Future Lifestyle Fashion Case Study
4. PART 1
To conduct research and analyze the Effectiveness of the promotional tools and techniques & physical surroundings (situational factors) used at Future Lifestyle Fashion Limited (In-Store) to influence buying behavior.
4.1 PROBLEM STATEMENT
There are various Promotional tools available in-order to increase sale as-well as to clear stock on regular basis in order to replenish the store with new arrivals.
The choice of tools have to be appropriate considering the demographic aspects of the prospects and their attitude towards each promotional tools offered at the store level.
It is often an issue to identify the right tool to be utilized for diversified demographic population as the tastes and preferences of the consumers vary rapidly …show more content…
Further, placing the event promotions on the ladies floor only has reduced the reach of the event for both the genders equally.
Placing the event promotion on both floors with help of effective sign-ages, hoardings supported by effective gift vouchers on Fridays will improve the reach to a large extent.
Figure:10
Figure:11
5.7 CONCLUSION
The whole survey proves to be an effective initiative by the Future Group in order to study the customer responses on weekly basis rather than just taking a lump sum sample size for just a single period. The survey conducted across various periods helps study consumer behavior and responses in line with dynamic economic changes prevailing in the market.
Hence, refurbishing the strategy accordingly in order to make the event as successful as that of the Wednesday's Bazaar at Big Bazaar.
Though at the budding stage the survey does prove to be an effective tool as it has recorded significant positive results in reaching the event to the growth stage at the earliest by fine tuning the strategy according economic and buying behavior changes in the minds of the customers …show more content…
Further, financial analysis on an aggregate basis showed that for 'Central' the Jan - March quarter was dry sales period because offers were being given during June to restore normalcy. So, the March - June quarter indicates normal sales period. A dip in sales was observed during Jan - March quarter and then discounts and various other promotional offers were provided to improve the same. The other quarters during September and December have huge sale increases due to the promotional offers given during the festival season.
Hence, the success rate considered due to sales promotions on weekends is quiet significant in line with the store's target which sets its incremental sale on weekends at 40%. Thereby showing significant rise up to 16% approximately, which shows that the store does consider sales promotion as a prime factor to increase sales during weekends on seasonal and upper level management's approval which happens often at Future Fashion
To conduct research and analyze the Effectiveness of the promotional tools and techniques & physical surroundings (situational factors) used at Future Lifestyle Fashion Limited (In-Store) to influence buying behavior.
4.1 PROBLEM STATEMENT
There are various Promotional tools available in-order to increase sale as-well as to clear stock on regular basis in order to replenish the store with new arrivals.
The choice of tools have to be appropriate considering the demographic aspects of the prospects and their attitude towards each promotional tools offered at the store level.
It is often an issue to identify the right tool to be utilized for diversified demographic population as the tastes and preferences of the consumers vary rapidly …show more content…
Further, placing the event promotions on the ladies floor only has reduced the reach of the event for both the genders equally.
Placing the event promotion on both floors with help of effective sign-ages, hoardings supported by effective gift vouchers on Fridays will improve the reach to a large extent.
Figure:10
Figure:11
5.7 CONCLUSION
The whole survey proves to be an effective initiative by the Future Group in order to study the customer responses on weekly basis rather than just taking a lump sum sample size for just a single period. The survey conducted across various periods helps study consumer behavior and responses in line with dynamic economic changes prevailing in the market.
Hence, refurbishing the strategy accordingly in order to make the event as successful as that of the Wednesday's Bazaar at Big Bazaar.
Though at the budding stage the survey does prove to be an effective tool as it has recorded significant positive results in reaching the event to the growth stage at the earliest by fine tuning the strategy according economic and buying behavior changes in the minds of the customers …show more content…
Further, financial analysis on an aggregate basis showed that for 'Central' the Jan - March quarter was dry sales period because offers were being given during June to restore normalcy. So, the March - June quarter indicates normal sales period. A dip in sales was observed during Jan - March quarter and then discounts and various other promotional offers were provided to improve the same. The other quarters during September and December have huge sale increases due to the promotional offers given during the festival season.
Hence, the success rate considered due to sales promotions on weekends is quiet significant in line with the store's target which sets its incremental sale on weekends at 40%. Thereby showing significant rise up to 16% approximately, which shows that the store does consider sales promotion as a prime factor to increase sales during weekends on seasonal and upper level management's approval which happens often at Future Fashion