Beruflich Dokumente
Kultur Dokumente
Retail Strategies of
Planet-M
Submitted to:
Prof. Pravin Patil submitted by:
Pranjal
kumar das
(08bs0002
282)
Prateek
patel
(08bs0002
306)
Acknowledgement
An understanding study like this is never an outcome of the efforts of a single person; we would
like to express a word of thanks to all those who gave me their sincere advice and information
which made my training period an educative and informative one.
My heartfelt gratitude goes to Prof. Pravin Patil, who is always willing to take time off hir busy
schedule for guidance and discussions.
Finally, special thanks to our family & friends who are our source of encouragement and
inspiration.
Abstract
This project is aimed at understanding the Indian music and mobile retail industry with the
special stress is given on one of the major players in the industry; planet M. in this project we
have tried to analyze the market position of planetM, its product line and the services that are
provided to the customers at the retail shops. We have also focused on the product line and the
variety of the products. Finally we have tried to understand the marketing strategies and the
future expansion plans of the group in the growing Indian music and mobile phone market
Introduction
Locations.
Planet M is present in following cities an d has the future plans to expand the business into more
small cities and towns:
Pune, Bangalore, Mangalore, Mysore, Hyderabad, Vijaywada, Vishakhapatnam, Chennai,
Tirupati, Mumbai, Thane, Vashi, Nerul, Nagpur, Nashik, Indore, Aurangabad, Ahmedabad,
New Delhi, Ghaziabad, Noida, Faridabad, Gurgaon, Lucknow, Allahabad, Varanasi, Agra,
Dehradun, Kanpur, Jaipur, Jamshedpur, Chandigarh, Mohali, Patiala, Ludhiana, Jalandhar,
Jammu, Kolkata, Tinsukia, Shillong, Bhubaneswar, Guwahati, Mussourie, Patna, Kochi,
Barrackpore, Barasat, Thiruvananthapuram.
• Music retailing
• Mobile and accessories retailing.
• Gaming and gaming products and accessories
• Gift, greeting items and apparels
Music retailing
PlanetM product portfolio comprises audio CDs and cassettes, VCDs and DVDs, CD-ROMs and
other music accessories. The company is an important player in the home video market.
PlanetM has successfully forayed into high end ‘personal audio’ gadgets like Apple iPods, Neo
Pods and MP3 players. The company also offers home theatre systems, speakers and
headphones.
The company provides World Space receivers and subscription packs, and is now also offering
the Tata Sky consoles and subscriptions.
The core business of the planet m was basically the music retailing. In that segment they offer a
host of options to the customers. With a large collection of music files of different type they offer
the customers with music type of both the national as well as the international levels and artists.
• CD albums
• Music Video/DVD
• CD singles
• DVD Album
• Vinyl
• Cassettes
• Online music and video contents
In addition to the Hindi and English songs that are offered at the outlets the retail chain also
offers songs in 17 other regional languages in India depending upon the location of the retail
shop. The retail chain has a collection of 4.5 million songs in different formats of different artist.
In fact it holds a music library of 20000 albums of different genera. In the Hindi or regional
language music the library is arranged according to the years and the genera of the music. The
customer can find the preferred music on the specific locations of the outlet. The English
language or the foreign language music is arranged according to the genera like pop, jazz,
Latino, county, disco, party, folk and so on.
The retail shop also provides the customization of the music to the customers. Now the
customers can select the songs of different artist or of different genera and upload the preferred
songs into a CD or a DVD. The customers are also given the choice of the quality of the songs.
So they can select the bits rate of the songs and they are charged accordingly the songs selected
or the quality of the songs.
These outlets also offer the video songs and DVD and CDs of the movies of different language
and era. I fact some of the stores have a collection of more than 5000 movies. So the customers
are provided with a large pool of movies to choose from.
In addition to the physical store across India, planet M has also launched online music stores
under the brand. The customers can download the preferred songs by paying the amount through
the online transaction process.
LANDMARK
Landmark commenced its operations in 1987 with its first store in Chennai with a floor space of
5500 sq. ft. Landmark is the first large format book retailer in India.
Landmark currently has 10 stores, ranging in size from 12,000 sq. ft. to
45,000 sq. ft., 3 in Chennai, 1 in Bangalore, 1 in Mumbai, 1 in Vadodara,
1 in Gurgaon, 1 in Pune, 1 in Lucknow and 1 in Ahmedabad. Until 1996,
Landmark was focused on books, stationery and greeting cards and then added music to its
product portfolio and also started the trend of stocking curios, toys, music, CDs and other gift
items. Category killers in all focus categories- Landmark's USP is the range and depth of its
stocks. Landmark currently deals with the following product lines that cater to the needs of all
age groups- Books, Music, Stationery, Magazines, Home Store, Gifts, and Toys.
Landmark sponsors a number of programs related to products and services within the periphery
of Landmark's business. A number of book launch events and music performance events are
organized and hosted by Landmark.
MUSIC WORLD
Music World India is a major source of digital music entertainment and provides a music
platform to all music lovers. It offers a vast collection of songs where one can search songs of
any genre. Music World India is an mp3 search engine for music audio files. Their website
crawler searches through the internet indexes and provides new brand or popular songs with fast
search services. Music World India offers songs of world class bands, genres, artists to
download. They also provide all genres and grooves of cutting edge music and innovative
independent labels.
Music World is India’s largest chain of music stores retailing the widest range of international
and Indian music. Music World operates different store formats to service different consumer
groups. Music World's product portfolio comprises audio CDs and cassettes, VCDs and DVDs,
CD-ROMs and other music accessories. The company is an important player in the home video
market.
Music World has successfully forayed into high end ‘personal audio’ gadgets like Apple iPods,
Neo Pods and MP3 players. The company also offers home theatre systems, speakers and
headphones. The company provides World Space receivers and subscription packs, and is now
also offering the Tata Sky consoles and subscriptions.
ODYSSEY
Odyssey is a 100% subsidiary of Deccan Chronicle Holdings Limited, publishers of newspapers,
Deccan Chronicle and Financial Chronicle.
In 1995, Odyssey opened its flagship store in the southern suburbs of Chennai in Adyar. The idea
was to make people lose themselves doing the good things in life, in a world that would make
the experience as rich as their varied interests – and forget the time.
Today Odyssey operates through 40 stores in 13 cities with about 2.60 lakhs sq.ft
of retail space under its operations.
Recognized predominantly as a book store, Odyssey has genres ranging from
popular fiction, non-fiction, computing, self-help, health, management, food and
drink, travel, art and architecture, children's books and so on, giving its customers a relatively
wide range to choose from.
Apart from books, the store has a wide range of music, movies, multimedia, stationery, toys and
gifts. Odyssey maintains a good mix of products to suit customer's requirements and endeavors
to keep abreast with the market dynamics and latest trends. The chain receives over 4 million
walk-ins every year.
Odyssey India Ltd recently forayed into the optical eyewear category with the launch of The
Eyewear Store a hi-fashion destination for international designer sunglasses & prescription
frames.
FUTUREBAZAAR.COM
FutureBazaar.com is owned and operated by Future Bazaar India Ltd. (FBIL). FBIL is a part of
the Future Group, India’s largest retail conglomerate. FBIL is the e-commerce arm of the Future
Group. The company was incorporated in 2006 and began business in 2007. In FY09, Future
Bazaar sold Rs 122 crore worth of goods, 1.5 per cent of total sales of the Future group.
What makes them different from others!!
➢ A choice of more than 20,000 products
➢ Delivery across more than 1500 cities and towns in India covering around 16,000 pin
codes
➢ Fast deliveries – tie ups with world leaders in logistics & transportation services
➢ A dedicated Customer Care helpline for any queries
➢ Always offering Manufacturer’s guarantee as opposed to Seller’s guarantee, which most
of the other online shopping sites offer
➢ Aggressive Pricing strategy
➢ Guaranteed Delivery
➢ Their simple 15-Day Return Policy
EBAY.IN
Founded in September 1995, eBay is a global online marketplace where practically anyone can
trade practically anything. eBay is a platform for the sale of goods and services by a diverse
community of individuals and businesses. Today, the eBay community includes more than 222
million registered members from all around the world.
At any given time, there are approximately 100 million listings on eBay worldwide, and
approximately 6.6 million listings are added per day. The users can trade in more than 50,000
categories including collectibles, antiques, sports memorabilia, computers, IT and office, art,
antiques, toys, dolls, stamps, comics, magazines, music, pottery, glass, photography, electronics,
jewellery and gemstones.
eBay India (formerly Baazee.com) was launched in India in 2000 & has become one of India's
leading online shopping destinations. eBay India has a community of over 2 million registered
users across over 670 towns in India. Approximately 12,800 sellers use eBay India as a primary
or secondary source of income. (Source: A C Nielsen International Research, June 2006)
Although eBay is a global company, eBay.in offers a trading platform tailored to the unique
needs of Indians. The eBay community consists of passionate Indians as well as International
buyers and sellers trading in a variety of goods.
Marketing strategies of planet m
In terms of the marketing products and the services the brand planetM is very successful in the
Indian context. As pert the latest data concern, the company registered an annual footfall of more
than 8.5 million people in their retail stores across India with a conversion rate of more that 40%.
In fact it is one of the highest in the Indian retail sector. For the expansion of the retail market
India and the growth of the market share of the company, they have adopted many marketing
strategies which can be highlighted as-
• Celebrity endorsement is one of the focuses in the planetM retail shops. The retail
brands hosts many celebrities in the media campaign. Music releases of many of the
newly released movies are organized at the selective planetM retail shops. Shahid
kapoor, Hrithik Roshan, Abheshak Bacchan are the regular visitors at the retail outlets
of planetM. By this type of marketing, the company is also gaining the media focus and
the market exposure.
• The locations of the stores are in such places where there is more crowds of the young
people and the teenagers. By this way planetM is able to attract more and more
customers to its stores. In fact the customer base has increased by almost 35% in the
last three years.
• The ambience and the interior of the retail shops are also organized in such a manner to
attract the youth and the teens. The stores display the product in a very organized way.
More over there are music playing ports where the customers can listen to the music
prior to the purchase. They are offering a host of products of different brands under the
same roof to the customers resulting into better conversion rate.
• Another very popular marketing strategy adopted by planetM in all the retail shops is
the discounts and sales. They offer discounts and sales in their product to attract the
customers. Moreover there are always surprise gifts and goodies with the purchase to
encourage the customers.
• The wide range of the product offerings available in the retail outlets of another factor
of attracting more and more customers. For example, in the music segment they have a
collection of more than 4.5 million songs of different language and 20000 albums.
They provide options to the customers in 17 different Indian languages to cater to all
cultures of the Indian society.
• Most of the products at the retail shops are focused at the youth population of the
population. For that they offer products ranging from the music, mobile and
accessories, games and other apparels like the eye gears and t-shirts. Thus offering the
youth with a complete shopping experience.
• The pricing of the products in the planetM retail shops are very competitive compare to
the others. Along with the discounts and the value added services, this combination
offers the customer a very good shopping option.
Business strategy and future expansion plan
With the fast growing retail sector in India, the music and mobile retailing sector is witnessing an
explosive growth. To keep up with the expanding market the consumer base, planetM has also
taken some future expansion plans and future strategies for growth
• It aims to introduce more than 500 retail stores in India by the end of this year. This was
announced by Venugopal Dhoot in March’09. In addition to the present stores the
company plans to increase the total number of its planetM retail stores to 1500 in the
coming three years.
• An investment of Rs 1800 crore is planned to be infused into the retail business of the
Videocon group.
• The company has tied up with many of the film producing houses in Bollywood as well
as the western music houses to market their products. The company also plans to gain the
exclusive marketing rights of many upcoming Hindi movies in the coming years.
• The company has also tied up with the Japanese electronic major Hitachi for the
marketing of its products under the retail chain. In addition to that, the company has also
moved into an agreement with mobile phone major Nokia for the marketing of the mobile
phones along with the other major players like Motorola, Samsung, LG, Sony etc.
• There are announcement from the company to introduce more product lines under the
brand name. For that they are in talks with the other retail chains of the Videocon group.
• The company also plans to introduce itself to the in the small cities with market
opportunity. For that it has identified about 100 new tier II and tier III cities to set up the
retail outlets.
Conclusion
The Indian entertainment industry is growing very fast with the acceptance of the Indian
music and the movies in the west and middle east. With this developments the industry has a
very good prospect to increase its size and the market penetration. The organized music and
entertainment industry is also bound to grow with the boom in the music industry. The
addition of the new retailers and the competition between them has spiced up the market
resulting it improvement in the product offerings and customer service.
The planetm holds a very strong ground in the organized music retailing. But with the
changing market situation and competition, it has to come up with new and innovative
product offerings to attract the customers and to retain the market leader position.
References
• www.planetm.com
• www.musicworld.com
• www.marketresearch.com
• www.imrb.com
• Retail management, ICMR
• www.financialtimes.com