From the explosive growth in stores of all kinds across the city, it would appear as though customers are completely clued onto the various formats and their offerings. However, I am plagued by doubts of how these blokes segment the market and target their core audiences. Especially since there are the retail pundits that wax eloquent on "Format Clutter". So I decided to embark on some serious consumer research, conducted in the fine climes of Bangalore, within the smoky confines of my favorite watering hole. Within my asking three "respondents", I realized that the truth was staring at me in the face. The segmentation variable to be used was not something as complex as demographic or psychographic parameters that my B School buddies would have me believe, rather it was something that my buddies from Lit school were always saying - "its all about language".
It was this stark realization that prompted this post. Now I understand the urge that sages and seekers have felt to share their realizations with the world at large. And I shall keep aside my mug and pen these lines on how the Hypermarket Operators need to view market segmentation (pardon my telecom legacy which forces me to call firms as operators, I mean no insult to those not operating and instead firming). Here goes...
Basically no customer has any damn idea what a Hypermarket is. Or rather, let me backup. There are various stages of knowledge about a Hypermarket across customers, and this becomes the primary variable for segmenting the market. The research methodology adopted was quite simple and highly repeatable. Basically, Show-Card customers various Hypermarket logo's and ask them "What is common to all these logos". Based on their answers as below, one can segment the market. What follows is the summary of the customer answer and their profile.
1. Hype-or-market - Used by those who try and mix formats, shaken not stirred...
2. High-per-market - Used by those who believe that Big Bazaar is fundamentally a mega con job
3. Hai-pair-market - Used by middle aged North Indian "aunties", who have walked from end of the store to the other and are facing acute feet-ache
4. High-pair-market - Used by confused category managers in search of the elusive combo promo bundle that will get them to their targeted sale
5. Hype-er-ror-market - Used by confused stammering guys from point 1 above
6. Hypermark-et - Used by Web Programmers using HTML trying to be cute
7. Hypermarket - Used by the French who have shopped or worked in Carrefour
8. "Oh Wal Mart" - Used by Americans who dont like the French (primarily because the Americans cant spell "Carfour")
9. "Oh Big Bazaar" - Used by jingoistic Indians who have surrendered their Airtel phone lines because they think Sunil Mittal sold out to Wal Mart
10. "Oh Spar" - Used by pseud guys who feel that paying more for goods is a reflection of their income levels
11. "Oh God" - Used by those who have read this post till this point
Signing out
The Monk (who sold his Ferrari, at the local Hypermarket....)
