Mba project big bazaar consumer behaviour

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CONTENTS

CHAPTER NAME OF THE TOPIC PAGE NO

Chp-1 INTORDUCTION 8-9

Chp-2 INDUSTRY PROFILE 10-19

Chp-3 LITERATURE REVIEW 20-25

Chp-4 COMPANY PROFILE 26-29

Chp-5 METHODOLOGY 30-33

Chp-6 ANALYSIS & INTERPRETATION

34-42

Chp-7 FINDINGRECOMMENDATIONCONCLUSION

43-49

ANNEXURE APPENDIXBIBLIOGRAPHY

50-54

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INTRODUCTION

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INTRODUCTION

Marketing is the art of creating, satisfying customers by meeting the needs of customers and by creating value satisfaction for them. As Peter Drucker says “the essence of marketing is that the entire business has to be seen from the point given of the customer”. However, customers face a vast array of product and brand choices prices, supplies and to understand the needs and preferences of the customers it becomes imperative for us to carry out research together information.

We believe that customers estimate which offer will deliver the most value to them and which will deliver and maximize value, within the bounds of research costs and limited knowledge, mobility, and income they form an expectation of value and act on it. Whether or not the offer lives up to the value expectation affects both purchase and repurchase probability. The purpose of any Marketing research is to provide information at a specific time on customer, trade, competition and the future brands, so as to enable marketers to formulate successful strategies in their quest for customers mind share and market share.

The research helps the marketers to find out the attributes and variable that influence the customers behavior towards a given product offering and it shapes the attitudes of the customers favorably towards a specific product, thus by analyzing these undertones the researcher can find out the levels of customer satisfaction, and the results of the marketing research can help the marketers to analyze the weak spots in their marketing strategies and can reformulate their strategies so that they can satisfy their customers and maximize their brand loyalty and profitability.

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INDUSTRY PROFILE

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Retail Industry in India

The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space. The Indian retail industry is one of the fastest growing in the world. Retail industry in India is expected to grow to US$ 1.3 trillion by 2020, registering a Compound Annual Growth Rate (CAGR) of 16.7 per cent over 2015-20. India is the fifth largest preferred retail destination globally. The country is among the highest in the world in terms of per capita retail store availability. India’s retail sector is experiencing exponential growth, with retail development taking place not just in major cities and metros, but also in Tier-II and Tier-III cities. Healthy economic growth, changing demographic profile, increasing disposable incomes, urbanization, changing consumer tastes and preferences are the other factors driving growth in the organized retail market in India.  India’s population is taking to online retail in a big way. The online retail market is expected to grow from US$ 6 billion to US$ 70 billion during FY15-FY20. Increasing participation from foreign and private players has given a boost to Indian retail industry. India’s price competitiveness attracts large retail players to use it as a sourcing base. Global retailers such as Walmart, GAP, Tesco and JC Penney are increasing their sourcing from India and are moving from third-party buying offices to establishing their own wholly-owned/wholly-managed sourcing and buying offices. The Government of India has introduced reforms to attract Foreign Direct Investment (FDI) in retail industry. The government has approved 51 per cent FDI in multi-brand retail and increased FDI limit to 100 per cent (from 51 per cent) in single brand retail. India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015#, driven by income growth, urbanization and attitudinal shifts. While the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 per cent per annum and traditional trade at 10 percent. India’s Business to Business (B2B) e-commerce market is expected to reach US$ 700 billion by 2020 whereas the Business to Consumer (B2C) e-commerce market is expected to reach US$ 102 billion by 2020.## Online retail is expected to be at par with the physical stores in the next five years. India is expected to become the world’s fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users. Various agencies have high expectations about growth of Indian e-commerce markets. Indian e-commerce sales are expected to reach US$ 120 billion! by 2020 from US$ 30 billion in FY2016.Further, India's e-commerce market is expected to reach US$ 220 billion in terms of gross merchandise value (GMV) and 530 million shoppers by 2025, led by faster speeds on reliable telecom networks, faster adoption of online services and better variety as well as convenience@. India’s direct selling industry is expected to reach a size of Rs 23,654 crores (US$ 3.51 billion) by FY2019-20, as per a joint report by India Direct Selling Association (IDSA) and PHD.

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EVOLUTION OF THE INDIAN RETAIL MARKET

Retailing goes back to centuries; it started as a very primitive business but today has grown tremendously. First people were doing businesses with their neighbors. Goods were exchanged between them. Gradually people began to collect themselves to a given neighborhood, which provides a geographical place to do the exchange. This not only increases the exposure of a given good but also helps a lot towards the development of a more formalized system. Gradually, a few more start to get together to a place that in turn creates a need for a common place. Later this common place was called a fair. With the passing of time the number of people doing businesses in a given fair increased, issues like security, transportation becomes a matter of concern. This semi-formalized system then gave birth to small-scale groceries, where people start to provide more combinations in their own neighborhoods. Then came the issue of choice in given grocery, the choices the customer had was limited, this was the beginning of the concept of “everything under one roof”. As time passes, joint family changes into nuclear family. There too both members started earning which resulted into a new way of lifestyle. From then instead of mom-and-pop type of stores organized retail stores came into existence.

Fig 2.1

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Growth in the Indian Retail sector

• The retail sector in India is emerging as one of the largest sectors in the economy• By 2015, the total market size is estimated to be around US$ 600 billion, thereby registering a CAGR of 7.45 per cent since 2000.• Retail industry is expected to grow to US$ 1.3 trillion by 2020, registering a CAGR of 9.7 percent between (2000 – 2020).

All Retail Sector In India

Fig 2.2

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Retail Penetration in India As on 2012 onward

Fig 2.3

India was ranked fifth in 2012 on the Global Retail Development Index, by AT Kearney; highlight it as one of the key foreign investment destination worldwide. However I 203, the rank fell to fourteen possibly due to slow spending and general economic slowdown, along with policy concern over approval of multi-brand retail across several states in India. This trend is expected to reverse soon supported by factors such as improving demographics, rising disposable income levels, expansion of organized retail sector into tier 2 and tier 3 cities, changing consumer habits, etc. This could provide a wide window of opportunities for national and international players in the next five to ten years.

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Fig 2.4

Indian Retail: Analyzing the SWOT Matrix

Strength:- The inherent strength of the Indian economy provides a boost to retail. Following are some of the factors that strengthen the economy:

Purchasing Power:- An increasing number of Indian consumers are ascending the economic pyramid to form an emerging middle class. Though they still earn modest income between 1.70 and 5 USD per capita, per day, in the coming decade, these consumers will collectively have around 6 trillion USD worth of purchasing power annually. In 2010, there were about 470 million people in the emerging middle class. As per PwC estimate, this segment will grow to 570 million by 2021. This segment, existing between the lowest-income group and the middle class, will constitute about 42% of India’s total population.

Population Demographics:- India’s working population is expected to be 117 million over the

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next decade as compared to China’s four million. In the following decade, from 2020, the former will add 98 million to its workforce, while China will contract 51 million. This is a big positive for India.

Low Retail Penetration:- The penetration of organized retail in India is still very low at 6 to 8%, especially when compared to developed nations such as the US and the UK which have retail penetration of 85% and 80%, respectively. With new policy reforms, increasing purchasing power, and changing spending pattern, we are bound to see a difference in the coming years. As per the Images Retail research, FY15 will witness a jump in the share of organized retail.

Aspiring Middle Class:- With a population of 100 million, the tier II and III cities in India are larger than countries such as Germany and the UK. Besides, the untapped rural population holds immense potential for retailers. It is estimated that by 2021, approximately 67% of Indians will still live in rural areas.

Weakness:- Despite the positives, there are certain facets of the sector that may dampen growth. Following are the key areas to consider:

Political Uncertainty and Regulatory Requirements:- The announcement of FDI in retail has stirred the political pot. The government faces stiff opposition with its allies threatening to withdraw support. In case, this policy is finally implemented, there is another important aspect for the companies to overcome. The way the policy is currently drafted, a retailer can set up stores only in those states which have agreed or will agree in the future to allow FDI in multi-brand retail.

Poor Infrastructure and Supply Chain Management:- Apart from the political and regulatory scenario, infrastructure will play an important role in deciding how this sector will evolve and retailers will manage the supply chain. While the FDI regulation states that the retailer will have to invest a substantial amount in building the infrastructure, this will take time. Meanwhile, due to poor infrastructure, multiplicity of taxes, high cost of fuel, dependence largely on the road transportation, etc. logistics still remains a high percentage of the cost of a product, in certain cases going beyond 15 to 20%. 

Opportunity:- Retailers in India have been experimenting to arrive at a successful formula, but there is no ‘one size fits all’ strategy. The market is still undergoing a lot of

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changes, both from the regulatory as well as demand side. Following are some of the winning factors that players could focus on:

Innovation:- During PwC’s 15th Annual Global CEO Survey, one of the questions posed to the CEOs in the R&C sector was as follows: To what extent do you anticipate changes at your company in any of the following areas over the next 12 months?  Nearly 73% indicated that the following two areas will change in the near-term: 1) R&D and innovation capacity. 2) Technology investments. Digital Strategy:- Going digital is not only about e-commerce but the way interaction will change in a few major areas including changing business models (e-commerce, e-payments and mobile transactions), employee and customer engagement and investment in technology. Customers are demanding an improved experience in terms of how to search, browse products and conduct transactions online. R&C organizations need to engage with customers differently, in terms of using a range of channels. However, the overall customer experience should be the same-smooth and seamless. Social media is also becoming a popular tool for consumers to educate themselves about offerings, seek advice about products and compare brands. For retail companies it is important to define how social media can support sales activities throughout the various channels, especially e-commerce. Social media analytics is the focus area for retailers. Customer-centric Approach:- The retailer is no longer looking at product innovation at the merchandising level only but the entire store today is a product that needs to appeal to the customer. The following are factors that will make a difference: 1) Experience design. 2) Digital change. 3) Analytical insights.  Changing the Regulatory Scenario:- Recently, the Indian government made the following two significant announcements that will go a long way in developing the Indian retail sector: • Permitting foreign investment in multi-brand retail trading. • Simplifying the rules for single brand retail trading to make it more business-friendly.

Threat:- The retail sector is marred with many issues. The two most important threats are as follows:

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Availability of land and real estate:- Retail space and rentals are key considerations in multi-brand retail and getting a feasible rate in the desired location is important. There are retailers who have exited cities because of the high rentals that put more pressure on profitability.

Human Capital:- With attrition still very high in the industry, human capital management continues to remain one of the top three agenda points for the retailer. The attrition in the industry can be anywhere between 20 and 25% in non-food and grocery business to as high as 60% in the food and grocery segment. Thus, the Indian retail sector has its own set of strengths and opportunities. However, the challenge lies in overcoming the weaknesses and providing an environment that is conducive to the business, not only for the national players but also the foreign retailers. (Source: An article by PricewaterhouseCoopers (PwC) in India Retail Report 2013)

Fig 2.5

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LITERATURE OF REVIEW

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Theory of Marketing

1. WHAT IS THE MEANING OF MARKETING?

Marketing is "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."Marketing is a management process or social process or an effective communication throughwhich goods and services move from concept to the customer and companies create value for customers and build strong customer relationships in order to capture value from customers in return, and also identifying, anticipating and satisfying customer requirements profitably. It includes the coordination of four elements called the 4 P's of marketing:

1. identification, selection and development of a product,2. determination of its price,3. selection of a distribution channel to reach the customer's place, and4. development and implementation of a promotional strategy.

For business to consumer marketing, it is "the process by which companies create value for customers and build strong customer relationships, in order to capture value from customers in return". For business to business marketing it is creating value, solutions, and relationships either short term or long term with a company or brand. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. Marketing is used to identify the customer, satisfy the customer, and keep the customer. With the customer as the focus of its activities, marketing management is one of the major components of business management. Marketing evolved to meet the stasis in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries. The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable. As a philosophy, marketing is based on thinking about the business in terms of customer needs and

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their satisfaction. Marketing differs from selling because (in the words of Harvard Business School's emeritus professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariably does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse, and satisfy customer needs." There is even more confusion about what constitutes "marketing." Marketing entails several functions that include:

1. Developing the products or services that customers want.2. Pricing the products or services correctly.3. Making the products or services readily available to the customers.4. Promoting the product or service, which if done correctly, not only convinces customers

that the product or service is preferable to its competition, but that it is clearly the only choice.

This is the field of marketing "communications" and of all the marketing components, it is the one most likely to be outsourced and the one most likely to be neglected if a company is making a profit.2. RETAIL MARKETING

Through the years retailing has evolved, competition has gotten stiff and therefore marketing has become more integral in the direct selling of wares. From specialty mom-and-pop shop to mass-merchants, the methods by which stores are getting their products into the hands of customers are evolving. Because customers have more choices, stores have to reach them with advertising, entice them with promotions, and secure them with branding—hence the ever-growing need for marketing in retail outlets.

AdvertisingThere are two main functions of advertisements: to sell more products, and to inform the

customer. Through newspaper, TV, radio and internet advertisements, retailers can inform their customers of the sales, promotions and in-store events. Moreover, since the media is flooded with advertisements, the ability to create a more eye-catching or attention-grabbing ad directly influences sales. Stores that advertise--as opposed to those that don’t--are kept at the top of their potential shoppers’ mind, which can produce sales in the short and long term.

In-Store Promotions Stores use promotions to prompt impulse buying behavior. A shopper may not intend to buy a product, but if there is a promotion, there is an incentive for immediate action. For example, a shopper may not need another dress shirt, but might still buy one if it is on sale. Additionally, promotions can prompt consumers to recall a product and thus instigate a purchase. Retailers also use promotional periods-- corresponding with national holidays or well-know sales times--to sell off the previous season’s merchandise. Promotional periods spike sales, and are a way retailers can reduce the loss of unsold inventory.

In-Store Atmosphere and Customer Relations Store design and consumer relationship marketing (CRM) directly affected the way customers purchase and retain goods. Things like the atmosphere, music, store layout, sales help, and post-purchase support can influence things like shopping time (the longer they shop, the

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more likely they are to buy), and how gratified they feel with their purchase. The more content a buyer is with their shopping experience, the more likely they are to buy merchandise, and the less likely they are to return it.

Branding Retail Outlets It is necessary for retailers to develop their brand in order to stand out amongst the many

other stores. With local boutiques, specialty stores, department stores, mass-merchants and internet stores, customers have more choices when it comes to buying. There is competition within each category, and competition between categories. For example, a local boutique selling dress shirts is competing with other local boutiques, and also with the mass-merchant who might be selling dress shirts at a cheaper price. It is therefore necessary for the boutique to create a brand position that a customer can identify with, to keep them loyal.

Private Labeling Solidifying a retail brand’s private label is the apex of the retail marketing evolution--and the most recent trend in high-end retailing. This is not a new concept for low- to mid-priced retail outlets, as everything from food to raincoats have been put under their brand's name. But what's new is stores that build their brand to the point where they can sell merchandise at a premium price. Doing so is more cost effective: they can reduce the costs associated with buying other brand names, source cheaper goods from private manufacturers and reap higher profits. As an added bonus, stores benefit from consumer loyalty to their stores and their products.

Salespeople Personal selling is a more direct approach to marketing. Retailers that sell higher-end products or promote themselves as tops in service often employ more active sales personal. Companies that sell higher-end products often have to rely on salespeople to help customers understand the benefits of paying more for better value. Salespeople can also make add-on or cross-sales for more revenue.

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3. What is Marketing Mix?The marketing mix definition is simple. It is about putting the right product or a

combination thereof in the place, at the right time, and at the right price. The difficult part is doing this well, as you need to know every aspect of your business plan. As we noted before, the marketing mix is predominately associated with the 4P’s of marketing, the 7P’s of service marketing, and the 4 Cs theories developed in the 1990s.

Marketing Mix 4P’s

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Fig 3.1

A marketing expert named E. Jerome McCarthy created the Marketing 4Ps in the 1960s. This classification has been used throughout the world. Business schools teach this concept in basic marketing classes.

Marketing Mix 7P’s

The 7Ps model is a marketing model that modifies the 4Ps model. The 7Ps is generally used in the service industries.

Here are the expansions from the 4Ps to the 7Ps marketing model:

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Fig 3.2

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COMPANY PROFILE

Future Group

Headquarters: MumbaiCEO: Kishore Biyani (1987–present)

Founder: Kishore Biyani

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Founded: 1987, IndiaSubsidiaries: Big Bazaar, Pantaloons Fashion & Retail, HomeTown,

Central…

Big bazaar is a chain of hypermarket in India. As of June 2, 2012 there are 214 stores across 90 cities and towns in India covering around (16 million sq. ft) of retail space. Big Bazaar is designed as an agglomeration of bazaars or Indian markets with clusters offering a wide range of merchandise including fashion and apparels, food products, general merchandise, furniture, electronics, books, fast food and leisure and entertainment sections. Big Bazaar is part of Future Group, which also owns the Central Hypermarket, Brand Factory, Pantaloons, eZONE, HomeTown, futurebazaar.com, KB's Fair Price to name a few and is owned through a wholly owned subsidiary of Pantaloon Retail India Limited, that is listed on Indian stock exchanges.HistoryBig Bazaar was launched in September, 2001 with the opening of its first four stores in Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years, there are now 161 Big Bazaar stores in 90 cities and towns across India. Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of Pantaloon Retail India. Though Big Bazaar was launched purely as a fashion format including apparel, cosmetics, accessory and general merchandise, over the years Big Bazaar has included a wide range of products and service offerings under their retail chain. The current formats include Big Bazaar, Food Bazaar, Electronic Bazaar and HomeTown. The inspiration behind this entire retail format was from Saravana Stores, a local store in T. Nagar, Chennai. The stores are customized to provide the feel of mandis and meals while offering the modern retailFeatures like Quality, Choice and Convenience. As the modern Indian family's favorite retail store, Big Bazaar is popularly known as the "Indian Wal-Mart". On successful completion of ten years in Indian retail industry, in 2011, Big Bazaar has come up a new logo with a new tag line: ‘Naye India Ka Bazaar’, replacing the earlier one: 'Isse Sasta Aur Accha Kahin Nahin'.

Marketing Mix Concept of Future Group

1. Product: Big Bazaar offers a wide range of products which range from apparels, food, farm products, furniture, child care, toys, etc of various brands like Levis, Allen Solly, Pepsi,

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Coca- Cola, HUL, ITC, P&G, LG, Samsung, Nokia, HP etc. Big Bazaar also promotes a number of in house brands like:

a) DJ & Cb) Tasty Treatc) Clean Mated) Senseie) Care Matef) Koryo and 44 other brands.

2. Pricing: The pricing objective at Big Bazaar is to get “Maximum Market Share”. Pricing at Big Bazaar is based on the following techniques:

a) Value Pricing (EDLP – Every Day Low pricing): Big Bazaar promises consumers the lowest available price without coupon clipping, waiting for discount promotions, or comparison shopping.

b) Promotional Pricing: Big Bazaar offers financing at low interest rate. The concept of psychological discounting (Rs. 99, Rs. 49, etc.) is also used to attract customers. Big Bazaar also caters on Special Event Pricing (Close to Diwali, Gudi Padva, and Durga Pooja).

c) Differentiated Pricing: Differentiated pricing i.e. difference in rate based on peak and non-peak hours or days of shopping is also a pricing technique used in Indian retail, which is aggressively used by Big Bazaar. E.g. Wednesday Bazaar.

d) Bundling: It refers to selling combo-packs and offering discount to customers. The combo-packs add value to customer and lead to increased sales. Big Bazaar lays a lot of importance on bundling. e.g. 3 Good Day family packs at Rs 60(Price of 1 pack = Rs 22)5kg oil + 5kg rice + 5kg sugar for Rs 599.

3. Place:

The Big Bazaar stores are operational across three formats — hypermarkets spread over 40,000-45,000 sq ft, the Express format over 15,000-20,000 sq ft and the Super Centers set up over 1 lakh sq ft. Currently Big Bazaar operates in over 34 cities and towns across India with 116 stores. Apart from the Metros these stores are also doing well in the tier II cities. These stores are normally located in high traffic areas. Big Bazaar aims at starting stores in developing areas to take an early advantage before the real estate value booms. Mr. Biyani is planning to invest around Rs 350 crore over the next one year expansion of Big Bazaar. In order to gain a competitive advantage Big Bazaar has also launched a website www.futurebazaar.com, which helps customers to orders products online which will be delivered to their doorstep. This helps in saving a lot of time of its customers.

4. Promotion:

The various promotion schemes used at Big Bazaar include:I. “Saal ke sabse saste 3 din”

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II. Hafte ka sabse sasta din “Wednesday bazaar”III. Exchange Offers “Junk swap offer”IV. Future card(3% discount)V. Advertisement (print ad, TV ad, radio)

VI. Big Bazaar has come up with 3 catchy lines written on hoardings taking on biggies like Westside, Shoppers stop and Lifestyle. They are:

VII. “Keep West- aSide. Make a smart choice!”VIII. “Shoppers! Stop. Make a smart choice!”

IX. “Change your Lifestyle. Make a smart choice!”

5. People:

I. Well trained staff at stores to help people with their purchasesII. Employ close to 10,000 people and employ around 500 more per month.

III. Well-dressed staff improves the overall appearance of store.IV. Use scenario planning as a tool for quick decision making multiple counters for

payment, staff at store to keep baggage and security guards at every gate, makes for a customer-friendly atmosphere.

6. Process: Big Bazaar places a lot of importance on the process right from the purchase to the delivery of goods. When customers enter the stores they can add the products they which to purchase in their trolley from the racks. There are multiple counters where bill can be generated for purchases made. Big Bazaar also provides delivery of products over purchases of Rs. 1000.

7. Physical Evidence: Products in Big Bazaar are properly stacked in appropriate racks. There are different departments in the store which display similar kind of products. Throughout the store there are boards/written displays put up which help in identifying the location of a product. Moreover boards are put up above the products which give information about the products, its price and offers. Big Bazaar stores are normally ‘U shaped’ and well planned & designed.

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Methodology

Research Methodology

Research in common pursuance refers to a search for knowledge in a scientific and systematic way for pursuant information on a specified topic. Once the objective is identified that next step is to collect the data which is relevance to the problem identified and analyze the collected data in order to find out the hidden reasons for the problem. There are two types of data namely.

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1. Primary Data

2. Secondary Data

1. PRIMARY DATA

Primary data is to be collected by the concerned project researcher with relevance to his problem. So the primary data is original in nature and is collected first hand.

Collection of primary data There are several methods of collecting primary data particularly in surveys and descriptive researches. Important ones are as follows:

A. Observation Method

B. Interview Method

C. Questionnaire

D. Schedules and

E. Other methods which include

Warranty needs

Distributor audits

Pantry audits

Consumer panels

Using mechanical devices

Through projective techniques

In depth interviews and

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1) OBSERVATION METHOD:

It is the most commonly used methods especially in studies relating to behavioral sciences. This method implies the collection of information by way of investigators own observation, without interviewing the respondents. The information obtained relates to what is currently happening and is not complicated by either the past behavior or future intentions or attitudes of respondents.

2) 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 through personal interview and, if possible, through telephone interview.

Personal Interview: The method of collecting information through personal interview is usually carried out in a structured way. As such we call this interview as structured interviews. Such interviews involve the use of a set of predetermined questions and of highly standardized techniques of recording. Thus, the interviewer in a structured interview follows a rigid procedure laid down, asking questions in a given format and the order prescribed. As against it, the unstructured interviews are characterized by flexibility of approach to questioning. Unstructured interviews do not follow a system of pre-determined questions and standardized techniques of recording information.

3) QUESTIONNAIRE The researcher and the respondents do come in contact with each other if this method of survey is adopted. Questionnaires are mailed to the respondents with a request to return after completing the same. It is the most extensively used method in various economic and business surveys & research. Questionnaire to be used must be prepared very carefully so that it may prove to be effective in collecting the relevant information.

Structured questionnaire: Using structured questionnaire method, which contains close-ended questions, collected the primary data with respect the problem chosen. The questions have some options, from which the respondents have to choose a choice. As the answers lie within a specified range they are called close-ended questions.

Sampling: A non-probability conclusive sampling method was used in the study for data collection.

Sample size: The sample was taken from the universe on random sampling basis. The sample size designed for this project is 100 keeping in mind the paucity of time and also the customer base of the organization in the research area.

Sources of Data

There are two types of data have been collected: 1. Primary Data & 2. Secondary Data.I. Primary Data was collected from discussion with the Big Bazaar’s Corporate Managers

and others stuff of Kolkata Zonal Office, HomeTown, RajarHaat, and through questionnaire survey.

II. Secondary Data was collected from Internet for company profile

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Research Objectives

1. Primary Objectives:a) To identify performance of store operation.b) To understand the buying behavior at Big Bazaar.c) To analyze how the merchandising mix influences consumer satisfaction level.d) To analyze the affectivity of Big Bazaar’s Marketing Strategies on consumer

psychology. e) To understand loyalty pattern building of Big Bazaar.

2. Secondary Objectives:a) To understand the quality of service maintained in the store.b) To determine the performance of sales persons in the store.c) To find out reasons of dis-satisfaction.d) To find out which means of communication plays a vital role to persuade customer.

Scope and Uses

1. It will give information to prospective customers.2. It will give information about Big Bazaar’s Marketing Strategies, Marketing Mix/Retail Mix.3. It will help to gain independent knowledge about the consumer perception of the outlets identified.4. The study can help the companies to get additional research information.

Sampling for Consumers Satisfaction Analysisa) Sample Size – 100 customers/consumers.b) Sample Unit – Consumers in the age group 18 to 50 years.c) Sampling Technique- Convenience Sampling.d) Sampling Tool/Instrument- Questionnaire and Interview.

LIMITATION OF THE STUDY 1. The sample size taken is only 100 and as such is very small as compared to the universe, this

is due to the constraints of time and effort, and as such may not be enough to generalize to the entire population, however it is presumed that the sample represents the universe.

2. Respondents might have responded with the actual feelings of facts while giving responses to the questionnaire.

3. Time being a limiting factor was not sufficient to gather opinions from majority of the respondents, who form part of the universal sample.

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ANALYSIS&

INTERPRETATION

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Analysis

AGE TOTAL PERCENTAGE

18 – 28 41 21.33 %

28 – 38 67 49.33 %

38 – 48 37 10.67 %

48 – 58 39 12.00 %

58 – 68 16 6.67 %

TOTAL 200 100%

Table 1:- Details of respondents as per age groups

18-28 28-38 38-48 48-58 58-680

10

20

30

40

50

60

70

No.of Respondant based on age

Fig 4.1InterpretationFrom the above figure (Figure 4.1) it could be identified that the main visitors of the store belong to the age group of 28-38 years.

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No. of the respondents based on the sex

Sex Total Percentage

Male 87 43.5 %

Female 113 56.5 %

Total 200 100 %

Table:-2 Details of respondents as per sex group

44%

56%

No.of Respondant as AgeMale Female

Fig 4.2

InterpretationFrom the above fig (4.2) there is more number of female respondents than male visitors, visiting the store.

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Customers & Consumers Feedback Analysis

1. Do You Frequently Shop @ Big-Bazaar? (Options: Yes/No)

Yes 148 74%

No 52 26%

Total 200 100%

Table:-3 Details of frequently shop

Yes

No

0

20

40

60

80

100

120

140

160

Fig 4.3

InterpretationFrom the above fig (4.3) the no of frequent visitors is more. There are 74% visitors who visit big bazaar frequently for shopping.

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2. How Frequently You Shop @ Big-Bazaar? (Options: every week/once in 2 week/once in week /once in a month).

Every week 44 22 %

Once in a 2 week 48 24 %

Once in a 3 week 32 16 %

Once in a month 76 38 %

Total 200 100 %

Table:-4 Details of frequently in months

Fig 4.4InterpretationFrom the above fig (4.4) it could be found that the visitors who visit once in a month are maximum in number than the rest i.e. once in every week, once in 2 week, & once in 3 week. Least number of people, who are visiting the store, belongs to the category of ‘once in three weeks’.

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Shopping FrequencyEvery MonthOnce in 2 weekonce in 3 weekonce in a month

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3. What comes to your mind when you think about Big-Bazaar? (Options: discount/ product variety/ brand/ quality/ offers/ others).

Discount 68 34 %Product variety 48 24 %

Brand 8 4 %Quality 16 8 %Offer 56 28 %Other 4 2 %Total 200 100 %

Table:-5 Details of what respondents think about Big Bazaar

Discount Product variety

Brand Quality Offer Other0

10

20

30

40

50

60

70

Fig 4.5

InterpretationFrom the above fig (4.5) the visitors are more attracted towards discount and offer than other promotional activity and brand assortments.

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4. Do you feel you find different product variety in Big-Bazaar? (Options: yes/no).

Yes 132 66 %

No 86 % 34 %

Total 200 % 100 %

Table:-6 Details of different variety of products

Yes No0

20

40

60

80

100

120

140

Fig 4.6InterpretationFrom the above fig (4.6) the maximum consumers were satisfied with variety of products and the assortments available in the store. Hence it could be interpreted that the marketing team of the retail chain may not rearrange the assortment of available products with further experimentation.

.

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5. What do you purchase @Big Bazaar on regular basis? (Option: groceries / sports andtoys equipment / beverages / cloths / electronic / others).

Groceries 105 52.5%

Sports and Toys Equipment

10 5%

Beverages 27 13.5%

Cloths 31 15.5%

Electronic 22 11%

Others 5 2.5%

Total 200 100%

Table 7 different type of purchases

Groceries Sports & Toys Beverager Cloths Electronic Others0

20

40

60

80

100

120

Type of Purchases

Fig 4.7InterpretationFrom the fig (4.7) shows that the customers are verily purchase the groceries products rather than any other different type in higher quantity. The focuses are to be made largely on the daily consumer able goods.

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6. What is the mode of payment do you use while making payment? (Option: Cash / Debit Card / Credit Card).

Cash 130 65%

Debit Card 50 25%

Credit Card 20 10%

Total 200 100%

Table 8 mode of payment

Cash Debit Card Credit Card0

20

40

60

80

100

120

140

Mode Of Payment

Fig 4.8InterpretationThe fig (4.8) indicates that the customers are most favorable to pay their shopping bill in cash rather than any other mode of payment. This gives the clear idea that the employees in the cash register should be efficient in dealing with cash.

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FINDINGS

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FINDINGS

A. The coverage is limited to only urban areas hence effort should be made to increase the coverage in semi urban and rural areas as it increases the number of subscribers

B. BIG BAZAAR should create awareness amongst its customers regarding various services that are being offered by it by increasing its sales promotion reach.

C. Special promotional schemes to be launched especially to target youth segment who take up the new product by having special packages

D. BIG BAZAAR try to focus on the after sales customer support as this is perceived to be a weak spot, by the consume and should have responsive call centers to address the needs of its customers.

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RECOMMENDATIONS

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Recommendations for Marketing Strategies

1. Retail Stores should focus more on Store Ambience, Store Space & Selling Areas.

2. All the Retails Formats should have an effective Loyalty Program.

3. More focus on Direct Marketing should be given in order to attract more & more customers.

4. Better after sales service & customer service should be provided in order to make customers loyal.

5. To manage proper proportion of Convenience, Staple & Impulse goods.

6. Along with SMS the retails formats should use more innovative ways to alert customers.

7. The Retail store should replenish the goods on time (before the stock ends).

8. A proper proportion of Private & National Brands should be kept in Retail stores.

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CONCLUSIONS

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Conclusion for marketing strategy. 1. To increase the footfall of the store during the weekday.

2. Customers are more attracted towards Discount Schemes & Sales

3. Various Product lines also attract customers to choose their retails stores.

4. Entertainment units & Kids zone should be provided in Retail stores in order to cater more customers.

5. The after sales service of retail stores should be helpful & effective. This after sales service creates loyal customers

6. Major steps should be taken to stop shoplifting in retail stores, as it is one of the problematic

7. Characters for leading & large size retail stores.

The retail stores should provide various kinds of loyalty rights in order to provide more customers.

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Advantages and Disadvantages

Pros:

1. Variety: Big Bazaar offers a wide variety of products of different prices and different qualities satisfying most of its customers.

2. Quality: Providing quality at low prices and having different types of products for different income customers is another advantage.

3. Price: As noted the prices and offers in Big Bazaar have been one of the main attractions and reasons for its popularity. The price ranges and the products offered are very satisfying to the customers.

4. Location: The location of Big Bazaar has been mainly in the heart of the city or in the out skirts giving a chance to both the City and the people living outside the city to shop.

5. Advertisements: Big bazaar has endorsed very popular figure like M S Dhoni and other famous personalities which has attracted a lot of customers. This has resulted in increase of sale and the outdoor advertising techniques have also helped Big Bazaar.

6. Middle class appeal: Considering the fact that there are a lot middle class families in India, Big bazaar has had a huge impact on the middle class section of India, the prices, quality and sales strategy has helped in getting the middle income groups getting attracted towards Big Bazaar.

7. Attractive sales: Big bazaar has been known for its great sale and great offers. Big bazaar has had long lines of people waiting to get into the store for the sale. Therefore, the sales that Big Bazaar has had has increased sales in a huge way due to the sales and offers, thus this has been one of the main advantages of Big Bazaar.

Cons:

1. Store layout: The store layout and the assortment of goods is not the best at Big Bazaar, as the quantity of goods sold is more the arrangement and assortment of goods in the store is the greatest. Hence at times customers find it hard to find what they require, this leads to dissatisfaction of customers.

2. Lower quality of goods: As Big bazaar aims more toward the middle income group, the quality of goods is not of the highest quality, and this is sometimes a disadvantage as some would prefer better quality to the price, making customers to search for different places.

3. Not acclaimed for very good service: Big Bazaar is not known for high class service. The staff recruited is not very well trained and the billing queues take a long time to move, this irritates customers which makes them visit the store more seldom

4. Lower quality of goods: As the store is trying to concentrate on the middle income group the type of products used is not of the most superior quality and most of the times nor branded, this may dissatisfy certain customers

5. Consumer satisfaction: Long queues and lower quality leads to dissatisfaction of customers. Due to factors mentioned above Big Bazaar shoppers are not always satisfied, this is not a positive for the store.

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APPENDIX

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Questionnaire Sample for Consumers Satisfaction Analysis

1. Do You Frequently Shop @ Big-Bazaar? (Options: Yes/No)

2. How Frequently You Shop @ Big-Bazaar? (Options: every week/once in 2 week/once in 3 week/once in a month.)

3. What comes to your mind when you think about Big-Bazaar? (Options: Discount/Product Variety/Brand/Quality/Offers/Others)

4. Do you feel you find different product variety in Big-Bazaar.(Options: Yes/No)

5. Do you find the specific brand that you look in the Big-Bazaar? (Options: Yes/No)

6. In which section you spend more time while shopping? (Options: Food-Bazaar/Apparels/Kitchen- Section/Electronics-Section/Children & Toys Section/Sports Section/Others).

7. Are you satisfied with you product? (Options: Yes/No)

8. Do you think this store has good parking facility? (Options: Yes/No)9. How would you rate the following in our store ambience?a) Music – Good/ok/Badb) Temperature - Good/ok/Badc) Lighting - Good/ok/Badd) Cleanliness- Good/ok/Bad.

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Name: _______________________________ Occupation: __________________

Contact: _____________________

Age: 18 - 24 25 – 35 36 – 45 46 – 55 56 – above

Gender: Male Female

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10. How did you find the following qualities of our store staff?a) Courteousness - Good/ok/Badb) Grooming - Good/ok/Badc) Efficiency & Knowledge - Good/ok/Bad

11. How would you rate the following in our Products?a) Range - Good/ok/Badb) Prices - Good/ok/Badc) Quality - Good/ok/Badd) Availability - Good/ok/Bad.

12. How would you rate the Navigation (Ease of moving around the store) in our store? (Options:Good/ok/Bad)

13. How would you rate the Product Display, Finding any Product & Signage in our store? (Options:Good/ok/Bad)

14. How would you rate the following in our store?a) Cashier interaction - Good/ok/Badb) Cashier Speed - Good/ok/Badc) Check out counter - Good/ok/Badd) Customer Service Desk - Good/ok/Bad.e) Loyalty Program – Good/ok/Bad.f) Sales Persons - Good/ok/Bad.

15. How was your overall experience? (Options: Good/ok/Bad)

Would you visit Big-Bazaar again? (Options: Sure/Maybe/Never)

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Bibliography

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Bibliography

Information has been sourced from namely, books, journals, management website, and market. Accessing database help a me lot some are listed below………….

www.slideshare.net https://in. linkedin .com/ www.managementparadise.com www.roehampton.ac.uk www.AllAnalytics.com www.futuregroup.in http://en.wikipedia.org www.cci.in/pdf/surveys_reports/indias_retail_sector.pdf www.rai.net.in/ www. futuregroup .in www.indiaretailing.com\ www.ibef.org

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