part a of final report venus

8/8/2019 Part a of Final Report Venus

1/46

PART-A

AN INTRODUCTION

The promoter of the Group, Mr. Anil Kumar Jain belongs to Duke family who made a

humble beginning in the garment line in 1967. The group took major initiatives in

popularizing knitted garments in India.

Mr. Anil Jain, known for his sound technical knowhow, Flexibility and administrative

skills. who is doing indirect export since 1972, made dent in the export market in the early-

nineties. With his vision and abilities Venus Garments (India) Limited has grown into a

reputed 3 Star Export House within a short span & competes with the best in the world.

The company is now the largest exporter of knitted garments in Ludhiana - the textile hub of

India. They have been selected as a Wal-Mart Global Procurement Supplier of the Year

2007.

Today they are one of the Indias leading manufacturer and exporter of knitted garments with

over Rs. 230 Crores (US$ 58 million) turnover.


2/46

Venus Garments (India) Limited stands for reliability and quality in services as well as

products. There Process House is ISO 9001: 2000 certified. Single-minded commitment to

quality is reflected in their reputed clientele that has been with them over a period of time.

1.1 Company profile

Basic information

Company Name: Venus Garments India Limited

Business Type: Manufacturer

Product/Service: T-shirts, sweaters, loungewear

Address: GT Road ,Near Jallandhar Bypass

Number of Employees: 6000 Employees

Company Website URL: http://www.vgil.com

Ownership and capital

Year Established: 1982

Legal

Representative/Business

Owner:

Anil jain

Trade and market

Main Markets: North America

Total Annual Sales

Volume:

US$10 Million - US$50 Million
http://www.vgil.com/http://www.vgil.com/


3/46

Factory information

No. of R&D Staff: 11 - 20 People

Contract Manufacturing: OEM Service Offered

Names of group companies

UV&W Products Limited

Glaze Garments (India) Limited

Venus Cotsyn (India) Limited

1.2 Corporate Philosophy

Creation of unique corporate management system and culture is enabling us to become a role

model of worldwide respect and trust. The company corporate philosophy is based on the

following principles:

Credibility, integrity and honesty

Straightforward business dealings

Work as a worship

Spirit of social and human respect

Genuine Price, Genuine Discount Approach

Other important things which come under its business philosophy:-

Firm faith in customer delightedness through best quality products and services at

affordable prices.


4/46

Integrated diversification and product development and constant evaluation of

customer needs with steady business growth.

Continuous up gradation of technological development and human skills and believes in

TOTAL QUALITY MANAGEMENT

Mission statement - To achieve the perfect balance between technology, system and

human resource, so as to become largest garment exporter of the country, while providing

services that meet the quality, performance and price aspirations of client.

1.3 THE PORTFOLIO

The Venus group produces for mens, boys, girls, baby boys, baby girls, and infants

,

T-shirts

Jackets

Sweaters

Track suits

Sweatshirts

Shirts

Trousers

Denims

Lowers

Bermudas


5/46

Thermal Wears

Accessories

1.4 MAJOR BUYERS OF VENUS


6/46

1.5 Venus quality control

1.5.1 FABRIC QUALITY CONTROL


7/46

Yarn can enter in there yarn stores only after passing all the tests. There quality controllers

devote their full energy at each step of yarn dyeing, knitting, fabric dyeing and processing.

100% fabric is checked and inspected as per the 4 point system.

In garment units fabric is inspected at random for GSM, shrinkage etc. in separate labs of

there garment units.

1.5.2 GARMENT QUALITY CONTROL

100% garments are being checked at the stage of cut panels, then at each critical process in

stitching line, after that again 100% on completion of stitching, and finally again 100% at the

time of finishing.

After the processing the goods at each stage apart from final audit prior to offering the

shipment to buyers QC on machines and finishing, Garments are offered for inspection only

if it passes Buyer standard.

There Process Plant is ISO certification Unit.

1.6 Venus Quality Policy:

Venus strives to achieve total customer satisfaction by providing best quality garments at

competitive prices. For this purpose, continual improvements in our policy are made

through:

Developing new designs and shades as per changing market trends.

Maintaining strict quality standards.

Providing training on skill improvement and motivational aspects to all concerned.

1.7 Venus Quality Objectives:

To measure, monitor and enhance customer satisfaction and product qualitystandards.

To measure and control rejections, waste and process efficiencies in order to maintain

competitive prices.


8/46

To develop new styles and shades of garment as an ongoing process to suit changing

customer tastes.

To train employees at all levels to inculcate motivation towards quality.

1.8 DEPARTMENTS IN VENUS:

Production Department

Production Planning and Control Department

Knitting Department

Sampling Department

Personnel Department

Marketing Department

Advertising Department

Franchisee Department

Accounts Department

Engineering Department Purchase Department

1.9 PRODUCTION DEPARTMENT:

In the Production Department, There are production managers who guide the members in a

team of 3-4 persons. Production is linked with the knitting, dyeing, cutting, stitching, and

finishing. Production file is prepared where all the details related to production are

mentioned. Production is done according to the time & action plan set up by the Production

Planning & Control Department.


9/46

1.10Marketing Department :

The basic functions of this department are:-

Prepares proposal and gets it approved from head and sends proposal to designing

department for the approval.

Bookings in hotels for parties with distributors after calling concerned parties and

gets order from parties and entered in system.

To coordinate with production, planning and quality control heads to achieve the

maximum cost effectiveness and preparation and execution of short term and long

term plans and strategies to achieve the organizational objectives.

Building and maintaining a strong and highly motivated distribution network to

ensure the achievements of profitability targets assigned by the management by

motivating the staff for better resource utilization.

1.11 FRANCHISE DEPARTMENT:

Venus entered in its own retail in 2002 through opening Franchised Exclusive Brand Outlets

and Multi Branded Outlets in various parts of India. At present, Venus has 17 Exclusive

Brand Outlets and 110 Franchised Stores in India.

The basic functions of this department are:-

Supply Chain Management and takes feedback from market on periodic basis and

decides to makes promotional schemes and monitor that promotional schemes such

as discount offers are common all over India.


10/46

To show ready stock available to parties and makes it available to party according to

their choice and gives special discount to special customers but firstly the party

should get approval from the management.

To tally their records with accounts department and ensure that proper bills are cut

by doing cross verification and completely control the Retail/ Exclusive trade.

Material left at the seasons end will be brought back and will issue them new

seasons material by giving them instructions that the goods left should be returned

till the date fixed by the department.

\


11/46

1.12 SWOT ANALYSIS OF VENUS GARMENTS

Strength

Low prices

Wide product line

Designing and quality

Weakness

Ineffective promotional offers

Improper visual merchandising

Opportunity

Entering into new product line that could be accessories.

Providing membership schemes.

Seasonal gift vouchers.

Threats

Already big existing brands.

Mind set of people about Venus is that it is an export surplus that is affecting

sales.

Changing market demands and style statement of youth.


12/46

Chapter 2

Financial Analysis

2.1 Current ratio

2008-09 2007-08 2006-07

Current Assets 245333788 216250915 180318610

Current Liabilities 11490193

5

87565821 53323792

Current Ratio 2.13515802 2.46958131 3.381578902

Analysis currents ratio depicts that company holds good liquidity position in the

financial year 2008 and 2007. But in year 2006-07 the currents ratio is more then

standard ratio. Company must see towards it as it shows more current assets over

current liabilities. It should not be more then standard 2:1.

2.2 Quick Ratio

2008-09 2007-08 2006-07

Quick Assets 155444280 134994687 112907943

Current Liabilities 114901935 87565821 53323792


13/46

Qucik Ratio 1.352843013 1.54163674 2.117402735

A quick ratio of 1:1 is considered as acceptable. A higher ratio of the concern ensures theability of the firms quick assets to meet its current liabilities.

2.3Absolute liquid ratio

2008-09 2007-08 2006-07

Cash & bank 8476326 4798156 4111200

Current Liabilities 114901935 87565821 53323792

Absolute liquid ratio. 0.073770089 0.05479485 0.077098793

The acceptable standard for this ratio is 0.5:1.

2.4 Net profit ratio

2008-09 2007-08 2006-07

Net Profit 47461660 29364766 20766814

Sales 829932808 68473308 48502775


14/46

9 5

Net profit Ratio 5.718735245 4.28849817 4.28157229

9

Analysis net profit ratio is increasing throughout this shows company holds good financial

position.

PART - B

Chapter- 1

1.1 Introduction To Brand

A brand is the personality that identifies a product, service or company (name, term, sign,

symbol, or design, or combination of them) and how it relates to key constituencies:

Customers, Staff, Partners, Investors etc.

Brand Awareness

Brand awareness refers to customers' ability to recall and recognize the brand under different

conditions and link to the brand name, logo, jingles and so on to certain associations in

memory. It helps the customers to understand to which product or service category the


15/46

particular brand belongs to and what products and services are sold under the brand name. It

also ensures that customers know which of their needs are satisfied by the brand through its

products.(Keller) 'Brand love', or love of a brand, is an emerging term encompassing the

perceived value of the brand image. Brand love levels are measured through social media

posts about a brand, or tweets of a brand on sites such as Twitter. Becoming a Facebook fan

of a particular brand is also a measurement of the level of 'brand love'.

1.2 Overview Indian Ready Made Apparel Market

Despite substantial growth, comparing to the international readymade garment market the

Indian readymade garment market is still in a budding phase. Due to the higher the

introduction cost of brand in India for the foreign players, domestic players have no fear of

any outside competition. The main obstacle to the organized players is the huge unorganized

scenario of the market. In a move to compete, the organized players have rolled out their

own strategy of standardizing the goods.

The brands introduced by these major textile players hold much intrinsic power and high on

quality and pricing factors. They present the inheritance and constancy in the garment piece.

Siyaram's is venturing into readymade garment to grip the continuously changing fashion

trends. It is becoming a prominent designer of mens readymade garments and accessoriesfrom fabric manufacturer. The two major unique selling points of the recently launched

Siyaram's brand, Monday to Sunday Dressing would be the widespread 30,000 retail outlets,

where it is selling fabrics and second, the fabric quality that Siyaram's has, which guarantees

that the buyer gets the high quality at a cheaper price. In accordance of its venture into men's

readymade clothing line, Siyaram's Monday to Sunday Dressing would include casuals,

semi-formals, formals, club wear in the middle and premium segments, targeting the youth.

At first the Monday to Sunday Dressing line would be introduced in Southern and Western

India, and would be sold through its retail outlets. The leader in the suiting segment, S.

Kumars Nationwide Limited (SKNL) is the newest to join the rat race. It has launched a

brand, "Belmonte the exclusivity of the brand is that it is only brand in the economy section,

which brings both fabric and readymade garments under single label. The brand has been

targeted towards the young group. The brand offers a wide range style with perfect fitting.


16/46

The other growing strategy major textile players adapted is Acquisition. Many of

companies have

used this strategy to dive into readymade garment segment. Raymond's acquired ColorpIus

to jump in casual-wear, adding brands like Raymonds, Parx and Park Avenue. Opting the

similar strategy, Indian Rayon acquired garments division of Madura Coats,

Madura Garments and entered the luring apparels market with the successful brands like

Van Heusen, Allen Solly, Peter England and Louis Philippe. Textile leader, Bombay Dyeing

also gets hold of Proline to dive in the sportswear segment, as well as adding

Vivaldi range to its formal menswear. The above initiatives taken by the major brands

depicts that the textile players now started opting strategies to mark their presence in the

readymade garment segment. Their sheer benefits laze in substantial production capacities,

which can launch new products in minimum lead-time, offering high quality.

1.3 Retailing

Retailing consists of the sale of goods or merchandise from a fixed location, such as a department

store, boutique or by post, in small or individual lots for direct consumption. Retailing may include

subordinated services, such as delivery. Purchasers may be individuals or businesses. In commerce, a

"retailer" buys goods or products in large quantities from manufacturers or importers, either directly

or through a wholesaler, and then sells smaller quantities to the end-users. Retailers are at the end of

the supply chain. Manufacturing marketers see the process of retailing as a necessary part of their

overall distribution strategy.

1.4 Organized Retailing


17/46

Organized retailers are the contemporary formats by which shoppers have the edge of a world class

shopping experience. Fine examples of these formats are Pantaloon, Shoppers Stop etc. Organized

retail may broadly be classified into the following formats:-

MallsThis is the largest form of organized retailing today. Malls are located mainly in metro cities,

in proximity to urban outskirts, this format ranges from approximately 60,000 sq ft to

7,00,000 sq ft and above.

Hypermarkets

These are also large, starting from 40,000sq. ft plus are usually located outside the city

limits. This format comprises of a multiple division layout, and usually has an industrial-look interior. Hypermarkets generally provide daily necessities and grocery like items.

Pricing is competitive and they also offer volume discounts.

Super Markets

Large self service outlets, catering to varied shopper needs are termed as Super markets.

These are located in or near residential high streets.

Discount Stores

As the name suggests, discount stores or factory outlets, offer discounts on the MRP through

selling in bulk reaching economies of scale or excess stock left over at the season. The

product category can range from a variety of perishable/ non perishable goods.

Exclusive Store

Ranging from a size of 500 sq ft to 5,000 sq ft. & above, this format is owned/ managed by

the company or through its franchise. These can offer single brand as well as multiple bands.

Specialty Store


18/46

These formats focus on a specific product category, medium sized layout in strategic

location. Specialty stores provide a large variety base for the consumers to choose from.

CHAPTER-2

2.1 Review of Literature

A literature review is a body of text that aims to review the critical points of current

knowledge including substantive findings as well as theoretical and methodological

contributions to a particular topic. Literature reviews are secondary sources, and as such, do

not report any new or original experimental work.

Most often associated with academic-oriented literature, such as theses, a literature review

usually precedes a research proposal and results section. Its ultimate goal is to bring the

reader up to date with current literature on a topic and forms the basis for another goal, such

as future research that may be needed in the area.

Maria Madalena Pereira (2008)

Consumer behaviour research is the scientific study of the processes consumers use to select,

secure, use and dispose of products and services that satisfy their needs. Firms can satisfy

those needs only to the extent that they understand their customers. The main objective of

this paper is to study the gender differences in consumer buying behaviour of a Portuguese

population when they go shopping to buy apparel products. To attain this objective a survey


19/46

was developed and administered across Portugal. The findings confirm the differences

between women and men especially in terms of What, Where, When, and How they buy.

Ceciilia karlsson Sandra palmer (2007)

The aim of this research has been to explore, describe and begin to explain the phenomenon

of Event Marketing (EM). The purpose of the thesis is to provide a better understanding on

how firms use EM as a promotional tool. In order to reach this purpose, research questions

were stated focusing on the objectives and types of EM used today. Based on these research

questions, a literature review was conducted, resulting in a conceptual framework. This

framework then guided the data collection. Methodologically, a qualitative, single case study

approach was used, with data being collected from two sub-units, namely Guinness and

Maly's, two firms involved in consumer marketing and both are organizations that use event

marketing. The findings indicate that the two most important objectives with EM is creating

awareness, both regarding the corporation, brand and product together, as well as to establish

and maintain relationships. We have also found that there is somewhat of a lack of

knowledge in the companies regarding the types of events they actually use. This can lead to

events that could have been suitable for these companies were not utilized. It is also

important for both objectives and type of events to be in congruence with the corporation,

product and brand. Finally, better methods for measuring and evaluating the outcome of EM

are needed to provide a better understanding for EM amongst the companies.

Mike Nicholson Sarah Hong Xiao (2007)

The consumer behaviour analysis research programme continues to develop as both an

intellectual discipline and an applied area of empirical inquiry, enriching our understanding

of consumer responses to the products and services of everyday life, and to the marketing of

those products and services. To date, however, the programme has functioned largely at an

ontogenetic level, developing proximate-level accounts of consumer choice based upon

operant learning at the expense of any meaningful engagement with the more ultimate-level


20/46

accounts of such phenomena offered by adoption of a more phylogenetic perspective. In an

attempt to address this potential gap in current knowledge, this paper introduces the central

tenets of neo-Darwinian theory and their relevance for the consumer behaviour-analytic

programme. More specifically, the paper seeks to apply adaptionist logic to the Behavioural

Perspective Model, the principle explanatory framework within consumer behaviour

analysis, in order to demonstrate how the hypotheses generated by that framework may gain

greater conceptual clarity and empirical precision through accommodation of both ontogeny

and phylogeny within its sphere of reference.

Ellen Garbarino and Mark S. Johnson ( 1999)

Several theories of relationship marketing propose that customers vary in their relationships

with a firm on a continuum from transactional to highly relational bonds. Few empirical

studies have segmented the customer base of an organization into low and high relational

groups to assess how evaluations vary for these groups. Using structural equation analysis,

the authors analyze the relationships of satisfaction, trust, and commitment to component

satisfaction attitudes and future intentions for the customers of a New York off-Broadway

repertory theatre company. For the low relational customers (individual ticket buyers and

occasional subscribers), overall satisfaction is the primary mediating construct between the

component attitudes and future intentions. For the high relational customers (consistent

subscribers), trust and commitment, rather than satisfaction, are the mediators between

component attitudes and future intentions.

Kristy E. Reynolds, and Sharon E. Beatty (1999)

University of Central Florida, USA

Building customer relationships is a top priority in many firms. This study examines the

benefits customers receive from relationships with clothing/accessories salespeople. We

found that relationship benefits are positively associated with satisfaction, loyalty, word ofmouth and purchases. Implications and directions for future research are given based on

these findings.


21/46

Hospitality Research Journal (1997)

There is a desperate need for new research that will advance customer satisfaction (CS) and

service quality (SQ) methodologies in the hospitality industry. This comprehensive review of

the theories and methodologies reported in CS and SQ studies cited in the hospitality

literature provides suggestions for future CS and SQ research in the hospitality field. First,

the theoretical and methodological issues are critically reviewed. Next, major developments

in CS and SQ research methodologies are discussed. The concept of importance and its role

in behavioural models are included as they have been recently applied in hospitality CS and

SQ research. The final section of this study is devoted to developing and proposing new

directions for future CS and SQ research in the hospitality industry.

Cathy J. Cobb-Walgren, Cynthia A. Ruble and Naveen Donthu (1995)

The issue of brand equity has emerged as one of the most critical areas for marketing

management in the 1990s. Despite strong interest in the subject, however, there is little

empirical evidence of how brand value is created and what its precise effects are. This study

explores some of the consequences of brand equity. In particular, the authors examine the

effect of brand equity on consumer preferences and purchase intentions. For comparative

purposes, two sets of brands are tested, one from a service category characterized by fairly

high financial and functional risk (hotels), and one from a generally lower risk product

category (household cleansers). Each set includes two brands that are objectively similar

(based on Consumer Reports ratings), but they have invested markedly different levels of

advertising spending over the past decade. Across both categories, the brand with the higher

advertising budget yielded substantially higher levels of brand equity. In turn, the brand with

the higher equity in each category generated significantly greater preferences and purchase

intentions.

Kevin Lane Keller ( 1993)


22/46

The author presents a conceptual model of brand equity from the perspective of the

individual consumer. Customer-based brand equity is defined as the differential effect of

brand knowledge on consumer response to the marketing of the brand. A brand is said to

have positive (negative) customer-based brand equity when consumers react more (less)

favorably to an element of the marketing mix for the brand than they do to the same

marketing mix element when it is attributed to a fictitiously named or unnamed version of

the product or service. Brand knowledge is conceptualized according to an associative

network memory model in terms of two components, brand awareness and brand image (i. e.,

a set of brand associations). Customer-based brand equity occurs when the consumer is

familiar with the brand and holds some favorable, strong, and unique brand associations in

memory. Issues in building, measuring, and managing customer-based brand equity are

discussed, as well as areas for future research.

S. Folkes The Journal of Consumer Research, Vol. 14, No. 4 (1988),

Recent consumer behavior research testing attribution theory principles is summarized and

critiqued. Most studies on antecedents of causal inferences focus on how information about a

product influences attributions, how the discounting effect influences liking for products, and

how self-perception processes influence willingness to participate in marketing research.Research examining consequences of causal inferences focuses on product satisfaction.

Major trends in attribution theory and future research directions are indicated


23/46

CHAPTER-3

Research methodology

Research methodology is a careful investigation or enquiry in a systematic manner and

finding solution to a problem in the research. This chapter describes the research methodlogy

adopted to achieve the objectives of study. It includes the scope of study, collection of data,

analysis of data and limitations of the study.

TITLE:-

BRAND AWARENESS AND CUSTOMER PERCEPTION

(A CASE STUDY ON VENUS FACTORY OUTLETS IN LUDHIANA)

Objectives of the study

To study the awareness of venus brand among people of ludhiana .

To find out the factors affecting buying decisions of venus products.

To find out satisfaction level of customer towards venus products

Scope of study

The scope of study is to test the awareness and customer perception of venus brand in its

home location at Ludhiana. This is basically to test the brands synergy with its local population which includes brand awareness, strength, consumer perception, and their

behaviour.

Research design


24/46

The research design is an arrangement of condition for collection and analysis of data in

manner that aims to combine relevance to the research purpose with economy in procedure.

The research problem in clear cut terms helps the researcher to prepare a research design. It

constitutes the blueprint for the collection, measurement and analysis of data. It is strategy

for a study and the plan by which the strategy is to be carried out. The research carried down

is descriptive in nature.

Data collection

Primary research

Primary data is that data which is collected for the first time. It is original in nature in the

shape of raw material. For the purpose of collection of primary data, a well structured

questionnaire was gives to the respondents and they were personally interviewed to fulfil the

objectives of the study. The questionnaire comprises of close ended and open ended

questions

Secondary Data

Secondary data is the data which is already collected by someone. They are secondary in

nature and are in shape of finished product. Secondary data was collected so as to have

accurate results and the required data was collected from various journals, magazines, and

internet to gather relevant information about the company.

Sampling Design

Sampling refers to selecting some of the elements in a population by which one can draw

conclusions about the entire population.

Universe

Universe is the infinite number of elements which the researcher is targeting in his study.

Here the universe for the study consists of all the customers of readymade garments.

Population


25/46

Population is finite number of elements which the researcher is going to target in particular

area. Here the population is all the customers of readymade garments in Ludhiana.

Sampling unit- any single customer of readymade garments has acted as my sampling

unit.

Sampling Technique

The selection of the respondents was done on basis of convenience and judging them on

demographics so sampling used is Convenience and judgemental.

Sample size

Sample size is the size of sample drawn from the population which is the true representatives

of the research. The number of respondents includes in the study was 100 for convenience in

evaluating and analyzing the data and because of the constraints.

Limitations of the study

Any study based on consumer survey through questionnaires suffers from the basic

limitation of the possibility of difference between what was recorded and what was the truth

no matter how carefully the questionnaire had been designed and field investigation had been

conducted. This was because the consumers may not deliberately report their true

preferences and even if they want to do so, there were bound to be differences owing to

problems in filters of communication process. The error had been tried to be minimized by

conducting interviews personally yet there was no fool proof way of obviating the possibility

of error creeping in.


26/46

In addition there were limitations regarding scope of validity of conclusions:

Observation is confined to Ludhiana only.

Many documents and information which would make this project better is not

available as they are highly confidential and not available as per the rules and

regulations of the company.

The data which is collected from respondents is through questionnaires and is

subject to individual biasness.

CHAPTER-4

DATA ANALYSIS & INTREPRETATION

Introduction

Data collection is the systematic recording of information; data analysis involves working to

uncover patterns and trends in data sets; data interpretation involves explaining those

patterns and trends.

Scientists interpret data based on their background knowledge and experience, thus different

scientists can interpret the same data in different ways.

By publishing their data and the techniques they used to analyze and interpret that data

scientists give the community the opportunity to both review the data and use it in future

research.

Table No. 4.1 Distribution of respondants on the basis of age group

N=100

no. of

response

s

%ag

e


27/46

40years 17 17

Analysis - 63% of the respondents lies in age group of 20-40 years, And 20% lies in 15-20

years of age group, only 17% lies in age group above 40 years.

Table No. 4.2) Distribution of respondents on the basis of gender

N=100he basis of g

no. of

respons

es

percenta

ge

a)male 60 60

b)female 40 40

Analysis results shows that. 60% of respondents are male and 40% are females.

Fig no. ( 4.3) preference of branded garments


28/46

Analysis- above table depicts that 94% of respondents actually wear branded garments only 6% of

respondents do not wear branded garments.

Interpretation results shows that people of Ludhiana are more into brands these days. And

prefers branded over non-branded garments.

Fig no (4.4a) Most Recalling BRANDs by respondents

Analysis - The above figure depicts that out of all the Brands which are recalled , 31% respondents

recalls levis brand and 25% of respondents recalls spykar and 14% recalls other brands.

Interpretation result shows above brands are the most recalling and preferred by the respondents.

Fig no. (4.4B) Attracting features of recalling brands

N=100

no.of

responses

percentage

a)pricing 12 12

b)designing 67 67

c)brand image 18 18

d)celebrity/brand

ambassadors

3 3


29/46

reason s for recall

010203040

50607080

a)pricing

b)designing

c)brandimage

d)celebrity/brand

ambassadors

percentage

percen

Analysis out of 100 responses 67% goes for designing and 18% for brand image , 12% for

pricing and only 3% of respondents for celebrity/ brand ambassadors.

Interpretation result shows that most attracting feature of recalling brands is designing and

least preference is given to celebrity endorsements.

Table no (4.5) customers of recalling brands

N=100

No. of responses percentage

Yes 96 96

No 4 4


30/46

Analysis 96% of respondents are customers of recalling brand and only 4% respondents are

not the customers of that brand.

Interpretation about recalling brand 96% respondents were actually customer of that

particular brand only, but the rest 4% are just recall and prefer them but not the actual

customers of that Brand.

Fig no (4.6) Features that attract the customers most for the above mentioned brands

N=100

Analysis - The above table shows that styling is the attribute which is most preferred and

quality is preferred so, discounting and brand image is not much importance if the garments

suits the customer .

Interpretation today people are more into styling and are more quality conscious they do

not compromise on these attributes. Discounting and brand image is secondary for people

today.

Fig no.(4.7) preferred location for purchasing branded garments

(n=100)

Analysis The above chart depicts that 72% of respondents prefer to shop in shopping

malls , 21% of respondents prefer exclusive branded shops and only 7% respondents shop

from its neighborhood stores.


31/46

Interpretation results shows that shopping malls are the main preference of the customers

for shopping these days in Ludhiana.

Fig no. (4.8) awareness of venus brand

Analysis above chart depicts that 91% of respondents are aware of venus brand only 9% of people

are not aware

Interpretation results shows that venus brand now days is gaining popularity .


32/46

Fig no. (4.9) channel of awareness

Analysis The above chart depicts that out of total, 69% are aware of the brand through banners

/hoardings and 19% are through showrooms location and 12% through magazines/newspapers.

Interpretation results shows that banners/hoardings are the main source of awareness. Showroom

locations and advertisements on magazines and newspapers play less role in making people aware

about brand.

Fig no. (4.10) Customers of venus

Fig no. (4.11)

Analysis above charts shows that 76% of the respondents are customers of venus stores and 24%

are not customers but they are aware. And the most preferred location in city is store at ansal plaza

which grab the major share i.e. 49%. And model town sarabha nagar captures 27% and 16%

respectively.


33/46

Interpretation results shows that customers prefer to buy from ansal plaza as compare to other

locations of the stores in the city.

(4.12)Preference regarding various attributes of venus brand

Table no (4.12.1)

N=100

Pricing Rating (x) Responses

(f)

fx

High 3 2 6

Reasonable 2 76 152

Low 1 22 22

fx 180

mean 180/100 fx/f 1.8

Analysis above table depicts that 76 respondents thinks prices of venus are reasonable, 22

respondents says its low and only 2 says its high.

Interpretation results shows that pricing of the product lies between reasonable and low, but its

more close to reasonable. Hence the prices are reasonable of venus products.

Table no (4.12.2)

N=100

Quality Rating (x) Responses

(f)

fx

very satisfied 3 18 54

Satisfied 2 73 146

dissatisfied 1 9 9

Fx= 209

mean 209/100 fx/f 2.09

Analysis- Above table depicts that 73 respondents are satisfied with quality, 18 are very satisfied and

only 9 are dis satisfied.


34/46

Interpretation result shows that in terms of quality people are satisfied with garments of venus.

Table no.(4.12.3)

N=103

Variety x (rating) f (responses) fx

very satisfied 3 18 54

Satisfied 2 75 150

Dis satisfied 1 10 10

214

mean 214/103 2.07

Analysis Above table depicts that 75 respondents are satisfied , 18 are very satisfied and only 10

respondents are Dis-satisfied.

Interpretation Results shows that respondents are satisfied with the variety of venus garments.

Table no. (4.12.4)

N=100

Designing X

(rating)

f

(reponses

)

fx

good 3 23 69

Average 2 75 150

Bad 1 10 10

Fx= 229

mean 229/100 2.29

Analysis Above table depicts that 23 respondents were in favor of good, 75 for average and 10 for

bad .


35/46

Interpretation result shows that designing of the garments is lies between average and good but it is

more close to average.

Table no. (4.12.5)

N=100

promotional offers x (rating) f (responses) fx

Good 3 5 15

average 2 58 116

bad 1 37 37

Fx= 168

mean 168/100 1.68

Analysis above table depicts that 58 respondents were in favor of average, 5 were in favor of goodand 37 were in favor of bad.

Interpretation results shows that according to respondents promotional offers of venus brand lies in

between average and bad , but its more close average.

Fig no. (4.13) reasons for not purchasing from venus

Analysis above pie charts depicts 10 responses did not like designing, 7 responses for lack of

variety and 3 responses for never visited venus outlet.

Interpretation result shows that the main reason for not purchasing is that customers didnt liked the

designing of garments and few didnt liked the variety and never visited the outlets.


36/46

Fig no. (4.14) rating venus as a brand

Analysis - The above figure depicts that 61% respondents rate venus as a Low Price, High Quality

and 23% as a High Price, High Quality Brand. And only 12% respondents rate as low price low

quality.

Interpretation - Thus, it is clear that Quality of venus is preferred by the customers and has to

concentrate on its prices.


37/46

Fig no.(4.15) suggestions by respondents

Analysis - The above pie-chart depicts that out of total respondents, 38% suggests the increase in

advertisement and 20% goes for increase in promotional offers 16% respondents says that new

showrooms should be open, 12% and 11% respondents goes for designing and variety improvement

respectively.

Interpretation - Thus, Venus has to concentrate on Promotional Offers and Advertisements to

compete in this competitive environment.


38/46

CHAPTER-5

CONCLUSIONS

.Awareness of Venus Brand:

Results shows that 91% of the respondents were aware about venus as an apparel brand, and the

main source of their awareness is Banners and Hoardings as 69%.

Preferred Location for purchasing Branded Garments:

The respondents were of different views in selection of a retail format for purchasing their Branded

Garments. 72 out of 100 respondents were highly in favor of purchasing branded garments from the

company owned Franchisees in Shopping Malls. And only 7% responses were there forneighborhood stores which show the changing trend of shopping and prefrences of people.

Ranking of Attracting Features of Branded Garments:

The ranking which is given by sample of 100 respondents is as follows:

Rank 1 is given to Styling

Rank 2 is given to Quality

Rank 3 is given to Brand Image

Rank 3 is given to Discounting


39/46

Perception for Promotional Offers:

Most of the respondents were of the view that better Promotional Offers are responsible for their

brand preference. They visit the franchised showrooms after getting the information of discounts

from newspapers, television and friends. Banners and Hoardings are the main source of their

awareness. There is not much offers provided by Venus. This is also the reason for not being

preferred venus in comparison to other competitive Brands.

Venus is a Low Price, High Quality Brand:

Most of the respondents are highly satisfied with the Price and the Quality of venus . But out of total,

12% says venus needs improvement in Designing and Variety and 38% respondents were in a viewthat venus needs to work on there advertisement . Product Development includes Designing and

Variety in Ladies and kids Range and there Is huge scope in new product line that is accessories like

belts, jewellery, bags.

FINDINGS AND RECOMMENDATIONS

Findings

Levis the most preferred brand among people because of its designing.

It is also found that people give more preference to styling and quality over

discounting or other factors.


40/46

Venus is the well known brand in the market place. But

Its awareness is mainly through banners/hoardings. And people these days preferred

to go to malls for shopping.

Majority of the respondents are satisfied with venus, in terms of its quality, designing

etc. but they are only satisfied.

People rate the venus as a low price, high quality brand.

People these days prefers promotional offers such as membership cards, fix discount

to regular customers lucky coupons etc. but they are not that much keen to venus

offers.

Following are the recommendations to be considered:

Venus products should be widely made available in Malls of all the major cities of

India. Availability of products in Malls increases Brand Image and Companys

reputation. As it is found in survey that most of the people have now prefer Shopping

Malls and Exclusive Branded Outlets.

Quality, Designing and Styling are the three basic features of any branded garment.

These influences the customers mind most and by improving on these factors and

working on them constantly, the buyers faith can be won. So venus should also

provide more varied and latest designs and variety to its customers.

Customers are not aware about all the product range of venus. So the complete

product range should be promoted with the varsovia brand. Each and every kind of

variety should be offered to each retail outlet so that customers can be catered in a

better way especially in Ladies and kids product range.

It is seen through the analysis of the list of Franchisees that most of the Franchisees

of venus are located in Northern India. venus shall increase its number of Franchisees


41/46

in other parts of India too and try all its best efforts to reach all the potential

customers at their nearest place and also takes time to time suggestions from them.

To increase Brand Awareness, venus shall stress more on Advertisement and Sales

Promotion. Popular T.V. channels should be selected for advertisement so that each

segment of customers can be attracted for venus products. Venus shall appoint a

Brand Ambassador which will help in winning faith in domestic market.

The company shall start its own Customer Relationship Management Programme, so

that customers can directly address their problems and get them solved.

Like other competitive brands, venus has to concentrate on providing Promotional

Offers and also launch other Accessories to increase the sales and survive in this

competitive environment.

Majority of the people are satisfied with products of venus but steps should be taken

to delight them to survive in this competitive environment


42/46

Questionnaire

1) Name

2) Age(in years)

40 years

3) Gender

male female

4) Address-

5) Contact no

6) Income Category( rs in lacs)

2-4

4-6

Above 6

7) Occupation-

service self employed student homemaker

Other (please specify)


43/46

1. Do you wear Branded garments?a. Yesb. No

2. Which Brand firstly comes in your mind and why?a. Brand

nameb. Reason for recalling:

I. PricingII. Designing

III. Brand ImageIV. Celebrities/Brand Ambassadors

Any other, pleasespecify..

3. Are you a customer of the above mentioned Brand?

a. Yesb. No

(If No, then move to Question no.6)

4. Which feature attracts you most for the above mentioned Brand?

(Rank them on a scale of 1-4. 1-Most Important, 4-Least Important)a. Stylingb. Quality

c. Discountingd. Brand Image

5. From where do you prefer to buy Branded garments?

a. Shopping Mallsb. Exclusive Branded Shopsc. Neighborhood Stores

6. Are you aware of VENUS Brand of garments?a. Yesb. No

7. Through which Media you come to know about VENUS?a. Friend Circle

b. Magazines/Newspaperc. Banners/Hoardingsd. Showroom Locatione. TV/Radio/Cable


44/46

8. Have you ever purchased/used VENUS product?

a. Yesb. No(If No, then move to Question no.12)

9. From where do you purchase?Please specify the showroom

location

10. If yes, please tick your appropriate choice in relation to the followingattributes

of the VENUS Brand?a. Pricing High Reasonable

Lowb. Quality Very Satisfied Satisfied

Dissatisfiedc. Variety Very Satisfied Satisfied

Dissatisfiedd. Designing Good Average

Bade. Promotional Offers Good Average

Bad(If yes, then move to Question no.13)

11. If no, which of the following are the reasons for not beingpurchased?

a. Pricingb. Varietyc. Designing

d. Promotional Offerse. Never visited venus showroom

12. How do you rate VENUS as a Brand? (choose any 1 option)a. High Price, High Qualityb. Low Price, High Quality

c. High Price, Low Qualityd. Low Price, Low Quality

13. What suggestions you want to give VENUS as a Brand?

...


45/46

Bibliography

1. Radder L, Huang W(2008)High-involvement and low-involvement products: Acomparison of brand awareness among students at a South African university

Journal of Fashion Marketing and Management Volume: 12 Issue: 2 2008.

2. Govers P, Schoormans J.(2005) Product personality and its influence on consumerpreferenceJournal of Consumer Marketing Volume: 22 Issue: 4 (2005).

3. Kothari cr research methodology

4. Kotler Philip marketing management

5. www.venusgarments.com

6. http://www.jstor.org/pss/4189124

7. http://www.jstor.org/stable/4188979

8. http://www.mendeley.com/research/customer-satisfaction-service-quality-critical-

review-literature-research-implications-hospitality-industry .

9. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1014014 .
http://www.venusgarments.com/http://www.jstor.org/pss/4189124http://www.jstor.org/stable/4188979http://www.mendeley.com/research/customer-satisfaction-service-quality-critical-review-literature-research-implications-hospitality-industryhttp://www.mendeley.com/research/customer-satisfaction-service-quality-critical-review-literature-research-implications-hospitality-industryhttp://papers.ssrn.com/sol3/papers.cfm?abstract_id=1014014http://www.venusgarments.com/http://www.jstor.org/pss/4189124http://www.jstor.org/stable/4188979http://www.mendeley.com/research/customer-satisfaction-service-quality-critical-review-literature-research-implications-hospitality-industryhttp://www.mendeley.com/research/customer-satisfaction-service-quality-critical-review-literature-research-implications-hospitality-industryhttp://papers.ssrn.com/sol3/papers.cfm?abstract_id=1014014


46/46

part a of final report venus

Documents