A recent tragedy, just across my street ,makes me wonder what that actually meant to a lot of people.
Saravana Stores , a huge retailer in T.Nagar Chennai , caught a major fire early in the morning due to a short circuit . (One of the reasons I was perturbed was not because of the actual fire but due to the fact that , the whole area was kinda choked with police vehicles,fire engines ,road blocks and so on.)
It doesnt have any loyalty offers. They dont have frequent discount sales.They do not offer the best customer service or the “ultimate shopping experience” or the best quality products.
Despite all of that , they have managed to build a massive empire , as one of the biggest stores in Chennai offering everything from furnitures to clothes to jewelry
Not exactly defined as a hypermarket though , they have managed to create the impression of selling their products at the cheapest price ever possible.
Something what Wal-mart in the US has also achieved quite considerably
What these brands has successfully built upon over the past years , is a clearly defined target segment , a unique positioning and a hardcore loyal following and more importantly , an emotional bonding
One of the most definitive success factors for a brands to become sustainable over time is for people to have a emotional bonding and a unique position in their mind about the brand.
This is one of the same reasons which points out where Big Bazaar is failing.
Despite being a massive crowd puller , Big Bazaar has failed in creating a emotional bond over its customers.As long its the only hypermarket in town people would keep going to it. With the most horrible shopping experiences , poor services, and bad product qualities ,zero parking space Big Bazaar offers everything which you dont need in a hypermarket of that size
When Wal Mart ,Tesco or Spars comes in , I guess its jus a matter of time before people dump the Big B for the latter
And coming back to my main theme :
What brands would make me feel a lot if it goes out of business tom ?
1) Microsoft – I am totally addicted to its operating system and its Office Suite .
2) The Hindu – Not a day goes by without reading the Hindu
3) Google – A consistent solution provider for all my questions.
4) Philips – The best ever quality ,long lasting ,assured electronics company
None of the competing brands can ever replace these from my life.Cos they managed to create an emotional attachment , which possibly a Times of India ,or a Sony or as a matter of fact, Apple has completely failed to do so (Atleast for me !)