“A study to know about the Customers’ awareness about Haldia Big Bazaar and their Purchasing habits”
Industry Name
BIG BAZAAR
(A division of Pantaloon Retail (India) Ltd.)
AKASH GANGA COMPLEX,
MANJUSHRI, HALDIA,
WEST BENGAL.
A Project Submitted For Partial Fulfillment of
Post Graduate Program in Business Management
PGPBM (2006-2008)
SUBMITTED TO:
ASIAN SCHOOL OF BUSINESS MANAGEMENT
SHIKSHA VIHAR, BHOLA CHHAK,
CHANDAKA,
BHUBANESWAR
SUBMITTED BY:
SOUMYA PRAKASH NAYAK
PGPBM
BM/06/050
Industry Guide Faculty Guide
Mr. Suryadepta Mazumdar Prof. S.S.P. Chaganty
Assistant Store Manager, Asian School of Business Management,
Haldia Big Bazaar, Haldia. Bhubaneswar.
Student Name
Soumya Prakash Nayak
Roll No. - BM/06/050
PGPBM
Asian School of Business Management
Bhubaneswar.
Contents
Page No.
Declaration 4
Acknowledgement 5
Executive Summery 6 - 7
Introduction of Retail Industries 8
Introduction of PRIL 9 – 10
Review of Literature 11
Marketing Research 12-17
An Introduction
· The Marketing Research Process
Questionnaire 18 - 20
Sampling Plan 21 - 22
Graphical Representation 23-36
Economics 37
SWOT Analysis 38
Recommendation 39-40
Results 41
Discussion & Conclusion 42
Bibliography 43
Declaration
I Soumya Prakash Nayak bearing roll no.-BM/06/050 declare that I have done this project of my own and have not used by any unfair means to accomplished the project and I declare that what ever I have stated in this project report are true to best of my knowledge.
Signature
Acknowledgement
First of all I would like to thank my beloved Director Prof. Biswajeet Pattanayak for providing me opportunity to work on this topic.
I express my sincere gratitude and profound thankfulness to my Faculty guide supervisor Prof. S.S.P. Chaganty for his valuable advice and sincere guidance through out preparation of this dissertation.
I also express my deepest gratitude to my External guide Mr Suryadipta Mazumdar & all employees of Haldia Big Bazaar and also to all of my friends for giving their valuable time to me in the fulfillment of my dissertation.
Soumya Prakash Nayak
Executive Summary
In Haldia major places are covered by villages and the place is not so modernised. When asked people to answer some few questions they became afraid. Here the perception of people is like this, Big Bazaar is a shopping mall which has developed only for the richest people. This market research study shows the awareness of customer about the Big Bazaar and their purchasing habits. At the time of Market survey I have found that most of the respondents were just aware about the Haldia Big Bazaar and they visited only for 2 or 3 times. Here people are not much aware about the kinds of offers provided by Big Bazaar.
Segmentation:
In Haldia major people are lower middle class and around 41% of respondent’s having less than Rs 10,000/- (P.M.) income level, only 38% respondent are middleclass income group and only 19% who are coming under higher middle class. Hence it suggest that people are not showing more interest to word purchasing of different types of product due to low income.
Preference and Customer Satisfaction:
Most of people are satisfied with the products and service provided by Big Bazaar. When asked 64% respondents told they prefer to shop there clothes from Super market or Shopping mall mainly from Big Bazaar and 70% respondents told they prefer to purchase more food items from food bazaar. Where 15% respondents are don’t like to purchase from Big Bazaar and Food bazaar due the price and quality factors. Those 15% told that they are getting the same product with some chip rate from out side retail stores.
This market survey also shows the purchasing habits of Haldia customers. Where 87% of people like to purchase food items weekly only 13% respondent told that they prefer to purchase home linen weekly. It shows that people here only prefer to purchase food item more not other home products.
Customer awareness:
Customer awareness is the major aspect of every business. Here in Haldia the level of awareness among people is quite good. This report shows the level of awareness of customer about the Haldia Big Bazaar and the promotional activities of both indoor and outdoor. The report also shows the brand awareness and the percentage of respondents have preferred to purchase branded products mainly the electronic goods from branded outlets.
Purchasing Habits of Customer:
This report shows the purchasing habits and there monthly expenditure on several products like Food items, Home linen, Plastics/Utensils/ Crockery, Books, Electronics, Mobile, Furniture, Gold and Gift items.
Consumer Behavior:
People at Haldia are quite advance in their thinking process. The income level of people living at Haldia is sound, but they have less purchasing power. There are approximately 4 to 5 percent people who like to purchase there needy items in regular basis. I have found out that only the above percentage of people was used to come Haldia Big Bazaar in regular basis.
Introduction of Indian Retail Industries
Retail is India’s largest industry, accounting for over 10 per cent of the country’s GDP and around eight per cent of the employment. Retail industry in India is at the crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. But because of the heavy initial investments 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 favorable and emerging technologies are facilitating operations. Retailing in India is gradually inching its way toward becoming the next boom industry. The whole concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. Modern retail has entered India as seen in sprawling shopping centers, multi-storeyed malls and huge complexes offer shopping, entertainment and food all under one roof. The Indian retailing sector is at an inflexion point where the growth of organized retailing and growth in the consumption by the Indian population is going to take a higher growth trajectory. The Indian population is witnessing a significant change in its demographics. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key growth drivers of the organized retail sector in India.
Introduction of Pantaloon Retail (I) Ltd.
Pantaloon Retail (India) Limited, is India's leading retail company with presence across multiple lines of businesses. The company owns and manages multiple retail formats that cater to a wide cross-section of the Indian society and is able to capture almost the entire consumption basket of the Indian consumer. Headquartered in Mumbai ( Bombay), the company operates through 4 million square feet of retail space, has over 140 stores across 32 cities in India and employs over 14,000 people. The company registered a turnover of Rs2019croreforFY2005-06. Pantaloon Retail forayed into modern retail in 1997 with the launching of fashion retail chain, Pantaloons in Kolkata. In 2001, it launched Big Bazaar, a hypermarket chain that combines the look and feel of Indian bazaars, with aspects of modern retail, like choice, convenience and hygiene. This was followed by Food Bazaar, food and grocery chain and launch Central, a first of its kind seamless mall located in the heart of major Indian cities. Some of its other formats include, Collection I (home improvement products), E-Zone (consumer electronics), Depot (books, music, gifts and stationary), all (fashion apparel for plus-size individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories). It has recently launched its retailing venture, futurebazaar.com.The group's subsidiary companies include, Home Solutions Retail India Ltd, Pantaloon Industries Ltd, Galaxy Entertainment and Indus League Clothing. The group also has joint venture companies with a number of partners including French retailer Etam group, Lee Cooper, Manipal Healthcare, Talwalkar's, Gini & Jony and Liberty Shoes. Planet Retail, a group company owns the franchisee of international brands like Marks & Spencer, Debenhams, Next and Guess in India.
Pantaloon Retail is the flagship enterprise of the Future Group, which is positioned to cater to the entire Indian consumption space. The Future Group operates through six verticals: Future Retail (encompassing all retail businesses), Future Capital (financial products and services), and Future Brands (management of all brands owned or managed by group companies), Future Space (management of retail real estate), Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media).
Future Capital Holdings, the group's financial arm, focuses on asset management and consumer finance. It manages two real estate investment funds (Horizon and Kshitij) and consumer-related private equity fund, Indivision. It also plans to get into insurance, consumer credit and other consumer-related financial products and services in the near future.
Future Group's vision is to, "Deliver Everything, Everywhere, Everytime to Every Indian Consumer in the most profitable manner." One of the core values at Future Group is, 'Indianess' and its corporate credo is – Rewrite rules, Retain values.
Big Bazaar:
Big Bazaar is not just another hypermarket. It caters to every need of every Indian family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers.
At Big Bazaar, one will definitely get the best products at the best prices - that’s what Big Bazaar guarantee. With the ever increasing array of private labels, it has opened the doors into the world of fashion and general merchandise including home furnishings, utensils, crockery, cutlery, sports goods and much more at prices that will surprise every body. And this is just the beginning. Big Bazaar plans to add much more to complete every customer’s shopping experience.
Review of Literature
Introduction of Indian Retail Industries: Retail is India’s largest industry, accounting for over 10 per cent of the country’s GDP and around eight per cent of the employment.
Introduction of Pantaloon Retail (I) Ltd: Pantaloon Retail (India) Limited, is India's leading retail company with presence across multiple lines of businesses. The company registered a turnover of Rs2019croreforFY2005-06.
Marketing Research: Marketing research is the systematic design, collection, analysis, and reporting of data and finding relevant to a specific marketing situation facing the company.
Research Methodology: Survey method has used here to collect the information.
Analysis of Procedure: Assemble Data Bringing Data into order Summerised the Data then Analyse the Data
Examine differences
Analyse experimental Data
Investigate Association
Market Research Process: Define the problem and Research objectives Develop
the research plan Collect the information Analyse
the information Present the finding
Sample Size: The total sample size of this Market research is 1008.
Questionnaire: Here the research instrument I have used is questionnaire. In this questionnaire I have used open ended questions.
Statistical Method: Here I have used the Graphical representation as Statistical method to define the research result.
SWOT Analysis: The last but not the list I have made a SWOT analysis of my studies and provided the Recommendations.
Marketing Research
An Introduction
Marketing research is the systematic design, collection, analysis, and reporting of data and finding relevant to a specific marketing situation facing the company. Understanding markets and customers is the bedrock on which business planning and strategy is built. Without knowing the customers needs and wants or understanding demand, the business will be under constant threat from competitors and may be failing to extract the maximum value from the market. Market research does not sit in a vacuum. The design and outcomes of a market research project have to reflect not just the results from the data, but the way in which the organization could and should use the data. The aim of market research should not just be about identifying areas of customer demand; it also has to identify areas that can be profitably exploited. This means understanding something of the real business implications and existing business practices. Communication and sharing of results, understanding production and supply implications and identifying stakeholders and influencers for the research are all important in making a research project successful.
Research Methodology:
This section of survey puts emphasis on the procedure that has been followed by me during the Research study. This facilities a reader to understand the project work easily and clearly. The methodologies that have been used in the research study as follows.
ü Research design used
ü The sampling procedure
ü Questionnaire design
ü Data collection procedure
ü The analysis procedure
Research Design used:
The type of research design used by me to gather information or data for this project can be termed as Descriptive Research. Descriptive research includes surveys and fact finding enquiries of different kind. The major purpose of descriptive research is description of the state of affaires as exist as present. Therefore I have adopted the questionnaire method and surveyed more number of people.
The main characteristics of the research are the researcher has not control over the variables. The researcher can only report what has happened or what is happening. One point to be noted is that there is no signal standard and correct method research until he finds out the proper approach because there are pretty good number of way to tackle a problem. There is no single project design which will provide with a single standard and correct method of carrying out a piece of research.
The Sampling procedure:
It is not possible for a researcher to collect data from every number of populations for a particular research due to type monetary constraint as well as unnecessary completion and elongation of the study though it may give accurate conclusion. The research was done by sampling method. Where instead of taking every element of populations, a representative sample represents the characteristics of the population.
The basic task of the researcher is to decide on the sampling unit to be chosen which a crucial judgment is ofcource. The following questions are to be answered first before choosing the sample units.
ü Who are to be surveyed?
ü The sample size
ü Sampling procedure
ü The best method of sampling
Here I have used simple random sampling for the purpose of data collection.
Simple Random Sampling:
This type of sampling is also known as chance sampling or operability where is and every item in the population has an equal chance of inclusion in the sample and each one of the possible samples, in case of finite universe, has the same probability of being selected.
The Analysis procedure:
The analysis procedure is very important. From the analysis part only the analyzed data’s gives a meaningful answer.
Examine differences
Investigate association
Assemble Data
Bringing the data into order
Summaries the data
Analyze the Data
Analyze experimental Data
The Marketing Research Process: Effective marketing research involves the five steps:
Develop the research plan
Collect the Information
Define the problem and research objectives
Analyze the Information
Present the finding
Step 1: Define the problem and research objectives
Before doing any marketing research we should first define our research problem and the research objectives. Here in Haldia Big Bazaar the major problem is less no. of customer visit to Big Bazaar and very low growth rates in sales. Our research objective is to understanding the consumer awareness about Haldia Big Bazaar and the general purchasing habits of the people.
Step 2: Develop the Research Plan
The second stage of marketing research calls for developing the most efficient plan for gathering the needed information.
Data Sources. The researcher can gather secondary data, primary data, or both. Secondary data are data that were collected for another purpose and already exist some where. Primary data are data gather for a specific purpose or for a specific research project.
Here I am using the primary data in my research work. Here I have used the normal procedure to interview some people individually or in a group to get a sense of how people feel about the topic in question and then develop a formal research instrument, debug it, and carry out in the field.
Research Approaches. Primary data can be collected in five ways:
ü Observation
ü Focus groups
ü Surveys
ü Behavioral data
ü Experiments
From above five approaches I have used one approach in my project report i.e.
ü Surveys
Survey research:
Surveys are suited for descriptive research. Companies undertake survey to learn about people’s knowledge, beliefs, preferences, and satisfaction, and to measure these magnitudes in the general population.
Research Instruments. Marketing research has a choice of two main research instruments in collecting primary data.
Ø Questionnaires
Ø Mechanical devices
From above two research instruments I have used questionnaires as my research instrument.
Questionnaires: A questionnaire consists of questions presented to respondents for their answers. Because of its flexibility, the questionnaire is by far the most common instrument used to collect primary data. Questionnaire needs to be carefully developed, tested, and debugged before they are administrated on a large scale.
In preparing a questionnaire, we should carefully chose the questions and there form, wording and sequence. The form of the question asked can influence the response. There are two types of question those are
Ø Closed-end question
Ø Open-end question
Closed-end questions prespecify all the possible answer. Closed-end questions provide answers that are easier to interpret and tabulate.
Open-end questions allowed respondents to answer in their own words. Open-end questions reveal more because they do not constrain respondent’s answer. Open-end questions are especially useful in exploratory research, where the researcher looking for insight into how people think rather than in measuring how many people think a constrain way.
Open-end questions are seven types:
Dichotomous: A question with two possible answers.
Example: Have you heard of Big Bazaar? (a) Yes (b) No
Multiple Choices: A question with three or more answers.
Example: Where do you like to go during weekends?
Picnics ( ) Movies ( ) Shopping ( ) Parks ( ) Others (---------)
Semantic Differential: A scale connecting two bipolar words. The respondent selects the point that represents his or her opinion.
Example: Haldia Big Bazaar Large----Small, Well displayed system----Poor, Interesting----Boring.
Importance Scale: A scale that rate the importance of some attribute.
Example: Rate the attributes you look for, as per the satisfaction level, while shopping?
Exchange Facility of Big Bazaar
1- very dissatisfied 2- dissatisfied 3- neither satisfied nor dissatisfied
4- Satisfied 5- very satisfied.
Rating Scale: A scale that rates some attributes from “poor” to “excellent”.
Example: Customer service of Big Bazaar is
1-Excellent 2- Very good 3- Good 4-Fair 5-Poor
Intention-to-buy: A scale that describe the respondent’s intention to buy.
Example: If Pantaloon will start the online shopping facilities, I would
Definitely buy (1), probably buy (2), Not Sure ( ), probably not buy ( ),
Definitely not buy ( )
The questionnaire should use simple, direct, unbiased wording and should be pretested with a sample of respondents before it is used. Here I have used open-ended question in my questionnaire.
The questionnaire that I have used in my marketing research has given below:
Questionnaire
1. Name:
2. Age:
3. Address:
4. Gender: (a) Male (b) Female
5. Education:
6. Family Income (Per month):
(a)
7. Occupation:
(a) Student (b) Salaried Person (c) Business Person (d) Professional
(e) Home maker
8. No. of Family members:
9. Which news paper do you read?
(a) Times of India (b) The Telegraph (c) Ananda Bazar Patrika
(d) Bartaman (e) Ganashakti (f) Aaj Kaal (g) Protidin (h) Others --------------------
10. Where do you like to go during weekends?
Picnics ( ) Movies ( ) Shopping ( ) Parks ( ) Others (---------)
11. Do you own the followings?
Two wheeler, Four wheeler, Refrigerator, DVD, Television, Microwave
12. Where do you bye your groceries and vegetables?
(a) Local market (b) Main market
13. What kind of clothing do you prefer to wear?
Men : Jeans, Formal, Casual, Ethnics
Female: Sarees, Salwar suits, Jeans, Skirts, Trousers, etc.
14. Where do you purchases from?
(a) Brand outlets (b) Super markets (c) Convenient stores
15. Where do you prefer buying your electronic goods from?
(a) Brand outlets (b) Local shops
16. Rate the attributes you look for, as per the satisfaction level, while shopping?
Attributes
1
2
3
4
5
Convenient location
Customer service
Price
Promotional activities
Availability of Branded products
Ambience
Availability of wide variety
Exchange facility
Parking facility
Store timing
Eatery/Café
Fast billing
Where 1- very dissatisfied 2- dissatisfied 3- neither satisfied nor dissatisfied
4- Satisfied 5- very satisfied
17. Your average monthly expenditure on the following items?
Items
Price
Food
<500
500-1000
>1500
Apparels
<500
500-1000
>1500
Home Linen
<500
500-1000
>1500
Plastics/Crockery/Utensils
<500
500-1000
>1500
Electronics
<500
500-1000
>1500
Furniture
<500
500-1000
>1500
Mobiles
<500
500-1000
>1500
Books/Music/Stationary
<500
500-1000
>1500
Gifts
<500
500-1000
>1500
Gold
<500
500-1000
>1500
18. How often do you shop for the following items?
Items
Weekly
Monthly
Quarterly
Food
Apparels
Home linen
Plastics/crockery/utensils
Books/Music/Stationary
Gifts
19. Have you heard of Big Bazaar? (a) Yes (b) No
20. Have you visited Big Bazaar in HALDIA?
(a) Yes (b) No
Thank you for taking the time to complete this form.
Sampling plan. After deciding on the research approach we must design a sample plan. This plan calls for three decisions:
1. Sampling unit: Who is to be surveyed? The marketing researcher must define the target population that will be sampled. In this survey the sampling units are students, service personnel, professionals, and house wives. Here all age groups have interviewed. Once the sampling unit is determined, a sampling must be developed so that everyone in the target population has an equal or known chance of being sampled.
Sample Size: How many people should be surveyed? Large samples give more
reliable results than small samples. However, it is not necessary to sample the entire target population or even a substantial portion to achieve reliable results. Samples of less than 1 percent of a population can often provide good reliability, given a credible sampling procedure. In this survey I have taken total no. of sample size of 1008 people, who are interviewed.
Step 3: Collect the information
The data collection phase of marketing research is generally the most expensive and the most prone to error. In the case of surveys, four major problems arise. Some respondent will not be at home and must be recontacted or replaced. Other respondent will refuse to cooperate. Still other will give biased or dishonest answers.
Here I have collected information by using survey method. First survey I had done at Haldia township market called “Mohana Market”, it is a big and regular market of that place. People here prefer to purchase there groceries and vegetables basically from Mohana market. When I had survey there I have find out that people are quite cooperative. Some people were used to avoid answering to the survey questionnaire. But here most of the people are well educated and those people were answered the entire question correctly what actually they have.
Second I had done at “Durgachak Market” and here I have found out that people are not well educated and very less cooperative. Here I experienced that most people are not interested to answer the questions that I had. There were also some people whose were not given the accurate answer to the question.
Third I had done at “CPT (Calcutta Port Trust)” market. Here people are not very much cooperative and they were felling afraid to answer the question. People who are educated they answered the question with more pleaser and they also give their suggestion about some new entertainment facility should be introduced in Big Bazaar.
Fourth survey I had done at “Chaitanyapur Market” and here I had found out more response. People of this area is very cooperative and showing their interest to answer most of the question frequently. In this area I had found that most of the people are satisfied with Haldia Big Bazaar.
Graphical Representation of Research Data
Age Groups
Young (18-30) Middle (31-50) Old (50 and onwards)
60.11% 32.14% 7.74%
Income Level
41.8% 38.7% 19.5%
The above graph shows that in Haldia major people are lower middle class and around 41.8% of respondent’s having less than Rs 10,000/- income level, only 38.7% respondent are middleclass income group and only 19.5% who are coming under higher middle class. Hence it suggest that people are not showing more interest to word purchasing of different types of product due to low income.
People purchases groceries and vegetables items from Local & Main market
Local Market Main Market
75% 25%
From the above figure it is clear that 75% of respondents are prefer to purchase groceries and vegetables items from Local market and only 25% are prefer to purchase from main market.
Clothes people like to wear
Male: Jeans Formals Casuals
32% 15% 35%
Female: Jeans Sarees Salwar suit
6% 8% 4%
In Haldia people (Men) are quite interested to wear Jeans. This survey shows 32% people prefer to wear Jeans. Here people are mostly preferred to wear Casuals. Where women are prefer to wear Sarees.
People prefer to purchase their dress item from different shop
(a) Brand Outlet (b) Super Market (c) Convenient Store
22% 64% 14%
In Haldia people are not so modern or we can say they are not so aware about the most popular brands available in market. Here brand outlet is very few in number. The survey report shows that here brand awareness among people are very poor. That the main reason that people of Haldia are prefer to by there dress materials or clothes from super market. The survey report shows that 64% respondents are prefer to purchase their clothes from super market.
People prefer to purchase Electronic goods from different outlets
(a) Branded outlets (b) Local shop
48% 52%
Average monthly expenditure of people on the Food items
(a) <500>1500
In Haldia 67% people are spending Rs 500 – Rs 1500 in food items where only 23% people are like to spending more than Rs 1500 and there are also some people who are only able to spend less than Rs 500 in food items.
The study has suggested that here customer’s have quite interested to spend more in food items. They have some less buying habits.
Average monthly expenditure of people on the Apparels
(a) <500>1500
Average monthly expenditure of people on the Home linen
(a) <500>1500
Average monthly expenditure of people on the Plastics/Crockery/Utensils
(a) <500>1500
Average monthly expenditure of people on the Electronics
(a) <500>1500
Average monthly expenditure of people on the Furniture
(a) <500>1500
Average monthly expenditure of people on the Mobiles
(a) <500>1500
Average monthly expenditure of people on the Books/Music/Stationary
(a) <500>1500
Average monthly expenditure of people on the Gift items
(a) <500>1500
Average monthly expenditure of people on the Gold items
(a) <500>1500
Frequency of Shopping
People prefer to purchase Food Items
(a) Weekly (b) Monthly (c) Quarterly
People prefer to purchase Apparels
(a) Weekly (b) Monthly (Quarterly)
People prefer to purchase Home Linen
(a) Weekly (b) Monthly (c) Quarterly
People prefer to purchase Plastics/ Crockery/Utensils
(a) Weekly (b) Monthly (c) Quarterly
People prefer to purchase Books/Music/Stationary
(a) Weekly (b) Monthly (c) Quarterly
People prefer to purchase Gifts
(a) Weekly (b) Monthly (c) Quarterly
Economics
Ø Estimated population: According to the 2001 census provisional courts, the urban agglomeration around Haldia has a population of 176667 in 2005.
Ø The figure includes the population of city-Township to Sutahata.
Ø It is one of the largest oil refinery centres.
Ø The manufacturing plant of Tata Chemicals, Mitsubishi and Exide.
Ø Among other notable industries are Swal Corporation Ltd., Haldia, Consolidated Fibers & Chemicals Ltd, Petro-Carbon & Chemicals Ltd, and MCC PTA India Corpn. Pvt. Ltd, Haldia Petrochemicals Ltd, IOC Petronas Ltd, South Asian Petrochemicals Ltd, Greenways Shipping Agencies Pvt. Ltd., IBP Co. Ltd., Haldia, Hindustan Petroleum Corporation Ltd, Bharat Petroleum Corporation Ltd., Hindustan Lever Limited, Marcus Oils Chemical Pvt. Ltd., Reliance Industries Limited.
Ø Haldia has a burgeoning manufacturing industry.
Ø Japanese companies are also coming to Haldia to set-up their plant.
Swot Analysis:
Strength:
ü Haldia is a destination of many big Industries like Petro-Carbon & Chemicals Ltd, and MCC PTA India Corporation Pvt. Ltd, Haldia Petrochemicals Ltd, IOC Petronas Ltd, Greenways Shipping Agencies Pvt. Ltd., IBP Co. Ltd., Haldia, Hindustan Petroleum Corporation Ltd, Bharat Petroleum Corporation Ltd., Hindustan Lever Limited, Marcus Oils Chemical Pvt. Ltd., Reliance Industries Limited.
ü In Haldia town ship the income level of people is good, because all people living in township worked at any of the above industries.
ü The education level of people is good.
ü The Haldia Big Bazaar is situated at the big Market complex of the Haldia city where many Banking, Insurance and other big Companies are established.
ü The market segmentation of Haldia Big Bazaar is quite interesting.
ü It segments all age groups and income groups.
ü It has welled design store of 34sqft and well organized store.
ü The Haldia Big Bazaar has good manpower of 135 employees whose are more talented and they have more skills of selling and handling the customer.
ü More verity of products are available in huge quantity in both Big Bazaar and Food bazaar of Haldia.
Weakness:
ü Haldia is a city of 2, 00,000 population. The figure indicates the low population of Haldia.
ü People are not so modern in Haldia and their perception is quite advance.
ü The Haldia Big Bazaar is situated very near to the village area.
ü Here the perception of the people is quite low, because from my marketing research report I have found out that most of the respondents think that Big Bazaar is only for rich people not for poor are middle class people.
ü The Big Bazaar is situated at 15km away from the town ship where more educated and higher income groups of people are living. So it shows the Place problem.
Opportunity:
ü Here the main opportunity is that now many big companies are coming here to established there manufacturing industries.
ü Many oil and chemical industries are interested to come here for oil and chemical industries.
ü So we can say that it is a big and also popular Industrial area of Eastern region of India which is the big opportunities for Haldia Big Bazaar.
Threat:
ü In Haldia there are more cooperative consumer stores are situated which may be a threat of Big Bazaar, because people are purchasing some product in cheep rate from that store.
ü Now one of the big industries of India i.e. Reliance has came Haldia to open his Retail store and this is a big threat for Haldia Big bazaar.
Recommendation:
It is no doubt that Pantaloon Retail India LTD is the retail giant of Indian retail industries and Big Bazaar is the most popular retail store of India. But now the competition is rampant particularly in retail market. More company are lunching there retail concept like Reliance Retail, the world Retail hero Wal-Mart is coming with a joint venture with the most popular telecom hero Bharti, Birla is already in the market and waiting for a big fight in retail market.
Now the time is come Pantaloon should think something called out of Box thinking which will help it to become the real hero of retail world. Pantaloon is a more experienced retail company and already being popular by its one big store i.e. Big Bazaar. Big Bazaar is a value format of Pantaloon. Still now there is long way to go so particularly the Haldia Big Bazaar should develop mere idea to increase its growth.
ü Haldia Big bazaar should develop the more outdoor promotional activities. Now Haldia Big Bazaar has already stated it but it need more specialized and mature.
ü It should adopt the most effective media from all the advertising Medias like Print media, Electronic media, and Paper media for advertisement or for its promotion.
ü It should more focus on after sale service of electronic, furniture, mobile and those products that have a need of after sale service.
ü It should try to make a long lasting relationship with its target and satisfied customer by providing best customer service.
ü It should establish a club for its customer by auto membership system. The system is like this; those customers can be a member of that club who will purchase minimum of Rs 1, 00, 000 or above amount of products within two months from Big Bazaar. Big Bazaar should provide a card to them who will purchase minimum Rs4000 amt of product in one day that customer can take that card by free. Through this card it will record the customer’s purchase quantity. After that Big Bazaar should arrange a yearly one day party for all those big customers.
Results
This report shows that people at Haldia are quite advance. The peoples’ awareness about the Haldia Big Bazaar is satisfactory but the purchasing habits are not there among people. Here some people are only aware about the Big Bazaar rather its promotional activities like offer systems.
Discussion & Conclusion
The marketing research report shows the customer awareness and their purchasing habits. But still there are many customers are there they are not much aware about the system of the Big Bazaar mainly the offer system. Hence Big Bazaar should more focus about the promotional activities of both indoor and out door. Now it has already started the out door promotional activities and also there is some improvement has physible in the customer footfalls to the Haldia Big Bazaar. Now it is improving like any thing. The Big Bazaar should try to retain there customers by improving the all over strategy.
After introduction of two effective promotional activities, one is Price Challenge offer and Flat 50% off offer, now many people are realise that the offer that Big Bazaar is providing they will never get that from other out side retail shops. Now many people are prefer to regularly visit to Haldia Big Bazaar. Hence now there is an increase in both foot falls and conversion rate of customer at Haldia Big Bazaar.
Bibliography
Marketing Management- Philip Kotler
http://www.marketresearch.com
http://www.researchandmarket.com
http://www.mareketresearchreport.com
http://www.pantaloon.com
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