A STUDY ON CUSTOMER PREFERENCE ON WEDNESDAY BAZAAR AT BIG BAZAAR CHENNAI
By
RAJESH.S (211413631190) Of
PANIMALAR ENGINEERING COLLEGE SUMMER TRAINING REPORT Submitted to the
FACULTY OF MANAGEMENT STUDIES In partial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION
AUGUST-2014
PANIMALAR ENGINEERING COLLEGE (A CHRISTIAN MINORITY INSTITUTION) JAISAKTHI EDUCATIONAL TRUST BANGALORE TRUNK ROAD VARADARAJAPURAM, NASARATHPETTAI, POONAMALLEE, CHENNAI - 602 102
DEPARTMENT OF MANAGEMENT STUDIES
CERTIFICATE This is to certify that this project report titled --- A Study on Customer preference on Wednesday Bazaar at big bazaar Chennai---- is the bonafide work of—Mr.Rajesh.S ---who carried out the research under my supervision.
Certified further, that to the best of my
knowledge the work reported herein does not form part of any other project report or dissertation on the basis of which a degree or award was conferred on earlier occasion on this or any other candidate.
Internal Guide
Head of the Department
ACKNOWLEDGEMENT I would like to express my sincere gratitude to Our Chairman Dr. JEPPIAAR M.A., B.L., Ph.D., for providing excellent environment and infrastructure and for his valuable support throughout the course of study. I express my deep sense of gratitude and thanks to Our Secretary and Correspondent Dr.P.CHINNADURAI, M.A., Ph.D., and I express my sincere thanks to Our Directors Mrs. C.VIJAYA
RAJESWARI,
Mr.
C.SAKTHIKUMAR,
M.E.,
M.Phil.,
and
Mrs.
SARANYASREE SAKTHIKUMAR, B.E. I also express my gratitude to my Principal Dr. K.MANI M.E., Ph.D.for providing all the required facilities for the successful completion of this project work. I take this opportunity to express my gratitude to the Dean & Head of the Department of Management studies, Dr. V.MAHALAKSHMI M.L., M.B.A., Ph.D., for providing me an opportunity and Mrs. E.RAMYA JAYALAKSHMI M.B.A., M.Phil., who has given me guidance to do this project work. This project would not have been successful without the help of Mr. P. Dhayaneswaran of senior personnel of company. Last but not least I would like to thank all the employees of Big Bazaar who have directly or indirectly helped me with their moral support for the completion of my project.
RAJESH.S
TABLE OF CONTENTS
S.NO
CONTENTS
Page No.
Abstract
i
List of tables
ii
List of charts
iii
1
Introduction
1
2
Industry Profile
2
3
Company Profile / Product Profile
4
4
Research Methodology
17
5
Results and Discussions
20
6
Summary of Findings and Suggestions
33
7
Conclusion
35
BIBLIOGRAPHY
36
ANNEXURE
37
ABSTRACT Indian retail sector is witnessing one of the most hectic Marketing activities of all times. The companies are fighting to win the hearts of customer who is God said by the business tycoons. There is always a ‘first mover advantage’ in an upcoming sector. In India, that advantage goes to “BIG BAZAAR”. It has brought about many changes in the buying habits of people. It has created formats, which provide all items under one roof at low rates, or so it claims. In this project, we will study its marketing strategies and promotional activities. The research titled ‘A Study on Customer preference on Wednesday Bazaar in Big Bazaar at Chennai’ helps us to understand the effect of customer preference on Wednesday which is responsible for attracting customer towards big bazaar. This study helpful to top level management to improve the present things of BIG BAZAAR. The report deals with the impact of customer preference which attracting customer towards big bazaar on Wednesday sales. The research was carried out as per the steps of Marketing Research. The well supportive objectives were set for the study. To meet the objectives primary research was undertaken. The data collection approach adopted was descriptive research & survey research. The instrument used for the data collection was observation & questionnaire. The target respondents were the visitors of BIG BAZAAR on Wednesday, with the sample size of 50 for the study of sales management of the company. Tables & charts were used to translate responses into meaningful information to get the most out of the collected data. Based on those the inferences have been drawn with peer supportive data.
LIST OF TABLES
S. No
TITLE
Page No
1.
TABLE SHOWING THE GENDER OF RESPONDENTS
20
2.
TABLE SHOWING AGE OF RESPONDENTS
21
3.
TABLE SHOWING NO. OF FAMILY MEMBERS
22
4.
TABLE SHOWING BUY PRODUCT TO BIG BAZAAR
23
5.
TABLE SHOWING PARTICULAR DAY OF VISIT IN BIG BAZAAR
24
6.
TABLE SHOWING WEDNESDAY OFFERS FROM BIG BAZAAR ARE USEFUL
25
7.
TABLE SHOWING THE THINGS NEED TO BE BETTER ON WEDNESDAY BAZAAR
26
8.
TABLE SHOWING THE DISCOUNT RATE ON WEDNESDAY BAZAAR IS USEFUL FOR ALL KIND OF AGE PEOPLE
27
9.
TABLE SHOWING THE MOST DISCOUNT OFFER PRODUCT ON WEDNESDAY BAZAAR
28
10. TABLE SHOWING PREFER OTHER THAN BIG BAZAAR
29
11. TABLE SHOWING CHOOSE BIG BAZAAR FOR SHOPPING
30
12. TABLE SHOWING SECTION LIKE MOST
31
13. TABLE SHOWING RATE OF ACTIVITIES
32
LIST OF CHARTS
S.No
TITLE
Page No
1
CHART SHOWING THE GENDER OF RESPONDENTS
20
2
CHART SHOWING AGE OF RESPONDENTS
21
3
CHART SHOWING NO. OF FAMILY MEMBERS
22
4
CHART SHOWING BUY PRODUCT TO BIG BAZAAR
23
5
CHART SHOWING PARTICULAR DAY OF VISIT IN BIG BAZAAR
24
7
CHART SHOWING WEDNESDAY OFFERS FROM BIG BAZAAR ARE USEFUL CHART SHOWING THE THINGS NEED TO BE BETTER ON WEDNESDAY BAZAAR
8
CHART SHOWING THE DISCOUNT RATE ON WEDNESDAY BAZAAR IS USEFUL FOR ALL KIND OF AGE PEOPLE
27
9
CHART SHOWING THE MOST DISCOUNT OFFER PRODUCT ON WEDNESDAY BAZAAR
28
10
CHART SHOWING PREFER OTHER THAN BIG BAZAAR
29
11
CHART SHOWING CHOOSE BIG BAZAAR FOR SHOPPING
30
12
CHART SHOWING SECTION LIKE MOST
31
13
CHART SHOWING RATE OF ACTIVITIES
32
6
25 26
1. INTRODUCTION
Big Bazaar is a chain of Hypermarkets in India, with more than 290 stores in operation. It is a subsidiary of future group of venture Ltd’s, and follows the business model of US-based WalMart. Facilities offered by Big Bazaar Online shopping: Big Bazaar has an official website, FutureBazaar.com, which is one of the most favorite sites among people of India for online shopping. Future Bazaar is an online venture of Future Group, which sells an assortment of products such as fashion, which includes merchandise for men and women, mobile accessories, mobile handsets and electronics like home theatres, video cameras, digital camera, LCD TVs, kitchen appliances and many more. The research titled ‘A Study on Customer preference on Wednesday Bazaar in Big Bazaar at Chennai’ helps us to understand the effect of customer preference on Wednesday which is responsible for attracting customer towards Big Bazaar. This study helpful to top level management to improve the present things of BIG BAZAAR. Big Bazaar introduced the Wednesday Bazaar concept and promoted it as “Hafte Ka Sabse Sasta Din”. It was mainly to draw customers to the stores on Wednesdays, when least number of customers is observed. Sabse Sasta Din: With a desire to achieve sales of Rs 26 Crore in a one single day, Big Bazaar introduced the concept of "Sabse Sasta Din". The idea was to simply create a day in a year that truly belonged to Big Bazaar. As the customer orientation and innovation of Big Bazaar is the bottom line in each of our retail success stories is "know your customer". Insights into the soul of Indian consumers - how they operate, think, dream and line - helps us innovate and create differentiating functionally. As India's largest retailer, we understand the importance of innovation. We rethink strategies and realign businesses with increasing agility to provide diverse customer groups with refreshingly different retail experiences.
2. INDUSTRY PROFILE Introduction: The retail industry is a sector of the economy that is comprised of individuals and companies engaged in the selling of finished products to end user consumers. Multi-store retail chains in the U.S. are both publicly traded on the stock exchange and privately owned. Types of Businesses in the Retail Industry: Generally, any business that sells finished merchandise to an end user is considered to be part of the retail industry. Sales figures and economic data is sometimes reported separately for restaurants and automotive-related businesses, but by definition they are considered to be members of the retail industry as well. Two Types of Retailers in the Industry: Store Retailers – Those engaged in the sale of products from physical locations which warehouse and display merchandise with the intent of attracting customers to make purchases on site. Non-Store Retailers – Those engaged in the sale of products using marketing methods which do not include a physical location. Examples of non-store retailing include:
Infomercials
Direct Response television advertising
Catalogue Sales
In-Home Demonstrations
Vending Machines
E-commerce
Multi Level Marketing
Retail Industry Trends: Retail technology - particularly the integration of internet shopping with mobile phone devices - will be the hottest trend in the U.S. retail industry in 2011- Frugality and conscious consuming are expected to continue in U.S. retailing in 2011 due to continuing high unemployment and underemployment. Retail Industry Outlook: As was predicted in the Deloitte report, “2008 Industry Outlook: A Look Around the Corner,” U.S. retailing is still struggling due to the housing market crash, the financial meltdown, high gas prices, and chronic unemployment.
3. COMPANY PROFILE Big Bazaar is the largest hypermarket chain in India. 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 stores are aimed at providing a local marketplace feel to the shoppers. They offer a wide variety of household items including retail apparels, food products, general merchandise, furniture, electronics, books, fast food, etc. Several stores also have leisure and entertainment sections. The hypermarket chain crossed the 100 store mark in 2008. Future Group also owns Central Hypermarket, Brand Factory, Pantaloons, eZONE, Hometown, futurebazaar.com, and KB's Fair Price, apart from Big Bazaar. Big Bazaar was introduced by the Future Group in September 2001 with the opening of its first four stores in Kolkata, Indore, Bangalore and Hyderabad within a period of 22 days. Started by Kishore Biyani, Big Bazaar was launched mainly as a fashion format selling apparel, cosmetics, accessories and general merchandise. Over the years, the retail chain has included in its portfolio a wide range of products and services, ranging from grocery to electronics. The current retail formats of the Future Group include Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar. According to Kishore Biyani, the inspiration behind this entire retail format was from Saravana Stores, a local store in T. Nagar, Chennai. Big Bazaar is popularly known as the ‘Indian Wal-mart’ today. In the second year of operations, Big Bazaar tied up with Indian banking giant ICICI Bank and launched the Big Bazaar ICICI Bank Card. In the same year, the first Food Bazaar store was also launched at High Street Phoenix mall in Mumbai, marking the retailer’s entry into dedicated food retail. In 2003, Big Bazaar made its foray into small towns and cities. The first store in this category was launched that year in Nagpur. The franchise also welcomed its 10 millionth customer at its new store in Gurgaon in the same year.
Over the next two years, Big Bazaar consolidated its position in the Indian retail landscape. This phase of growth included the setting up of the Mumbai store in Lower Parel, which registered a record Rs 10 million turnover in a single day on Diwali-eve in 2004. In 2005, the first Big Bazaar Exchange Offer was launched, which has quickly gained popularity among customers. In 2006, further changes in loyalty marketing took place with the launch of the housewife-centric credit card, Shakti. Jewellery store ‘Navaras’ was also launched that year within Big Bazaar stores which became the first store-in-store concept to be launched by the brand. Another dedicated retail format launched in 2006 is Furniture Bazaar. In 2007, Big Bazaar partnered with a shopping portal Futurebazaar.com and expanded its retail footprint to 50 stores. The following year, 2008, witnessed by far the fastest growth in terms of retail expansion for Big Bazaar, with the launch of the 101st store. Joining the league of India’s Super brands and voted among the top ten service brands in the country by the Pitch-IMRB international survey, Big Bazaar became much more than a household name. The year also saw the launch of the Monthly Bachat Bazaar (Monthly Budget Market) campaign, which provided significantly low prices and gave discounts on bulk purchases in the first week of the month. Over the next two years, Big Bazaar carved its own niche in modern retail and became the largest brand in the hypermarket format. Capturing one-third of the food and grocery market in modern retail, celebrity endorsements and tie-ups with other brands allowed it to enhance its retail footprint. In 2009, Big Bazaar won the CNBC Awaaz Consumer Awards for the third consecutive year. It was adjudged the Most Preferred Multi Brand Food & Beverage Chain, Most Preferred Multi Brand Retail Outlet and Most Preferred Multi Brand One Stop Shop. On successful completion of 10 years in the Indian retail industry, in 2011, Big Bazaar came up a new logo with a new tag line: ‘Naye India Ka Bazaar’(New India’s Market), replacing the earlier one: 'Isse Sasta Aur Accha Kahin Nahin' (Nothing is cheaper and better than here). In 2012, Big Bazaar signed a multi-million dollar deal with Cognizant Technology Solutions for the development of an IT infrastructure, encompassing Future Group’s entire network of stores, warehousing and data centres.
Recently, Big Bazaar announced its plans to add more retail services to its portfolio such as grinding, de-seeding and cutting of fruits and vegetables. 3-C Theory According to Kishore Biyani's 3-C theory, Change and Confidence among the entire population is leading to rise in Consumption, through better employment and income which in turn is creating value to the agricultural products across the country.[2] Big Bazaar has divided India into three segments: 1. India one: Consuming class which includes upper middle and lower middle class (14% of India's population). 2. India two: Serving class which includes people like drivers, household helps, office peons, liftmen, washer men, etc. (55% of India's population) and 3. India three: Struggling class (remaining 31% of India's population). While Big Bazaar is targeted at the population across India one and India two segments, Aadhaar Wholesale is aimed at reaching the population in India three segment. With this, Future Group emerged as a retail destination for consumers across all classes in the Indian society. Board of directors 1. Managing director Mr kishore Biyani 2. Wholetime Director Mr Gopikishan Biyani Mr Rakesh Biyani 3. Director Mr Shailesh Haribhakti Mr S.Doreswamy Mr Darlie Koshy Mr Anil Harish
Schemes and innovations The introduction of ‘Sabse Sasta Din’ (Cheapest Day) in the year 2005 was a turning point for the Big Bazaar franchise. As part of this effort, the Republic Day holiday was used to ensure that consumers visited Big Bazaar outlets across the country in large numbers to get required household items at cheaper rates. Taking cue from this highly successful concept, another initiative was introduced, named the ‘Purana do aur naya lo’ (give old and get new) scheme. In this scheme, consumers were asked to bring and sell old clothes, utensils and other household items in exchange of discount coupons. The concept proved to be a success yet again as people from across the country responded spontaneously, in spite of the different preconditions associated with it. The franchise further inaugurated the concept of ‘Hafte ka sabse sasta din’ (Cheapest Day of the Week), wherein Wednesday was designated to be the day when special discounts were offered to consumers during a week. Wednesday Bazaar The concept of Wednesday Bazaar was promoted as ‘Hafte Ka Sabse Sasta Din’ (Cheapest Day of the Week). Initiated in January 2007, the idea behind this scheme was to draw customers to stores on Wednesdays, the day when consumer presence is usually less. According to the chain, the aim of the concept was ‘to give home makers the power to save the most’. Sabse Sasta Din Big Bazaar introduced ‘Sabse Sasta Din’ (Cheapest Day) with the intention of attaining a sales figure of Rs 26 crore in a single day. The concept became such a hit that the time period for the offer had to be increased from one day to three days in 2009 (January 24 to 26) and to five days in 2011 (January 22 to 26). Maha Bachat The concept of ‘Maha Bachat’ (Mega Saving) was introduced in the year 2006 as a single day campaign with attractive promotional offers across the company outlets. Over the years, the concept has grown to become a six-day biannual campaign. During this campaign, attractive offers are given in all the value formats including Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar.
The Great Exchange Offer Introduced on February 12, 2009, ‘The Great Exchange Offer’ allows customers to exchange their old goods for Big Bazaar coupons. The coupons can be redeemed later for buying brand new goods from Big Bazaar outlets across the nation. Advertising campaigns and marketing initiative. In view of the increasing competition in the retail market, Big Bazaar has introduced certain steps to keep itself updated and continue promoting the band.
MISSION:
We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development.
We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments for classes and for masses.
We shall infuse Indian brands with confidence and renewed ambition.
We shall be efficient, cost- conscious and committed to quality in whatever we do.
We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful
VALUES: Indianans: Confidence in ourselves. Leadership: To be a leader, both in thought and business. Respect & Humility: To respect every individual and be humble in our conduct. Introspection: Leading to purposeful thinking. Openness: To be open and receptive to new ideas, knowledge and information. Valuing and Nurturing Relationships: To build long term relationships
COMPETITORS OF RELIANCE FRESH: Reliance Fresh: Reliance Fresh is the convenience store format which forms part of the retail business of Reliance Industries of India which is headed by Mukesh Ambani. Reliance plans to invest in excess of Rs 25000 cores in the next 4 years in their retail division. The company already has in excess of 560 reliance fresh outlets across the country. These stores sell fresh fruits and vegetables, staples, groceries, fresh juice bars and dairy products. A typical Reliance Fresh store is approximately 3000-4000 square. feet and caters to a catchment area of 1-2 km. Spencer's Retail Spencer's Retail is one of India’s fastest growing retail stores. It has multiple Formats for retailing food, apparel, fashion, electronics, lifestyle products, music and books. It is owned by the RPG Group, a major business house. Established in 1996, Spencer’s is one of the popular destinations for shoppers in India with supermarkets, hypermarkets and dailies spread all over India. Subhiksha: Subhiksha is an Indian retail chain with more than 1400 outlets selling groceries, fruits, vegetables, medicines and mobile phones. It was started ands managed by R Subramanian, an IIM Ahmadabad alumnus. Subhiksha plans to open 1000 outlets by December 2008. [1] He also plans to invest Rs.500 crore to increase the number of outlets to 2000 across the country by 2009.The name Subhiksha means prosperity in Sanskrit. It opened its first store in Thiruvanmiyur in Chennai in March, 1997 with an investment of about Rs. 5 lakhs. The retail chain has seen a considerable growth by offering goods at cheaper rates and thereby increasing its customer base.
NEED FOR THE STUDY
The study shows the customer preference on Wednesday bazaar. Its provide guideline for further research in organized retail. The research is also important to identify Market size, growth and Market potential of Big Bazaar. The research shows future scenario of Big Bazaar in current perspective. Wednesday Bazaar customers are not aware about the product range of the company and also poor customer service. In Big bazaar frequency of advertisement screening is limited and there is a threat from completion from local retailers. The study provides in finding out the profile, preference, perception and satisfaction level of the customers who visit the outlet of Big Bazaar at Express Avenue, Chennai.
OBJECTIVES OF THE STUDY 1. Primary objective: a) To identify the customer preference on Wednesday Bazaar 2. Secondary objective: a) b) c) d)
To identify the satisfaction level of customer To find out if sales has increased because of Wednesday discount. To compare the frequency of visit to Big Bazaar whether is it more on Wednesday To study the effectiveness of promotional activities done in big bazaar
SCOPE OF THE STUDY
The study was aimed at measuring the customer’s satisfaction level towards customer preference in big bazaar through well designed questionnaires.
Helps the marketers to know about the types of buyers and the factors each of these kinds of buyers consider while shopping in Big Bazaar.
The study knows about the customer’s view and factors related to preference that attracts them to purchase from the Big Bazaar.
This study will also help to know which discount will influence which buyer for which product.
LIMITATION OF THE STUDY
The survey was limited only to the customers of Big Bazaar outlet at Express Avenue in Chennai.
The survey is subjected to the bias and prejudices of the respondents. Hence 100% accuracy can’t be assured. Result are limited to the respondent, cannot be used for total customer.
The accuracy of the findings is trusted by the accuracy of the statistical tools used for analysis.
Few respondents were reluctant while answering the questions due to their busy schedule
REVIEW OF LITERATURE Literature review on parameters or attribute that affect evaluation of store by consumer preference. Retailer accessibility to the customer is the set of options available to satisfy the product requirements. Product requirements refer to buying motives and their associated purchase criteria.
Martineau (1958) categorized store attributes in two main categories: functional and psychological. The functional category includes attributes like location, assortment of products and store layout. The psychological category represents the feelings generated by the functional elements of the store. The former category has gained more attention in the subsequent research into store choice than the latter.
Doyle &Fenwick (1975), propose that price, product variety, one-stop shopping, quality, location of the store, advertisement, general appearance of the store and convenience are some major attributes looked upon by the consumers while evaluating a grocery store.
The model proposed by Seth (1981), explained “the competitive structure of the retail markets, the corporate image of the retailers, and the marketing activities influence the retailers accessibility‟
Shaw et al (1992) in their opinion on the retailers and customer purchases stated that buyers use only a subset of product requirements to decide among many retailers when making an actual purchasing decision. Retailing is the one of the most dynamic and rapidly changing sectors of Indian industry. Multiple retail companies now dominate the unorganized retail sector and threatening their existence.
Arnold et al (1998) with reference to Wal-Mart discount departmental stores in United States of America that the impact on the other retail stores is high and many of which have at the disappearing stage.
Dawson, (1988) The unorganized retail sector face increased pressure from the organized retailers, super stores. Further as the economy and society has hanged, so have retailers and shopping habits of consumers also altered enormously.
Another study conducted by Morganosky (1997), on the structural changes in the retail markets and their implications on consumers revealed that due to the emergence of new retail formats, competition between retailers of organized and unorganized is tightening with pervasiveness and complexity of consumer cross shopping patters across various retail channels.
Brennan & Lundsten (2000), in their study on the consumer shopping habits identified that consumers shop at discounts for low prices and large variety and stores for the unique items they cannot find elsewhere.
The closure of a small shop with a super store nearly would affect the residents of a local neighborhood differently compared to the closure of only shop in a small locality without a super store nearby and the decline in the number of small shops has different implications to the existing customers depending upon the locations and alternative options to shop (Smith & Sparks, 1997).
If conventional unorganized retailers are to survive, it will be vitally important to understand what the residents in a particular community want from their retailers. Only those stores with a clear understanding of their customer wants and changes that are occurring within the market place can hope to survive by identifying and then satisfying some of those needs more effectively than their competitors.
Another study conducted by Radha Krishnan (2003), found that with the entry of Superstores, the most affected stores are precisely the smaller stores, whose sales are associated with small areas, few number of employees, low sales volumes and the isolated stores ( Stores that do not have partnership with other retailers).
Brennan(1991), in his view on strategies adopted by the retailers opined that providing specialized services, offering better quality products and improved customer services were the most successful strategies , on the other hand increasing sales and promotions, lowering prices and increasing were least successful.
Mc Gee (1996) is also of the opinion that retailers facing threat from new discounters respond with lower prices and increased promotions.
Watkins (1986) proposed that the strategies adopted should avoid low price and differentiation domain of the large retailer and emphasize a focused offer.
Covin & Covin (1990) also stated that small business strategies propose customer service and product specialization or customization as appropriate strategic moves.
4. RESEARCH METHODOLOGY
Introduction Research is a key to both business and academic activities and it is carried out in all sorts of fields to find out better solutions and scope. People undertake research in order to find things in a systematic way, there by increasing the knowledge (Jancowicz, 1995). ‘Research is considered as systematic because the research is always based on logical relation ships and not just beliefs. (Ghauri,1995). ‘As a part of this your research will involve an explanation of the methods used to collect the data, will argue why the results obtained are meaning full and will explain any limitations that are associated with them. ‘Finding out, suggests a multiplicity of possible purposes for your research. These may include describing, explaining, understanding, criticizing and analyzing’ (Hhauri, 1995) Definition ‘Research is defined as a process of enquiry and investigation’ (Jill Collis and Roger Hussey, business research,2nd ed,2003,pp1)
Purpose of research ‘Carrying out research allows you to apply theory to and or analyse a real problem or to explore and analyse more general issues. It also enables you to apply research procedures in order to illuminate the problem or to generate solutions. The purpose of research is as follows’. 1. To review and synthesise existing knowledge 2. to investigate some existing situation or problem 3. to provide solution to a problem 4. to explore and analyse more general issues 5. to construct or create a new procedure or system 6. to explain a new phenomenon 7. to generate new knowledge
The research strategy ‘The research strategy is the general plan of the researcher about how he/she is going to answer the research question’ Yin (2003).According to (Saunders , Lewis, and Thornhill ,2003). There are various types of research strategies available. Types of research ‘The research can be classified in to various types on the basis of its purpose. If we are classifying research on the basis of its purpose, we can describe as being descriptive, analytical or predictive’. Following are the various types of research. (Jill Collis & Roger Hussey, 1997) 1. Exploratory research: - This is conducted in to research problem were there are very few or no earlier studies, ‘the main aim of this type of research is to look for patterns or hypotheses rather than testing or confirming a hypotheses’. 2. Descriptive research: - Here it describes the phenomenon as they exist. It is used to identify and obtain information on the characteristics of a particular problem or issue. The data collected is often quantitative and statistical tools are used to summaries the information. 3. Analytical or explanatory research: - Here the researcher goes ‘further more from the descriptive research to analysing and explaining why or how it is happening’. 4. Predictive research: - Here the researcher goes even further more than explanatory research. ‘The latter establishes the explanation for what is happening in particular situation. It aims to generalize from the analysis by predicting certain phenomena on the basis of hypothesized, general relation ships’. These are the major type of researches.
Survey strategy This is most common method used for data collection. By filling a questionnaires or structured interview using two or more variables will be processed to conclude a certain pattern of association (Bryman & Bell, 2007). In this research the qualitative information is collected by using questionnaire.
Primary data Primary data are the new data collected specifically for a particular research purpose. Saunders, Lewis & Thornhill (2003) .These are the most up to date and first hand information to the main objectives of the research. The primary data are collected through questionnaires. Questionnaire: In this study the researcher has used the questionnaire in terms of interviewer administered and the sampling method used here is Random sampling. This method is selected based on the ease of access in the process of data collection Reasons for using this method
Observing the working of various departments like finance, safety, human resources, production, purchasing etc. Discussion with the company executives, managers and employees. Visiting and surfing website of the company Customer survey.
Purpose The main purpose of questionnaire was to collect quantitative data about the customer preference on Wednesday bazaar activities. Sample size For this study the researcher has used a sample size 50, completed questionnaires were used to study including both male and female respondents.
5. RESULTS AND DISCUSSIONS
GENDER TABLE: 1 TABLE SHOWING THE GENDER OF RESPONDENTS GENDER Male Female Total Findings:
No. of respondent
Percent
20 30 50
40 60 100
From the above table it is clear that 40% of respondent were male and 60% of respondent were female. Inference: From the finding of gender of respondent 60% were all female.
CHART: 1. CHART SHOWING THE GENDER OF RESPONDENTS
Male, 20
Female, 30
AGE TABLE: 2. TABLE SHOWING AGE OF RESPONDENTS Age group 18-20 21-30 31-50 Above 50 Total Findings:
No. of respondent 6 13 24 7 50
Percent 12 26 48 14 100
From the above table it is clear that 12% of respondent belongs to the age group of 18-20, 26% of respondent belongs to the age 21-30, 48% of respondent belongs to the age 31-50 and 14% of respondent belongs to the age 50 above. Inference: Age group of between 31-50 visit more in Big Bazaar
CHART: 2. CHART SHOWING AGE OF RESPONDENTS
Above 50, 7
18-20, 6
21-30, 13
18-20 21-30 31-50
31-50, 24
Above 50
NO.OF FAMILY MEMBERS TABLE: 3.TABLE SHOWING NO. OF FAMILY MEMBERS No. of member
No. of respondent
Percent
2
11
22
3
18
36
4
12
24
Above 5
9
18
Total
50
100
Findings: From the above table it is clear that the highest no. of family size members of 3 is about 36%, next come the family size members of 4 is 24%, than 22% family size respondent of 2 and the minimum family size of respondent of above 5 is 18%. Inference: Highest respondent family size is more than 3 and minimum is 5
CHART: 3. CHART SHOWING NO. OF FAMILY MEMBERS
No. of family members Above 5 4 No. of respondent 3 2 0
5
10
15
20
BUY PRODUCT FROM BIG BAZAAR
Reasons
No. of respondent
Percent
Myself
19
38
Family
27
54
Office
4
8
Total
50
100
TABLE: 4. TABLE SHOWING BUY PRODUCT TO BIG BAZAAR Findings: From the above table it is clear that the highest no. of respondent buy product by family is about 54%, the next is to whom the respondent buy the product is myself is about 38%, and the minimum to whom the respondent buy the product is office about 8% Inference: Big Bazaar product bought by the family member more than myself and office CHART: 4. CHART SHOWING BUY PRODUCT TO BIG BAZAAR
Reason for buy the product 30 25 20 No. of respondent
15 10 5 0 Myself
Family
Office
PARTICULAR DAY OF VISIT IN BIG BAZAAR TABLE: 5.TABLE SHOWING PARTICULAR DAY OF VISIT IN BIG BAZAAR Days Sunday Monday Tuesday Wednesday Thursday Friday Saturday Total Findings:
No. of respondent 13 4 4 12 4 5 8 50
Percent 26 8 8 24 8 10 16 100
From the above table it is clear that the particular day of visit in big bazaar on Sunday is slightly higher than Wednesday. The percentage of Sunday shopping is 26% and the percentage of Wednesday shopping is 24%. Inference: Most of people visit in the Big Bazaar on Sunday and Wednesday.
CHART: 5. CHART SHOWING PARTICULAR DAY OF VISIT IN BIG BAZAAR
Visits in Big Bazaar Saturday Friday Thursday Wednesday
No. of respondent
Tuesday Monday Sunday
0
5
10
15
WEDNESDAY OFFERS FROM BIG BAZAAR ARE USEFUL
TABLE: 6. TABLE SHOWING WEDNESDAY OFFERS FROM BIG BAZAAR ARE USEFUL Reasons Yes No Total
No. of respondent 45 5 50
Percent 90 10 100
Findings: From the above table it is clear that the Wednesday offers from Big Bazaar are very useful of 90% and not useful for 10% of respondent. Inference: Wednesday offers products are well useful .
CHART: 6. CHART SHOWING WEDNESDAY OFFERS FROM BIG BAZAAR ARE USEFUL
Wednesday offers are useful No, 5
Yes No Yes, 45
THINGS NEED TO BE BETTER ON WEDNESDAY BAZAAR
TABLE: 7. TABLE SHOWING THE THINGS NEED TO BE BETTER ON WEDNESDAY BAZAAR Reasons Increase cash counter entries
No. of respondent
Percent
11
22
Improve additional Customer service Awareness of discount products Arrangement of products
18
36
13
26
8
16
Total
50
100
Findings: From the above table it is clear that the things need to be better on Wednesday Bazaar is to improve additional customer service of 36%, Awareness of discount products of 26% , Increase cash counter entries 22% and Arrangement of products of 16%. Inference: Wednesday bazaar need to concern about improves additional customer service and awareness of discount products.
TABLE: 7. CHART SHOWING THE THINGS NEED TO BE BETTER ON WEDNESDAY BAZAAR
Better on wednesday bazaar Arrangement of products 16%
Awareness of discount products 26%
Increase cash counter entries 22% Improve additional Customer service 36%
DISCOUNT RATE ON WEDNESDAY BAZAAR IS USEFUL FOR ALL KIND OF AGE PEOPLE
TABLE: 8. TABLE SHOWING THE DISCOUNT RATE ON WEDNESDAY BAZAAR IS USEFUL FOR ALL KIND OF AGE PEOPLE Reasons
No. of respondent
Percent
Yes
42
84
No
8
16
Total
50
100
Findings: From the above table it is clear that the discount rate on Wednesday bazaar is useful for all kind of age people about 84% and remaining is not useful for all kind of age people. Inference: Wednesday offers products are well useful for all age of customers.
TABLE: 8. CHART SHOWING THE DISCOUNT RATE ON WEDNESDAY BAZAAR IS USEFUL FOR ALL KIND OF AGE PEOPLE
Discount rate on wednesday bazaar No, 8
Yes No Yes, 42
MOST DISCOUNT OFFER PRODUCT ON WEDNESDAY BAZAAR
TABLE: 9. TABLE SHOWING THE MOST DISCOUNT OFFER PRODUCT ON WEDNESDAY BAZAAR
Reasons
No. of respondent
Percent
Potato – 1 kg for Rs.17
23
46
50% discount on all deodorants Apple 1 kg Rs.129
9
18
10
20
20% discounts on all cream biscuits Total
8
16
50
100
Findings: From the above table it is clear that the most discount offer product on Wednesday bazaar is Potato- 1 Kg for Rs. 17/- about 46%, next with an Apple 1kg Rs.129/- about 20%, 50% discount on all deodorants about 18% and remaining 20% discount on all cream biscuits about 16%. Inference: Maximum no. of people prefer on fruits and vegetables discount prices. TABLE: 9. CHART SHOWING THE MOST DISCOUNT OFFER PRODUCT ON WEDNESDAY BAZAAR
Best product on wednesday bazaar 20% discounts on all cream biscuits Apple 1 kg Rs.129 No. of respondent
50% discount on all deodorants
Potato – 1 kg for Rs.17 0
5
10
15
20
25
PREFER OTHER THAN BIG BAZAAR
TABLE: 10. TABLE SHOWING PREFER OTHER THAN BIG BAZAAR. Shop name Reliance fresh Mega mart Shoppers stop Others Total Findings:
No. of respondent 21 13 8 8 50
Percent 42 26 16 16 100
From the above table it is clear that the 42% of the respondent prefer to purchase product from the reliance fresh, 20% from mega mart, and equal 16% to the shoppers stop and Other shops. Inference: People prefer reliance apart from Big bazaar and prefer less shopper stop.
CHART: 10.CHART SHOWING PREFER OTHER THAN BIG BAZAAR.
Most prefer shop Others Shoppers stop No. of respondent Mega mart Reliance fresh 0
5
10
15
20
25
CHOOSE BIG BAZAAR FOR SHOPPING
TABLE: 11. TABLE SHOWING CHOOSE BIG BAZAAR FOR SHOPPING. Reason
No. of respondent
Percent
Quality of product
12
24
Price
16
32
Availability of all product in one Floor Convenient for shopping
9
18
7
14
Customer service
6
12
Total
50
100
Findings: From the above table it is clear that the 32% of respondent prefer big bazaar for the price of the product, 24% prefer product for their quality, 18% prefer big bazaar for the availability of all product under one roof, 14% prefer for the convenient shopping, and remaining 12% prefer for the customer service of big bazaar. Inference: Most of people prefer Big Bazaar due to price and availability of all products in one floor and some people ignore due to customer service.
CHART: 11. CHART SHOWING CHOOSE BIG BAZAAR FOR SHOPPING.
Customer service, 6, 12% Convenient for shopping, 7, 14%
Reason for shopping Quality of product, 12, 24%
Price, 16, 32%
Availability of all product in one Floor , 9, 18%
SECTION LIKE MOST
TABLE: 12. TABLE SHOWING SECTION LIKE MOST. Section Home and kitchen items
No. of respondent 17
Percent 34
Bags & luggage Mobiles & camera
10 6
20 12
Electronic goods
8
16
Garments
9
18
Total
50
100
Findings: From the above table it is clear that the 34% of respondent would like to purchase home and kitchen appliances more, 20% prefer to purchase bags and luggage’s, 18% prefer to purchase garments , 16% prefer to purchase electronic goods from big bazaar and remaining 12% prefer mobiles and camera. Inference: Maximum number of people like home and kitchen items and than garments section
CHART: 12. CHART SHOWING SECTION LIKE MOST.
Section you like most Garments Electronic goods Mobiles & camera
No. of respondent
Bags & luggage Home and kitchen items 0
5
10
15
20
RATE OF ACTIVITIES TABLE: 13. TABLE SHOWING RATE OF ACTIVITIES. Work
Highly satisfied
satisfied
Advertisement 12
13
Neither satisfied nor dissatisfied 16
dissatisfied
Highly dissatisfied
6
3
Offers
20
16
11
2
1
Discount
22
10
13
3
2
Arrangement of product Total
14
10
24
2
0
48
49
64
13
6
Findings: From the above table it is clear that most of the people are highly satisfied to discount, offers and arrangement of products in big bazaar. Inference: People highly satisfied with the offers of Big Bazaar.
CHART: 13. CHART SHOWING RATE OF ACTIVITIES.
25 20 15 10
Advertisement Offers
5 0
Discount Arrangement of product
6. FINDINGS
60% were all female respondent Age group of between 31-50 visit more in Big Bazaar Highest respondent family size is more than 3 and minimum is 5. Big Bazaar product bought by the family member more than the myself and office Most of people visit in the Big Bazaar on Sunday and Wednesday. Wednesday offers products are well useful for all age of customers. Maximum no. of people prefer on fruits and vegetables discount prices. Wednesday bazaar need to concern about improves additional customer service and awareness of discount products. Most of people prefer Big Bazaar due to price and availability of all products in one floor and some people ignore due to customer service. Maximum no. of people like home and kitchen items and than garments section. People prefer reliance apart from Big bazaar and prefer less shopper stop.
People highly satisfied with the offers of Big Bazaar.
SUGGESTION
Seating facilities could be provided since there are aged people visiting the store Price of products could be reduced but it needs to improve by setting more branded products at discount prices Customer service should be improved about the essential of Wednesday Bazaar. Display of Wednesday Bazaar boards are to be kept for attract the customers in ever on. All the billing counters should be kept opened even during the week days. Variety of products with good quality should be brought in. Improve the billing process.
7. CONCLUSION The research work is done with a very definite proposition of finding the customer preference and expectation on Wednesday in Big Bazaar, Express Avenue Chennai. People prefer more branded and variety of products with good quality on the discount rate. Customers also feel that there should be proper customer service. As customer satisfaction plays a vital role, it has to be concentrated on seriously. In conclusion, matching customer expectation and satisfaction through proper service of marketing activities will improve company reputation and create loyal customers.
BIBLIOGRAPHY BOOKS
1. C.R.Kothari ‘Research Methodology Methods and techniques’, Revised 2nd Edition, New Age International Publishers, 2004
2. Philip Kotler, ‘Marketing Management’, Revised Edition, Prentice Hall of India, New Delhi, 2006.
3. Philip Kotler and Kevin Lane Keller, ‘Marketing Management’, Dorling Kinersley (India) Pvt Ltd, 2007
Websites
1. www.bigbazaar.com 2. www.pantaloon.com 3. www.workforce.com 4. www.futurebazaar.in
ANNEXURE QUESTIONNAIRE A STUDY ON CUSTOMERS PREFERENCE FOR BIG BAZAAR AT CHENNAI
Name: - _______________________________________________________
Gender: - □ Male Age: - □11 – 20yr
□ Female □ 21 – 30yr
□ 31 -50yr
□ 50 above
1. No. of Family Members: a) 2 b) 3 c) 4 d) 5 and above
2. Whom do you buy products for from Big Bazaar? a) Myself
b) Family
c) Office
3. Do you like to shop on a particular day in Big Bazaar? □ Monday □ Tuesday □ Wednesday □ Thursday □ Friday □ Saturday □ Sunday
4. Are you aware of the Wednesday offers from Big Bazaar are that useful? a) Yes
b) No
5. What are the things need to be better on Wednesday bazaar? □ Increase cash counter entries □ Improve additional Customer service □ Awareness of discount products □ Arrangement of products
6. Is the discount rate on Wednesday bazaar is useful for all kind of age people?
a) Yes
b) No
7. Which product you like the most discount on Wednesday bazaar? a) Potato – 1 kg for Rs.17 b) 50% discount on all deodorants c) Apple 1 kg Rs.129 d) 20% discounts on all cream biscuits
8. Which of the following you prefer other than Big Bazaar? □ Reliance Fresh
□ Mega Mart
□ Bharti | Wal-Mart
□ Shoppers Stop
□ Others: - ___________________________
9. What made you choose Big Bazaar for shopping? a) Quality of the products
b) Price
c) Availability of all products in one place
d) Convenient for shopping e) Customer service
10. Which section you like most? a) Home and Kitchen items d) Foods and Vegetables section
b) Bags and Luggage e) E-Zone products
c) Toys and Games
11. Rate the following: Activity 1 Advertisements Offers Discounts Arrangement of products
2
1 – Highly satisfied 2- Satisfied 3 – Neither satisfied nor dissatisfied 4 – Dissatisfied 5 – Highly dissatisfied Any Suggestions: _____________________
3
4
5
