Executive Summary: Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers

and for managing customer relationships in ways that benefit the organization. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. On the other hand Consumer behavior is the study of when, why, how, and where people do or do not buy a product. It blends elements from psychology, sociology, social anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. Customer behavior study is based on consumer buying behavior, with the customer playing the three distinct roles of user, payer and buyer. It studies characteristics of individual consumers such as demographics and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. So Understanding consumer behavior and knowing customers is never simple. Understanding of consumer behavior is very much necessary for a successful marketer. High Fashion Gallery newly established furniture house in the country located at Dhanmondi and Gulshan in Dhaka. High Fashion Gallery is a trusted name in furniture industry in Bangladesh. They are known for quality, excellence personalized customer support services. They have large base of satisfied customers in Bangladesh and international market. In this study, we have tried to study the consumer behavior, their buying pattern, their learning process, and their attitude components and so on in order to examine about consumers approaches to High Fashion Gallery. In our study we tried to understand what factors influences the affective part of the attitude of the consumers. We used a Likert scale to measure the behavioral propensity taken by the consumers. And according to that we tried to recommend some strategies for the company. We also tried to understand the cognitive part of the attitude of the consumer. And we also tried to make some recommendations for High Fashion Gallery.

1. Introduction: 1.1 Origin: East West University is an institution of higher education that promotes and inculcates ethical standards, values and norms. East West University (EWU) is committed to the ideals of equal opportunity, transparency, and non-discrimination. The primary motive of EWU is to provide a tertiary education characterized by academic excellence in a range of subjects that are particularly relevant to current and anticipated societal needs. To do this East West provides undergraduate degree on different major subjects like Marketing, Management, English, and Economic and so on. Consumer Behavior is one of the courses of marketing major which teaches how individuals feel, think and act in the market place. Consumer behavior is an influential asset for customer behavior analysis as it has a keen interest in the re-discovery of the true meaning of marketing through the re-affirmation of the importance of the customer or buyer. A greater importance is also placed on consumer retention, customer relationship management, personalization, customization and one-to-one marketing. To understand all those factors, Mr. Farhan Faruqui, course instructor of Consumer Behavior has given us this assignment on High Fashion Gallery.The origin of this report is the assignment that we got from our honorable course instructor. 1.2 Objective: Throughout the report we will explore what influences the customers and their expectations from High Fashion Gallery, how they differentiate the attributes and how they compare with other companys product. Following are the objective of the study:

y y y y y y

To know about High Fashion Gallery. Who are their target markets? What are the customers expectations and needs? Identify the factors which influence the customer behavior. Find out the overall position of the company. Find out the marketing strategy for this company.

1.3 Scope: This report is prepared focusing on consumer perception, belief, ideas, experiences, thought, feeling, and action. The area of the survey was only in Dhaka city. Basically all the inference will be made based on the city area. It is a comprehensive report based on structured questionnaire survey, data calculation, peoples opinion, our perception and knowledge, books of Consumer behavior and so on. The detailed analysis of survey is beyond the scope of our report and we try to concentrate on the over all general knowledge of this subject matter.

1.4 Limitations: While preparing this report we had faced so many problems. Those are as follows:

y y

Information about High Fashion Gallery was very limited. Though the promotional activity is better but general people were less concerned about this steel product and many people could not relate to the different attributes given in the questionnaire and answer well.

y y y y y

Then there was electricity problem as power disruption interrupted our work. Time shortage was one of the major problems. Data collection process was irregular. Lack of co-operation of the people while doing survey. Errors in rating the factors from the peoples personal perception.

1.5 Methodology: Nature of the study: Exploratory Source of information: Both primary and secondary

Primary sources: Primary sources involve people who use furniture in household and in office work and the people who concern about the use of furniture. For primary source the following factors were considered to collect information:

y y

Information collection instrument: Structured questionnaire for the respondents. Sampling method: Convenient Sampling.

Data sources: From 2nd August, 2011 we started to fill up our questionnaire by the target people. All data are analyzed from the collected information from the survey questionnaire. Analysis of information: For preparing this report we used some formal Statistical technique through MS Excel which was used to analyze the collected data. Average, weighted average were also used here. 3. Product Profile: Sofa set, Master bedroom set, Boss table, Dining table set, Color vertical, Children bedroom set

4. Marketing Strategy and consumer Behavior

4.1Market Segmentation: The company has determined the High Fashions target market based on four steps. These are: i. Identifying Product related Need Sets: Organization approach market segmentation with a set of current potential capabilities. These capabilities may be are reputation, an existing product, a technologies, or some other skill set. In case of HFG, the marketers had to find out about that certain need set that will define the perfect product for their consumers. HFG could find out that people actually need furniture to adorn their dream house. Define Each Group: As HFG has identified that they will provide good quality furniture to the people. They have identified by two group a) Corporate User b) Home User We can classify the consumer into two types. These are: y y ii. Upper class. Upper middle class.

Attractive Segments to Serve: High Fashion Gallery has decided to serve corporate group. Because, corporate market is popular in Bangladesh, So, HFG focus on the corporate user and they can easily earn huge amount of profit from these segment.

4.2 Marketing mix modification: In this step at first we have to take concept about marketing mix. Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. Another way we can say that Marketing mix in the set of controllable variables of a firm by which it is possible to create awareness among target audience. It is indicated by 4p but at present another 8p is included in the marketing mix.
Marketing Mix

The set of controllable tactical marketing toolsproduct, price, place and promotion.

Product

Price

Customer

Place

4Ps

4Cs

Customer solution Product

Promotion
Price Customer cost

Place

Convenience

Promotion

Communication

Product: Sofa set, Master bedroom set, Boss table, Dining table set, Color vertical, Children bedroom set

Price: In every business there should have price line. But by doing our report we find out that all report basically based on a particular product but our report was furniture business. So our product price line is huge so we are giving some sample price line below

Wood Footstool Childs chair pak #1 Price BDT 2000 BDT 7500

Mekenzi king bed Coaste Easton brown BDT 60000 BDT 78000

Advertising
HFG usually gives less focus on advertising. The main reasons behind that are: 1. They are new in the market 2. They cannot increase their budget on advertising from now on 3. As their main market is the corporate market, they think that running advertises all over the year cannot help them to increase their sales with a marginal portion 4. Advertising budgets of their competitors are a great portion higher than them. So, both with volume and quality, they cannot compete with them (Otobi and HATIL).