Project Report on Marketing Strategies in Retail in Aurangabad

Everest Education Society’sJIBRAN QUADRI INSTITUTE OF MANAGEMENT OF SCIENCE AND RESEARCH AURANGABAD A Project Report On “A STUDY OF MARKETING STRATEGIES OF RETAIL COMPANIES TO DO BUSINESS IN AURANGABAD” A Project Report Submitted In the partial fulfillment of the degree of Master of Business Administration Submitted by Mr. Mohd Abdul Taufeeq Mr. Quazi Zubair Sir Guide Dr. K.D. Phuke Director For Academic year 2008-2009 Dr. Babasaheb Ambedkar Marathwada University. Aurangabad Everest Education Society’s JIBRAN QUADRI INSTITUTE OF MANAGEMENT SCIENCE AND RESEARCH AURANGABAD CERTIFICATE This is certify that MR. Mohammed Abdul Taufeeq a Student of MBA IV Sem has completed his project study Report on “A STUDY OF MARKETING STRATEGIES OF RETAIL COMPANIES TO DO BUSINESS IN AURANGABAD” And has submitted a satisfactory report as per the requirements of DR. Babasaheb Ambedkar Marathwada University in the partial fulfillment of Master of Business Administration in the academic Year 2008-2009. Mr. Quazi Zubair Guide Dr. K.D. Phuke Director ACKNOWLEDMENT I am grateful to my project guide Mr. Quazi Zubair sir for the interest shown by him, the inspiration & moral boosting through him really helped me in completion of my project study. I am also thankful to Director, Dr. K.D. Phuke sir for giving valuable suggestions during project study; He is always the source of inspiration to me. Last but not least, I am sincerely thankful to Mr. Vikas Roy and Mr. Sanjay Dixit and the entire staff member of Vishal Mega Mart and also I would like thank Mr. Abdul Raheem Aadil for his moral support & those who always gave me helping hand & suggestions for completion of this project. Mr. Mohammed Abdul Taufeeq MBA IV Sem. Declaration I hereby declare that this project study report submitted by me in my partial fulfillment of “Master of Business Administration” is a genuine work of mine. It has not been either fully or partly to this or any other institute prior, in any other connection. Mr. Mohammed Abdul Taufeeq MBA IV Sem. Contents • About Aurangabad • Objectives of the study • Importance of the project • Limitations of the study • Introduction of retail industry • Introduction of Vishal Mega Mart • The founders of Vishal mega mart • Infrastructure • Vishal Apparels Brand • Store strategy mix • The role of marketing in retail • Retail strategy and structure • Hypothesis • Research methodology • Primary data • Findings • Questionnaire for retailers • Questionnaire for customers • Suggestions • Conclusion • Bibliography About Aurangabad Founded in 1610 by Malik Ambar, Aurangabad was then known as "Khidki" meaning window. The city served the real purpose of its ancient name as the Mughals could look into the Deccan through it. Later in 1953 the city was renamed as Aurangabad when Aurangazeb took over the Deccan kingdom. Aurangabad is most famous for its historical monuments and caves. The most renowned tourists' attraction of Aurangabad is Bibi-Ka-Maqbara, built in memory of Aurangazeb's wife, Begum Rabia Durani. Among others there are Aurangabad Caves, Panchakki, Himroo Factory, Darwazas, Daulatabad Fort, Khuldabad, Shirdi, Grihneshwar Temple, Paithan, Ajanata and Ellora Caves, and History Museum of Marathwada University. DEMOGRAPHIC INFORMATION Geographical area Population Density population Distance from Major Cities Mumbai Pune Nashik Nagpur Hyderabad Nanded Ahmednager 364km 238 km 182km 500km 554km 264km 118km 10.107sqkm 29,20,548 Senses 2007 289 sqkm Industrial Information: There are five Special Economic Zones (SEZs) have been approved by central government for this city and these are, in Automobile (Bajaj), in pharmaceuticals (Inspira Pharma SEZ and Wockhardt), one in aluminium (Hindalco Aluminium) and yet another is Inspira Biotech SEZ. Electrical goods major Siemens will soon establish plant for manufacturing of metro train coaches. The city Of Aurangabad is also famous for the best Breweries in the world, Asia Pacific Breweries (Aurangabad) Ltd. Manufacturing the Famous Cannon 10000 Strong Beer is being enjoyed by almost all the foreign tourists visiting Aurangabad. The Main industrial areas of Aurangabad According to MIDC Act 1961, 1. Aurangabad (Railway station) 2. Chikalthana 3. Waluj 4. Paithan Road 5. Beed Road 6. Shaindra According Chamber of Marathwada Industries & Agriculture (CMIA) Major MIDC Areas in Aurangabad 1. Aurangabad (Railway station)(Group C) 34.95 hectors 1000/sqmt 600/sqmt Area of operation Commercial rate Residential rate 2. Chikalthana (Group C) Year of establishment Area of operation 1965 719.68 hectors Commercial rate Residential rate 1200/sqmt 900/sqmt Major plants like; Lupin Pharmacuticals, HUL, Indo-german, Wockhardt, Cosmofilm, BCL Spring, HP Gas Plant, Ck-Diakin, STPI. 3. Waluj (Group D) Year of establishment Area of operation Commercial rate Residential rate 1982-83 1518.47 hectors 1100/sqmt 900/sqmt Major plants like; Bajaj Auto Ltd., Colgate, Wipro, Kenstar, Ceat Tyres, Goodyear, Johnson & Johnson, etc Transportation: Intra city Transport: The busy Jalna road Aurangabad Municipal Transport (AMT) is an intra-city bus service which covers almost all parts of the city and also connects to the more distant industrial suburbs. AMT (Aurangabad Municipal Transport) intra-city buses ply throughout the city including the outskirts and connect different parts of the city and adjoining suburbs together. The AMT bus service is affordable, efficient and safe. The AMT buses are quite crowded during morning and evening rush hours. The "Maharashtra State Road Transport Corporation" (MSRTC) and numerous other private bus operators provide a bus service to all parts of the state. Metered auto rickshaws ply throughout the city. The fare is based on a meter and is computed by a tariff card available from the driver. Road: Aurangabad is well connected by roads with various major cities of Maharashtra and other states. National highway NH-211 (DhuleAurangabad- Solapur) passes through the city. Road connectivity is excellent and road connecting to Pune, Nagpur, Beed and Mumbai are being upgraded into four lane highway. Air: Now Aurangabad has an International Airport. Recently there were fights made available to all the people traveling to Haj pilgrimage. Aurangabad Airport has connecting flights to Delhi, Udaipur, Mumbai, Jaipur as well as Hyderabad Rail: AURANGABAD (Station Code: AWB) is a station located on the Kachiguda-Manmad section of Secunderabad (SCB) Division of South Central Railway (SCR). The Manmad-Kacheguda Broad gauge railway line which emanates from the Bombay-Bhusawal-Howrah trunk route at Manmad is an important artery of traffic in Aurangabad district. The importance of this line lies in the fact that it has opened for traffic the fertile agricultural tract in Marathwada region. It also serves as a link between Bombay and Secunderabad in Andhra Pradesh. As a matter of fact this line was formerly the only route of traffic as there were no good roads in the Marathwada region. This railway route was opened for traffic in 1900. After Divisional adjustments in 2003, which saw the bifurcation of Hyderabad division, Aurangabad now comes under the newly created Nanded(NED) Division of SCR. Aurangabad has rail connectivity with Manmad, Aurangabad, Nanded, Parbhani, Parli Vaijnath, latur, Osmanabad, Gangakhed, Mudkhed, Adilabad, Nagpur, Basar, Nizamabad, Nasik, Mumbai, Pune, Daund, Mahbubnagar, Kurnool, Kadapa, Renigunta, Tirupati, Katpadi, Erode, Madurai and Kachiguda (HYB). Ajanta Express between Kachiguda and Manmad is the most prestigious train passing through this station. The "Janashatabdi Express" is the fastest and most comfortable train option to and from Mumbai with a total traveling time of 6 1/2 hours. Three overnight trains and two daytime trains also travel between Mumbai and Aurangabad. Aurangabad has more number of trains to HYB than to any other city. Ajanta Express, Secunderabad Bi-Weekly Express, Kakinada Express, Devagiri Express, Hyderabad Passenger, Manmad-Kachiguda Passenger, OkhaRameswaram Express--all these trains connect AWB with HYB. OBJECTIVES OF THE STUDY 1) To search whether Aurangabad market is ready for organized retail. 2) To analyze market potential for organized retailers. 3) To study various services provided by retailers. 4) Satisfaction level of customers. 5) To study market share of organized retailers and unorganized retailers. 6) To define the probable market for a particular product and to find out general market condition and tendencies. 7) To assess the competitive strength and policies. 8) To study the buying potential & power of consumers. 9) To assess the probable volume for future sales. 10) To know the customer acceptance for organized & unorganized retailers. 11) To formulate all marketing costs, viz.-selling, advertising, Promotion and distribution cost. 12) To suggest improvable marketing strategies to Vishal Mega Mart IMPORTANCE OF THE PROJECT As the project was done in relation to retail market of Aurangabad It was asked to take up a topic that would have helped me to know the reason why unorganized retailers sales ratio is high compare to other organized retailers in the market. Therefore my topic was “A STUDY OF MARKETING STRATEGIES OF RETAIL COMPANIES TO DO BUSINESS IN AURANGABAD” The above topic helped me to understand the in and out of selling a product like FMCG, consumer durables, textile etc to the customer taking into consideration, likes and dislikes for shopping experience. Various factors such as product quality, cost, service, durability, convenience etc. affect the customer psychology while he makes a decision to go for an organized retail. LIMITATIONS OF THE STUDY The limitations of the study were as under:1) The study is not the actual representative of the company, as the question cannot be properly. Secondly the students are not fully aware of the policies and the working environment, as a result sometimes communication was not possible. 2) 3) The student sometimes is neglected and proper feedback is not received from the third parties. At times knowing the actual facts and figures become difficult if the company follow the policy of non-disclosures of every type of information. 4) INTRODUCTION OF RETAIL INDUSTRY The retail sector is also one of thee largest worldwide. The word ‘Retail’ is derived from the French word retailer, meaning to cut a piece off. Businesses that sell goods and services to consumers are included in the retail industry. Broadly speaking, the term “retailing” refers to any activity that involves a sale to an individual customer. Origins of retailing can be traced to local markets and roaming traders. The product range was restricted to whatever agricultural produce was made possible by the regional climate and local manufacturing skills. Enterprising and mobile traders ventured beyond, to peddle wares perceived by them to be in demand elsewhere. This tribe of moving traders brought product variety to the markets. Growth of large-scale retailers was fueled by the rapid spread of mass production. Brisk industrialization ensured replication of large volume production techniques. Improved transport facilities enabled retailers to gun for volume-driven procurement. This set the ball rolling for organized retailingtargeting economies of scale through bulk purchase and advertising led growth. With the growth in size, competition, product choice and technology to procure and manage operations platform. Retail trade plays a very important role in the economy of a country. In some parts of the world the retail business is dominated by smaller family run or regionally targeted stores, but now this market is being taken over by billion dollars multinational conglomerates like Wal-Mart, Sears, etc. the larger retailers have managed to set-up huge supply/distribution chains, inventory management systems, financing pacts, and wide scale marketing plans. The retail sector is also one of the largest worldwide. It is the second largest industry in the US both in terms of number of establishments and number of employees. It generates $3.8 trn in retail sales annually. Based on the nature of their retail operations, companies are grouped into-Retail (Apparel), Retail (Grocers), Retail (pharmacies), Retail (Department and Discount Stores), etc. The retail industry includes: Variety stores, Clothing retailers, Specialty retailers, Convenience stores, Grocery stores, Drug stores, Home furnishing retailers, Consumer electronic retailers, Auto retailers, and some e-commerce businesses (B2C), direct sales, catalog and mail order companies, and even seasonal retailers come under this category. Most of the present day retail giants started with one store and progressed to ten stores, or even 100 stores. Sears started as a single store, J.C. Penney’s, PETMART, Sherwin Williams, Macy’s, Bloomindales, and Lowe’s, each started as single stores. Wal-Mart started as a single store. It tops the list as the largest retailer in the world with 2003 sales of $258.68 bn. It employs more than a million associates and operates discount department stores and warehouse membership clubs. Its success is widely attributed to its superefficient logistics and smart application of IT. Home Depot, the home improvement retailer, created one of the most successful value propositions of the 1990’s. It targeted the unmet needs of do-it-yourselfers seeking value, convenience, selection and advice. The chain never aspired to offer the lowest price, but focused instead on being the single destination store. It retained its place as the second-largest US retailer, with 2003 sales of $64.82 bn. The second largest retailer in the world is France’s Carrefour. Royal A hold is the 3rd largest retailer in the world; it owns several chains throughout Europe, Asia, and North and South America. It is headquartered in the Netherlands. Another retailer-Sears is a well-diversified general merchandiser with interest in realty; credit card, insurance, automobile services, etc. Nordstrom is a specialty retailer that concentrates mainly in apparel and accessories for woman, men & children. It operates about 70 large specialty stores in US. It also operates Accountable Boutique in Europe. MARKS & SPENCER is a well recognized name in the UK and it has operations in more than 25 countries. It is one of the leading retailers of clothing, food, home ware and financial services. It operates more than 600 stores worldwide. It’s not that the industry has only big companies like WalMart, sear, etc...., but is highly concentrated with small stores. According to a recent estimate by std and poor’s(S&P), more than 80% of retailers employ less than 20workers each and they are mainly 1or 2-store setups. Vishal Mega Mart Vishal mega mart started as a humble one store enterprise in 1986 in Kolkata (erstwhile, Calcutta) is today a conglomerate encompassing 183 showrooms in 24 states / 110 cities .India’s first hyper-market has also been opened for the Indian consumer by Vishal. Situated in the national capital Delhi this store boasts of the single largest collection of goods and commodities sold under one roof in India. The group had a turnover of Rs. 1463.12 million for fiscal 2005, under the dynamic leadership of Mr. Ram Chandra Agarwal. The group had a turnover of Rs 2884.43 million for fiscal 2006 and Rs. 6026.53 million for fiscal2007. The group’s prime focus is on retailing. The Vishal stores offer affordable family fashion at prices to suit every pocket. The group’s philosophy is integration and towards this end has initiated backward integration in the field of high fashion by setting up a state of the art manufacturing facility to support its retail endeavors. Vishal is one of fastest growing retailing groups in India. Its outlets cater to almost all price ranges. The showrooms have over 70,000 products range which fulfills all your household needs, and can be catered to under one roof. It is covering about 29, 90, 146 sq. ft. in 24 states across India. Each store gives you international quality goods and prices hard to match. The cost benefits that is derived from the large central purchase of goods and services is passed on to the consumer The Founders Mr.Ramchandra Aggarwal Mrs.Uma Aggarwal Mr.Surendra Aggarwal Infrastructure: Vishal Retail Ltd. has a factory in Gurgaon, Haryana. This factory has more than 700 imported machines that have a capacity to manufacturer 150000 pieces a month. The factory occupies 80000 sq ft of covered space. The Vishal group indirectly gives employment to more than a 1000 people. These people work in ancillaries that supply finished goods to the company. Our 10 warehouses cater to 49 showrooms in 37 cities. These have a covered space of 11, 00,000 sq ft. By the end of March 2007 we will expand our outlets to 61 companies owned outlets and many franchise operations. VISHAL Apparels Brand Vishal Mega Mart is one of India’s fastest growing retail chains. The chain currently has 32 company stores in 26 cities in India. The Vishal brand is known for great modern style for men, women and children. Vishal offers high level fashion styling. Since 1986, our name has been synonymous with quality, value and fashion integrity. We offer an unparalleled collection of clothes for the entire family. Each garment is hand selected for quality and contemporary styling. Vishal manufactures majority of its own garments and out sources some under its direct quality supervision. This enables us to offer the lowest possible and most reasonable prices. Our goal is to provide a range of fashion wear to suit every pocket. Our product mix represents the most current fashion trends in tops, bottoms, formals and accessories for men, women and kids. Our courteous staff will ensure that consumers get a perfect fit. Store Strategy Mix Retailers can be classified by retail store strategy mix, which is an integrated combination of hours, location, assortment, service, advertising, and prices etc. The various categories are: {A:} Convenience Store: Is generally a well situated, food oriented store with long operating house and a limited number of items. Consumers use a convenience store; for fill in items such as bread, milk, eggs, chocolates and candy etc. {B:} Super markets: Is a diversified store which sells a broad range of food and non food items. A supermarket typically carries small house hold appliances, some apparel items, bakery, film developing, jams, pickles, books, audio/video CD's etc. The Govt. run Super bazaar and Kendriya Bhandar in Delhi are good examples of a super market. Similarly in Mumbai, we have Apna Bazar and Sahakari Bhandar. {C:} Department Stores: A department store usually sells a general line of apparel for the family, household linens, home furnishings and appliances. Large format apparel department stores include Pantaloon, Ebony and Pyramid. Others in this category are: Shoppers Stop and Westside. {D:} Specialty Store: Concentrates on the sale of a single line of products or services, such as Audio equipment, Jewellery, Beauty and Health Care, etc. Consumers are not confronted with racks of unrelated merchandise. Successful specialty stores in India include, Music World for audio needs, Tanishq for Jewellery and Dominos, Smokin Jeo’s and Nirula's for food services. {E:} Hyper Markets: Is a special kind of combination store which integrates an economy super market with a discount department store. A hyper market generally has an ambience which attracts the family as whole. Pantaloon Retail India Ltd. (PRIL) through its hypermarket "Big Bazaar” “Vishal Mega Mart” “More” offers products at prices which are 25% - 30% lower than the market price. THE ROLE OF MARKETING IN RETAIL In order to evaluate the role of Marketing in the area of retail, let us first start with some of the commonly quoted definitions of the term “marketing”. Philip Kotler defines Marketing as a societal process by which individuals and groups obtain what they need want through creating, offering and freely exchanging products and services of value with others. The American Marketing Association defines marketing as “the process of planning and executive the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals.” For these definitions, one can draw the conclusion that marketing has to do with providing the right product to the consumer, at the right place and time, which is largely what retailers believe that they are doing. Therefore, what is the role that marketing can play in a retail organization? The role of marketing in retail organization is two-fold. The first role that marketing can play for a retail organization is that of information the consumer that it exits. The second role that marketing plays for the retailer is enabling it to get closer to the end consumer. As the industry evolves and begins to focus on creating an experience for the end consumer, the elements of the marketing mix become increasingly important. Technology aids the understanding of consumer needs and preferences and at the same time, serves as the salient salesmen. Point-ofpurchase (P-O-P) signage and in-store media educate and draw the attention of the consumers towards a product’s availability and attributes. At a time when most consumers want more information and when retailers have reduced staffing levels, Retail Marketing performs a vital service and augments costreduction efforts. Retail Marketing is one of the few mass advertising media that can convey the same overall strategic message in differing languages, to varying audiences in the same village, city or region. Today’s P-O-P displays are easily assembled, maintain and, at the same time, more powerful in entertaining and informing in the retail environment. RETAIL STRATEGY AND STRUCTURE Successful retail operations depend largely on two main dimensions: margin and turnover. How far a retail enterprise can reach in margin and turnover depends essentially on the type of business (product lines) and the style and scale of the operations. In addition the turnover also depends upon the professional competence of the enterprise. In a given business two retail companies may choose two different margin levels, and yet both may be successful, provided the strategy and style of management are appropriate. {A:} Margin Turnover Model: Ronald R. Gist "Suggested a conceptual frame work, using margin and turnover, for understanding the retail structure and evolving a retail strategy." Margin is defined as the percentage mark tip at which the inventory in the store is sold and turnover is the number of times the average inventory is sold in a year. Fig. 2 is a diagrammatic representation of the frame work and can be applied to almost any type of retail business. Depending upon the, combination of the two parameters, a retail business will fall into one of the four quadrants. For instance L-L signifies a position which is low on both margin and turnover; whereas, H-L indicates high margin and low turnover. {B:} Low Margin High Turnover Stores Such an operation assumes that low price is the most significant determinant of customer patronage. The stores in this category price their products below the market level. Marketing communication focuses mainly on price. They provide very few services; if any, and they normally entail an extra charge whenever they do. The merchandise in these stores are generally pre-sold or self sold. This means that the customers buy the product, rather than the store selling them. These stores are typically located in isolated locations and usually stock a wide . range of fast moving goods in several merchandise lines. The inventory consists of well known brands for which a consumer pull is created by the manufacturer through national advertising. Local promotion focuses on low price. Wal-mart in the United States is an example and Pantaloon Chain or Subhiksha are Indian examples of such stores. {C:} High Margin Low Turnover This operation is based on the premise that distinctive merchandise, service and sales approach are the most important factors for attracting customers. Stores in this category price their products higher than those in the market, but not necessarily higher than those in similar outlets. The focus in marketing communication is on product quality and uniqueness. Merchandise is primarily sold in store and not pre-sold. These stores provide a large number of services and sell select, categories of products. They do not stock national brands which are nationally advertised. Typically, a store in this category is located in a down town area or a major shopping center. Sales depends largely on salesmanship and image of the outlet. {D:} High Margin High Turnover Stores These stores generally stock a narrow line of products with turnover of reasonably high frequency. They could be situated in a non commercial area but not too far from a major thoroughfare. Their locational advantage allows them to charge a higher price. High over head costs and, low volumes also necessitate a higher price. {E:} Low Margin-Low Turnover Stores Retail enterprises in this category are pushed to maintain low margins because of price wars. Compounding this problem is the low volume of sales, which is probably a result of poor management, unsuitable location etc. such businesses, normally get wiped out over a period of time. HYPOTHESIS  The hyper market and shopping malls are enabling to market the product throughout the city. An extra sale staff is major problem with this shopping mall’s like.   Due to the wrong selection of location they can not able to attract the middle class or higher middle class customers.  Lack of proper advertising.  Market Competition.  Poor schemes on products to attract costumers.  Negligible impact on Mom-and-Pop stores, due to the presence of organized retailing. RESEARCH METHODOLOGY “Systematic and scientific method of collecting new information called as research methodology.” the research which is doing is an analytical as well as quantitative type of research. ‘t’ test for comparison of means can be used only when there are two means will be compared but three or more means are to be compare then on the basis of mean ‘t’ test can not be used and in such case the techniques of analysis is useful which is popularly known as analysis of variances.(ANOVA) Analysis of variance is a statistical technique of parting or dividing total variance of any given data into number of components and then testing whether variation due to a particular component is significant or not. In this study I have selected 3 malls. Which are more than two variables, so here I cannot use‘t’ test, therefore, I used the analysis of variance(ANOVA) technique to do comparisons between malls for finding leading malls in (shopping) marketing sectors on their performance basis. PRIMARY DATA ♦ ♦ ♦ ♦ This data collected through the method of questioner. Questions are open ended. Sample size is 100. The primary data is collected through the samples which are conducted by survey at the Vishal Mega Mart and Aurangabad local retail market. DATA ANALYSIS FROM RETAILERS 1. Types of shop in Aurangabad? East Company outlet Franchisee Mega mart Departmental stores Multi brand shop Unorganized retail 2. 100 80 60 40 20 0 Your Source of Purchase? From Company From Distributor From Wholesaler 3. You order stock on? 50 40 30 20 10 Placing Order Weekly Basis Quarterly basis Monthly basis As per Requirement 0 4. Do you get discounts or other benefits on your purchase/procurement?? 80 70 60 50 40 30 20 10 0 Yes No Yes No 5. Your preferred media for promotional activities? 90 80 70 60 50 40 30 20 10 0 Print media Electronic media Print media Electronic media 6. What is your strong point compared to other retailers in the market? 60 50 40 30 20 10 0 Service Price Quality Promotion Series1 7. Which category of products sells the most at your Outlet/Shop? 4 5 4 0 3 5 3 0 2 5 2 0 1 5 1 0 5 0 F C p d cts M G ro u Cn mr o su e D ra le u b s T xtile e Fo od S rie e s1 8. Did you give any benefits to your employees? 20% Yes No 80% 9. Have you carried out any market survey/research to know about your customers’ needs/feedback? 30% Yes No 70% 10. Your sales get affected due to Recession? 35% Yes No 65% DATA ANALYSIS FROM CUSTOMERS 1. Family Income (per month):? Family Income (per month): 50 45 40 35 30 25 20 15 10 5 0 Upto 5000 Between 5000 to 10000 Between 10000 to 20000 Above 20000 Family Income (per month): 2. Name the retail stores which you visit on a regular basis? V itin S re o r g la B s is g to s n e u r a is 6 0 5 0 4 0 3 0 2 0 M a rt V itin S r so is g toe n re u r B s g la a is 1 0 0 R e li a n c B e ig B a z a a r n c e rs M e g a 3. Which factor influences your decision about choosing the retail mall/supermarket you visit? V is h a S p e l L o c a l Fcosfo V ii g h Mkt at r r i tn Te a e s r 4 5 4 0 3 5 3 0 2 5 2 0 1 5 1 0 5 0 Fcosfo V i i g at r r i tn s Te akt hM e r e m e n ts a lk / W c o is D V i t te a e i t o h Mr t s k h o m e fr ti s e e r ta n c A d v D is 4. How often do you visit a retail mall /Supermarket? 3 5 3 0 2 5 2 0 V i t te a e i t o h Mr t s k 1 5 1 0 5 0 5. What kind of goods do you prefer purchasing from retail outlets/Supermarkets? C a s u a l v is it u n ts o m in s G o sp fe top r h s b c s m rs o d re r uc a e y u to e 4 5 4 0 3 5 3 0 2 5 2 0 1 5 1 0 5 0 e ry G o spe r t o d r fe o p rc a eb c s m r u h s y u to es F u rn o m it e u C re A o p n p s lia u m n c e e r s e le c tr o n ic s c ts Better Advertisements It e m s 6. Which factor influences your decision about buying items at the retail malls/supermarkets? Factors influence on Decision for buying? 35 30 25 20 15 10 5 0 Quality & Brand Names Advertisements Discount Offers Past Experience with any product or service Factors influence on Decision for buying? 7. Whose Marketing campaigns /Advertisements are better? H C lo F th M e C s G P ro d u G ro c Malls Local Retail Shops / Provision Stores 8. Whose services are better? Better Service Malls Local Retail Shops / Provision Stores FINDINGS On the basis of above figures there are some analyses & findings • The above figures shows, good feedback from customers and retailers. Some high level customers regularly visit to the malls. Some middle class & higher class level customers visit to the mall especially at the time of good offers, and some discounts facilities. And some lower class level customers are ready to buy when there is high percentage of discounts. • • • Questionnaire for Retailers Name of the Shop: - _____________________________________________ Address:-_______________________________________________________ Phone No.:-______________________________________________________ Q1. Type of Shop: (Please mark tick on the answer) Company outlet Franchisee Departmental stores Multi brand shop Mega mart Unorganized retail Q2. You are operating Since: _______________________________________________________________ Q3. Branches in Aurangabad. (If Any) ________________________________________________________________ Q4. Your average daily Counter Collection/ Sales (in Rupees): __________ Q5. Your Source of Purchase: From Company From Wholesaler From Distributor Q6. You order stock on: Weekly Basis Monthly basis Quarterly basis As per Requirement Q7. Do you get discounts purchase/procurement? Yes No or other benefits on your Q8. Details of Promotional Activities carried out by you for attracting customers? __________________________________________________________ Q9. Your preferred media for promotional activities: Print media Electronic media Q10. What type of benefits do you offer to your customers? ___________________________________________________________ Q11. What is your strong point compared to other retailers in the market? Service Quality Price Promotion Q12. Which category of products sells the most at your Outlet/Shop? FMCG products Textile Consumer Durables Food Other Q13. Did you give any benefits to your employees? NO YES (Please mention some) ___________________________________________________________ Q14. Have you carried out any market survey/research to know about your customers’ needs/feedback? YES NO Q15. Your sales get affected due to Recession. YES NO Q16. Remarks or Feedback, if any: ___________________________________________________________ Signature & Stamp: Questionnaire for Customers Name:-_______________________________________________________ Age: - _______________________________________________________ Gender: Education: Male Female _____________________________________________ Profession: - ___________________________________________________ Address:-_______________________________________________________ Phone No.:-___________________________________________________ Marital status: Single Married No. of members in your family: Adults: ______________ Children: _____________ Family Income (per month): Upto 5000 Between 5000 to 10000 Between 10000 to 20000 Above 20000 Q Q1. Please name the retail mall(s) which you visit on a regular basis: V Vishal Mega Mart B Big Bazaar S Spencers M More Reliance Q2. Which factor influences your decision about choosing the retail m mall/supermarket you visit? D Distance from home Advertisements A D Discounts Casual visit / Walk-ins Q Q3. How often do you visit a retail mall /Supermarket? D Daily W Weekly F Fortnightly M Monthly O Only on Offers Rarely Q4. On an average, how much time do you spend in a retail outlet per v visit? H Half an hour 1 1-2 hours 2 2-3 hours More than 3 hours Q5. What kind of goods do you prefer purchasing from retail o outlets/Supermarkets? G Grocery Items F Furniture Home Appliances C Consumer electronics Clothes C Financial Products Q6. Which features / Qualities / Facilities of a retail outlet / Supermarket do you like the most? Kindly rank the following according to your order of liking / preferences: Please write ranks 1-10. ________ ATM/Debit/Credit card facility ________ Information Displays ________ Product Displays ________ Courteous people ________ Variety of products available ________ Discounts/Low Prices ________ Quality of products available ________ Free Home Delivery Q2. Which factor influences your decision about buying items at the retail m malls/supermarkets? Q Quality & Brand Names A Advertisements D Discount Offers Past Experience with any product or service Q Q8. Whose Marketing campaigns /Advertisements are better? M Malls Local Retail Shops / Provision Stores Q9. Whose services are better? M Malls Local Retail Shops / Provision Stores Q10. How is the product knowledge of the sales staff of retail outlets/supermarkets? Good Average Poor Q11. Remarks or Feedback about ____________________________________________________ Products and Services of Retail Malls: ____________________________________________________ ____________________________________________________ Signature of the Respondent: SUGGESTIONS The over all performance of Vishal Mega Mart is satisfactory. But, there are few suggestions, which I would like to put forward. 1: Vishal Mega Mart has to improve on their marketing skills; like emphasis on paper advertisements, local FM channels and electronic media. 2: Secondly, they have to provide knowledge about each & every products to their sales executives. 3: For training purpose they should arrange some special recruiting & training programs. 4: They should improve the range of their products in the Electronic Division. 5: I would also suggest Vishal Mega Mart that their FMCG products are coming all the way from other cities, so it costs them a lot and I suggest them to buy the FMCG products from the local producers. It will reduce the transportation cost and the price of FMCG will can be reduced. And it is beneficial to the customers also. 6: At the last as they say, Customer is the King, Vishal Mega Mart must rigorously work on customer satisfaction. CONCLUSION I conclude that above suggestions can really drive Vishal Mega Mart and use of this kind of application shows the capability of the shopping malls towards capability the services provided to the customers. Introduction of this type of systems can really be useful in any kind of industry & particularly in shopping malls, and has made its importance which also helps in making strategies decisions which in making strategies decision which in turn leads the organization in the competitive market. Thus, they can have solution without any kind of communication with the associates and this kind of application can really raise the awareness of the retailers to find out where they stand in the marketplace. Further with the innovation of marketing strategies of malls in deep sense can also make the hypermarket accurate and more useful in order to develop the business. BIBLIOGRAPHY 1} BOOKS OF KOTHARI FOR RESEARCH METHODOLOGY. 2} RETAIL MANAGEMENT FROM (SWAPNA PRADHAN): 3} MARKETING MANAGEMENT, BY PHILIP KOTLER 4} WEBSITES: www.google.co.in www.vishalmegamart.com MOHAMMED TAUFEEQ