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Market Development Strategy for Shoppers Stop: Tapping New Markets with Existing Products

This document outlines a market development strategy for Shoppers Stop, focusing on leveraging existing products to penetrate new markets. By employing the Ansoff Matrix, we identify market development as a key growth category. The strategy includes an analysis of merchandise mix, pricing comparisons, and branding decisions based on the existing brand image while ensuring operational efficiency. By understanding target markets through parameters like population, income patterns, and competitor strategies, Shoppers Stop aims to enhance its market presence effectively.

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Market Development Strategy for Shoppers Stop: Tapping New Markets with Existing Products

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  1. PRIVATE LABEL“STOP” • Abhilashapaul • SunainaJhakkar • PuneetKhurana

  2. Ansoff Matrix for Stop Existing Products New Products Existing Markets New Markets Stop is going to grow by tapping new markets with existing products. It falls in the category of Market Development.

  3. Merchandise mix- STOP

  4. Merchandise Mix

  5. Perceptual Map Price (High) Casual Wear Formal Wear STOP! Price (Low)

  6. Price Comparison

  7. Branding Decisions by STOP!

  8. Branding Options Review (3M Model) • Existing Primary Brand • Secondary Brand

  9. Customers Benefits • Brand name, • Excellent quality • Affordable price for masses • Complete offer in one store

  10. How we will do it? • Existing Brand image of “Shoppers Stop” • Through operational efficiency, this has been the key success factor for Shoppers stop over the years. • Bargaining prices from suppliers. • Leveraging brand image of Shoppers stop.

  11. Average Selling Prices (Men’s wear) • Shirts • Super Premium: Rs 2323 • Premium: Rs 1478 • Medium: Rs 878 • Economy: Rs 457 • Low: Rs 317 • Trousers • Super Premium: Rs 2870 • Premium: Rs 1844 • Medium: Rs 1185 • Economy: Rs 548 • Low: Rs 355 Source: Images Yearbook, 2009

  12. Cities Source: Jones Lang LaSalle, 2008

  13. Source: Jones Lang LaSalle, 2008

  14. Source: Jones Lang LaSalle, 2008

  15. Parameters for Selecting Markets • Men’s Population • Income Patterns • Consumption Patterns • Competitors Strategy • Cities with Existing Shoppers Stop stores • Presence of Mbo’s like Ritu Wears, Max and Chun Mun

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