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INTRODUCTION
Theoretical background
Marketing
The Chartered Institute of Marketing defines marketing as "the
management process responsible for identifying, anticipating and
satisfying customer requirements profitably." A different concept is the
value-based marketing which states the role of marketing to contribute to
increasing shareholder value. In this context, marketing is defined as "the
management process that seeks to maximize returns to shareholders by
developing relationships with valued customers and creating a
competitive advantage."
Marketing practice tended to be seen as a creative industry in the past,
which included advertising, distribution and selling,Merchandise support.
However, because the academic study of marketing makes extensive use
of social sciences, psychology, sociology, mathematics, economics,
anthropology and neuroscience, the profession is now widely recognized
as a science, allowing numerous universities to offer Master-of-Science
(MSc) programmes. The overall process starts with marketing research
and goes through market segmentation, business planning and execution,
ending with pre- and post-sales promotional activities. It is also related to
many of the creative arts. The marketing literature is also adept at reinventing itself and its vocabulary according to the times and the culture.
Browne reveals that supermarkets spend millions of dollars intensively
researching and studying consumer behaviour. Their aim is to make sure
that shoppers leave their stores spending much more than they originally
Product: The marketing mix concept has its roots in the 1950s U.S.
corporate marketing world, and the practice of marketing has obviously
evolved tremendously since this term was invented. One of the changes is
that there are a lot more services available nowadays, such as those
available online. Also, the distinction between product and service has
become more blurry (e.g., is a web-based software application a product
or a service?). Either way, product here refers to products or service. The
product you offer needs to be able to meet a specific, existing market
demand. Or, you need to be able to create a market niche through
building a strong brand.
Price: The price you set for your offering plays a large role in its
marketability. Pricing for offering that are more commonly available in
the market is more elastic, meaning that unit sales will go up or down
more responsively in response to price changes. By contrast, those
products that have a generally more limited availability in the market (but
with strong demand) are more inelastic, meaning that price changes will
not affect unit sales very much. The price elasticity of your offering can
be determined through various market testing techniques.
Place: This term really refers to any way that the customer can obtain a
product. Provision of a product can occur via any number of distribution
channels, such as in a retail store, through the mail, via downloadable
files, on a cruise ship, in a hair salon, etc. The ease and options through
which you can make your product available to your customers will have
an effect on your sales volume.
The slogans the customer is king or the customer is god indicate the
importance of customers to business-although the last expression is
sometimes used ironically.
The father of our nation, Mahatma Gandhis famous statement is worth
recollectionA customer is the most important visitor on our premises .He is to
dependent on us, we are dependent on him .He is not dependent on us, we
are dependent on him. He is not an outsider on our business. He is a part
of it .We are not doing a favor by serving him, he is doing us a favor by
giving us an opportunity to do so.
According to Peter Ducker.
The purpose of a business is to create customers.
Implied in his words and his work, is the importance of keeping those
same customers and of growing the depth of their relationship with them.
Hence a customer is the most significant part of any business concern.
Without a customer, there is no purpose to a business. Hence there is a
direct relationship between number of customers to the profits of the
concern .Large number of customers bring larger profits.
RETAILING
A retailer is any business that sells products to consumers for personal
use. Restaurants, supermarkets, banks, mail-order catalogs are all retailers
.Retailing is the final link in the marketing channel bringing products and
services from the producers and providers to consumers Retailing is
important because it creates economic utility, it helps manufacturers reach
consumers, and it makes a significant contribution to the economy
Producers rely on retailers to offer the right products at the right place.
Retailing is in the midst of tremendous change today, making it one
of the most dynamic and challenging areas in marketing. The demand for
time saving services continues to grow, making services retailing one of
the hottest marketing trends from the 1990s.
One-stop-shop or convenience:
Brand proliferation, traffic congestion and busy lifestyles are trends that
make shopping malls offerings appealing to the consumer. These
shopping malls give the consumer better choices, as they are normally
multi-branded outlets.
Ambience or experience:
With the increasing competition and restricted time limit, the customers
want to combine their shopping with entertainment. The shopping malls
have very attractive and relaxing ambience that serves both the purposes
to the customers.
Price:
The shopping malls offer its customers value -added incentives such as a
pleasant shopping experience, etc at the same price that the small shops
offer.
Service:
The shopping malls provide its customers with a lot of services such as
alterations, guarantees for certain products etc. The customers are also
offered various incentives such as membership cards on which the
customers get certain amount of points on every purchase and they could
redeem these points after a certain period.
INDIAN SCENARIO
The Indian consumer initially accepted everything that was offered to
them. But form the 90s the trend changed and the market became more
consumer driven Consumers became more specific about what they
wanted and did not pick up anything and everything that was given to
KOSHYS INSTITUTE OF MANAGEMENT STUDIES
10
them .In short, they became very choosy and needed alternatives to
choose from .These in turn made the Indian consumers more
knowledgeable about the products and facilities and have now become
tough critics, savvy purchasers, value driven spenders and practical
thinkers when it comes to shopping. The demand for their time at work
and home has made the consumers extremely selective about how they
would spend their limited time on shopping.
Due to the increasing demand of consumers for variety and convenience,
under one single roof and the concept of shopping malls started taking
shape in India. Though the concept of shopping malls came from the
west, when it was introduced in India, it was according to Indian tastes
and preferences. Shoppers stop was the 1st shopping mall to start in India.
It was promoted by Mr.K.Raheja , a prominent Mumbai- based builder
,opened the 1st outlet in Andheri ,Mumbai in 1991.Initially it undergo a
fair share of growing pains ,but slowly it caught on and has now been
very well accepted by the masses.
In Bangalore ,the first shopping mall which was started was called Little
Woods International .Later it was taken over by the Tata Group and was
renamed Westside. The second shopping mall to have started in
Bangalore was Shoppers Stop and Lifestyle followed this trend. Though
Westside was the first of its king to start operating in Bangalore, it took
time to establish itself and be accepted by the masses. There are many
reasons that could justify this:
Westside started a new trend in shopping and people were not used
to such kind of concept in shopping.
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RESEARCH DESIGN
STUDY
ON
CUSTOMER
SATISFACTION
TOWARDS
LIFESTYLE
STATEMENT OF THE PROBLEM
The title of the project is as study on customer satisfaction towards
lifestyle The aim of the organization is to give good quality products to
the customers and maintaining good relation with them. The quality of
products at lifestyle is found good compare to other players. It wants to
increase its market share by retaining its loyal customers and attracting
new one.
The information generated by the study will help in making better
decisions. The study is confined in Bangalore city only. The study
attempts to determine the various factors and levels of satisfaction of the
customers.
Now days, new organizations are coming to the business line, so the
competitions among these companies tend to be more complicated. Hence
the necessity of information becomes more essential for the companies
decision-making to cope with the market changes.
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14
SOURCE OF DATA
Collection of facts and figures about a phenomenon is one of the most
important steps for any study whether it is related to business,
management economic or natural sciences. Collection of data refers to
systematic recording of results either by counting or by enumeration. The
entire structure of statistical analysis for any enquiry is based on
systematic collection of data. Broadly speaking there are two types of
data.
15
Primary Data
Secondary Data
Secondary data consist of information that already consists; some were
having been collected for another product.
PRIMARY DATA
A mix of questionnaire and direct interview method was used as a tool for
gathered primary data.
Direct personal interview
Indirect personal interview
Mailed questionnaire method
16
SAMPLING
Sampling draws an inference about population. The values obtain from
the study of samples or collected parameters.
METHODS OF SAMPLING
17
LIMITATIONS
a) Time: The period of time available for completing this project
forced me to limit my area of study. Because of this, I was not able
to take a sample size that would have added more value to the
conclusions drawn by me.
b) Conveyance: Due to absence of customers, I was not able to cover
a wide area for the collection of data.
Some of the people whom I met did not co-operate.
c) Language:
biggest problem that I had to cope with during the course of this
project.
Some responsible show unwillingness to fill the questionnaires
Some respondent gave two prefer hence instead of taking one
option. Therefore the time of analysis, the actual results were
affected.
18
CHAPTER SCHEME
CHAPTER 1: INTRODUCTION.
It includes a brief note on customer satisfaction towards life style.
CHAPTER 2: RESEARCH DESIGN
In this chapter it consist of the following,
Title of the study, Statement of problem, Objectives of the study, Field of
the study, Scope of study, Research instruments, Sample design, Sample
size, Sampling technique adopted, Limitations.
CHAPTER 3: PROFILE.
It gives a brief note on the life style, various types of products and
assistance and its new expansion programs with a detail note on its
functions.
CHAPTER 4: DATA ANALYSIS & INTERPRETATION.
This chapter consists of the data to be analyzed. Each data has been
analyzed according to its importance. The analysis will be interpreted in
graphs
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20
COMPANY PROFILE
3.1 INTRODUCTION TO COMPANY:
Lifestyle International Pvt Ltd
Lifestyle International (P) Ltd, part of the prestigious Dubai based
Landmark Group, started its operations in India with the launch of the
first Lifestyle store in Chennai in 1999. In little over a decades time,
Lifestyle has established itself amongst the leading retail companies in
India. Positioned as a youthful, stylish and a vibrant brand, Lifestyle
offers its customers not just the ease of shopping but also an enjoyable
shopping experience. Each Lifestyle store brings together five concepts
under one roof Apparel, Footwear, Childrens Wear & Toys, Furniture
& Home Furnishings, Personal Grooming - offering a convenience of a
one-stop shop and a wide choice of national & international brands.
Home Centre by Lifestyle is a one stop destination for Furniture, Home
Dcor and Soft Furnishings that truly represent style, comfort and
individuality. Home Centre uses a unique Concept Room display model
to give customers a practical idea of how each piece of furniture would
look in a particular room.
In keeping with the Groups tradition of making every shopping
experience rewarding and memorable, The Inner Circle Landmark
Groups Loyalty program allows members, to enjoy exclusive benefits
and privileges such as reward points and exciting offers. The Inner Circle
is today recognized amongst the leading Loyalty Program in the country
with an ever increasing base of customers. The card is accepted across all
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Lycra Images Fashion Awards for the Most Admired Large Format
Retailer of the Year in 2006.
Reid and Taylor Retailer of the Year award for the year 2006
Present across major metros in India, Lifestyle and Home Centre are
rapidly expanding their footprint across the country
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We are able to leverage our experience in the industry and our extensive
network to source some exclusive imported merchandise and offer it to
our consumers at prices that are competitive, says Mr. V. Murlidharan,
Vice President, Operations, Lifestyle (India).Glassware from Spain,
crockery from U.K and SriLanka., teen-fashions from China and
Thailand, are some of the international products that are available at the
Lifestyle store in Bangalore. Adding to the entire retail experience, is the
ambient lighting and modular fittings sourced from all over the world and
designed by the Landmark Groups in-house architects based in Dubai.
The store already has most things going for it .Both Chennai and
Hyderabad have received the store very well. It is already popular among
the traveling professionals both in India and abroad .So eventually.Its
the choice of a lifestyle now for the citys shoppers !!!!
3.2 OUR MISSION:Carefully listen. Constantly adapt. Always deliver.
The mission statement of the organization is to develop as an organization
which sells the best products at the best price. The mission statement is an
enduring statement of purpose that distinguishes one business from
another similar firm. A mission statement identifies the scope of a firms
operations in product and market terms. The main advantage of the
organization is to sell the best products at the best price.
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3.3 OUR VISSION:To become the leading retail group in the Middle East and India,
maintaining our constant growth through our core, value and international
brand business.
The vision statement of an organization is statement of its future that is,
where the organization needs to be headed. It presents the values,
philosophies and aspirations that guide organizational action. The vision
statement of the organization is to go internationally and merge with
another international organization which operates in the same line so that
the company can access the international market with less risk. This will
give a huge profit to the company as the company is facing huge risks in
the international market.
3.4 CORE VALUE
Customer satisfaction
The main aim of our business is to satisfy our customers. The customers
will get the best products at the best price thats we guarantee. As the
customer gets satisfied he/she will come again and again for purchasing.
Customers are the king without customers no business can live, so its the
duty of every business man to satisfy the customer to stay in the business.
Target customer
A customer was someone who frequented a particular shop, who made it
a habit to purchase goods of the sort the shop sold their rather than
elsewhere, and with whom the shopkeeper had to maintain a relationship
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chairman
Micky jagtiani
Vice chairperson
Renuka jagtiani
Ceo
Vipen sethi
Ceo
Manu jeswan
Ceo
Vinod talreja
Ceo
Jon jagtiani
Ceo
Raza beig
Ceo
Hariharan ramanathan
Ceo
Neelesh bhatnagar
Ceo
Sachin mundhwa
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29
No of Respondents
Percentage
Very good
48
48%
Good
31
31%
Average
18
18%
Poor
3%
Total
100
100%
Analysis
The above table clearly states that 48% of the respondents rated that the
arrangement of products in the store is very good ,while 31% rated that it
is good,18% of the respondents rated that the arrangement is average and
3% feel that it is poor.
30
Interpretation
It can be inferred that the majority of the customers of LIFESTYLE
show good arrangement of product.
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No of Respondents
Percentage
Low
27
27%
High
40
40%
Moderate
13
13%
Average
20
20%
Total
100
100%
Analysis
The above table clearly shows that 27% of the respondents rated that
brand name while shopping is low, 40% rated that it is highly important,
13% rated that it is moderately important, 20% rated that it is average.
32
Interpretation
It can be inferred that the majority of the customers of LIFESTYLE
rated brand name is high.
33
Table No.3:- Showing, whether the customers are satisfied with the
services provided by the LIFESTYLE
Factors
No of Respondents
Percentage
Yes
95
95%
No
5%
Total
100
100%
Analysis
The above table clearly shows that 95% of the customers are satisfied
with the services provided by the LIFESTYLE. The remaining 5% are not
satisfied with the services provided.
34
Graph No.3:- Showing whether the customers are satisfied with the
services provided by the LIFESTYLE
Interpretation
From the above graph, it is inferred that the majority of the respondents
are satisfied with the service provide by the LIFESTYLE.
35
whether they
LIFESTYLE.
Factors
No of Respondents
Percentage
Yes
88
88%
No
12
12%
Total
100
100%
Analysis
The above table clearly shows that 88% of the customers rated ambience
while entering the LIFESTYLE. Remaining 12% rated no to the
ambience of LIFESTYLE.
36
Graph No.4:- Showing the response of the customers whether they feel
good ambience prevail, while entering the LIFESTYLE.
Interpretation
Graph shows majority of the respondents of LIFESTYLE feel good
ambience prevail, while entering the LIFESTYLE.
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Table No.5:- Showing the response of the customers whether they are
satisfied with the Parking facility
Factors
No of Respondents
Percentage
Yes
80
80%
No
20
20%
Total
100
100%
Analysis
The above table clearly shows that 80% of the customers are satisfied
with the parking facility in the LIFESTYLE. The remaining 20% are not
satisfied with the parking facility.
38
Inference
From the above graph, it is inferred that the majority of the respondents
are satisfied with the parking facility providing by the LIFESTYLE.
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No of Respondents
Percentage
Excellent
52
52%
Good
29
29%
Average
13
13%
Poor
6%
Total
100
100%
Analysis
The above table clearly states that 52% of the customers of
LIFESTYLE find Excellent Discount offer, 29% find good Discount
offer, 13% find Average Discount offer, while 6% find Poor Discount
offer.
40
Interpretation
From the above graph, it is inferred that the majority of respondents feel
that discounts offered is Excellent.
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Factors
No of Respondents
Percentage
Very good
71
71%
Good
26
26%
Average
3%
Poor
0%
Total
100
100%
Analysis
The above table clearly states that 71% of the respondents feel that
quality plays a very good role while shopping for a product, 26% feel that
it is good,3% feel it as average.
42
Interpretation
This implies that the majority of the customers of LIFESTYLE rated
quality of products is very good.
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No of Respondents
Percentage
Very expensive
16
16%
Expensive
39
39%
Affordable
35
35%
Less expensive
10
10%
Total
100
100%
Analysis
The above table clearly states that 16% of the customers in LIFESTYLE
find Very expensive, 39% find it to be Expensive, 35% find it to be
Affordable, while 10% find it to be Less expensive.
44
Interpretation
This implies that the majority of the customers of LIFESTYLE rated
price level to be expensive.
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Table No.9:- Showing the first impression when the customer enter in
to LIFESTYLE.
Factors
No of Respondents
Percentage
Amazed
53
53%
Satisfied
24
24%
Dull
11
11%
Nothing Special
12
12%
Total
100
100%
Analysis
The 53% of the customers of LIFESTYLE are Amazed while entering
in to LIFESTYLE. 24% of customers feel satisfied while entering to
LIFESTYLE. 11% of customers feel a dull effect while entering in to
LIFESTYLE. 12% of customers does not feel anything while entering in
to LIFESTYLE.
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Graph No.9:- Showing the first impression when the customer enter
in to LIFESTYLE.
Inference
This implies that the majority of the respondents are amazed with
LIFESTYLE.
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Factors
No of Respondents
Percentage
Yes
63
63%
No
37
37%
Total
100
100%
Analysis
The above table clearly states that 63% of the respondents find the
employees at LIFESTYLE dont require training. 37% of the respondents
find the employees at LIFESTYLE require training.
48
Inference
It can be inferred that the majority of the customers of LIFESTYLE rated
that the employees require training.
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Table No.11:- Showing whether the salesmen help you to select the
product.
Factors
No of Respondents
Percentage
Yes
72
72%
No
28
28%
Total
100
100%
Analysis
The above table clearly states that 72% of the respondents state that the
salesmen helped them to select the product and 28% of the respondents
state that the salesmen was not helpful for them to select the products.
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Graph No.11:- Showing whether the salesmen help you to select the
product.
Inference
This implies that the majority of the respondents state that the
Salesmen helped them to select the product
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Factors
No of Respondents
Percentage
Yes
63
63%
No
37
37%
Total
100
100%
Analysis
The above table clearly states that 63% of the respondents came across
with LIFESTYLE advertisement. 37% of the respondents did not come
across with LIFESTYLE advertisement.
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Inference
This implies that the majority of the respondents come across with
LIFESTYLE advertisement.
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Factors
No of Respondents
Percentage
Very good
46
46%
Good
42
42%
Average
12
12%
Poor
Total
100
100%
Analysis
The above table shows 46% of the respondents rated it as very good, 42%
of the respondents rated it as good, 12% of the respondents rated it as
average.
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Inference
This implies that the majority of the customers of LIFESTYLE rated
collection of products is very good.
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Table No.14:- Showing whether the customer gets the replace for the
damaged products.
Factors
No of Respondents
Percentage
Yes
97
97%
No
3%
Total
100
100%
Analysis
The above table shows that 97% of the respondents gets the replacement
for the damaged products. 3% of the respondents didnt get replacement
for the damaged products.
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Graph No.14:- Showing whether the customer gets the replace for the
damaged products.
Inference
This implies that majority of the respondents gets the replace
for the damaged products.
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Factors
No of Respondents
Percentage
Frequently
74
74%
Occasionally
20
20%
Rarely
6%
Total
100
100%
Analysis
The above table shows that 74% of the respondents state that they visit
LIFESTYLE Frequently, 20 of the respondents visit LIFESTYKE
Occasionally, 6% of the respondents visit LIFESTYLE Rarely.
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Inference
This implies that majority of the respondents state that they visit
LIFESTYLE frequently.
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Factors
No of Respondents
Percentage
Yes
84
84%
No
16
16%
Total
100
100%
Analysis
The above table shows that 84% of the respondents are satisfied with the
packing facility in LIFESTYLE. 16% of the respondents are not satisfied
with the packing facility in LIFESTYLE.
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Inference
This implies that majority of the respondents are satisfied with the
packing facility in LIFESTYLE.
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Factors
No of Respondents
Percentage
Very good
46
46%
Good
42
42%
Average
10
10%
Poor
2%
Total
100
100%
Analysis
The above table shows that 46% of the respondents rated the interior
design as very good. 42% of the respondents rated the interior design as
good. 10% of the respondents rated the interior design as average. 2% of
the respondents rated the interior design as poor.
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Inference
This implies that majority of the respondents are rated as very good.
Table No.18:- Showing whether the customer finds lifestyle clean and
hygienic.
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Factors
No of Respondents
Percentage
Yes
84
84%
No
16
16%
Total
100
100%
Analysis
The above table shows that 84% of the respondents find that lifestyle is
clean and hygienic. 16% of the respondents find that lifestyle is unclean
and unhygienic.
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Inference
From the above graph, it is inferred that the majority of respondents are
stated that the LIFESTYLE is clean and hygienic.
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Factors
No of Respondents
Percentage
Very good
63
63%
Good
21
21%
Average
10
10%
Poor
6%
Total
100
100%
Analysis
The above table shows 63% of the respondents rate it as very good, 21%
of the respondents rate it as good, 10% of the respondents rate it as
average 2% of the respondents rated the collection of brands as poor.
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Inference
This implies that the majority of the customers of LIFESTYLE rated
collection of brands is very good.
PROFILE OF RESPONDENTS:
67
RESPONDENTS
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services provided during the sale season due to the rush .They also feel
that the arrangement of products during sales should be bettered for
higher convenience. The membership card for the Gold-Circle has also
enhanced the morale of the member consumers as they enter the mall.
4. AFTER SALE SERVICES:
After sale services like Exchanges and compensation for faulty ,defective
products are rated as good by the malls customers.
5. PACKAGE AND PRESENTATION:
The packages of products before sale are attractive. The carry bags
provided could be brighter to attract attention, adding higher prestige to
its holders. Presentations of the products are on par with its competitors.
6. ARRANGEMENT OF PRODUCTS WITHIN THE MALL:
Practically speaking, any Mall should look into the convenience and
accessibility to products, apart from looking into the appearance aspect of
the mall, while designing its layout .LIFESTYLE, according to its
customers has looked into this aspect with great care ,as its customers feel
that its a great experience to shop at the mall. The sections have been
very thoughtfully placed to suit the needs of the customers while
shopping.
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SUGGESTIONS
In the fast changing world, where technology is making rapid
strides it is imperative that the firm makes the best possible use of
the same. One such way would be to help the consumers to create a
virtual model of themselves, which would assist in picking clothes
and accessories that match and look good on them and also the
exact place where it is kept in the store. It could also act as the
database of their previous purchases.
The firm should add a little more variety to the kind of products
sold by expanding their already existing line of products.
Arrangement of goods in the manner that is beneficial and within
the reach of consumers.
The most effective medium of advertising would be the
newspapers that would reach a large number of people and have a
higher circulation when compared to magazines. This reaches
people within the immediate surroundings.
The store should be a little more organized during the sale season,
regarding the discount one each kind of product etc.
Employees need to be motivated and more attention is needed to be
given for their training.
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CONCLUSION
In the duration of one month that was spent in LIFESTYLE, It was a
great experience to see how an organization tries to satisfy its
customers. LIFESTYLE managed to satisfy its customers by
providing quality products at best price. Customer is the king in the
market to satisfy a customer is the most difficult task in the business,
if the businesses dont have the customers, it will start struggling for
its survival. LIFESTYLE has gained its trust among the valuable
customers by providing quality products at best price. This project
helped the LIFESTYLE to understand how well its customers are
satisfied with the products. With the help of the project the
LIFESTYLE came to know that the most of the customers are
satisfied remaining customers are not satisfied because of their
differed taste, low purchasing power etc.
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STUDY
ON
CUSTOMER
SATISFACTION
TOWARDS
LIFESTYLE.
QUESTIONNAIRE
I Vishnu m student of BBM final semester from RR Institute of
management studies. As part of my academic curriculum, I am
conducting a study on customer satisfaction towards LIFESTYLE. I
assure you that all information provided you will be kept confidential and
shall be used for academic purpose only.
Personal information:Gender
Male
( )
Female ( )
Marital status
Single
( )
Married ( )
Occupation
( )
Good
( )
Average
( )
Poor
( )
( )
High
( )
( )
Average
( )
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( )
No
( )
4. Did you feel good with the Ambience while entering to LIFESTYLE?
Yes
( )
No
( )
( )
No
( )
( )
Good
( )
Average
( )
Poor
( )
( )
Good
( )
Average
( )
Poor
( )
( )
( ) Less expensive ( )
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Satisfied
( )
Dull
Nothing special
( )
( )
No ( )
No ( )
No ( )
( )
Good ( )
Poor ( )
No ( )
74
( )
6-12 months ( )
3-6 months ( )
one year
( )
No ( )
Good ( )
Average
Poor ( )
( )
No ( )
( )
Good ( )
Average
( )
Poor
( )
75
BIBLIOGRAPHY
BOOKS
MARKETING MANAGEMENT
PHILIP KOTLER
Business world
Newspapers
Economic times
Business standard
Deccan herald
Web
Google.com
Wikipedia.com
Answer.com
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