Future Group is a private company of Indian origins. It is a cost-conscious group that is associated with lifestyle and retail market dealing in diversified product portfolio like media, retail, logistics and insurance. Future Group offers a shopping experience for an entire family as its products are for every age-group. It has targeted the middle and upper-middle class section of society as its potential customers. Brand faces stiff competition from following rival companies-
- Reliance Retail
- Birla Group Retail
- K Raheja Corp Group
Product in the Marketing Mix Of Future Group :
Future Group is a conglomerate and offers efficient and quality service to attract a huge consumer base that believes in this group. Company is IT enabled and fully-integrated service provider and supply chain in Indian market to industries like
- FMCG and Food include accessories, footwear and apparels
- Hi-Tech and consumer electronics
- Light engineering and Pharma sector
It is a corporate group whose business is managed by the help of numerous operating companies and this is based on specified target areas. Hypermarket and supermarket retail chains like food Bazaar, Big Bazaar, are managed through Future Retail Ltd, whereas its subsidiary company Future Lifestyle Fashions manages fashion outlets like Central and Brand Factory. Financial services are operated by Future Ventures, Future General Life Insurance and Future Capital Holdings for internal services related to finance.
Product brand under Lifestyle and Fashion segment includes John Miller, Indigo Nation, Rig and under FMCG and Food includes Mera Swad, Ektaa, Fresh & Pure, Tasty Treat and Sach. Future Group has invested in computer technology and digital media for multimedia productions, designing, publishing and broadcasting. It is also a security-service provider and includes CCTV, Time-Attendance Systems, Alarm-Management Systems and Access-Control Systems.
Place in the Marketing Mix Of Future Group :
Future Group has spread its network in most of the town and cities in India. Its headquarters base is in Mumbai, India. It is helped in its endeavour through a capable network of estimated thirty-five thousand employees that serves the customers with high efficiency. Future Group also provides online services for bookings and delivery options. The future group serves its customers through its varied interests. Future Retail has its presence in nearly two hundred and forty Indian cities with retail space of more than 11 million square-feet.
The retail format is operated through multiple formats like hypermarket chain in Big Bazaar, convenient store in Easyday, a supermarket chain in Food Bazaar, a premium destination like Foodhall and single-stop roof like Home Town. FSCS or Future Supply Chain Solutions is an important subsidiary and provides consolidated, focused and strategic guidance and approach to meet the supply chain demands of its various companies through a widespread network including warehousing, multi-model transportation, distribution and container freight station.
Price in the Marketing Mix Of Future Group :
Future Group has positioned itself as a company that delivers everything needed to everyone irrespective of age or class. Diversified products are available under a single umbrella and that helps in increasing the volume of products sold. Everyday low and reasonable prices attract the mid-income level group on a regular basis and help in increasing its margins.
The company has adopted a reasonable pricing policy that makes its products attractive and affordable to its customers. Is Se Sasta Aur Accra Kahin Nahin is its famous tagline and defines its pricing policy in an apt manner as it offers quality products at lowest possible price ranges.
Promotions in the Marketing Mix Of Future Group :
In this evolving market, Future Group has high-brand equity. It believes in high-end promotional activities and in order to create positive brand awareness it has taken help of every available advertising tool at its disposal. Its ad campaigns are advertised in print media through newspapers, magazines and on hoardings, in electronic media through radio and major television channels and in social media through several portals and its own official website. All its outlets are heavily crowded during certain time periods like festivals because the brand offers high discounts and incentives to bring in more customers. This helps in increasing its brand visibility and maintaining its customer base.
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