applied economics.docx

8/17/2019 Applied Economics.docx

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A STUDY OF

CONSUMER BUYING BEHAVIOUR AT BIG BAZAAR

PVT. LTD., NEW DELHI

A report submitted in partial fulfillment of the

requirements for the degree of

Bachelo! o" B#!$%e!! Eco%o&$c!

By

V$!hal S$%'h (BBE)*+-)-/

L.Ga%e!h 0$!h%a (BBE)*+12)-/

A!h$3 Sa4e%a (BBE)*+*)-/

U35a!h Ve&a (BBE)*+*)-/

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)ead

Dept! of Management

Birla Institute of Technology

Mesra, Ranchi& *+-.&'oida (ampus

CERTIFICATE OF APPROVAL

The foregoing project entitled “A S3#:; o" Co%!#&e aa P=3. L3:.?, is here"y approed as a

credita"le study of research topic and has "een presented in

satisfactory manner to warrant its acceptance as prerequisite to

the degree for which it has "een su"mitted!

It is understood that "y this approal, the undersigned do not

necessarily endorse any conclusion drawn or opinion e/pressed

therein, "ut approe the project for the purpose for which it is

su"mitted!

(I%3e%al E4a&$%e/ (E43e%al E4a&$%e/

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(D$ec3o/

AC0NOWLEDGEMENT

0e are ery thankful to our mentor D. M#%$!h Ma55a: a%: all

3he "ac#l3; &e&


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TABLE OF CONTENTS

Contents Pages

1. Introduction ……………………………… 8

2. O!ecti"e o# $esearc% Stud& ……………1' 2.1. (ar)et ana*&sis ……………………….1'

+. $esearc% (et%odo*og& ……………………11

+.1. Source o# data …………………………11

+.1. 1. Sur"e& ,et%od ………………11

+.1. 2. Cross sectiona* sur"e&…….11

+.2. Sa,-*e sie …………………………….11 +.+. Ti,e ta)en ……………………………..11 +./. Too*s and Tec%ni0ues o# ana*&sis.12

/. Aout us …………………………………1/

/.1. rou- "ision ………………….1/

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/.2. rou- ,ission ……………….1/

/.+. Introduction to ig aaar...........1 /./. Product *ine …………………………….13

/.. (ar)eting strateg& ………………….14

/.. 1. Seg,entation ……………….14 /.. 2. Targeting ……………………..18 /.. +. Positioning …………………...15

/.. /. (ar)eting ,i6 ……………….15 /.3. Co,-etitors ………………………….2+

/.4. (a!or -ro*e,s ……………………..2/

. Statistica* too* ana*&sis……………………23

.1. Sur"e& ana*&sis…………………………23 .2. Trend ana*&sis…………………………..+2

.+. Con!oint ana*&sis……………………….++

3. enera* sur"e& and consu,er e%a"iorana*&sis #or -ac) o# t7o ………………………/+

4. Conc*usion ……………………………………../4

8. Bi*iogra-%& …………………………………..5 5. Anne6ure ……………………………………… '

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-. INTRODUCTION

!

R7TAI3 I'D62TR8

In the Indian retailing industry, food is the most dominating sector and is growing at a rate of 9: annually! India retail industry isprogressing well and for this to continue retailers as well as theIndian goernment will hae to make a com"ined effort! The"randed food industry has already entered the Indian retailindustry and is trying to e/pand oer time! 2ince at present ; ++< "illion in -


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(ontinuing the ro"ust growth of the organied retail in India,according to the (redit Rating and Information 2erices of India,the industry raked in 62> -!@@ "illion turnoer in -


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1. OBECTIVE OF RESEARCH STUDY

1.-. MAR0ET ANALYSIS

The research o"jecties of this project are#&

a! Marketing actiities and operational actiities are always drien withan aim of getting sale increased with innoate ideas! Fffers are designedin such a manner that customers are made to go and e/perience theshopping!Marketing also gies some offer to increase the "ill sie, taking inconsideration the on going fashion in ogue!

"! Marketing 2trategies targeting the customer# Adertising 2trategy H6nderstanding the media consumption ha"its of the customer!

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. RESEARCH METHODOLOGY

.-. SOURCE OF DATA.-.-. SURVEY METHOD

Data are usually collected through the use of questionnaires! Thedata is collected "y mean of simple surey done in the retail storeof the customers!

.-.1. CROSS6SECTIONAL SURVEYS

(ross&sectional sureys are used to gather information on a populationat a single point in time!

The customers were sureyed to find out their consumption "ehaior for the products in arious schemes!

A different cross&sectional surey questionnaire might try to determinethe relationship "etween two factors, like religiousness of parents andiews on Internet filtering!

.1. SAMPLE SIZE

A sample sie of 9< was considered in this project! That is, a totalnum"er of respondents were 9< for surey!

.. TIME TA0EN

The time of research was . month and sureys of some peoplewere done daily! The research was "ased on the change inconsumption of customers for the products in scheme!

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.*. TOOLS AND TECHNIUES OF ANALYSIS

.*.-. PERSONAL INTERVIEW

ersonal interiews are highly suscepti"le to inadertentsignalingJ to the respondent! The cumulatie effect of seeralfacial e/pressions is likely to "e felt! By the use of this method thefacial e/pressions tell a"out how a customer feels a"out theproduct, and his knowledge a"out the product in the scheme!This will let us know following#&

.! The reason could "e known that why a product isnot liked and what are shortcomings in the

productK-! The preference for the product of the customerK+! 0ho are the frequent customersK

.*.1. PROECTIVE TECHNIUES rojectie techniques are used when a consumer may feel

em"arrassed to admit to certain opinions, feelings, or preferences!It has "een found that in such cases, people will tend to respondmore openly a"out someone else!J Thus, we may ask them toe/plain reasons why others not "uying the product, or why other customers are not willing to take adantage of the scheme, or whatchanges they want should "e there for their conenience!

.*.. OBSERVATION OF CONSUMER

F"seration of customers is often a powerful tool! 3ooking at howconsumers select products may yield insights into how they makedecisions and what they look for! F"sering consumers, tellsa"out#&

.! 0hat is he looking in the productK-! Is he "rand loyalK+! Is he more or less price sensitieK@! Is he more interested in packaging,

manufacturing, etc!

! 0hether his taste has shiftedK

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F"seration may help us determine how much time consumersspend comparing prices, or whether nutritional la"els are "eingconsulted!

.*.*. SCANNER DATA

Many consumers are mem"ers of supermarket clu"s!J They areproided with customer card which they hae to present this whenthey make purchases= consumers are often eligi"le for considera"le discounts on selected products!

'early all retailers in the area usually cooperate! It is now possi"le

to track what the consumer "ought in all stores and to hae ahistorical record!

The consumerGs shopping record is usually com"ined with#&.! Demographic information $e!g!, income, educational leel of

adults in the household, occupations of adults, ages of children, and whether the family owns and rents%!

-! The consumption quantity could "e know a"out theproduct which is used in good quantityK

.*.+. PHYSIOLOGICAL MEASURES

hysiological measures are occasionally used to e/amineconsumer response! It helps to know#&

.! Adertisers may want to measure a consumerGs leel of arousal during arious parts of an adertisementK

-! In retail stores paging is done at a interal of time of schemes and discounts so that people are made aware andthey can "e prooked to "uy!

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*. ABOUT US

*.-. GROUP VISION

Luture 4roup shall delier 7erything, 7erywhere, 7ery timefor 7ery Indian (onsumer in the most profita"le manner!

*.1. GROUP MISSION

0e share the ision and "elief that our customers andstakeholders shall "e sered only "y creating and e/ecutingfuture scenarios in the consumption space leading to economic

deelopment!0e will "e the trendsetters in eoling deliery formats, creatingretail realty, making consumption afforda"le for all customer segments H for classes and for masses!

0e shall infuse Indian "rands with confidence and renewedam"ition!

0e shall "e efficient, cost& conscious and committed to quality in

whateer we do!

0e shall ensure that our positie attitude, sincerity, humility andunited determination shall "e the driing force to make ussuccessful!

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*. INTRODUCTION TO BIG BAZAAR

a! It is a chain of shopping malls in India currently with +. outlet owned

"y 5ishore BiyaniGs antaloon 4roup!"! Big "aaar is not just another hypermarket, "ut also proides the "estproducts at the "est price!

c! It Reflect the look and feel of Indian "aaars at their modern outlets! All oer India, Big Baaar attracts a few thousand customers on anyregular day!

d! Big Baaar is a chain of department stores in India, currently with 9-

stores! It is owned "y the antaloon Retail India 3td, Luture 4roup! Ithas considera"le success in many Indian cities and small towns!

e! A department store is a retail esta"lishment which specialies inselling a wide range of products without a single predominantmerchandise line! Department stores usually sells products includingapparel, furniture, appliances, electronics, and additionally select other lines of products such as paint, hardware, toiletries, cosmetics,photographic equipment, jewelery, toys, and sporting goods!

The idea was pioneered "y entrepreneur 5ishore Biyani, the (7F of Luture 4roup! (urrently Big Baaar stores are located only in India! It isthe "iggest and the fastest growing chain of department store and aimsto hae .< outlets "y une -


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*.*. PRODUCT LINE

)ere, one finds oer .?


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2egmentation inoles finding out what kinds of consumers withdifferent needs e/ist! In the auto market, for e/ample, someconsumers demand speed and performance, while others aremuch more concerned a"out roominess and safety! In general, it

holds true that 8ou canGt "e all things to all people,J ande/perience has demonstrated that firms that specialie in meetingthe needs of one group of consumers oer another tend to "emore profita"le!

2eeral different kinds of aria"les can "e used for segmentation#&.! Demographic aria"les essentially refer to personal statistics such asincome, gender, education, location $rural s! ur"an, 7ast s! 0est%,ethnicity, and family sie! (amp"ellGs soup, for instance, has found that

0estern 6!2! consumers on the aerage prefer spicier soupsNthus, youget a different product in the same cans at the 7ast and 0est coasts!Lacing flat sales of guns in the traditional male dominated market, amanufacturer came out with the 3ady Remmington, a more compact,handier gun more attractie to women! Taking this a step farther, it isalso possi"le to segment on lifestyle and alues!J -! 2ome consumers want to "e seen as similar to others, while adifferent segment wants to stand apart from the crowd! ! Another "asis for segmentation is "ehaior! 2ome consumers are"rand loyalJNi!e! they tend to stick with their preferred "rands eenwhen a competing one is on sale! 2ome consumers are heayJ userswhile others are lightJ users! Lor e/ample, research conducted "y thewine industry shows that some *


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)ow well are e/isting segments sered "y other manufacturersK It will"e more difficult to appeal to a segment that is already well sered thanto one whose needs are not currently "eing sered well!

2econdly

)ow large is the segment, and how can we e/pect it to growK

Thirdly

Do we hae strengths as a company that will help us appeal particularlyto one group of consumersK

-! Big Baaar targets higher and upper middle class customers!

+! The large and growing young working population is a preferredcustomer segment!

@! Big Baaar specifically targets working women and homemakers who are the primary decision makers!It is part of Big BaaarGs new 4uerrilla Marketing 2trategy!

! 4uerrilla force is diided into small groups that selectiely attackthe target at its weak points! 4uerilla marketing is just one of thestrategies and surely one can learn a lot from the ongoing "attle,especially people interested in marketingmarketing techniques!

*.+.. POSITIONING

ositioning inoles implementing our targeting! Lor e/ample, Apple(omputer has chosen to position itself as a maker of user&friendlycomputers.

*.+.*. MAR0ETING MI

Ma$% A!@ec3! o" Ma5e3$%' M$

The easiest way to understand the main aspects of marketing isthrough its more famous synonym of E@s of MarketingE! Theclassification of four s of marketing includes marketing strategiesof product, price, placement and promotion! The following diagram

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is helpful in determining the main ingredients of the four s in amarketing mi/!

PRODUCT

In simpler terms, product includes all features and com"ination of

goods and related serices that a company offers to its customers!

roduct is the most important aspect of marketing mi/ for two mainreasons! Lirst, for manufacturers, products are the markete/pression of the companyCs productie capa"ilities and determineits a"ility to link with consumers! 2o product policy and strategyare of prime importance to an enterprise, and product decisionsdictate the scope and direction of company actiity! Moreoer, themarket indicators such as profits, sales, image, market share,

reputation and stature are also dependent on them! 2econdly, it isimperatie to realie that the product of any organiation is "oth acomponent and a determinant of the marketing mi/ as it has agreat influence on the other elements of the mi/# adertising,personal selling, channels of distri"ution, physical distri"ution andpricing! 2o without proper product policy, a company can notpursue for further elements of marketing mi/!

PRICING

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ricing is "asically setting a specific price for a product or sericeoffered! In a simplistic to the concept of price as the amount of money that customers hae to pay to o"tain the product! 2etting aprice is not something simple! 'ormally it has "een taken as a

general law that a low price will attract more customers! It is not aalid argument as customers do not respond to price alone= theyrespond to alue so a lower price does not necessarily meane/panded sales if the product is not fulfilling the e/pectation of thecustomers

4enerally pricing strategy under marketing mi/ analysis is diidedinto two parts# price determination and price administration $i"id%!

rice determination is referred to as the processes and actiitiesemployed to arrie at a price for a product including considerationof relatie prices of products within the same line, and differencesin price for similar products of differing grades and qualities!

rice administration is referred to as the actiities inoled in fitting"asic prices to particular sales situations such as geographiclocale, functions performed "y customers, position of distri"utionchannel mem"ers, or special sales situations!

PLACEMENT

lacement under marketing mi/ inoles all company actiities thatmake the product aaila"le to the targeted customer whileplanning placement strategy under marketing mi/ analysis,companies consider si/ different channel decisions includingchoosing "etween direct access to customers or inolingmiddlemen, choosing single or multiple channels of distri"utions,the length of the distri"ution channel, the types of intermediaries,the num"ers of distri"utors, and which intermediary to use "asedon the quality and reputation !

PROMOTION

romotional strategies include all means through which a companycommunicates the "enefits and alues of its products andpersuades targeted customers to "uy them ! The "est way tounderstand promotion is through the concept of the marketingcommunication process! romotion is the company strategy to

cater for the marketing communication process that requires

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interaction "etween two or more people or groups, encompassingsenders, messages, media and receiers

L$&$3a3$o% o" Ma5e3$%' M$4 A%al;!$! (*P! o" Ma5e3$%'/

Despite the fact that marketing mi/ analysis is used as a synonymfor the @s of Marketing, it is criticised on the point that it caterssellerCs iew of market analysis not customers iew! To tackle thiscriticism, attempted to match @ s of marketing with @ (s of marketing to address consumer iews#

roduct H (ustomer 2olutionrice H (ustomer (ostlacement H (onenienceromotion H (ommunication

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*.8. COMPETITORS

Big "aaar operates in a competitie enironment! Lor each line of "usiness, they face competition from esta"lished national and regional

companies! In the fashion segment, they pro"a"ly face competition from2hoppers 2top, Trent and 3ifestyle! The hypermarket "usiness isrelatiely new, "eing just a"out three to four years old in the country! Big"aaar faces competition from the likes of R4 $2pencerGs%, Trent $2tar India Baaar% and with 2hoppers 2top too indicating their entry into thehypermarket segment! In the Lood "usiness, Big Baaar facescompetition from 2u"hiksha, Lood 0orld to name a few!

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a. RPG GROUP 2pencer O (ompany3imited is another large retail group in the countrywithsupermarkets,music stores, and the

"eauty and health chainN)ealth O 4low!Lood world, operated "y Lood 0orld2upermarkets 3imited, while )ealthO4low "y the R4 4roup! It is alsolanning IF, will hae @.


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*.2. MAOR PROBLEMS

a! Retailing is in a rapid state of change due to speedytechnological deelopments, changing competitie positions,arying consumer "ehaiors as well as their e/pectations andli"eralied regulatory enironment! In such a scenario, informationis crucial to plan and control profita"le retail "usinesses and it can"e an important source of competitie adantage so long as it is

afforda"le and readily aaila"le!

"! In west, retail "usinesses hae "een the early adopters of Information Technology $IT%! As there is a need to capture accurateinformation and make it aaila"le not only within the store "ut sendit to warehouse, distri"utors and manufacturers in real time tomanage the short shelf life of some goods in grocery sector andcosts of inentory, aried D22 tools hae "een adopted "yorganied retailers! 1MIs& endor managed inentory systems,2canner at the counters& point of sales systems, RLID& radiofrequency identification, F3A $online analytical processing%,supply chain management systems, forecasting systems, (RM&customer relationship management systems, 7R& enterpriseresource performance system etc! are the tools used "y organiedretailers in deeloped nations!

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c! Most retailers collect and hae access to huge amount of data,collected from day to day operations e!g! customer loyalty data,retail store sales and merchandise data, demographic projectiondata etc! (urrently retailers are data rich "ut information poor!

There is a great potential to deelop systems that ena"le analystsand decision makers to manage, e/plore, analye, synthesie andpresent data in a meaningful manner for decisions!

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+. S3a3$!3$cal Tool! A%al;!$!

+.- SURVEY ANALYSIS.! Total people sureyed&9<

-! Total people who responded well&?-

a. S#=e;e: 6

.! Men# --

-! 0omen# +<

+! 8oungsters# .*

@! (hildren# *

! Fld aged# .-

Men 0omen 8oungs (hildern Fld age

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:. I%co&e 'o#@ 6

.!


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". I%:$ca3e ac3$=$3$e!)$%3ee!3! h$ch ;o# a%:)o ho#!ehol:&e&


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CONCLUSION FROM SURVEY ANALYSIS

a! Men and women "oth are responsie this shows that they haeinterest in the products either they "uy or not! They hae good

knowledge a"out the product they "uy!"! 0omen are ery careful a"out what they "uy "ut sometimesmen tend to ignore some of the features of product!

c! 0omen are more attracted and keen to know a"out theschemes, discounts, gifts, etc on product!

d! eople hae multiple life style and people hae interest inmusic, fitness, health, dieting, health food, itamin rich products,

and fashion clothing!e! 0omen, children, youngsters, aged people frequently make isitto stores!

f! eople of single family and apartment family are frequentcustomers!

g! eople of middle class and upper middle class are frequentcustomers and they spend good amount of their income!

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+.1 TREND ANALYSIS

a. ho o"3e% ;o# #!e: 3h$! @o:#c3


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CONCLUSION FROM TREND ANALYSIS

Trend analysis shows that consumption rate of the products wasgood, as the products were mainly daily used products! 7arlier the

rate of using of product was less in comparision, after the scheme!

+. CONOINT ANALYSIS

a. S3oe! ae co%=e%$e%3l; loca3e:6

.! 1ery 2trongly Agree# -<

-! 2trongly Agree# -*

+! Agree# -?

@! Disagree# .

ery strongly agree strongly agree agree disagree

<

,

.<

.,

-<

-,

+<

ery strongly agree strongly agree agree disagree


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!3o%'l; a'ee a'ee :$!a'ee

c. A 'oo: !elec3$o% o" @o:#c3! a! @e!e%3.

.! 2trongly Agree# -@

-! Agree#

+! Disagree# ..

!3o%'l; a'ee a'ee :$!a'ee

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:. (S3oe/ ha! 3he loe!3 @$ce! $% 3he aea6

.! 2trongly Agree# +<

-! Agree# @

+! Disagree# .

S3o%'l; a'ee A'ee D$!a'ee,

+

-,

-+

1,

1+

,

+

*,

*+

S3o%'l; a'ee A'ee D$!a'eeNo o" Pe!o%

e. Mecha%:$!e !ol: $! o" 3he h$'he!3 K#al$3;6

.! 2trongly Agree# -;

-! Agree# -

+! Disagree# .-

S3o%'l; a'ee A'ee :$!a'ee

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". Mecha%:$!e :$!@la;! ae a33ac3$=e6

.! 2trongly Agree# 9

-! Agree# ;9

+! Disagree# .-

2trongly agree Agree Disagree

-

1

*

+

8

2

S3o%'l; a'ee A'ee D$!a'eeNo.o" @e!o%

'. A:=e3$!e: &echa%:$!e a! $% !3oc56

.! 2trongly Agree# .@

-! Agree# ;?

+! Disagree# 9

S3o%'l; a'ee A'ee D$!a'ee

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h. O=eall, I a& =e; !a3$!"$e: $3h 3he !3oe6

.! 2trongly Agree#

-! Agree# +<

+! Disagree#

Strongly agree agree disagree

,

-,

1,

,

*,

+,

8,

S3o%'l; a'ee a'ee :$!a'eeNo.o" Pe!o%

$. I a& =e; !a3$!"$e: $3h 3he @$ce I @a$: "o ha3 I


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. I a& =e; !a3$!"$e: $3h 3he &echa%:$!e I


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S t r o n g l y

a g r e e

A g r e e

D i s a

g r e e

D i s a

g r e e

s t r o

n g l y

V e r y

s t r o

n g l y

d i s

a g r e e

,

+

-,

-+

1,

1+

,

S3o%'l; a'ee A'ee D$!a'ee D$!a'ee !3o%'l; Ve; !3o%'l; :$!a'eeNo.o" Pe!o%

l. P$ce a%: D$!co#%36

.! 2trongly Agree# .*

-! Agree# ;<

+! Disagree# .-

S3o%'l; a'ee A'ee D$!a'ee

&. Ho $%3ee!3e: o#l: ;o#


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! 7/tremely interested# <;! 'ot sure# .<

N o t

a t a l l

N e t u r a l

E x t r e

m e l y i n

t r e s t e d

,

+

-,

-+

1,

1+

,

+

*,*+

+,

No3 a3 all No3 = e; $%3ee!3e: Ne3#al So&eF ha3 $%3ee!3e: E43e&el; $%3e!3e: No3 !#eNo.o" Pe!o%

%. O=eall, ho $%3ee!3e: ae ;o# $%


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0

5

10

15

20

25

30

35

40

45

No3 a3 all $%3. No3 =e; $%3ee!3e: Ne$3he $%3 .%o #%$%3 So&eha3 $%3ee!3e: E43e&el; $%3e!3e:

No.o" Pe!o%

CONCLUSION FROM CONOINT ANALYSIS eople are satisfied with the store locations! There is good ratingin faour of atmosphere, dPcor and quality of product offered tocustomer in e/change of the reasona"le prices!

eople hae shown their keen interest towards the products inscheme! They say that for them any discount is good if the productis of their utility!

(ustomers are interested to "uy the products again and again of the scheme!

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8. GENERAL SURVEY AND CONSUMER BEHAVIORANALYSIS FOR THE NEW SCHEME OF PAC0 OF TWO

a. Do ;o# "$%: 3he cho$ce! $%


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':a;


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:. Ma''$ @e""ee: &o!36

.! Maggi noodle masala $+*


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&3


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'estle chocolates 5it 5at of +@g, 99g were in good demand!

Red la"el tea nature care ct -Q-


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7. BIBLOGRAPHY

BOO0S

5FT37R )I33I,57337R 5731I'Marketing Management, ataparganj, Delhi, Dorling5indersley$India%t!3td , -


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. ANNETURE

A%%e4#e

26R178 672TIF''AIR72

.! Tick the age group you fall in#&

a! women

"! children

c! youngsters

d! men

e! old age

-! Does the "ig "aaar match consumer e/pectation or are they just making empty promisesK

a! yes

"! no

+! Marital status#&

a! married

"! unmarried

@! Fccupation#&

a! students

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"! "usiness

c! serice

d! others

! Income group#&

a!


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"! agree

c! disagree

9! 0hat a"out store enironmentK

a! ery good

"! good

c! aerage

.

a! strongly agree

"! agree

c! disagree

..! 0hat do you think a"out quality of the productsK

a! ery good

"! good

c! aerage

.-! Do you like the way products are displayedK

a! ery attractie

"! attractie

c! aerage

.+! )ow do you come to know a"out the schemesK

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a! reference group

"! newspapers

c! sales promotions

d! pamphlets distri"uted

e! paging in store

.@! Are you satisfied with the products in storeK

a! yes

"! no

c! no comments

.! Are you happy with the schemes and discountsK

a! strongly agree

"! agree

c! disagree

.;! )ow much interested are you in using productsK

a! not at all interested

"! not ery interested

c! neutral

d! somewhat interested

e! not sure

.?! 0hich of the following product you like to takeK

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a! Britannia g&day "utter

"! Britannia g&day cashew

c! Britannia g&day pista

d! Britannia jim& jam

e! Britannia cream treat "our"on

.*! AR37 RFD6(T2#&

.! arle hide n seek choco chips$-


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-! MTR dessertmi/ gula" jamun mi/$-


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?! 3ite spread tu"$-


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