In this case study, we will be discussing and analyzing the marketing mix of Big Bazaar including its Product, Price, Place, and Promotion strategy.
About Big Bazaar
Big Bazaar was founded in 2001 by Kishore Biyani, under Future Group as the parent organization. Its headquarters are located in cities like Mumbai and Jogeshwari. The concept of the company was to meet all consumer needs in one place and this is the main motive of the brand to set up Food Bazaar, Fashion at Big Bazaar, and eZone, all in one place, acting as its parent chain.
Big Bazaar has experienced significant growth since its establishment and contributed immensely to India’s GDP (Gross Domestic Product). The organization is based on the fashion model of selling through retail chains and offering groceries and a wide range of general products to a population of youthful working-class and middle-class homemakers. It has contributed to the growth of investments and created a large number of job possibilities for Indians.
Now that we have the overview of the company, let’s dive into the details of the marketing mix which made all these possible.
Marketing Mix of Big Bazaar
Marketing Mix is usually defined as the actions and tools used by an organization to meet its marketing objectives. A marketing mix is a tool that mostly revolves around the 4Ps which consist of Product, Price, Place, and Promotion. By altering these tools according to business objectives, organizations influence customer behaviors for the best outcome possible.
As an organization with a great customer base, Big Bazaar has tailored its 4Ps marketing mix with its distinguished ideas. Let’s have a look at it in detail.
1. Product Strategy of Big Bazaar
With Big Bazaar’s aim to cater to the needs of the mass population of India, its product strategy involves making everyday essentials available to its customers. There is a wide range of products that can be found in all of Big Bazaar’s hypermarkets and grocery stores. The types of products offered in its retail stores include Apparel, Food, Farm Products such as dairy, vegetables, Childcare, and Personal care products as well as Electronics, Clothing, and Accessories.
Big Bazaar offers customers products from a variety of brands such as Coca-Cola, Levis, Samsung, etc. as well as some in-house brands like Tasty Treat, Clean Mate, Sensei, and other 35+ brands.
Big bazaar has a huge range of products that perfectly targets its audience. So, let’s explore Big Bazaar’s pricing strategy below.
2. Price Strategy of Big Bazaar
As a retail chain organization, Big Bazaar’s objective is to gain the maximum market share. This means gaining the highest percentage of total market sales. To align with this objective, Big Bazaar uses a mix of pricing strategies as follows:
- Competitive pricing strategy: This strategy means that Big Bazaar wants to provide customers with high value for their money in comparison to other retail chains. It uses an everyday low-value pricing strategy which means customers can always get affordable products without waiting for only year-end sale offers.
- Options of Financing: Customers can also buy products from Big Bazaar with options of financing at low-interest rates.
- Promotional pricing: This includes the special discounts and sale offers during festive seasons like Diwali as well as the offers on baskets of products during the Wednesday Bazaar; e.g: 5kg of Rice + 3 kg of sugar only at Rs.300.
Big Bazaar does maintain a reasonable and affordable price. Now let’s gander over the place & distribution strategy led by Big Bazaar.
3. Place and Distribution Strategy of Big Bazaar
Big Bazaar tends to have set up its stores and hypermarkets in areas with high populations and strong traffic movement to attract the most customers as possible. This makes it more accessible to people with increasing purchase power. Currently, it has 110+ stores across 34 cities and has a plan of expanding into other tier 2 cities.
It has 3 main formats of placing strategy:
- The Express format
Apart from this, Big Bazaar also has an online platform which makes it even easier for customers to choose from a wide array of products and get them delivered without hassle.
The company maintains a huge portfolio with affordable prices and a good spot for buying its merchandise. So now let’s see how Big Bazaar is promoting its products and services to its target market.
4. Promotion Strategy of Big Bazaar
Big Bazaar uses both below-the-line promotion and above-the-line promotion. Its line promotion includes great discount offers, availability of Future Cards with discounts on them as well as money-back guarantees and the benefits of exchange offers. It is also long known for its catchy phrases with memorable punchlines such as ‘Saal Ke Sabse Saste Char Din’ etc.
Big Bazaar’s above-the-line promotion includes advertising campaigns on television and radio. It has also used the technique of brand endorsements by many popular celebrities like M.S Dhoni to increase publicity. In addition to these, Big Bazaar advertisements can be seen in national newspapers, magazines, and online promotion platforms.
As mentioned earlier, Big Bazaar does grab its customers with a wide range of products at a reasonable price and accessible stores by advertising to an extreme extent. So let’s end the case study with the conclusion below.
These are the 4Ps of Marketing Mix widely used by Big Bazaar. Apart from these, Big Bazaar has made use of other tactics to improve its marketing presence such as well-informed and trained staff in their stores to assist customers in every possible way. The use of modern technology such as well-equipped counters etc to make shopping more convenient.
Therefore, it can be said that Big Bazaar is running a well-thought marketing mix that takes into account its target audience and marketing objectives. Also, it has kept up with changing marketing trends and tastes.
Hopefully, you have gained an interesting insight into the marketing mix of Big Bazaar. If you liked this blog, please share it and check out our other blogs. Try IIDE’S Digital Marketing Masterclass for free by Karan Shah, CEO & Founder of IIDE.