Experiential ratail on OTOBI ltd.
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After getting the four years theoretical knowledge in BBA it is very interesting to match with the practical experience. And this Understanding practical implications and applications is the next step in the learning process after studying the theoretical concepts of a particular topic. This report is on the Experiential Retail of a well-known business organization “Otobi” which is the first Multinational Company in Bangladesh. In writing this report I came to know about different facets of Retail business and creating the brand equity about the Brand “Otobi”. In recent years, discussions on the growing economic importance of experience-based consumption have become a dominant theme in literature where consumer preferences are of concern. An increased focus on experiences is also evident in the retail sector of Otobi as it has been suggested that it is important to create emotionally engaging experiences for in-store consumers. Several research articles concerned with ‘‘experiential retailing’’, ‘‘entertaining experiences’’ ‘‘entertaining and shopping entertainment’’ have also been published in recent years. However, whereas the focus on experiences is widely spread, in practice as well as in theory, knowledge about how to induce the experiences referred to is rarer. In our country, only a handful of organizations have proper concern about “Experiential Retail” and most of them are multinational organizations. Among the few organizations, Otobi is alleged to have one of the most outstanding and modern methods for Experiential Retail as a local brand. I tried to know about the existing established policies, methods and actions of Otobi specially their actions oriented to different marketing activities and approaches to establish themselves as a renowned brand locally and internationally. After that I tried to find out the actual practices for Otobi. Then evaluated and discussed the findings along with the established actions of Otobi to show the similarities and contrast between theories and practices.