field study on westside

Field Study Prepared By- Anuradha Thorat Shalini Rishi Jha Vinay Gupta Natansh Dubey

under the guidance of Prof.Shailesh Pandey

Basics of MarketingConsumer BehaviourFeaturesSTP4 P’s

ProductPricePlacePromotion

“To be the most preferred and consistently profitable lifestyle retailer.”

Started by Mrs. Simone Tata after acquiring Littlewoods.

Today, it has reached 28 cities with more than 59 stores.

Currently headed by Noel Tata.Designed to cater to shopping needs of

various customers.

The store sizes range between 20000-30000 sq. feet.

Annual Sales for 2012 was Rs. 612 cr. With net profit of Rs. 56 cr.Located in the heart of Pune.

This is an era for organised retailingThe scope is still hugeOpen economy industry makes it easy for big

retailers to enter this industry making the competition tough

Westside does not have a very unique policy of its own but it does benefit from the brand goodwill of its parent company

Designed to be one-stop shop for complete family.

Offers broad product variety.

There is huge price band.

1. Segmentation and Targeting Demographic

Family Economic

Upper middle and lower upper class Psychographic Lifestyle types. Behavioural Occupation Geographic Nation,state,region,city

Women Ehtnic Wear Western wear Cosmetics Mens Wear FurnishingAccessories Kids Wear

Positioned as value for money products-good quality,low prices,contemporary and exclusive designs and wide variety.

Good store ambience-shelves are not overloaded

Focus on “I GOT A QUALITY PRODUCT AT A REASONABLE PRICE “ feelings

The name itself gives an upbeat feel.

The stores are designed to convey this message.

ProductPricePlacePromotion

Has about 7-8 product category.

Displays majorly in-house brand.

Has tie-ups with other brands.

L.O.V.ZubaNuonSassy SodaGiaAscottWestsportWestraveller

• Men’s Wear and Accessories.(35%)• Women’s Wear and accessories.(65%)• Kid’s Wear.• Crockery and Kitchen.• Daily Necessities.• Branded Jewellery• Gift items.• Footwear.• Interior decoration.

Based on Product strategy, it is unable to separate itself from its competitors.

There seems to be a lack of Brand identity.

Westside is a victim of Red ocean marketing strategy when it comes to diversifying its products.

It has been unable to carve out a separate niche for itself in the retail industry.

Consumer Behaviour is how individuals make decisions to spend their available resources (time,money,effort) on consumption related items.

Interacting with customers,we found out that,the customers were: Consistent

Price conscious Loyal Demand for products are more or less

constant throughout the year for majority of products.

Pricing decisions consistent with firm’s marketing strategy and target market.

They believe in delivering customer ended service and charging fair price.

Offers Value for Money proposition for consumers, especially by offering their own brands.

Helps to augment their sales margin.

Sales persons revealed that prices tend to fluctuate during festive seasons keeping consumer behaviour and demandin mind

The pricing strategy is set such as to attract customers of all segments

All products and prices areregistered

Types of Pricing:• Promotional discounts• Seasonal Pricing• Image Pricing.• Product form Pricing• Psychological Pricing• Product bundling Pricing• Value Pricing.

The store functions all seven days a week.The store is located very near its competitor.Products are distributed from Mumbai

headquarter.Stock replenishment done mainly on Fridays.

Product availability mainly depends on the demand of the product.

Some products have consistent demand whereas some fluctuate in demand according to season trends and festivals.

Ground floor exclusively for women approx 70% area for women apparel and accessories, women form the biggest and most loyal customer base for them.

• Promote in-house brand, with some space for some international labels.• Tie-up with some renowned designers.• Club west card membership to retain the customers.•Comparing inhouse brands with external brands to promote inhouse brands eg chromozome with westsport.

Customer base changed over time.Not much shelf-space is given to the

International brands.Customer preferences are changing from in-

house labels to international brands.Lesser media promotions.

PantaloonsRuchi’s Big lifeMaxxShoppers StopGlobusBig BazaarVishal Mega MartMarks and SpencersLifestyle

Aiming to increase their customer base by adding the international brands in their product basket.

Focussing more on inhouse brands and displaying the products such as to make it look comparatively better in quality.

Westside should spend on media promotion.

Hire appropriate Brand Ambassador, depending on the type of customer they target.

Should try to increase their theme based shops.

Positioning needs to be done more efficiently.

Thank You