Multi Dimensional Approach to Brand Building - A Conceptual Model for Indian Retailers

Research Paper (postgraduate) from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: A, , course: Conference, language: English, abstract: Indian Retail Scenario: Organized retailing has exponentially emerged to contribute to the growth of Indian retail sector. It constitutes 3% of the total retail market and expected to grow at a rate of 42% in 2008. According to estimates provided by Technopak, organized retail in India is expected to receive investments of $25 billion, taking the size of modern retail to $75 billion by 2011. These investments imply that share of organized retail will grow from the present 3 % to approximately 15-18 % by 2011-12. With the onset of a globalize economy in India, the Indian consumer's psyche has changed. They are well versed with the concept of value for money, quality and service standards offered worldwide, in turn they are becoming more demanding. These demands are the visible impacts of the Indian organized retail sector. The evident increase in consumerist activity is colossal; it is replicated in money making recess for the Indian organized retail sector. Indian Retail is in the midst of a retail revolution, seen in sprawling number of malls developed from 50 operational malls in 2005 to 250 mall by 20083. Multiple formats have sprung up across different cities. City landscapes are dotted with malls and customers have problems of plenty as far as deciding shopping destinations is concerned.