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Marketing is the moving and exciting activities. The sellers, distributors, advertising
agencies, consultants, transporters, financers, store agencies and everyone as a counter are
part of marketing system. Any exchange process be it consumer, goods, intermediary goods,
service of ideas, comes under preview of marketing. Marketing is the study and management of
exchange relationships. Marketing is used to create, keep and satisfy the customer. With the
customer as the focus of its activities, it can be concluded that marketing is one of the premier
components of business management - the other being innovation. It is very often regarded
that the development of markets and marketing is synonymous with the economic
development of account. In the ever growing corporate world, marketing is being regarded as a
crucial element for the success of an enterprise.
The marketing discipline is undergoing fresh re appraisal in the light of vast global,
technological, economic and social challenges facing today’s companies and countries.
Marketing at its best is about value creation and raising the world’s living standards. Today’s
leading companies are those who succeed most in satisfying, indeed delighting their target
customers.
Marketing is defined by the American Marketing Association as "the activity, set of institutions,
and processes for creating, communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large." The term developed from the
original meaning which referred literally to going to market with goods for sale. From a sales
process engineering perspective, marketing is “a set of processes that are interconnected and
interdependent with other functions” of a business aimed at achieving customer interest and
satisfaction.
Philip Kotler defines marketing as “marketing is about Satisfying needs and wants through an
exchange process”.
The Chartered Institute of Marketing defines marketing as "the management process
responsible for identifying, anticipating and satisfying customer requirements profitably." A
similar concept is the value-based marketing which states the role of marketing to contribute to
increasing shareholder value. In this context, marketing can be defined as "the management
process that seeks to maximise returns to shareholders by developing relationships with valued
customers and creating a competitive advantage."
The process of marketing is that of bringing a product to market in which includes these steps:
broad market research; market targeting and market segmentation; determining distribution,
pricing and promotion strategies; developing a communications strategy; budgeting; and
visioning long-term market development goals. Many parts of the marketing process (e.g.
product design, art director, brand management, advertising, copywriting etc.) involve use of
the creative arts.
INTRODUCTION TO CONSUMER PERCEPTION
A marketing concept that encompasses a customer's impression, awareness and/or
consciousness about a company or its offerings is consumer perception. Customer perception is
typically affected by advertising, reviews, public relations, social media, personal experiences
and other channels.
The ultimate aim of every business is to increase sales by finding out the factors that drive
consumer’s buying decisions. Consumer perception theory tries to analyse and explain
consumer behaviour. The perception of the same product or service by different consumers
would vary. This is exactly what consumer perception theory analyses by finding out what
exactly motivates or influences a consumer behaviour in purchasing or not purchasing a specific
product.
Definition
Customer perception refers to the process by which a customer selects, organizes, and
interprets information/stimuli inputs to create a meaningful picture of the brand or the
product. It is a three stage process that translates raw stimuli into meaningful information.
Each individual interprets the meaning of stimulus in a manner consistent with his/her own
unique biases, needs and expectations. Three stages of perception are exposure, attention and
interpretation.
In simpler terms, it is how a customer see's a particular brand with whatever he or she has
been able to understand by watching the products, its promotions, feedback etc. It is the image
of that particular brand in the mind of the customer.
Service Quality
Even in the case of goods that exhibit numerous flaws, excellent service quality can often
overshadow a negative experience with the product itself. If a consumer feels that he receives
exceptional attention when encountering a problem with a product, that consumer is
somewhat more likely to trust the brand or product knowing that the manufacturer or retailer
provides a prompt and effective response to problems. Humans are social animals and their
consumer behaviour is often determined by the social relationships that surround a product,
including interactions with customer service representatives.
Packaging and Branding
Packaging and branding have a huge effect on consumer perceptions, particularly at the point
of purchase. Especially when a consumer is purchasing a type of product for the first time, the
way the product is presented can wholly determine their perception of the item. Packaging and
branding, of course, cover everything from the attractiveness and display quality of an item to
the attributes of a product the manufacturer chooses to highlight. Depending on the type of
product and market, different branding messages from tough and reliable to fine and luxurious
can be appropriate and effective.
Reputation
A product's reputation is built up over time and is usually a combination of actual experience
with the product, word-of-mouth recommendations and marketing campaigns that attempt to
establish a status or shared view of the product or brand. A consumer's perception of a
product's reputation, moreover, is not only determined by the product's brand identity and
manufacturer but by the whole chain of distribution. Even if a consumer trusts a product's
manufacturer, for example, that consumer may change his mind about the product upon seeing
it available in a retailer he associates with cheap, defective products.
RESEARCH METHODOLOGY
The survey technique is intended to secure one or more items of information from a sample of
respondents who are representatives of a larger group. The information is recorded on a form
known as questionnaire. As data are gathered by asking questions from persons who are
believed to have desired information, the method is known as questionnaire technique.
REASONS FOR WIDE USE OF THIS METHOD:
It can secure both quantitative and qualitative information directly from the
respondents.
It is the only method of directly measuring attitudes and motivations.
It is quite flexible in terms of the types of data to be assembled, the method of
collection or the timing of research.
Meaning of Research
According to D. Slessinger and M. Stephenson in the Encyclopedia of social sciences define
research as the manipulation of things, concepts or symbols for the purpose of generalizing to
extend, correct or verify knowledge, whether that knowledge aids in construction of theory or
in the practice of an art´.
TYPES OF RESEARCH
1.Exploratory Research,
2.Descriptive Research.
Exploratory Research:
Exploratory research studies are also termed as formulate research studies. The main purpose
of such studies in that of formulating a problem for more precise investigation or of developing
the working hypothesis forms an operational point of view.
Descriptive Research:
Diagnostic Research studies determine the frequency with something occurs or its association
with something else. In this project, information pertaining to customer needs satisfaction and
their demographic profile was collected; hence it is a descriptive research.
1. Primary data:
Meaning: Primary sources of data are the data which needs the personal efforts of collect it and
which are not readily available. Primary source of data are the other type of source through
which the data was collected.
Following are few ways in the data was collected:
Questionnaires:
It is the set of questions on a sheet of paper was being given to the of fill it, bases on which the
data was interpreted.
Direct interviewing:
Direct interviewing involved the process where I asked the questions directly to the customers
and I got the feedback.
2. Secondary data:
Secondary sources are the other important sources through which the data was collected.
These are the readily available sources of the data where one had need not put much effort to
collected, because it is already been collected and part in an elderly manner by some
researcher, experts and special.
The secondary sources helpful for the study were
Text books like marketing management research methodology Advertisement
and sales promotion etc.
Internet was made use for the collection of the data.
Newspapers were also referred.
Business magazines were referred.
3. Sample size:
By using judgment random sampling technique 50 respondents are selected for the purpose of
the study.
4. Period of study:
The study is undertaken in the duration of 45days.
5. Research approach:
The survey method was adopted for collected the primary data. Survey research is systematic
gathering of data from respondent through questionnaire.
6. Research instrument:
The data for this research study was collected by survey technic using interview method guided
by questionnaire.
7. Collection of Data:
Questionnaire and personal interviews are the methods that I have used for collecting the data
INDUSTRY PROFILE
Retail industry largest industry, accounting for are 10% of the country GDP and around 8% of
the employment retail industry in India is at the crossroads. It has emerged as one of the most
dynamic and fast paced industry with several players entering the market, but because of the
heavy initial investment required break even is difficult to achieve and many of these players
have not tasted success so far.
However the future is promising; the market is growing, government policies are becoming
more favourable and emerging technologies are facilitating operations. Retailing in India is
gradually inching its way towards becoming the next boom industry. The whole concept of
shopping has altered in terms of format and consumer buying behaviour ushering in a
revolution in shopping in India.
COMPANY PROFILE
ABOUT FUTURE GROUP
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading
business houses with multiple business planning across the consumption space. While retail
forms the core business activity of Future Group, group subsidiaries are present in consumer
finance, capital, insurance, leisure and entertainment, brand development, retail, real estate
development, retail media and logistics.
Led by its flagship enterprise, Pantaloon Retail, the group operates over 11 million square feet
of retail space in over 63 cities and towns and 65 rural locations across India. Pantaloon Retail
was awarded the International Retailer of the year 2007, by the US-based National Retail
Federation, the largest retail trade association and the Emerging Market Retailer of the year
2007 at the World Retail Congress in Barcelona.
Future Group believes in developing strong insights on Indian consumers and building
businesses based on Indian ideas, as espoused in the group core value of Indian. The groups
corporate credo is, Rewrite rules, Retain values.
Values
Indian ness: Confidence in ourselves.
Leadership: To be a leader, both in thought and business
Respect & Humility: To respect every individual and be humble in our conduct.
Introspection: Leading to purposeful thinking.
Openness: To be open and receptive to new ideas, knowledge and information.
Valuing and Nurturing Relationships: To build long term relationships.
Simplicity & positivity: Simplicity and positivity in our thought, business and
action.
Mission
We share the vision and belief that our customers and stake holders shall be served only by
creating and executing future scenarios in the consumption space leading to economic
development. We will be the trendsetters in evolving delivery formats, creating retail realty,
making consumption affordable for all customer segment. We shall infuse Indian brands with
confidence and renewed ambition. We shall be efficient, cost ± conscious and committed to
quality in whatever we do. We shall ensure that our positive attitude, sincerity, humility and
united determination shall be the driving force to make us successful. Sone Ki Chidiya When the
Mughals first came to India they were drawn by the lure of her fabulous wealth in India was
known as the “Sone Ki Chidiya” literally ‘The Golden Bird’. According to economic historian
Angus Maddison in his book the World Economy: A Millennial Perspective, India had the world’s
largest economy in the 1st century and 11th century , with a 33% share of world GDP in the 1st
century and 29% in 1000 CE. During 1700 AD, Mughal era, India’s share was 24%, more than
the whole of Western Europe. It came down to 3.8%in 1950s. Paul Kennedy, in this highly
regarded book, The Rise and Fall of the Great Powers: Economic Change and Military conflict
from 1500 to 2000estimates that in 1750.India¶s share o the world trade was nearly 25
percent. It came down to0.5% in the 1960s and now stands at around 1..5%.The Indian
economy is once again at the centre of the global attention .As domestic consumption drives
economic growth in India, Future Group hopes to play a pivotal role in bringing back the Sone
Ki Chidiya.
Future Ventures
Future Ventures, seeks to promote and participate in innovative and emerging business
ventures in India. The company intends to play a role in powering entrepreneurship, by
promoting or participating in diverse business activities, primarily in consumption-led sectors in
the country, which it defines as sectors whose growth and development will be determined
primarily by the growing purchasing power of Indian consumers and their changing tastes,
lifestyle and spending habits. The company will also participate in businesses where it exercises
control or influence, and can add value as active shareholders, by utilizing the experience and
knowledge of the Future Group.
o Allover India, Big Bazaar attracts a few thousands customers on any regular day.
INTERPRETATION:
From the above study 52% of respondents from advertisement, 38% from colleagues reference
and remaining from friends/ relatives.
INTERPRETATION:
From the above study 66% of respondents spend Rs.1000 to Rs.5000, 20% spend more than
Rs.5000, and remaining spend less than Rs.1000.
INTERPRETATION:
From the above study 50% visit Big Bazaar on weekend, 20% visit on maha bachat days, 16% on
festival offers, and remaining on Wednesday.
INTERPRETATION:
From the above study 44% of respondents purchase product once a week, 24% of respondents
purchase product occasionally, 18% of respondents purchase product once a month, and
remaining 14% twice a week.
INTERPRETATION:
From the above study 44% of customers purchase a product from each department, 12%
customer purchase on from FBB, 8% customer purchase only groceries items, 4% customers
purchase only household items, remaining 2% customer purchase only vegetables and fruits.
INTERPRETATION:
44% of respondents prefer to shop at big bazaar because of only its name, 20% for quality, 14%
for offers, 8% each for low price and convenience, and remaining 6% for value of money.
INTERPRETATION:
54% of respondents came to Big Bazaar on afternoon, 40% on evening, and remaining 6% on
morning.
INTERPRETATION:
56% of respondents shop from others apart from big bazaar, 20% from reliance, 8% from vishal
mega mart, and remaining 16% from only Big bazaar.
Why do you shop at the other stores, if you are not visiting to Big Bazaar?
Reason for Shopping at No. of Customers Percentage (%)
Different Place
Quality 9 18%
Convenience 5 10%
Near to Home 19 38%
Cheaper than Big Bazaar 6 12%
Better or Frequent offer than 2 4%
Big Bazaar
INTERPRETATION:
38% of respondents visit to other store because the store is near to their home, 18% visit to
others because of quality, 12% respondents because for it is cheaper, 10% for convenience and
remaining 4% for better and frequent offers.
INTERPRETATION:
From the above study 42% of respondents get messages and emails from Big bazaar about the
offers, 32% of respondents get occasionally and remaining 26% never get any message and
emails because they are not the profit club members.
Do you notice any changes between your last purchase and current purchase from Big Bazar in
any discipline?
Difference in purchase No. of Customers Percentage (%)
All of the time 8 16%
Most of the Time 23 46%
Never 19 38%
INTERPRETATION:
From the above study 46% of respondents notice changes most of the time, 38% never notice
any changes and remaining 16% notice changes all of the time.
INTERPRETATION:
From the above study 58% of respondents said that the quality of service provided by Big
Bazaar was good, 22 % said that the quality of service is very good, 12% said it was average, 6%
said they can’t say, and remaining 2% said that the quality of service is bad.
INTERPRETATION:
From the above study 60% of respondents said yes they refer their relatives/ friends to go to
big bazaar, and remaining 40% said no they cant refer their relatives/ friends because they
depend on daily market.
A PROJECT REPORT ON
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