Marketing Project 3 Sem Word File

A

PROJECT

ON

“Consumer Shopping Behavior in BIG BAZZAR”

Submitted by

Akshay Goyal

Piyush Raj

Arjit Maheswari

Krishan changulani

In partial fulfillment for the award of the degree

Of

BACHELOR OF COMMERCE (HONOURS)

ITM UNIVERSITY, GWALIOR

OCTOBER 2012

Sr. No Title Page No.

1 Introduction

-> company profile

-> theoretical background

2 Research Methodology

3 Data analysis and Interpretation

4 Conclusion

5 Bibliography

INTRODUCTION

Project Title

“Consumer buying behavior while Shopping”

The study of any subject is made by examining it in an organized fashion. There are three classes of variables involved in understanding consumer behavior; STIMULUS, RESPONSE and INTERVENING variables. Stimulus variables, such as advertisements, products exist in both the individuals’ external environment.

These generate a sensory input to consumers. Response variables are the resulting mental / or physical reactions of individuals who are influenced by stimulus variables. For e.g.: - purchasing a product or forming attitudes about it could be viewed as response variables. Many of the variables affecting consumers (such as personality, learning, and perceptions are external situations, motives, and so forth) cannot be directly observed.

The project “Consumer buying behavior while shopping”. The project was about studying the consumer buying behavior.

A questionnaire was prepared by us in order to conduct market survey. The questionnaire was based on different parameters to judge and understand the consumer behaviors and determine the best possible strategies which could be used to attract customers.

The research carried out in this project was descriptive in nature. The study was aimed at knowing the various buying habits of a consumer.

This project helped in understanding what exactly a customer looks in an shopping mall before entering it. It gave an idea about the

essential factors that are required now a day for a shopping mall or a big shopping centers like big bazaar to attract customers in this competitive world.

We were also given a task to understand the customer buying habits, what a consumer wants while entering in a mall what all a consumer look for and what are their expectations, how can a mall owner satisfy the needs and wants of a consumer so that the consumer may come back and the retailer can retain its consumer.

The trend today has been to combine shopping with various offering. For e.g. apart from shopping there are food courts, cinema theaters and even in some an amusement centre for children.

Shopping has made people spend not just on their requirements of goods to be bought but to look on the totally of experience have a quick bite at McDonalds in the mall or let the kids play fun game while one is busy shopping or even taking the family out for movie and having a dinner all under one roof. The benefits of this totally offering are that many vendors get to have peoples patronize their offerings, while the

Shopping experience i.e. being enhanced, more business got by the stores at the venue. Shopping is no longer a onetime agenda for people. Various options are opening up.

Company profile

Big Bazaar

Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai (Bombay), the company operates over 7 millions square feet of retail space, has over 1000 stores across 53 cities in India and employs over 25,000 people.

The company’s leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian Hypermarket chain, food Bazaar, a supermarket chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, all, Top 10, bazaar and Star and Sitara. The company also operates an online portal, futurebazaar.com.

Big Bazaar is not just another hypermarket. It caters to every need of your family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers.

At Big Bazaar, you will definitely get the best products at the best prices - that’s what they guarantee. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including

Home furnishings, utensils, crockery, cutlery, sports goods and much more at prices that will surprise you. And this is just the beginning. Big Bazaar plans to add much more to complete your shopping experience.

Future group

Future group is one of the country’s leading business groups present in retail, asset management, consumer finance, insurance, retail media, retail spaces and logistics. The group’s flagship company, pantaloon Retail (India) Limited operates over 7 million square feet of retail space, has over 1000 stores of its leading retail formats include, Pantaloon, Big Bazaar, Central, Food Bazaar, Home Town, Ozone, Depot, future Money and online retail format, futurebazaar.com.

Future group includes, Future Capital Holding, Future Generally India Indus league clothing and Galaxy Entertainment that manages sports Bar, Brew Bar and Bowling Co. Future Capital Holding, the group ‘s financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels.

The group’s joint venture partners include Italian insurance major, generally. French retailer ETAM group. Us-based stationery products retailers, Staples Inc. and UK-based Lee Cooper and India-based Talwalkar’s, Blue Foods and Liberty Shoes.

Future Group’s vision is to, “deliver Everything, Everywhere, Every time to every Indian consumer in the most profitable manner.” The group considers” as a core value and its corporate credo is- Rewrite rules, Retain values.

Theoretical Background

Retailing – is the most active and attractive sector selling goods or services directly to final of the last decade. While the retailing industry consumers for personal, non business use itself has been present through history in our country, it is in the recent past it has witnessed so mush dynamism

Retailing one of the largest sectors in the global economy is going through a transition phase not only in India but the world over.

The study of any subject is made easier by examining it in an organized fashion. There are three classes of variables involved in understanding consumer behavior, stimulus, response and intervening variables. Stimulus variables, such as advertisement, products and hunger pangs exist in both the individuals’ external and internal environment. These generate sensory inputs to consumers. Responses variables are the resulting mental and/or physical reactions of individual who are influenced by stimulus variables. For ex: - purchasing a product or forming attitudes about it could be viewed as responses variables.

Many of the variables affecting consumer (such as personality, learning, and perceptions of external situations, motives, and so forth) cannot be directly observed therefore, those who want to learn about the variables affecting consumer must often make inference to determine the extent to which a given variable is having an influnce

The study of consumer behavior can also be quite complex, because of the many variables involved and their throw the variables, tendency to interact with and influence each other. Models of consumer behavior have been developed as a means of dealing. With this complexity. Models can help organize out thinking about consumers into a coherent into a coherent whole by identifying relevant variables, describing their basic characteristics, and specifying how the variables relate to each other.

Consumer decisions Process

This process consists of the decision process regarding products and services. The major steps in this process are shown as problem recognition, information search and evaluation, purchasing processes, and post purchase behavior. Problem recognition occurs when the consumer is activated by awareness of sufficient difference her actual affairs and her concept of the ideal situation. This can occurs through activation of a motive such as hunger, by confronting some external stimulus such as an advertisement, or by being effected by additional variables such as social or situational influences.

Internal search – a quick and largely unconscious review of memory for stored information and experiences regarding the problem. The information is in the form of belief and attitudes that have influenced the consumer’s preference towards bands. Often such a review results in recognizing a strong brand preference, and a routine purchase occurs. However if an internal search does not provide sufficient information about products, or how to evaluate them, the consumer

continues with a more involved external search for information. This result exposure to numerous informational inputs called stimuli, which can arise from a variety of sources, including advertisement, printed products reviews, and comments from friends.

Any informational stimuli are subjected to information-processing activities, which the consumer uses to derive meaning from stimuli. The process Involves allocating attention to available stimuli deriving meaning form these stimuli and holding this meaning in what is termed in what is termed short term memory where it can be retained briefly to allow further processing.

RESEARCH METHODOLOGY

Research Methodology ill common parlance refers to a search for knowledge. One can also define also research as a scientific and systematic research for pertinent information a specific topic. Research is an art of systematic investigation. Some people consider research as a movement, a movement to the known to the unknown.

According to Clifford Woody: -

“Research comprises defining and redefining problems, formulating hypothesis or suggested solutions, collecting, organizing and evaluating data, making deductions mil reaching conclusion, and at last carefully testing the conclusion to determine whether they fit the formulating hypothesis.”

Marketing research is defined as a systematic gathering and analysis of the data concern with an objective. The whole activity is divided into various parts and after compilation of that we reach at certain findings, which enable us to marketing decision. It involves the diagnosis of information needed and the selection of the relevant and inter-related variables.

Research Plan: -

Research Approach: SURVEY METHOD

Primary Source

Primary data consists of original information gathered for specific purpose. The primary data is collected through questionnaire. The questionnaire is through common instrument collecting primary collection. I collected the data through questionnaire from different small eating joints.

Research Instrument

The research instruments used for collecting the primary data were the questionnaire.

Questionnaire

The questionnaire was carefully developed tested and debugged before they were administered on a large scale. Each questions contributed to the research objective here questionnaire is structured types means there are concrete, definite and predetermined questions.

The questions are presented are exactly same wording and in the same an order to all respondents. The questionnaire had a mix type of open ended, closed ended and multiple choice questions. The questions were limited in numbers simple direct and unbiased technology was adopted.

Data Source:

Primary:

The data was collected through questionnaire comprising of 10 questions.

The data was collected through:

Data Collection Instrument:

Questionnaire

Sampling Procedure:

1. Sample Unit : Consumer visited in Big Bazaar

2. Sample Size : 30 Respondents

3. Sampling Method : Random Sampling Method

DATA ANALYSIS

Question No. 1

How do you come to know about Big Bazaar?

Mode of advertisement No. of respondents

NO. of Respondents (%)

electronic media 14 47%

words of mouth 7 23%

print media hoarding 9 30 %

47%

23%

30%

Chart Title

electonic media words of mouth print media hoading

Interpretation

Out of 30 respondents:-

47% of our population come to know about Big Bazaar through electronic media

While 30% , come to know about big bazaar through hoardings And only 23% popularity, Big Bazaar gained through words of mouth

REASON: - Now day’s advertisement through t.v, internet, and radio is in fashion that’s why percentage of respondent is high in electronic media compare to others.

Question No. 2

How often do you shop?

once a week 5fortnightly 16once a month 9

17%

53%

30%

once a weekfortnightlyonce a month

Interpretation

Out of 30 respondents:-

17 % visit big bazaar once a week 53% of our population or majority visit Big Bazaar fortnightly And only 30 % visit Big Bazaar once in a month

REASON: - Due to low price rates, attractive offers and availability of products cheer customers to visit Big Bazaar on weekly basis. That’s why number of respondent visit once in a month is less than the number of customers visit Big Bazaar weekly.

Question No. 3

Why do you shop at Big Bazaar?

Basis No. of Respondents (in no.)

No. of Respondents (%)

quality offer 12 40%

price easy 10 33%

availability of product 8 27%

quality offer price easy availability of product0

2

4

6

8

10

12

14

12

10

8

Series1

Interpretation

Most of our population (40%) shop at Big Bazaar due to quality offer by them. While 10% comes due to low rates offer by big Bazaar. This shows that now day’s customers prefer quality goods rather than low rates.

REASON: - modern customers are quality oriented not price oriented. Now they prefer quality over price. They can’t compromise with quality and Big Bazaar knows it very well that’s why they maintain the quality of products.

Question No. 4

During which offer you shop most?

weekend bazaar 12

monthly bachat bazaar 10

five sab sey sastey din 8

weekend bazar monthly bachat bazar five sab sey sastey din0

2

4

6

8

10

12

14

12

10

8

Interpretation

Out of 30 respondent, 40% of our population visit big bazaar most during weekend offers, while only 27% of population shop most during five sab sey sastey din.

REASON: - Now big bazaar is well established among all, and people knows about it very well that’s why there weekend offers are very popular in regular customers .

Question No. 5

What do you mostly shop at the Big Bazaar ?

clothing 21

accessories 13

groceries 8

other 9

clothing accessories groceries other0

5

10

15

20

25

clothing21

accessories13

groceries8

other9

Series1

Interpretation

41% of population shop mostly cloths While 25% of population shop accessories at Big Bazaar On the other hand only 16, and 18 percentage of our population shop

groceries and other items at big Bazaar.

Question No. 6

Are you aware of Big Bazaar own brands ?

Name of Brands No. of Respondents (in no.) No. of Respondents (in %)

food bazaar 22 71%

tasty treat 9 29%

Interpretation

Out of 30 respondents:-

71% of our population knows about food bazaar while Only 29% of respondent knows about tasty treat.

REASON: - food bazaar is well famous then tasty treat in big bazaar that’s why number of respondent in food bazaar is more than tasty treat. People also visit food bazaar than tasty treat.

food bazaar71%

tasty treat 29%

food bazaartasty treat

Question No. 7

Are you satisfied with Big Bazaar own brands?

Response No. of Respondents (in no.) No. of Respondents (in %)

yes 19 63%no 11 37%

yes63%

no37%

yesno

Interpretation

Out of 30 respondents:-

19 (63%) of population says that they are satisfied with the

brands of Big Bazaar.

While only 37% of population are not satisfied with the brands

of Big Bazaar.

REASON: -people are satisfied with the Big Bazaar brands

because they fulfill all basic needs of customers.

Question No. 8

In which area of operation at Big Bazaar improvement is

needed?

cashier speed 9

staff knowledge 11

waiting time management 10

cashier speed staff knowledge waiting time management0

2

4

6

8

10

12

911

10Series1

Interpretation

Out of 30 respondents:-

9 respondent out of 30 says that big bazaar has to improve his

cashier speed

While 11 out of 30 says that staff knowledge is that area in

which big bazaar need improvement

While 10 are agree with the waiting time management issues

Question No. 9

With whom you prefer to visit big bazaar?

friends 12

colleague 9

alone 9

40%

30%

30%

friendscolleaguealone

Interpretation

Out of 30 respondents:-

12 (40%) are prefer to visit big bazaar with there friends

While 30% of population prefer to visit big bazaar with

their colleague

REASON: -Big bazaar is a shopping place with all types of products

that’s why people love to visit it with their friends and colleague

rather than visit alone.

Question No. 10.

Do you stick to a particular brand ?

Response Number of respondent

( in no. )

Number of respondent

( in % )

Yes 6 20%

no 18 60%

may be 6 20%

yes20%

no 60%

may be 20%

yesno may be

Interpretation

Out of 30 respondents:-

60% of population says that they are not brand loyal

While only 20% of respondent says that they are always stick to

a particular brand and a brand loyal person

REASON:- Now days peoples are not stick to a particular brand for

long span because due to high availability of the products in the

market, that’s why big bazaar earn more revenue because its offer all

brands of same product in a same place.

CONCLUSION

1. Almost every person contacted or interviewed said that he/she came to know about Big Bazaar through electronic media.

2. Advertising plays a very crucial part in the consumer decision making process.

3. From analysis we found out that most of the people were affected and attracted with offers and schemes.

4. It has been found out that most of the people visit big bazaar once in two week which shows its popularity among the people.

5. Consumers choose Big Bazaar to stop because they all want variety and brands and shopping at Big Bazaar according to the consumers is economic as compared to shopping at other places.

6. Most of the people who were interviewed by me responded that they are not brand loyal and switch products time to time when new product enter in market.

7. Most of the respondents take on the spot decision of buying different products because of the various attractive product displays and pretty combination which the store tries on the mannequins is mostly dependent by the customers, show that most of the consumers are attracted towards different fancy displays in which Big Bazaar is number one with its different internal environment.

8. For most of the respondents quality plays a very important role because most of the respondents said that they want quality products’ and that’s also one reason for most of the respondents who comes to big bazaar

9. We can also say that location, variety convenience and economical products are not the only things which attract the customer but there are some other factors which play a major role in attracting the customers as mentioned.

Bibliography

Books and magazines:

Consumer Behavior- Fourth edition by David L. London & Albert J. Delia Bitta.

Research methodology (Methods & Technology)

Revised Second edition by C.R.Kothari

Through net surfing:

www.google.com www.wikipedia.com www.answers.com