A STUDY ONMarketing Strategy of V-MART

AMAAN KHAN

V-MARTType HypermarketFounded 2002Maiden store AhmedabadIndustry RetailProducts Apparels, Non Apparels, Department, Grocery store

Key People LALIT AGARWAL, Madan Agarwal,

Hemant AgarwalPunchline ‘Sabse sasta,Sabse Acha’Retail Space 8.20 Thousand Sq Mtr Advantage (tier II & tier III cities)

Currently 108 outlets

Overview of V-MARTFirst incorporated as Varin Commercial Private Limited under the Companies Act in 2002 in West Bengal. Then in 2003, V-MART opened maiden store in Ahmadabad (Gujarat).

In the Year 2004 V-MART opened first store in capital city, New Delhi. Further in 2006 V-MART crossed 1 lac sq.ft. retail space.

In the year of 2008, V-MART hit the base by registering V-Mart Retail as a public limited entity and also crossed the turnover of 1,000 million INR As the time passes by V-MART took the shape of a renowned family brand that caters the needs of whole family by offering high quality retail products. Along with growing customers, V-MART achieved a turnover of over INR 2,000 million in 2011-12 In the Year 2015 V-MART crossed the retail space of 8.20 Thousand Sq. Mtrs.

V-Mart is a complete family fashion store that provides its customers true value for their money.

V-MART offer customers a great shopping experience each time they visit V-Mart store by offering a vast range of products under one roof. Maintaining

high standards in quality and design, V-Mart offers fashion garments at down-to-earth prices and over a period of time has emerged as the destination of

choice for bargain hunters and the fashionable alike.

V-MART primarily operate in tier II & tier III cities with the chain of “Value Retail” departmental stores. Our stores cater to the needs of the entire family altogether by offering apparels, general merchandise and kirana goods.

V-MART has 108 stores across 91 cities in 12 states and union territories, with a total retail area of 8.82 Lac sq.ft (8.20 Thousand

Sq Mtr.). V-MART stores are located in prime states/cities such as Bihar, Chandigarh, Gujarat, Haryana, Jammu & Kashmir, Madhya Pradesh, New

Delhi, Punjab, Rajasthan, Uttarakhand and Uttar Pradesh. We are amongst the pioneers in setting up modern ambience stores or large retail malls

across various small towns and cities like including Sultanpur,Faizabad,Ujjain,Motihari and more.

PRODUCTs• Apparels = Private Labels + other• Non- Apparels= Other • FMCG= Private + Other

Trying to increase the proportion of Private Labels in FMCG

Apparels

Men's Wear

Ladies Accessories

Infants

Women

Kids Boys

Kids Girls

Footwear

Boys

Ladies

Girls

Men

Lifestyle

Time Zone

Men's Accessories

Optical

Gifts & Novelties

Perfumes

Toys & Games

Soft Toys

Board Games

Dolls

Infant Toys

Cycles & Scooters

Video Games

Stationeries

School

Party Stuff

Office

Paper Mart

Diaries

Travel Accessories

Vanity Cases

Shoulder Bags

Executive Bags

School Bags

Suitcases

Kirana bazaar's collection

biscuits

Fruit juice

Hair oil

Soap

Atta

Masala

Rice

Tooth paste

Energy drinks

Liquid antiseptic

Shampoo

Home Furnishing

Bed sheet

Mat

Cushion cover

Cup and plates

Cup sets

Tray

Bowl

Board of director

Chairman and Managing Director

Director procurement

-General Merchandise

Director procuremen

t-Apparel and private

labels

Senior VP Operation

and Marketing

VP Strategic

Planning and HR

C F O

Company Secretary

General Manager

I T

V-MART ORGANISATIONAL STRUCTURE

EVENTS • Company was incorporated as VARIN COMMERCIAL PRIVATE

LIMITED 2002

• Open maiden store in the state of Gujrat.2003

• Open maiden store in NEW DELHI2004

• Changed our name from Varin Commercial Private Limited to V-Mart Retail Private Limited2006

• Converted into a public limited company from V-Mart Retail Private Limited to V-mart Retail Limited2008

• Achieved a turnover of over ` 2,000 million in Fiscal 20112011

• Crossed an aggregate of 500,000 square feet of retail space2012

Marketing strategy of V-MART

Regional cluster based expansion and penetration (a) Enhancing brand visibility (b) Understanding customer preferences (c) Better utilization of human resources (d) Effective implementation of marketing activitiesPROMOTIONAL EVENTS –Free eye checkup ,blood donation campaignDedicated focus towards increasing same store sales growthCross promotion through “Intelligent Marketing”Increase in customer loyaltyContinue to invest in IT infrastructureForay into e-commerce and start our online retail portalContinue to provide training to our employees and invest in human capital.Hiring people with disability by joining hand with SARTAK

Objectives To know the strategy adopted by V-MART in the current retail marketing environment.To have a proper understanding and analysis of V-MARTTo know the marketing strategies that V-MART adopted to make a good relationship with its customers.To know the people perceptions towards V-MART.To evaluate the recent trends of Indian retail industry in order to come out with prospects for India’s one of leading retail chains V-MART.

RESEARCH METHEDOLOGYMethod of data collection used in the research is PRIMARY DATA collection methodPrimary Data – QUESTIONNAIREsample size -100Sample profile- customer of V-MARTSecondary data-

www.vmart.co.inNewspaper, journals.

QUESTION 1:- How do you know about V –Mart ?

TV Hoarding Newspaper friends Net

23

19

31

25

2

QUESTION 2 :- How often do you come at V- Mart ?

Series1

49

12

39

Chart Titleonce in a week twice in a week once on a month

QUESTION 3:- On an average how much amount of money do you spend on a visit ?

Series10

5

10

15

20

25

30below 500500-10001000-15001500-2000above 2000

QUESTION 4:- What kind of products do you purchase from V-Mart ?

Series1

43

16

35

6

Chart TitleApparels Non-Apparels Food Items Home Appliances.

QUESTION 5 :- How would you rate the following attributes for V-Mart?

Ambience

Display

Locati

on

Layout o

f store

Store operati

ng hours

Billing S

ystem

Parking a

rea0

102030405060708090

Chart Title

Very good good Average Poor Very Poor

QUESTION 6:-Are you aware about various schemes of V-Mart on regular Basis?

59%

41%

no of respondentyes no

QUESTION 7:- What excites you most for shopping at V-Mart ?

More Variety

Branded products

Discounts

on

Better custo

re servi

ce

Buy 1 ge

t 1 fre

e

Returns and exch

ange

183

61

412

2

No. of respondents

Findings It is found that 31% of the people came to know about V-Mart through newspaper.

It is found that consumer attitude towards frequency of visit seems that 49% of majority consumers prefer to visit the store Once in a week.

The main selling area of V-Mart is Garments and Food.

The analysis shows that 26% of people spend Rs. 1000-1500 on a visit at V-Mart whereas 24% of respondents said that they spend BELOW 500, Only 17% of customers spend above 2000 on a visit at V-Mart.

41% of the total number of respondents said that they are not aware of different schemes provided by V-Mart and remaining 59% said that they are aware of different schemes.

Majority of respondent’s said that discount on ,buy 1 get 1 free and more variety offer on products excites them most for shopping at V-Mart.

Mostly all the respondent are not satisfied with the parking facility available at V-MART ,Faizabad store.

SuggestionCompany should try to increase publicity in and around 0-10 kms of V-MART with the help of different medias like local FM radio, print media, and posters especially when there are special schemes for customers.

V-MART should introduce various schemes periodically, say once in forth nightly.

It is suggested that the company should adopt aggressive marketing campaigning and advertising during times of seasonal bulk items like wheat, oil, ghee, spices etc. and provide fair discounts on bulk purchase.

Making stalls in corporate mela’s like trade fair, maybe beneficial to create brand image of its product

Company should provide regular training to their staff and aware him with the modern technique of selling and customer dealing.

A special discount may be given on purchases exceeding certain limits.

There should be more number of billing machines at the billing counter.

Should enlarge the parking area

Limitations Limitation of data. Limitation of time.Sample size is limited due to the limited period allocated for the survey.Getting accurate responses from the respondents due to their inherent problem is difficult. They may be partial or refuse to cooperate.Respondents may not be interested to give the data.Sometime respondents are not taking interest in such type of surveys therefore there is chance that they might be giving wrong information.The respondents are free from all barriers so he/she can give his/her opinion which may not be true in many occasions.

CONCLUSIONIn the research I found that Indian retail industry is very complicated in nature because the taste and preferences of the customers vary a lot in nature. The customers are very choosy in nature; they are not ready to compromise with their requirements. The customers have lots of option related to the choices. There are many competitors in the retail industry. So the sales and promotion activity of the company is the only tool to attract the customers. TO work effectively in the market and face the challenges in the current marketing situation organization must have to adopt a very efficient and goodMARKETING STRATEGY.

BIBLIOGRAPHY

www.vmart.co.inwww.google.com

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