Investment Habits of Working Women

Consumer Behavior Project INVESTING HABITS OF WORKING WOMEN IN BHUBANESWAR:
ABSTRACT
As the title of the project suggest, it is all about the study of the investment habits of working women in Bhubaneswar & the aim of the study is to find out the cause of such behavior. The number of working women is consistently increasing in
Bhubaneswar. It is seen that working women, as a growing segment of the population, is increasingly becoming more aware of financial services and the various investment options that are available in the market. The women now in the upcoming Tier-2 & Tier-3 cities are becoming more independent and responsible. They want to secure their future and want to make more returns on their investment. Their thinking and perception is changing and they are more likely to take risk and adapt to the features of various financial services products. Thus, participation of women in capital market related investments has given an all together new segment to the financial sector, which is growing very steadily. With this project I get an opportunity to meet women, working in various sectors in the city of Bhubaneswar & analyze their investing behavior & patterns. 1 Abhisek Mitra, U408001
Consumer Behavior Project
LITERATURE REVIEW
Financial services in India http://www.mumbaispace.com/financialplanning/financialservices-in-india.htm In last few years, India has emerged as the one of the most rapidly growing economies in the world. India has been categorized with nations like Brazil, Russia and China (BRIC Nations) who are going to be the prime drivers of world economy in next few decades. Since the time, India first opened its gates to foreign investment (FDI & FII), there has been a complete turnaround. Now the traditional Hindu rate of growth is a thing of past and clocking 8%-9% GDP growth rate is the common norm. India along with other Asian powerhouse China makes for the fastest growing nations in the entire world. Even if we take the case of ongoing global recession, India has managed to perform far better than other nations. Right from banking system to financial regularities, the country has thrived on discipline and out-performance. The booming Indian economy resulted in widespread growth and arrival of new industries. The most sparkling phenomenon is in form of financial market of India.
2 Abhisek Mitra, U408001

Financial services in India has taken a giant leap from the days of standing in banks queue for several hours for opening a saving account or trying to get some fixed deposits (FD) done. The financial services have increased manifold and now people have the choice to choose the one that most suitably fits the bill.
There are several services like broking firms, investment services, financial consulting, evergreen national banks, numerous private banks, mutual funds, car and home loans, equity market and other banking services. Services are many and offered by blue chip names of the industry. Most of the companies in financial segment offer taxation services, project consultancy services and all the services of wide financial gamut.
Whether its taking a car loan or booking your favorite house, going for pension plan or getting your child insured, numerous attractive financial services are available at affordable COST. Personal banking services have acquired an altogether new meaning. Now customers have multiple choices to choose from. One can find all the financial services on the internet that are just a call away.
What is investment? http://en.wikipedia.org/wiki/Investment Investment is the commitment of money or capital to purchase financial instruments or other assets in order to gain profitable 3 Abhisek Mitra, U408001

returns in form of interest, income, or appreciation of the value of the instrument. It is related to saving or deferring consumption. Investment is involved in many areas of the economy, such as business management and finance no matter for households, firms, or governments. An investment involves the choice by an individual or an organization such as a pension fund, after some analysis or thought, to place or lend money in a vehicle, instrument or asset, such as property, commodity, stock, bond, financial derivatives (e.g. futures or options), or the foreign asset denominated in foreign currency, that has certain level of risk and provides the possibility of generating returns over a period of time. In an economy, people indulge in economic activity to support their consumption requirements. Savings arise from deferred consumption, to be invested, in anticipation of future returns. Investments could be made into financial assets, like stocks, bonds, and similar instruments or into real assets, like houses, land, or commodities. The three aspects of investment: the various options available to an investor in financial instruments, the tools used in modern finance to optimally manage the financial portfolio and lastly the professional asset management industry as it exists today. Returns more often than not differ across their risk profiles, generally rising with the expected risk, i.e., higher the returns, higher the risk.
Background of Bhubaneswar City & its demographics 4 Abhisek Mitra, U408001

http://en.wikipedia.org/wiki/Bhubaneswar Bhubaneswar is the capital and the largest city of the Indian state of Odisha. The city has a long history of over 2000 years starting with Chedi dynasty (around 2nd century BC) who had Sisupalgarh near present-day Bhubaneswar as their capital. Historically Bhubaneswar has been known by different names such as Toshali, Kalinga Nagari, Nagar Kalinga, Ekamra Kanan, Ekamra Khetra and Mandira Malini Nagari. The largest city of Odisha, Bhubaneswar today is a center of economic and religious importance in the region. Its proud possession of magnificent sculptures and architectural heritage, coupled with the sanctity as Ekamrakshetra make this one of the great religious centres of Odisha since early medieval days. With its large number of Hindu temples (over 600 in number), which span the entire spectrum of Kalinga architecture, Bhubaneswar is often referred to as a Temple City of India. Together with Puri and Konark and, Bhubaneswar forms the 'Swarna Tribhuja' (the 'Golden Triangle'), one of the most visited destinations in East India. The modern city of Bhubaneswar was designed by the German architect Otto Knigsberger in 1946. It is one of the cleanest and planned city of Modern India, after Chandigarh. The city is surrounded by dense canopy of forests, picturesque Chandaka and the Nandankanan; this along with an abundance of in-city greenery and an efficient civic body (the BMC) makes it one of the cleanest and greenest city of India today. Bhubaneswar replaced Cuttack as the political capital of the state of Odisha in 1948, a year after India gained its independence from Britain. Bhubaneswar and Cuttack are together known as the "twin cities" of Odisha.

The metropolitan area formed by the twin cities has a 2008 population of 1.9 million and The World gazetteer estimates the metro area population as 1,666,429 making it the 22nd largest urban centre in the country. Bhubaneswar comes under the category of tier 2 cities of India. It is an emerging IT hub and one of the fastest developing cities of India in recent years. It is also characterized by the emergence of various other service industries, complementing the growth in the mining sector & the steel & alluminium industries in the state of Odisha. As per the census, Males constitute 56% of the population and females 44%. In 2001, the city had an average literacy rate of 79%, higher than the national average of 65.4%. 10% of the population is under 6 years of age.
Saving Habits Of Women Need Empowerment http://gpbaroowah.blogspot.com/2010/01/saving-habits-of-women-needs.html During Twenty-first century more women are working than twentieth century. Now a days women are heading organization like Coco cola, HSBC banks HDFC banks and also insurance companies. Many women have become successful lawyers, Doctors, advocates and teachers. With women occupying such senior position it is natural for them to save more and more. But it has not happened. In a survey recently conducted it was revealed that women are more of a spender than saver. Women spend more for the family than on her self. But this habits needs to be reversed. Because in a family children idolize the mother rather than the father. They keep the father in high esteem no doubt but children are 6 Abhisek Mitra, U408001

generally scared of father and friendly with mother. Sons are closer to mother and daughters are closer to father is a myth really. Why women spend more money than the saving. This emanates from the feeling that she is natural guardian of the family. Any shortfall in the budget and life style is picked up by working mother than the father. Even in the office, it is found that female employees dont hesitate to buy Tiffin for colleagues compared to male officers. Many studies have shown that women lag behind men in saving for retirement. In a 2008 survey of more than 1,300 workers or retirees over age 25 by nonpartisan Employee Benefit Research Institute (EBRI) and Matthew Greenwald & Associates, 68% of women and 76% of men said that they "had" saved for retirement; 59% of women and 70% of men said they were currently saving; and 58% of women and 64% of men said they were contributing to a workplace retirement account. Two recent studies of participants in large-company plans show similar results. This is not only the case in India. Even in America women save lower than men folks. The Vanguard, a mutual fund company that also manages retirement plans in USA, reported that in 2007 the average account balance of more than three million participants in their 401(k) plans was $56,723 for women, compared with $95,447 for men. More recently, Hewitt Associates consultants surveyed nearly 2 million participants in large-company 401(k) plans the company manages and found that women had an average of $56,320 in their accounts, compared with over $100,000 for men. This is the time our society need to empower women so that they can save better for the rainy days. Working single women need to think specifically about saving habits. The saving in banks or in Government plans are safest option but it would not support them fully due to inflationary pressure. Women who 7 Abhisek Mitra, U408001

could manage their monthly budget with Rs10000 per month a decade back are finding it most difficult to carry on unless they can earn more than double the amount. This is the effect of inflation.
The potato which used to cost Rs 3 a kilogram then is now costing Rs 28 a kg. What is the way out? If she would have kept all the saving in Nationalized bank her money would have been safe alright but now she would have to depend on borrowed money or depend on the alms of others. Fortunately she kept a portion of her money in mutual fund that gave her a return of 25% of money saved. Every single women and single mother must keep it in mind that safe keeping of asset is not enough. The asset must be capable of providing inflation adjusted return for at least twenty years. What should women do? They need to invest and save early and judiciously. Where women need to invest? The investment in EPF is a must. Those who do not have EPF they should start saving PPF surely from the beginning of their career. PPF can be started with Rs 500 per annum. Investment in PPF would not be enough. To beat the inflation it would be mandatory for a person to invest first in Mutual fund. Investment in mutual fund is not as safe as the bank fixed deposit. But women must learn to take little risk in case they want to lead a satisfying life style through out their life. Which are the mutual fund they need to select and how long they need to keep investing? It would be prudent to study investment journals. Many may not be able to do so. In that even they need to approach a well-known bank. The banks have their own investment desk. SBI has their own persons. Similarly Standard Chartered has their own investment advisor. These advisors may be able to guide new investors. I would highly recommend that all investor should try to study the website of Money control.com and value research .com. and invest in four star and five 8 Abhisek Mitra, U408001

star mutual funds. Any women above forty-five years of age should be able to reduce the risk buy avoiding full diversified equity funds. They need to subscribe at least sixty percent of their saving in debt fund. Alternatively they can opt for balanced fund so that risk can be divided. Single mother has greater responsibility towards their children. So it would be prudent to subscribe to insurance policies so that their children are not handicapped in case of emergent situation. The education and marriage are two important components of life. In order to sail smoothly single mother must plan for correct ULIP policies. In India great ULIP policies have started of late though they are costly compared to investment plans of mutual fund. ULIP policy should be subscribed after learning the details of the plan. Each policy tries to be different. Being different is not the solution. It should be cost effective for women folks.
Objective of the Study

This project focuses on determining the various investment habits of working women in Bhubaneswar city, with regard to various age groups, income potential, savings, knowledge, purpose & objectives of investment.
Research Methodology
Research methodology is the system of collecting data for research projects. The data may be either collected for theoretical or practical research. Some important factors in research methodology include validity of research data, ethics and the reliability of measures. Formulating of research questions along with sampling, weather probable or non probable, is followed by measurement that includes surveys and scaling. This is followed by research the design, which paper, may be either is organized experimental or carefully into quasigraphs experimental. The last two stages are data analysis and finally writing research which and tables so that only important relevant data is shown. This research study involves understanding of the investment pattern of working women in Bhubaneswar through interaction with them and 10 Abhisek Mitra, U408001

discussing their habits and thinking about investment in various investment options. Research Design Research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. Research design is the conceptual structure within which research is conducted & constitutes blue print for collection, measurement and analysis of data. Process of the Study I have done this study mainly by visiting various service sectors present in Bhubaneswar, where women are employed (As Bhubaneswar is predominantly a city where maximum population is engaged in services) & by discussing with them about their investment preferences. Also I have referred to some reading materials & articles on this subject & have collected some data from the internet. My entire project has been divided into three parts: 1.) Conducting market research in various parts of the city to get an idea about the investment pattern. 2.) Determining the perception of working women & gathering their views or satisfaction level regarding different investment options. 3.) Identification of the factors responsible for such investment behavior as discussed. Type of study My study is an Empirical Research. Empirical Research is practical and data based research. What ever I have done here relies on the

experience and observations mentioned. Lastly, the conclusions which I have come up with are capable of being verified. Sampling method This research is based on the Non Probability Quota Sampling Method & the data is collected through random sample. Data Sources I have collected the data through both the primary and secondary sources. Primary data was collected through visiting various service sectors where women work and secondary data was collected through website and articles. Data Collection Method The data has been collected through a personal survey. The disadvantage of this method is that information may not be even reliable. Research Tool In this project I have used questionnaire as the research tool. Questionnaires usually offer respondents confidentiality and anonymity to dispel any reluctance about self-closer. Hence, after dividing the city into zones, the target audience was probed using Interviews and Questionnaires. These Questionnaires were later analyzed to draw the conclusion. Sample size Sample size has been taken 100. Sample Unit 12 Abhisek Mitra, U408001

Bhubaneswar City.
Data Analysis
OBSERVATIONS FROM THE FREQUENCY TABLE In my survey of Investment habits of working women in Bhubaneswar, I have taken 100 data samples & have interviewed them with the help of my questionnaire. Then I have entered the data in SPSS & analyzed it through FREQUENCY TABLE. The findings are as follows:1.)OCCUPATION GROUP Frequen cy 63 6 23 8 Perce nt 63 6 23 8 Cumulative Percent 63 69 92 100 13 Abhisek Mitra, U408001
Valid
service business profession al Others

Total 100 100
occupation frequency chart

70 60 50 count 40 30 20 10 0 service business professional others occupation Frequency
From the above table, I observed that out of the 100 samples of data that I have collected, the MAXIMUM sample (i.e. 63%) lies in the OPCCUPATION GROUP (SERVICE). Rest (i.e. 37%) lie in the rest occupation group i.e., (business, professional & others). 2.)Annual Income group Frequen cy 2 28 46 16 8 100 Perce nt 2 28 46 16 8 100 Cumulative Percent 2 30 76 92 100
Valid
Below Rs 1lakh Rs 1-3lakh Rs 3-5lakh Rs 5-8lakh above Rs 8lakh Total

annual income chart
50 40 count 30 20 10 0 below rs 1 lakh rs 1-3 lakh rs 3-5 lakh rurees rs 5-8 lakh above rs 8 lakh Series1
From the above table, I observed that out of the 100 samples of data that I have collected, the MAXIMUM sample (i.e. 46%) lies in the INCOME GROUP (RS 3-5 LAKH). The next majority lies in the group 1-3lakh (i.e. 28%). Rest (about 26%) lie in the rest income groups.
3.)SAVING GROUP Cumulati ve Percent 13 59 92 98 100
Valid
Below Rs 25 thousand Rs 25 thousand-50 thousand Rs 50 thousand-1lakh Rs1-3lakh Above Rs 3lakh Total
Frequenc Perce y nt 13 13 46 33 6 2 100 46 33 6 2 100

saving chart
50 40 count 30 20 10 0 below Rs Rs 25thous- Rs 50thous25 thousand 50 thous 1 lakh rupees Rs1-3 lakh above Rs 3 lakh Frequency
From the above table, I observed that out of the 100 samples of data, the MAXIMUM sample (i.e. 46%) lies in the SAVING GROUP (RS 2550 thousand). Among rest next highest being the saving group of Rs 50 thousand-1lakh with 33% frequency & the balance spread across other savings group.
4.)AGE GROUP Frequen cy 60 28 11 Percen t 60 28 11 1 100 Cumulativ e Percent 60 88 99 100
Valid
20-30 yrs 31-40 yrs 41-50 yrs Above 51 yrs 1 Total 100

age chart
70 60 50 count 40 30 20 10 0 20-30 yrs 31-40 yrs years 41-50 yrs abov 51 yrs e Frequency
From the above table, I observed that out of the 100 samples of data, the MAXIMUM sample (i.e. 60%) lies in the AGE GROUP (RS 20-30 YEARS) and 28% lies in 31-40 yrs group and rest 12% lies in other age groups. 5.)PERCENTAGE OF WOMEN DOES INVESTMENT Frequen cy 11 89 100 Perce nt 11 89 100 Cumulative Percent 11 100
Valid
No Yes Total

Investment chart
100 90 80 70 60 50 40 30 20 10 0 no yes
count
Frequency
From the above table, I observed that out of the 100 samples of data that I have collected, the MAXIMUM sample (i.e. 89%) are working women who invest, and 11% do not invest. 6.)PURPOSE OF INVESTMENT: REGULAR MONTHLY INCOME Frequen cy 61 39 100 Perce nt 61 39 100 Cumulative Percent 61 100
Valid
No Yes Total
monthly income as a purpose chart

70 60 50 count 40 30 20 10 0 no yes Frequency

From the above table, I observed that out of the 89% investing working women, the MINIMUM sample i.e. 39% of working women invest money with a purpose of regular monthly income and totally protect the value of savings and 61% dont have this as their basic purpose. 7.)PURPOSE INVESTMENT Frequen cy 65 35 100 Perce nt 65 35 100 Cumulative Percent 65 100 OF INVESTMENT: STEADY RETURNS FROM
Valid
No Yes Total
steady return as a purpose chart

From the above table, I observed that out of the out of the 89% investing working women, the MINIMUM sample i.e. 35% of working 19 Abhisek Mitra, U408001

women invest for the purpose of steady returns from the investment and 65% dont invest with this objective.
8.)PURPOSE OF INVESTMENT: LONG TERM BENEFITS Frequen cy 48 52 100 Perce nt 48 52 100 Cumulative Percent 48 100
Valid
No Yes Total
long term benefits as a purpose chart

From the above table, I observed that out of the 89% investing working women, the MAXIMUM sample i.e. 52%, does it with the purpose of long-term returns and 48% dont want to do investment with a longterm objective. 9.)PURPOSE OF INVESTMENT: TAX BENEFITS 20 Abhisek Mitra, U408001

Frequen cy 71 29 100 Perce nt 71 29 100 Cumulative Percent 71 100
Valid
No Yes Total
ta b n fit a ap rp s c a x e e s u o e h rt
8 0 7 0 6 0 count 5 0 4 0 3 0 2 0 1 0 0 n o ye s F q e cy re u n
From the above table, I observed that out of the 89% investing working women, only the MINIMUM sample i.e. 29% of working women invest for purpose of TAX BENEFIT. 10.)OBJECTIVE OF INVESTMENT: PURCHASE OF HOUSE Frequen cy 75 25 100 Perce nt 75 25 100 Cumulative Percent 75 100
Valid
No Yes Total

purchase house as a objective chart
80 70 60 count 50 40 30 20 10 0 no yes Frequency
From the above table, I observed that out of the 89% investing working women, the MINIIMUM sample i.e. only 25% of working women invest with the objective of PURCHASING A HOUSE. 11.)OBJECTIVE OF INVESTMENT: EDUCATION Frequen cy 80 20 100 Perce nt 80 20 100 Cumulative Percent 80 100
Valid
No Yes Total

education as a objective chart
90 80 70 60 50 40 30 20 10 0 no yes
count
Frequency
From the above table, I observed that out of the 89% investing working women, the MINIIMUM sample i.e. only 20% of working women invest with the OBJECTIVE TO FUND EDUCATION.
12.)OBJECTIVE OF INVESTMENT: RETIREMENT BENEFIT Frequen cy 74 26 100 Perce nt 74 26 100 Cumulative Percent 74 100
Valid
No Yes Total

retirement as a objective chart
From the above table, I observed that out of the 89% investing working women, the MINIMUM sample i.e. only 26% of working women invest with the OBJECTIVE TO GET RETIREMENT BENEFITS. 13.)OBJECTIVE OF INVESTMENT: GENRATE INCOME OUT OF SAVING Frequen cy 42 58 100 Perce nt 42 58 100 Cumulative Percent 42 100
Valid
No Yes Total
genrate income as a objective chart

70 60 50 count 40 30 20 10 0 no yes Frequenc y
24 Abhisek
Mitra, U408001

From the above table, I observed that out of the 89% investing working women, the MAXIMUM sample i.e. 58% of working women invest with the OBJECTIVE TO GENERATE INCOME OUT OF SAVING TO MEET THEIR CURRENT NEED. 14.)OBJECTIVE OF INVESTMENT: OTHERS Frequen cy 73 27 100 Perce nt 73 27 100 Cumulative Percent 73 100
Valid
No Yes Total
others as a objective chart

From the above table, I observed that out of the 89% investing working women, the MAXIMUM sample i.e. 73% of working women invest WITH OTHER OBJECTIVES (than as stated in the questionnaire). 15.)TIME PERIOD OF INVESTMENT TO ACHIEVE FINANCIAL GOAL Frequen cy Perce nt Cumulative Percent 25 Abhisek Mitra, U408001

Valid dont invest Below 3 yrs 3-5 yrs 5-7 yrs Above 7 yrs Total 10 20 33 20 17 100 10 20 33 20 17 100 10 30 63 83 100
time period chart

35 30 25 count 20 15 10 5 0 dont invest below 3 yrs 3-5 yrs years 5-7 yrs above 7 yrs Frequency
From the above table, I observed that out of the 89% investing working women, the MAXIMUM sample i.e. 33% of working women want a time period of 3-5 YRS TO ACHIVE THEIR FINANCIAL GOAL, 20% of working women want a time period of BELOW 3 YRS AND another 20% want it in 5-7 YRS. Rest have a waiting time of above 7 yrs.
16.)INVESTMENT IN FIXED DEPOSIT Frequenc y 41 59 100 Cumulative Percent 41 100
Valid
No Yes Total
Percent 41 59 100

fixed deposit as a option chart
From the above table, I observed that out of the 89% investing working women, the MAXIMUM sample i.e. 59% of working women INVEST IN FIXED DEPOSITS .This shows that most women believe in safe way of investing with FDS. 17.)INVESTMENT IN INSURANCE Frequen cy 44 56 100 Perce nt 44 56 100 Cumulative Percent 44 100
Valid
No Yes Total

insurance as a option chart
60 50 40 count 30 20 10 0 no yes Frequency
From the above table, I observed that out of the 89% investing working women, the MAXIMUM sample i.e. 56% invest in INSURANCE. This shows the GROWING AWARENESS among working women about their existence and health. 18.)INVESTMENT IN MUTUAL FUND Frequenc y 32 68 100 Percen t 32 68 100 Cumulative Percent 32 100
Valid
No Yes Total

mutual fund as a option chart
From the above table, I observed that out of the 89% investing working women, the MAXIMUM sample i.e. 68% INVEST IN MUTUAL FUNDS. 19.)INVESTMENT IN STOCK MARKET Frequen cy 57 43 100 Perce nt 57 43 100 Cumulative Percent 57 100
Valid
No Yes Total
stock market as aoption chart

60 50 40 count 30 20 10 0 no yes Frequency

From the above table, I observed that out of the 89% investing working women, the MINIMUM sample i.e. only 43% INVEST IN STOCK MARKET. The rest dont. This shows their reluctance towards taking higher risks. 20.)INVESTMENT IN GOVERNMENT SECURITIES Frequen cy 90 10 100 Perce nt 90 10 100 Cumulative Percent 90 100
Valid
No Yes Total
government securities as a option chart

100 90 80 70 60 50 40 30 20 10 0 no yes
count
Frequency
From the above table, I observed that out of the 89% investing working women, the MINIIMUM sample i.e. only 10% of working women INVEST IN GOVERNMENT SECURITIES. 21.)INVESMENT IN POST OFFICE SAVING Frequen cy Perce nt Cumulative Percent 30 Abhisek Mitra, U408001

Valid No Yes Total 88 12 100 88 12 100 88 100
post office
100
From the above table, I observed that out of the 89% investing working women, the MINIMUM sample i.e. only 12 % of working women INVEST IN POST OFFICE SAVINGS. 22.)INVESTMENT IN OTHER INSTRUMENTS
80 60 40 20
count
Valid
No Yes Total
Frequen cy 92 8 100
Perce nt 92 8 100
Cumulative Percent 92 100
others as a option chart
100 90 80 70 60 50 40 30 20 10 0
0
c
count
no
yes
Frequency
no

From the above table, I observed that out of the 89% investing working women, the MINIMUM sample i.e. only 8% of working women INVEST IN OTHER INSTRUMENTS. This shows their lack of awareness about new investment products which are available in the market.
23.)WORKING WOMENS KNOWLEDGE ABOUT INVESTMENT Cumulative Percent 24 52 90 100
Valid
not familiar with the market very little understanding about the market good understanding of market very good understanding of market Total
Frequency 24 28 38 10 100
Percent 24 28 38 10 100
knowled
40 35 30 From the above table, I observed that out of the 89% investing working 25 women, the MAXIMUM sample i.e. 38% OF WORKING WOMEN HAVE 20 32 15 Abhisek 10 Mitra, U408001 count

GOOD UNDERSTANDING OF INVESTMENT MARKET AND 1O% HAVE VERY GOOD UNDERSTANDING OF INVESTMENT MARKET. 24.)INVESTMENT PROVIDE INFLATION ADJUSTED RETURN Frequenc y No 27 Yes 73 Tot al 100 Percen t 27 73 100 Cumulative Percent 27 100
Valid
Inflation adjusted return chart

From the above table, I observed that out of the 89% investing working women, the MAXIMUM sample i.e. 73% claim to GET INFLATION ADJUSTED POSITIVE RETURNS on their investment.
Findings
The following are the notable findings of this study: 1.)Most of working women from service sector invest. According to this study, I found that unlike women running business or women working as professionals, women working in service sectors are more into investing. This speaks about the awareness of investment products to be better in case of service oriented women than in case of self-employed or business women. Also as a matter of fact, it can be seen that few of the service class women have gone for investment with the sole purpose of tax planning. So, it is a type of forced investment on their part. 2.)Most of working women under age group 20-30 invest.

It is seen in this study that most of the working women who are investing are falling under the age bracket of 20-30 years. This reflects the steadily increasing disposable incomes of the young masses are properly channelised towards investment. Also because most of the population belonging to this group is not married, so they do not have to take responsibility of supporting their family & hence they can afford to invest their surplus to gain more benefits in the future. 3.) benefits. According to this study, it is seen that most of the working women who are investing, are doing it for the sake of deriving long-term benefit out of it. This has again to do with the age group, as the young people are ready to invest their surplus for future & are not much bothered about their current need & obligations. 4.) According to the study there is very less women invest for their retirement plans. It is found that among the investing mass, only a few people (26%) are interested to invest for getting retirement benefits. 5.) Most of the working women wants to invest in Fixed Deposits , Mutual Funds or Insurance schemes. According to this study, most of the working women who invest, invests in MFs (68%), FDs (59%) & Insurance schemes (56%). This reflects the risk averse behavior of the working women investors. Also because all these instruments are available for 35 Abhisek Mitra, U408001 Most of the working women invest for long term

tax savings, so the respondents may have chosen to invest in these particular investment types. This also highlights the lack of awareness among the working women about new avenues of investments that are available in the markets.
Limitations
The limitations of this study are as follows: 1.) The majority sample population as taken in this
research includes working women in service sector. So, certain findings tend to be biased accordingly.

2.) The method of conducting the research has been conducting interviews & later on questionnaire has been filled-up to record the responses. As we know that it involves short close-ended questions with limited response options, so the findings may not reflect absolute true behavior of the respondents. 3.) As we know that many people dont feel comfortable while discussing & divulging their true financial picture, so the responses as recorded in the questionnaires may not be absolutely correct. Hence it may lead to some wrong findings.
Conclusion
The study gives an insight to the opportunity as well as to the challenge of exploring the various investment products preferred by the working women mass in the city of Bhubaneswar, as more and 37 Abhisek Mitra, U408001

more new investment avenues are devised to suit the objectives of the target group. It can be concluded from the above study that most of the working women mass in Bhubaneswar feel the need & motivation to invest for their future & act accordingly. The main driving force behind their investment need & behavior is to derive long-term benefits from their investments, which is in sync with the basic investment fundamentals. It is also found from this study that most service class women invest & also start doing it earlier in their career, but are not very keen in taking much risk to ensure that their investment are growing faster. This can be substantiated from the findings in the study where most of the respondents are seen choosing relatively less riskier investment instruments like Fixed Deposits, Insurance & Mutual Funds to invest their surplus. With the everemerging role of education & the continuous rising living standards, the working women are increasingly feeling the need to invest to secure their present & future, but due to lack of proper awareness of the possible risk-reward trade-offs, many respondents are supseptible to wrong investment decisions as well. It is seen from the survey that most of the working women mass in Bhubaneswar who are investing are quite satisfied with their investment choices, however the cognitive dissonance isnt completely removed. So, to take care of these problems & also to take the benefits of the opportunities lying ahead in this market, marketers should take note of the following recommendations:
They should take active steps to properly educate & spread awareness about the various investment instruments among the masses. 38 Abhisek Mitra, U408001

They should do proper profiling of the client & suggest the right investment mix accordingly. They should supply sufficient dealer literature. Instruction manuals should seek to convince the buyer of the wisdom of the selection. They should provide information about where and how to secure services and should also promote the availability and quality of their after-sale service. They must make sure that their advertising and other forms of promotion do not create expectations their products cannot meet. Companies need to ask customers what they want and how they want it. All in all marketers should seek to sell investment products that satisfy the buyers needs.

Annexure:
Questionnaire
1. Personal details a)Name:___________________ b)Address:_________________ _________________ __________________ c)Contact No:__________________ ____________________ d)Mail ID____________________ 2. What is your occupation? a) b) c) d) Service Business Profession Others
3. What is your annual income? a) Below Rs 100000 b) Rs 100001 Rs 300000 c) Rs 300001 - RS 500000 d) Rs 500001 - Rs 800000 e) Above Rs 800001 4. What is your annual savings? a) b) c) d) e) Below Rs 25000 Rs 25000 to Rs 50000 Rs 50000 to Rs 1 lacs Rs 1 lacs to Rs 3 lacs Above 3 lacs
5. What is your present age? a) b) c) d) 20 yrs to 30 yrs Between 31- 40 yrs Between 41- 50 yrs Above 51 yrs 40 Abhisek Mitra, U408001
6. Do you invest? a) yes b) no 7. Which of the following statement describe the purpose of your investment? a) Regular monthly income and totally protect the value of saving. b) Steady returns from the investment c) Long term benefits d) tax benefit 8. What is your primary objective of your investment? a) b) c) d) e) Purchase of house Funding to education Retirement benefit Generate income out of saving to meet with current need Others
9. What would be your time period of investment to achieve your financial goal? a) b) c) d) 10. a) b) c) d) e) f) g) Below 3 yrs 3-5 yrs 5-7 yrs Above 7 yrs Where do you invest? Fixed deposit Insurance Mutual funds Stock market Govt. securities Post office saving Others 41 Abhisek Mitra, U408001
11. What is percentage (%) of saving you invest in different products? a) b) c) d) e) f) g) 12. a) b) c) d) 13. Fixed deposit Insurance Mutual funds Stock market Govt. securities Post office saving Others How familiar are you with the investment markets? Not very familiar Very little understanding Understand that market fluctuates Have enough experience about the market Does your investment provide inflation adjusted return? a) Yes b) No
Bibliography
Schiffman, G Leon., Kanuk, Lazar Leslie., Consumer Behavior, 9th edition., New Delhi: Pearson Education., 2009 Materials provided in the Consumer Behavior class Kothari, C.R., Research Methodology, 2nd ed., New Delhi: New Age International Publishers., 2004. Malhotra, K Naresh., Marketing Research, edition.,New Delhi: Pearson Education., 2009. Kotler, Philip management and Keller, K.L. (2007), 5th
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Investment Habits of Working Women

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Consumer Behavior Project INVESTING HABITS OF WORKING WOMEN IN BHUBANESWAR:

Consumer Behavior Project

2 Abhisek Mitra, U408001

Consumer Behavior Project

Consumer Behavior Project

Background of Bhubaneswar City & its demographics 4 Abhisek Mitra, U408001

Consumer Behavior Project

5 Abhisek Mitra, U408001

Consumer Behavior Project

Consumer Behavior Project

Consumer Behavior Project

Consumer Behavior Project

9 Abhisek Mitra, U408001

Consumer Behavior Project

Objective of the Study

Consumer Behavior Project

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Consumer Behavior Project

Consumer Behavior Project

service business profession al Others

Consumer Behavior Project

occupation frequency chart

Below Rs 1lakh Rs 1-3lakh Rs 3-5lakh Rs 5-8lakh above Rs 8lakh Total

14 Abhisek Mitra, U408001

Consumer Behavior Project

3.)SAVING GROUP Cumulati ve Percent 13 59 92 98 100

Below Rs 25 thousand Rs 25 thousand-50 thousand Rs 50 thousand-1lakh Rs1-3lakh Above Rs 3lakh Total

Frequenc Perce y nt 13 13 46 33 6 2 100 46 33 6 2 100

15 Abhisek Mitra, U408001

Consumer Behavior Project

4.)AGE GROUP Frequen cy 60 28 11 Percen t 60 28 11 1 100 Cumulativ e Percent 60 88 99 100

16 Abhisek Mitra, U408001

Consumer Behavior Project

17 Abhisek Mitra, U408001

Consumer Behavior Project

monthly income as a purpose chart

18 Abhisek Mitra, U408001

Consumer Behavior Project

steady return as a purpose chart

Consumer Behavior Project

long term benefits as a purpose chart

Consumer Behavior Project

21 Abhisek Mitra, U408001

Consumer Behavior Project

22 Abhisek Mitra, U408001

Consumer Behavior Project

23 Abhisek Mitra, U408001

Consumer Behavior Project

genrate income as a objective chart

Consumer Behavior Project

others as a objective chart

Consumer Behavior Project

time period chart

16.)INVESTMENT IN FIXED DEPOSIT Frequenc y 41 59 100 Cumulative Percent 41 100

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Consumer Behavior Project

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Consumer Behavior Project

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Consumer Behavior Project

stock market as aoption chart

29 Abhisek Mitra, U408001

Consumer Behavior Project