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This document is a project report on consumer tastes and preferences for fashionable garments. It includes an introduction that provides background on the growth of organized retailing in India. It then discusses the methodology used for the project and analyzes consumer data. The report was submitted by Shiba Prasad Mishra to their professor Ajit Narayan Mohanty to fulfill requirements for a postgraduate diploma in management. It includes declarations, acknowledgments, and various sections required for a project report such as introduction, literature review, findings, and conclusions.
This document is a project report on consumer tastes and preferences for fashionable garments. It includes an introduction that provides background on the growth of organized retailing in India. It then discusses the methodology used for the project and analyzes consumer data. The report was submitted by Shiba Prasad Mishra to their professor Ajit Narayan Mohanty to fulfill requirements for a postgraduate diploma in management. It includes declarations, acknowledgments, and various sections required for a project report such as introduction, literature review, findings, and conclusions.
This document is a project report on consumer tastes and preferences for fashionable garments. It includes an introduction that provides background on the growth of organized retailing in India. It then discusses the methodology used for the project and analyzes consumer data. The report was submitted by Shiba Prasad Mishra to their professor Ajit Narayan Mohanty to fulfill requirements for a postgraduate diploma in management. It includes declarations, acknowledgments, and various sections required for a project report such as introduction, literature review, findings, and conclusions.
In fulfillment of the requirements for Post Graduate Diploma in Management (2013-2015)
Under the Guidance of: Prof. Ajit Narayan Mohanty Marketing Faculty
SUBMITTED TO: SUBMITTED BY: Prof. Ajit Narayan Mohanty Shiba Prasad Mishra Marketing Faculty Regd No.-1301247136
Regional College Of Management CERTIFICATE
This is to certify that Mr.Shiba Prasad Mishra, student of Regional College of Management has completed his Project report on CONSUMER TASTE & PREFERENCES IN FASHIONABLE GARMENTS in the year 2013-2015 in final fulfillment of Post Graduate Diploma in Management (PGDM). He has successfully completed the project under my constant guidance and support.
Signature of Project Guide
DECLARATION
I hereby declare that the Project report titled CONSUMER TASTE & PREFERENCES IN FASHIONABLE GARMENTS is my original work and has not been published or submitted for any degree, diploma or other similar titles elsewhere. This has been undertaken for the purpose of partial fulfillment of Post Graduate Diploma in Management at Regional College of Management.
Date: Shiba Prasad Mishra Roll no.: 1301247136
PREFACE
This project report attempts to bring under one cover the entire hard work and dedication put in by me in the completion of the project work on Consumer Taste & Preferences in Fashionable Garments at Big bazaar. I have expressed my experiences in my own simple way. I hope who goes through it will find it interesting and worth reading. All constructive feedback is cordially invited.
Date: Shiba Prasad Mishra Roll No:1301247136
ACKNOWLEDGMENT
It is really a matter of pleasure for me to get an opportunity to thank all the persons who contributed directly or indirectly for the successful completion of the project report, Consumer Taste & Preferences in Fashionable Garments . First of all I am extremely thankful to my college Regional College of Management for providing me with this opportunity and for all its cooperation and contribution. I also express my gratitude to my Project mentor and guide Prof. Ajit Narayan Mohanty. I am highly thankful to our respected project guide for giving me the encouragement and freedom to conduct my project. I am also grateful to all my faculty members for their valuable guidance and suggestions for my entire study. I would also like to thank the Big Bazaar team for extending their valuable time and cooperation.
Shiba Prasad Mishra Roll No.: 1301247136
CONTENTS
1. Introduction 2. Consumer taste and preferences in fashion 3. Company Profile 4. Competitors Profile 5. Methodology 6. Data Analysis 7. Findings 8. Conclusion 9. Recommendations/Suggestions 10. Bibliography and References
INTRODUCTION
The Retail Industry in India: After 50 years of unorganized retailing and fragmented kirana stores, the Indian retail industry has finally begun to move towards modernization, systematization and consolidation. Indias billion plus population and its changing lifestyle continue to kindle the interest of major retail chains. The retail sector in India is witnessing a huge revamping exercise as traditional markets make way for new formats such as departmental stores, hypermarkets, supermarkets and specialty stores. Western-style malls have begun appearing in metros and second- rung cities alike introducing the Indian consumer to a shopping experience like never before. Rated the fifth most attractive emerging retail market, India is being seen as a potential goldmine. It has been ranked 2nd in a Global Retail Development Index of 30 developing countries drawn up by A T Kearney. The list was developed as a response to requests from retail chains facing saturated demand in most western markets. India's vast middle class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets. In the last decade or so, the much oppressed Indian consumer has undergone a sea change. Consumer Revolution in India can be studied by analysing the different parameters of the Indian consumer. Changing Income Profile: The key global trend in the retail industry is the change in the consumers mind- set. Unlike in the past where consumers had largely physical stores to walk-in and shop
from, todays consumers are demanding the freedom to decide the channel of transaction. As higher incomes generate additional spending and as the consumer experience his/her freedom of expression in a liberalized world, the broad contours of the retail market have changed significantly.
Household Income class Number of Household (millions) and
420 million people (90 million families) expected to be added in the middle and upper
Middle income groups by FY 2009.
100
80 Rich
No,of 60 Upper Middle
Households
(millions) 40 Middle
20 Lower
0
FY 1996 FY 2002 FY 2006 FY 2009
Changing age profile: This determinant is going to be very important for the growth prospect of Indian retail sector. With an estimated population of around 1.08 billion, the major lucrative point from retailers perspective is the rapid increase in the proportion of people in the consuming age group of 15-45. A study shows that there should be a big surge in the 15-45 age group up from 210 million (25% of the total population) in 1991 to a projected 600 million by 2010. This demographic shift in favor of younger people can be a harbinger of increased urbanization, and could raise the consumption of branded and aspirational products.
Organized Retailing In India: The retail market is highly fragmented and is dominated by the in numerous, independent, owner managed shops. The modern day consumer is in the process of getting exposed to the organized version of retail. What distinguishes organized retailers is the presence in multiple locations and their ability to extract huge concessions from the manufacturers because of economies of scale. Establishment of international quality formats modified to suit Indian behaviour, improvement in retail processes and a turnaround in the operation of some existing Retailers have contributed to the development of organized retailing. Organized retail, at present comprises merely 4.6 per cent of the total market in India. Organized retailing is projected to growth to grow at the rate of about 37 per cent in 2007 and 42 per cent in 2008. Organized retail in India has the potential to add over INR 2,000 billion ($ 45 billion) business by the Year 2010 a figure that Appears quite small if one were to compare the extent of the total market. If this growth is sustained, the share of organized retailing should rise to 6% to 10% by the end of this decade.
Challenges in Retailing: Foreign Direct Investment: FDI in retail in India, which has been recommended (to the extent of 51 per cent) by ICRIER, a New Delhi-based policy research group, is under the consideration of the Union Government. Indias retail industry being dominated by the unorganized sector, there is a threat that FDI could adversely affect the small retailers. Also, the threat increases if report of the UK Competition Commission is to be believed, which says thousands of retail jobs were lost on the entry of hypermarkets through FDI in retail in the UK. As per Images Handbook 2006, employment in retail is 2nd largest after agriculture pegged at around 8% of Indias total employment, dominated by supermarkets and hypermarkets. Therefore FDI will throw up huge employment opportunities. Retail can create many new jobs in different sectors like BPO, Tourism & hospitality, etc. FDI will radically and favorably impact the value creation and modernization of India's retail sector. The think-tank has suggested that any opening up of FDI in retail should be gradual (3-5 years) to give the domestic industry enough time to adjust to the changes and to cope up with competition from Wall-Marts and Carrefours of the world. Real Estate of Retail Industry: Real estate costs are high in India and it is also not easy to find a suitable property for a large format retail store. Usually, spaces in malls are given out on lease rentals and never sold upright. The rates are highly speculative in nature. The demand is very high for good locations as there is unbelievable business and their turnaround is tremendous. Legislation and Supply Chain Management:
Different sales tax rates across states make supply chain management a difficult task for retailers. High import duties reduce the product choices available to the end consumer. However restrictions on imports are gradually being reduced.
Size of the retail distribution network: In terms of number of retail outlets, India ranks highest in the world with around 12 Million outlets across the country. The excellent network of retail outlets is going to be one of the principle driving forces behind the growth of the retail industry. On the other hand, the per capita retail space is among the lowest in the world at 2 sq ft. per person as opposed to 16 sq ft. per person in the US. This fragmented nature of retail space seems to indicate a tremendous opportunity for Indian retail to organize and reap the benefits of economies of scale.
The Price-sensitive Consumer: The Indian consumers are price-sensitive and bargain-driven. Prices of branded products are uniform throughout the country. Unbranded products or lesser-known brands offer a very large margin to retailers, thereby allowing them to offer discount.
Brand Competition: The Indian urban consumers are value conscious. Many brands have established themselves strongly over years. Despite the absence of an international retail chain, international brands have edged out local competition by focusing on economies of scale.
COMPANY PROFILE About the company: Type: Public Retailing Industry Head Quarters: Mumbai, Maharashtra, India. CEO: Kishore Biyani Parent: Future Group Website: FutureBazaar.com
Future value Retail limited is a wholly owned subsidiary of pantaloons Retail (India) Limited. This entity has been crated keeping in mind the growth and the current size of the companys value retail business, led by its format division, Big Bazaar and Food Bazaar. The company operates 120 Big Bazaar stores, 170 Food Bazaar stores, among other formats, in over 70 cities across the country, covering an operational retail space of Over 6 million square feet. As a focuses entity driving the growth of the groups value retail business, Future value Retail Limited (FVRL) will continue to deliver more value to its customers, supply partners, stakeholders and communities Across the country and shape the growth of modern retail in India. Every day, Future group brings multiple products, opportunities and services to millions of customers in India. Through over 15 million square feet of retail space, it
serves customers in 85 cities and 60 rural locations across the country. Most of all, ithelps India shop, save and realize and aspirations to live a better quality of life every day. Future group understands the soul of Indian customers. As one of Indias retail pioneers with multiple retail formats, it connects a diverse and passionate community of Indian buyers, sellers and business. The collective impact on business is staggering; around 220 million customers walk into our stores each year and choose products and services supplied by over 30000 small, medium and large entrepreneurs and manufacturers from across India. And this number is set to grow. Future group employs 35000 people directly from every section of our society. It source suppliers from enterprises across the country, creating fresh employment, impacting livelihoods, empowering local communities and fostering mutual growth. Future group believes in the India dream and have aligned its business practices to large objective of being a premier catalyst in Indias consumption-led growth story. Working towards this end, future group are ushering positive socioeconomic change in communities to help the Indian dream fly high and the sonekichidiyasoar once again. This approach remains embedded in future group ethos even as it rapidly expands its footprints deeper into India. BIG BAZAARis a chain of hypermarket in India. Currently there are 120 stores across 70 cities and towns in India. Big Bazaar id designed as an agglomeration of bazaar or Indian market with clusters offering a wide range of merchandise including fashion and apparels, food products, general merchandise, furniture, electronics, book, fast food and leisure and entertainment section. Brief History of the Company Big bazaar was launched in September, 2001 with the opening of itsfirst fourStores in Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years, there are 120 Big bazaar stores in 70 cities and towns across India. Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of Pantaloons Retail. Though Big bazaar was launchedpurely as a fashionformat including apparel, cosmetics, accessory and general merchandise, over the years Big bazaar has included a wide range of products and service offering under their chain. The current formats include Big bazaar, Food bazaar, Electronic bazaar and Furniture bazaar. The inspiration behind this entire retail format was from saravanastores, a local store in T. Nagar, Chennai. The stores are customized to provide the feel of mandis and meals while Offering the modern retail feature like
Quality, Choice and convenience. As the modern Indian familys favourite retail store, Big bazaar is popularly known as the Indian WallMart. On successful completion of ten years in Indian retail industry, in 2011, Big bazaar has come up a new logo with new tag line Naye India ka Bazaar replacing the earlier ones IsseSastaAurAcchaKahinNahin Big Bazaar has clearly emerged as the favourite shopping destination for millions of its consumers, across the country, its success is a true statement to the emotional bonding it has established with the Indian consumer, on account of its value offerings, a inspirational appeal and service levels. Shop till you drop! Big Bazaar has democratized shopping in India and is so much more than a hypermarket. Here, you will find over 1, 70,000 products under one roof that cater to every need of a family, making Big Bazaar Indias favorite shopping destination. At Big Bazaar, you will get the best products at the best prices from apparel to general merchandise like plastics, home furnishings, utensils, crockery, cutlery, sports goods, car accessories, books and music, computer accessories and many, many more.Big Bazaar is the destination where you get products available at prices lower than the MRP, setting a new level of standard in price, convenience and quality. If you are a fashion conscious buyer who wants great clothes at great prices, Big Bazaar is the place to be. Leveraging on the companys inherent strength of fashion, BigBazaar has created a strong value-for-money proposition for its customers. This highlights the uniqueness of Big Bazaar as compared to traditional hypermarkets, which principally revolve around food, groceries and general merchandise. Boasting of an impressive array of private labels, Big Bazaar is continually striving to provide customers witha complete look. So be it mens wear, womens wear, kids wear, sportswear or party wear, Big Bazaar fashions has it all! Strategy of Big Bazaar According to Kishore Biyanis 3-C theory, change and confidence among the entire population is leading to rise in consumption, through better employment and income which in turn is creating value to agriculture products across country.
Vision: To deliver Everything, Everywhere, Every time for every time for Every Indian consumer in the most profitable manner. Indias transformation into the legendary SonekiChidiya (golden bird), taking wings once again to reach greater heights
Mission: We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. We will be the trendsetters in evolving formats, creating retail reality, makingconsumption affordable for all customer segments for classes and for masses. We shall infuse Indian brands with confidence and renewed ambition. We shall be efficient, cost conscious and committed to quality in whatever we do. We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful.
Board of directors Mr. Kishore Biyani, Managing Director Mr.GopikrishnanBiyani, Whole Time Director Mr.RakeshBiyani, CEO Retail VedPrakashArya, Independent Director Mr.ShaileshHaribhakti, Independent Director Mr.S.Doreswamy, Independent Director Dr.D.O.Koshy, Independent Director Ms.AnjuPoddar, Independent Director Ms.BalaDeshpande, Independent Director Mr.AnilHarish ,IndependentDirector
Innovations of Big Bazaar Wednesday Bazaar
Big Bazaar introduced the Wednesday Bazaar concept and promoted it as HafteKaSabseSasta Din. It was mainly to draw customers to the stores on Wednesdays, when least number of customers is observed. According to the chain, the aim of the concept is "to give homemakers the power to save the most and even the stores in the city don a fresh look to make customers feel that it is their day".
SabseSasta Din With a desire to achieve sales of Rs 26 Crore in a one single day, Big Bazaar introduced the concept of "SabseSasta Din". The idea was to simply create a day in a year that truly belonged to Big Bazaar. This was launched on January 26, 2006 and the result was exceptional that police had to come in to control the mammoth crowd. The concept was such a huge hit that the offer wasincreased from one day to three days in 2009 (24 to 26 Jan) and to five days in 2011 (22-26 Jan)
MahaBachat MahaBachat was started off in 2006 as a single day campaign with attractive promotional offers across all Big Bazaar stores. Over theyears it has grown into a 6 days biannual campaign. It has attractive offers in all its value formats such as Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar - catering to the entire needs of a consumer.
The Great Exchange Offer
On February 12, 2009 Big Bazaar launched "The Great Exchange Offer", through with the customers can exchange their old goods in for Big Bazaar coupons. Later, consumers can redeem these coupons for brand new goods across the nation.
Achievements and Awards 2004 Big Bazaar wins its first award and national recognition. Big Bazaar and Food Bazaar awarded the countrys most admired retailer award in value retailing and food retailing segment at the India Retail Forum. A day before Diwali, the store at LowerParel becomes the first to touch Rs 10 million turnover on a single day. 2005 Launches a unique shopping program: the Big Bazaar Exchange Offer, inviting customers to exchange household junk at Big Bazaar. Electronic Bazaar and Furniture Bazaar are launched. Big Bazaar andICICI Banklaunched ICICI Bank-Big Bazaar Gold credit card program to reward its loyal customers. 2006 Big Bazaar launches Shakti, Indias first credit card program tailored for Housewives. Navaras the jewellery store launched within Big Bazaar stores. 2007 Big Bazaar partners with Futurebazaar.com to launch India's most popular shopping portal. Big Bazaar initiates the "Power of One" campaign to help raise funds for the Save The Children India Fund. Pantaloons Retail wins the International Retailer of the Year at US-based National Retail Federation convention in New York and Emerging Retailer of the Year award at the World Retail Congress held in Barcelona.
2008 Big Bazaar becomes the fastest growing hypermarket format in the world with the launch of its 101st store within 7 years of launch. Big Bazaar dons a new look with a fresh new section, Fashion@Big Bazaar Big Bazaar joins the league of Indias Business Super brands. It is voted among the top ten service brands in the country in the latest Pitch-IMRB international survey. Big Bazaar initiated the Mega Saving "Monthly Bachat Bazaar" campaign, to provide exceptional deals on groceries and food items during the first week of every month. 2009 Big Bazaar captures almost one-third share in food and grocery products sold through modern retail in India Mahendra Singh Dhoni and Asin, youth icons of India, were chosen as the brand ambassadors of Big Bazaar Big Bazaar announced the launch of 'The Great Exchange Offer' 2010 Big Bazaar wins CNBC Awaaz Consume r Awards for the third consecutive year. Adjudged the Most Preferred Multi Brand Food & Beverage Chain, Most Preferred Multi Brand Retail Outlet and Most Preferred Multi Brand One Stop Shop. Big Bazaar connects over 30,000 small and medium Indian manufacturers and Entrepreneurs with around 200 million customers visiting its stores. VidyaBalanwas chosen as the brand ambassador of Big Bazaar's Price Challenge exercise 2011 For the convenience of the online customers, Big Bazaar has started free shipping on all orders above Rs. 1000. 2012 Big Bazaar entered into a five year multi- million dollar deal with Cognizant Technology Solutions for IT infrastructure services that support Future Group's network of stores, warehouses, offices, and data centers.
MARKETING MIX
4 PS of Big Bazaar PRODUCT MIX: Apparels Home Care Chill Station Farm Produce Denims& Shirts Shampoos Soft Drink Fruits Fabrics Detergents Packaged Juices Vegetables Formal Wear Soaps Milk Items Imported Fruits Casual Wear Liquid Wash Frozen Foods Dairy Products
PRICE MIX: Value Pricing (EDLP) Promotional Pricing, Low Interest Financing, Psychological Discounting, Special Event Pricing Differentiated Pricing, TimePricing Bundling
PLACE MIX: Initially Identifies Future/Potential development areas. Acquire such areas at an early phase before the real estate value booms. Located at high traffic areas. Designto look crowded.
PROMOTION MIX :SaalKeSabseSaste 3 DinFuture Card(3%Discoun t)Advertising(Print ads, TV Ads, Radio)Brand Endorsement by M.S Dhoni .Exchange Offer WeekendDiscount Point of Purchase Promotion
SWOT ANALYSIS
Strengths Benefit of early entry into the retail industry. Frequent offers for customer. (EDLP Every Day Least Price) Point Of Purchase promotion It has goodwill of being a format of Future Group, which has pan India presence. Vast range of products under one roof helping in attracting customer and their experience. Own products. Cleanliness & hygiene is up to the standard. Diversified business operating all over India in retail industry Weakness No furniture to complete the offerings. Very thin margin. High perishable items like vegetables are kept. Unavailability of popular Brand item with regards to clothing Opportunity Lots of potential in the rural markets. Mood of optimism is creeping in the mind of consumers regarding facilities. Can expand the business in smaller cities as there is lot of opportunity.
Threats High business risk involved. Lots of competitors coming up to tap the market potential (stiff competition) Unorganized Retail sectors
THEORETICAL BACKGROUND RETAIL MANAGEMENT What is retailing? Retailing includes all the activities involved in selling goods or services directly to final consumers for their personal, no business use. A Retailer or Retail store is any business enterprise whose sell volume comes primarily from retailing. Type of Retailers:
Retail organization exhibit great variety and new form keep emerging. Several classifications have been proposed. For our purposes, we will discuss store retailing, nonstore retailing, and retail organizations. Store Retailing: Consumers today can shop for goods and services in a wide variety of store. The most important retail store types, many of which are found in most countries, fall in eight categories: Specialty store Department store Supermarkets Convenience store Discount store Off price retailers Superstore Catalog showroom Specialty store: Carry a narrow product line with a deep assortment within that line. Department store: Carry several product lines typically clothing, home furnishing, and household goods with each line operated as a separate department managed by specialist buyers or merchandisers. Supermarkets: Relatively large , low cost, low margin, high volume, self service operations design to serve the consumers total needs for food, laundry, and household maintenance product. Convenience store: Relatively small store that are located near residential areas, are open long hour seven days a week, and carry a limited line of high turnover convenience product. Discount store: Sell standard merchandise at lower price by accepting lower margin and selling higher volumes. Off-price Retailers: Buy at less than regular wholesale price and charge consumer less than retail. Superstores: Average 35000 square feet of selling space and have traditionally aimed at meeting Consumers total needs for routinely purchase food and non-food items. Catalog showrooms: Sell a broad selection of high mark-up, fast moving, brand name goods at discount prices.
What is retail strategy? A retail strategy is an overall plan or framework of action that guides a retailer. Without pre- defined and well-integrated strategy the firm may flounder and be unable to cope with the environment that surrounds it. Elements of a retail strategy: 1 Situation analysis It means: Defining and adhering to an organizational mission i.e. what is the firms attitude to consumers, employee, competitors, government and others. Evaluating ownership and management option i.e. whether to operate as a sole Proprietorship a partnership or a corporation as well as whether to start a new business, to buy an existing business or to become a franchisee. Outlining goods/service category o be sold i.e. in what line of business should a retail firm operate?
2 Objectives: These are the goals, long run and short run, that a retailer hopes to attain. These goals are sales (including growth, stability and market share) profit (including level, return on investment and efficiency) satisfaction of public (including stock holders and consumers) and image (including customer and perception). The statement of clear objectives help to mould a strategy and translate the company mission into action. 3 - Identification of customer: The retailer must identify the characteristics and needs of customers. The customer group that a retailer seeks to attract and satisfy is called the target market. In selecting it targemarket, a retailer may use one of the three techniques: selling goods and services to broad spectrum of customers, the mass market, zeroing in on one specific group, a market segment are aiming at two or more distinct consumer groups, multiple segments.
4 - Overall strategy: This strategy involves two components: Controllable variables that are those aspects of business that the retailer can directly affect (such as choosing a store location, management of business, merchandise management and pricing and communicating with the customer). Uncontrollable variables that is those aspect of business to which the retailer must adopt (such as customers needs, competition, technological changes, economic conditions, seasonal changes, legal restrictions). 5 - Specific activities: These actions are known as tactics and encompass a retailers daily and short term operation. They must be responsive to the uncontrollable environment (like use of research while deciding the store location, proper planning for merchandise, various promotional etc.) activities.
6 Control: In this phase a semi annual or annual review of the company should take place, with the strategy and tactics that have been developed and implemented being evaluated against the business i.e.
RESEARCH METHODOLOGY Market Research is defined as a systematic gathering, recording and analysis of the data concerned with an objective. This whole activity is divided in to various parts & after compilation of that we reach at certain findings, which enable us to take marketing decision. It involves the diagnosis of information needed and the selection of relevant and interrelated variables. Project Title: Impact of Service Quality on Customer Retention at Big Bazaar The project was conducted to determine the Consumer Behaviour which helped to throw light on competitors. This will gives us an idea about the current market scenario and what exactly attracts a customer towards a store. Research Design: A research design is the specification of method and procedure or acquiring information needed. According to my research design I have performed the following steps in the project. Steps: 1. To decide the objective of research. 2. To determine the most suitable method of research. 3. To determine the source of data. 4. To decide the appropriate instrument for data collection. 5. To determine the suitable sampling design & sample design. 6. To conduct the field survey for data collection. 7. To process and analyze data. 8. To prepare the research report.
Data source: In this study both primary as well as secondary data is collected for project. Primary data: It is that data which is collected at fist hand either by researcher or someone else especially for the purpose of study. Here I collected the data from the target segment through questionnaire i.e. from consumers, the common people who have visited a store.
Method of data collection: Survey method
Secondary data: It refers to any data which have been gathered earlier for some other purpose. Here the secondary data was collected from the following sources: Journals and magazines Internet (related websites) Text books Research type: I have used the descriptive method. It is a specification of method and procedures for acquiring the information needed to solve the problems. It is an overall pattern or framework of the project that stipulates what information is to be collected from which source and by what procedure. Research Instrument: The tool used for data collection was Structured Questionnaire which was designed keeping the objective in mind. Some direct questions were asked to respondent. Sampling plan: Sample Universe: Our sample population was places near Daragha Bazaar Cuttack. Sample Unit: Men and Women who visited store often or occasionally. Area: Area Under study was restricted to Cuttack. Sampling technique: Convenience sampling Sampling size: Sample size taken by us was 100 people. Contact method: Contact method used in the survey was Personal Interview.
DATA ANALYSIS 1- How often do you buy from here? a) Weekly twice c) fortnightly once b) Weekly once d) Whenever the need arises No. of Respondent in percentage (%) Weekly twice 10 Weekly Once 30 Fortnightly once 20 Whenever the need arises 40
Interpretation: Maximum numbers of respondents like to buy from big bazaar, when their need arise. 0 10 20 30 40 weekly twice weekly once Fortnightly once whenever the need arises No. of respondent no. Of respondent
2- When was the last time you bought from her? a) 1 week ago c) 1 month ago b) 2 weeks ago d) 1 st time purchase
Interpretation: Sales 0 20 40 60 80 1 week ago 2 weeks ago 1 month ago 1st time purchase Sales Sales
80% Respondent mentioned that shopping comes to their mind when they think of store where as others mentioned that Entertainment and hangout.
3- Do you buy only for yourself from here? a) Yes b) No
Interpretation: No of Respondent Yes No
It is very clear from above analysis that a store with Book store and kids zone preferred the most by the consumer.
4- For whom else do you buy from her? a) Family c) Relatives b) Friends d) Others specify
Interpretation: After going through above data we can interpret that Offers and discount are the major reasons which attract customers to a store, then comes price range and variety of Brand , so we should try to give more offers and discount which attract to all.
Family Friends Relatives Others
5- Which brand do you prefer the most here? a) DJ & C c) Knight Hood b) Lee Cooper d) Others specify
Interpretation: Maximum portion (72%) of the customers is coming for shopping twice in a week or more. It means shopping is a usual habit of a customer.
6- At what time do you like to shop most? No of Respondent DJ & C Lee Cooper Knight Hood Others
a) Afternoon c) Night b) Evening d) In your free time
Interpretation: Most of the Respondent prefers to go for shopping on weekends followed by Wednesday.
7- Why do you buy from here? a) Low pricing c) Better service b) Better Quality d) Others if, specify
No of Respondent Afternoon Evening Night In your free time
Interpretation: Maximum portion (41%) of the sample preferred shopping in the peak hrs that is 5pm 9pm Evening.
8- With whom do you shop? a) Family c) Relatives b) Friends d) Alone No of Respondent Low pricing Better Quality Better service Others
Interpretation: Most of the sample (48%) do shopping with their friends, next big portion (16%) use to go for shopping with their Parents
\ 9- What else do you want to find here? a) Variety c) More brand b) Colours d) Others if, specify
No of Respondent Family Friends Relatives Alone
Interpretation: Most of the customers (60%) do shopping for their family.
10- Are you loyal to one brand? a) Yes b) No
No of Respondent Variety Colours More brand Others
Interpretation: 80% of the sample mentioned that they spend all together 2hrs. in single visit of shopping. The lowest percentage of customers mentioned that they spend More than 3 Hour in a single visit of shopping.
11- What is your primary objective for coming her e? a) Max of varieties c) Discount b) Low price d) Others if, specify
No of Respondent Yes No
Interpretation: After going through above data we can interpret that most of the respondents made preplan before shopping.
12. How do you rate fashion section of Big Bazaar? a) Excellent c) Average b) Good d) Fair
No of Respondent Max of varieties Low price Discount Others
Interpretation: After going through above data we can interpret that most of the respondents are Spending their money on shopping in between Rs.1001-3000 followed by less than Rs.1000/month.
13-How much do you spend on fashion in a month? a) Below Rs 1000 c) Rs 1500-2000 b) Rs 1000-1500 d) Above Rs 2000
No of Respondent Excellent Good Average Fair
Interpretation: After going through above data we can interpret that most of the respondents are expect Latest trends and Fashion and quality from store merchandise
14-Do you feel that employee in fashion section are well vessed? a) Yes b) No
15-What alternatives do you have with respect to Big Bazaar? a) Geeta Fashion c) Pantaloons b) Metro Bazar d) Others if, specify
NO OF RESPONDENT Yes No
16-Is fashion at Big Bazaar Modern or Trendy? a) Yes b) No NO OF RESPONDENT Geeta Fashion Metro Bazar Pantaloons Others
Interpretation:
Sample says that the quality of merchandise is very good in Big bazaar.
17-Are you satisfied with the fashionable garments of Big Bazaar? a) Yes b) No
NO OF RESPONDENT Yes No
18-Are you aware about all the brands in fashion garments of Big Bazaar? a) Yes b) No
NO OF RESPONDENT Yes No
19-Do you feel that the fashion garments of Big Bazaar are adequate/sufficient enough? a) Yes b) No
NO OF RESPONDENT Yes No
NO OF RESPONDENT Yes No
FINDINGS
Maximum number of respondent like going to Big bazaar for shopping. From the analysis we find that a store with variety of brand as well as new fashion is preferred the most by consumer since he/she can compare the brand quality.
It has been found that most of the people in Cuttack like going to Big bazaar followed by Reliance bazaar.
Most of the respondent preferred going to a store twice in a month.
Most of the respondents preferred to shop in Big bazaar because of offers and discount.
Most of the respondents are expecting variety and quality from store merchandise.
It is found that most of the respondents are spending their money on shopping in between Rs.1001-3000 followed by less than Rs.1000/month.
It is found that most of the respondents made preplan before shopping.
It is found that most of the respondents preferred shopping in the peak hrs that is in the evening.
Most of the respondents preferred for shopping in the weekends mostly in the Saturdays and Sundays. Followed by Wednesday.
It is found that majority of customers are coming for shopping twice in a week or more. It means shopping is a usual habit of a customer.
It is very clear from above analysis that a store with book store is preferred the most by consumer since he/she can spend more time in such store.
Most of the respondents were found that they preferred to shop with friend.
From analysis we find that most of the customer preferred to shop for own.
RECOMMENDATION Shopping has become a more whole some experience today and the segment which Feels the need for the add-on offering is not complaining.
It was seen that, kurta section was the one where majority of the female customers were stressing on the limited variety. Concentration on this section will simultaneously help us to tackle the increasing competition from OTHER STORE in the Women Indian wear. In the Mens section, stock and varieties in T-Shirts has to be increased. For instance, full- sleeves T-Shirts. Also introducing new brands in this section is required. During the research period there were cases where customer has selected the design and pattern, but end-up without buying it due to non-availability of the required size. This problem can be solved till some extent if we immediately check for the required size at our other stores. New collections in Party wear have to be added in both Men and Women section. Unavailability of colors was the main issue in the Party wear section.
More frequent promotional activities are to be conducted in the store. During the research period it was known that many people were not aware about the available offers at the store. Innovation at regular interval required not only in products but also in customer services. Merchandise for all type of income levels should be available. We should try to keep the customer loyal to us so that his or her visits to the store increase or at least rewind them from switching to other store Customer loyalty program is must for retaining the customer since acquiring a new customer is five times more expensive then retaining an existing customer. Ambience of the store should be different and attractive so that the customer feels at ease each time he or she visits the store. Skilled personnel are required.
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