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Consumer Purchasing Behaviour
A Summer Internship Project ReportSubmitted in partial fulfillment of
The Master of Business AdministrationDegree under Biju Patnaik University of Technology, Rourkela.
By
SIBASANKAR SAHU
Roll No. # MBA 200810707 Regd. No. # 0806202044
September - 2009
Under the guidance of
Mr. Suresh Ch. Pattnaik
NATIONAL INSTITUTE OF SCIENCE & TECHNOLOGY
Palur Hills, Berhampur- 761008, Orissa, India
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ACKNOWLEDGEMENT
I wish to express my deep sense of gratitude to my project guide, Mr. Suresh
Pattnaik, Faculty, NIST for his valuable guidance and useful suggestions, which
helped me in completing the project work.
I also would like to thankMr. Ratnakar Mishra, project coordinator MBA, NIST for
being supportive and for being a helping hand from the beginning till to the end of the
completion of the project.
I take immense pleasure in thanking Mr. Shom Prasad Das, Course CoordinatorMBA, for having permitted me to carry out this project work.
The boosting from our honorable director, Prof. Sangram Mudali, once in a while is
really worth mentioning.
Words are inadequate in offering my thanks to the Project Trainees and Project
Assistants ofVishal Mega Mart for their encouragement and cooperation in carrying
out the project work.
Finally, yet importantly, I would like to express my heartfelt thanks to my beloved
parents for their blessings, my friends/classmates for their help and wishes for the
successful completion of this project.
Sibasankar Sahu
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LIST OF TABLES
Table 1.1 Top Major Retail Players ..........................................................................4
Table 1.2 Floor Wise Product Details.......................................................................18
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LIST OF FIGURES
Figure 1.1 Fastest Growing Formats in India...........................................................3
Figure 2.1 Model of Consumer Buyer Behavior.....................................................20
Figure 2.2 Consumer Decision-Making Process......................................................22
Figure 4.1 Awareness of Retail Shop .......................................................................30
Figure 4.2 Preferation of Departmental Store.........................................................31
Figure 4.3 Reason for Choosing Vishal....................................................................32
Figure 4.4 Major Influencer .....................................................................................32
Figure 4.5 Own Brand Vs. Other Brand..................................................................33
Figure 4.6 Preferable Item to Purchase ..................................................................33
Figure 4.7 Effect of Display Strategy........................................................................34
Figure 4.8 Decision Maker .......................................................................................34
Figure 4.9 Factor Effecting Buying Process............................................................35
Figure 4.10 Preferred Buying Situation ..................................................................35
Figure 4.11 Overall Ranking of Vishal.....................................................................36
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TABLE OF CONTENTS
ACKNOWLEDGEMENT ............................................................................................i
LIST OF TABLES ....................................................................................................... ii
LIST OF FIGURES ....................................................................................................iii
TABLE OF CONTENTS ............................................................................................iv
1. INTRODUCTION ...................................................................................................1
1.1 General Overview .............................................................................. 1
1.1.1 Introduction of Retail Industry ...................................................... 1
1.1.2 Retail Formats .............................................................................. 2
1.1.3 Top Major Retail Players ............................................................... 4
1.1.4 SWOT Analysis ............................................................................. 5
1.2 Objective of the Study ........................................................................ 7
1.2.1 Primary Objective ......................................................................... 7
1.2.2 Secondary Objective .................................................................... 7
1.3 Scope of the Study ............................................................................. 7
1.4 Company Profile ................................................................................. 7
1.4.1 Promoters and Group Companies ................................................. 8
1.4.2 Major Events .............................................................................. 11
1.4.3 Their Competitive Strengths ...................................................... 11
6. Private Labels .................................................................................. 13
7. Information Technology Systems .................................................... 13
8. Experienced and Skilled Management Team ................................... 14
1.4.4 Their Strategy ............................................................................ 14
1.4.5 Corporate Mission ................................................................ 16
1.4.6 Corporate Manifesto ................................................................... 16
1.4.7 Core Value .................................................................................. 16
1.4.8 Company Vision ......................................................................... 17
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1.5 Vishal Mega Mart (Berhampur) ......................................................... 17
2. REVIEW OF LITERATURE ............................................................................... 18
2.1 Consumer ......................................................................................... 19
2.2 Consumer Behavior ......................................................................... 19
2.3 How and Why Consumer Buy ........................................................... 20
2.4 Characteristics Affecting Consumer Behavior .................................. 20
2.4.1 Cultural Factor ............................................................................ 20
2.4.2 Social Factor ............................................................................... 21
2.4.2 Personal Factor: ......................................................................... 21
2.5 Types of Buying Behavior ................................................................. 21
2.6 Roles in the Buying Process .............................................................. 21
2.6.1 Problem Recognition .................................................................. 22
2.6.2 Information Search ..................................................................... 23
2.6.3 Alternatives Evaluation .............................................................. 23
2.6.4 Purchase Action .......................................................................... 23
2.6.5 Post-Purchase Actions ................................................................ 24
3. METHODOLOGY .................................................................................................25
3.2 Data Collection ................................................................................. 25
3.3 Sampling Plan ................................................................................... 25
3.4 On the Job Training ........................................................................... 25
3.4.1 Work Schedule ........................................................................... 26
.............................................................................................................. 26
3.4.2 Schedule for Project Work in Vishal Mega Mart .......................... 26
3.5 Limitations of the Study ................................................................... 26
4. DATA ANALYSIS & INTERPRETATION ...................................................... 27
5. CONCLUSION & SUGGESTIONS .....................................................................37
5.1 Conclusion ........................................................................................ 37
5.2 Suggestions ..................................................................................... 37
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ANNEXURE ............................................................................................................. 38
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1. INTRODUCTION
1.1 General Overview
1.1.1 Introduction of Retail Industry
The retail industry is divided into organized and unorganized sectors. Organized
retailing (Vishal Mega Mart) refers to trading activities undertaken by licensed
retailers, that is, those who are registered for sales tax, income tax, etc. These include
the corporate-backed hypermarkets and retail chains, and also the privately owned
large retail businesses. The unorganizedretailing refers to trading activities done by
local retailers which are not registered like kirana shops, fruits and vegetable vendors
etc.
The term "Retailing" refers to any activity that involves a sale to an individual
customer. In India, the unorganized retailing sector comprises of 96.5% while that of
organized sector just 3.5% that is mainly in major metropolitan and urban areas.
Indian retailing traditionally dominated by a small family run "Kirana" store.
Retailing in India is the second largest untapped market after China. Professional
management and strong customer focus characterize organized retailing. Despite the
huge size of the industry, only 8% of the country's population is engaged in retailing
while that in United States of America it is 20%. The positive factor such as increased
purchasing power, rise in number of double income families and demanding
customers, due to change in life style and paucity of time, customers are increasingly
looking for convenience. To woo the customers to the store retailers are providing a
wide product range, quality and value for money, apart from creating a memorable
shopping experience.
If economy continues to register a growth of 7- 8 %of the GDP annually, estimated by
2010, retailers will comprises of $300bn industry .retailing is the last stage of
distribution process. Retailing is one of the fundamental building block of the Indian
economy. Indian retail market has undergone an immense transformation in the post
liberalization & witnessing tremendous growth. Indian retail growing at the rate of
30% per annum and provides the highest employment after agriculture in India. The
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growing sophistication in retailing like A.T Kearney & Kurt Salmon Associates have
become active in India. Industrial houses take to Retailing and set up retail chains like
R.P. Goenkas, Nandas, K Rahejas, Tata, Birlas, Piramals, ITC, Ambanis, find a place
in the list. Many others have worked out their plans and are likely to enter the line in
the next couple of months
1.1.2 Retail Formats
Hypermarket: It is the largest format in Indian retail so far is a one stop shop for the
modern Indian shopper.
Merchandise: food grocery to clothing to spots goods to books to stationery.
Space occupied: 50000 Sq .ft. and above.
Example: Pantaloon retails Big Bazaar, RPGs Spencers (Giant).
Supermarket: A subdued version of a hypermarket.
Merchandise: Almost similar to that of a hypermarket but in relatively smaller
proposition.
Space occupied: 5000 Sq. ft. or more.
Example: Nilgiris, Apna Bazaar, Trinethra.
Convenience store: A sub dude version of a supermarket.
Merchandise: Groceries are predominantly sold.
Space occupied: Around 500 Sq. ft. to 3000 Sq. ft.
Example: stores located at the corners of the streets, Reliance Retails Fresh and
Select.
Department store: A retail establishment which specializes in selling a wide range of
products without a single prominent merchandise line and is usually a part of a retail
chain.
Merchandise: Apparel, household accessories, cosmetics, gifts etc.
Space occupied: Around 10000 Sq. ft. 30000 Sq. ft.
Example: Landmark Groups LifeStyle, Trent India Ltd.s Westside.
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Figure 1.1 Fastest Growing Formats in India
Discount store: Standard merchandise sold at lower prices with lower margins and
higher volumes.
Merchandise: A variety of perishable/ non perishable goods.
Multi Brand outlets, also known as Category Killers. These usually do well in busy
market places and Metros.
Merchandise: Offers several brads across a single product category.
Example: Viswapriya Groups Subiksha, Piramals TruMart.
Specialty store: It consists of a narrow product line with deep assortment.
Merchandise: Depends on the stores
Example: Bata store deals only with footwear, RPGs Music World, Crossword.
Kirana stores: The smallest retail formats which are the highest in number (15
million approx.) in India.
Merchandise: Mostly food and groceries.
Space occupied: 50 sq ft and even smaller ones exist.
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Malls: The largest form of organized retailing today. Located mainly in metro cities,
in proximity to urban outskirts.
Merchandise: They lend an ideal shopping experience with an amalgamation of
product, service and entertainment, all under a common roof.
Space occupied: Ranges from 60,000 sq ft to 7, 00,000 sq ft.
Example: Pantaloon Retails Central, Mumbais Iorbit.
1.1.3 Top Major Retail Players
Table 1.1 Top Major Retail Players
Retailer Existing formats Brand Names
No.of
Stores
Total Retail
Space
(000 sq ft)
Pantaloon
Retail Indian
Ltd
Department store Pantaloon 13 1,948
Hypermarket Big Bazaar 450 5000
Seamless Malls Central 12 1200
RPG Retail
Hyper markets Spencers 400 6000
Music Stores Music world 225 230
books Stores Books and Beyonds
Shoppers Stop
Ltd.
Department stores Shoppers Stop 20 1000
Books & Music Stores Crosswords 33 N/A
Home furnishing Home Stop N/A N/A
Landmark
Group (Based
in Dubai)
Department Stores Lifestyle 8 370
Trent India Ltd
Department Stores West side 19 350
Hypermarkets Star India Bazaar 1 N/A
Books & Music Stores Land Mark 4 N/A
Vishal Group Hyper markets Vishal Mega Mart 183 13,45
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1.1.4 SWOT Analysis
A SWOT analysis of the Indian organized retail industry is presented below:
1. Strength:
Retailing is a "Technology-intensive" industry. It is technology that will help
the organized retailers to score over the unorganized retailers. Successful
organized retailers today work closely with their vendors to predict consumer
demand, shorten lead times, reduce inventory holding and ultimately save
cost. Example: Wal-Mart pioneered the concept of building competitive
advantage through distribution & information systems in the retailing
industry. They introduced two innovative logistics techniques cross-docking
and EDI (electronic data interchange)
On an average a super market stocks up to 5000 SKU's against a few hundreds
stocked with an average unorganized retailer. This will provide variety in
products(required breadth & depth for consumers)
As a consequence of high volumes, procurement will be direct from the
Manufacturer. Hence, merchandise can be offered at lower costs.
2. Weakness :
Less Conversion level: Despite high footfalls, the conversion ratio has been
very low in the retail outlets in a mall as compared to the standalone counter
parts. It is seen that actual conversions of footfall into sales for a mall outlet is
approximately 20-25%. On the other hand, a high street store of retail chain
has an average conversion of about 50-60%. As a result, a stand-alone store
has a ROI (return on investment) of 25-30%; in contrast the retail majors are
experiencing a ROI of 8-10%
Customer Loyalty: Retail chains are yet to settle down with the proper
merchandise mix for the mall outlets. Since the stand-alone outlets were
established long time back, so they have stabilized in terms of footfalls &
merchandise mix and thus have a higher customer loyalty base.
3. Opportunity:
The Indian middle class is already 30 Crore & is projected to grow to over 60
Crore by 2010 making India one of the largest consumer markets of the world.
The IMAGES-KSA projections indicate that by 2015, India will have over 55
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Crore people under the age of 20 - reflecting the enormous opportunities
possible in the kids and teens retailing segment.
Organized retail is only 3% of the total retailing market in India. It is
estimated to grow at the rate of 25-30% p.a. and reach INR 1,00,000 Crore by2010.
Percolating down: In India it has been found out that the top 6 cities
contribute for 66% of total organized retailing. While the metros have already
been exploited, the focus has now been shifted towards the tier-II cities. The
'retail boom', 85% of which has so far been concentrated in the metros is
beginning to percolate down to these smaller cities and towns. The
contribution of these tier-II cities to total organized retailing sales is expected
to grow to 20-25%.
Rural Retailing: India's huge rural population has caught the eye of the
retailers looking for new areas of growth. ITC launched India's first rural mall
"Chaupal Saga" offering a diverse range of products from FMCG to electronic
goods to automobiles, attempting to provide farmers a one-stop destination for
all their needs." Hariyali Bazar" is started by DCM Sriram group which
provides farm related inputs & services. The Godrej group has launched the
concept of 'agri-stores' named "Adhaar" which offers agricultural products
such as fertilizers & animal feed along with the required knowledge for
effective use of the same to the farmers. Pepsi on the other hand is
experimenting with the farmers of Punjab for growing the right quality of
tomato for its tomato purees & pastes.\
4. Threat:
If the unorganized retailers are put together, they are parallel to a large
supermarket with no or little overheads, high degree of flexibility in
merchandise, display, prices and turnover.
Shopping Culture: Shopping culture has not developed in India as yet. Even
now malls are just a place to hang around with family and friends and largely
confined to window-shopping.
Cultural Variation leads to variation in merchandise in India at different
geographical locations
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1.2 Objective of the Study
1.2.1 Primary Objective
The primary objective of study is enhance the sale of vishal mega mart.
1.2.2 Secondary Objective
To know the consumer preference & choices.
To study consumer behavior & increase market share.
To know the customer flow & revenue generated by the stock from the each
department.
1.3 Scope of the Study
The scope of my study restricts itself to analyze the consumer purchasing behavior on
the basis of Garments, Gifts, Cards and Music Department where as in the recent
trend its seen that the key players in this Industry are more emphasizing on the
Garments, Personal Grooming, Home furnishings, Life style and Footwear
Departments in their Store
1.4 Company Profile
VISHAL MEGAMART is a retail house in India. As of April 30, 2007, it operates
50 retail stores, including two stores which are operated by their franchisees. These 50
stores are spread over about 1,282,000square feet and are located in 18 states across
India. In its efforts to strengthen their supply chain, it has set up seven regional
distributions centres and an apparel manufacturing plant.
It started as a retailer of ready-made apparels in Kolkata in 2001. At the time of
incorporation, the registered office of their Company was situated at 4, R. N.
Mukherjee Road, Kolkata 700 001. In 2003, it acquired the manufacturing facilities
from Vishal Fashions Private Limited and M/s Vishal Apparels. Subsequently, with
evolution of retail industry in India and change in consumer aspirations, it diversifiedtheir portfolio of offerings to include other retail goods. Currently, it sell ready-made
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apparels and a wide range of household merchandise and other consumer goods such
as foot tar, toys, watches, toiletries, grocery items, sports items, crockery, gift and
novelties.
It follows the concept of value retail in India. In other words, their business approach
is to sell quality goods at reasonable prices by either manufacturing themself or
directly procuring from manufacturers (primarily from small and medium size
vendors and manufacturers). It endeavtheir to facilitate one-stop-shop convenience for
their customers and to cater to the needs of the entire family. It believes this concept
has helped them grow to their current size within a short time frame of their years.
Mr. Ram Chandra Agarwal has been ranked as the 28th most pitiful person in the
Indian retail industry.
In order to reduce costs and take advantage of economies of scale it has embarked on
backward integration of their products. Their apparel manufacturing plant is located at
Gurgaon, Haryana. For ensuring efficiency in supply chain, it has set up seven
regional distribution centres located around Kolkata, Thane (Maharashtra), Jaipur
(Rajasthan), Ghaziabad (Uttar Pradesh), Ludhiana (Punjab), Gurgaon (Haryana) and
Delhi. Further, it has focussed on developing a cost and time efficient distribution and
logistics network, which currently comprises seven distribution centers and a fleet of
trucks for transportation. It achieved total sales of Rs. 6,026.53 million for fiscal
2007, as opposed to a turnover of Rs. 2,884.43 million for fiscal 2006 and Rs.
1,463.12 million for fiscal 2005. During the same period their profit after tax was Rs.
249.83 million, Rs. 124.74 million and Rs. 30.20 million, respectively. As a result,
their sales increased batten fiscal 2004 and fiscal 2007 at a CAGR of 89.83% and
their profit after tax increased batten fiscal 2004 and fiscal 2007 at a CAGR of302.89%.
1.4.1 Promoters and Group Companies
Promoters
The following individuals are the Promoters of our Company:
a). Mr. Ram Chandra Agarwal;
b). Mrs. Uma Agarwal; and
c). Mr. Surendra Kumar Agarwal.
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The following companies are the Promoters of our Company:
a). Unicon Marketing Private Limited;
b). Ricon Commodities Private Limited; and
c). Vishal Water World Private Limited.
In addition, the following HUFs are the Promoters of our Company:
a). Mr. Ram Chandra Agarwal (HUF)
The details of our Promoters who are individuals, are as follows:
Mr. Ram Chandra Agarwal, a resident Indian national aged 42 years, the pioneer of
budget stores in India, holds a bachelors degree in commerce. He has about two
decades of experience exclusively in readymade garments including manufacturing,
retailing and marketing. He was brought up in Kolkata and started the business under
the name of Vishal Garment with a small store at 9, Lal Bazaar Street, Kolkata. Mr.
Agarwal has been ranked as the 28th most powerful person in the Indian retail
industry. He is the Chairman and Managing Director of our company and has been on
the board of our Company since its inception.
Mrs. Uma Agarwal, a resident Indian national, W/o Mr. Ram Chandra Agarwal,
aged 32 years, holds a bachelors degree in arts. Mrs. Agarwal has more than five
years of experience in the retail industry. She has been on the board of our Company
since its inception. She started the business under the name The Vishal Garments in
1998 and the above concern was taken over by the Vishal Retail Private Limited in
2001 with all assets and liabilities. She has been associated with accounts department
of our Company and is currently overseeing our marketing
strategies.
Mr. Surendra Kumar Agarwal, a resident Indian national, aged 44 years, is a
commerce graduate. He has been on the board of our Company since its inception. He
was brought up in Calcutta and is engaged in the business with Mr. Ram Chandra
Agarwal and actively looking after the entire purchasing activities of the company. He
has two decades of experience in the 119 garments industry.
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For other details relating to Mr. Ram Chandra Agarwal, Mrs. Uma Agarwal and
Mr. Surendra Kumar Agarwal, including addresses, terms of appointment as
our Directors and other directorships, see the section titled Our Management
beginning on page 109. The details of our Promoter companies are as below:
Vishal Water World Private Limited (Vishal Water World)
Vishal Water World was incorporated on May 7, 1999 as a private limited company
under the Companies Act. Its registered office is situated at Mouza-Kuchpukur, P.S.
Bhangore, 24 Parganas (South) West Bengal, Kolkata. Vishal Water World is
presently engaged in the business of operating an amusement centre and sports
complex. Mentioned below are certain details of Vishal Water World:
S. No. Particulars Details
1. Registration No: 21-89342 of 1999
2. PAN AABCB1188J
3. Bank account no. 116010200003148
Promoters of Vishal Water World
The promoters of Vishal Water World are Mr. Ram Chandra Agarwal and Mrs. Uma
Agarwal.
Shareholding pattern
The equity shares of Vishal Water World are not listed on any stock exchange. The
shareholding pattern of Vishal Water World as of April 30, 2007, is as follows:
S. No. Name of Shareholder Number of Shares % of shareholding
1. Unicon Marketing Private Limited 315,000 49.53
2. Ricon Commodities Private Limited 300,000 47.17
3. Mr. Ram Chandra Agarwal 12,010 1.89
4. Mrs. Uma Agarwal 9,010 1.42
Total 636,020 100.00
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Board of Directors
As of April 30, 2007, the board of directors of Vishal Water World comprises Mr.
Ram Chandra Agarwal
and Mrs. Uma Agarwal.
1.4.2 Major Events
A chronology of some key events in the history of the Company is setforth below:
Year---- Milestone
2001-- Incorporated as Vishal Retail Private Limited acquired the proprietorship firm
Vishal Garments & the Vishal Garments opened firststore outside Kolkata.
2002-- Opened first Store in Delhi
2003 --Acquired Vishal Apparels, a manufacturing unit. Set up a manufacturing unit
in Gurgaon.
2004--Started their largest store of at Mathura Road, New Delhi having an area of
80,000 square feet nominated for the Images Retail Awards2004
2006--Their Company was converted into a public limited company103
implementation of production and retail module of SAP Broadband
connectivity with each and every location Increased their presence to an
aggregate of 17 States.
2007-- Increase in number of stores to 50 spread across in 18 States.
2008- Increase the number of store up to 183 in 89 cities.
1.4.3 Their Competitive Strengths
It believes that the following are their principal competitive strengths which have
contributed to their current position in the retail sector in India.
1. Understanding of the value retail segment
Their business plan involves implementation of the concept of the value retailing,
targeting the middle and loiter middle income groups, which constitute majority of the
population in India. It intend to provide quality products at competitive prices. It sells
a vast range of merchandise across apparels and accessories, FMCG(frequently
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marketed consumer goods) products, food products and consumer durables with over
74,000 SKUs. Their emphasis has been to maximize the value that the customers
derive in spending on goods bought in their stores. It endear their to continuously
reduce their costs through a variety of measures, such as, in-house production of
apparels, procurement of goods directly from the small and medium size vendors and
manufacturers, efficient logistics and distribution systems along with customized
product mix at their stores depending on the regional customer behave their and
preferences. Central to their value retail strategy is to pass on the benefits of cost
reduction measures to their customers.
2. Supply Chain Management
Their supply chain management involves planning, merchandizing sheering,
standardization, vendor management, production, logistics, quality control,
pilferage control replacement and replenishment. Their supply chain management
provides us flexibility to adapt to changing patterns in consumer behave their and
their ability to add value at various steps/levels. In particular, their supply chain
management gains strength from their ability to undertake in-house manufacture,
design and development of apparels.
3. Logistics and Distribution Network
Their distribution and logistics network comprises seven distribution centers. Besides,
It hastier own fleet of 41 trucks, which helps us to transport and deliver their products
in a cost and time efficient manner. It believe that their distribution and logistics set
up is It'll networked and allows us to fulfill the store requisition within short time
period of generation and receipt of order, which has helped us to optimize in-store
availability of merchandise and minimize transportation costs. Their strong
distribution and logistics network has enabled us to dispense with the requirement of a
dedicated storage space at every store, which is an industry practice, and instead
undertake periodical replenishment of depleted stock. Due to adoption of an efficient
racking system, it is able to benefit from optimum utilization of the space allocated
for display in their stores. This provides us assistance in maintaining a low working
capital requirement and less carrying cost.
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4. Geographical Spread
Their stores and distribution centers are spread in various parts and regions of the
country. This has not only enabled us to build their brand value but also facilitated us
to explore cost-effective stheircing from different locations, identify potential markets
and efficiently establish new stores in different locations. An aggregate of 43 of 50 of
their existing stores are located in Tier II & Tier III cities, which, It believe, enables
us to capture market share in locations where a majority of their target customers are
located.
5. Identifying New Locations
It believe that It possess the ability to identify locations with potential for growth, in
particular in Tier II and Tier III cities. It has an exclusive site identification and
assessment team, which undertakes systematic analysis of the business prospects,
taking into account factors such as population, literacy levels, nature of occupation,
income levels, accessibility, basic infrastructure and establishment and running costs.
Further, it has a dedicated warehouse for the purposes of storing the materials
essential for setting up of new stores.
6. Private Labels
It has a number of private labels for apparels (i.e. apparels manufactured by us- such
as Zeppelin, Paranoia, Chlorine, Katina Studio, Famine, Fltheirier Women and
Roseau. In fiscal 2007, their Income from their Private labels was Rs. 583.60 million,
which accounts for 9.68% of their total sales for fiscal 2007. It believes that their
focus on their private labels and their recognition in their customer segment enables
us to differentiate themselves from their competitors.
7. Information Technology Systems
It believes that efficient information technology systems, processes and business
applications are essential to handle retail chain of their magnitude. Their office
processes are computerized which support procurement, supply chain logistics,
distribution centers management & store operations including inventory management
and billing. It is in process of implementing SAP. All their stores & distribution
centers are connected through a company-wide virtual network connection which
helps to efficiently manage their network of outlets throughout the country.
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8. Experienced and Skilled Management Team
It has an experienced management team which is complemented by a committed
workforce. Their management team comprises of talented professionals who are
skilled in the retail sector. This has assisted us in management of their stores. It
believes it has created the right balance of performance bonuses and other incentives
for their employees.
1.4.4 Their Strategy
It intends to pursue the following strategies in order to consolidate their position
as an operator in the value Retail segment in India. Their growth strategy is
based on:
It intends to increase their penetration in the country by setting up new stores in cities
where it already have Presence, as also entering into new areas in the country. In
particular, it intends to focus on expansion in TierII and Tier III cities. It believe that
their existing infrastructure have been designed for a higher scale of operations than
their current size, and can help us grow without the need to significantly increase
costs. Moreover, their continuous effort to improve systems and processes leads us to
believe that it can deal with higher scale of operations without any hindrance. Higher
business volumes will also improve their negotiating pouters and help us get further
economies of scale in their buying.
1. Emphasis on Backward Integration
It believes that through backward integration It will continue to substantially control
the cost of production, resulting in such cost benefits being passed on to their
customers. It intends to increase the in house manufacture, design and development of
their products and realizes economies of scale. It intends to manufacture at least 25%of their requirement for apparels and may require expansion of their existing
manufacturing facilities. This will also enable us to reduce their reliance on external
agencies for supply of their products and will result in loiter turn-around time. In
addition, their focus would be to undertake in-house such functions of the
manufacturing processes, which, in their view, would add maximum value and would
enable us to reduce their procurement costs.
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2. Expansion of FMCG
Historically, it has derived significant portion of their revenue from sale of apparels.
In pursuance of their business plan to diversify their portfolio of offerings, FMCG
products play a key role. FMCG products are usually meant to fulfill the daily needs
of consumers and therefore, It believe retailing of FMCG products will bring
customers to their stores on a frequent basis and this may in-turn lead to consumption
of their apparels. It believe retailing of FMCG products would help us to eliminate the
impact of seasonality of the apparels market in India, which depends on factors such
as change in tether conditions and festival celebrations. In furtherance of their
endeavtheirs to reduce costs, It intend to procure FMCG products directly from the
manufacturers. For this purpose, It has entered into and will continue to explore the
possibilities of entering into certain arrangements with domestic FMCG majors on
such terms and conditions, which are suitable to their business model.
3. Procurement from low-cost production centres outside India
In addition to their strategy to continue procurement of goods from small and medium
size vendors and manufacturers which leads to cost efficiencies, It intend to procure
FMCG and apparels from low-cost production centers located outside India. Towards
this objective, It propose to increase their procurement of finished and semi-finished
goods from China and there by realize economies of scale and pass on the benefits so
accrued to their customers.
4. Increasing customer satisfaction and their base of loyal customers
It believes that understanding the needs of their customers is of prime importance for
the continuous growth of their business. In order to continuously provide customer
satisfaction, their customer management team assimilates customer feedback and it
endeavtheir to take necessary steps to address the requirements of their customers. In
addition, It has introduced, in association with SBI Cards & Payment Services Private
Limited, a co-branded credit card. It proposes to continuously undertake such
initiatives to increase the satisfaction of their customers.
5. Continue to upgrade information technology systems and processes
It believe that any retail business requires efficient information technology systems
for control over the functioning of various stores including stock management, pricing
and promotion, replenishment, sales, quality control and financial accounting. It are
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currently in the process of upgrading their information technology set up and have
entered into arrangements with leading vendors of information technology services
for implementation of more advanced ERP applications such as SAP. It intends to
periodically upgrade their information technology systems and processes.
6. Continue to train employees & seek entrepreneurship from employees
It believes a key to their success will be their ability to continue to maintain and grow
a pool of strong and experienced professionals. It has-been successful in building a
team of talented professionals and intend to continue placing special emphasis on
managing attrition and attracting and retaining their employees. It intend to continue
their employees to be enterprising and expect them to learn on the job and contribute
constructively to their business, either through ideas, personal networks or effective
knowledge management. It also intend to continuously re-engineer their management
and organizational structure to allow us to respond effectively to changes in the
business environment and enhance their overall profitability.
1.4.5 Corporate Mission
"We share the vision and belief that by improving our performance through
innovative spirit and dedication, we shall serve our customers and stakeholders
satisfactorily.
1.4.6 Corporate Manifesto
Knowledge is the only weapon at our disposal. Everything else is temporary, transient
and misleading. Our quest for knowledge will be focused, systematic and unwavering.
But, it will never be at expense of our values or our beliefs.
1.4.7 Core Value
Indian-ness confidence in ourselves
Dedication to customer satisfaction
Leadership to be a leader both in thought and business
Self Development by continuous hard work
Respect for every individual
Introspection leading to purposeful thinking
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1.4.8 Company Vision
Products that offer real value for money
Caters to the entire household
Customer assistance par excellence
Providing service of customized suits within 48 hours
No question asked exchange policy
Building long term relationships
1.5 Vishal Mega Mart (Berhampur)
There is a boom going on in the retailing sector in the present world. The business
environment in India as well as in other countries like China, South Korea, Germany,
France, UK, Japan, Thailand, Hong Kong, Indonesia etc is becoming very complex
and opportunistic with respect to various sectors as of now Customer is the
KING. Vishal mega mart has been trying to differentiate itself from other local
stores like Lohiya Brothers, Sri Durga Cloth Stores, other franchisee outlets, local
kirana stores so that more number of existing as well as new customers will enter and
be converted into regular loyal customers. From time to time it is providing discounts,
offers, schemes, better ambience, wide assortment of goods with innovative visual
merchandising, competitive pricing, better customer value, better service through
employees etc. it has been very difficult for the management of the store for making
the customers loyal towards the store because of the complexities of the consumers
and competitors.
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Table 1.2 Floor Wise Product Details
Floors Categories Products
Grounds Mens wear T-shirts,
Shirts,
Serwani, Jean Pants, trousers
FMCG Edible Oils, Pulses, Juices, Spices, Milk
Products, Groceries, Frozen Foods, Beverages,
Rice, Ready to Cook items
Life style Personalcareproducts (Body spray Perfume,
Powder, Nail polish, Soaps, Face Creams etc.)
Gift Items(Birthday Gifts, Cards, Flower
Base),1st Floor Home linen
Section
Single Bed sheets, Double Bed sheets, Pillow
Covers, Sari Covers, Blouse Covers, Bags,
Blankets, Bed Covers
Electronics Light and sound (television, audio system,
home theatre, dvd/mp3 player)
My thing (iron, inverters. shavers, , fans, hair
dryers)
Cook and serve(microwaves, cooking ranges,
mixers & grinders)
Kids wear girls wear,
boys wear(Seasonal Wear, Party wear,
Bottom wear)
Infant wear(Infant utility, Essential and wear)
Ladys wear Ladies Ethnics,
Western Wear(capris, jeans, Trousers, cargos,
Half Sleeves, Full sleeves),
Ladies Fabrics ,Accessories and Saree
Section(South Cotton, Smooth, Bandhini,
Kotta Cotton, Lizibizi, Batik Print, Lucknow
Stitch, Boby Print, Khadi, Tossar
2. REVIEW OF LITERATURE
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The aim of marketing is to meet & justify target customers need & want. The field of
consumer behavior studies how individuals, groups, and organizations select, buy,
use, and dispose of goods, services, ideas, or experiences to satisfy their need and
desires. Understanding consumer behavior is never simple, because customer may say
one thing but do another. They may not be in touch with their deeper motivation, and
they may respond to influences and change their minds at the last minute.
2.1 Consumer
A Consumer is anyone who engages himself/her self in physical activities of
assessing, attaining, using or disposing of good and services for which he/she pays the
money for its usage. If a person buys the product but is consumed by his/her family
then in that case that family member will be actual CONSUMER and the person
who has paid the money will be termed as CUSTOMER.
2.2 Consumer Behavior
Consumer behavior refers to the mental emotional process and the observable
behavior of consumers during searching, purchasing, and post consumption of productand service.
Consumer behavior involves the study of how people buy, what they buy, when they
buy, and why they buy. it blends the element from psychology, socio psychology,
anthropology and economics. It also tries to assess the influence on the customer
from group such as family, friend, reference groups and society in general.
Buyer behavior has two aspects: the final purchase activity visible to any observer and
the detailed or short decision process that may involve the interplay of a number of
complex variables not visible to anyone.
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2.3 How and Why Consumer Buy
The starting point for understanding consumer buying behavior is the stimulus
response model shown in the figure . as the model shows both marketing and
environmental stimuli enter the buyer consciousness. In turn, the buyer characteristics
and decision process lead to certain purchase decisions. The marketers task is to
understand what happens in buyer consciousness between the arrival of outside
stimuli and buyers purchase decisions.
As this model indicates, a consumers buying behavior is influenced by cultural,
social, personal and psychological factor
Figure 2.1 Model of Consumer Buyer Behavior
2.4 Characteristics Affecting Consumer Behavior
2.4.1 Cultural Factor
CULTURE: Set of basic values, perceptions, wants & behavior learn by a
member Society from family and other institution
SUBCULTURE Group of people with shared value system based on common life
experience & expectation.
SOCIAL
CLASS
Measured by occupation, income, education & wealth.
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2.4.2 Social Factor
REFERENCE
GROUP
Formal or in formal group to which a person belong
FAMILY Key group in terms of attitudes, briefs & learned behavior.PERSONAL Personal characteristic such as age, occupation, family life style
2.4.2 Personal Factor:
AGE & LIFE
CYCLE
Tastes in food, cloth, furniture, recreation change with age.
OCCUPATION Eg. Purchase of rugged cloth by a labourer.
ECONOMIC
SITUATION
More or less income affect the persons buying behavior.
2.5 Types of Buying Behavior
ROUITINE OR PROGAMMED: HABITUAL PURCHASE- It applies to
low involvement product such as salt. consumers keep buying same brand out of
habit, not due to strong brand loyalty, because they are passive receiptent of
information conveyed by advertising. Ad reception creates a brand familiarity rather
than brand conviction.
DISSONANCE-REDUCING BUYER BEHAVIOR - It applies to high
involvement product such as car. Car is a expensive & self expressive. Yet the
buyer may consider most brand in given price range to be same. After buying,
the consumer might experience dissonance after noticing certain disquieting
feature. marketer should there fore supply belief & evaluation that help
consumer feel good about their brand choice.
VARIETY-SEEKING BUYING BEHAVIOR - It applies to low
involvement products such as cookies .in this category, consumer switch brand
often because they want more variety. The market leader will there fore try to
encourage habitual buying behavior by keeping shelves stocked and running
frequent reminder ad.
2.6 Roles in the Buying Process
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INITIATER: The person who suggest for think of the idea of buying a particular or
service.
INFLUENCER: a person whose views or advice carry weight in making the final
buying decision.
DECIDER: The person who ultimately makes the final buying decision or any part
of it.
BUYER: The person who makes the actual purchase.
USER: The person who consume the product or service.
Figure 2.2 Consumer Decision-Making Process
2.6.1 Problem Recognition
Purchase decision making process begins when a buyer becomes aware of an
unsatisfiedneed or problem. This is the vital stage in buying decision process, because
without recognizing the need or want, an individual would not seek to buy goods or
service. There are several situations that can cause problem recognition, these include:
Depletion of stock
Dissatisfaction with goods in stock
Environmental Changes
Change in Financial Situation
Marketer Initiated Activities
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2.6.2 Information Search
After the consumer has recognized the need, he / she will trying to find the means to
solve that need. First he will recall how he used to solve such kind of a problem in the
past, this is called nominal decision making. Secondly, a consumer will try to solve
the problem by asking a friend or goes to the market to seek advice for which product
will best serve his need, this is called limited decision making.
Sources of information include:
Personal sources
Commercial Sources
Public sources
Personal experience
2.6.3 Alternatives Evaluation
Consumers evaluates criteria refer to various dimension; features, characteristics and
benefits that a consumer desires to solve a certain problem. Product features and its
benefit is what influence consumer to prefer that particular product. The consumer
will decide which product to buy from a set of alternative products depending on each
unique feature that the product offers and the benefit he / she can get out of that
feature.
2.6.4 Purchase Action
This stage involves selection of brand and the retail outlet to purchase such a product.
Retail outlet image and its location are important. Consumer usually prefers a nearby
retail outlet for minor shopping and they can willingly go to a far away store when
they purchase items which are of higher values and which involve higher sensitive
purchase decision. After selecting where to buy and what to buy, the consumer
completes the final step of transaction by either cash or credit.
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2.6.5 Post-Purchase Actions
Consumer favorable post-purchase evaluation leads to satisfaction. Satisfaction with
the purchase is basically a function of the initial performance level expectation and
perceived performance relative to those expectations. Consumer tends to evaluate
their wisdom on the purchase of that particular product. This can result to consumer
experiencing post purchase dissatisfaction. If the consumers perceived performance
level is below expectation and fail to meet satisfaction this will eventually cause
dissatisfaction, and so the brand and/ or the outlet will not be considered by the
consumer in the future purchases. This might cause the consumer to initiate complaint
behavior and spread negative word-of-mouth concerning that particular product.
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3. METHODOLOGY
Research methodology is a systematic way to solve the research problems, It refers
for knowledge, a scientific and systematic search for information Marketing research
is the systematic design, collection, analysis and reporting of data and finding relevant
to a specific marketing design, collection, analysis and reporting of data and finding
relevant to a specific marketing situation facing the company.
3.2 Data Collection
Data collection means collections of information, facts or figures for the problem.
Primary data collection- Primary data is the first hand information obtained by
investigator. Primary source is one itself collects the data. Primary data can be
collected by observation, by interviews, by face to face questioning, by using
questionnaire, when the needed data do not exist or are dated, inaccurate, incomplete,
or unreliable.
Secondary Data Collection Secondary data is collected by others already and there
searcher is using that information for his own research purpose. Secondary data can
be collected from published reports, newspaper, websites, journals, publications of
national and international organization.
3.3 Sampling Plan
Sampling unit - Walk-in customers in retail outlet.
Sample size - 50
Sampling Instruments- Questionnaire, face to face interview
3.4 On the Job Training
On the job training (OJT) gives a practical exposure and helps acquiring knowledge
about Vishal Mega Mart.
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3.4.1 Work Schedule
In 1st & 2nd week I did my project at electronics and FMCG item. I collected the data
about the products and took feedbacks and suggestions of costumers.
In 4th & 5 th week I stayed at Males wear, ladies wear & kids wear section. I got the
basic product knowledge and interacted with the costumers and took their
suggestions.
3.4.2 Schedule for Project Work in Vishal Mega Mart
I used to report at 11:00am in the morning session .I used o start my job at 11:00a.mand used to finish my job at 7:00p.m onwards.
3.5 Limitations of the Study
In attempt to make this project authentic and reliable, every possible aspect of the
topic was kept in mind. Nevertheless, despite of fact constraints were at play during
the formulation of this project. The main limitations are as follow.
The main source of data for the study was primary data with the help of self-
administered questionnaires. Hence, the chances of unbiased information are
less.
Concern person from the organised retail stores were hesitant to disclose the
true facts as the data related to strategic secrets.
The chance of biased response cant be eliminated though all necessary steps
were taken to avoid the same.
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4. DATA ANALYSIS & INTERPRETATION
By analyzing the questionnaire the following data obtained.
Responden
t
name
Occupa
tion
Permanen
t
Address &
phone no.
Purpose
To come
Attrced
towards
product
Expectati
ons
Towards
Products
Influe
nce
by
Decisi
on
make
rs
Servic
e
qualit
y
Rakesh
Nayak
Student Courtpeta,
Berhampur
993738667
1
Furniture
item
Price After sales
Service
News
paper
Parent
s
Excelle
nt
Jagganath
Sathpathy
Doctor Berhampur Electronic
s item
Design Quality
Guarantee
Media Wife Excell-
entSom
Achari
Student berhampur FMCG
item
Price Quality Media Parent
s
Very
goodOlempia
Chaterjee
Govt.
employe
e
Kolkotta FMCG
item
Price Quality Media Own Good
Chitrita
Prusty
MBA Pune,
993794050
Furniture Price Quality
gaurante
News
paper
Own Good
Sasmita
Nayak
Bank
employe
e
Pune,
986114769
9
Fmcg
item
Price Quality Media Parent
s
Very
good
Deba Ranjan
Parida
Contract
or
BBSR,
986115532
3
Garments Quality After sales
Service
Friends Wife Very
good
Ganesh
mishra
ISDO
ONIDA
BBSR Garments Design After sales
Service
Others Wife Excelle
ntSantosh
Majhi
Employe
e
Berhampur Garments Brand
name
Quality
guarantee
Friends Wife Excelle
ntRashmita
Dehuri
House
wife
Kommapali,
Berhampur
Food item Home
Require
ment
Quality
guarantee
News
paper
Husba
nd
Good
Debashis
Majhi
Student,
R.I.T.
R.I.T. Hostel Electronic
s item
Brand
name
After sales
Service
Friends Parent
s
Very
goodGopal
Mukherjee
Employe
e
Gatebazaar
,
Berhampur
Garments Quality Quality
guarantee
Media Wife Very
good
Ashis
Panda
Employe
e
Old bus
stand,
Berhampur
Electronic
s item
Brand
name
After sales
Service
Friends Own good
Amit Kumar Student Berhampur Electronics item
Quality Qualityguarantee
Newspaper
Own good
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Rajesh
Parida
Engineer BBSR Food item Home
Require
ment
After sales
Service
Friends Own Excelle
nt
Sonam
Yougal
Admini-
strator
Berhampur Garments price After sales
Service
News
paper
Own Excelle
ntSnigdha PR
consulta
nt
BBSR Food item Home
Require
ment
After sales
Service
Friends Own Very
good
D.Swarna
Kumar
Student Berhampur garments design Quality
guarantee
Friends Own Poor
Madhabi House
wife
Berhampur Garments Price Quality
guarantee
Media childre
n
Good
Sasmita
Mahapatro
House
wife
New bus
stand,
Berhampur
Fmcg
item
Home
Require
ment
After sales
Service
Friends Husba
nd
Good
Sushil
Mehta
Business
man,
9853409
63
New bus
stand,
Berhampur
Fmcg
item
Price Quality
guarantee
Media Own Good
Sugiura House
Wife
Old bus
stand,
Berhampur
Fmcg
item
Price After sales
service
Friends Husba
nd
Excelle
nt
Ranjan
Pradhan
Student Old bus
stand,Berhampur
Electronic
sitem
Design After sales
service
Media Friend
s
Excelle
nt
Sidhart
Mishra
Student Rourkela garments Brand
name
Quality
guarantee
Friends Own Good
Pratyush
Mihsra
Business Rourkela garments Price After sales
service
Media Wife Very
good
Kishor
sahu
student Mahavir
college,
BBSR
Others Price Quality
guarantee
Friends Own Excelle
nt
SubhalaxmiAchary
HouseWife
Tata benz,Berhampur Fmcg
item
Price After salesservice
Newspaper
children
Verygood
Debasish
Mishra
Employe
e Ericson
Bangalore Others Brand
name
Quality
guarantee
Newsp
aper
Parent
s
Excelle
nt
Monoj
Pattnaik
Teacher Berhampur Garment Quality Quality
guarantee
Own Own good
Chandra
Sekhar
Sethy
RCM BBSR Others Quality Quality
guarantee
Own Own good
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Ashis
Panigrahy
Student,
employe
e,
satyam
Gunupur Others Price After sales
service
News-
paper
Own Excelle
nt
Guptesh
Mishra
Employe
e , India
Bulls
Berhampur Garments design After sales
service
Media Parent
s
Very
good
B.C Mishra City
Finance
BBSR Electronic
s
item
Quality Quality
guarantee
Own Parent
s
Good
T.Sanjeev Student,
BCA
Jamsedhpur garments design After sales
service
Media Own Excelle
nt
Jyotshna
Padhi
Lecturer
IRPM
V.Udayagiri Fmcg
item
Price After sales
service
Own Husba
nd
Adyasha
Menon
Student Mahavir
college
Garments design Quality
guarantee
Friends Own Very
good
Suman
Kumari
Student BRM,BBSR Electronic
s item
Price After sales
service Others
Own Excelle
nt
Prasana
Rath
Engineer
,RSP
Rourkela Others Quality Quality
guarantee
Media Wife Excelle
ntPadma
NabhaMahapatro
BM,KCC
Bank
Rayagada Others Brand
name
After sales
service
News
papers
Childr
en
Very
good
Gyani Rao Business
man
Vishakapat
nam
Food
Bazaar
Price After sales
service
Media Own Excelle
nt
Asha Rao House
Wife
Berhampur Others design Quality
guarantee
Own Childr
en
good
Reema
Debnath
House
Wife
Cuttack Others Price After sales
service
News
papers
Husba
nd
good
Charchita
Mahapatro
Student Rayagada garments quality Quality
guarantee
Own Parent
s
Excelle
ntV.Avilash
Rao
Employe
e,studen
t
Hyderabad Others design After sales
service
Media Own Excelle
nt
Radha
madhav
Sathpathy
Employe
e,CIPLA,
Goa
Goa Electronic
s
Items
Price After sales
service
Media Parent
s
good
Deba Prasad
Pattnaik
Teacher Koraput garments price Quality
guarantee
News
papers Wife
Very
good
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Keshab
TIwari
Teacher Cuttack Furniture
items
Brand
Name
After sales
service
Friends Husba
nd
good
Jinita
tripathy
House
wife
Cuttack Fmcg
item
Brand
Name
After sales
service
Own Own good
Chandan
Dash
Employe
e, IBM
Bangalore Electronic
s item
Home
requirem
ent
Quality
guarantee
Media Parent
s
Very
good
Rekha
Priyadarsha
n
Student Berhampur Fmcg
items
Design After sales
service
News
paper
0wn Poor
INTERPRETATION:
(1) ARE YOU AWARE ABOUT THE RETAIL SHOP?
Figure 4.1 Awareness of Retail Shop
From the above pie chart shows that maximum number of customers know about
retail shop i.e. 85%.
(2) WHICH DEPARTMENTAL STORE YOU PREFER MOST?
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Figure 4.2 Preferation of Departmental Store
Most of the customers are prefer Vishal i.e. 67% where as Murali Departmental store
is below i.e 3%.
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(3) WHY YOU PREFER VISHAL MEGA MART TO PURCHASE?
Figure 4.3 Reason for Choosing Vishal
Most of the customer prefer vishal for its low price.i.e.40%.even some of them prefer
its service quality.i.e.25%.its product quality & product variety adopted by 15% &
20% of customer respectively in survey.
(4) FROM WHICH MEDIUM YOU ARE INFLUENCED FOR PURCHASE?
Figure 4.4 Major Influencer
Most of the customer influenced by newspaper i.e. 35%. 20% customer influenced
by media.25% customer are influenced ownly.20% customer are influenced byfriends.
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(5) WHICH BRAND PRODUCT YOU PREFER TO PURCHASE FROM
VISHAL?
Figure 4.5 Own Brand Vs. Other Brand
Most of the product in Vishal are their own brand product. Customer are also prefer
its own brand product i.e. up to 60%.other brand product are preferred up to 40%.
(6)WHICH ITEM YOU USUALLY PREFER TO PURCHASE?
Figure 4.6 Preferable Item to Purchase
Home needs items are prefered mostly i.e. up to 40%.20% customer are preferd Foot
wear.30% & 10% customer prefer to purchase dresess % electronic goods.
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(7) WHICH DISPLAY STRATEGY EFFECTS ON YOU TO PURCHASE
FROM VISHAL?
Figure 4.7 Effect of Display Strategy
Display with touch make more effect on consumer behavior.i.e. 50%. Display with
smell make less effect in comparison to display with light & sound.
(8) WHO IS THE DECISION MAKER FOR PURCASING THE PRODUCT?
Figure 4.8 Decision Maker
In buying process decision are mostly taken by parents i.e.40%.husband/wife make
decision for purchse i.e. 20%.30% customer are make decision ownly.
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(9)WHICH FACTOR INFLUENCE THE CONSUMER BUYING PROCESS?
Figure 4.9 Factor Effecting Buying Process
Income level of customer affecting buing behavior in 40% case.25% customer Buying
process affected by store location & size.education level make less effect
On consumer buying process.
(10) IN WHICH BUYING SITUATION CUSTOMR PREFER TO
PURCHASE?
Figure 4.10 Preferred Buying Situation
45% of customer prefer to straight rebuy they are preferig habitual uing process. 20%of customer are prefer to take new task.
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(11) OVERALL YOU MARK VISHAL AS?
Figure 4.11 Overall Ranking of Vishal
40% of customer ranked vishal as excellent.30% of customer ranked vishal as
Good. 5% of them ranked it not good.
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5. CONCLUSION & SUGGESTIONS
5.1 Conclusion
The customers needs are straight and specific. The customer should not be forced to
change despite his reluctance to accept change. It is essential that bank understand and
accept the fact that the marketplace is made up of individual customers. The mantra
should be to create and deliver value in such a way that it always stays one step ahead
of its customers. The first step towards this is entry-level satisfaction, which helps in
fine-tuning the customer mind. This must be followed by the identification of the
specific problems, which arise from time to time, and resolving the same. Deep and
insightful knowledge of the customer will be the key asset for staying competitive in
the millennium.
5.2 Suggestions
The company should measure customer satisfaction regularly.
Company can increase the sales when it considering more on stock of the material,
their suggestions or complaints about service or product so that necessary action can
be taken.
Review meeting should be often held so that the working pattern of the executives can
be checked and improved if needed.
Since customers are value maximizes and their expectation to this brand is high, as
the brand image shows their quality is supervene so the company should also take
feed back at time to time. By this can make their brand level.
Company should try to maintain manpower.
Sales people and delivery persons should properly monitor the market whether stocks
are available and are properly utilized in the store or not.
Display material should be provided to the retail store on more regular basis to
increase the sales level.
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ANNEXURE
Respondent Name:
Permanent Address:
Occupation:
Gender:
Age:
Phone No:
1. Are you aware about retail market?
A. YES
B. NO
2. Which is the best retail store to purchase?
A. BIG BAZAR
B. BAZAR KOLKATA
C. THE WORLD
D. VISHAL MEGA MART
3. Why you prefer Vishal mega mart to purchase?
A. GOOD QUALITY PRODUCT
B. PRODUCT PRICE IS LOW
C. QUALITY SERVICE
D. VARITY OF PRODUCT AVAILABLE IN STORE
4. From which medium you are influence for purchase?
A. NEWS PAPER
B. FRIENDS
C. MEDIA
D. OWN
5. Which brand product you prefer to purchase from Vishal?
A. OWN BRAND
B. OTHER BRAND
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6. Why you prefer Vishals own brand product?
A. PRODUCT PRICE IS LOW
B. PRODUCT QUALITY IS GOOD
C. GUARANTY & WARANTY SERVICE
D. DEFECTIVE PRODUCTS EXCHANGED
7. Which item you usually prefer to purchase?
A. HOME NEEDS
B. FOOTWEARS
C. DRESSES
D. ELECTRONIC GOODS
8. Is the display strategy effect the customer purchasing behavior?
A. YES
B. NO
9. Which display strategy effect on you to purchase from Vishals?
A. DISPLAY WITH LIGHTING
B. DISPLAY WITH SOUND
C. DISPLAY WITH SMELL
D. DISPLAY WITH TOUCH
10. Is the discount given by Vishal attract the customer attention for the product?
A. YES
B. NO
11. Who is the decision maker for purchasing the product?
A. PARENTS
B. OWN
C. HUSBAND /WIFE
D. CHILDREN
12. Which factor effect the consumer buying process?
A. STORE LOCATION, SIZE, FACILITIES
B. INCOME LEVEL
C. EDUCATION LEVEL
D. TASTE & PREFERENCE
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13. In which buying situation the customer prefer to purchase?
A. STRAIGHT REBUY
B. MODIFIED REBUY
C. NEW TASK
13. Overall you mark Vishal as?
A. EXCELLENT
B. GOOD
C. OKAY
D. NOT GOOD
14. Any suggestion
A. (--------------------------------------------------)
B. (--------------------------------------------------)
C. (--------------------------------------------------)
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