Updated: Jan 31, 2020
In this blog, we are going to know about the king of retail business Mr.Kishore Biyani who is a founder of the retail stores Pantaloons, big Bazar and CEO of Future group. He is one of the smart businessmen who have a great vision. His story is quite inspiring for many upcoming businessmen. He was born in 1961 at Mumbai. His family was into trading textiles where the growth and margin were very less. Initially, he used to work in his family business but he came out as his family used to do more calculations and take less risk. He started branding his own clothing fabric. Kishore Biyani now owns a future group that consists of Big Bazaar, Pantaloons, Brand factory, Food hall, and many more ventures. The future group has a notable presence in FMCG and fashion stores and has many retail outlets. To know more about future group click on the below link.
You will be knowing amazing marketing strategies that Kishore Biyani has used in his business and career. As per Forbes, the net worth of Kishore Biyani is 1.78billion dollars. As per Kishore Biyani, the definition of entrepreneurship is to take big decisions, more risk, to be a good leader and fulfill his team’s dream. He did many businesses and experiments, roamed around India for 6 months to understand customer’s behavior and finally reached Saravan stores Chennai. After 15 years, he got a proper idea of a retail store and then opened Big bazaar. He used to sell fabric by the brand name WBB and he wanted value addition on the same. He added value by making readymade pants with that fabric The dealers informed that no one will buy readymade pants and everyone wants to stitch. He thought of branding on his own and he opened his own store outside Railway terminus central and named it Patloon which now became Pantaloons that stocked big brands like John Miller. He also tested the success and footfall of WBB fabric in a cheaper way by putting a small stall next to a tea vendor near a hotel. He slowly improved his business and created a brand of his own. If you are new to the business and want to know how to establish your brand in the market.
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Mr.Kishore Biyani is a very smart businessman. He always used to test any business idea and then take a bigger risk. Let us now understand the five marketing secrets of Mr. Biyani.
Secret No 1: Patriotism
Kishore has learned from Sam Walton the CEO of Wallmart that store value will always depend on the country’s values and culture and followed the same. Sam Walton always branded Wallmart as made in America. Kishore Biyani also used Indian touch in his stores as there will be a huge impact in every individual’s subconscious mind about the Nation.
If we talk about our nation people will accept. We got most of the stories and content that has been mentioned in this blog from his book “ It happened in India “. He has mentioned his country’s name even in his book and it is one of his notable works. Even his second secret is connected to the first one and the other one is :
Secret No 2: Bring a local Connect
He took Sam Walton’s advice very seriously and took further by connecting the stores not only to the National level and used to connect to the regional level where ever he opens his store. He opened his first store Pantaloons in 1997 in Calcutta but not in his home town Mumbai as the rent and competition were less in Calcutta. Kishore‘s line what Calcutta thinks today India thinks tomorrow became very popular in Calcutta as there are many thinkers, scholars, and artists. They thought that Kishore Biyani belongs to Calcutta and the first-day profits from the sale were so huge that SBI was not able to count the cash. Local connect became strong with one line.
Secret No 3: Expensive Shop Image
Customers think twice before entering any shop which looks expensive from outside. He came to know this when he has done research on Dharavi. He divided India into 3 parts India 1, India 2 and India 3. India 1 is a consuming class, that consists of the rich and upper-middle-class of 14%. India 2 serving class that consists of middle and lower-middle-class of 55%. India 3 Struggling class with people near the poverty level with 31%. He came to know from his research that India 1 and India 2 never shop together as India 2 thinks that India 1 Shops are very expensive. That is the reason that he made the outer look and feel of big bazaar, Pantaloons and brand factory simple so that the people of India 2 would come inside and shop. Later he made many tempting offers and discounts that people were not able to leave.
It is very important for any business to understand customers and design a marketing strategy to attract them. Mr. Kishore Biyani was successful as he was able to understand the customers and made a business plan as per their requirements. One more classic example of business success is One plus. They always tried to be closer to the audience and planned their marketing strategy. To know more about Oneplus success, click on the below link
Analysis Of One Plus Case Study - Click Here
Secret No 4: Culture Cather
The main focus of Mr.Kishore Biyani was on the customers that will depend on their culture. He studied his mother who used to buy loose pulses and rice. He also started seeling loose pulses and rice in big bazaar. They have even started making live atta so that people can buy wheat and grind it to atta. This is how he improved sales. He learned the culture of all the places and he started an exchange offer of taking old jeans and buying new jeans where ladies used to sell old clothes and buy utensils. There were big ques for the exchange offer. He then introduced an offer that they can exchange any household items and get a coupon for RS 25. They can buy for 100 and get 25 rupees direct discount. This has worked out really well as he was able to understand the culture. An Entrepreneur should catch the culture but should not try to start a new one as it will take a long time to start but it is not impossible. Culture catcher means to catch the culture but not to make. You can also make a culture but it would require a lot of energy, time and money. So it is always better to catch the culture. Learn from Kishore Biyani to catch the culture and make offers basing on the culture.
Last and final secret of Mr.Kishore Biyani is Secret No 5: Smart Display
He has divided pantaloons store by categories and not brand-wise from which he got useful information. when he divided store by categories like formals, casuals, party wear he was able to understand customer’s movement, behavior, and buying pattern. He was able to understand customer’s preferences as per the seasons. He was able to take proper decisions basing on this valuable data and gave good offers to the customers and the sale of Pantaloons also improved. In smart display do a visual merchandising .you should make your store so that customers should feel like buying even westside has followed the same. Visual merchandising is very important to attract customers and it makes customers take decisions easily. If you want to know how to arrange your store and improve business follow the below tips provided in the link
You can also improve your business by following the marketing secrets of another business legend Mr.Darsheel Patel, CEO of VINI cosmetics FOGG, that gave tough competition in marketing war to big brands like HUL, AXE. He started his business by understanding the customer’s needs. He always used to do market research before implementing his business ideas. All the marketing secrets and techniques are shared in this blog. Click on the below link to know more about him.
Best Marketing Strategy by Jitesh Manwani - Click Here
Business can be successful only if the products and services are made as per customer’s requirements. Understanding customers and effective marketing is the key to business growth. An entrepreneur should be smart enough to market to study the market and promote their products in an economical way. There is no need to spend lakhs of rupees in advertising and follow smart methods of marketing products. Keep your business updated and make changes as per the latest trends. If you want to know more about how to grow your business, click on the link .
You would definitely achieve success if you follow the techniques mentioned in the blog. Make a plan to cut costs, improve business and earn profits. There are many reasons for the success of the business, if you follow a proper branding, plan a better strategy and maintain a good relationship with the customers, then it will be very easy to grow in any field.