Trent (Westside)

By-Prateek Jain, 2010163Rohan Mehra, 2010184Rohit Deshmukh, 2010185Sankarshan Joshi, 2010202Sayantan Banerjee, 2010204

Agenda-

• Introduction• Features• STP• 4 P’s– Product– Price– Place– Promotion

Mission Statement-

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

A word on Westside• Started by Mrs. Simone Tata after acquiring

Littlewoods.• Today, it has reached 28 cities with 49 stores.• Currently headed by Noel Tata.• Designed to cater to shopping needs of

various customers.

Contd…

• The store sizes range between 15000-30000 sq. feet.

• Annual Sales for 2010 was Rs. 543 cr.

• With net profit of Rs. 40 cr.

Features

• Designed to be one-stop shop for complete family.

• Offers broad product variety.

• There is huge price band.

STP of Westside

1. Segmentation and Targeting– Demographic• Family

– Economic• Upper middle and lower upper class

– Psychographic• Lifestyle types.

STP of Westside

2. Positioning

– Initially started off with “Fashion at affordable price”

Westside as a “Brand”• The name itself gives an upbeat feel.

• The stores are designed to convey this message.

4 P’s

Product Strategy

• Has about 7-8 product category.

• Displays majorly in-house brand.

• Has tie-ups with other brands.

Product Range-

• Men’s Wear and Accessories.• Women’s Wear and accessories.• Kid’s Wear.• Crockery and Kitchen.• Daily Necessities.• Branded Jewellery• Gift items.• Furniture.• Footwear.• Interior decoration.

Beyond Products

• Employees are trained on various aspects like:– Product Knowledge.– Workplace Ethics.– Communication Skills– Courteousness.

Comment on Product Strategy

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

• There seems to be a lack of consistency.

Price Strategy

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

• They believe in democratizing their service and charging fair price.

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

• Helps to augment their sales margin.

Contd…• In recent past, a lot of price variations in

company’s products were made.

• It aimed to target all customer groups.

Pricing Contd..

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

Market Survey on Pricing

Place strategy• Chain of stores mainly functioning in malls.• Stores mostly located very near its

competitor.• Products distributed from Mumbai

headquarter.• Stock replenishment done mainly on Fridays.

Place strategy Contd…

• Product availability mainly depends on the city of operations.

• Opening of exclusive store to women, keeping in mind that, women form the biggest and most loyal customer base for them.

Promotion Strategy

Strategies-• Promote in-house brand, with some space for some international labels.• Tie-up with some renowned designers.• In 2002, Yuvraj Singh was chosen as Brand Ambassador.• Club west card membership to retain the customers.•Theme based stores. Like one in Shalimar Bagh(Westside Woman).

Problems faced by Westside-

• Target 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.

Competitors

• Pantaloons• Ruchi’s Big life• Maxx• Shoppers Stop• Globus• Big Bazaar

Strategies adopted by Westside-

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

Strategies adopted by Westside-

• Planning to introduce canned continental food like sushi, wine and cheese on their counters.

What should they do?

• 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.

HAPPY SHOPPING!