ACKNOWLEDGEMENT All acclamation to Allah who has empowered and enabled me to accomplish the task Successfully first of all I would like to thank our Allah Almighty who really helps me in every problem during the project. I would like to express my sincere and humble gratitude to Almighty who’s Blessings, help and guidance has been a real source of all my achievements in my life. I would like to admit that I completed this project due to parents who pray for my success. I also wish to express my appreciation to my supervisor Muhammad Younas who helps me a lot and introduce me to new dimension of knowledge.
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Transcript
ACKNOWLEDGEMENT
All acclamation to Allah who has empowered and enabled me to
accomplish the task
Successfully first of all I would like to thank our Allah Almighty who
really helps me in every problem during the project. I would like to
express my sincere and humble gratitude to Almighty who’s
Blessings, help and guidance has been a real source of all my
achievements in my life.
I would like to admit that I completed this project due to parents who
pray for my success.
I also wish to express my appreciation to my supervisor Muhammad Younas who helps me a lot and introduce me to new dimension of knowledge.
DEDICATION
My project is dedicated to my beloved Parents, teachers,
brothers, sister and all of my well wishers.
Outlines
What is Business Research
Data and its types
Objectives of Decision Making
Elements of Decision Making
Relevant costs of Decision Making
Future
Incremental
Cash Flow
Other Terms
Opportunity Cost
Practical Study at Unilever Limited
Introduction of Unilever Limited
Products Units
Costing Department
SWOT Analysis
Reference
What is Business Research?
‘Research’ has been defined in a number of ways, depending upon peculiar interests and demands of the researcher, his professional training and skills and, of course, the nature of the problem being examined or analysed. In this sense, there is no one standard definition of research (same is true of the dictionaries defining research). Similarly, there is no one way of doing research. Research can be done in numerous ways, from chronological to descriptive to analytical, from qualitative to quantitative, from explanatory to predictive, from exploratory to evaluative (cost - benefit analysis) to instrumental and action-oriented, to theoretical to applied research. There is a whole variety of research possible.
In a similar vein, the term ‘methodology’ has been defined in various ways, indeed ‘normatively’ and ‘structurally’. Normatively, it has been defined in the sense of theory of knowledge (epistemology) or philosophy of science. The dominant theory, of course, is ‘logical positivism’, a philosophical tradition that holds that all ‘facts’ are derived from ‘experience’, defined minimally in terms of senses, and that all knowledge is based on experience. Judgments of ‘values’ cannot be accepted as knowledge.
The main argument of the empiricists as a whole remained, as always, their emphasis on experience, empirical experience. That is, an experience brought forth by facts which could be ‘observed’ and ‘verified’. In operational terms today, it means identification of the problem (research problem), formulation of hypotheses (the relation of ‘independent’ variables to one or more ‘dependent’ variable/s), collection and analysis of data to test the variables in a measurable relation, rejection or validation of hypotheses suggesting a relationship (ideally ‘causal’, that is, ‘cause and effect relationship’), and generalization of the findings or conclusions into a ‘theory’, ‘model’, ‘system’, or an ‘approach’. This process of inquiry that tests against reality in a disciplined manner, with each step in the process quite explicit and integral, is described as the ‘scientific’ method, or, more specifically, the ‘empirical method’ (after the empiricists).
DATA & IT TYPES
Data are facts, figures, enumerations and other materials, past and present, serving as basis for study and analysis; they are raw material for analysis; provide basis for testing hypothesis, developing scales and tables
Data help researchers draw inferences on specific issues/ problems
Quality of Findings depend on relevance, adequacy and reliability of data
I. Use existing data Already collected by someone else for different / general purpose (paper method) i.e,
Secondary data
Published or unpublished Retrospective panel study Letters Unpublished biographic / autobiographics Library statistics Raw data like invoices / log data for expenditure & use of data
bases Published directories for (i) study funding for research activities
(ii) statistics about publishing industry Published reports of UN, world bank, IMF, WHO, ILO etc.
Use Secondary data As supplementary data For reference purpose As bench marks (for comparison) Rarely as sole / main source
Advantages
Quick Cheap Wide coverage (space and time) Broad database leading to generalizations Cross check Primary data
Disadvantages
Suitability Up-to – dateness Accuracy Availability and accessibility
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Scrutinize Secondary data for
1. Reliability Who collected (possible bias) From what sources Which methods What time What accuracy
2. Suitability Definition of terms Units of measurements Objective, scope and nature of survey
3. Adequacy Level of accuracy Narrower or wider than present study Completeness in terms of methodology and sampling design
Types of Secondary data
1. published (literature02. Unpublished
- Diaries - Letters - Unpublished biographic
A Meta analysis
- Analysis of several analyses
- A way of extracting meaningful (statistical) information / data from lots of small studies (trials).
B. Historical Method - Systematic and objective location, evaluation and
synthesis of evidence order to establish facts and draw conclusions about past events
- Deals with the evidence of man’s past acts and thoughts - Attempts to test the truthfulness of the report of
C. Content analysis ( a quantitative method)-Both for collection and analysis of data -Developed in USA for communication research -Useful for historical research
Definition:-
A quantitative analysis of contents of written documents, i.e a multipurpose research method meant specially for investigating a broad spectrum of problems in which the contents of communication serve as a basis of inference
Transforms verbal, non quantitative document into quantitative data
Systematic and quantitative description of manifest contents of communication
DATA COLLECTION THROUGH EXPERIMENTATION ON THE SUBJECT EXPERIMENTATION (& OBSERVE)
Basic design of logical proof to test hypothesis with three basic principles:-
- Replication –Repeated Several times
- Randomization – protects extraneous factors of chance
- Local Control – Deliberate wide variability to measure and eliminate error
Helps finding causal relationship between variables
Employs a set of control and experimental groups
Administration treatment / stimuli
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Controlled observation of change / deviation in variables (Adequate control is the essence => reduce bias increases reliability
Types:
Lab experiments Field experiments – A real life situation
Simulate the condition
Simulation (& observe)
Cheaper and suited to systems with interrelated and interdependent components
Types:
Man simulation (role / game playing) Computer simulation Man-computer simulation Used in war strategies, behavioral, political economics and business
problems
Applications
Earliest use involved work counts and usage rates of words (i) throw light on authenticity of a source document (ii) drawing inference about inner emotional states (e.g. anxiety)
Personality traits from logical and cognitive characteristics of verbal communication
Aspects of culture and cultural change probe hypothesis pertaining to the contents of material e.g themes of most contemporary best –selling novels are based primarily upon sex or violence”
Identify activities characterized as sex or violence
Quantitatively analyses the themes (content)
Test the hypothesis
Hypothesis testing is facilitated when a comparison is sought ina study between or among elements of various documents role of mass media in moulding public opinion
Stand of newspapers on current issues
Philosophy of saints, leaders, authors etc
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Themes and values of novels and short stories
Socio-cultural life in ancient times
Measuring behaviour variables like need, values, attitudes, authoritarianism, creativity, etc through analysis of both available materials and deliberately created materials of protective type
Propaganda technique (marketing)
Literary style, concepts or beliefs of writers
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EXECUTIVE SUMMARY
During the past four decades Pizza Hut has built a reputation for excellence that has earned the respect of consumers and industry experts alike. Building a leading pizza company ahs required relentless innovation, commitment to quality and dedication to customer service and value. The qualities of entrepreneurship, growth and leadership have characterized Pizza Hut’s business through more than four decades of success. Through the strength of its heritage, its culture and its people and franchisees, pizza hut looks forward to more success in future.
There are different objectives of every organization. In order to achieve these objectives different targets are set. Targets pass down the hierarchy depending on the nature of the business. Therefore, in order to achieve the objectives, management decides on different strategies. These strategies are divided into many sub-parts and are useful for the running of the business. The employees and the management know what they have to achieve through the targets which have been set to them and the strategies they have adopted help them know the way they will achieve the objectives. Similarly, Pizza Hut has different targets set to them and they have adopted different strategies to successfully achieve the targets set to them and they have adopted different strategies to successfully achieve the targets set. These targets are set by the RSC i.e. the restaurant support centre in Karachi. These targets are passed on to the RGM (restaurant general manager) and he passes them to the workforce. These targets fall within the organizational structure in which there are many people who have different targets to achieve. In order to successfully achieve the targets they need to co-operate and work in a friendly environment.
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History of Pizza
About pizza, some will tell you Italy. That’s wrong. What you know as Pizza came into vogue around the time of Napoleon and the French revolution Italians, known to be lovers of fine food and wines perfected and imported this terrific dish to America. Form here it quickly endeared itself to mass production and re-export to the rest of the world. Bon appetite
Introduction and history of Pizza Hut
The legacy of pizza hut began in 1958, when two collage student from Wichita kankas, frank and Dam carney, were approached by a family friend with the idea of opening a pizza parlor. Although the concept was relatively new to many Americans at that time, the brother quickly shows the potential of this new enterprise.After borrowing $600 from their mother, they purchase some second hand equipment & rented a small building on a busy intersection in their home town. The result of their entrepreneur efforts was the first pizza hut restaurant and the foundation for what would become the target and most successful pizza restaurant company in the world.Over the post for decades they have built a reputation for excellence that has earned them the respect of consumers and industry experts a like, their products have boon voted number one in the countless consumer surveys patrimonies and their accomplishments as an innovative business leader have been cited by such respected publications as restaurant business. Pizza hut a division of Tricon Global Restaurant has more than 7200 units in the US and 3000 units in more than 86 other countries. What did it take to build successful business of that magnitude? To took hard work, to be sure, and it took a commitment to quality and a dedication to serine and value. But perhaps as much as anything. It took the qualities of entrepreneurship, growth and leadership which have characterized our business through nearly four decades of success.
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MISSION STATEMENT
We take pride in making a perfect pizza and providing courteous and helpful service on time all the time. Every customer says, “I” II be back!”
We are the employer of choice offering team members opportunities for growth, Advancement, and rewarding careers in a Fund, safe Working Environment.
P.E.A.R.L.S
Passion for excellence in Doing everything Execute with positive energy and urgency. Accountable for growth in customer satisfaction and profitability Recognize the achievement of others and have fun doing it. Listen and more importantly, respond to the voice of the customer.
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Major Competitors of Pizza Hut
Domino’s McDonald KFC Taco bell
Recently pizza hut declared that they capture 40% market share among pizza hut industry in whole world.
Five Major Product of Pizza Hut
Pan Pizza Thin ‘ N Crispy Pizza Hand –tossed style Pizza Stuffed Crust Pizza Yorker Pizza
Recently pizza hut introduced new pizza in market i.e. Damini Strips Pizza
Products of Pizza hut which prefer more in Islamabad
Double Cheese Country fest Exotica Veg.supreme
In Islamabad city double cheese pizza has big market than any other products of Pizzahut.
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BRIEF VIEW ON THE TOPIC
Customer satisfaction:
Satisfaction is the level of a persons felt state resulting from comparing a products performance in relation to the persons expectations. Thus the satisfaction level is a function of the difference between perceived performance and experience one of three broad levels of satisfaction. If the performance falls short of expectations, the customer is dissatisfied. If the performance matches the expectation, the customer is satisfied. If the performance exceeds expectation, the customer is highly satisfied, pleased, or delighted.
METHODS OF TRACKING AND MEASURING CUSTOMER Satisfaction:
A company tools for tracking and measuring customer satisfaction range from the primitive to the sophisticated. Customer satisfaction they are creating.
i. Complaint and suggestion systemsii. Customer satisfaction surveysiii. Ghost shoppingiv. Lost customer analysis
Complaint and suggestion systems:
A customer-centered organization would make it easy for its customers to deliver suggestions and complaints. Many restaurants and hotels provide forms for guests to report their likes and dislikes. A hospital could place suggestion boxes in the corridors, supply comment cards to exiting patients, and hire a patient advocate to handle patient grievances. These information flows provide these companies with many good ideas and enable them to act more rapidly to resolve problems.
Customer satisfaction survey:
A company must not conclude that it can get a full picture of customer satisfaction and dissatisfaction by simply running a complaint and suggestion system. Studies show that customers are dissatisfied with one out of every four purchases and less than 5% of dissatisfied customers will complain. As a result customer will shift to other organization.
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Therefore, companies cannot use complaint levels as a measure of customer satisfaction. Responsive companies obtain a direct measure of customer satisfaction by conducting periodic surveys. They send questionnaires or make telephone calls to a random sample of their recent customers to find out how they feel about various aspects of the company’s performance. They will also solicit buyers’ views on their competitors’ performances.
Ghost shopping:
Another useful way to gather a picture of customer satisfaction is to hire persons to pose as potential buyers to report their findings on strong and weak points they experienced in buying the company’s and competitor’s products. These ghost shoppers can pose certain problems to test whether the company’s sales personal handle the situation well.
Lost customer analysis:
Companies should contact customers who have stopped buying or who have switched to another supplier to learn why this happened. This will help them to known and tackle their weak point. Thus companies give due weight to customer satisfaction because in today’s competition if the customer are not given importance then it sure that the company will plummet to the bottom rock..
Problem Definition
To find out problem is the first stage of the research process. It represents translating the management problem into research problem. It is right said, “a problem well defined is half – solved.” Problem identification, from the researcher’s point of view, represents translating the management problem into research problem. It is notices that pizza hut company has adopted various schemes to satisfy their customer satisfaction is a special part of any marketing research, without it you can’t complete your research. By studying consumer satisfaction level of the customers, the marketers can easily come to know about the needs of various types of customers and accordingly he can satisfy them. Therefore, the research requires, “the comparative study on customer’s satisfaction level with special reference to Islamabad city. The solution will be helpful the analyzer to find out the current satisfaction level for the pizza of pizza hut.
OBJECTIVE
To know the satisfaction level of customer on pizza of pizza hut. To know which type of taste customer likes in pizza. To know the visit of customer in a week of pizza hut.
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LIMITATION
The survey was conducted within the limited time frame; so few shortcomings may be expected.
The respondent’s personal bias may be another factor, which is uncontrollable.
The finding of the survey is strictly based on the responses of the respondents. it is difficult to find the euthenics be true, so we are assuming them to be true.
SIGNIFICANCE OF THE STUDY
The study is helpful to company for knowing that how many persons are satisfied with pizza of pizza hut.
Company can make the product better as per customer suggestion. During study researcher get large experience and introduced himself in
front of new people.
RESEARCH METHODOLOGY
GENERAL INTRODUCTION
Research in common parlance refers to a search for knowledge. One can also define research as a scientific and systematic search for pertinent information on a specific topic. In fact, research is an art of scientific investigation. The advanced learner’s dictionary of current English lays down the meaning of research as “a careful investigation or inquiry specially through search for new facts in any branch of knowledge.” Redman and moray define research as a “systematized effort to gain new knowledge.” Some people consider research as movement, a movement from the know to unknown to unknown. It is actually a voyage of discovery. The Webster’s international dictionary proposes a very inclusive definition of research as “a careful, critical inquiry or examination in seeking facts or principles; diligent investigation in order to ascertain something.” Research, stated otherwise, is a systematic attempt to push back the bound of comprehension and seek beyond the horizons of our knowledge some “truth” or some reality, shrouded in a subtle why and consequently, to keep on extending as also consolidating these horizons without end.According is an academic activity and as such them term should be used in a technical sense. According to Clifford woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions: collecting, organizing and evaluating data, making deductions and reaching conclusions; and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis.D.
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Slazenger and m. Stephenson in the encyclopedia of social sciences define research as “the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in the practice of an art.”Research is thus, an original contribution to the existing stock of knowledge making for its advancement. It is pursuit of truth with the help of study, observation, comparison and experiment. In short, the search for knowledge through objective and systematic method of finding solution to a problem is research. The systematic method approach concerning generalization and the formulation of a theory is also research. As such the term ‘research’ refers to the systematic method consisting of enunciating the problem, formulating a hypothesis, collecting the facts or data, analyzing the facts and reaching certain conclusions either in the form of solutions towards the concerned problem or in certain generalizations for some theoretical formulation. Research can be either applied research or fundamental research. Applied research aims at finding a solution for an immediate problem facing a society or an industrial/business organization whereas fundamental research is concerned with generalization and with the formulation of a theory.
The problem considered by me in the present study is “Determining the customer satisfaction regarding pizza of pizza hut. in Islamabad city.”
The research implies the way the companies are being affected in terms of customer services and satisfaction and profitability due to the lack of certain innovative measures. I have used the following research design for carrying out the research for this particular study.
SAMPLING
As for purpose of research I have selected the random sampling. All items in any field of inquiry constitute a ‘Universe’ or ‘Population’ A complete enumeration of all items in the ‘population’ is known as a Census inquiry. When field studies are undertaken the respondents selected should be such that is a miniature cross-section of the total population representing the total population. The survey. Thus, the method consisting of the selecting for study a position of the ‘Universe’ with view to drawing conclusion about the ‘Universe’ or ‘population’ is known as sampling. It may be defined as selection of some part of an aggregate or totality based on which judgments or inference about the aggregate or totality made. SAMPLE DESIGN
A sample design is a definite plan for obtaining a sample from a given population. It refers to the technique the researcher would adopt in selecting items for the sample. Sample design is determined before data are collected. Researcher must select a sample design, which should be reliable and appropriate for his
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research study. In the present research the researcher has paid attention to the following points.
A. Sampling Frame
The elementary units or group clusters of such unit may be the basis of sampling process in which the case they are called as sampling units. A list containing all such sampling units is known as sampling frame. Thus sampling frame consists of a list of item from which the sample is to be drawn. The sample frame fro this research constitutes all the customers and non customers who may well be eating the pizza of pizza hut.
B. Sampling unit A decision has to be taken concerning a sampling unit before selecting sample sampling unit may be a geographical one, a construction unit, a social unit or it may be an individual. The sample unit for this research constitutes the organization that is the sole dealer and distributor of pizza of pizza hut.
C. Sample Size The size of sample refers to the number of items to be selected from the universe to constitute a sample. This is a major problem to be faced by a researcher. The size of the sample should neither be excessively large, nor too small. It should be optimum. Now an optimum sample is one, which fulfills the requirement of efficiency, representative ness, reliability and flexibility. The sample for the purpose of the present training project constitutes 250 customers and non customers i.e., respondents. I have derived the sample size of 250 respondents by adopting the given below formula and calculation:-
pq (Z/E)2
= 0.80 X 0.20 (1.96/0.05)2
= 0.16 (39.2)2
= 245.84 = 250 (randomly)
D. Sampling Error Sampling error are the random variations in the sample estimates around the true population parameters. They occur randomly and are equally likely to be in either direction, their nature happens to be of compensatory type and expected value of such errors happens to be equal to zero. Other characteristic is that the sampling error tends to decrease with the increase in the size of the sample.
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RESEARCH TOOLS
The task data collection begins after the research problem has been defined. There are basically two types of data:
Primary data
Secondary data
PRIMARY DATA Primary data are those, which collected a fresh and for the first time, and thus they are original data. The various methods of collecting of primary data are:-
Observation Method Observation becomes a scientific tool and the method of data collection for the researcher, when it serves a formulated research purpose, is systematically planned and recorded and is subjected to checks and controls on validity and reliability. Under the observation method, the information is sort by way of investigator’s own direct observation without asking the respondent.
Interview Method
The interview method of collecting data involves presentation of oral verbal stimuli and reply in terms of oral verbal responses. This method can be used trough personal interviews and if possible through telephonic interviews. Telephonic interviews are used to collect the information from the customers.
Questionnaire Method
This method of data collection is popular and particular in case of inquiries. Private individuals, research workers, private and public organization and government, are adopting it. In their method the questionnaire is sent to all the persons concerned with a request to answer the questionnaire and return it. A questionnaire consists of number of questions typed or printed in a definite order. The researcher draws the inferences for the research the questionnaire. A
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schedule questionnaire with multiple choice questions was designed which were both open ended as well as closed ended questions. SECONDARY DATA
Secondary data are those, which have been already collected by someone else and which have been passed through statistical process. For the purpose of conducting this research, I have used various secondary data such as: -
Books Articles, Newspaper Websites
DATA COLLECTION THROUGH EXPERIMENTATION AND SIMULATION
GENDER WISE ANALYSIS
Gender Respondent %
Male 188 62.67%
Female 112 37.33%
Total 300 100%
0
100
200
300
400
Respondent %
male female
resp
on
den
t
Male
Female
Total
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COMMENT: - the above chart shows that 62.67% are male respondent & 37.33%are female.
Comment;- generally people are choosing pizza according to their income level. People with income of above 15000 are choosing double cheese pizza most.
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INCOME VS BUYING AFFECTED FACTOR
Income Quality Price Customer Delivery Packing Above-15001
Comments:- the above chart shows that quality is the highly affected their buying.
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HYPOTHESIS TESTING
I have taken 20 sample before survey for pilot study in which 14 respondents are satisfied about pizza of pizza hut and 6 respondents does not satisfied about pizza of pizza hut.
P = 0.75Q = 0.25
I have taken 300 sample size for survey, I have found 289 respondents are satisfied. And 11 respondents do not satisfy.
n = 300p = x/n
= 289/300= 0.96
Z cal. = | p-P | √PQ/n = |0.96 – 0.75 | √0.75 x 0.25/300
= 0.21 √0.025
Z cal.= 8.4 Z cal.> 1.96 so, we reject null hypothesis
FINDING
People from GHOD DOD road are often visit pizza hut in month.
General visit pizza hut less than two times in month.
Male consumers are visit pizza hut more than female consumers.
A people with high income (more than 15000) visited pizza hut more.
Generally people with businessman+ and professional visit more than
employee.
People refer quality more than delivery, service & packaging.
Students are more prefer pizza from pizza hut.
In surat city very few time people test better pizza than pizza hut.
People are satisfied about the services of pizza hut.
People prefer pizza from pizza hut more than other restaurants.
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In Surat city smoking Joe’s is the biggest competitor of pizza hut.
In international market domino’s is the biggest competitor.
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Recommendation
Recommendation according to consumer of pizza hut.
In Islamabad city many of consumers prefer non.veg pizza also and some of them suggest that pizzahut should start non.veg in separate restaurants.
Students are likely to visit pizzahut in morning time also they suggest that you should open restaurant in morning time like 9 a.m. to regular time.
Regular consumer of pizzahut always wait for new product of pizza hut, so some of them suggest that you should launch new product time to time.
Your biggest customers are age between 17 to 30, so always care about it.
Some regular customers of pizzahut suggest that you should give some complementary to your customers at festival
Some well wisher of pizzahut suggest that you should arrange party for your regular consumer and also participating in social work also so you can build up new image in the city.
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SWOT Analysis
Strengths
Largest producing company of consumer products in
Pakistan
Enjoying economies of scale
Good will in the market
Strong financial position
Some of its brands have become the generic name for
those products as Dalda in ghee & surf in detergents
Market leader in tea industry with Lipton & Brook Bond
Capture 70 percent market share of ice cream industry
Highly sales brands in skin care i.e. Ponds and Fair &
Lovely
Have Strong distribution channel in Pakistan
Wide product line in home wash
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Weakness
High rates of skin care products
Ratio of success of new product is low
Huge inventory stocks of raw material and finished goods
Few new products are introduce in the market
Opportunities
Capturing food industry by acquiring Raffan Best Foods
Wide scope of confectionery business for Unilever
Unilever is looking to acquire Tapal tea
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Threats
Facing tough competition in Ghee and Cooking Oil
Facing tough competition in ice cream.
Unilever is facing a very tough competition in personal care
and detergents by P&G
There is very tough competition in detergents and soap
markets
High inflation rate is increasing the cost of imported raw