Mall Management

Learning Objectives Understanding the need and significance of managing a mall Describing the concept of Mall Management Explaining the various components of Mall Management Understanding the issues related to the mall management in the Indian context Elaborating the present status of Mall Management in India

Mall Management Defined Mall management is defined as an overall operation and maintenance of the entire building infrastructure, including the services and utilities, ensuring that they are used in a way that are consistent with the purpose for which it was acquired. Mall management encompasses operations, facilities management, security, accounts, common area maintenance, marketing, leasing and all the other functions even remotely related to a mall.

Components of Mall Management Positioning Zoning Promotions and Marketing Facility Management Financing

Implementing Positioning Strategy Step 1 Step 2 Step 3 Step 4 Identifying Possible Competitive Advantages (Competitive Differentiation) Selecting the Right Competitive Advantage Unique Selling Proposition (USP) Support the positioning strategy with a unique marketing mix (Implementation) Communicating and Delivering the Chosen Position (Communication)

Process of Creating Favorable Relative Position Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Step 7 Identification of target market Determination of needs, wants, preferences and benefits desired Examination of competitors’ characteristics and positioning Comparison of product offerings with competitors Identification of unique position Development of a marketing program Continuous reassessment

Issues Related to Mall Management Lack of Market Research/Feasibility Zoning Design issues Fee Promotional Activities Facility Management Lack of facilities with regard Parking Management Malls a novelty in Tier-II and Tier III cities

Mall Management Business Model Contract Model Revenue sharing model Partial revenue sharing model