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Project Report
Submitted by:Rahul Dutt Avasthy – 8Ankit Jain - 23Rajat Lauria – 33Sidharth Malik – 36Gaurav Saxena - 49
Pantaloons: Brand Management SIMSR
22
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 and to use departmental data. Most important we thank Mrs
Bhagyalaxmi for mentoring us throughout.
We are deeply indebted to my supervisor Mr. Nirmalya Ghosh (Assistant Manager,
Marketing) and Ms Ishita Sengupta (senior executive, Marketing) whose help, stimulating
suggestions and encouragement helped us in all the time of research for and writing of
this project.
Pantaloons: Brand Management SIMSR
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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 the HO and the Zonal Office
Brand Research Process in Pantaloon
Brand Audit
Pantaloons: Brand Management SIMSR
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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
grocery stores and drug stores which could be categorized as unorganized
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
trading, stood at approx. US$ 25.18 million, according to the Department of
Industrial Policy and Promotion (DIPP).
As a democratic country with high growth rates, consumer spending has risen
sharply as the youth population (more than 33 percent of the country is below the
age of 15) has seen a significant increase in its disposable income. Consumer
spending rose an impressive 75 per cent in the past four years alone. Organised
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
Pantaloons: Brand Management SIMSR
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feet (1,100,000 m2) of retail space, has over 1,000 stores across 71 cities in India
and employs over 30,000 people. Pantaloon Retail was awarded the International
Retailer of the Year 2007 by the US-based National Retail Federation (NRF) and
the Emerging Market Retailer of the Year 2007 at the World Retail Congress held
in Barcelona. Pantaloon Retail is the flagship company of Future Group, 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 society and is able to capture almost the entire
consumption 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 retail
chain, Pantaloons in Kolkata. In 2001, it launched Big Bazaar, a hypermarket chain that
combines the look and feel of Indian bazaars, with aspects of modern retail, like choice,
convenience and hygiene. This was followed by Food Bazaar, food and 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, music, gifts and stationary), aLL (fashion apparel for
plus-size individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories). It has
recently launched its etailing venture, futurebazaar.com.
Pantaloons: Brand Management SIMSR
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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 partners including French retailer Etam group, Lee
Cooper, Manipal 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 businesses), Future Capital (financial
products and services), Future Brands (management of all brands owned or managed by
group companies), Future Space (management of retail real estate), Future Logistics
(management of supply chain and distribution) and Future Media (development and
management of retail media).
Future Capital Holdings, the group's financial arm, focuses on asset management and
consumer finance. It manages two real estate investment funds (Horizon and Kshitij) and
consumer-related private equity fund, Indivision. It also plans to get into insurance,
consumer 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.
Future Group Manifesto
Pantaloons: Brand Management SIMSR
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“Future” – the word which signifies optimism, growth, achievement, strength, beauty,
rewards and perfection. Future encourages us to explore areas yet unexplored, write rules
yet unwritten; 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 create future
scenarios in the consumer space and facilitate consumption because consumption is
development. Thereby, we will effect socio-economic development for our customers,
employees, 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 understanding of the
Indian consumer to their needs of tomorrow.
Rewrite Rules. Retain Values.
Group Vision
Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer
in the most profitable manner.
Pantaloons: Brand Management SIMSR
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Group Mission
1. We share the vision and belief that our customers and stakeholders shall be served
only by creating and executing future scenarios in the consumption space leading
to economic development.
2. We will be the trendsetters in evolving delivery formats, creating retail realty,
making consumption affordable for all customer segments – for classes and for
masses.
3. We shall infuse Indian brands with confidence and renewed ambition.
4. We shall be efficient, cost- conscious and committed to quality in whatever we do.
5. We shall ensure that our positive attitude, sincerity, humility and united
determination shall be the driving force to make us successful.
Core Values
Indianness: confidence in ourselves.
Leadership: to be a leader, both in thought and business.
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.
Valuing and Nurturing Relationships: to build long term relationships.
Simplicity & Positivity: Simplicity and positivity in our thought, business and action.
Adaptability: to be flexible and adaptable, to meet challenges.
Flow: to respect and understand the universal laws of nature.
Introduction
Pantaloons: Brand Management SIMSR
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The brand is increasingly becoming the key source of differentiation that guides customer
purchase choice. It is the focal point around which an organization defines how it will
uniquely deliver the value to the customer for a profit-effectively embodying the “Heart
and Soul” of the organization. The brand’s promise is delivered through its products,
services, and consumer communication- the total relationship 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. But these days, all kinds of
organizations are recognizing the importance of branding.
Branding also becomes a critical issue for business that spun off from parent company and
as more and more companies merge or acquire one another. The brand identity of the
new combined enterprise 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. In the end, you want to deliver good quality and good value,
innovation, relevant differentiation, Convenience and accessibility with your Brand.
However, we must never forget that ‘building brand equity is like building a close
friendship’. It requires a consistent relationship over time, Trust, and an emotional
connection.
UNDERSTANDING THE LANGUAGE OF BRANDING
Pantaloons: Brand Management SIMSR
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It is important to establish a common brand management vocabulary in you organization.
Establishing this common vocabulary will ensure that people can communicate with fewer
misunderstanding. There are different terms used to describe positioning the brand.
Terms ranged from ‘essence’ and ‘promise’ to ‘position’ and ‘unique value proposition.
Brand: The American Marketing Association describes a brand 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’.
Brand 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’s essence is the one constant across
product categories and throughout the world.
Brand Promise: A brand promise is often stated as: Only [brand name] delivers [benefit] in
[product or service category]. Sometimes, 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: 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 as fun, kind,
sexy, safe, sincere, sophisticated, cheerful, old fashioned, reliable, progressive). How
consumers perceive a brand’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: This refers to anything a consumer associates with the brand in
his/her mind.
Pantaloons: Brand Management SIMSR
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Brand Equity: This is the commercial value of all associations 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 Image: This is the totality of perceptions resulting from all experience with and
knowledge of the brand. Brand image is how consumers perceive the brand.
Brand Identity: This refers to a combination of visual, auditory, and other sensory
components that create recognition, represent the brand promise, provide differentiation,
create communications 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.
Pantaloons: Brand Management SIMSR
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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.
Brand Extension: This refers to the introduction of an existing brand into a new product
category or market segment.
The Brand Management Process
Pantaloons: Brand Management SIMSR
Profound consumerInsight
Through knowledgeOf competitive set
Consumer benefits(By Segment)
Functional Emotional Experimental Self Expressive
Cost of Entry Differentiating
OngoingMarket
Research
22
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 young India. With a focus on the youth of today,
Pantaloons: Brand Management SIMSR
Brand DesignTarget CustomerEssencePromisePersonalityPositioning
Organization’s core Competencies &Strategic intent
Brand identityStandards &
SystemsIntegrated Marketing
Product PackagingPricingDistributionPoint of PurchaseMerchandisingAdvertisingPromotion
Organization DesignCust value chainCultureHR systems
Brand design manifested at each point of customer contact
MarketingEffectivenessMonitoring
Creating total brand Experience
Delivering Awareness Accessibility Value Emotinal Connection
Resulting in Decreased price sensitivity Increased consumer loyalty Increased Market share Increased stock price & shareholder
value
Brand EquityMonitoring
22
Pantaloons offers 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.
Pantaloons take its promise of 'fresh fashion' very seriously making available to its
customers the latest in fashion every week!
All Pantaloons stores reflect the new ideology -- Fresh Feeling, Fresh Attitude, Fresh
Fashion. The stores offer fresh collections and 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 mostly sold external brands.
Gradually, it started retailing a mix of external brands while at the same time introduced
its own private 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.
Pantaloons stores have a wide variety of categories like casualwear, ethnicwear,
formalwear, partywear and sportswear for Men, Women and Kids.
Pantaloons: Brand Management SIMSR
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Brands at Pantaloons
These are the few famous brands which are available at Pantaloons:
1. ADIDAS
2. AKKRITI
3. ALL
4. BARE
5. BIBA
6. BLACK PANTHER
7. CONVERSE
8. Dio Rucci
9. F
10. GANUCHI
11. GINI N JONY
12. GIOVANI
13. HONEY
14. INDIAN TERRAIN
15. INDIGO NATION
16. JEALOUS
17. JM SPORT
18. JOCKEY
19. JOHN MILLER
20. LEE
21. LEE COOPER
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
51. UMBRO
52. UMM
53. WILSON
Pantaloons: Brand Management SIMSR
Branding in Pantaloons
Future Group
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 in the
hands of the Marketing Team. Currently the brand ambassadors of Pantaloon are
Bipasha Basu and Zayad Khan.
National campaigns and Schemes: All the national campaigns, schemes and tie ups are
managed by the corporate marketing team.
FutureMedia
FutureRetail
Future Brands
FutureCapital
FutureLogistics
FutureSpace
Big Bazaar Pantaloons
Communication Process between the HO and the Zonal Office.
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
HEADOFFICE
South North EastWest
MarketingDept
SM/ ASMCSD/ DM
All mails are CC to
Area Manager
And Zonal Head
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
It is necessary to Measure the performance of 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 the brand’s equity across a variety of 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 major
competitors, including its strengths, weakness, 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 (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.
Maximum respondent prefer Pantaloons due to its Price Options and Variety
Respondent were nearly equally divided through slightly 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 respondent feels that people shops at Pantaloon 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
3.529 .088 40.332 .000
.238 .089 .422 2.674 .012
.128 .089 .227 1.437 .161
(Constant)
REGR factor score1 for analysis 1
REGR factor score2 for analysis 1
Model1
B Std. Error
UnstandardizedCoefficients
Beta
StandardizedCoefficients
t Sig.
Dependent Variable: Overall_satisfactiona.
Regression Equation
Overall satisfaction = 3.529 + 0.238 (Loyalty) + 0.128 (Perception of Loyalty)
Cluster Analysis
Recommended