Nikhil Sharma-0547-Creating & Sustaining Value Through Brand

8/3/2019 Nikhil Sharma-0547-Creating & Sustaining Value Through Brand

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MP Birla Institute of Management

"CREATING AND SUSTAINING VALUE THROUGH BRANDING FOR

MALLS

A DISSERTION SUBMITTED IN PARTIAL FULFILLMENT OF THE

REQUIREMENT FOR THE AWARD OF MBA DEGREE OF

BANGALORE UNIVERSITY

BY

Nikhil Sharma

(Reg no: 05XQCM6053)

Under the guidance and supervision

Of

Prof. Shinu Abhi

Professor

M P Birla Institute of Management

Bangalore

M P BIRLA INSTITUTE OF MANAGEMENT

(Associate Bharatiya Vidya Bhavan)

BANGALORE

MAY 2007


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DECLARATION

I hereby declare that this dissertation entitled Creating and Sustaining value

through Branding for Malls is the result of my own research work carried

out under the guidance and supervision of Prof. Shinu Abhi, MPBIM

Bangalore.

I also declare that this dissertation has not been submitted earlier to any

Institute/Organization for the award of any degree or diploma.

Place: Bangalore

Date: - (Nikhil Sharma)


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PRINCIPAL CERTIFICATE

I hereby certify that this dissertation entitled Creating and Sustaining value

through Branding for Mallshas been prepared by Nikhil Sharma under the

guidance and supervision ofProf. Shinu Abhi, Professor, M.P.Birla Institute of

Management, Bangalore.

Place: BangaloreDate: (Dr. Nagesh S Malavalli)

Principal


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GUIDES CERTIFICATE

I hereby certify that this dissertation entitled Creating and Sustaining value

through Branding for Malls is the result of research work carried out by

Nikhil Sharma under my guidance and supervision.

Place: BangaloreDate: (PROF. SHINU ABHI)

Guide


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ACKNOWLEDGEMENT

I am extremely thankful to all those who have shared their views, opinions,

ideas and experiences with me in carrying out this research work. I am

particularly indebted to Prof. Shinu Abhi, Professor, M P Birla Institute of

Management, Bangalore for his guidance.

I extend grateful thanks to Dr. Nagesh.S.Malavalli, Principal, M P Birla

Institute of Management, Bangalore for having provided me with the necessary

academic support.

(Nikhil Sharma)


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List of Tables

Table

no. Title

Page

no.1 Malls that comes to mind of people 24

2 Reason of awareness about malls 25

3

Frequency of visits to mall in past one

month 26

4 Reason why people visit the malls 27

5 Duration of stay in malls 28

6 Ranking of aspects of Malls 29

7

Main reason which arouse interest in

malls 31

8

Various categories in malls that interest

customers 32

9 Quality of services in malls 33

10 Parking Facilities at Mall 34

11 Cost of parking facilities in malls 35

12 Overall quality of life in malls 36

13

Customers opinion about the location of

malls 37


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LIST OF GRAPHS

Graphno. Title Pageno.

1 Malls that comes to mind of people 24

2 Reason of awareness about malls 25

3

Frequency of visits to mall in past one

month 26

4 Reason why people visit the malls 27

5 Duration of stay in malls 28

6 Ranking of aspects of Malls 30

7

Main reason which arouse interest in

malls 31

8

Various categories in malls that

interest customers 32

9 Quality of services in malls 33

10 Parking Facilities at Mall 34

11 Cost of parking facilities in malls 35

12 Overall quality of life in malls 36

13

Customers opinion about the location

of malls 37


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RESEARCH EXTRACT

Retail is India's largest industry, accounting for over 10 per cent of the country's GDP

and around eight per cent of the employment. Retail industry in India is at the crossroads. It

has emerged as one of the most dynamic and fast paced industries with several players

entering the market. But because of the heavy initial investments required, break even is

difficult to achieve and many of these players have not tasted success so far. However, the

future is promising; the market is growing, government policies are becoming more

favorable and emerging technologies are facilitating operations.

Background of the study:

The study was conducted to know the preferences of customers who visit the malls. A

survey was conducted to get the information from the customers who visited the mall. After

the collection of data it was tabulated and arrived to some conclusions.

Statement of Problems:

The statement of the problem is Creating and Sustaining Value through Branding for

MALLS.

Need and importance of the study:

This project work is undertaken as a part of academic requirements for degree of

Master of Business Administration. It is titled as Creating and Sustaining Value through

Branding for Malls

This research, analyzes some factors and features of the various Malls located in

Bangalore City.


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Objectives of the study:

1. Top of the mind Mall in Bangalore.

2. To know the ratings given by the customers for various aspects of Malls in

Bangalore.

3. To know the reasons for which the customers visit Malls in Bangalore.

4. To know the customer service levels in Malls.

5. To know the main purpose of visit to the Malls.

Research Design and Methodology:

Type of Research: Descriptive Research

Type of Data:

1. Primary Data: Primary data regarding the information about the malls werecollected with the help of Questionnaire through direct contact with

Customers.

2. Secondary Data: Secondary data are those which already exist and are usedfor the purpose of the study.

Data collection: Questionnaire Method.

Methodology: A structured questionnaire for the purpose of collecting necessarydata has been used. A non probability, simple random consisted of 120

respondents in various Malls

Type of Questionnaire: Structured Questionnaire.

Survey Method: Personal Survey.

Type of Survey: Sample Survey.

Sampling: Non Probability and Convenience Method.

Sampling Unit: Customers at Malls.

Sample Size: 120

Geographical Area: Famous Malls in Bangalore.


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The real story of India's retail boom

Modern retail has entered India as seen in sprawling shopping centers, multi-storied

malls and huge complexes offer shopping, entertainment and food all under one roof. The

Indian retailing sector is at an inflexion point where the growth of organized retailing and

growth in the consumption by the Indian population is going to take a higher growth

trajectory.

The Indian population is witnessing a significant change in its demographics. A large young

working population with median age of 24 years, nuclear families in urban areas, along with

increasing working-women population and emerging opportunities in the services sector are

going to be the key growth drivers of the organized retail sector in India.

The most important thing that a family entertainment centre offers the promoter is

traffic generation. While the benefits of mixing entertainment with retail are easy to see,

shopping centre owners and managers as well as entertainment operators realise that, more

often than not, there are obstacles to overcome. One of the disadvantages of putting an

entertainment centre inside a mall involves the hours of operation. A mall's operating hours

are generally not the same as those of the entertainment centre.

A value-packed shopping experience includes the sense of anticipation felt as the

customer thinks of visiting the entertainment-enriched retail centre. It also includes the

customer's heightened experience as he moves happily around a shopping world laced with

visual, auditory, and other sensory and emotional delights. Finally, the customer remembers

the shopping experience and expands that memory into anticipation of the next visit.

Exploitation of entertainment promises to redefine how the consumer perceives value.

As a result, retailing is going through a massive format change which promises to alter the

shopping experience, perhaps permanently.

Most analysts agree that retailers would have put in place global operational metrics.

One way to measure efficient operations is the inventory turns ratio. A comparison of

the US and India is revealing. Where, in the US, the retail sector has an average inventory


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turns ratio of about 18 (some retailers like 7-Eleven score over 50), most Indian retailers

range between four and 10, says KPMG.

The other key metric -- stock availability -- is telling too: Where global retailers

achieve more than 95% availability of all stock-keeping units on the retail shelves, their

Indian counterparts cut a rather poor figure at 5-15%.

There are other areas that retailers would have to master -- such as reaping economies

in procurement and transportation, bulk storage, trend forecasting to minimise inventory

levels -- before they can truly claim to have arrived.

Early entrants such as Shopper's Stop and RPG Group are acutely aware of this truth:

both took years to bring their supply-chain models to the present efficiency levels. Even a

player like the Dubai-based Landmark Group -- which has been operating in India for eight

years now -- insists it still needs to bring their ERP solution system up to speed.

Others may face new, unexpected problems. Scalability is what the likes of Kabir

Lumba, Executive Director, Lifestyle International, are banking on for growth. The group,

which currently runs 12 stores, plans to open 45 more stores at a cost of Rs 450 crore (Rs

4.50 billion) over three years. Lifestyle's stores attract 40,000 customers every day, and are

projected to close fiscal 2006-07 with a sales turnover of Rs 500 crore.

Again, when it comes to technology adoption and usage, there's a yawning gap

between the Indian retailers and those in the West.

According to a recent survey conducted among the country's top retailers by KPMG,

while retailers like Wal-Mart and Metro have started using RFID technology (offering high

inventory visibility), retailers in India are still to take to bar coding. As systems grow in size

and complexity, retailers would have set aside increasing amounts as IT spend.

The challenge posed by the global retailers is clearly formidable. But local retailers'

more intimate understanding of their customer base will help them survive.


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Besides, even the world's largest retailers have slipped when it comes to the emerging

markets -- Wal-Mart was forced to rework its model in Mexico and a similar thing happened

to Carrefour in China, where it had to revise its strategy. Also, Wal-Mart's track record in

markets such as South Korea and Germany has been nothing to write home about.

The other big issue for retailers is people. Analysts agree that the manpower shortage

will get acute as retail spreads beyond the metros. Says Sanjiv Goenka, Chairman, RPG

Group: "The biggest challenge for us and, for that matter, any retailer will be getting trained

personnel."

India's vast middle class and its almost untapped retail industry are key attractions for

global retail giants wanting to enter newer markets. Driven by changing lifestyles, strong

income growth and favorable demographic patterns, Indian retail is expected to grow 25 percent annually.

Retailing in India is gradually inching its way toward becoming the next boom

industry. The whole concept of shopping has altered in terms of format and consumer buying

behavior, ushering in a revolution in shopping in India.

The Indian population is witnessing a significant change in its demographics. A large

young working population with median age of 24 years, nuclear families in urban areas,along with increasing working-women population and emerging opportunities in the services

sector are going to be the key growth drivers of the organized retail sector in India.

It is true that the rise of retail organizations would yield many positive results for

India, such as, creating more jobs, bringing numerous goods to the consumers at a reasonable

price and so on.

Modern retail in India could be worth US$ 175-200 billion by 2016. With the

economy booming, competition in the marketplace is fierce. According to 'Retail in India

Getting Organized to Drive Growth', a report by AT Kearney and the Confederation of

Indian Industry, retail is one of India's fastest growing industries with a 5 per cent

compounded annual growth rate and expected revenues of US$ 320 billion in 2007. Rising


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incomes, increasing consumerism in urban areas and an upswing in rural consumption will

fuel this growth to around 7-8 per cent.

KSA-Technopak, a retail consulting and research agency, predicts that by 2010,

organized retailing in India will cross the US$ 21.5-billion mark from the current size of US$

7.5 billion.

Retailers in India are the most aggressive in Asia in expanding their businesses, thus

creating a huge demand for real estate. Their preferred means of expansion is to increase the

number of their outlets in a city, and also expand to other regions.

Deutsche Bank's research report on 'Building up India' says India's burgeoning middle

class will drive up nominal retail sales through 2010 by 10 per cent per annum. The country

may have 600 new shopping canters by 2010.


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A winning combo

The most frequently encountered version of the pure entertainment centre consists

of a multi-screen cinema; two or three high-atmosphere, brand name restaurants; perhaps a

nightclub or two; and an eclectic mix of tenants. Tenants are of local, regional and/or

national repute and offer unique goods and services, or they present ordinary goods in a

unique manner which attracts the customers.

Retail Formats:

There are different kinds of retail formats which are practiced by various firms

depending upon their particularity

Cash and Carry: This retail format focuses on small-wholesale customers who pay

in cash. Here arise additional functional requirements for the automation system:

prompt processing directly at the points of purchase; and two or more price-lists for

retail and small-wholesale customers.

Hypermarket: Among the specific features of a hypermarket is the wide range of

goods, attention to service and to the display of the goods on the shelves, as well as

the complicated systems of gaining loyal customers. Allows a hypermarket to workeffectively with a huge variety of goods, even in the case of decentralised pricing.

Discounter: The main competitive advantage of a discounter is low prices, which is

possible due to the considerable supply volumes. To be able to sell such volumes of

goods one needs large number of shops, prompt data exchange between them and the

head office, as well as an effective operation of the distribution centre.

Clothing Chain: Clothing chains have a number of specific features; support of

various configurations of goods (size, colour, collection), organisation of complex

marketing campaigns and customers loyalty systems. This allows for prompt

adjustment, procurement and pricing policy, as well as personifies the relations with

each customer.


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Mall culture in India:

For the Indian mass affluent, the call of the mall is proving irresistible. Malls

increasingly dot the urban Indian landscape and their packed parking lots, busy food courts

and restaurants, crowded anchor stores and noisy gaming arcades bear testimony to this

alluring call.

Some would call it consumerism in action, but it is assumed as celebration of mass

affluence.

The secret of the lure of the mall lies in its mass appeal - it has something on offer for

everyone in the family. There is a wide range of shopping experiences - bargains and

discounts or high-end brands for couples, gaming and other amusement facilities for kids, a

large choice of cuisines for family meals, and, of course, the multiplex theatres.

In many ways, malls reflect the state of our society and act as agents of change.

Rising incomes and busier lifestyles are creating the space for malls in the lives of the urban

mass affluent.

Leisure time is limited and a visit to the mall can do a lot for a busy family - domestic chores

like grocery shopping are taken care of and food courts and restaurants save the bother of

cooking dinner after hectic shopping apart from keeping children entertained.

Combine this with the consumer's rising purchasing power and his increasing focus

on value proposition rather than just price, and malls suddenly start becoming more relevant.

As Indians keep discovering malls, the retailers will also discover what they want and

evolve the malls. "In the near future, there will be a clear-cut categorization of malls. There

will be premium, luxury and value malls and existing formats will change radically according

to size and category."

The mall culture is growing deeper because of rising income level, changing age

profile, low interest rates, changing consumption pattern and attitudinal shifts. Average


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household income even in urban areas has grown at 5% per annum compounded annually

over the last decade. In nominal term, if inflation is included, the growth rate is 10% per

annum.

At the same time, numbers of young spenders are also increasing which likely to

reach to 312 million from the current level of 260 million. Availability of cheap loan has

fuelled the consumption expenditure in the country. It has changed the consumption pattern.

The share of expenditure on discretionary items will rise which would encourage

consumerism in the country.

Mall will further fuel the discretionary spending as it would expose the customers to

new items. Mall would provide suitable environment, particularly to the age group between

15 to 45, for shopping. Therefore, the expectation is that not only the foot-fall but the

business would also increase substantially in mall in coming years.


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Basics of Retailing

What is Retailing?

Retailing does not contain a single definition because of its customer orientation and

sensitivity to environmental pressures. The definition advanced 1950s suggested that

retailing is selling goods in small quantities to households. A great deal of progress has

taken since then and with the dynamics of the environment, philosophic and institutional

parameters, retailing is defined from three points of view

The discipline of retailing: As a social science discipline, retailing is the study of the

interaction of consumers and their social institutions as they conduct transactions (that is

exchange of goods, services, ideas) in the market place (broadly defined).

The science of retailing: Retailing as a science is the attempt to organize our knowledge

about retailing through observation, study and experimentation and to use this information in

broadening our base of knowledge.

The managerial point of view: Retailing is an attempt to manage transactions at the point of

ultimate consumption for the benefit of the organization and society

Classification of Retailing

Retailing is extremely diverse. Although all retail stores share the common focus of

selling to ultimate customers, retail stores have different formats, sizes, policies and

marketing strategies. This has led to various classification schemes to categorize retail stores.

They are:


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Classification of Retailing

1. Service versusproduct retailing

2. By type of

Merchandise

Automotive dealers Motor vehicle dealers

Miscellaneous automotivesupplyAutomotive DealersdealersAuto and home supplystores

Furniture, home furnishing andequipment dealers

furniture, home furnishingand Householdappliances, radios and TV

equipment dealers storesOther stores

Building materials hardwaregarden supplies and mobile homedealers

Building material storesHardware StoresOther stores

Apparel and accessories stores Mens and boys clothingand furnishingsWomens clothingSpecialty stores Furriers

Shoe storesOther apparel andaccessories store

Food stores Grocery stores Other foodstores

Gasoline service stations

General merchandise stores Department storesVariety storesOther general merchandisestores

Liquor stores

3. By Method of Regular store


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Mail order By catalog sellingBy advertising in regularmediaBy membership club plans

House hold contact By house to housecanvassingBy regular delivery routeserviceBy party plan selling

consumer contact

Vending machine

Urban Central business districtSecondary business districtString street locationNeighborhood location

Controlled (planned)shopping centerPublic market stalls

Small city Downtown neighborhood

4. By type of location

Rural stores

5. by type of servicerendered

Full serviceLimited service (cash and carry)self-Service

6. By legal form oforganization

proprietorshippartnership

Corporationspecial types

7. By managementorg or operationaltechnique

UndifferentiatedDepartmentalized

8. By margin andturnover

Single unit independent store

Multi unit retail organization

9. By type ofownership

Manufacturer owned retail outletsconsumer Co operativesFarmer owned establishmentCompany owned storesGovernment operated storesPublic utility Co stores

10. By size of Est. By number of employees


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By annual sales volume

11.By degree ofintegration

Nonintegratedintegrated with wholesalingfunction

Integrated with manufacturing

Six Global Formats of Retailing

The major formats of retailing currently being employed are

Formats Characteristic Example

Supermarket 30%of the grocery market. 4000-20000square feet in size, strong focus on foodand personal care

Tesco, Safeway

Hypermarket 40000 square feet plus, out of the townstore that stocks grocery (typically 50% ofsales and space), apparel, electronics andconsumables

Super centers - Wal-Mart

Warehouse Club Targets large institutional buyers and

household looking to buy large quantities.captures 10%of the grocery market

Sams Club

Discounters Stripped supermarkets, offering a basicrange of grocery products at greatdiscounts

Conveniencestores

400-2000 square feet, self service format,account for the 10%of the grocery market

Moms and Pops This traditional format, next-door stores


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Influence of 6 Ps of Retail Marketing on Retail Marketing

Strategy in the Indian context

Price

For the Indian consumer price is the most important issue which the retailers need toaddress critically. It has been observed that the effects of price chances are more immediate

and direct and the appeals based on price are the easiest to communicate to prospective

buyers. However competitors can easily react to appeals based on price than those based on

product benefits and imagery. Nevertheless price is considered to be the most significant

among the decisions of the marketing mix for the branded product.

Product

The basic aim of the Product or Merchandising strategy is to serve the customer in a

better way than any comparable retailing organization in its market segments. The five

rights of successful merchandising are to ensure that the customer is offered the right

merchandise, at right place, at right price, at right time and in the right quantities. The

peculiar characteristic shown by the Indian consumer is his habit of comparing the products

of various brands and then arriving at the purchasing decision. This makes the retailer to

store appropriate kinds of merchandise in the retail store.

People

Todays Indian customer is looking for personalized attention in this world of mass

merchandising and mass marketing. This is where the personnel at the retail store plays a

special role in making the customer feel that he is the most important customer to them. The

basic quality that these store personnel is to have empathy with the customer, understand his

problems and deliver the services and solutions to his problem in a better way.

Presentations

Consumer responds to more than a tangible product or service. Thus retailers cannot

neglect the psychological effects of their outlets on consumer purchasing behavior. These

effects are called silent language of communication. Let it be any customer in the world the


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quality of the retail store is usually associated with the way the retail store is presented to

him and the Indian customer is no exception to it. This makes the retailer to present his

store to the Customer in a better way.

Place

The basic reason for the sustainability of mom-n-pop store in India is the easy of

accessibility they provide as they are located very much near to the customers. This makes

the location an important factor which the retailer needs to look into to give ease of

accessibility and convenience to the customers and eat away the market share of mom-n-pop

store.

Promotion

Just as price is the most important factor for Indian consumer so is the promotion.

The promotional schemes not only include the advertising schemes but also the discount

schemes for which the Indian customer pays the most attention. This makers the retail store

to keep on developing continuous promotional schemes to motivate the customers for

buying.


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Importance of Retail branding to Retail Marketing Strategy

Facing a marketplace overflowing with stores, retailers have to search for new ways

to grow. Vertically integrated retailers have found branding as a new Way.

The reasons for brands working for customers are:

They simplify everyday choices (a shopper who regularly buys Crest doesnt have to

agonize continually over toothpaste)

Reduce the risk of complicated buying decisions ( mainframes and Boeing jets arc

safe choices)

Provide emotional benefits (Tiffany)

Offer a sense of community (Apple Computer and Saturn)

Thus it is impossible to imagine a retailer surviving and flourishing in the years to come

without creating a genuinely robust brand. Establishing and communicating it is more

difficult for multibrand retailers than for their single-brand counterparts, but brand building is

essential for both. Multibrand retailers must take back from their vendors full responsibility

for managing their banner brand. Only then can they build and maintain all of the value-

creation potential of the names of their stores.

But the picture is quite different for retailerscategory killers, department stores,

discounters, and the likethat sell a range of other companies brands. Although somemultibrand retailers have managed to command a national brand identity (in Searss case, one

founded on reliability). Many suffer from a lack of brand distinctiveness independent of the

brands they carry. In fact many multibrand retailers have lavished more thought and care on

those brands than on their own banner.

But the multibrand retailers like their single-brand Counterparts, can and must create a brand

personality with which consumers want to identify and rethink the underlying business

system that is needed to deliver it.


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Strategic Decision framework Opening a retail Store

The first and the foremost thing which needs to he done while opening a retail store is

to do a detailed strategic planning. The various issues covered in this strategic planning are

Self Assessment & Business Choice

The first step in Self Assessment & Business Choice is to evaluate your strengths and

weaknesses vis--vis your target segment. The other important questions, which need to be

addressed, are

o What is the type of retail store that will fit your strengths?

o What will make the retail store unique?

o What will the retail store offer for customers?

o How can you capitalize on the weaknesses of the customers?

o What will be the differentiating factor for the retail store and in what way you can

capitalize on competitors weaknesses?


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Brand

A brand is a product from a known source (organization). The name of the

organization can also serve as a brand. The brand value reflects how a product's name, or

company name, is perceived by the marketplace, whether that is a target audience for a

product or the marketplace in general (clearly these can have different meanings and

therefore different values). It is important to understand the meaning and the value of the

brand (for each target audience) in order to develop an effective marketing mix, for each

target audience. The value of the brand for a web-based company may have heightened

importance due to the intangible nature of the web.

Building a Brand for Market Success:

When people hear the name, they conjure up a set of impressions that influence how

they think and buy. Those thoughts define the brand for a company.

The brand resides in the customer's mind as a result of all the impressions made by

encounters with the companys name, their logo, their marketing messages, and everything

else that people see and hear about a companys Business.

A brand is also a kind of promise. It is a set of fundamental principles as understoodby anyone who comes into contact with a company. A brand is an organization's "reason for

being"; it is how that reason is expressed through the various communications to its key

audiences, including customers, shareholders, employees, and analysts. A brand should also

represent the desired attributes of a company's products, services, and initiatives.


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Success strategies for focused brands

Two main strategic imperatives have helped lt brands succeed.

The first is to strive to own the category and to lead in its development, which

means making a brands personality thoroughly distinct and then constantly seeking to

broaden the way consumers think about the category and the brand.

The second is to establish the brand as truly pervasive by seeking out every possible

sales opportunity swarming sales alliances to build presence quickly. Channels and

geographies to maximize penetration and using

Owning and broadening the category

For this first step is developing distinct personalities. After this focus brands should

always seek to broaden the definitions of their categories. Although they are constrained by

the way consumers think about those categories, they can cautiously at least do things to

change those ideas. Redefining categories opens the playing field for a category brand.

Capturing all occasion

Focused brands also drive shareholder value by going alter every possible

opportunity. Coca-Cola is one of the best examples of a company that swarms sales

channels and geographies not only vending machines, fountain service, supermarkets, and

convenience stores, but also movie theaters, video stores, and even taxis, where the company

places coolers.

Focused brands can create additional value by using alliances to expand their

presence rapidly. Meanwhile Intel, perhaps the classic example of a company that uses

alliances, has collaborated with PC hardware manufacturers to establish the first and

strongest real brand in the computer chip industry.


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Success strategies for diversified brands

Successful diversified brands pursue three strategies: they find and constantly

reinforce the golden thread that knits together their diverse businesses; they invest in buildinghigh-credibility personalities; and they systematically leverage their brands by cross-selling

products to customers and by restructuring industries where existing brands are weak.

Creating the golden thread:

Design defines a core part of the brands personality and ensures that customers

always experience the brand in a consistent way. Disneys golden thread is the concept of

wholesome fun.

Building highcredibility personalities

All brands must have characteristics that enhance their credibility and inspire trust in

consumers. Rut broadly diversified brands seem to distinguish themselves most in the areas

of trustworthiness, leadership, and intelligence.

Leveraging aggressively

Having found the golden thread and built a personality around it, diversified brands

move both to cross-sell and to claim as their own new industries where brand intensity is low

and where their brand thus enjoys a competitive advantage.


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Branding:

BRANDING is the term used to describe all the things a marketer does/can do to

affect the brand image, and hopefully create the associations and experiences that will make

the BRAND IMAGE a strong one. Of course, there's only so much a marketer can do to

communicate the essence of a brand. It's in the customers' minds, and only the customers

control that.

Understand this way, a BRAND is a promise -- a promise of an important benefit,

delivered the same way, time-after-time. It's not something the marketer says or does. It's

what the target audience sees, hears, experiences, and believes to be true.

BRAND and BRAND IDENTITY and BRAND IMAGE are very close in meaning.

You use BRAND when you're talking about the product or company itself, and you use

BRAND IDENTITY or BRAND IMAGE when you're talking about the way people perceive

the product or company.

Brand Image:The perception of your product or your brand by the consumer.

Brand Equity:

Brand Equity is an intangible asset that depends on associations made by the

consumer. There are at least three perspectives from which to view brand Equity:

Financial terms: One way to measure the Brand Equity is to determine the price

premium that a brand commands over a generic Product. However, expenses such as

promotional costs must be taken into account when this method is used to measure

Brand Equity.

Brand Extensions: A successful brand can be used as a platform to launch related

products. The benefits of brand extensions are the leveraging of existing Brand

Awareness thus reducing the advertising expenditures, and a lower risk from the

perspective of the consumer.

Consumer based: A strong brand increases the customers attitude strength toward

the product associated with the brand. Attitude strength is built by experience with a


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product. The customers associations and lead to perceived quality, inferred attributes,

and eventually brand loyalty.

Brand Value:

Brand value is the dollar value of a brand, calculated as net present value (NPV), or

todays value of the earnings the brand is expected to generate in the future. Like any other

financial value, brand value is, at a point in time, based on the assumptions and information

available at that point in time. Brand value is calculated according to the most widely

accepted and used valuation principles. This makes brand value comparable to business- and

all NPV-based asset values.

Why are brands valued?

The purpose of the valuation is to demonstrate to the business community that brands

are very important business assets and, in many cases, the single most valuable company

asset. We also aim to make branding and marketing; key business issues that have direct

impact on shareholder value.

Advantages of Branding:

Well defined and carefully managed brands provide many competitive advantages to

firms everyday:

Increased initial sales

Repeat purchases

Customer retention during adversity

Higher prices

Greater message receptivity

Increased new product acceptance

Branding Advantages can help you gain the competitive advantage today.


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Literature Study

The first step of any research study is literature study. Based on the study objective

during the literature study the specific areas and issue up on which data gathering will be

decided. It is a paramount importance because it equips the researcher with macro view of

micro issues.

It gives exhaustive information to the researcher in the area and provides diversified

view on particular subject. Academic journals, conference proceedings, report books etc are

must e tapped depending on the nature of the problem. It is the process that one source would

lead to another. The literature review encompasses different kinds of information sources

concerning the identification of various reason behind the assessment if service quality. It

started with search in

Internet and textbooks and other relevant magazines. The earlier studies, if any which are

similar to the study, concerning the problem at hand must necessarily be surveyed and

examined before a definition of the research problem is given. This is done to find out what

data and other materials, if any are available for optional purpose. All this will enable a

researcher to take new strides in the field for furtherance for knowledge, i.e., he can move up

starting from the existing premise.

The central idea in review of literature is data gathering. So, review of literature is

carried on. A researcher should carefully scrutinize the available information and use

discretion, to find out whether the gathered data is adequate and sufficient for the problem.

The references were made and extracts were drawn from old project reports and

ICFAI journals. The summary, questionnaire design etc are made with the reference from

those reports.


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DATA ANALYSIS AND INTERPRETATION

Table No.1

This table shows the Malls name that come to minds of People:

Sl No Malls in Bangalore No. of Respondents Percentage

1 Forum 53 44%

2 Garuda mall 32 27%

3 Bangalore Central 24 20%

4 Sigma Mall 6 5%

5 EVA Mall 5 4%

Total 120 100%

Chart No:1

Best mall that comes to the minds of People

44%

27%

20%

5% 4%Forum

Garuda mall

Bangalore Central

Sigma MallEVA Mall

Inference: From this table it is clear that most of the respondents know about Forum, Garuda

and Bangalore Central Mall than any other Mall in Bangalore. More than 40% of people

know about Forum when compared with any other Mall. Respondents are aware of Forum

because it was the first Mall built in Bangalore which gave a different look about shopping to

Bangaloreans.


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Table No. 2

This table depicts the reasons of awareness about the Malls:

Sl No Particulars No of Respondents Percentage

1 Friends 64 53%

2 Ads 7 6%

3 News papers 28 23%

4 Any other 21 18%

Total 120 100%

Chart No 2

Shows the means through which people came to know about the Malls:

0

10

20

30

40

50

60

P

ercentages

Friends Ads News

papers

Any other

Media

Percentage

Inference: From the above table and Graph we can infer that approximately 53% of the

respondents were aware of the mall only through friends. We can say that word of mouth

publicity contributes very much towards the awareness of the malls.


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Table no. 3

This table shows the frequency of visit to the Malls in the past one month


1 Once 41 34%

2 2-4 Times 62 52%

3 More than 4 Times 17 14%

Total 120 100%

Chart No. 3

Frequency of visits to Malls in the past one Month:

0%

10%

20%

30%

40%

50%

60%

Once 2-4 Times More than 4

Times

Percentage

Percentage

Inference: We can infer from the above table and graph that approximately 52% of the

respondents visited the Malls 2-4 times in the last one month.


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Table No 4

This Table shows the reason why people visit the mall:


1 Window Shopping 13 11%

2 Shopping 48 40%

3 Entertainment 41 34%

4 Food 18 15%

Total 120 100%

Chart No 4

The Main reason why people visit the Malls

11%

40%34%

15%

Window Shopping Shopping Entertainment Food

Inference:From the above graph it can be inferred that most of the respondents went to the

Mall for Shopping and entertainment. Malls have become a good place for entertainment

many people usually go to the mall with the mind of shopping but when they feel the

atmosphere they think that it should be meant for entertainment rather than for shopping.


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Table No 5

This table shows the duration of stay in the Mall:


1 Less than 1 Hour 20 17%

2 1-3 Hours 57 48%

3 More than 3 hours 43 35%

Total 120 100%

Chart No 5

How long will the customer stay inside the Mall

0%

5%10%

15%

20%

25%

30%

35%

40%

45%

50%

Percentage

Less than 1 Hour 1-3 Hours More than 3 hours

Percentage

Inference: From the above table we can infer that most of the respondents stayed in the

mall in the Range of 1-3 hours during their Visit. People stayed in the Mall because they feel

that malls are good to spend time rather than spending time in other places. In malls people

feel that they can spend time with leisure.


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Table No 6

How do customers rate the following aspects of a Mall:

Particulars Cumulative Score Ranks

As a Place to Shop 4.75 2

As a place to Eat 4.5 3

As a place for entertainment 5.38 1

Calculation: As a place to Shop

= (60*5+21*4+20*3+12*2+7*1) =475

Cumulative Score/100

475/100=4.75

As a place to Eat

= (26*5+48*4+36*3+10*2+1*0) =450

450/100=4.5

As a place for entertainment

= (80*5+23*4+12*3+5*2+0*1) =538

538/100=5.38


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Chart No 6:

4

4.2

4.4

4.6

4.85

5.2

5.4

CumulativeScore

As a Place to Shop As a place to Eat As a place f or

entertainment

Cumulative Score

Inference: Many of the people who visit malls come for entertainment for which it is not

meant for but since malls are built for generating revenues from shopping. It is good that

people are going to malls for entertainment purpose. Which in turn also will produce revenue

for the Malls.


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Table No 7:

This table represents the main reasons which arouses interest in Malls

Sl No Particulars No of Respondents

1 Variety of Shops 31

2 Shops are convenient & Accessible 41

3 Selection of Restaurants 22

4 Good Place to Socialise 6

5 Entertainment/Movies 16

6 Good customer Service 4

Total 120

Chart No 7

This chart shows the reasons which arouses interest in Malls

31

41

22

6

164

Variety of Shops

Shops are convenient &Accessible

Selection of Restaurants

Good Place to Socialise

Entertainment/Movies

Good customer Service

Inference: From the above table and graphs we can infer that the main reason which

interests people to visit malls is that the shops present there are convenient and accessible

.This proves that to increase the number of footfalls it is imperative to have a large number of

shops which provide avenues for shopping.


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Table No 8

This table represents the various categories in a Mall that interests the customer:


1 Clothing 31 26%

2 Jewellery 4 3%

3 Electrical/Electronic

Appliances

53 44%

4 Food 12 10%

5 Movies 20 16%

Total 120 100%

Chart No 8

This chart represents the various categories in Mall that is interested for the customer:

0%

10%

20%

30%

40%

50%

Clothing Jewellery Electrical

Appliances

Food Movies

Clothing Jewellery Electrical Appliances Food Movies

Inference: From the above table and graph it can be inferred that the main reason of interest

for purchase is Electrical/Electronic Appliances (ex: i-pod, MP3 players, Playstation).Followed by purchase of clothing.


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Table No 9

This table studies the how Respondents feel about the quality of service when they visit

Malls:

SL No Particulars No of Respondents Percentage

1 Satisfied 67 56%

2 Dissatisfied 42 35%

3 Unsure 11 9%

Total 120 100%

Chart No 9

This chart shows how the customers feel about the quality of service to respondents at Malls:

56%

9%

35%

Yes No Unsure

Inference: From the above table we can infer that approximately 56 % of the respondents

are satisfied with the quality of service they receive when they visit the malls. It means that

most o the respondents are satisfied with the quality of service if its improved further more

then it would be more appreciating for the Malls when the New Malls come up in the town.


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Table No 10

How do People Rate the following things in Malls

1. Parking Facilities at MallSL No Particulars No of Respondents Percentage

1 Excellent16 13

2 Good37 31

3 Fair41 34

4 Poor16 13

5 Very Poor10 8

Total120 100

Chart No 10

This chart depicts the Parking facilities at malls:

13

31

34

13

8

0

5

10

15

20

25

30

35

Excellent Good Fair Poor Very poor

Inference: From the above table we can infer that most of the respondents rate theparking facilities at the malls as fair, and approximately 31 % of the respondents rate as

good. So we can infer that the parking facilities at the malls are satisfactory.


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Table No 11

2. Cost of Parking facilities at the Malls

SL No Particulars No of Respondents Percentage1 Highly Satisfied

12 10

2 Satisfied43 36

3 Neutral34 28

4 Dissatisfied23 19

5 Highly Dissatisfied8 7

Total120 100

Chart No 11

Cost of Parking Facilities at the Malls:

10

36

28

19

7

0

5

10

1520

25

30

35

40

Highly

Satisfied

Satisfied Neutral Dissatisfied Highly

Dissatisfied

Inference:From the above table it can be inferred that that the respondents are satisfied

with the cost of the parking facilities at the malls. Since they feel secured when they park

their vehicle in the mall it would be easy for them to get back to their vehicle easily and

go back home. Now a days the parking rates are same in every mall except in some

special cases.


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Table No 12

3. Overall Quality of Life in Mall


1 Excellent24 20

2 Good39 33

3 Fair29 24

4 Poor17 14

5 Very Poor11 9

Total120 100

Chart No 12

The quality of life in Mall

20

33

24

14

9

0

5

10

15

20

25

30

35


Inference: From the above table and graph it can be inferred that most of the

respondents have rated the quality of life in the malls as good. Quality of life here refers

to what people feel when they come to Malls like: Secured, Hassle free atmosphere, the

quality of music they play in Mall.


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Table No 13

This Table shows the customers opinion about the Location of the Malls


1 Excellent21 18

2 Good47 39

3 Fair29 24

4 Poor16 13

5 Very Poor7 6

Total120 100

Chart No 13

Opinion about the location of Malls

18

39

24

13

6

0

5

10

15

20

25

30

35

40


Inference: From the above table it can be inferred that the respondents feel that the

Location of Malls are good. Many people are comfortable with the location of the mall.

People feel that the even though the Malls are located far from their houses they are

comfortable to come to the Malls and go back since the approach is good.


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FINDINGS

These are some of the findings which were evident from the study.

1. Forum Mall has the maximum level of awareness amongst the respondents because it

was the first Mall built in Bangalore which gave a different look about shopping to

Bangaloreans.

2. Most of the respondents came to know about the Mall through Friends and News

papers Promotional ads. It comes to evident that Word of Mouth is a very good means

of communication when it comes to Malls.

3. It is evident that most of the respondents came to Malls for more than twice in a

month because they feel that malls are the best place to spend time than spending

time elsewhere.

4. From the study it is evident that most of the respondents visited the Mall for

Shopping and Entertainment rather than for Window shopping and Food.

5. Most of the respondents who visited the Mall used to stay in Mall for more than 2

hours usually many of the respondents came to Mall from very distant places and

returning back to their places within a short period made uninteresting so they stayed

in Mall for more than 2 hours.

6. Many respondents rated the malls as a best place to shop as they used to shop forclothing and Accessories which they felt are the Best place to shop because all the

malls host a very good variety of clothing and accessories.

7. Respondents rated the mall as a good place to eat because they think that most of the

Malls consist of Food Courts which were selective and good.

8. When it comes to entertainment most of the respondents feel that malls are the best

place for entertainment because of the Multiplex theaters and the host of promotional

programmes which are put up form time to time.

9. Most of the respondents feel that shops should be convenient and accessible to shop

and they also feel that food courts are also of same importance to people which

interests them to visit the Malls.


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10.It is evident that most of the respondents are interested in purchasing

Electrical/Electronic appliances from the Malls because they trust in the genuineness

of goods in the malls rather then purchasing from other shops.

11.Most of the respondents feel satisfied with the quality of service provided in the

Malls. This attracts more customers when the service quality is good in a Mall.

12.The respondents were not satisfied with the parking facilities provided in the Mall

because during the weekends there will be no space for vehicles after 6 pm which

make many of the customers feel panic when parking is not available when they come

from distant places.

13.It is evident that most of the respondents feel satisfied with the cost of Parking

facilities in the Malls but many of them are no satisfied because many feel insecure

when they park their vehicles because of some discrepancies.

14.Many respondents are happy with the Quality of life in Mall which comprises of

things like they can visit shops which ever they want, the prices are fixed and there is

no cheating the payment process, etc

15.Even though Malls in Bangalore are far except Garuda and Bangalore Central which

are located near when compared to others. Respondents feel that location of Malls in

Bangalore is good as the approaching is good.


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RECOMMENDATIONS

1. Since people are looking for different experience while shopping Malls in Bangalore

should look in for more variety of shops rather than only luxurious goods and

Clothing.

2. Many of the Malls cater to the needs of Niche segment rather than focusing on

Middle class people which is much bigger segment. If their needs are catered then the

Malls would do much better than what it is doing now.

3. Malls like EVA and Sigma should look for attracting more customers by conducting

some stage shows on weekends in order to attract more and newer customers.

4. Parking facility is a main bane for all the Malls which will create problem for

customers during the weekends. So I would like to suggest allotting more space for

parking which makes people to feel comfort while parking their vehicles in Malls.

5. The malls should introduce some of the Gaming centers which would make the malls

more crowd attracting and will also increase the revenue for the Malls.

6. Since most of the customers come to Malls for shopping and entertainment I would

like to suggest that much importance should be given to these areas which makes the

people who visit Mall to visit the Malls more frequently.

7. Most of the respondents feel that Malls are more convenient and Accessible whichmakes them to shop more easily. So they should also improve the range of shops in

Mall which makes the customer much easy to shop than from any other place.

8. Many customers like to shop for apparels and other luxurious goods in Electrical

segment so much importance should be given for them which makes the customers to

shop happily. Rather than searching for goods which they like.

9. It is seen that much of the respondents were satisfied with the service quality in Malls

but some of them are not satisfied with the service level so if they are not satisfied

then word of mouth will cause much effect to Malls.

10.It is observed that in Malls many other people will be doing survey but till today no

mall has introduced a opinion survey as to how they feel about the malls if this done

the Mall people will know where they are lagging behind and necessary changes can

be made for the discrepancies.


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11.Many people who like to spend time in Mall will not find any place to sit if this is

provided then much more Mall Rats can be attracted which in order increases the

image of the Malls.

12.Most of the people felt the quality of life in Mall were good. If this is made excellent

then it would help the customers to visit the mall more frequently.


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QUESTIONNAIRE

Creating and Sustaining value through Branding for Malls

Personal Details

Name:

Sex: Male Female

Age: 20 20-30 40 & above

Income Group: 10000 p.m

10000-20000p.m

20000-40000p.m

40000 & above p.m

1. Which are the Malls in Bangalore that come to your mind:

Forum Garuda Sigma Central EvaAny other:

2. How did you come to know about the Malls?Friends Ads News PaperAny other:

3. How many times in the past one month have you been to the Malls:Once 2-4 Times More than 4 Times

4. The main Reason why you visit Malls:Window Shopping Shopping

Entertainment/Movies Food5. How long do you stay when you come to Malls:Less than 1 Hour1-3 HoursMore than 3 hours.

6. How would you evaluate the following aspects of a mall:Statements Excellent Good Fair Poor Very Poor

As a place to ShopAs a place to Eat

As a place for Entertainment

7. Kindly mention the reason which arouses your interest about in Malls:The Variety of Shops

The shops are convenient & Accessible

Selection of Restaurants


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Good Place to Socialize

Entertainment/Movies

Good Customer Service

8. Which category of shops in a mall that interests you more:Clothing Jewellery Electrical AppliancesFood Movies

9. Do you generally feel satisfied with the level of customer Service youreceive from retail stores in a Mall?

Satisfied Dissatisfied Unsure

10. How do you rate the following things in a Mall:Sl.No

Statement Excellent Good Fair Poor Very Poor

A Parking Facilities at the

MallHighly

Satisfied

Satisfied Neutral Dissatisfied Highly

Dissatisfied

B Rate the cost ofparking facilities at theMall

Excellent Good Fair Poor Very Poor

C Overall Quality of Lifein this mall

Excellent Good Fair Poor Very Poor

D The location of Mall


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BIBLIOGRAPHY

(a) Books:

1. 'Retailing' by Roger Cox and Paul Brittain. Pearson Education Publications, Fifth

Edition, 2006

2. 'Retail Management--A Strategic Approach' by Barry Berman and Joel R Evans,

Pearson Education Publications, Ninth Edition, 2006

3. 'Retailing in India' Edited, ICFAI Publications, 2006

4. Retailing: General' by Standard & Poor's Surveys 2002

5. ' Retailing Specialty' by Standard & Poor's Survey 20026. 'Selection of Retail Locations' by Richard L Nelson, F W Dodge Publications, New

York, 2000

7. 'Retailing on the Move: An Era of Change' by Thelma Snuggs, Black Collegian

Publications 2000

(b) Journals and Magazines:

Journal of Retailing

Journal of Marketing

Retail Biz

Journal of Marketing Research

Strategist (Business Standard)

Websites:

www.Wikipedia.com

www.forumexperience.com

www.google.com

www surveyconsole com

Documents

Nikhil Sharma-0547-Creating & Sustaining Value Through Brand