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PROJECT ON CONSUMER BEHAVIOUR AT BIG BAZAAR

GITAM INSTITUTE OF MANAGEMENT GITAM UNIVERSITY VIsakhapatanam

Submitted By:

P.Goutham MBA

ACKNOWLEDGEMENT

I would like to acknowledge and extend my heartfelt gratitude to the following persons who have made the completion of the project on BIG BAZAAR. Our Principal, Mr K.Siva rama krishna ,for his encouragement and support. Mr.Hari(hr manager, BIG BAZAAR, VISAKHAPATNAM),my project mentor , for his guidance. Mr.kishan,(Placement officer, GIM), for the constant reminders and much needed motivation and for the help and inspiration he extended. All the faculty of MBA (Gitam Institute of Management) was very supportive and helped me in anyway. The employees at BigBazaar turned to be very helpful in providing us the informations about the company and it operations.

DECLARATION BY STUDENT
I hereby declare that the mentioned information in the project is correct up to my knowledge.

TABLE OF CONTENTS
Contents 1. Introduction 2.Methodology 2.1Need for the Study 2.2Objectives of the study 2.3Scope of the Study 2.4LIMITATIONS OF THE STUDY : 2.5Methodology adopted for the Study 2.6Sources of Data 3. Literature Studies .... 3.1. Company profile 3.2. Diagram . 3.3. About us 3.3. a. Group vision . 3.3. b. Group mission . 3.3. c. Core values Pages 7 9 9 9 9 10 10 11 11 12 13 13 13 13

3.4. Introduction to big bazaar........... 14 3.5. Big bazaar promises 16 3.6. Portfolio management 17 3.7. Product line . 18 3.8. Marketing strategy . 19 3.8. a. Segmentation . 3.8. b. Targeting .. 19 19

3.8. c. Positioning ... 3.8. d. Marketing mix . 3.8. e. Retail mix .. 3.8. f. Promotion mix 3.9. Distribution of revenue earner . 3.10. Competitors . 3.11. Major problems .. 4. Work assigned by the company . 4.1. Business objective 4.2. Operating the scheme 4.3. Working .

20 21 24 25 27 28 30 31 31 31 31

4.3. 1. To know consumer Behavior.. 31 4.3. 2. To get the right positioning Done.. 34 4.3. 3. To maintain stock on floor.. 34 4.3. 4. Update the prices . . 34 4.3. 5. Discount criterion . . 34 4.3. 6. Inventory control 35 5. SWOT Analysis .... 36 6.Findings & Conclusions.. 37

7. Bibliography .. 39

1.Introduction
RETAIL INDUSTRY
The retail scenario is one of the fastest growing industries in India over the last couple of years. India retail sector comprises of organized retail and unorganized retail sector. Traditionally the retail market in India was largely unorganized. However with changing consumer preferences, organized retail is gradually becoming popular. Unorganized retailing consists of small and medium grocery store, medicine stores, subzi mandi, kirana stores, paan shops etc. More than 90% of retailing in India fall into the unorganized sector, the organized sector is largely concentrated in big cities. Organized retail in India is expected to grow 25-30 per cent yearly and is expected to increase from Rs35, 000 crore in 2004-05 to Rs109, 000 crore ($24 billion) by 2012.

Quick facts on Indian Retail sector

Indian Retail sector is the fifth largest global retail destination. India retail market is dominated by the unorganized sector.

The top five companies in retail hold a combined market share of less than 2%. The Indian retail market has been ranked by AT Kearney's eighth annual Global Retail Development Index (GRDI), in 2009 as the most attractive emerging market for investment in the retail sector.

The BMI India Retail Report for the first-quarter of 2011 forecasts that total retail sales will grow from US$ 392.63 billion in 2011 to US$ 674.37 billion by 2014.

Key Players in Indian Retail Sector

AV Birla Group has a strong presence in apparel retail and owns renowned

brands like Allen Solly, Louis Phillipe, Trouser Town, Van Heusen and Peter England. The company has investment plans to the tune of Rs 8000 9000 crores till 2010.

Trent is a subsidiary of the Tata group; it operates lifestyle retail chain, book Landmark Group invested Rs. 300 crores to expand Max chain, and Rs 100

and music retail chain, consumer electronic chain etc.

crores on Citymax 3 star hotel chain. Lifestyle International is their international brand business.

K Raheja Corp Group has a turnover of Rs 6.75 billion which include books, Reliance has more than 300 Reliance Fresh stores, they have multiple Pantaloon Retail has 450 stores across the country and revenue of over Rs.

music and gifts, apparel, entertainment etc.

formats .

25 billion include Food & grocery, e-tailing, home solutions, consumer electronics, entertainment, shoes, books, music & gifts, health & beauty care services.

2.Methodology
2.1 Need for the Study This study is taken up to gain an insight in retail marketing .The training is undertaken during July the month of January 2011 and the main purpose of the training is to know the application of the theoretical aspects in our course in the corporate environment and gain firsthand experience and expose ourselves to corporate policies, ethics, culture, practices, procedures, facts about the work culture and policies of the company. 2.2 Objectives of the study

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To understand the Consumer behavior. To understand the working of the various departments. To enable us to gain an insight into the corporate world. To understand the various responsibilities and duties carried out by each department.

2.3 Scope of the Study This report is based on the study conducted at Big Bazaar, Visakhapatnam. It aims at understanding the Consumer Behavior ,and organization structure, departments, techniques, marketing strategies and the advantages it is having over the competitors. It aims to understand the about different types of customers 2.4 LIMITATIONS OF THE STUDY: Duration of the project is 10days. Employees and management were busy and were less responsive. The data collected is subject to variations. The study is mainly based on the available printed and published information and opinion of the officers and employees of the company. Non-availability of adequate and essential information due to complex nature of the study. 2.5 Methodology adopted for the Study Observing the working of various departments like finance, safety, human resource, production, purchasing etc. Discussion with the company executives, managers and employees. Visiting and surfing websites of the company. Feedback from the customers.

2.6 Sources of Data Primary data

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Secondary data Primary Data The data collected for the first time through observation and interview method. The data is collected by observing the working of various departments and also by interviewing the managers of all the departments. It is also obtained by the help of staff members. Secondary Data The data is collected by secondary sources also. The data is collected through company manual, product brochure, company website.

3. LITERATURE STUDIES
3.1. COMPANY PROFILE Pantaloon Retail (India) Limited, is Indias leading retailer that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. Headquartered in Mumbai (Bombay), the company operates over 10 million square feet of retail space, has over 1000 stores across 61 cities in India and employs over 30,000 people. The companys leading formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar, a supermarket chain, blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality and Central, a chain of seamless destination malls. Some of its other formats include, Depot, Shoe Factory, Brand Factory, Blue Sky, Fashion Station, all, Top 10, m bazaars and Star and Sitara. The company also operates an online portal, futurebazaar.com. Future Group is one of the countrys leading business groups present in retail, asset management, consumer finance, insurance, retail media, retail spaces and logistics. The groups flagship company, Pantaloon Retail (India) Limited operates over 10 million square feet of retail space, has over 1,000 stores and employs over 30,000 people.

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Future Group companies includes, Future Capital Holdings, Future Generally India Indus League Clothing and Galaxy Entertainment that manages Sports Bar, Brew Bar and Bowling Co. Future Capital Holdings, the groups financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels. 3.3. ABOUT FUTURE GROUP 3.3. a. GROUP VISION: Future Group shall deliver Everything, Everywhere, Consumer in the most profitable manner. 3.3. b. GROUP MISSION: We share the vision and belief that our customers and stakeholders 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 segments for classes and for masses. 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. 3.3. CORE VALUES: Indianness: 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, and information. Valuing and Nurturing Relationships: to build long term relationships. Simplicity & Positivity: It is in our thought, business and action. Every time for Every Indian

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Adaptability: to be flexible and adaptable, to meet challenges. Flow: to respect and understand the universal laws of nature.

3.4 INTRODUCTION TO BIG BAZAAR

a. It is a chain of shopping malls in India currently with 31 outlet owned by Kishore Biyanis Pantaloon Group. b. Big bazaar is not just another hypermarket, but also provides the best products at the best price. c. It Reflect the look and feel of Indian bazaars at their modern outlets. All over India, Big Bazaar attracts a few thousand customers on any regular day. d. Big Bazaar is a chain of department stores in India, currently with 92 stores. It is owned by the Pantaloon Retail India Ltd, Future Group. It has considerable success in many Indian cities and small towns. e. A department store is a retail establishment which specializes in selling a wide range of products without a single predominant merchandise line. Department stores usually sells products including apparel, furniture, appliances, electronics, and additionally select other lines of products such as paint, hardware, toiletries, cosmetics, photographic equipment, jewelery, toys, and sporting goods. f. At Big Bazaar, you will definitely get the best products at the best prices - that's what it guarantees.
3.5. The Big Bazaar promise

a. MANUFACTURERS WARRANTIES ON ALL PRODUCTS:

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Big Bazaar promises to sell only the original products from the authorized dealers; so that all applicable products carry the original manufacturers warranty. To service any product purchased at Big Bazaar, customer can visit the authorized service centre of the manufacturer. The invoice accompanying the product is the warranty document. b. GUARANTEED DELIVERY: Big Bazaar guarantees to deliver the exact product that has selected, without defects. In case of receiving a different product, or if the product is damaged in transit, the customer should contact it within the stipulated time period and Big Bazaar will ensure that it is replaced or refunded. c. SECURE PAYMENT: It commits to ensure that no payment misuse happens, so we work with banks and payment gateways to ensure that your information is protected. Payments are protected both by it and by the policies of customers bank, and the chances of fraud in these channels are actually very low. Big Bazaar openly publishes its office addresses and is part of Indias largest retail company with a presence all over India so you know how to contact us in person, if required. d. OUR SIMPLE 15-DAY RETURN POLICY: If customer has purchased something at Future Bazaar and the product did not meet its expectations or does not fit to his needs, then it can return the product to us; no questions asked, as long as it is in its original packaging and accompanied by its invoice e. PROMPT CUSTOMER SUPPORT: Our customer support is manned by dedicated call centre personnel, who can take decisions and resolve your problems. They are eager to solve your problems and are aware of the processes and means to handle them. In case they cannot solve the problem at their end, they will trigger the required action on your behalf or advise you the best possible method to a successful fulfillment of all your queries/issues. Be assured that when you call us, your call is being taken seriously.

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BIG BAZAAR PROMISES-------

GUARANTEED DILIVERY

15 DAYS RETURN POLICY

PROMPT CUSTOME-R SUPPORT

BIG BAZAAR

SECURE PAYMENT

MANUFACTURERS WARRANTY

3.6. PORTFOLIO MANAGEMENT The Future Group has built a strong portfolio of some of the fastest growing consumer brands in India. This activity is led through Future Brands India Limited, a specialized subsidiary company that was set up to create and build powerful brands that address the aspirations of the new Indian consumer.

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Some of the key brands in this portfolio include, John Miller, Lombard, Bare, DJ&C, Buffalo and RIG in the fashion and apparel space. Dream line, present in the home segment, offers a wide range of products in kitchenware, bed & bath linen, and Home Dcor categories. In the food and home care segment brands include Tasty Treat, Premium Harvest, Fresh & Pure, Care Mate and Clean Mate. In consumer durables and electronics space, the groups brands include Koryo and Sensei.

S.M

ADDITIONAL STORE MANAGER

DEPARTMENT MANAGER

SUB- DEPARTMENT MANAGER

TEAM LEADER

TEAM MEMBER

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3.7. PRODUCT LINE

Here, one finds over 170,000 products under one roof that cater to every need of a family, making Big Bazaar Indias favorite shopping destination. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers. Big Bazaar, one finds a huge variety of products to select from with a good price and quality. 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 surprisingly low prices. In recent years, Big Bazaar has adopted value pricing in which they win loyal customers by charging a fairly low price for a high quality offering. However, consistent low price for the products is not only the universally desired characteristic.

3.8. MARKETING STRATEGY PROCESS FOLLOWED

Segmentation, targeting, and positioning together comprise a three stage process. We a. Determine which kinds of customers exist. b. Select which ones we are best off trying to serve. c. Implement our segmentation by optimizing our products/services for that segment and communicating that we have made the choice to distinguish ourselves that way. 3.8. a. SEGMENTATION:

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Segmentation involves finding out what kinds of consumers with different needs exist. In the auto market, for example, some consumers demand speed and performance, while others are much more concerned about roominess and safety. In general, it holds true that You cant be all things to all people, and experience has demonstrated that firms that specialize in meeting the needs of one group of consumers over another tend to be more profitable. 3.8. b. TARGETING: 1. In the next step, we decide to target one or more segments. Our choice should generally depend on several factors: First How well are existing segments served by other manufacturers? It will be more difficult to appeal to a segment that is already well served than to one whose needs are not currently being served well. Secondly How large is the segment, and how can we expect it to grow?

Thirdly Do we have strengths as a company that will help us appeal particularly to one group of consumers? 2. Big Bazaar targets higher and upper middle class customers. 3. The large and growing young working population is a preferred customer segment. 4. Big Bazaar specifically targets working women and home makers who are the primary decision makers.It is part of Big Bazaars new Guerrilla Marketing Strategy. 5. Guerrilla force is divided into small groups that selectively attack the target at its weak points. Guerilla marketing is just one of the strategies and surely one can learn a lot from the ongoing battle, especially people interested in marketing/marketing techniques.

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3.8.c. POSITIONING: Positioning involves implementing our targeting. For example, Apple Computer has chosen to position itself as a maker of user-friendly computers.

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3.8. d. MARKETING MIX Main Aspects of Marketing MiX

The easiest way to understand the main aspects of marketing is through its more famous synonym of "4Ps of Marketing". The classification of four Ps of marketing includes marketing strategies of product, price, placement and promotion. The following diagram is helpful in determining the main ingredients of the four Ps in a marketing mix.

PRODUCT: In simpler terms, product includes all features and combination of goods and related services that a company offers to its customers. Product is the most important aspect of marketing mix for two main reasons. First, for manufacturers, products are the market expression of the company's productive capabilities and determine its ability to link with consumers. So product policy and

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strategy are of prime importance to an enterprise, and product decisions dictate the scope and direction of company activity. PRICING: Pricing is basically setting a specific price for a product or service offered. In a simplistic to the concept of price as the amount of money that customers have to pay to obtain the product. Setting a price is not something simple. Generally pricing strategy under marketing mix analysis is divided into two parts: price determination and price administration (ibid). Price determination is referred to as the processes and activities employed to arrive at a price for a product including consideration of relative prices of products within the same line, and differences in price for similar products of differing grades and qualities. Price administration is referred to as the activities involved in fitting basic prices to particular sales situations such as geographic locale, functions performed by customers, position of distribution channel members, or special sales situations.

PLACEMENT:

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Placement under marketing mix involves all company activities that make the product available to the targeted customer while planning placement strategy under marketing mix analysis, companies consider six different channel decisions including choosing between direct access to customers or involving middlemen, choosing single or multiple channels of distributions, the length of the distribution channel, the types of intermediaries, the numbers of distributors, and which intermediary to use based on the quality and reputation .

PROMOTION:
Promotional strategies include all means through which a company communicates the benefits and values of its products and persuades targeted customers to buy them . The best way to understand promotion is through the concept of the marketing communication process. Promotion is the company strategy to cater for the marketing communication process that requires interaction between two or more people or groups, encompassing senders, messages, media and receivers

Limitation of Marketing Mix Analysis (4Ps of Marketing)

Despite the fact that marketing mix analysis is used as a synonym for the 4Ps of Marketing, it is criticised on the point that it caters seller's view of market analysis not customers view. To tackle this criticism, attempted to match 4 Ps of marketing with 4 Cs of marketing to address consumer views: Product Price Placement Promotion Communication Customer Customer Solution Cost Convenience

3.8. e. RETAIL MIX:

Merchandise assortment
The company was looking for a solution that would bring all of its businesses and processes together. After a comprehensive evaluation of different options and software companies, the management at Pantaloon decided to go in for SAP. 2. Place

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In the channels of distribution, the physical facilities point of location. 3. Price 4. Visual merchandising Visual merchandising supports:a. sales b. retail strategies c. communicates with customers d communicates image e. supports retailing trends Visual merchandising includes:1. Interior merchandising Sufficient visual merchandizing within the store that included danglers, signage, standees, distribution of pamphlets, which gave details of the offer. Display, point of purchase, fixture, equipment and furnishings store layout. Product packaging and labels. 2. Exterior merchandising TVC on popular entertainment channels like Star Plus, Sony, Set Max, and Star One. Road shows carried out by the Big Bazaar staff with announcements about the offer to make people aware. Newspaper ads in almost all the local dailies like Sakal, The Times of India, on different days during the period of the offer.

Store atmosphere.

3.8. f. RETAIL PROMOTION MIX 1. ADVERTISING:

Advertising is recognized as an indispensable tool of promotion. It has acquired a lot of significance in the national and international markets. With the advent of globalization and liberalization its imperativeness in the Indian retail sector has increased as a result of competitions, latest technologies, and the rapidly changing consumer lifestyles.

2. PROMOTION:

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Promotion can be loosely classified as "above the line" and "below the line" promotion. The promotional activities carried out through mass media like television, radio, newspaper etc. is above the line promotion. The terms 'below-the-line' promotion or communications refers to forms of non-media communication, even non-media advertising. Below-theline promotions are becoming increasingly important within the communications mix of many companies, not only those involved in fmcg products, but also for industrial goods. 3. PERSONAL SELLING: Persuasive communication between a representative of the company and one or more prospective customers, designed to influence the person's or group's purchase decision. 4. PUBLICITY OF PRODUCT: Publicity non-personal communication in news story form about an organization, its products or both, that is transmitted through a mass medium at no charge. 5. PUBLIC RELATION:
Public relations the planned and sustained effort to establish and maintain goodwill and mutual understanding between an organization and its target publics.

6. INTERNAL ATTRIBUTES: a. Envelope Something that envelops; a wrapping. A products wrapping affects a lot on its sale. More customers are attracted if envelope is very attractive. b. Internal layout Methods of display Visual merchandising

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7. LOGISTICS: Logistics is the art and science of managing and controlling the flow of goods , energy, information and other resources like products, services and people from the source of production to the marketplace. Its Important to have professional logistical support logistical. The operating responsibility of logistics is the geographical repositioning of raw materials, work in process and finished inventories where required at the lowest cost possible. 8. SUPPLY CHAIN: Supply chain, is a coordinated system of organizations, people, activities, information and resources involved in moving a product or service in physical or virtual manner from supplier to customer. Supply chain activities transform raw materials and components into a finished product that is delivered to the end customer.
3.9. DISTRIBUTION OF REVENUE EARNER

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a. Big Bazaar is working to make fashion its largest revenue earner. b. Big Bazaar, the value retailing chain of the Rs 4,500crore Pantaloon Retail, is to focus specially on fashion retailing or its apparel business to boost overall revenues. c. It has created Fashion @ Big Bazaar, a sub-brand, to position the format as much more than food or general merchandise. d. Big Bazaar is looking at making apparel business its largest revenue generator, as much as 40 per cent in two years and 50 per cent of its overall business, in five years. e. Currently sales of apparel make up almost 30 per cent of Big Bazaars revenues, which is next only to its food retailing business that makes up almost 40 per cent. f. However, we will focus on apparel as the margin here is as high as 35 per cent compared to food retailing business where margins are probably 12 per cent. So a slight increase in apparel sales boosts the overall business. Going forward, Big Bazaar plans to rearrange its apparel and fashion merchandise section in stores in terms of design, layout and elbow space. This is expected to ensure better product display in stores keeping with consumer buying habits and convenience. i. Some of Big Bazaars private labels, like DJ&C and Knighthood, are already big revenue generators, with DJ&C projecting Rs 1,000crore in the next three years, from 600crore right now.

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3.10. COMPETITORS
Big bazaar operates in a competitive environment. For each line of business, they face competition from established national and regional companies. In the fashion segment, they probably face competition from Shoppers Stop, Trent and Lifestyle. The hypermarket business is relatively new, being just about three to four years old in the country. Big bazaar faces competition from the likes of RPG (Spencers), Trent (Star India Bazaar) and with Shoppers Stop too indicating their entry into the hypermarket segment. In the Food business, Big Bazaar faces competition from Subhiksha, Food World to name a few.

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a. RPG GROUP:

Spencer & Company Limited is another large retail group in the country with supermarkets, music stores, and the beauty and health chainHealth & Glow. Food world, operated by Food World Supermarkets Limited, while Health &Glow by the RPG Group. It is also Planning IPO, will have 450-plus Music World, 50-plus Spencer's Hyper .

b.KRAHEJAS

K Rahejas Shoppers Stop, is the second largest retailer in the country and became in retailing DEPARTMENTSTORE operation an Indian success story. It also acquired the Crossword chain of bookstores. CHAIN: It Operates Shoppers Stop, Crossword, In orbit Mall, and 'Home Stop' formats. Will operate 55 hyper city hypermarkets with US$100 million sales across India by 2015.

c.SUBHIKSHA SUPERMARKET:

Subhiksha was immensely popular in the South, particularly in Chennai, where it sold groceries and pharmaceutical products below the MRP. It expected to earn a total turnover of Rs 1,200 crore in 2008-09 as it planned to expand outside Tamil Nadu and Pondicherry. It planned for 550 stores in the next five years.

d.RELIANCE RETAIL:

Investied Rs.30000 crore ($6.67 billion) in setting up multiple retail formats with expected sales of Rs.90,000 crore-plus ($20 billion) by 2009-10.

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e. LIFESTYLE:

Investing Rs.400 crore-plus ($90 mn) in next five years on Max Hypermarkets & value retail stores, home and lifestyle centers.

f.PIRAMYD RETAIL:

Aiming to occupy 1.75 million sq.ft retail space through 150 stores in next five years.

g. TATA GROUP:

Tata Group has two retailing companies; Trent Limited, headed by Noel Tata, which owns Westside, Star Bazaar and Landmark retail brands and Tata Infiniti, headed by Krishna Kumar, which owns Croma brand.

3.11. MAJOR PROBLEMS a. Retailing is in a rapid state of change due to speedy technological developments, changing competitive positions, varying consumer behaviors as well as their expectations and liberalized regulatory environment. In such a scenario, information is crucial to plan and control profitable retail businesses and it can be an important source of competitive advantage so long as it is affordable and readily available.

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b. In west, retail businesses have been the early adopters of Information Technology (IT). As there is a need to capture accurate information and make it available not only within the store but send it to warehouse, distributors and manufacturers in real time to manage the short shelf life of some goods in grocery sector and costs of inventory, varied DSS tools have been adopted by organized retailers. VMIs- vendor managed inventory systems, Scanner at the counters- point of sales systems, RFID- radio frequency identification, OLAP (online analytical processing), supply chain management systems, forecasting systems, CRMcustomer relationship management systems, ERP- enterprise resource performance system etc. are the tools used by organized retailers in developed nations.

c. Most retailers collect and have access to huge amount of data, collected from day to day operations e.g. customer loyalty data, retail store sales and merchandise data, demographic projection data etc. Currently retailers are data rich but information poor. There is a great potential to develop systems that enable analysts and decision makers to manage, explore, analyze, synthesize and present data in a meaningful manner for decisions.

4. TARGETS DURING BIG DAYS

4.1 BUSINESS OBJECTIVE: To increase footfalls and enhance sales by: a. Attracting customers by giving them various offers. b. Inculcating in their minds the value for money through these offers. c. Increasing the average consumption of existing customers. 4.2 OPERATING THE SCHEME ON BIG DAYS:
a. All Category received information about offers well in advance. b. I.T uploaded the offers one day in advance and rechecked them. c. V.M also did splendid job by putting the required offer signages and also decorated the store as per the SS3D theme.

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d. HR managed the shift time of employee; Snacks were arranged for the staff. e. SM, ASM, DM, ADM-Planned and managed micro analysis of targets and staff was done by taking department wise meeting.
4.3 WORKING.. 4.3.1. TO KNOW CONSUMER BEHAVIOR TOWARDS SCHEME:

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On the basis of demographic factors

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AGE INCOME Adolescent Do not earn (New age teens) Youth Mostly Age (35-45) Age (45-60) Good rate

PREFERENCES/HABBITS Fond of spending more on cloths ,toyes and stationery etc Brand conscious, product conscious.

income Good spenders, they like upgrading their households gadgets.

People at the Spend less peek of their careers

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Above 60

Steady income

Spend mostly on households.

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BUYING PROCESS a. NEED RECOGNITION: The customer first points out the things which he need. His good part of income is spend on things of his daily requirement. b. INFORMATION SEARCH: Before purchasing of a product, customer research internally and externally. Internally-retrieving information about similar purchase made earlier, decision about choice criteria, brand included, or advertisement related to the product. Externallysource such as family, friends, commercial sources, etc. c. EVALUATION OF ALTERNATIVES: Before, purchasing customer looks for the alternatives of that product. Customer goes for good quality in cheapest rate. d. PURCHASES: Purchaser many times faces cognitive dissonance which arises due to uncertainty of making right decision. This is because choice of one product often means rejection of attractive features of the alternatives.

e. AFTER PURCHASE EVALUATION: Customer by using the product comes to know about the real value of product. CONCLUSION: It should be considered that big bazaar targets every class. Thus we know that different people have different thinking style. Most of their buying decisions or his behavior depends on his:a. PERCEPTION:

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Perception is the process by which a customer makes sense of information that he receives. Therefore, it is to be tried that customer receives the right information about every product and about its scheme, because a single error in communication to customer can create confusion to him and he may not buy the product. b. LEARNING: It is the change in the content or organization of long time memory and is a result of information processing. Thus company should try to hit the customers memory. I.e. Company should have good impression on the memory of the customer. As this memory acts as a internal information source in the decision making process. c. MOTIVATION: Motivation helps a lot to maintain loyal customers. A customer is loyal only when he sees any extra benefits. Thus discounts, free gifts, free coupons, etc such schemes motivate them a lot. Many times, good quality of the product, reasonable prices, packaging, etc also works as motivational tool. d. PERSONALITY: Personality can be of many types as introvert-extrovert, sociable-loner, and competitive-cooperative. Brand personality is the characterization of brands as perceived by customers. Brand may be as for young like branded jeans of Levis, Lee, Woodland, etc. Big bazaar also target same concept.

e. CUSTOMER LOYALITY AND PROFITABILITY: Relationship between loyalty and profitability should be decided on the basis of loyal customers that are really profitable for company. The loyal customers are believed to be cost less to serve, they are willing to pay more than other customers and act as a word- of- mouth promoters for the company. It is believed that one sure way to earn greater profits is to win loyalty of customers.

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4.3.2. TO GET THE RIGHT POSITIONING DONE OF THE PRODUCT UNDER SCHEME: It is the customers beliefs about the companys product being of, say, high quality, or low price, or durable, etc. Thus it is very necessary that product should be according to the customers need. It should not be damaged, in store product should be given open facing. For pack of two the products were given alternate 4 facing. I.e., one row of single and other row of double. 4.3.3. TO MAINTAIN STOCK ON THE FLOOR: In retail stores less stock is maintained. This stock on other hand is sufficient enough to fulfill the demand of that vary product in store. To know the exact amount to be maintained on floor it is very necessary to know:a. Product facing b. Capability to maintain stock in warehouse c. Demand of the product. d. Profit margin on the product. 4.3.5. DISCOUNT CRITERION: Big days attracts huge crowd the only reason is the discounts . Twice a year will make good profits as the sales are high even the profit ratio per unit is less. 4.3.6. INVENTORY CONTROL: Since inventory represents cost, managers seek stock minimization. To always have in stock every conceivable item that a customer might order would normally be prohibitively expensive for companies marketing many items. One solution is to separate items into those that are in high demand and those that are is slow moving. Two related inventory decisions are

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knowing when and how much to order so that stocks are replenished. This is because there is a lead time between ordering and receiving inventory, and there should not be stock out as the company is waiting for the order items to arrive. The more variable the lead time and higher will be the safety or buffer stock that the company will be required to keep to prevent a stock out.

5.SWOT Analysis:
Strengths: Better understanding of customers helping the company to serve them better. Vast range of products under one roof helping in attracting customer and their family to shop together and enjoy the experience. Benefit of early entry into the retail industry. Diversified business operating all over India in various retail formats. Ability to get products from customers at discounted price due to the scale of business.

Weaknesses:

High cost of operation due to large fixed costs. Very thin margin. High attrition rate of employees

Opportunities:

Lot of potential in the rural market.

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Can enter into production of various products due to its in depth understanding of customers tastes and preferences. Can expand the business in smaller cities as there is a lot of opportunity.

Threats:
High business risk involved

Lot of competitors coming up to tap the market potential. Margin of business reducing all the time.

6.Findings& Conclusions
1. Big Bazaar is undoubtedly the number one retailer in India. It has built a very

emotional and cordial relationship with its customers. It is also very intending to build long term relationship with all its stakeholders which is very essential for a successful business venture. 2. It is observed that the organization hierarchy is professional as all the departmental Managers directly report to the Store Manager who in turn reports to the Zonal Head. 3. Big Bazaar, with long experience in the field of weaving fabrics, is the leading Apparels and fashion design fabric company. 4. There exist a healthy and positive relationship between employees and managers.

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5. The employees accept their responsibilities wholeheartedly, accept that it is their responsibility to carry out a part of the activities of the company and they will be held accountable for the quality of their work. 6. It is found that more than 60% of employees are of the age group of 20-35. From this it reveals that company is having young and energetic workforce who are very creative, enthusiastic and also very determined to grow in their career and in turn helping the company to grow. 7. Working environment is good and also the various facilities provided helps in motivating the employees. 8. The company is reaching out to all the sections of the society as it is creating a hypermarket where not only the rich people shop but also the middle and the lower class customers come to enjoy the whole shopping experience.

Training provided to me helped me a lot to know the retail store and consumers behavior to a great extent. I came to know how a consumer reacts to every action made by retail to pursue them with their promotional and marketing strategies. This project helped me to clear my else doubts and step over the boundaries of confusion and queries with reference to retail store and helped to be more focused and helped me a lot to understand the concepts in my studies.

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7. BIBLOGRAPHY
BOOKS:
KOTLER PHILLIP,KELLER KELVIN (Marketing Management) KUMAR ARUN AND MEENAKSHI N (Marketing Management)

Kishore Biyani (2007), It Happened In India (1st Edition), Rupa Publications. Anthony Robbins (1992), Awaken The Giant Within You (1st Edition), Simon & Schuster UK Ltd. Robbins, Stephen P. (2004), Organizational Behavior (10th Edition),

Websites
1. Pantaloon Retail (www.pantaloonretail.in) 2. FutureBazaar (www.futurebazaar.com) 3. Future Brands (www.futurebrands.co.in) 4. Future Group (www.futuregroup.in) 5. Future Capital Holdings (www.fch.in) 6. Future Generali (www.futuregenerali.in) 7. Future Human Development (www.fhdl.in) 8. Future Supply Chain Solutions (www.futuresupplychains.com) 9. Future Media (www.futuremedia.in)

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