Escolar Documentos
Profissional Documentos
Cultura Documentos
CONTENTS
1.INTRODUCTION AND LITERATURE
REVIEW
2.INDUSTRY PROFILE
3.COMPANY PROFILE
4.SWOT ANALYSIS
5.FINDING,SUGGESTION &
CONCLUSION
6.BIBLIOGRAPHY
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
1.1. INTRODUCTION
Retail enterprises are those components of the distribution channel that interact
directly with the end customers. Retail enterprises, therefore, tend to possess grater
knowledge about the customers needs and aspirations. Further, being close to the
customers, retailers have a critical influence over the choice of the end customers.
With increasing demand from the buyers end and the discovery of an opportunity in
the retail space, the science of retailing has acquired a new and strategic importance.
Understanding consumer behavior is emerging as a special field of study within
marketing. Enterprises are investing heavily to gain insights into the consumers
behavior. How consumers are arriving at their decision is itself a major area of
research.
Base consumer research, enterprises endeavor to build consumer- oriented
organization. Event brands are developed for specific target markets. Consumer
research is not restricted to conventional sectors as marketers make efforts to
understand the mind of the customers. It is also important to know that the brands and
the consumer decision are interrelated therefore, it is necessary for the marketing
manager to clearly understand concepts like market segmentation, brand architecture
and so on.
Big Bazaar is a chain of shopping malls in Indian owned by the future group. It has
democratized shopping in India and is so much more than a hypermarket. Here you
will find over 170,000 products under one roof that cater to every need of a family,
individuals and offices and so on. Big Bazaar is the destination where you get
products available at prices lower than the MRP, setting a new level of standard in
prices, convenience of location and quality. It was started in the year 2001 with the
slogan
The title of this project is consumer buying behavior towards Big Bazaar
( Future Value Retail ltd)BSK III Stage, Banashankari Bangalore 560 085 the
objective of this project is to understand how consumer behave and become aware
of, evaluate, purchase, consume and tell other about products and services.
The type of research design used was the descriptive research design and the sampling
procedure that was followed was non probabilistic convenience sampling.
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
The structure questionnaire was used to get the responses from the respondents by
personally interviewing them in the store. Some of suggestion provided by the
respondents for improvement included increasing the efficient of the billing system in
weekends and during festive seasons, proper arrangement of the products, reducing
too much crowd during festive seasons and improvement in parking facility seating
arrangement proper drinking eater facility.
The sample may not represent the whole universe or population and most of
customers busy with shopping are some of them may made bias. The total sample size
for the study is 100 respondents across all the analysis of the study, and gender. Bar
chats and other useful techniques are used for the analysis of data. The limitations of
the study include the biased responses provided by the respondents.
RESEARCH METHODLOGY
Type of research and Statement of problem
(a)Type of research
The choice of the most appropriate research design depends largely on the objective
of study and how much is know about the problem and objectives three basic types of
research exists.
1. Exploratory Research
2. Descriptive research
3. Causal Research
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
organization makes an attempt to fine the consumer behavior it will be easy to offer
the products or services to customer.
Scope of Study:
The scope of study is limited only to the consumer buying behavior towards Big
Bazaar (Future Value Retail ltd) BSK III Stage, Banashankari Bangalore 560 085.
1. The study helps us to understand the consumer behavior towards Big Bazaar.
2. The study helps to know customer satisfaction levels
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
Sample size denotes the number of elements selected for the study. For the present
study, 100 respondents were selected at random. All the 48 respondents were the
customers of different stores and remain were specially Big Bazaar prospect
customers.
Collection of Data
Data collection is the process of obtaining valuable and reliable information
for purposes of research.
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
The opinion of the respondent visiting the store may not represent the whole
population.
b) Due to the limitation of time for both respondents and Marketing manager
unable to cover larger base of respondents and it is limited only sample size of
100.
c) Analysis and interpretation of data obtained from the questionnaire was done
on the assumption that the data given by the customers is correct and honest.
d) Some of the respondents were not ready to fill the questionnaires and some of
them were not ready to come out openly.
e) It was difficult to fine respondents as they were busy in their shopping.
Evaluation of Alternatives:
For evaluation, a consumer will not consider all brands available in the market. He
will shortlist a set of choices on which evaluation is done. This is known as the
evoked set. Evoked set can be defined as set of brands that a consumer will
remember while making the purchase decision it is more likely that consumer will
choosebrand from the evoked set. Thus the focus of advertisers at this stage is to
place the brand in the consumers evoked set, thereby increasing the probability of
the consumer selecting the brand. Another key element that influences the
evaluation process is the attitude of the consumer towards the product. A positive
attitude towards a particular brand will make a consumer consider that brand and a
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
negative attitude towards it will result in rejection of the brand. Thus, advertisers
try to create a favourable attitude among consumers towards their brand. Multiattribute models and decision rules will help the company in understanding the
consumer attitudes.
Purchase Decision:
Purchasing decision is the next step in the consumer buying process. At this stage
consumer will make a final decision regarding the brand to be purchased. A
consumer will also decide about issues like where to buy, when to buy and how
much quantity to buy.
Apart from understanding the consumer buying process, advertisers need to study
the consumer learning process which has an influence on buying behavior. The
consumer learning is defined as "the process by which individuals acquire the
purchase and consumption knowledge and experience they apply to future related
behavior." Consumer learning can be explained using two theories -- behavioral
learning theory and the cognitive learning theory.
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
HISTORY OF RETAILING
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The history of retailing is very old. Small stores play a key role in the nations
economy. Generally, most of the retailers are small one- man or proprietary stores.
Retailing is a dynamic form of marketing. In some developed countries one- man or
small stores are disappearing and have been replaced by departmental stores. Discount
stores are few and are found in abundance inurbane markets. But in India, such stores
are fever and are found in urban areas only. In rural areas of India, only general stores
are existing. Most of the retailers in Indian suburban and rural markets are of the form
of general stores.
The emerging sectors
Retailing, one of the largest sectors in the global economy, is going through a
transition phase not only in India but the world over. For a long time, the corner
grocery store was the only choice available to the consumer, especially in the urban
areas. This is slowly giving way to international formats of retailing. The traditional
food and grocery segment has seen the emergence of supermarkets/grocery chains
(Food World, Nilgiris, Apnna Bazaar), convenience stores (Convention, HP Speed
mart) and fast-food chains (McDonalds, Dominos).
It is the non-food segment; however that foray has been made into a variety of
new sectors. These include lifestyle/fashion segments (Shoppers' Stop, Globes,
Lifestyle,
Westside),
apparel/accessories
(Pantaloon,
Levis,
Reebok),
Hypermarket
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The traditional grocers, by introducing self-service formats as well as valueadded services such as credit and home delivery, have tried to redefine themselves.
However, the boom in retailing has been confined primarily to the urban markets in
India. Even there, large chunks are yet to feel the impact of organized retailing. There
are two primary reasons for this. First, the modern retailer is yet to feel the saturation'
effect in the urban market and has, therefore, probably not looked at the other markets
as seriously. Second, the modern retailing trend, despite its cost-effectiveness, has
come to be identified with lifestyles.
In order to appeal to all classes of the society, retail stores would have to
identify with different lifestyles. In a sense, this trend is already visible with the
emergence of stores with an essentially `value for money' image. The attractiveness of
the other stores actually appeals to the existing affluent class as well as those who
aspire for to be part of this class. Hence, one can assume that the retailing revolution
is emerging along the lines of the economic evolution of society.
Technology impact
The other important aspect of retailing relates to technology. It is widely felt
that the key differentiator between the successful and not so successful retailers is
primarily in the area of technology. Simultaneously, it will be technology that will
help the organized retailer score over the unorganized players, giving both cost and
service advantages.
Retailing is a `technology-intensive' industry. It is quoted that everyday at least
500 gigabytes of data are transmitted via satellite from the 1,200 point-of-sales
counters of JC Penney to its corporate headquarters. Successful retailers today work
closely with their vendors to predict consumer demand, shorten lead times, reduce
inventory holding and thereby, save cost. Wal-Mart pioneered the concept of building
a competitive advantage through distribution and information systems in the retailing
industry. They introduced two innovative logistics techniques - cross-docking and
electronic data interchange.
Today, online systems link point-of-sales terminals to the main office where
detailed analyses on sales by item, classification, stores or vendor are carried out
Vijayanagar college, Hospet
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online. Besides vendors, the focus of the retailing sector is to develop the link with the
consumer. `Data Warehousing' is an established concept in the advanced nations. With
the help of `database retailing', information on existing and potential customers is
tracked. Besides knowing what was purchased and by whom, information on softer
issues such as demographics and psychographics is captured.
The top five companies in retail hold a combined market share of less than
2%.
The Indian retail market has been ranked by AT Kearney's eighth annual
Global Retail Development Index (GRDI), in 2009 as the most attractive
emerging market for investment in the retail sector.
Currently the share of retail trade in India's GDP is around 12 per cent, and is
estimated to reach 22 per cent by 2010. .
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Future Trends
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Shoppers Stop has plans to invest Rs250 crores to open 15 new supermarkets
in the coming three years.
Pantaloon Retail India (PRIL) plans to invest US$ 77.88 million this fiscal to
add up to existing 2.4 million sq ft retail space. PRIL intends to set up 155 Big
Bazaar stores by 2014, raising its total network to 275 stores.
Timex India will open another 52 stores by March 2011 at an investment of
US$ 1.3 million taking its total store count to 120. In the first six months of the
current fiscal ending September 30, 2009, the company has recorded a net profit of
US$ 1.2 million. Australia's Retail Food Group is planning to enter the Indian market
in 2010. It has plans to clock US$ 87 million revenue in five years. In 20 years they
expect the India operations to be larger than the Australia operations
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Philip Kotler defines retailing as all activities involved in selling goods or services to
the final customer for personal use. There are two forms of retailing
c. Supermarkets: These are similar to department stores but with a focus o food
and household maintenance products. This is more of a self-service operation
wherein a customer just goes and picks what he wants.
d. Convenience stores: The unique feature of this type of store is that they are
open for relatively long hours and mostly on all the days of the week, thus
making it accessible to the customer. Typically this kind of retailing is located
in residential areas.
e. Discount stores: A discount store sells products at a lower price by reducing
its own margins. This type of stores target high volumes to ensure profitability
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b. Direct Marketing: Here, the sales person does not directly visit the customer,
but product information is supplied through other sources. These include
sending mails, providing information over the telephone (also called as
telemarketing) and other media.
c. Television shopping: Now- a- days, television has become very popular
means of selling products. Various channels have teleshopping programs
through which marketers demonstrate the usability of the products. The
customer can then order the product through e-mail, internet or the telephone.
d. Cataloging: Here, a booklet enlisting all the products on offer is send to the
customers. Based on the information provided, the customer can then make
his/her buying decision and order it via the telephone, e- mail the internet.
e. Net Marketing: Net marketing is the latest trend in marketing. The
information about the product products is providing in the website of the
retailer. The other electronic tool that is used the e-mail facility. E- Mail is sent
to prospective customers by providing the details of products. The media is
also used to provide information about new market to existing customers.
The psychology of how consumer think, feel reason, and select between
deferent alternatives ( e.g., brands, products)
How marketers can adapt and improve their marketing campaigns and
marketing strategies to more effectively reach the consumers.
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concept and they create pressures for conformity that may affect the persons actual
product and brand choices.
Family: family members constitute the most influential primary reference
group. Marketers are interested in the roles and relative influence of the husband, wife
and children in countries and social classes. The marketer as always has to research
the specific patterns in the particular target market. The marketer needs to determine
which member normally has the bigger influence in choosing various products.
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Psychological factors:
Need and motives
A need is a lack of something useful. It is imbalance between customerss
actual and desired state. A need must be sufficiently aroused before it can serve as a
motive to buy something.
Motives: motives are inner states that direct a person towards the goal of
satisfied a felt need. The individual moves to take action to reduce a state of tension
and to return to a condition of equilibrium.
need very little search and also very little decision effort in this care the consumer
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prefers a special brand but he also knows other brands of the same product class to
have an alternative to buy if there is some thing wrong with his favorite brand.
2. Limit decision making
This is the case if the consumer buys a product occasionally or if there is a
new brand, he /she doesnt know about, in a familiar product category, for this type of
decision making, the consumer needs a moderate amount of time for gathering
information and deliberation.
3. Extensive Decision Making
This is most complex decision making behavior. It happens when a purchase
includes unfamiliar, expensive or infrequently bought products; for e.g. cars, house
etc. the buyer uses a lot of time evaluating alternative brands or choices and also for
seeking intromission.
A big contrast to the extensive decision making process that were mentioned
earlier is the behavior the impulse buyer. These people do not plan conscious to buy ,,
they have a persistent urge to buy something immediately if they like it ,but often
these people get in emotional conflicts they often feel guilty because of their limited
finances or some thing else.
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
Information Search
Evaluation of
Alternative
Purchase
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
Big Bazaar
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
Big Bazaar, is the chain of retail stores of the big banner pantaloon
Retail(Indian) ltd., which in turn is a segment of the Kishore Biyan, regulate future
Group of companies. Moreover the customer friendly ambiance and the organized
retailing of products also make Big Bazaar one of successful retail companies in
India.
Big Bazaar
Overview
Big Bazaar is a part of the pantaloon Group is a hypermarket offering a huge
varies of goods of good quality for all at affordable prices. Big Bazaar with over 50
outlets in different parts of India is present in both the metro cities as well as in the
small town.
Big Bazaar has no doubt made a big name in the retail industry of India,
moreover shopping here is further made a memorable experience with the varied rates
of discounts on products as well as discount vouchers available in a variety of
amounts, like INR2000, INR 3000, INR 4000, INR5000 and 10000 on all Big Bazaar
products and accessories.
The variety of product range in Big Bazaar:
This is large format store comprise of almost everything required by people
from different income group. It varies from clothing and accessories for all gender
like men, women and children, playthings, stationary and toys, footwear, plastics
utensils, home utility products, cosmetics, crockery, home textile, luggage gift items,
other novelties, and also food products and grocery.
The added advantage for the customers chopping in Big Bazaar is that there
are all time discounts and promotional offer going on in the Big Bazaar on its saleable
products.
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
Shopping in the Big Bazaar is a great experience as one can find almost
everything under the same roof. This is very important for satisfying customers. It has
different feature which cater all the need and wants of the customers. Some of the
significant characteristics of Big Bazaar are as follows:
The Food Bazaar or the grocery store with the department selling fruits and
vegetables
There is a zone specially meant for the enjoyment of the kids
Furniture Bazaar or a large section dealing with furnitures
Electronic Bazaar or the section concerned with electronic goods and
cellular phones.
Future Bazaar .com or online shopping portal which makes shopping easier
as one can shop may products of Big Bazaar at the same price from home
Will regulated customer care Tele calling services
Group Mission
We share the vision and belief that our customers and stakeholders shall be served
only by crating and executing future scenarios in the consumption space leading to
economic development.
BOARD OF DIRECTORS:
Mr. Kishore Biyani, Managing Director
Kishore Biyani is the Managing Director of Pantaloon Retail(Indian)
Limited and the group chief Executive Officer of Future Group.
Mr. Gopikishan Biyanin, Whole time Director
Gopikishan Biyani is commerce graduate and has more than twenty
years of experience in the textile business.
Mr. Rakesh Biyani, Whole time Director
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
Summary of compan
Source
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
Article
Big Bazaar
Portion used
The entire logo is used to convey the meaning intended and avoid
tarnishing or misrepresenting the intended image.
The logo is of a size and resolution sufficient to maintain the
Low resolution?
Purpose of use
the reader identify the organization, assure the readers that they
have reached the right article containing critical commentary
about the organization, and illustrate the organization's intended
branding message in a way that words alone could not convey.
Because it is a logo there is almost certainly no free equivalent.
Replaceable?
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
STRENGTH:
It offers a family shopping experience, where entire family can visit together.
WEAKNESS:
Limited only to value offering low price products. A know of branded products
are still missing from Big Bazaars line of products. E.g. Jockey, Van houses,
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
Opportunity:
More people these days prefer to visit big stores where they can find large variety
under one roof
Threats:
Competition from other value retail chains such as Shoprite, Reliance (Fresh and
trends), Hyper city and D mart.
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
6.1. FINDING
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
From the survey which has been conducted in Big Bazaar we obtained the following
information:
1.
The retail scenario is one of the fastest growing industries in India over the
last couple of years. India retail sector comprises of organized retail and
unorganized retail sector. Indian Retail sector is the fifth largest global retail
destination. According to Government of India estimation, currently the
share of retail trade in India's GDP is around 12 per cent, and is estimated to
reach 22 per cent by 2010.
2.
Big Bazaar is a chain of shopping malls in India owned by the future group.
It has democratized shopping in India and is so much more than a
hypermarket. Here you will find over 170,000 products under one roof that
cater to every need of a family, individuals and offices and so on. Big Bazaar
is the destination where you get products available at prices lower than the
MRP, setting a new level of standard in prices. Big Bazaar is a part of the
pantaloon Group is a hypermarket offering a huge varies of goods of good
quality for all at affordable prices. Big Bazaar with over 50 outlets in
different pars of India is present in both the metro cities as well as in the
small town.
3. Price of products:
From study it is found that majority of respondents i.e., 44% had
opinion that price of products is affordable,26% value for money, and 18% is
high in Big Bazaar. So, there is relationship between Price of Products and
Consumers Buying Behavior.
4. Quality of Products:
According the consumer buying behavior in Big Bazaar, majority
quality of products is good i.e. 58% of respondents were rated quality of
products is good, 28% is average and 14% is very good. Since, we can
understand that there is a relationship between quality of products and
Consumer buying behavior.
Majority of the respondents felt that the service time of Big Bazaar is medium i.e.,
52% of respondents had opinion for medium service time, 30%, fast service remain
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20% slow service. Because they felt, for example billing system need to be improved
as during weekend and in other occasions it takes very long time for the customers to
complete the billing formalities. So, behavior of consumer with quality services has
more related to each other.
5.
6.2. SUGGESTIONS
Some of the suggestions for improvements given by the respondents were:
Majority of the respondents felt that the billing system need to be improved as
during weekend and in other occasions it takes very long time for the
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Consumer Buying Behavior Towards Big Bazaar (Future value retail ltd)
Some of the respondents also raised their concern regarding the arrangement
of the products within the product category, some respondents found it
difficult to search for the product which they required .so trimming up of the
products is necessary.
Some respondents also raised their concern regarding the seating arrangement,
drinking water specialty hence take care these issues seriously.
The ambience within the store also plays a very important role in influencing the
customer perception towards the store. The ambience, such as the lighting the
music that is played etc,. Should be taken care of good ambience for shopping
improves the customer perception.
The parking facilities was not enough during the weekends o and during
festive season.
6.3. CONCLUSIONS
The overall consumer behaviors towards Big Bazaar is good because of
affordable price, good and average quality of products, service time, billing systems,
convenience stores and some offer and verities of products. The target customer for
the Big Bazaar majority of consumer are middle class which their monthly income is
more than Rs.15000. Middle class segments is growing due to high disposal income
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customer found the price are reasonable they found also quality of product is good
and average with good variety of product available in this Bazaar.
About 50 % of customer shopping from others store specially form
conveniences stores So, we can summarize that the overall consumer behavior
towards Big Bazaar is positive and they are seeing satisfied with good shopping
experience and offers of Big Bazaar retail Management.
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BIBLIOGRAPHY
REFERENCE BOOKS:
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WEBSITES
http://www.ibef.org/industry/retail.aspx
www.big.bazaar.com
www.pataloonindia.com
Retailing in India: Trends and opportunities
http://www.afferguson.com/bulletin/ret-pri.htm
http://en.wikipedia.org/wiki/Retailing_in_India
http://www.plunkettresearch.com/Industries/Retailing/RetailingTrends/tabid/2
69/Default.aspx
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