A PROJECT REPORTON

 “UNDERSTANDING THE CONSUMER BUYING BEHAVIOUR

FOR AN EYEWEAR.”At

 

PUNE

Prepared By,GANPATI ABHISHEK

HRD1512239

Introduction to the company,

Lawrence and mayo is a 137 year old company with a network of 90 store covering 32 major cities in the country. Lawrence and Mayo are in consumer’s service from last almost 137 years and providing them with the best quality services and products. Established in 1877, Lawrence and Mayo has always been a two division company one being in the field business of ophthalmic optics and contact lens clinics and other being in the business of engineering, scientific and vacuum instruments.

About the company

Type Public

Industry Retail &Manufacturing (Machinery & Equipment

Founded 1877

Headquarters Mumbai, India

Key people ROBERT HENRY MENDONSA (Chairman )JOSEPH L MENDONSA (VC)VIVEKMENDONSA (CEO & MD)

Employees 1031

No .of stores 112

Area served India, England, Burma, Sri-lanka, Pakistan

Brands associated with the company

Overview of the project

Eyewear industry

CorporateEye

Screeningprogram

ObjectivePrimary Objective:• To study and determine consumer buying behavior of an

eyewear through corporate eye screening program.

Secondary Objective:• To study the importance of various factors while choosing an

eyewear.• To identify the appropriate reason of visit to the store.• To study the impact of income on purchasing power • To study the impact of income on purchasing frequency of the

customer

Research Methodology

Sample size 158

Sample method Convenient sampling

Research design Exploratory & Descriptive

Data sources Primary

Primary data collection method Semi-structured data

Primary data collection questionnaire Formalized and concealed

Demographic Facts

57%

43%

Gender ratio

MaleFemale

9%

51%

24%

11% 6%

Age Group

Below 15Between 15 - 25Between 26 - 35Between 36 - 45Above 46

Gender ratio

Male 89 57.40%

Female 66 42.60%

Below 15 24 8.90%Between

15 - 25137 50.60%

Between 26 - 35

66 24.40%

Between 36 - 45

29 10.70%

Above 46 15 5.50%

What made you visit a particular store?

Past Experience/

Old Customer

87 55.40%

Word of mouth

85 54.10%

Convenience 68 43.30%

More choices 75 47.80%

Deep discounts

56 35.70%

TVCs, social media ads,

print ads

43 27.40%

21%

21%

16%18%

14%10%

What made you visit a particular store?

Past Experience/ Old CustomerWord of mouthConvenienceMore choicesDeep discountsTVCs, social media ads, print ads

Which one do you most agree with ?I'm happy to

select my spectacles on

my own

39 24.80%

I want the salesperson to

be pro-active and guide me

62 39.50%

I take a third person along

with me for suggestions

56 35.70%

25%

39%

36%

Which one do you most agree with ?

I'm happy to select my spectacles on my ownI want the salesperson to be pro-active and guide meI take a third person along with me for suggestions

Monthly Income of the customer?

25%

52%

16% 4%3%

<20000

20000 - 30000

30000 - 40000

40000 - 50000

50000 above

I'm happy to select my

spectacles on my own

39 24.80%

I want the salesperson to

be pro-active and guide me

62 39.50%

I take a third person along

with me for suggestions

56 35.70%

Order of preference of each of the below parameters while selecting your eye wear ?

1st 2nd 3rd 4th 5th0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

120.00%

70.25%

6.96%1.89% 1.89%

18.98%

6.96%

48.73%

22.78%16.45%

5.06%

2.53%

18.98%

62.65%

13.92% 1.89%

3.16%20.25%

8.86%

58.22%

9.49%

17.08%

5.06% 3.80%9.49%

64.55%

frame material &lens type

durability

fit

brand

fashion trends

At what price did you buy the spectacles ?

17%

23%

31%

29% <=500

501 to 1000

1001 to 2000

> 2000

<=500 26 16.70%

501 to 1000

36 23.10%

1001 to 2000

48 30.80%

> 2000 46 29.50%

What brings you back to the same online/offline store for a second time

purchase ?19%

18%

19%14%

13%

6% 10%

Discount offers/sales season reminders

Messages informing about new arrivals

Goodwill of the retailer

Good warranty period offered

Good after-sales services of -fered, eg: Repairs

Prompt addressal of queries asked online

The quality provided

How often do you like to buy or change your sunglasses/spectacles ?

once month 4

once in 6 months 16

once a year 41

once every 2 year 67

after 2 year 30

3% 10%

26%

42%

19%

once month

once in 6 months

once a year

once every 2 year

after 2 year

Data analysis using SPSS.

• Anova• Null Hypothesis: At 5% significant level income

of respondents does not have any impact on the purchase power of the customer.

• Alternate hypothesis: : At 5% significant level income of respondents does have impact on the purchase power of the customer.

• anova test.docx

Data analysis using SPSS.CHI-SQUARE TEST

• Null Hypothesis: At 5% significant level income of respondents does not have any impact on the purchase frequency of the customer.

• Alternate hypothesis: : At 5% significant level income of respondents does have impact on the purchase frequency of the customer

• chi-sq test.docx

FINDINGS OF THE DATA• Consumer buying behavior for an eyewear in the corporate eye

screening program can be determine by several factors such as• Order of preferences under the given parameters are as follows :

fashion trends, brands, fit, durability, frame materials and lens type.• Word of mouth and past experience is the main parameter which

made the customer to visit CESP for the first time.• Discount offers and sales season remainders along with message

informing about the new arrival is the reason to fetch back the customers.

• Customer wants salesperson to be pro-active and guide them for the eyewear.

• Income level of respondents does have impact on the purchase power of the customer. Customers with high income purchase more costly eyewear.

• Income level of respondents does have impact on the purchasing frequency of the customer. Customer with high income purchase more frequently.

Recommendations for Improvement in Existing CESP Process

• During CESP program we should approach higher designated employees so that they can purchase costly eyewear.

• We should invite their family members also, this could increase the sales too.

• We should provide membership card to the employees who participate in CESP check-up and give them offer according to company policies.

• Contact customers during seasonal offers via mail or telephonic message.

• During CESP check-ups ,there should be at least two salesperson who can guide customers while choosing frames.

Opportunity spaces

• Lawrence & Mayo must enter the retail segment which will be the future of eyewear, which are intelligent glasses (google-glasses) and wearable devices (smart-watches) etc.

• MIP (most important person) visits generate more sales and brand promotion than showroom visits.