Feasibility of Setting Up a Mall in a Commercial Area in Mumbai
BMS DISSERTATION
Is it feasible to set up a mall in a commercial area in Mumbai?
Abstract (Executive Summary)
Research Question: Is it feasible to set up a mall in a commercial area in Mumbai?
Scope of Investigation:
India is one of the fastest growing economies in the world. In this rapidly growing nation, there is a very large expected increase in the retail sector. Malls that are scientifically and aggressively campaigned contribute significantly to the retail sector. It was thus interesting to see if it is feasible to set up a mall in a commercial area in the financial capital of India, Mumbai. This Extended Essay narrows its focus down to one particular commercial area, Bandra-Kurla Complex. Bandra-Kurla Complex is an area developed primarily to arrest the concentration of office buildings and employees away from Greater Mumbai. To conduct this feasibility study I collected raw data in the form of questionnaires from the transient and working population in the region. However, if the sample did not adequately represent the population, then the deductions made are likely to be wrong. Paco Underhill’s books gave me sufficient knowledge on malls and mall culture. Using newspaper articles I was able to obtain an idea of the spending patterns of people in Mumbai. Specialised people in the field whom I interviewed threw light on areas overseen. Miss Sirat Ahmad helped provide financial information that helped conduct the financial analysis of setting up a mall. From the data thus collected and analysed, a reasonable idea of consumer needs, financial returns and chances of success was evaluated. At the end after an intensive SWOT analysis I came to the conclusion that although there is a huge element of risk in terms of financial investment and change in the external environment, the advantages clearly outweigh the disadvantages thereby making it feasible to set up a mall in a commercial area in Mumbai.
Word Count: 300
Is it feasible to set up a mall in a commercial area in Mumbai?
Abstract (Executive Summary)
Research Question: Is it feasible to set up a mall in a commercial area in Mumbai?
Scope of Investigation:
India is one of the fastest growing economies in the world. In this rapidly growing nation, there is a very large expected increase in the retail sector. Malls that are scientifically and aggressively campaigned contribute significantly to the retail sector. It was thus interesting to see if it is feasible to set up a mall in a commercial area in the financial capital of India, Mumbai. This Extended Essay narrows its focus down to one particular commercial area, Bandra-Kurla Complex. Bandra-Kurla Complex is an area developed primarily to arrest the concentration of office buildings and employees away from Greater Mumbai. To conduct this feasibility study I collected raw data in the form of questionnaires from the transient and working population in the region. However, if the sample did not adequately represent the population, then the deductions made are likely to be wrong. Paco Underhill’s books gave me sufficient knowledge on malls and mall culture. Using newspaper articles I was able to obtain an idea of the spending patterns of people in Mumbai. Specialised people in the field whom I interviewed threw light on areas overseen. Miss Sirat Ahmad helped provide financial information that helped conduct the financial analysis of setting up a mall. From the data thus collected and analysed, a reasonable idea of consumer needs, financial returns and chances of success was evaluated. At the end after an intensive SWOT analysis I came to the conclusion that although there is a huge element of risk in terms of financial investment and change in the external environment, the advantages clearly outweigh the disadvantages thereby making it feasible to set up a mall in a commercial area in Mumbai.
Word Count: 300
References: The Economic Times; 21st September, 2006; Sourced as “Indian Consumer Trends 2006: - The Knowledge Company”