CUSTOMER BASE POOLING IN THE RETAIL OUTLET

Summary

Indian retailing industry has shown a revolutionary growth in the last five years and
has emerged as the up coming sector .According to “Indian sector retail analysis.”
report, organized retailing will form 10% of total retailing by the end of 2010 and will
grow at the CAGR of 49.53%.Presently Indian organized market is approximately
Rs.5000 cr.With the rise in the disposable income of the consumers, consumer
markets are enlarging. With growing cut throat competition in organized retailing,
retailers need to plan and work differently to attract the customers. Retailers need to
attract the consumers first to convert them into customers.

The objective of this project report is to study the consumer behaviour and design
the promotional strategies to pool the customer in the outlet.The research assumes
significance since marketers have endeavored to cater to this growing segment of
consumers. There are 1.6million households in India spending over Rs.4 lakh a
year on digital accessories. These households will treble to three million in the
next five year, that translates into a potential market of Rs.63, 064 crore.Seeing
the potential new players with their retail stores are emerging in electronics sector
like Tata’s (Croma), Videocon (next),Sony, LG(LG shopee).

Main objectives

Main objectives of the Study can be summarized as follows:-

• To analyze the ways to pool the customers in the outlet.

• To identify what factors determine whether consumers choose to buy
or not buy from the outlets.
• To analyze the importance of satisfaction level in the purchasing
environment
.
Company profile

NEXT is one of the emerging giants in the organized retailing of consumer electronics
and home appliances products which has been formed to tap the immense potential of
the 50,000 crores retail industry Under the aegis of NEXT Retail India Ltd, NEXT has
 now become the only consumer electronics chain that delivers across India with its
presence in 16 states and over 384 outlets Aiming to be a multi-brand multi-product
outlet Next has an ambitious plan to create a network of more than 400 retail outlets and
a targeted turnover of more than Rs. 700 crores by next year.

Methodology

The study was focused on the marketing strategy to pool the customer at the outlet. The
research was targeted across New Delhi and Meerut. , among all the people within any
age group who visited the outlet. The survey was mainly done through first hand basis
by filling up the questionnaire by the respondent on the spot. A sample size of 50 was
taken to serve the purpose of the research. The data which has been collected was
analyzed by using the Percentage Method and has been graphically represented by
means of Pie Charts and Bar Graphs .The data gathered from the following sources:

Primary Source: A detailed Questionnaire was constructed which solicited

information on the users, profile, , products/services purchased from the outlet along
with future propensity to buy, customer satisfaction level , brand preferences, and the
factors that would increase the footfall in the outlet.

Secondary Source: The collection of Secondary Data was collected mainly through a
range of Internet Portals and Websites. Some journals and magazines were also referred

Conclusion

The report brings out various factors which can retain the customer in the outlet like
ambience, competent pricing, excellent customer service etc. The report shows that
buying behavior is shifting, from price centric to quality centric. More focus is on
looking and feeling good and all this has happened mainly due to the fact that the
number of international brands available in India markets has gone up ,easy availability
of credit ,rapid improvement in infrastructure, increasing investment in technology
Customer appreciate the efforts done by the company to make them feel special .Seeing
this tendency various promotional strategies have been thought of and out of them three
have been examined critically, they are ad on web portals ,loyalty program scheme,
cross promotion which the company has not yet implemented. The basic concept about
footfall management is “More of the right people for more time”. For all this data has to
be gathered to analyze and to make a strategy to increase the footfall and to increase the
amount of conversion too. The store management and layout is also important for
making it a feel good experience for the customer. Therefore, we can derive that it takes
a lot of things to run a retail outlet; where footfall plays a very important role.