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8/8/2019 Dolly Assingment

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A STUDY OF PERCEPTION OF VENDORS ABOUT THEIR

BUSINESS IN AROUND LPU

Abstract

Describes a study designed to know the vendors perceptions about their business in o LPU.

The study sample comprised 30 vendors. A comprehensive profile analysis and a survey are

conducted to reveal key characteristics and patterns: the majority of vendors are well

establishing in LPU. They are satisfied with their business, because of favourable policies of

LPU for their business. They tell their earning are more here than that of outside in LPU.

INTRODUCTION

Perception refers to the way we try to understand the world around us. We gather information

through our five sense organs, but perception adds meaning to these sensory inputs. The

process of perception is essentially subjective in nature, as it is never an exact recording of

the event or the situation. The process by which an individual selects, organises, and

interprets into a meaningful and coherent picture of the world. Perception is the process by

which we organize and interpret our sensory impressions in order to give meaning to the

environment. As pointed out, a situation may be the same but the interpretation of that

situation by two individuals may be immensely different. Perceptions vary from person to

person. Different people perceive different things about the same situation. But more than

that, we assign different meanings to what we perceive. And the meanings might change for a

certain person. One might change one's perspective or simply make things mean something

else. Think of it as the process of becoming aware of the world around you through your

senses. Our senses play a critical role in perception and behaviour. They not only allow us to

perceive our environment, they also enable you to act in response to it.

DEFINITION

Perception is the set of processes by which an individual becomes aware of and interprets

information about the environment.

Perception is the way an individual understands and perceives a concept. This may be

anything ranging to a piece of art, to company terms and services. Furthermore, each

individual has a different perception of the world and the things in it. The study of divergence

between individuals' perception is an important area of study within an organization, and

relates to human relations and organizational behaviour.

VENDOR PERCEPTION

In todays globalising economy competition is getting more and more. That means it

becomes more difficult for vendor to differentiate themselves from other offerings than ever

before. Not only is the number of competitive offerings rising due to globalisation of

production, sourcing, logistics and access to information. Many products and services face


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new competition from substitutes and from completely new offerings or bundles from shops

outsiders. Since product differences are closed at an increasing speed and many vendors try

to win the battle for customers by price reductions, products and services tend to become

commodities.

The consequence for vendor is that they have to adapt their ways of competing for customers.

Traditionally, vendors have focused their efforts of customer relationship management on

issues like customer satisfaction and targeted marketing activities like event marketing, direct

marketing or advertising. Although doubtless necessary and beneficial, these activities are not

longer enough. They narrow the relationship between vendors and customer down to a

particular set of contacts in which the vendors invests its efforts. Most likely this will produce

not more than a satisfied customer who is well aware of the products offerings and has a

positive attitude towards them. However, a satisfied customer is not necessarily a loyal one.

If a customer is satisfied that means that a product of service has met his expectations and

that he was not dissatisfied by it. Customer satisfaction is doubtlessly very important. It is the

precondition for repeat purchases and it prevents the customer from telling others about his

disappointing experiences. A loyal customer, however, is more than a customer who

frequently purchases from a vendor.

OBJECTIVES

1. To study current scenario of businesses (vendors) operating in LPU.

2. To study the factors affecting the business of vendors in LPU.

RESEARCH METHODOLOGY

Research Design

Research is descriptive in nature.

Data is collected through primary as well as secondary method. In Primary Data surveythrough structured questionnaire and was filled by 30 respondents of LPU. Secondary data

was collected through internet.

Sample Design

Data collection method

Convenience sample

Sample size

30


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Sample universe

Lovely professional University

Data analysis

Data analysis will be done by making pie charts, graphs and tables.

LIMITATIONS

There are limitations in this study because we are not able to collect the data of big numbers

of respondents (vendors). Vendors did not want to give information accurately about their

incomes and they didnt give accurate perception about their business in LPU. Secondary

data taken from websites and documents, which may not be correct or manipulated/distorted

by someone. Every vendor dont have uniform interest during answering of questionnaire

Q1. TIME DURATION OF BUSINESS IN LPU.

INTERPETAION

From the above chart analysed that 40% of vendor there in LPU from less than 1 year and

20% respondents there in LPU from last 1 year. The pie chart shows that 20% vendor there in

LPU from last 2 years and 10% vendors there in LPU from 3-4 years.


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Q2.Rate your business in LPU.

VERY GOOD

6

GOOD 20

AVERAGE 4

BAD 0

VERY BAD 0

INTERPETAION

From the above pie chart shows that 67% of vendors happy in doing business in

LPU and 20% respondents very happy in LPU. Overall everyone happy but no

one says bad or very bad. So the amount of business doing in LPU good.


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Q3. Rate your profitability to do business in LPU.

INCREASI

NG 20

STATIC 4

DECREASING 6

INTERPETAION

In this pie chart 67% vendors says their business profits increasing and 13%

says their business profits not increasing and not decreasing.

Q4. Type of Business.

BEVERAGES 4

FAST FOOD 20

STATIONARY 3

DEPARTMENTALSTORE 1


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INTERPETATION

From the above pie chart 67% vendors provide their services in fast food and

13% provide beverages services. 13% provides stationery services.

Q5. Products more demanding in LPU shops.

BEVERAGE

S 6

FAST

FOOD 18

PACKEDFO

OD 2

MEAL 4

INTERPETATION

As per the field study conducted on vendors it is seen that most demanding in

LPU among student is fast food and second highest demanding is beverages.

Q6. Monthly earnings.


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LESS THAN 5000 4

5000-10000 2

10000-15000 15

15000-20000 4

MORE THAN

20000 5

INTERPETATION

From the above pie chart shows that 50% of vendors monthly earning lies

between 10,000-15000 and 5% shows more than 20,000 per month earning.

Chart also shows 13% vendors monthly earning less than 5,000.

Q7. Inspire to set up business in LPU.

FRIENDS 3

RELATIVES 0

ADVERTISEMENT 5

YOUR OWN

DECISION 19

OPINION LEADERS 3


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INTERPITATION

From the chart this is very clear that the decision of set up business in LPU of

vendors are highly (63%) inspire from their own decision and 10% vendors are

inspired by friends & opinion leaders.

Q8. Factors influenced to set up business in LPU.

HUGE CUSTOMER 20

NEAR TO HOME 2

REVENUE/PROFIT

MARGIN 6

FAVORABLE POLICIES 2


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INTERPETATION

The above graph shows that 20% vendors influence by huge customers and 6%

vendors influence by revenue/profit margin. This shows that only 2%

respondents influence by near to home and favourable policies of LPU.

Q9. Nature of contract in LPU?

INTERPITATION

The pyramid clearly shows

that in LPU nature of

contract is monthly rent.

30% vendors say they pay

monthly rent to LPU.

Q10. Rate the policies of LPU.

FAVOURA

BLE 28

MODERATE 2

AGAINST 0

MONTHLY RENT 30

YEARLY RENT

FIXED CONTRACT

VARIABLE CONTRACT


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INTERPETATION

The above graph shows that 28% says the policies of LPU are favourable for

their business and 2% says policies of LPU are moderate. Its clearly shows that

no one is against.

Suggestions

After completion of project on PERCEPTION OF VENDORS ABOUT THEIR BUSINESS

IN AROUND LPU I would like to give suggestions so that the vendors. They can meet the

customer satisfaction and provide them service quality by taking following measures-


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Q2. How do you rate business in LPU?

Very good Good

Average Bad

Very Bad

Q3. Rate the profitability to do business in LPU?

Increasing Decreasing

Static

Q4. What type of Business you do?

Beverages Stationary

Fast food Photo state

Packed food Departmental store

Q5.Which products are more demanding in your shop?

Beverages Fast food

Packed food Meal

Q6. How much is your monthly earning?

5000-10,000 10,000-15,000

15,000-20,000 20,000-25,000

more than 25,000


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Q7. Who inspire you to set up business in LPU?

Friends Relatives

Advertisement Your own decision

Opinion leader

Q8. What factors influenced you to set up business in LPU?

Huge customer/ student base Favourable Policy of LPU

Proximity/near to home Revenue/Profit margin

Q9. What is nature your of contract with LPU ?

Monthly rent Fixed contract

Yearly rent variable contract

Q10. Rate the policies of LPU for your business?

Favourable Moderate

Against/ hindering


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