The price always 'Costs' Something, The question is how much are you willing to pay| Why BIG BAZZAR Was SOLD- 2020

Selling based on the price is like an addiction. In the short term they feel Fantastic but continue to do it for a longer time and it'll start harming you ……… 

In this era of fast fashion and trends there's barely a product or service on the market that the customers can't buy from someone else for about the same price, about the same quality, about the same level of service and about the same features. Even if the company is having the advantage of first comers it's lost in a few months. Even the novel goods get substituted. Within months someone comes up with a product similar to it or even better. 

In this situation there are only two ways one can influence human behavior. Either by Manipulating or by influencing. 

Manipulating and influencing both drives the customers to make a purchase but both are very different from one another. 

Typical Manipulating techniques include Price dropping, offers, using fear, peer pressure, promotion or promising innovation. [If you want to know more on this and how it harms you and I click here and check my previous blog to find out - SALE AND OFFERS might make you feel YOU'RE WINNING for Short period of time but You're Actually LOSING...KNOW WHY?....! ]

Companies love this price game because it is very effective. A certain price drop for a product can affect a huge boost in sales as it boosts the person's capability of purchasing the item aka Purchasing power and the customer's 'Consumer Fear' starts to play and active role. Pushing the consumer to purchase the product. 

But each time Companies or salesmen hold a Sale their profit margins go slimmer. With time the margin only reduces as there's a huge competition in the market that is trying to catch eyeballs of the same market segment. 

Selling in a massive scale becomes only way the companies and sellers can compensate this huge loss and they way to do it is again Price reduction. This is a continuous loop that goes on and on. Selling based on the price is like an addiction. In the short term they feel Fantastic but continue to do it for a longer time and it'll start harming you. 

I am reluctant in saying that price dropping causes business to incur loss but there's definitely no if's or but's about this being the 

hardest way to stay profitable in long term. 

Walmart has this certain fancy over applying this pricing strategy on each of their products but they did very well and they're one of the exceptions of the rule. 

Likewise in case of Big Bazaar( aka the Indian Walmart), Kishore Biyani(the founder of Big Bazaar) understood the importance of a hypermarket chain in India and they had been a household name since the establishment in 2001.They too adopted the same tactics that Walmart had. 

They both have made a remarkable business by playing the Price game. 

But what did it cost Big Bazaar? 

Well, the price always costs something but the question has always been "how much are you willing to pay?" ....... ! 

And in 2020, Big Bazaar got acquired by Reliance Retail, the retail division of the Reliance Industries in a sale transaction of ₹27,513 crores($3.38 Billion) . 

What comes in your mind when you hear BARACK OBAMA? 

POLITICIAN?? Of course! 

But I say he's a brilliant marketer! 

To know why I think that don't forget it check on the blog regularly. And if it's too hectic for you to check everyday do Subscribe- you'll get a personalised mail everytime I drop something here! 

 It'll be uploaded real soon! - Stay tuned. 

 Have a nice day! 

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                -A token of gratitude from the author

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