PLANET M FINAL PPT

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A PROJECT ON :

A PROJECT ON Planet M 1 Planet M

PRESENTED BY ::

PRESENTED BY : Azeem Topiwala 058 Aejaz Choudry 009 Danish Khan 022 Janvi Mehta 116 Makdoom Mullani 037 Pranay Bajekal 004 Salman Bardi 005 Yaseed Shaikh 065 TYBMS 2 Planet M

WHY SELECT PLANET M?? :

WHY SELECT PLANET M?? Explore music retail industry and share the information with the class. Planet M is the best example selected by us among its competitors. The Indian Music Retail Scene is growing rapidly which made us explore this topic. 3 Planet M

MUSIC RETAIL INDUSTRY :

MUSIC RETAIL INDUSTRY 4 Planet M The music industry in the world is one of the fastest growing segments of the world economy. The total revenue from the music and movies and the related products have crossed the $350 billion in the year 2010 with a very impressive growth. The music industry across the globe can broadly be divided into three segments: creation, marketing and distribution.

MUSIC RETAIL INDUSTRY :

MUSIC RETAIL INDUSTRY Music artists create music, which is marketed and distributed by a network of record labels, distributors, retailers, broadcasters and DJs/clubs. In the domestic market the emergence of many organized music retailers like Music World, Planet M, Crossword, Odyssey and the online retailers have increased the competition in fast growing the Indian market with a host of products and services. 5 Planet M

PLANET M BACKGROUND:

PLANET M BACKGROUND Planet M is an Indian music retail store originally founded by The Times Group. It was sold to Videocon group for Rs. 200 crores in Nov 2007. The Planet M stores are mainly known for selling music and movies and related accessories. Planet M is also a new entrant for the Mobile retail, offering a wide range of mobile handsets with lucrative schemes. 6 Planet M

PLANET M BACKGROUND :

PLANET M BACKGROUND 7 Planet M Planet M, which was launched in 1999, has over 5.5 million annual walk-ins across its stores spanning 42 cities. The retail chain has a conversion rate of close to 40% and has been experiencing a compounded annual growth rate of 33% over the past four years. Planet M has 265 outlets across the country with 124 own stores and 131 satellite outlets. Planet M, a wing of Videocon Industries Ltd, is planning to set up 500 outlets, 75 of them in the metros, by the end of this financial year.

UNIQUE SELLING POINT OF PLANET M :

UNIQUE SELLING POINT OF PLANET M 8 Planet M Every type of music ( classical, religious, Bollywood etc..) under one roof. Target Audience involves people of all age groups. Other shopping materials like apparels, video games also available. Overall a good shopping and leisure experience for cusomers .

PRODUCT LINE OF PLANET M:

PRODUCT LINE OF PLANET M 9 Planet M Besides music, these stores will retail mobiles, Play Station gaming consoles, iPods, MP3 players, garments, slippers, stress balls and in-house brands such as T-shirts, Curtis, bags, caps, deodorants, sunglasses and more. Currently, Planet M has 250 stores across India, of which 50 are flagship stores (over 2,000 sq ft each), 25 are `super stores’ (1,000 to 1,500 sq ft each) and the remaining neighborhood stores (400 to 500 sq ft each).

LOCATIONS :

LOCATIONS Planet M currently has 250 outlets spread in some of the cities like: Pune 9. Chennai Bangalore 10. Lucknow Mangalore 11.Patna Mysore 12. Kochi Mumbai 13. Patiala Hyderabad 14. Jalandar Vijayawada 15. Jammu Vishakhapatnam And many more…. 10 Planet M

RETAILING OF PLANET M:

RETAILING OF PLANET M The retail chain Planet M is basically engaged in four type of product line of different type. Music retailing. Mobile and accessories retailing. Gaming and gaming products and accessories. Gift, greeting items and apparels. 11 Planet M

OPERATION OF RETAIL CHAIN :

OPERATION OF RETAIL CHAIN 12 Planet M The Planet M is basically a multi brand retail chain displaying products of different brands. In the music segment it offers music from all music producing companies in India as well as other regional music. The mobile phone retail business is another important part of the retailing business of the Planet M brand. In this segment all the major mobile phone brands are sold. More over other mobile accessories and gaming devices are also available.

OPERATION OF RETAIL CHAIN:

OPERATION OF RETAIL CHAIN 13 Planet M The other part is the gift items and apparels. They source the products from the contract manufacturers and sell them under their brand name. Most of them are third party applications and planet M is engaged in the marketing of these applications. Planet M sells all of these under its brand name solely.

OPERATION OF RETAIL CHAIN:

OPERATION OF RETAIL CHAIN 14 Planet M Planet M is a wholly owned company of the Videocon groups. It is positioned as a retail chain to leverage the gap between the groups other electronic retail shop Next and other appliance retail brands. Planet m has a very good presence in all the metros and the important cities through their retail chains. It operates both the wholly owned retail shops as well as the franchises in the market.

MARKETING STRATEGIES OF PLANET M:

MARKETING STRATEGIES OF PLANET M 15 Planet M In terms of the marketing products and the services the brand Planet M is very successful in the Indian context. 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.

7 P’S OF MARKETING:

7 P’S OF MARKETING 16 Planet M

1. PRICE:

1. PRICE 17 Planet M

2.PLACE:

2.PLACE 18 Planet M

3.PROCESS:

3.PROCESS 19 Planet M

4.PROMOTION :

4.PROMOTION 20 Planet M

5. PEOPLE:

5. PEOPLE 21 Planet M

6.PHYSICAL EVIDENCE:

6.PHYSICAL EVIDENCE 22 Planet M

7. PRODUCT:

7. PRODUCT 23 Planet M

MARKETING SUGGESTIONS:

MARKETING SUGGESTIONS 24 Planet M Increase the amount of print and television ads. Increase affiliation with top production houses in the market. Affiliate with different designers for different types of apparels. Have regular schemes and discounts to attract customers.

Outlet Forms:

Outlet Forms 25 Planet M At present in India 50 are flagship stores (over 2,000 sq ft each), 25 are `super stores’ (1,000 to 1,500 sq ft each) and the remaining neighborhood stores (400 to 500 sq ft each). In the big cities and the metros they have their wholly owned retail outlets with the floor area of 1500-2000 sq feet .

Outlet Forms:

Outlet Forms 26 Planet M The new stores will encompass three formats-Megastores covering more than 3000 sq ft including a theme cafeteria, Superstores that will cover about 1200 to 1500 sq ft and the neighborhood Planet M stores of between 300 and 500 sq ft. In small cities they have other tier II and tier III cities, they have franchises outlets.

COMPETITORS:

COMPETITORS 27 Planet M Planet M major competitors are retail biggies like Crossword, Landmark, Music World and Odyssey. The category consists of retailers of music, gifts, books, toys, etc against each other, evaluating them on parameters such as setting benchmarks in leisure retailing, and expanding the market and consumer base.

COMPETITORS:

COMPETITORS 28 Planet M CROSSWORD 2. LANDMARK 3. MUSIC WORLD

ONLINE COMPETITORS :

ONLINE COMPETITORS 29 Planet M 1. EBAY.IN 2. FUTUREBAZAAR.COM

FUTURE EXPANSION:

FUTURE EXPANSION 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’10. In addition to the present stores the company plans to increase the total number of its planet M retail stores to 1500 in the coming three years. 30 Planet M

FUTURE EXPANSION:

FUTURE EXPANSION 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 the Japanese electronic major Hitachi for the marketing of its products under the retail chain. The company also plans to introduce itself to the in the small cities with market opportunity. 31 Planet M

THANK YOU:

THANK YOU 32 Planet M

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