After an exhaustive analysis, an expert team from the Indian Institute of Management, Kozhikode, (IIM-K), has devised a plan to revamp the marketing strategy of the Kozhikode-based Mahila Mall.
The overhaul plan is being drawn up under the Social Outreach programme of the IIM-K. The pro-bono study of the marketing model was shared with the authorities of the mall and the District Collector on Tuesday. It would be discussed among all stakeholders and is expected to be implemented immediately.
The proposed measures consist of both short-term and long-term plans.
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The short-term measures include innovative steps such as introducing biannual theme-based festival with the potential to grow into signature events, complete overhauling of the mall’s website to make it more dynamic and interactive, besides attractive membership offerings driven through marketing campaigns through display signage and social media.
The long-term plans offer valuable insights into the structural refurbishment of the mall to maximize the profits through space accessibility and strategic visibility. Several other initiatives, novel in nature, form a part of the shared plan and they expected to increase the footfall in the mall.
Debashis Chatterjee, Director, IIM-K, says overhauling of the mall has been topmost priority.
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“The IIM-K aims at providing logical and viable solutions. The makeover of the mall has to be sustainable. We are hopeful that the facelift of the mall will open ways for several other cities in the country and the world to initiate such offerings, he says.
To boost footfall
Deepa Sethi, chairperson, International Relations, and faculty in the area of Humanities and Liberal Arts, says the IIM-K team is confident that the plan would not only address the falling footfall, but also empower women entrepreneurs to overcome crisis situations to scale heights and make the mall a brand name to reckon with.
The mall is the biggest venture of any Kudumbashree self-help group and is stated to provide jobs to 250 women directly and 500 women indirectly.
The 36,000 sq feet mall of five storey boasts of branded outlets, a supermarket, restaurant, boutiques, footwear shops, beauty parlours, banks, outlets for imported gadgets, handicraft, babycare, electronics and home appliances.
Besides, it also houses conference rooms, training centres and underground parking facility.
However, the women entrepreneurs are experiencing dwindling customer numbers during off-season, resulting in an unsteady source of income.
This results in a financial crunch and difficulty in paying rent, electricity bills and the salaries of people employed in the outlets.