After an exhaustive and in-depth analysis, an expert team from Indian Institute of Management Kozhikode (IIMK) has devised to revamp and restructure the marketing strategy of the Kozhikode-based Mahila Mall.
The overhaul plan is being drawn up under the Social Outreach Programme of the IIMK. The pro-bono study of the marketing model was shared with the authorities of the mall and with the District Collector on Tuesday. The submitted plan would be discussed between all stakeholders and was expected to be implemented immediately, a statement said here.
The proposed measures prepared by the expert team of IIMK consists of both short-term and long-term plans. The short-term measures include innovative steps such as introducing bi-annual theme-based festival with the potential to grow into signature events, completely overhauling of the mall’s website to make it more dynamic and interactive, along with attractive membership offerings driven through marketing campaigns suggested for conventional methods such as display signage as well as social media.
The long-term plans offer valuable insights into the structural refurbishment of the mall to maximize profits through space accessibility and strategic visibility. Several other initiatives, novel in nature, are also a part of the shared plan. The intended implementation of the proposed plan is expected to increase the footfall in the mall.
Debashis Chatterjee, Director, IIM Kozhikode, said overhauling of the mall had been topmost priority. “The IIMK aims at providing logical and viable solutions. The makeover of the mall has to be sustainable and our plan is intended towards the same objective. 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 said.
Deepa Sethi, chairperson, International Relations and Faculty in the area of Humanities and Liberal Arts, said the IIMK team was confident that the plan would not only address the falling footfall, but would 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 square feet mall of five storey boasts of branded outlets, 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, women entrepreneurs, who enjoy a sizeable footfall during festive season and exhibitions, are experiencing dwindling customer numbers during off-season, resulting in an unsteady source of income for participating women entrepreneurs and outlet owners. This is resulting in a financial crunch and difficulty in paying rent, electricity bills and the salaries of the people employed in these outlets.