Symbiosis Institute of Business Management, Hyderabad

Assignment

on

Retail Marketing

Submitted to

Mr. Ravi Padmanabhan

Submitted by
Anubhav Singh Tomar
PRN- 21021141026
MBA 2021-23

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 Table of Contents
Lifestyle Departmental Store................................................................................ 3
Overview .............................................................................................................. 3
Retail STP of Lifestyle ......................................................................................... 3
Retail marketing mix ............................................................................................ 4
Store Visit ............................................................................................................. 8
Store design .......................................................................................................... 8
Lifestyle store layout: ........................................................................................... 9
Visual Merchandising........................................................................................... 9
Daily Store Operation......................................................................................... 10

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Lifestyle Departmental Store

Lifestyle Departmental stores started its journey in India with the launch of its first Lifestyle
store in Chennai in 1999. Today it has evolved as India's leading shopping destination
synonymous with fashion and gracious living. Each Lifestyle store brings together five
concepts under one roof - Apparel, Footwear, Children, Homecare & Furnishing and Beauty
& accessories, offering a convenient one-stop shop for customers. Present across major metros
in India. Lifestyle is rapidly expanding its footprint across the country.

In the year 2005, Lifestyle launched its first specialized, stand-alone home improvement store
Home Centre. Home Centre is a one stop destination for furniture, homeware and soft
furnishing that truly represents style. comfort and individuality. The stores use unique 'concept'
rooms as the display model, to give consumers a practical idea of how each piece of furniture
would look in a particular room.

In keeping with the tradition of making every shopping experience even more rewarding and
memorable, Lifestyle introduced membership to the most privileged shopping circle in the
country - The Inner Circle. As a privileged member, every shopper gets to enjoy exclusive
benefits and privileges such as reward points and exclusive offers. The Inner Circle is today
recognized amongst the leading Loyalty Program in the country with an ever increasing base
of customers. The card is accepted across all landmark Group Stores in India including
Lifestyle, Home Centre, Max Fashion, Splash, Bossini, Auchaan Hypermarket, Krispy Kreme
Doughnuts & Gloria Jean's Coffees

Overview

Retail STP of Lifestyle

Segmentation

Market segmentation is defined as the division of a particular market into different segments
or sub markets according to different factors. The segmentation of market pends on various
factors: -

• Geographic factors
• Demographic factor

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 • Psychographic factors
• Behavioural factors

Geographic Demographic Psychographic Behavioural

Country: India 1. Age: 25-50 1. Middle class, 1. Occasions:
2. Gender: male & Upper middle Regular and special
Female class, Higher 2. Benefits:
3. Income: Rs. 2 2. Achievers and Convenient.
lakh and above strives economical and status
annual income 3. Ambitious and oriented
4. Occupation: authoritarian 3. Readiness stage:
College going Aware, interested,
youth and working intending to buy
population 4. Attitude towards
product:
Enthusiastic

Targeting

Targeting refers to a set of buyers sharing common needs or characteristics that the company
decides to serve. Target market is chosen after the segmentation of the markets.
Most companies realize that they cannot effectively serve all the segments in a market, and
must instead target their marketing efforts.

Target market of "lifestyle'

• Lifestyle targets Young, Urban, Contemporary, Chic
• The target market is the huge upper middle class and higher-class population.

Positioning
Positioning refers to the way the product is defined by consumers on important attribute. the
place the product occupies in consumer's mind related to competing products.

Positioning of "lifestyle"
Lifestyle is positioned as a contemporary, youthful, chic urban brand. with tag line as
"Your Style, Your Store"

The line aims to

• Build Affinity &
• Establish a strong connect with the Target Group.

Retail marketing mix

Product:
Lifestyle Stop has become one of the most happening retail outlets in India with a
diversified product portfolio. Its online website also offers each of its products that are

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available in its retail outlets. Lifestyle Stop offers products for men, children and women of
every age group and it includes

• Apparel – Shirts, skirts, dresses, jumpsuits, jackets, bottom wear, baby suits,
winterwear, pants, sportswear, swimwear, lingerie, nightwear, sarees, churidar suits, t-
shirts, jeans, cargos, trousers, blazers, short and kurta pyjama

• Accessories – Umbrella, reading glasses, diaries, pen, travel essentials, sunglasses,

scarves, clutch, wallet, handbags, watches, belt and cufflinks

• Footwear – Flip-Flops, bellies, wedges, platforms, heels, flats, boots, slippers, sandals,
casuals and formal

• Beauty products – nail polish, shampoos, make-up, moisturiser, scrubs, masks, hair
colours, perfumes, deodorants, shaving products, make-up tools, soaps, serums and
toners
• Jewellery – Fine jewellery, fashion jewellery, and artificial jewellery

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 • Toys – Dolls, infant toys, soft toys, musical instruments, board games, educational
games, cars, toy trains and blocks

Pricing

• Lifestyle has targeted upper-middle-class section of society as its target customer that
puts its onus on quality and style. It has set a high benchmark in the retail industry as
its policies have resulted in an increase in footfalls. Lifestyle has adopted a premium
pricing policy as it has been able to project itself as a high-end brand that deals in only
qualitative products.
• Its customers are willing to spend premium prices for premium products. Lifestyle has
also adopted a promotional pricing policy and offers incentives like summer and
winter sale to increase its customer base as well as sales volumes in order to garner
larger revenue figures.
• Lifestyle now has an ‘accessible fashion’ positioning, and caters to upper-mid segment
consumers across cities. Over the years, it has worked on private labels to introduce
sharper price points, such as men’s denims starting at Rs 999 and kids’ denims at Rs
599.

Place

• Lifestyle has a Pan-India presence as it has spread its network to most parts of the
country. It has its headquarters base at Bengaluru in Karnataka. Lifestyle Stop started
its operations by opening its first outlet at Chennai and since then has spread its
presence to include 77 stores in 44 cities like Kolkata, Chennai, Jaipur, Noida, New
Delhi, Bangalore, Bhopal, Amritsar and Aurangabad.

• Lifestyle has joined the e-commerce industry with delivery options at important Indian
cities. As part of its omnichannel strategy it in the year 2019, February launched its
mobile application to garner a larger customer base. Lifestyle has a strong distribution
channel that includes services of an established management team and skilled
workforce for both direct and indirect dealings with its customers

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Promotion

• Lifestyle also runs a loyalty program called "InCircle" which has nearly 9 lakh people
data which can be used later for data mining and promotions.
• 60% of customers who shop at lifestyle are loyalty card holders and 40% non-loyalty
card holders. This makes customer relationship extremely crucial for lifestyle
• Lifestyle has adopted both ATL and BTL marketing strategies to promote its brand in
the consumer market. It has also implemented Interactive as well as Guerrilla marketing
to increase brand awareness. Lifestyle has launched several ad campaigns and
promotional policies with help of electronic, digital, print and social media platforms.

• Advertisements are shown on popular television channels, newspapers, magazines, and

hoardings, Twitter, Facebook and YouTube to garner maximum exposure. Lifestyle
also offers periodic discounts and gift vouchers to attract further sales at regular
intervals

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Store Visit

Lifestyle
Inorbit Mall
64, Inorbit Mall, Apiic Software Layout,
Cyberabad
Hitec City
Hyderabad - 500081
Opposite I Labs
18001231555

Open until 09:30 PM

Store design

• On the Ground floor (Lifestyle concept, women western wear and bags section).We
learnt about various brands like 109°F, CODE (Private label), Van Heusen, ONLY,
Allen Solly, Ginger(Private label), UCLA(Private label), Kappa (Private label), Levi’s,
Lee. Bossini(Private label), UCB, Vero Moda, Fame Forever (Private label)

• On the 1st floor. the complete floor is dedicated to Men's apparel. It has some renowned
brands like Tommy Hiliger, Jack & Jones, Being Human, Arrow Sports, US Polo and
various in-house brands

• On the 2nd Floor(women western wear, Shoe Mart Concept and Kids section) Shoe
Mart is one concept which includes Footwear, Bags and Wallets. It is the most labor
intensive floor space.

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 • Ground floor has 5 cash counters. Only 3 are open on weekdays and all 5 are open on
weekends. Rest of the floors has 4 cash counters. Only 2 are open on weekdays and all
4 are open on weekends.

• Every brand has mannequins placed, dressed in the theme of the season as every private
label has themes for every season. Ginger has their current theme as "Tropical"
welcoming their latest summer collection.

Lifestyle store layout:

• Racetrack layout: The racetrack layout is a loop that takes customers through the store
in a large perimeter. This layout typically features a centre display and an array of
shelves or racks on the walls. The racetrack layout can be an effective design in stores
that benefit from showing the customers its entire inventory.

Visual Merchandising
• The navigation in the store is easy and not cluttered.

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 • Store Atmospherics like scent, music, lighting is used carefully to attract customers.

• A theme is built around the current collection and season and the whole décor including
the mannequins are suitably changed.

• Areas like walls, free standing fixtures, end caps, PoS are used to display merchandise
efficiently.
• Signages are put up in the store to guide customers.

Daily Store Operation

• Lifestyle sales person always follow the Planogram for displaying the merchandise.
• Every Merchandise is placed as per "Range plan and Planogram" shown in the picture.
These planograms are prepared at the head office in Bengaluru.
• Every day Business Manager browse through the whole store to verify whether
merchandise is in place or not as per Planogram.
• Every day Inward and outward processes takes place in the morning.
• Every morning there should be 3 people present to open the store, namely
1. Store Manager
2. Security Head
3. Inventory Manager.
• Inward Process is done to replenish the stock every day.
• Outward is done to remove old stock STL (Stock Transfer List) is verified on any inward and
outward.

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