all brands owned or managed by group companies), companies), Future Space (manageme (management nt of retail retail real estate), Future Logist Logistics ics (mana (managem gement ent of supply supply chain chain and dis distri tribut bution ion)) and Future Future Media (development and management of retail media).

Future Future Capita Capitall Holdin Holdings, gs, the group' group's s financ financial ial arm, arm, focuse focuses s on asset asset mana manage geme ment nt and and cons consum umer er fina financ nce. e. It mana manage ges s two two real real esta estate te invest investmen mentt funds funds (Hori (Horizon zon and Kshiti Kshitij) j) and consum consumer er-re -relat lated ed privat private e equity equity fund, fund, Indiv Indivisi ision. on. It also also plans plans to get into into ins insura urance nce,, consum consumer er credit and other consumer-related financial products and services in the near future.

Future Group's vision is to, "Deliver Everything, Everywhere, Everytime to Every Indian Consumer in the most profitable manner." One of the core values at Future Group is, 'Indianess' and its corporate credo is Rewrite rules, Retain values.

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Future Group Manifesto

“Futur “Future” e” – the word word which which sig signif nifie ies s optim optimism ism,, growth growth,, achiev achieveme ement, nt, streng strength, th, beauty beauty,, rewar rewards ds and perfec perfectio tion. n. Future Future encour encourage ages s us to explor explore e areas areas yet unexpl unexplore ored, d, write write rules rules yet unwrit unwritten ten;; create create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and re-learn, our ability to evolve.

We, in Future Group, will not wait for the Future to unfold itself but crea create te

fut future ure

scen sc enar ario ios s

in

the the

consu onsum mer

spac sp ace e

and and

facil aciliitate tate

consumption consumption because because consumption consumption is developme development. nt. Thereby, Thereby, we will effect effect sociosocio-eco econom nomic ic develo developme pment nt for our custom customers ers,, employ employees ees,, shareholders, associates and partners.

Our customers will not just get what they need, but also get them where, how and when they need.

We will not just post satisfactory results, we will write success stories.

We will not just operate efficiently in the Indian economy, we will evolve it.

We will not just spot trends, we will set trends by marrying our und unders erstand anding ing

of

the

Indi Indian an consu onsume mer r

to

their eir

nee needs of 

tomorrow.

Rewrite Rules. Retain Values.

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Group Vision

Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner.

Group Mission

1. We

share

the

vision

a nd

belief

that

our

customers

and

stakeholders shall be served only by creating and executing future sce sc enar narios ios

in

the the

consu onsump mpttion ion

spac sp ace e

leadin ading g

to

econo conom mic

development.

2. We will be the trendsett trendsetters ers in evolving evolving delivery delivery formats, formats, creating creating retai retaill realt realty, y, making making consum consumpti ption on afford affordabl able e for all custom customer er segments – for classes and for masses.

3. We sh shal alll infu infuse se Indi Indian an bran brands ds with with conf confid iden ence ce and and rene renewe wed d ambition.

4. We shall be be efficient, efficient, costcost- conscious conscious and commit committed ted to quality quality in whatever we do.

5. We shall ensure that our positive attitude, sincerity, humility and

unit united ed dete determ rmin inat atio ion n sh shal alll be the the driv drivin ing g forc force e to make make us successful.

Core Values

•

Indianness: confidence in ourselves.

•

Leadership: to be a leader, both in thought and business.

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•

Respect & Humility: to respect every individual and be humble in our conduct.

•

Introspection: leading to purposeful thinking.

•

Openness: to be open and receptive to new ideas, knowledge and information.

•

Valui aluing ng

and

Nurt Nurtur urin ing g

Relat elatio ions nshi hips ps::

to

buil build d

long ong

ter term

relationships. •

Simpli Simplicit city y & Positi Positivit vity: y: Simpli Simplicit city y and positi positivit vity y in our though thought, t, business and action.

•

Adaptability: to be flexible and adaptable, adapta ble, to meet challenges.

•

Flow: to respect and understand the universal laws of nature.

Introduction

 The brand is increasingly becoming the key source of differentiation that guides customer purchase choice. It is the focal point around which an organ organiz izat atio ion n defi define nes s how how it will will uniq unique uely ly deli delive verr the the valu value e to the the customer for a profit-effectively embodying the “Heart and Soul” of the organi organizat zation ion.. The brand’ brand’s s promis promise e is delive delivered red throug through h its produc products, ts, serv servic ices es,, and cons consum umer er comm commun unic icat atio ionn- the the total total rela relati tion onshi ship p and and experience. If the brand is well conceived and consistently delivered through all business processes and customer contacts, the organization will grow prosper.

Not too long ago, marketers at consumer product companies seemed to be the only ones interested in talking about Brand Management and Branding. Branding. But these days, all kinds of organizati organizations ons are recogniz recognizing ing the importance of branding.

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Branding also becomes a critical issue for business that spun off from parent company and as more and more companies merge or acquire one one anot anothe her. r. The The bran brand d iden identi tity ty of the the new new comb combin ined ed ente enterp rpri rise se becomes a critical decision. Organizations have discovered the Brand are perhaps their most important assets for a number of reasons.

 The Brand Equity creates a relationship and a strong bond which grows over time. It is often so strong that it compensates for performance flaws: an out-of-stock situation, Poor customer service, a product that falls apart, inconvenient store hours, a higher than average price, and so on. on. In the the end, end, you you want want to deli delive verr good good qual qualit ity y and and good good valu value, e, innovation, relevant differentiation, Convenience and accessibility with

‘building g brand brand your your Bran Brand. d. Howe Howeve ver, r, we must must neve neverr forg forget et that that ‘buildin equity is like building a close friendship’ . It requires a consistent relationship over time, Trust, and an emotional connection.

UNDERSTANDING THE LANGUAGE OF BRANDING

It is important to establish a common brand management vocabulary in you organization. Establishing this common vocabulary will ensure that peop people le can can comm commun unic icat ate e with with fewe fewerr misun misunde ders rsta tand ndin ing. g. Ther There e are are different terms used to describe positioning the brand. Terms ranged from ‘essence’ and ‘promise’ to ‘position’ and ‘unique value proposition.

Brand: The The Amer Americ ican an Mark Market etin ing g As Asso soci ciati ation on desc descri ribe bes s a bran brand d as ‘name, term, symbol or design, or a combination of them intended to identify the goods and service of one seller or group of sellers and to differentiate them from those of competition’ .

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Brand Brand Essence: Essence: This is the heart and soul of a brand – a brand’s fundamental nature and quality. Usually stated in two to three words, a brand’ brand’s s essenc essence e is the one consta constant nt across across produc productt catego categorie ries s and throughout the world.

Brand Promise: A brand promise is often stated as: as: Only [brand name] delive delivers rs [benef [benefit] it] in [produ [product ct or servic service e catego category] ry].. Sometime Sometimes, s, with corporate

brands,

it

is

stated

as:

[Brand

name]

is

the

(trusted/quality/innovative) leader in [benefit] in the [product or service category].

Brand Positioning: Positioning: This is the way the brand is perceived within a given competitive set in the consumer’s mind.

Brand Personality:   This refers to adjectives that describe the brand (such (such as fun, fun, kind kind,, sexy sexy,, safe, safe, sinc sincer ere, e, soph sophis isti tica cate ted, d, chee cheerf rful ul,, old old fashion fashioned, ed, reliab reliable, le, progre progressiv ssive). e). How consum consumers ers percei perceive ve a brand’ brand’s s personality is often discovered through qualitative research, by asking people to describe the brand as if it were a person or a animal.

Brand Association: Association: This refers to anything a consumer associates with the brand in his/her mind.

Brand Brand Equity: Equity: This This is the comme commerci rcial al value value of all associati associations ons and expected (positive and negative) that people have of an organization and its products and services due to all experiences of, communications with, and perception of the brand over time.

Brand Brand Image: Image: This This is the the tota totali lity ty of perc percep epti tion ons s resu result ltin ing g from from all all expe experi rien ence ce with with and and know knowle ledg dge e of the the bran brand. d. Brand Brand imag image e is how how consumers perceive the brand.

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Brand Identity: This refers to a combination of visual, auditory, and other sensory components that create recognition, represent the brand promise, promise, provide provide different differentiatio iation, n, create create communica communications tions synergy, synergy, and are proprietary.

Brand Architecture (or Brand Structure): It is how an organization organizes the various named entities within its portfolio. In fact, brand/ sub – brands is the type of architecture most often used.

Trade Dress: This describes the aesthetic elements that provide legal protection for a brand’s identity.

Brand Portfolio: This is the mix of brands and sub – brands owned by an organization.

Corporate Brand: This is the brand bearing the company name. It is always the highest in a brand hierarchy.

Master Brand: This is the dominant, highest level brand in a brand hierarchy. Corporate Brands are master brands. Parent brand may or may not be master brands.

Parent Brand: This is the brand that is extended into more than one category. It may or may not be the same as the corporate brand.

Sub – Brand: This is a new brand that is combined with a parent or corporate brand in the brand identity system.

Endorsed Brand: This is the primary name the consumer is intended to use to refer to a product. It is a brand that is endorsed by the parent or corporate brand in the brand identity system.

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Brand Extension: This refers to the introduction of an existing brand into a new product category or market segment.

The Brand Management Process

Profound consumer  Insight

Through knowledge Of competitive set

Ongoing Market Research

Consumer benefits (By Segment)

• • • •

Functional Emotional Experimental Self Self Ex Ex ressiv ressivee

• •

Brand Design Target Customer  Essence Promise Personality Positioning

Brand identity Standards & Systems Organization Design Cust value chain Culture HR systems

Cost of Entry Differentiating

Organization’s core Competencies & Strategic intent

Integrated Marketing Product Packaging Pricing Distribution Point of Purchase Merchandising Advertising Promotion

Brand design manifested at each point of customer contact

Creating total brand Experience

• •

Brand Equity Monitoring

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• •

Delivering Awareness Accessibility Value Emotinal Connection

22

Marketing Effectiveness Monitoring

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• • • •

Resulting in Decreased price sensitivity Increased consumer loyalty Increased Market share Increased stock price & shareholder  value

Pantaloons Fresh Fashion

Celebrate the Fresh Look, Fresh Feel & Fresh Attitude at Pantaloons Fresh Fashion!

Fashion is all about the now. Why, then should people not see a fresh look every time they walk into a Pantaloons store? That is the thought behind 'Fresh Fashion'. An idea that has captured the imagination of  youn young g Indi India. a. With With a focu focus s on the the yout youth h of toda today, y, Pant Pantal aloo oons ns offe offers rs trendy and hip fashion that defines the hopes and aspirations of this demography.

Pantaloons Fresh Fashion stands out as a fashion trendsetter, on the lines of how fashion is followed internationally. The ‘look’ and ‘what’s in’ today for the season is sacrosanct.

Pantal Pantaloon oons s take take its promis promise e of 'fresh 'fresh fashio fashion' n' very very seriou seriously sly making making available to its customers the latest in fashion every week!

All Pantaloons stores reflect the new ideology -- Fresh Feeling, Fresh Atti At titu tude de,, Fres Fresh h Fashi Fashion on.. The The stor stores es offe offerr fres fresh h coll collec ecti tion ons s and and are are visually stimulating thanks to appealing interiors and attractive product display!

 The first Pantaloons was opened in Gariahat in 1997. Over the years, it has undergone several transitions. When it was first launched, this store

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mostly mostly sold sold exter external nal brands brands.. Gradu Graduall ally, y, it starte started d retail retailing ing a mix of  exte extern rnal al bran brands ds whil while e at the the same same time time intr introd oduc uced ed its its own own priv privat ate e brands. Initially positioned as a family store, it finally veered towards becoming a fashion store with an emphasis on 'youth' and clear focus on ‘fresh fashion’.

 Today, the fashion store extends to almost all the major cities across the country. Pantaloons have established its presence with stores not just in the metros, but also in smaller towns.

Pantal Pantaloon oons s store stores s have have a wide wide variet variety y of catego categori ries es like like casual casualwea wear, r, ethnicwear, formalwear, partywear and sportswear for Men, Women and Kids.

Brands at Pantaloons

 These are the few famous brands which are available at Pantaloons:

1. ADIDAS

10.

GANUCHI

2. AKKRI KRITI

11.

GINI N JONY

3. ALL

12.

GIOVANI

4. BARE

13.

HONEY

5. BIBA

14.

INDIAN TERRAIN

6. BLAC BLACK K PA PANTH NTHER ER

15.

INDIGO NATION

7. CONV CONVER ERSE SE

16.

JEALOUS

8. Dio Dio Rucci ucci

17.

JM SPORT

9. F

18.

JOCKEY

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19.

JOHN MILLER

51.

UMBRO

20.

LEE

52.

UMM

21.

LEE COOPER

53.

WILSON

22.

LEONE

23.

LILLIPUT

24.

LOMBARD

25.

MIX N MATCH

26.

MONTE CARLO

27.

MOUSTACHE

28.

NINO MANTELLI

29.

NO RULES

30.

PEPE

31.

PROVOGUE

32.

RAYMOND

33.

REEBOK  

34.

RIG

35.

SCOTSVILLE

36.

SCULLERS

37.

SHAPES

38.

SIERRASPORTS

39.

SPALDING

40.

SPEEDO

41.

SPRING BOARD

42.

SPYKAR

43.

STORI

44.

TANGERINE

45.

TOLLY JOY

46.

TOMMY HILFIGER

47.

TRIUMPH

48.

TUFF

49.

TURTLE

50.

UDARE

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Branding in Pantaloons

Future Group

Future Media

Big Bazaar

Future Retail

Future Brands

Future Logistics

Future Space

Future Capital

Pantaloons

Pantaloon the brand of Future Retail is managed from the corporate Head Office (HO) which is situated in Mumbai. The responsibility of  brand development and brand audit is also managed by the marketing team.

Brand Ambassadors: The decision of selecting the brand ambassadors is also also in the the hand hands s of the the Mark Market etin ing g Team Team.. Curr Curren entl tly y the the bran brand d ambassadors of Pantaloon are Bipasha Basu and Zayad Khan.

Nati Nation onal al camp campai aign gns s

and and

Sche Scheme mes: s: All All

the the

nati nation onal al camp campai aign gns, s,

schemes and tie ups are managed by the corporate marketing team.

Communication Communication Process between the HO and the Zonal Office.

HEAD OFFICE

South

North

Marketing Dept

West

East

All mails are CC to Area Manager  And Zonal Head

SM/ ASM CSD/ DM

Responsibility of Zonal Office:



Outdoor media planning and execution. Currently there are 24 permanent sites.



Projection of Brands in the stores and VM coordination



Designing of pamphlets and brochures



Custodian of Brands at local level



In - store Marketing



Events and activities management to enhance the brand image



Local tie ups and promotion



Customer loyalty program management

Brand research:

•

Brand Asset Research

•

Brand Association Measurement

•

Other Brand Extension Research

Other useful Research Approaches

•

•

Customer Service Testing  The Zaltman Metaphor Elicitation Technique

•

Brand Dimensioning

•

Resonance

•

Projective Techniques

New Logo Research

•

Logo imagery

•

Logo recognition

•

Logo recall

•

Logo preference

Brand equity measurement

can’t  It is necess necessary ary to Measur Measure e the perform performance ance of Brand. Brand. ‘You can’t  manage what you don’t measure.’  This is true of Brand Equity as well. Any strong brand equity measurement systems will accomplish the following objectives:

•

Measure Measure the brand’s equity across a variety variety of dimensions dimensions at different points in the over time.

•

Provide diagnostic information on the reasons for the changes in Brand Equity.

•

Gauge and evaluate the Brand’s progress against goals.

•

Provides direction on how to improve Brand Equity.

•

Provide insight into the Brand’s positioning compared with the majo majorr

comp compet etit itor ors, s,

incl includ udin ing g

its its

stre streng ngth ths, s,

weak weakne ness ss,,

opportunities and threats. •

Provide direction on how to reposition the brand for maximum effect.

Specific brand equity measures

 There are specific measures that help in managing a brand’s equity:

•

Brand awareness

•

Brand performance

•

Brand usage

•

Brand accessibility

•

Brand value

•

Brand relevant differentiation

•

Brand emotional connection

•

Brand loyalty

•

Brand vitality

•

Brand consideration set

•

Brand personality

Measuring Marketing ROI

 The total customer base (number of people) X (multiplied times) the average number of purchase transaction per person (per time period) X (multiplied times) the average unit sales per transaction X (multiplied times) the average sales price per unit X (multiplied times) the percent of those transactions received by the brand = (equals) the sales sa les (per time period)

Multibrand apparel outlets •

Average time before last visit to a multibrand apparel outlet = 34.735 days

•

Awareness stands at: •

100% for Shopperstop, Westside & Pantaloons

•

88.57% for Lifestyle

•

65.71% for Reliance Retail

More than half of the respondent like to shop at Shopper Stop, followed by westside.

Maxi Maximu mum m resp respon onde dent nt pref prefer er Pant Pantal aloo oons ns due due to its its Pric Price e Options and Variety

Resp Re spon onde dent nt were were near nearly ly equa equall lly y

divi divide ded d

thro throug ugh h

slig slight htly ly

favoring that Pantaloons focuses on Private label more

77% of respondent feels Pantaloon caters to Middle Income group

69% of respondent feels that Females shop more at Pantaloons

60% of respondent feels that people who shops at Pantaloon are Outdoor Oriented

31% of respon responden dentt feels feels that that people people shops shops at Panta Pantaloo loon n on special occasion

Majority of the respondents will not miss Pantaloon if it were to close down

Regression analysis keeping the overall satisfaction in mind Coefficientsa

Unstandardized Coefficients Model 1

B 3 .5 2 9

(Constant)

Standardized Coefficients

Std. Err o r   .0 8 8

Beta

t 40.3 32

Sig . .00 0

REGR factor score 1 for analysis 1

.238

.0 8 9

.422

2.6 74

.01 2

REGR factor score 2 for analysis 1

.128

.0 8 9

.227

1.4 37

.16 1

a. Dependent Variable: Overall_satisfaction Overall_satisfaction

Regression Equation Over Overal alll

sat satisf isfact action

=

(Perception of Loyalty)

3.52 3.529 9

+

0.238 .238 (Lo (Loyalt yalty) y) +

0.128 .128

Cluster Analysis