Big Bazaar Project

STUDY OF CUSTOMER SATISFACTION
NATIONAL SCHOOL OF BUSINESS Page 1

DECLARATION
I, Sooraj student of 4th Semester MBA with specialization in Marketing
of National School of Business Bangalore, hereby declare that this project
report entitled A Study of Customer Satisfaction at Big Bazaar is prepared
by me during the academic year 2011-2013 under the guidance and supervision
of Professor Sanjeev Chenjeri, National School of Business Bangalore.
I also declare that this project is original and has not been copied from
any other projects and not submitted to any other passion or institution.
Date :
Place : (KKR.SOORAJ)
TO WHOM SO EVER IT MAY CONERN
This is to certify that Mr.KKR.SOORAJ student of National
School of Business, Bangalore has carried out his project work
entitled A Study of Customer Satisfaction in Big Bazaar
Koramangala. During his project he has seriously examined and
analyzed the topic given by us. The result of his work seems to be
useful to our company.
We wish him for his future endeavors
For Future Value Retail Ltd
Sarath Kumar.V
Store people office
Koramangala.
ACKNOWLEDGEMENT
A Project usually falls short of its expectation unless guided by the right
person at the right time. Success of a project is an outcome of sincere efforts,
channeled in the right direction, efficient supervision and the most valuable
professional guidance.
This project would not have been completed without the direct and indirect
help and guidance of such luminaries. They provide me with the necessary
recourses and atmosphere conductive for healthy learning and training.
At the outset I would like to take this opportunity to gratefully
acknowledge the very kind and patient guidance I have received from my
project guide Mr. Sarath Kumar .Without his critical evaluation and suggestion
at every stage of the project, this report could not have reached its present form.
In addition, my internal guide Prof. Sanjeev Chenjeri, Faculty has critically
evaluated my each step in developing this project report.
Lastly, I would like to thank all the members of BIG BAZAAR and my
colleagues who gave me fruitful information to finish my project.
PREFACE
Summer Training in business organization is fuse among student a
sense of critical analysis of the real managerial situation to which they are
exposed. This gins the man opportunity to apply their conceptual theoretical &
imaginative skills in a real life situations and to evaluate the results there of.
BIG BAZAAR is a renowned name in Retail. BIG BAZAAR is now a
brand image in private retail sector. While my two month project, I was at
BIGBAZAAR to find potential of BIG BAZAAR on the presence of other
retail Stores.
Practical training through experts of BIG BAZAAR gave me actual
input to fulfill my real aim.
This report is the written account of what I learnt experienced during my
training. I wish those going through it will not only find it real but also get
useful information.
S.No Content
1 Introduction
2 Defining Customer Satisfaction:
3 Customer Satisfaction To A Company Can Be Defined As
4 Objective of the study
5 Industry profile
6 Brief History of the Company
7 Different formats of future group
8 Strategy of Big Bazaar
9 Vision
10 Mission
11 Innovations Of Big Bazaar
12 Achievements And Awards
13 Facilities Offered By Big Bazaar
14 Core value
15 Problem Discussion
16 Organization Chart
17 Research Definition
18 Research Objective
19 Research Methodology
20 Research Design
21 Limitations of the study
22 Nature of business carried
23 Quick Facts about Big Bazaar
24 Board of Directors
25 Chapter 1
25.1 Literature review
25.2 Customer Satisfaction
26 Chapter 3
26.1 SWOT Analysis
27 Chapter 4
27.1 Pictorial Representations
27.2 Interpretation
28 Chapter 5
28.1 Hypothesis testing
28.2 Factor Analysis
28.3 Results
Chapter 6
29.3 Conclusion
1. Introduction
Study of customer satisfaction at Big Bazaar & provide measures for retaining
customers.
2. Defining Customer Satisfaction:
It is a measurement or indicator of the degree to which customers or users of an
organizations products or services are pleased with those products or services.
3. Customer Satisfaction To A Company Can Be Defined As:
The company' s ability to fulfill the business, emotional, and psychological needs of its
customers;
Quality of service delivery expected by the customers.
An internal drive to satisfy an unsatisfied need of customer.
Providing good service in a pleasant manner and meeting the customer' s expectations;
The measure of the degree to which a product or service meets the customer's
expectations;
Comparison of expectations versus actual experience.
4. Objectives of the study
Track trends in customer satisfaction.
Obtain feedback on specific service attributes.
Identify areas to improve.
5. Industry 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 pantaloon 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 aver 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, it
helps 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 socio-
economic change in communities to help the Indian dream fly high and the sone ki
chidiya soar once again. This approach remains embedded in future group ethos even
as it rapidly expands its footprints deeper into India.
BIG BAZAAR is 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.
6. Brief History of the Company
Big bazaar was launched in September, 2001 with the opening of its first four
stores 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 Pantaloon Retail. Though Big bazaar was launched purely as a fashion
format 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 saravana
stores, a local store in T. Nagar, Chennai.
The stores are customized to provide the feel of mandis and melas while
offering the modern retail feature like Quality, Choice and convenience. As the modern
Indian familys favorite retail store, Big bazaar is popularly known as the Indian Wal
Mart.
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 Isse Sasta Aur Accha Kahin Nahin
7. Different Formats of Future Group
FORMAT -1
PANTALOON
Pantaloon Retail (India) Limited, is India's leading retail company with presence
across multiple lines of businesses. The company owns and manages multiple retail formats
that cater to a wide cross-section of the Indian society and is able to capture almost the entire
consumption basket of the Indian consumer. Headquartered in Mumbai (Bombay), the
company operates through 5 million square feet of retail space, has over 331 stores across 40
cities in India and employs over 17,000 people. The company registered a turnover of Rs.
2,019 crore for FY 2008-09.Pantaloon Retail forayed into modern retail in 1997 with the
launching of fashion retail chain, Pantaloons in Kolkata. In 2001, it launched Big Bazaar, a
hypermarket chain that combines the look and feel of Indian bazaars, with aspects of modern
retail, like choice, convenience and hygiene
Background:
Founded in 1987 as a garment manufacturing company, the company forayed into
modern retail in August 1997with the launch of its first department store, Pantaloons in
Kolkata.
FORMAT-2
CENTRAL:
Central, the showcase seamless mall concept is one of the more popular offerings in
the lifestyle segment that celebrates shopping in India. During the year, Central capitalized
on its positioning of beinga destination where citizens can just come and unwind, whether
its for shopping for a wide range of national and international brands, enjoying their favorite
cuisine at the multiple specialty restaurants and food courts or watching the latest movie
releases at the in- house multiplexes.
The most reputed brands are showcased in Central. It is also emerging as the
destination of first choice for new fashion brands in India. Central assures better visibility,
instant recognition, good quality and commercially viable space on the basis of the optimum
space utilization concept, taking the brand closer to the consumer. With brands within central
competing against the best brands in the country, it also allows benchmarking for these
brands.
The coming year will also witness many new concepts being introduced at all central
malls. Some of these concepts include communications (M Port and Gen M), electronics (E-
Zone), furniture and accents (Collection I), fitness equipments and wellness zones, books,
music, gifts & stationery (Depot) and fine dining restaurants etc. Some of the new alliances
that the group has entered into, like Etam and Lee Cooper will also share space within all
Central malls.
FORMAT-3
BIG BAZAAR
(Isse sasta aur accha kahin nahi!)
Big Bazaar has clearly emerged as the favorite 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, Big
Bazaar 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 with a complete look. So be it mens wear, womens wear, kids wear,
sportswear or party wear, Big Bazaar fashions has it all!
FORMAT-4
DEPOT
This largely untapped unorganized market for books and music with very few
players, throws up an enormous opportunity; something that prompted Pantaloon to make its
foray through its own format, Depot in 2005-06. Located as stand-alone stores and within
most Pantaloons, Central and Big Bazaar retail formats, Depots vision is to be a one-stop
shop where customers will find an extensive range of books, multimedia, toys, gifts and
stationery, thereby transforming the way books, music, multimedia and gifts are bought, sold
and perceived in India. This would be made possible by the creation of a portfolio of
exclusive titles, an Indian experience while shopping and connecting with the mind and soul
through different languages, ideas and tunes.
Books, Music and Gifts
Reading as a habit is ingrained into the Indian psyche from time immemorial.
However, it is being increasingly associated with a select few. The company believes that
existing formats in the segment offer an intimidating environment that alienates the masses.
The company has therefore taken this initiative of launching a chain of books, music
and gifts stores that will once again democratize the reading habit in the country. The
company believes that with 1.2billion people, the habit of reading can become a strong
business proposition. Depot seeks to work with communities in and around the area where it
is located and hopes to attract the entire family to spend quality time together. It is focusing
on the introduction of old classics and books in regional languages with an objective to make
these affordable to a mass audience.
FORMAT-5
FASHION STATION
Fashion Station, which represents the companys offering of the latest in fashion for
the masses, has met with reasonable success since its launch in 2004-05. These thematic
stores that offer the most contemporary in fashion and accessories, is another of the value
added propositions that Pantaloon seeks to offer. The inspirational mass of consumers who
are bombarded with the latest in style through media penetration, hedonism and peer
emulation, need an outlet that meets their requirements of trendy, latest and yet affordable
fashion. Fashion Station is positioned to meet their requirements, and thereby take fashion to
the masses.
FORMAT-6
FOOD BAZAAR
Across India, food habits vary according to community, customs and geography.
Food Bazaar, through its multiple outlets addresses this. At the same time it offers best
quality products at wholesale prices to a wide cross section of the India population. Food
Bazaar effectively blends the look, touch and feel of the Indian bazaar with the choice,
convenience and hygiene that modern retail provides.
The food and grocery division of the company was launched in 2002-03 and has
grown to 47 stores nationwide at the end of the current financial year. Most stores are located
within Big Bazaar, Central and Pantaloons and act as strong footfall generators. There are
separate stand-alone Food Bazaars as well. The business contributed just fewer than 50
percent of value retailing, and about 20 per cent to the companys turnover during 2005-06.
Food Bazaar offers a variety of daily consumption items which include staples, soaps and
detergents, oils, cereals and biscuits. On the product category side, the primary segregation is
done on the basis of staples, fresh produce, branded foods and home and personal care
products.
FORMAT-7
HOME IMPROVEMENT
Some of the key factors contributing to growth in the housing sector in India are
increasing purchasing power increasing number of nuclear families, softer interest rates, easy
availability of finance schemes and an overall real estate boom across the country. There is a
shortage of more than 33 million dwelling units. With the average age of a homebuyer
reducing from 50 to sub-30, 4 million new homes are being bought annually.
With every house, a dream is planted to decorate the house. And this creates a
demand for furniture, electronics and home improvement products. Modern retail is ideally
placed to capture a significant chunk of consumer spend made by a new homebuyer. The
market for home dcor and improvement is largely unorganized and hence a new home
owner has to literally visit several markets and stores for meeting his home needs.
With its presence in the modern retail and consumer space, this new concept was an
opportunity for the company to leverage its experience and offer the consumer an alternative
solution to canalize his consumption needs.
FORMAT-8
ELECTRONIC ZONE
In the Rs.25000 crore consumer durable industries, which are growing at nearly 6 per
cent every year, E-Zone has already emerged as a force to reckon with. This lifestyle retail
format offers a never experienced before environment for shopping for the best in national
and international consumer electronic and durables brands.
It retails products ranging from music systems to laptops, from the latest plasma
television sets to DVD players, from washing machines to air-conditioners to name a few.
Typically in excess of 12,000 square feet in size, E-Zones are primarily stand-alone concepts,
but are also present within the companys Central malls. During the year 2005-06, the
company had two stand-alone E-Zones operational at Indore and Bangalore, coupled with
another two E- Zones within the Bangalore and Pune Central Malls. The company has
earmarked significant expansion in this format for the coming year, with nearly20 more E-
Zones coming up across the country.
FORMAT-9
HEALTH BEAUTY & WELLNESS
Beauty, appearance and health consciousness is on the rise across socio-economic
segments in the country. With rising disposable incomes matched by a spurt in lifestyle-
induced illnesses, people are more than willing to experiment and spend on health, beauty
and wellness. The Indian consumer spends almost 8 per cent of his wallet share on health,
beauty and wellness, translating into a tremendous opportunity for this nascent sector .A
growing emphasis on holistic and preventive healthcare hasled to a boom in the fitness and
wellness industry.
8. 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.
9. Vision:
To deliver Everything, Everywhere, Every time for Every time for Every Indian
consumer in the most profitable manner.
Indias transformation into the legendary Sone ki Chidiya (golden bird),
taking wings once again to reach greater heights
10. 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, making
consumption 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.
11. Innovations of Big Bazaar
Wednesday Bazaar
Big Bazaar introduced the Wednesday Bazaar concept and promoted it as
Hafte Ka Sabse Sasta 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".
Sabse Sasta Din
With a desire to achieve sales of Rs 26 Crore in a one single day, Big Bazaar
introduced the concept of "Sabse Sasta 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 was increased from one day to three days in
2009 (24 to 26 Jan) and to five days in 2011 (22-26 Jan).
Maha Bachat
Maha Bachat was started off in 2006 as a single day campaign with attractive
promotional offers across all Big Bazaar stores. Over the years 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.
12. 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 Lower Parel 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 and ICICI Bank launched 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.
Pantaloon 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 Consumer 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.
Vidya Balan was 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.
13. Facilities Offered By Big Bazaar
Online shopping: Big bazaar has an official website FutureBazaar.com, which is one
of the most favorite sites among people of India for online shopping. Future bazaar is
an online business venture of Future group, which sells an assortment of products such
as fashion, which includes merchandise for men and women, mobile handsets and
electronics like home theatres, video cameras, digital cameras, LCD TVs, kitchen
appliances and many more.
Discounts: Hfte ka sabse sasta din was introduced by Big Bazaar, wherein extra
and special discounts were offered on Wednesday every week, to attract the potential
buyers into their store.
Security check: At each exit of Big Bazaar, they use alarm system or electronic article
surveillance system, which detects the problem that has attached tags or not.
Future value retail on the value retail segments through the Big Bazaar, Food
Bazaar and KBs fair price formats.
In a highly competitive retail marketplace with changing consumer preference,
different formats and large geographical spread, retail logistic is a critical business
activity.
At Future Group we believe the viability of a retail operation hinges as much on
achieving efficient logistic and supply chain as it does on attaining success at the front
end.
A seamless logistic function to move our products from the manufacturer to our
store shelves is at the heart of our retail operation. Our robust presence in logistic and
supply chain helps us move million of products to customers each day of the year
across India in the most efficient and cost-efficient manner.
14. Core Values:
Indianness: Confidence in ourselves.
Leadership: To be a leader, both in thought and business.
Respect & Humanity: To respect every individuals and be humble in our conduct.
Introspection: Leading to purposeful thinking.
Openness: To be open and receptive to new ideas, knowledge and information.
Valuing and Nurturing Relationships: To build long term relationships.
Simplicity & Positivity: Simplicity and Positivity in our thought, business and work.
Adaptability: To be flexible and universal laws of nature.
Flow: To respect and understand the universal laws of nature.
15. Proble m Discussion
Alt hough t he int er net channel incr easingly has been used by many
onli ne shops; but many onl ine ret ailer s are shut down. I n a compet it ive
market place underst anding customer s needs become crucial. Ther efore,
companies have moved from a product- cent r ic to a cust omer- cent r ic posit ion.
Customer retent ion is direct ly infl uenced by customer sat isfact ion. Ret ent ion
is a major chal lenge par t icularly in i nt er net based services, as cust omer s can
easi ly swit ch fr om one ser vice provider to anot her at low cost. Consider ing
t he high costs of acquir ing new cust omers and t he appar ent ly high customer
t urn over of many onl ine ser vices, it is ver y impor t ant to st udy t he
deter mi nant s of cust omer sat isfact ion.
Customer satisfaction is the key factor determining how successful the organization
will be in customer relationships, therefore it is very important to measure it. Total quality
management (TQM) is based on the idea of customer satisfaction a management approach
of an organization centered on quality, based on the participation of all its members and
aiming at long-term success through customer satisfaction and benefits to all members of the
organization and to society (ISO 8402). The achievement of true customer satisfaction
involves: customer oriented culture; an organization that centers on the customer; employee
empowerment; process ownership; team building; and Partnering with customers and
suppliers.
In the other words:
Improvement of the firms reputation and image.
Reduction of customer turnover; increased attention to customer needs in TQM
planning;.
Reduction of marketing costs and, vice versa, lower transaction costs.
Reduction of costs related to product/service failures; and lastly increased satisfaction
among personnel and greater stability of the workforce.
There are several benefits for quality to be found via market research, particularly in
measuring the satisfaction levels of current customers, determining customer needs for
product development, and analyzing customer retention and loyalty. To better manage
customer satisfaction, firms spend millions on effectively tracking the methods that guarantee
customer satisfaction, because the quantitative measurement of customer satisfaction is a
great help for comprehensively easuringthe effect of product quality on customer behavior.
As what Ingrid Fecikova, 2004 illustrates in Figure 3; Customer satisfaction as
discussed above leads to profitability and service quality is the main factor of it, especially in
online trading, so it is clear that service quality indirectly affects the stakeholders benefits.
Store Manager
16. Organization Chart
Visual
Merchandising
Asst DM
House
Keeping
Security
Marketing
Sales
Manager
Info
Maintenance
Administration
CSD
HR
Manager
Team
Member
Team
Leader
Asst DM
Asst Store Manager
Cashier
Dept
Manager
Why and how to measure Customer Satisfaction?
Most companies say that they believe in great customer service, but few set up a
system to ensure that they provide it. To deliver excellent customer service takes both
understanding what your customers want and the way to see that they receive it.
17. Research Definition
The word research is derived from the Latin word meaning to know. It is a systematic
and a replicable process, which identifies and defines problems, within specified boundaries.
It employs well-designed method to collect the data and analyses the results. It disseminates
the findings to contribute to generalize able knowledge. The main characteristics of research
presented below are:
Systematic problem solving which identifies variables and tests relationships between
them.
Collecting, organizing and evaluating data.
Logical, so procedures can be duplicated or understood by others.
Empirical, so decisions are based on data collected.
Reductive, so it investigates a small sample which can be generalized to a larger
population
Replicable, so others may test the findings by repeating it.
Discovering new facts or verify and test old facts.
Developing new scientific tools, concepts and theories, this would facilitate to take
decision.
For the proper analysis of data simple statistical techniques such as percentage were
use. It helps in making more generalization from the data available. The data which will be
collected from a sample of population was assumed to be representing entire population was
interest. Demographic factors like income and educational background was used for the
classification purpose.
18. Research Objective:
The main objective of the study is to find out the level of satisfaction among the
customers.
Understanding the expectations and requirements of all the customers.
Determining how well the company and its competitors are satisfying these
expectations and requirements.
Developing service and/or product standards based on your findings.
Examining trends over time in order to take action on a timely basis.
Establishing priorities and standards to judge how well you have met these goals and
How they implement their policies to satisfy them.
19. Research Methodology:
The quality and reliability of research study is dependent on the information collected
in a scientific and methodological manner. Scientific planning of designing of research
method is a blue print for any research study. Therefore, proper time and attention should be
given in designing the plan of research. While proper definition of problem tells the
researcher where he has to go, proper design tells him how he should go. Selection of
methodology for a particular project is made easy by sorting out a number of alternative
approaches, each of them having its own advantage and disadvantages. Efficient design is
that which ensure that the relevant data are collected accurately.
The researcher has to think about what procedure and techniques should be adopted
in the study. He should arrive at the final choice by seeing that the methodology chosen for
project is indeed the best one, when compared with others.
20. Research Design:
Research design is the first and foremost step in methodology adopted and
undertaking research study. It is overall plan for the collection and analysis of data in the
research project. Thus it is an organized, systematic approach to be the formulation,
implementation and control of research project.
In fact a well planned and well balanced research design guards against collection of
irrelevant data and achieves the result in the best possible way.
Primary Data
Data which is collected from some primary sources are called primary data. Primary
source means the source of origin from where the data generate. Under this research the main
tool for collecting data was questionnaire.
Sample Information
I have used Random sampling method in koramangala Big Bazaar because it assures
that I will be able to represent not only the overall population, but also key subgroups of the
population, especially small minority groups.
Sampling Technique
Under simple random sampling I had Rated their suggestions, the customers of Big
Bazaar were subdivided into five homogeneous groups on the basis of their age that is called
Strata. Then a Strata of hundred customers were selected from each subgroup.
Size of sample
Since the degree of accuracy is directly proportional to the sample size, so I had taken
a sample of 100 customers. Since there are different categories of customers and these are
less homogenous so I had taken a large sample.
Data Analysis
For quantitative data analysis, statistical tools of Microsoft excel and open stat are
used for data input and analysis. The statistics results are presented by graphical form with
detail description.
The Questionnaire is valid externally since the sample was able to represent the entire
population which gave me scope to generalize the results to entire population. The
structuring of questionnaire is done, in such a way that it has got internal validity. The level
of data used is of interval scale which makes the rating scale to be appropriate.
After collecting all the data the process of analysis begins. To summarize and
rearrange the data several interrelated procedure are performed during the data analysis stage.
Data after collection has to be presented in the form of tables, diagrams and graphs. It is only
after presentation that data can be analyzed, interpreted and inferences can be drawn.
The likert scale has been used for getting the responses through questionnaire.
I used 5 point scale, which are assigned to degree of satisfaction level of the
respondent with regard to the effectiveness of training which was imparted to them during
the last year.
5 4 3 2 1
Strongly
Agree
Agree
Neither agree
nor disagree
Disagree
Strongly
Disagree
21. Limitations of the study:
Time limit is major constraints.
As per company rules some information was disclosed.
The respondents may not be true in filling up the questionnaire.
The study was only confined to100 respondents.
As the managers are busy in their daily schedules it is not possible for us to spend more
time in interaction and discussion with them.
22. Nature of business carried
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.
The Big Bazaar has been positioned to the customers as a place where the
customer can shop for each and everything for which he or she goes to market. Some of
the key categories are:
Food Bazaar: All food items, pulses, grains, fruits, vegetables etc
One Mobile: A mobile shop offering latest and affordable handsets
Apparel: For ladies, men and kids for all season, western, ethnic, casuals and
formals
Home Appliances: All kitchen Appliances like utensils, plastic wear, Mixer
Grinder, Toaster, Microwave, Juicer etc.
Home Fashion: Accessories, Luggage, gift items and many more
Furniture Bazaar: Offers entire range of Home furniture at affordable pricing
Electronic Bazaar: Offers the best deals in branded electronic goods and
appliances.
Watches, clocks, optical accessories, camera rolls, beauty products, stationery
etc.
23. Quick Facts About Big Bazzar:
TYPE: subsidiary of FVRL
FOUNDED: 2001
HEAD QUATERS: Mumbai
INDUSTRY: Retail
PARENT: Future value group
OWNER: Kishore Biyani
WEBSITE: www.fvrl.com/bigbazzar.com.
TAGLINE: Is se sastha aur achha kahin nahi(Nothing cheaper and better
anywhere).
24. Board of Directors:
Mr. Kishore Biyani, Managing Director
Mr. Gopikrishnan Biyani, Whole Time Director
Mr. Rakesh Biyani, CEO Retail
Ved Prakash Arya, Independent Director
Mr. Shailesh Haribhakti, Independent Director
Mr. S.Doreswamy, Independent Director
Dr. D.O.Koshy, Independent Director
Ms. Anju Poddar, Independent Director
Ms.Bala Deshpande, Independent Director
Mr.Anil Harish, Independent Director
25.1. Literature review
This chapter will give an overview of literature and models that are related to the
research problem presented in the previous chapter. This chapter will introduce the concepts
of customer satisfaction, service quality, relation between customer satisfaction and service
quality, traditional service quality dimensions, online service quality dimensions and service
quality model of online retailing in order to give a clear idea about the research area.
According to Kotler-Customer satisfaction depends on the products perceived
performance relative to buyers expectations. If the product performance falls short of
expectations, the customer is dissatisfied. If performance matches expectations, the customer
is satisfied. If performance exceeds expectations, the customer is highly satisfied or
delighted.
Outstanding marketing companies go out of their way to keep important customers
satisfied. Highly satisfied customers make a repeat purchases and tell others about their good
experience with the product. The key is to match customer expectation with company
performance. Smart companies aim to delight customers by promising only what they can
deliver, then delivering more than they promise.
However, although the customer-centered firm seeks to deliver high customer
satisfaction relative to competitors, it does not attempt to maximize customer satisfaction.
A company can always increase customer satisfaction by lowering its price or
increasing its services. But this may result in lower profits. Thus, the purpose of marketing is
to generate customer value profitability. This requires a very delicate balance: The marketer
must continue to generate more customer value and satisfaction but not give away the
house.
The gulf between satisfied customers and completely satisfied customers can swallow a
business.
25.2. Customer Satisfaction
There are two principal interpretations of satisfaction within the literature of
satisfaction as a process and satisfaction as an outcome.Early concepts of Satisfaction
research have typically defined satisfaction as a post choice evaluative judgment concerning
a specific purchase decision
The most widely accepted model, in which satisfaction is a function of
disconfirmation, which in turn is a function of both expectations and performance. The
disconfirmation paradigm in process theory provides thegrounding for the vast majority of
satisfaction studies and encompasses four constructs expectations, performance,
disconfirmation and satisfaction. This model suggests that the effects of expectations are
primarily through disconfirmation, but they also have an effect through perceived
performance, as many studies have found a direct effect of perceived performance on
satisfaction. Swan and Combs were among the first to argue that satisfaction is associated
with performance that fulfils expectations, while dissatisfaction occurs when performance
falls below expectations. In addition, Poisz and Von Grumbkow view satisfaction as a
discrepancy between the observed and the desired. This is consistent with value-percept
disparity Theory which was developed in response to the problem that consumers could be
satisfied by aspects for which expectations never existed. The value-percept theory views
satisfaction as an emotional response triggered by a cognitive-evaluative process. In other
words, it is the comparison of the ``object to ones values rather than an expectation.
Customers want a meeting between their values (needs and wants) and the object of their
evaluations. More recently, renewed attention has been focused on the nature of satisfaction
emotion, fulfillment and state. Consequently, recent literature adds to this perspective in
two ways. First, although traditional models implicitly assume that customer satisfaction is
essentially the result of cognitive processes, new conceptual developments suggest that
affective processes may also contribute substantially to the explanation and prediction of
consumer satisfaction. Second, satisfaction should be viewed as a judgment based on the
cumulative experience made with a certain product or service rather than a transaction-
specific phenomenon. There is general agreement that: Satisfaction is a persons feelings of
pleasureor disappointment resulting from comparing a products perceived performance (or
outcome) in relation to his or her expectations. Based on this review, customer satisfaction is
defined as the result of a cognitive and affective evaluation, where some comparison standard
is compared to the actually perceived performance. If the perceived performance is less than
expected, customers will be dissatisfied. On the other hand, if the perceived performance
exceeds expectations, customers will be satisfied. Otherwise, if the perceived expectations
are met with performance, customers are in an indifferent or neutral stage. Customer
satisfaction is defined as a customers overall evaluation of the performance of an offering to
date. This overall satisfaction has a strong positive effect on customer loyalty intentions
across a wide range of product and service categories (Gustafsson, 2005). The satisfaction
judgment is related to all the experiences made with a certain business concerning its given
products, the sales process, and the after- sale service. Whether the customer is satisfied after
purchase also depends on the offers performance in relation to the customers expectation.
Customers form their expectation from past buying experience, friends and associates
advice, and marketers and competitors information and promises (Kotler, 2000). Factors
which determine the extent of expectations are: customer needs, total customer value and
total customer cost. It is mentioned by researchers who study customer choice that choosing
a product or service is only one of the stages customers go through. A purchase decision is
influenced by the buyers characteristics. These include cultural, social, personal and
psychological factors. In addition to the buyers characteristics, a purchase decision is
influenced by the buyers decision process. The typical buying process develops through five
stages: 1 new recognition; 2 information search; 3 information evaluation; 4 purchase
decision; and 5 post- purchase evaluation. Searching for information is a key stage of a
consumers decision-making process and may include a search for both internal and external
information. As the perceived risk of a purchase decision increases, consumers search for
more information in order to cope with uncertainties about the potential positive or negative
consequences.
Although buyers may skip or reverse some stages, basically they pass sequentially
through all five stages in buying a product. Value reflects what customers do in evaluating,
obtaining, using and disposing of the product or service. Values can be defined as principles
or standards of an individual as a whole. They reflect an individual judgment as to what is
valuable or important in life. Customer delivered value is a result of comparison of total
customer value with total customer cost. Information about the opinion of the customer
regarding a product or service is of essential importance, and can be obtained in several
ways, such as customer surveys, phone interviews, and customer panel discussions. It is also
important to measure customer orientation continuously. (Rampersad, 2001). What the
company thinks its customer wants Is not necessarily the same as What the company thinks it
has to offer is not necessarily the same as What the company actually offers is not necessarily
the same as How the customer experiences this is not necessarily the same as What the
customer really wants (Hubert Rampersad, 2001). Mohamed Zairi (2000) developed figure 4
which shows in order to have a continuous improvement of customer satisfaction there
should be a cycle which starts with listening to voice of customers then analyzing their
comments, developing actions and at the end implementing.
What we need to measure?
Organizations can understand the satisfaction of their customers through the number
of problem calls; the number of complaints by e- mail, phone, etc.; and/or the number of
returned products. It is somehow the measurement of customer dissatisfaction (no
satisfaction) and offers a possibility for the elimination of falls, not a possibility for product
development and product innovation. Companies should gather and analyze the suitable data,
which will provide relevant information to real customer satisfaction. It is important to
measure the right things, i.e. what is really important for the customers. There is the
possibility of wrong specifications or misinterpretations of what a customer actually wants
(the gap between what companies think customers probably want and what customers really
want). Criteria for the measurement of customer satisfaction must be defined by the
customer. Many organizations determine the criteria for measurement internally, but
suppliers rarely have an accurate understanding of customer priorities. It is a problem
with measuring the performance dimensions that are not critical drivers of value to the
customers (value in the eye of customers, not in the eye of organizations). The solution for
this problem, to provide real insight into the market needs, is to filter out irrelevant
information and concentrate on the few dimensions that really matter.
For evaluation of information, which we will achieve by pre-study, we can use the
histogram. The histogram shape shows how some questions in the questionnaire were
understood by respondents. For example: no-rectangular distribution means
misunderstanding a question, etc. After a simple pre-study the companies can find support
for their assumptions and simultaneously create a new, more effective, questionnaire. If we
have a set of customer demands and expectations we can translate them into technical
product features by using, e.g. the QFD methodology. Very important also is determining the
specific features, which mean a limited number of critical measures in order to avoid
information overload. There are various methods (various approaches) for (to) the
measurement of customer satisfaction.
26.1. 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
27.1. Pictorial Representations:
1. How frequently you will visit Big Bazaar?
Options Ratings
Once in a week 35
Twice a week 22
Monthly once 43
35
22
43
0
5
10
15
20
25
30
35
40
45
50
Rating
Once in a week
Twice a week
Monthly once
2. Do you agree or disagree the following:
2(a) The store is conveniently located
Options Ratings
Strongly Agree 57
Agree 31
Neither Agree nor Disagree 7
Disagree 4
Strongly Disagree 1
57
31
7
4
1
0
10
20
30
40
50
60
Ratings
Strongly Agree
Agree
Neither Agree nor Disagree
Disagree
Strongly Disagree
2(b) Parking is adequate
Options Ratings
Strongly Agree 11
Agree 47
Disagree 13
Strongly Disagree 1
11
47
28
13
1
0
5
10
15
20
25
30
35
40
45
50
Ratings
Strongly Agree
Agree
Neither Agree nor
Disagree
Disagree
Strongly Disagree
2(c) The shop is well laid out
Options Ratings
Strongly Agree 15
Agree 45
Disagree 9
Strongly Disagree 2
15
45
29
9
2
0
5
10
15
20
25
30
35
40
45
50
Ratings
Strongly Agree
Agree
Disagree
Strongly Disagree
2(d) Stores hours are convenient for my shopping needs
Options Ratings
Strongly Agree 30
Agree 54
Disagree 5
Strongly Disagree 0
30
54
11
5
0
10
20
30
40
50
60
Ratings
Strongly Agree
Agree
Disagree
Strongly Disagree
2(e) The store is clean and tidy
Options Ratings
Strongly Agree 20
Agree 46
Disagree 10
Strongly Disagree 1
20
46
23
10
1
0
5
10
15
20
25
30
35
40
45
50
Ratings
Strongly Agree
Agree
Disagree
Strongly Disagree
2(f) The store has pleasant shopping atmosphere
Options Ratings
Strongly Agree 22
Agree 29
Disagree 18
Strongly Disagree 0
22
29
31
18
0
5
10
15
20
25
30
35
Ratings
Strongly Agree
Agree
Neither Agree nor
Disagree
Disagree
Strongly Disagree
2(g) The store has the lowest price in the area
Options Ratings
Strongly Agree 33
Agree 34
Disagree 13
Strongly Disagree 2
33
34
18
13
2
0
5
10
15
20
25
30
35
40
Ratings
Strongly Agree
Agree
Neither Agree nor
Disagree
Disagree
Strongly Disagree
2(h) Goods sold is of the high quality
Options Ratings
Strongly Agree 15
Agree 31
Disagree 22
Strongly Disagree 3
15
31
29
22
3
0
5
10
15
20
25
30
35
Ratings
Strongly Agree
Agree
Disagree
Strongly Disagree
2(i) The goods sold is good value for the money
Options Ratings
Strongly Agree 34
Agree 36
Disagree 11
Strongly Disagree 3
34
36
16
11
3
0
5
10
15
20
25
30
35
40
Ratings
Strongly Agree
Agree
Disagree
Strongly Disagree
2(j) Goods displays are attractive
Options Ratings
Strongly Agree 17
Agree 47
Disagree 10
Strongly Disagree 2
17
47
24
10
2
0
5
10
15
20
25
30
35
40
45
50
Ratings
Strongly Agree
Agree
Disagree
Strongly Disagree
2(k) There is a good choice of product in each range
Options Ratings
Strongly Agree 22
Agree 30
Disagree 20
Strongly Disagree 1
22
30
27
20
1
0
5
10
15
20
25
30
35
Ratings
Strongly Agree
Agree
Disagree
Strongly Disagree
2(l) The products you require are generally available
Options Ratings
Strongly Agree 16
Agree 42
Disagree 24
Strongly Disagree 2
16
42
16
24
2
0
5
10
15
20
25
30
35
40
45
Ratings
Strongly Agree
Agree
Neither Agree nor
Disagree
Disagree
Strongly Disagree
2(m) The special offers that are available well advertised
Options Ratings
Strongly Agree 25
Agree 39
Disagree 16
Strongly Disagree 1
25
39
19
16
1
0
5
10
15
20
25
30
35
40
45
Ratings
Strongly Agree
Agree
Disagree
Strongly Disagree
2(n) Employees are helpful and knowledgeable
Options Ratings
Strongly Agree 20
Agree 48
Disagree 13
Strongly Disagree 1
20
48
18
13
1
0
10
20
30
40
50
60
Ratings
Strongly Agree
Agree
Disagree
Strongly Disagree
2(o) Home delivery service is good
Options Ratings
Strongly Agree 14
Agree 36
Disagree 11
Strongly Disagree 5
14
36
34
11
5
0
5
10
15
20
25
30
35
40
Ratings
Strongly Agree
Agree
Neither Agree nor
Disagree
Disagree
Strongly Disagree
3. When a customer has a problem, this store shows a sincere interest in
solving it.
Options Ratings
Yes 57
No 24
Sometimes 19
57
24
19
0
10
20
30
40
50
60
Yes No Sometimes
Ratings
Yes
No
Sometimes
4. This store is providing more offers comparing to other stores.
Options Ratings
Yes 52
No 48
52
48
46
47
48
49
50
51
52
53
Yes No
Ratings
Yes
No
5. How would you rate products and services against other competitors?
If the scale is from 1to 10
It is generally accepted by the customers that goods and services of Big Bazaar is
generally good. From the distribution given above itself it is clear that most people
think that goods and services of Big Bazaar is of average to good quality. The highest
frequency is at 8 in the rating scale. But it is also a concern that there is not even a
single response at rating 10 which shows the requirement of improvement in goods
and services.
0 0
2
11
18
19
17
27
6
0
0
5
10
15
20
25
30
1 2 3 4 5 6 7 8 9 10
Ratings
27.2. Interpretation
Since the study was about customer satisfaction, I considered different parameters
like store location, layout, availability of product, pricing of product, promotion of product
and interaction of employees with customers.
I evaluated this parameters on a rating scale (1-5) where 5 being the highest and 1
being the lowest.
About the store location and layout customers were highly satisfied. There was only
very few customers who were not satisfied about the layout and location.
Majority of people think that the store is just clean enough, and a large number of
people think that the store is average in cleanliness (neither very clean nor dirty)
Regarding the ambience of the store also people are just happy and not very happy
(a feature may be common with a store like Big Bazaar), but there are many people
who are being neutral in their opinion which might be a reflection of requirement of a better
shopping ambience).
In case of response to the question of being Big Bazaar as the store with lowest price
in the area, many people agree to this and this is an indication Big Bazaar is a low price store
Most people doesnt have a strong opinion about goods in Big Bazaar being of high
quality, most people think of it as a reasonable quality. This can be mixed response coming
out of two things. Firstly the general belief of low quality associated with lower price and
secondly Big Bazaar being a trusted house for buying. So people just agree it to be of good
quality.
When compared with the previous response about quality most people strongly agree
that goods bought from big bazaar is good value for money. Most people belong to the
strongly agree and agree response category for this question.
Nearly 50% of people agree that goods are well arranged but there is an almost
equally distributed mixed response from strongly agree to disagree to the availability of a
wide range of products in each category. Now this mixed response can be due to respondents
being from different buying category and may be in certain category there is a wide range of
goods.
28.1. Hypothesis testing
Testing for the value of goods and quality of goods.
Step-1:
Null hypothesis:
Customer satisfaction for quality of goods and value of goods are same
Alternative:
Not equal
Step-2:
Confidence level =95%
Significance level =0.05
Step-3:
Test criterion
Step-4:
Calculate Z
where
X
bar2
=3.870 X
bar1
=3.330
s
1=1.074
s
2=1.098
Z= 2.6973
n
1
=100 n
2
=100
Test criterion is greater than -1.96, so reject null hypothesis
Accept alternative hypothesis
From the its found that quality of goods and value of the goods are not the same, which
shows that customers are expecting better quality for the money they paid.
28.2. Factor Analysis
The aim of factor analysis is orderly simplification of interrelated data
Factor analysis is frequently used for data reduction
A set of variables is represented by a fewer number of factors with little loss of
information; factors are a linear combination of the original variables
It is also commonly used for structure detection: to uncover relationships between
Variables (R Analysis)
Cases (Q Analysis)
Factor analysis may be
Exploratory (number and nature of factors unknown at the start)
Confirmatory (factors hypothesized, study seeks to verify hypothesis)
There are several methods for extracting factors: we will discuss briefly, Principal
Components Analysis (PCA)
Carrying out Factor Analysis:
Inspect data
Select variables
Select extraction method
Determine number of factors
Select rotation method
Interpret results
Conditions for use
Factor analysis:
I have done factor analysis for simplification of data and to find interrelation between
them. The method i followed is principal component analysis. The correlation matrix gives
the measure of interrelatedness.
Kaiser-Meyer-Olkin MSA statistic = 0.520.
KMO is the measure of sampling adequacy it should be greater than 0.5
since I have got the value more than 0.5 the analysis is appropriate.
I have decided the optimum number of factors with the help of the screen plot.
I have extracted those factors which where having eigen value of greater than 0.1.
Varimax Rotated Loadings
I have got 4 factors after rotating the factors. Total percentage of the variance
explained by the factors was 49.
Correlations
2nd(a) 2nd(b) 2nd(c) 2nd(d) 2nd(e) 2nd(f)
2nd(a) 1.000 0.235 0.176 -0.083 0.191 -0.005
2nd(b) 0.235 1.000 -0.092 -0.129 -0.048 0.014
2nd(c) 0.176 -0.092 1.000 -0.036 0.167 0.277
2nd(d) -0.083 -0.129 -0.036 1.000 -0.037 0.290
2nd(e) 0.191 -0.048 0.167 -0.037 1.000 0.183
2nd(f) -0.005 0.014 0.277 0.290 0.183 1.000
2nd(g) 0.279 0.139 -0.124 -0.025 -0.202 0.037
2nd(h) 0.383 0.065 0.139 -0.144 0.128 0.136
2nd(i) 0.225 0.186 0.101 -0.128 -0.093 0.144
2nd(j) -0.014 -0.026 0.273 0.082 0.189 0.283
2nd(k) 0.149 0.010 0.191 -0.044 -0.045 0.277
2nd(l) 0.141 -0.082 0.157 -0.181 0.090 -0.111
2nd(m) 0.037 -0.058 -0.032 0.255 0.119 0.225
2nd(n) -0.091 -0.005 0.146 -0.048 0.079 0.172
2nd(o) 0.333 -0.157 -0.050 -0.074 0.034 -0.035
Correlations
2nd(g) 2nd(h) 2nd(i) 2nd(j) 2nd(k) 2nd(l)
2nd(a) 0.279 0.383 0.225 -0.014 0.149 0.141
2nd(b) 0.139 0.065 0.186 -0.026 0.010 -0.082
2nd(c) -0.124 0.139 0.101 0.273 0.191 0.157
2nd(d) -0.025 -0.144 -0.128 0.082 -0.044 -0.181
2nd(e) -0.202 0.128 -0.093 0.189 -0.045 0.090
2nd(f) 0.037 0.136 0.144 0.283 0.277 -0.111
2nd(g) 1.000 0.306 0.320 -0.037 0.198 0.193
2nd(h) 0.306 1.000 0.045 -0.021 0.034 0.250
2nd(i) 0.320 0.045 1.000 0.153 0.211 0.152
2nd(j) -0.037 -0.021 0.153 1.000 0.151 0.130
2nd(k) 0.198 0.034 0.211 0.151 1.000 0.182
2nd(l) 0.193 0.250 0.152 0.130 0.182 1.000
2nd(m) 0.114 0.005 -0.016 0.137 0.126 0.012
2nd(n) -0.075 -0.089 0.062 0.223 0.215 -0.006
2nd(o) 0.158 0.255 0.005 -0.186 -0.131 0.174
Correlations
2nd(m) 2nd(n) 2nd(o)
2nd(a) 0.037 -0.091 0.333
2nd(b) -0.058 -0.005 -0.157
2nd(c) -0.032 0.146 -0.050
2nd(d) 0.255 -0.048 -0.074
2nd(e) 0.119 0.079 0.034
2nd(f) 0.225 0.172 -0.035
2nd(g) 0.114 -0.075 0.158
2nd(h) 0.005 -0.089 0.255
2nd(i) -0.016 0.062 0.005
2nd(j) 0.137 0.223 -0.186
2nd(k) 0.126 0.215 -0.131
2nd(l) 0.012 -0.006 0.174
2nd(m) 1.000 0.222 -0.061
2nd(n) 0.222 1.000 -0.116
2nd(o) -0.061 -0.116 1.000
No. of valid cases = 100
Kaiser-Meyer-Olkin MSA statistic = 0.520
Principal Components Analysis
Correlation Matrix Factor Analyzed
2nd(a) 2nd(b) 2nd(c) 2nd(d) 2nd(e) 2nd(f)
2nd(a) 1.000 0.235 0.176 -0.083 0.191 -0.005
2nd(b) 0.235 1.000 -0.092 -0.129 -0.048 0.014
2nd(c) 0.176 -0.092 1.000 -0.036 0.167 0.277
2nd(d) -0.083 -0.129 -0.036 1.000 -0.037 0.290
2nd(e) 0.191 -0.048 0.167 -0.037 1.000 0.183
2nd(f) -0.005 0.014 0.277 0.290 0.183 1.000
2nd(g) 0.279 0.139 -0.124 -0.025 -0.202 0.037
2nd(h) 0.383 0.065 0.139 -0.144 0.128 0.136
2nd(i) 0.225 0.186 0.101 -0.128 -0.093 0.144
2nd(j) -0.014 -0.026 0.273 0.082 0.189 0.283
2nd(k) 0.149 0.010 0.191 -0.044 -0.045 0.277
2nd(l) 0.141 -0.082 0.157 -0.181 0.090 -0.111
2nd(m) 0.037 -0.058 -0.032 0.255 0.119 0.225
2nd(n) -0.091 -0.005 0.146 -0.048 0.079 0.172
2nd(o) 0.333 -0.157 -0.050 -0.074 0.034 -0.035
2nd(g) 2nd(h) 2nd(i) 2nd(j) 2nd(k) 2nd(l)
2nd(a) 0.279 0.383 0.225 -0.014 0.149 0.141
2nd(b) 0.139 0.065 0.186 -0.026 0.010 -0.082
2nd(c) -0.124 0.139 0.101 0.273 0.191 0.157
2nd(d) -0.025 -0.144 -0.128 0.082 -0.044 -0.181
2nd(e) -0.202 0.128 -0.093 0.189 -0.045 0.090
2nd(f) 0.037 0.136 0.144 0.283 0.277 -0.111
2nd(g) 1.000 0.306 0.320 -0.037 0.198 0.193
2nd(h) 0.306 1.000 0.045 -0.021 0.034 0.250
2nd(i) 0.320 0.045 1.000 0.153 0.211 0.152
2nd(j) -0.037 -0.021 0.153 1.000 0.151 0.130
2nd(k) 0.198 0.034 0.211 0.151 1.000 0.182
2nd(l) 0.193 0.250 0.152 0.130 0.182 1.000
2nd(m) 0.114 0.005 -0.016 0.137 0.126 0.012
2nd(n) -0.075 -0.089 0.062 0.223 0.215 -0.006
2nd(o) 0.158 0.255 0.005 -0.186 -0.131 0.174
2nd(m) 2nd(n) 2nd(o)
2nd(a) 0.037 -0.091 0.333
2nd(b) -0.058 -0.005 -0.157
2nd(c) -0.032 0.146 -0.050
2nd(d) 0.255 -0.048 -0.074
2nd(e) 0.119 0.079 0.034
2nd(f) 0.225 0.172 -0.035
2nd(g) 0.114 -0.075 0.158
2nd(h) 0.005 -0.089 0.255
2nd(i) -0.016 0.062 0.005
2nd(j) 0.137 0.223 -0.186
2nd(k) 0.126 0.215 -0.131
2nd(l) 0.012 -0.006 0.174
2nd(m) 1.000 0.222 -0.061
2nd(n) 0.222 1.000 -0.116
2nd(o) -0.061 -0.116 1.000
Varimax Rotated Loadings
FACTORS
Factor 1 Factor 2 Factor 3 Factor 4
2nd(a) 0.002 0.044 0.216 0.709
2nd(b) -0.025 -0.044 -0.122 0.519
2nd(c) 0.206 0.661 -0.146 -0.100
2nd(d) -0.149 -0.107 -0.158 0.761
2nd(e) 0.307 0.598 0.479 0.035
2nd(f) 0.078 0.587 0.042 0.467
2nd(g) 0.413 -0.185 0.646 0.209
2nd(h) 0.729 0.030 0.056 0.017
2nd(i) 0.144 0.244 0.652 -0.066
2nd(j) -0.059 0.664 0.007 0.130
2nd(k) 0.048 0.469 0.551 0.124
2nd(l) 0.556 0.255 0.086 -0.276
2nd(m) 0.038 0.150 0.032 0.666
2nd(n) -0.215 0.092 0.082 0.523
2nd(o) 0.651 -0.292 -0.175 0.006
Percent of Variation in Rotated Factors
Factor 1 13.842
Factor 2 13.546
Factor 3 11.255
Factor 4 10.396
Total Percent of Variance in Factors : 9.040
28.3. Results
I have grouped factor loadings which are greater than 0.5 and I found the following results
Factor 1
Goods sold is of the high quality
The products you require are generally available
Home delivery service is good
Explains about the customers who are concerned about availability and quality of the
products
Factor 2
The shop is well laid out
The store is clean and tidy
The store has pleasant shopping atmosphere
Goods displays are attractive
Explains about the customers who wants ambiance in the shore.
Factor 3
The store has the lowest price in the area.
The goods sold is good value for the money.
There is a good choice of product in each range
Explains about the customers who are price sensitive and concerned about
value for money.
Factor 4
The store is conveniently located
Stores hours are convenient for my shopping needs
The special offers that are available well advertised
Employees are helpful and knowledgeable
Explains about the customers who look for convenience in the store.
From the four factors extracted market can be segmented based on demographics and
psychographics, it can be further segmented based on income levels.
Target customer will be middle class households, families, and middle class youth.
29.3. Conclusion
From the response it is clear that the customers of Big Bazaar are generally satisfied
but there are some area that Big Bazaar need to focus to increase customer satisfaction. From
the responses itself it is evident that customers are satisfied with certain categories of goods
and certain areas of services, but at the same time there are certain areas where customers
have tend to disagree with Big Bazaars goods and services. Now Big Bazaar needs to focus
on these faulty areas, improve them and then in turn improve customer satisfaction.
Customer Satisfaction Survey
(Please help us serve you better by taking a couple of minutes to tell us about
the service that you have received so far)
6. How frequently you will visit Big Bazaar?
Once in a week twice a week
Monthly once
7. Do you agree or disagree the following:
Serial
No
Particulars Strongly
Agree
Agree Neither
agree
nor
disagree
Disagree Strongly
Disagree
a) The store is conveniently
located
b) Parking is adequate
c) The shop is well laid out
d) Stores hours are
convenient for my
shopping needs
e) The store is clean and tidy
f) The store has pleasant
shopping atmosphere
g) The store has the lowest
price in the area
h) Goods sold is of the high
quality
i) The goods sold is good
value for the money
Serial
No
Particulars Strongly
Agree
Agree Neither
agree
nor
disagree
Disagree Strongly
Disagree
j) Goods displays are
attractive
k) There is a good choice of
product in each range
l) The products you require
are generally available
m) The special offers that are
available well advertised
n) Employees are helpful
and knowledgeable
o) Home delivery service is
good
8. When a customer has a problem, this store shows a sincere interest in solving it.
Yes No Sometimes
9. This store is providing more offers comparing to other stores.
Yes No
10. How would you rate products and services against other competitors?
If the scale is from 1to 10
11. Your valuable suggestion for our better performance.

We would like to know more about you.
Name :
Gender : Male Female
Age :
Thank you

Big Bazaar Project

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STUDY OF CUSTOMER SATISFACTION

NATIONAL SCHOOL OF BUSINESS Page 1

STUDY OF CUSTOMER SATISFACTION

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