A PROJECT REPORT ON Consumer Perception of Retail Stores w. r. t. Big Bazaar Viz. a Viz.

Lifestyle IN PUNE CITY Submitted to SINHGAD INSTITUTE OF BUSINESS ADMINISTRATION & RESEARCH (SIBAR) KONDHWA, PUNE-48

In partial fulfillment of Master in Marketing Management (MMM) First Year (IInd sem.) 2010-12 to University of Pune, Pune. By Shashwat Pandey Under the Guidence of Prof. Ruby Soni Chanda

CERTIFICATE

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This is to certify that SHASHWAT PANDEY student of SINHGAD INSTITUTE OF BUSINESS ADMINISTRATION & RESEARCH, Pune has completed his report, on the topic of Consumer Perception of Retail Stores w. r. t. Big Bazaar Viz. a Viz. Lifestyle and has submitted the field work report in partial fulfillment of Master in Marketing Management (MMM) First Year (IInd sem.) for the academic year 2010-2012 affiliated to University of Pune. To the best of my knowledge & belief this work is not submitted/published elsewhere for any degree or diploma examination. Best of Luck.

Prof. Ruby Soni Chanda (Project Guide) Date:Place :- Pune

Prof. Avadhoot D. Pol (Director)

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SINHGAD INSTITUTE OF BUSINESS ADMINISTRATION AND RESEARCH (SIBAR), PUNE-48 DECLARATION

I, the undersigned, hereby declare that the Project Report titled Consumer Perception of Retail Stores w. r. t. Big Bazaar Viz. a Viz. Lifestyle written and submitted by me to (the University of Pune or SIBAR), in partial fulfillment of the requirement for the award of Master in Marketing Management is my original work and the conclusions drawn therein are based on the material collected by myself.

Place: Pune

Shashwat Pandey (MMM 2010-12)

Date:

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ACKNOWLEDGEMENT
I take this opportunity to express my deep sense of gratitude to Big Bazaar & Lifestyle Retail , Pune for giving me the opportunity to undergo on project report in their organization and for extending full support and cooperation in completion of this project. I express my sincere thanks to my Director Prof. Avadhoot D. Pol for providing me the opportunity to undertake this project. I would also thank to my project guide Prof. Ruby Soni Chanda for her guidance and support throughout this project. My deep sense of gratitude also goes to my family and friends who enlightened me to complete the job in sincere manner. I would also thanks to the respondents for all the inquiries with great researchers.

(Shashwat Pandey)

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CONTENTS
Sl. No. I Retail Industry in India Topic Page No.

II (i) (ii)

Company Profile Big Bazaar Lifestyle

III IV V VI

Synopsis of the Study Analysis and Interpretation Findings and Suggestions Recommendations and Conclusion

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INTRODUCTION

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RETAIL INDUSTRY IN INDIA

India has one of the largest numbers of retail outlets in the world. Of the 12 million retail outlets present in the country, nearly 5 million sell food and related products. Though the market has been dominated by unorganized players, the entry of domestic and international organised players is set to change the scenario. Organized retail segment has been growing at a blistering pace, exceeding all previous estimates. According to a study by Deloitte Haskins and Sells, organised retail has increased its share from 5 per cent of total retail sales in 2006 to 8 per cent in 2007. The fastest growing segments have been the wholesale cash and carry stores (150 per cent) followed by supermarkets (100 per cent) and hypermarkets (75-80 per cent). Further, it estimates the organised segment to account for 25 per cent of the total sales by 2012. India retail industry is the largest industry in India, with an employment of around 8% and contributing to over 10% of the country's GDP. Retail industry in India is expected to rise 25% yearly being driven by strong income growth, changing lifestyles, and favourable demographic patterns. It is expected that by 2016 modern retail industry in India will be worth US$ 175- 200 billion. India retail industry is one of the fastest growing industries with revenue expected in 2007 to amount US$ 320 billion and is increasing at a rate of 5% yearly. A further increase of 7-8% is expected in the industry of retail in India by growth in consumerism in urban areas, rising incomes, and a steep rise in rural consumption. It has further been predicted that the retailing industry in India will amount to US$ 21.5 billion by 2010 from the current size of US$ 7.5 billion. Shopping in India has witnessed a revolution with the change in the consumer buying behaviour and the whole format of shopping also altering. Industry of retail in India which has become modern can be seen from the fact that there are multi- stored malls, huge shopping centres, and sprawling complexes which offer food, shopping, and entertainment all under the same roof. India retail industry is expanding itself most aggressively; as a result a great demand for real estate is being created. Indian retailers preferred means of expansion is to expand to

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other regions and to increase the number of their outlets in a city. It is expected that by 2010, India may have 600 new shopping centres. India retail industry is progressing well and for this to continue retailers as well as the Indian government will have to make a combined effort.

Retail space
Driven by changing lifestyles, strong income growth and favourable demographic patterns, Indian retail is expanding at a rapid pace. Mall space, from a meagre one million square feet in 2002, is expected to touch 40 million square feet by end-2007 and an estimated 60 million square feet by end-2008, says Jones Lang LaSalle's third annual Retailer Sentiment Survey-Asia. Alongside, Indian cities are witnessing a paradigm shift from traditional forms of retailing into a modern organized sector. A report by Images Retail estimates the number of operational malls to more than double to over 412 with 205 million square feet by 2010 and further 715 malls by 2015, on the back of major retail developments even in tier II and tier III cities in India.

Challenges facing the Indian Organized Retail sector

The challenges facing the Indian organized retail sector are various and these are stopping the Indian retail industry from reaching its full potential. The behaviour pattern of the Indian consumer has undergone a major change. This has happened for the Indian consumer is earning more now, western influences, women working force is increasing, desire for luxury items and better quality. He now wants to eat, shop, and get entertained under the same roof. All these have lead the Indian organized retail sector to give more in order to satisfy the Indian customer. The biggest challenge facing the Indian organized retail sector is the lack of retail space. With real estate prices escalating due to increase in demand from the Indian organized retail sector, it is posing a challenge to its growth. With Indian retailers having to shell out more for retail space it is effecting there overall profitability in retail.

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Trained manpower shortage is a challenge facing the organized retail sector in India. The Indian retailers have difficultly in finding trained person and also have to pay more in order to retain them. This again brings down the Indian retailers profit levels. The Indian government have allowed 51% foreign direct investment (FDI) in the India retail sector to one brand shops only. This has made the entry of global retail giants to organized retail sector in India difficult. This is a challenge being faced by the Indian organized retail sector. But the global retail giants like Tesco, Wal-Mart, and Metro AG are entering the organized retail sector in India indirectly through franchisee agreement and cash and carry wholesale trading. Many Indian companies are also entering the Indian organized retail sector like Reliance Industries Limited, Pantaloons, and Bharti Telecoms. But they are facing stiff competition from these global retail giants. As a result discounting is becoming an accepted practice.

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COMPANY PROFILE

BIG BAZAAR
Big Bazaar is not just another hypermarket. It caters to every need of a family. Where Big Bazaar scores over other stores is its value for money proposition for the Indian customers. At Big Bazaar, one can get the best products at the best prices that is what they 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, Page 10

cutlery, sports goods and much more at prices that will surprise you. And this is just the beginning. Big Bazaar plans to add much more to complete the shopping experience. Food is the main shopped for category in this store.

Parent Company
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 12 million square feet of retail space, has over 1000 stores across 71 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 Brand Factory, Blue Sky, aLL, Top 10 and Star and Sitara. The company also operates an online portal: futurebazaar.com. A subsidiary company, Home Solutions Retail (India) Limited, operates Home Town, a large-format home solutions store, Collection i, selling home furniture products and eZone focussed on catering to the consumer electronics segment. Pantaloon Retail was recently awarded the International Retailer of the Year 2007 by the US-based National Retail Federation (NRF) and the Emerging Market Retailer of the Year 2007 at the World Retail Congress held in Barcelona. Pantaloon Retail is the flagship company of Future Group, a business group catering to the entire Indian consumption space.

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Lifestyle
Lifestyle International (P) Ltd, part of the prestigious Dubai based Landmark Group, started its operations in India with the launch of the first Lifestyle store in Chennai in 1999. In little over a decades time, Lifestyle has established itself amongst the leading retail companies in India. Positioned as a youthful, stylish and a vibrant brand, Lifestyle offers its customers not just the ease of shopping but also an enjoyable shopping experience. Each Lifestyle store brings together five concepts under one roof Apparel, Footwear, Childrens Wear & Toys, Furniture & Home Furnishings, Personal Grooming offering a convenience of a one-stop shop and a wide choice of national & international brands. Home Centre by Lifestyle is a one stop destination for Furniture, Home Dcor and Soft Furnishings that truly represent style, comfort and individuality. Home Centre uses a unique Concept Room display model to give customers a practical idea of how each piece of furniture would look in a particular room. In keeping with the Groups tradition of making every shopping experience rewarding and memorable, The Inner Circle Landmark Groups Loyalty program allows members, to enjoy exclusive benefits and privileges such as reward points and exciting offers. The Inner Circle is today recognized amongst the leading Loyalty Program in the country with an ever increasing base of customers. The card is accepted across all Landmark Group Stores in India including Lifestyle, Home Centre by Lifestyle, Max Fashion, Splash, Bossini, SPAR Hypermarket, Polynation Food Court, Gloria Jeans Coffees & The Yellow Chili chain of restaurants.

Lifestyle and Home Centre offer a truly international shopping experience, a fact borne by numerous accolades: Most Admired Large Format Fashion Retailer Images Fashion Awards 2011 Most Admired Retailer of the Year - Home & Interiors Category for Home Centre by Lifestyle from Images Retail for two consecutive years, 2009 & 2010 Most Respected Company in the Retail Sector by Business World IMRB in 2003 and 2004. ICICI KSA Technopak Award for Retail Excellence in 2005 Lycra Images Fashion Awards for the Most Admired Large Format Retailer of the Year in 2006. Reid and Taylor Retailer of the Year award for the year 2006 Page 12

Most Admired Retailer of the Year Department Store from Images Retail in 200

LINES OF BUSINESS OF THE ABOVE STORES

E-tailing Food Fashion Home Solutions Telecom and IT General Merchandise Leisure and Entertainment Wellness and Beauty Books and Music

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SYNOPSIS OF THE STUDY

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Objectives :

1. To study the retail industry in India. 2. To understand the influence of advertising and promotion in buying behaviour. 3. To ascertain brand awareness of the outlets identified. 4. To analyze customer satisfaction towards products and services offered.

Tools of Data Collection:

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Primary Data

Interviewing the customers and consumers

Questionnaires, Surveys, Approaching the outlets directly.

Secondary Data Books, Magazines, Newspapers, Blogs.

Sampling Sample Size 200 customers/consumers Sample Unit Consumers in the age group 18 to 50 years

Scope and Uses

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1. Help us gain independent knowledge about the consumer perception of the outlets identified. 2. The study can help the companies get additional research information. 3. It facilitates evaluation of brand name and customer satisfaction.

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DATA ANALYSIS & INTERPRETATION

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The tools and methods of data collection identified earlier were employed to gather data on the consumer perception of the retail stores Big Bazaar, Lifestyle. The data accrued, especially from the interviews and questionnaires circulated, are tabulated and depicted on graphs in the following pages. The data thus gathered and tabulated is analysed. The data is then scrutinized and relevant interpretations are drawn. The major objectives of analysis of data are: 1. To evaluate and enhance data quality 2. Describe the study population and its relationship 3. Examine effects of other relevant factors 4. Seek further insight into the relationships observed or not observed 5. Evaluate impact or importance The data collection plan, including procedures, instruments, and forms, was designed and pre-tested to maximize accuracy. All data collection activities were monitored to ensure adherence to the data collection protocol and to prompt actions to minimize and resolve missing and questionable data. Monitoring procedures were instituted at the outset and maintained throughout the study, since the faster irregularities can be detected; the greater the likelihood that they can be resolved in a satisfactory manner and the sooner preventive measures can be instituted.

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Q. 1) Age of the respondents Age 18-28 28-38 38-48 48-58 58-65 Total 99 43 21 24 13 200 Percentage 49.33% 21.33% 10.67% 12.00% 6.67% 100%

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Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at analyzing the distribution of ages of the population that visit the stores under study. The age groups laid before the respondent have been the result of observation and interview. By analysing the responses to this question, I , the researcher, as well as companies, can identify the demographics of the population that visit retail outlets. The highest number of respondents falls in the age group 18-28. It can be deduced that most of the consumers who visit retail outlets regularly are the youth. They make up almost half of the population who shop at retail stores. The rest of the population who visit the retail outlets under study can be listed in the following descending order of distribution the working age group, the older age group, the middle age group, and senior citizens. It is not surprising that the youth most frequent malls and retail stores. What is unexpected, however, is the fact that more people who fall into the older age group visit the retail stores than those who fall in the middle age group. Then again, this deduction cannot be applied to the entire population of the city. The disparity can be attributed to the small size of the sample under study.

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Q. 2) Gender of the respondents: Gender Male Female Total 93 107 200 Percentage 46.67% 53.33% 100%

Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at identifying the distribution between the two genders and how many of them visit the retail stores under study. By analysing the responses to this question, I, the researcher, as well as companies, can identify the distribution in the number of men and women who visit the retail outlets and appropriate decisions can be made keeping these numbers in mind. The highest number of respondents were female, as is depicted by the graph and chart presented above. The number of male respondents was less compared to the female respondents.

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Two deductions can be made from the above data collected: one, more women visit retail outlets than men. Two, more women are willing to fill out questionnaires and take a survey than men. This can help the companies and researchers in undertaking future decisions and studies. Since more women can be inferred to visit retail stores than men, companies can target their offerings and marketing strategies in two areas. Retail outlets can appeal to the women customers by offering more products geared especially towards women. They can provide a shopping experience that women are particularly attracted to. Another way that retail chains can use the above data is to appeal to the men rather than the women. Since, fewer men visit retail stores as against women, the companies have a large base of potential customers. By providing products that are geared towards men and by providing a shopping experience that attracts men, the retail chains can expand their customer base.

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Q. 3) How often do you shop? Frequency Once a week Fortnightly Once a month Total 37 72 91 200 Percentage 18.67% 36.00% 45.33% 100%

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Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at understanding how frequently consumers visit shops and buy their products or avail of their services. The frequency points laid before the respondent have been the result of observation and interview. By analysing the responses to this question, I, the researcher, as well as companies, can identify the number of times a customer is likely to shop in a months time. The highest responses have been attributed to once a month shopping. It can be deduced that consumers who shop only once a month look to buy groceries and other essentials to last them a month. Therefore, retail outlets have tough customers in those who shop once a month. Such customers look to buy in bulk. Moreover, such customers may not be open to experimenting with new stores. Hence, to capture this market, retail outlets must put in place strategies that attract them. Once they profess a liking to a certain store, they turn out to be very loyal customers. Consumers who shop once a week, on the other hand, pose very different challenges to retail stores. Such customers can be presumed to have a high disposable income and may buy more lifestyle or fashion products. Since they shop so frequently, they must continually be entertained and attracted to make repeat purchases at stores. When targeting this segment, companies must be able to get new stock every week, and update their marketing strategies continuously.

Q. 4) Which stores do you shop at frequently?

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Details Big Bazaar Shoppers Stop Lifestyle Others

Total 61 56 35 48 200

Percentage 30.67% 28.00% 17.33% 24.00% 100%

Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at analyzing the preferences of consumers among the different stores. The stores under study have been identified on the basis of the income groups they cater to. By analysing the responses to this question, I, the researcher, as well as companies, can identify customer preferences among the varied choices of stores, and can calculate how much market share they hold. The highest number of responses has been attributed to Big Bazaar. Big Bazaar attracts people of many income groups, and offers products that appeal to a wide array of consumers. The other stores can be ranked in descending order of preference or frequency of visits as: Shoppers Stop, Lifestyle.

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It can be deduced from the above figures that the category Others was indicated by more number of respondents than those who indicated they frequent Lifestyle. This may be because Lifestyle targets only the elite classes in a city where a higher percentage of the population belong to the middle income group. In analyzing the other stores that consumers frequent, outlets such as Westside, Monday to Sunday, More, Central etc., featured. This indicates that more people frequent stores that cater to the middle income group. This is not to say that Lifestyle has no customer base. However, they may be unable to generate a high volume of repeat sales.

Q. 5) What do you mostly shop for at the above-mentioned store? Details Clothing Accessories Groceries Others Total 88 32 67 8 200 Percentage 44.00% 16.00% 33.33% 4.00% 100%

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Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at identifying the products consumers shop for frequently at retail outlets. The product categories laid before the respondent are the result of observation and interview. By analysing the responses to this question, I, the researcher, as well as companies, can identify the main attractions of products and services offered. The high number of responses indicate that a large number of consumers visit retail outlets for clothes/dresses/apparel. Accoutrement is the hottest selling item that any retail outlet can provide. One-third of the respondents indicated that the visit retail outlets to purchase groceries. To the retail stores, the above tabulated responses lead to a very important result. Clothing is the fastest moving consumer good. Retail outlets that provide apparel can see a higher rate of turnover and sales volume. However, the above results cannot be assumed to be representative of the entire population of the city. The sample size consists of only 200 respondents, who were approached on a random basis as they visited the retail outlets.

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Q. 6) Why do you shop at the above store? Factors Quality Fashion Affordability Variety All under one roof Brand name Service Store atmosphere Loyalty Proximity Total 53 13 27 11 27 29 11 8 13 8 200 Percentage 26.67% 6.67% 13.33% 5.33% 13.33% 14.67% 5.33% 4.00% 6.67% 4.00% 100%

Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at getting direct customer feedback as to the factors that influence their shopping decision. By analysing the responses to this question, I, the researcher, as well as companies, can identify the biggest factors that influence the consumers in favouring one store over others, direct from the horses mouth. If set in descending order of influence as indicated by the consumers, the factors can be listed as: Quality, Brand name, Affordability, All products under one roof, Fashion, Loyalty, Service, Variety, Proximity, and Store atmosphere. From the table, graph and chart depicted above, it is evident that customers give value to a great many number of factors when deciding which store to shop at. It would be prudent on Page 29

the part of the company to identify their strong and weak areas, which attract or drive away customers to/from their stores.

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Q. 7) Rank your preferences for shopping: Details Quality Brand Price Store layout Proximity One-stop shop Total 61 30 43 16 13 37 200 Percentage 30.67% 14.67% 21.33% 8.00% 6.67% 18.66% 100%

Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at understanding what elements attract the consumer the most. The preference points laid before the respondent have been the result of observation and interview. By analysing the responses to this question, I, the researcher, as well as companies, can identify the biggest factors that influence the consumers in favouring one store over others. The highest responses and the highest ranking have been attributed to quality of the products on sale. When choosing to shop at a particular store, or when favouring one store over the others, it is seen that most consumers make this decision based on the quality of the products on offer.

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The next criteria that influence the consumers in favouring a particular store over others are (in descending order) Price, One-stop shop, Brand, Store layout, and Proximity. Although it is said that the most important things in retail are Location, location, and location, from the consumers point of view, proximity is of little concern. The quality, price and variety of goods play big roles in the decision making process.

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Q. 8) Do advertisement and promotion influence your shopping decision?

Details Yes No

Total 88 112 200

Percentage 44.00% 56.00% 100%

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Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at understanding the effect of advertisements and promotional activities on the psyche of the consumers. The object is also to analyze how far advertisements, promotions and other marketing strategies have an impact on the shopping and buying behaviour of consumers. By analysing the responses to this question, I, the researcher, as well as companies, can identify the effect of advertising and marketing campaigns on the consumers minds and how far advertisements translate into sales. From the tabulated data depicted above and responses of the consumers, it is evident that a slightly higher number of respondents do not give much importance to advertisements and promotional activities. The number of respondents who indicated that advertisements and promotional activities do have an impact on their shopping decisions was slightly lesser. This indicates that although most consumers are aware of the advertisements and promotional campaigns, a slightly higher percentage of consumers are not swayed by the marketing strategies instituted by the companies. This is not, however, to say that advertisements and promotional activities have no bearing on the minds of the consumers at all. The responses only indicate that advertisements serve to keep the brand in retention although they do not guarantee sales. The products sold at the stores have the biggest impact on attracting and retaining customers.

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Q. 9) Which form of advertisement do you think is most effective?

Details Print TV Radio

Total 75 107 18 200

Percentage 37.33% 53.33% 9.34% 100%

Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at understanding the effectiveness of the three means of advertising. The object is also to analyze how far advertisements broadcast through these media percolate into the minds of the consumers.

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By analysing the responses to this question, I, the researcher, as well as companiy, can identify the effectiveness of advertisements through the media identified. This helps to understand which media is more influential and attracts more sales. From the tabulated data depicted above and responses of the consumers, it is evident that the majority of the respondents feel that television advertising is the most effective means of advertising. This is indicative in spite of large number of commercials that the public is bombarded with. The respondents give very little credit to radio advertisements. This is indicative of the fact that most of the public ignore radio advertisements or else that radio advertising does not translate into sales. Thus, it can be surmised that when advertising, more effective media to reach the consumer and persuade them to buy are the television and print media, more so than radio advertising.

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Q. 10) Indicate your satisfaction level based on the given parameters for the following stores:

Stores Big Bazaar Lifestyle

Unsatisfied Total 53 24 % 26.67% 12.00%

Satisfactory Total 115 128 % 57.33% 64.00%

Highly satisfied Total % 27 13.33% 48 24.00%

Never visited Total 5 0 % 2.67% 0%

Total Total 200 200 % 100% 100%

Interpretation Of the consumers approached, 200 people agreed to fill in the questionnaire and this specific question. This question is aimed at understanding the satisfaction levels of the consumers with the two stores under study Big Bazaar and Lifestyle. The object is also to analyze how far the marketing strategies, brand image, advertisements, layout, quality etc., contribute towards consumer perception and satisfaction. By analysing the responses to this question, I, the researcher, as well as companies, can identify the effectiveness of advertisements, location, brand, price, promotion, product variety etc., on the target consumers. This helps to understand the current consumer perception of the two stores identified and the corresponding satisfaction levels. From the tabulated data depicted above and responses of the consumers, it is evident that a good number of target consumers are satisfied with the stores at large. However, there are those who are unsatisfied or who have never visited the store at all. Such consumers form the potential market that the companies must strive to attract. There are also quite a few respondents who were highly satisfied with the retail chains. It is imperative for the stores to find out why this is so. They can modify and apply the same attractions towards the consumers who are less satisfied.

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The above table and graph give a worms eye-view of the consumer perception of the two stores. This can help the marketers understand how effective their strategies have been.

Interpretation Of the consumers approached, 200 agreed to fill in the questionnaire and answer the above question. The aim of this question is to understand the level of satisfaction that consumers feel with regards to the retail chain Big Bazaar.

As is evident from the pie chart presented above, a little more than half of the respondents indicated that they are satisfied with Big Bazaar, while almost one-eighth indicated that they are highly satisfied with the store. However, almost one-fourth of the number of respondents indicated that they were unsatisfied with Big Bazaar. This goes to show that although Big Bazaar may have an overall goodwill from the consumers, there are still some things that they are not doing right. Big Bazaar must identify exactly what the problem areas are and must address them quickly and swiftly. The above pie chart shows that almost 30% of the respondents fall into the category of potential customers. Big Bazaar must take effective steps to attract these consumers.

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Interpretation Of the consumers approached, 200 agreed to fill in the questionnaire and answer the above question. The aim of this question is to understand the level of satisfaction that consumers feel with regards to the retail chain Lifestyle. As is evident from the pie chart presented above, almost two-thirds of the number of respondents indicated that they are satisfied with Lifestyle, while more than one-fourth indicated that they are highly satisfied with the store. However, almost one-eighth of the number of respondents indicated that they were unsatisfied with Lifestyle. This goes to show that Lifestyle is doing many things right. It seems to enjoy a reasonable amount of goodwill. The marketing strategies, advertisements, promotions, quality, pricing, product variety etc., seem to be very appealing and also translate into sales and repeat purchases. The above pie chart shows that 12% of the numbers of respondents, however, are unsatisfied with the store. They form the potential consumers market for Lifestyle.

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Advantages
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& Disadvantages

BIG BAZAAR Pros: 1. Variety: Big Bazaar offers a wide variety of products of different prices and different qualities satisfying most of its customers. 2. Quality: Providing quality at low prices and having different types of products for different income customers is another advantage. 3. Price: As noted the prices and offers in Big Bazaar have been one of the main attractions and reasons for its popularity. The price ranges and the products offered are very satisfying to the customers.

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4. Location: The location of Big Bazaar has been mainly in the heart of the city or in the out skirts giving a chance to both the City and the people living outside the city to shop. 5. Advertisements: Big bazaar has endorsed very popular figure like M S Dhoni and other famous personalities which has attracted a lot of customers. This has resulted in increase of sale and the outdoor advertising techniques have also helped Big Bazaar. 6. Middle class appeal: Considering the fact that there are a lot middle class families in India, Big bazaar has had a huge impact on the middle class section of India, the prices, quality and sales strategy has helped in getting the middle income groups getting attracted towards Big Bazaar. 7. Attractive sales: Big bazaar has been known for its great sale and great offers. Big bazaar has had long lines of people waiting to get into the store for the sale. Therefore, the sales that Big Bazaar has had has increased sales in a huge way due to the sales and offers, thus this has been one of the main advantages of Big Bazaar. Cons: 1. Store layout: The store layout and the assortment of goods is not the best at Big Bazaar, as the quantity of goods sold is more the arrangement and assortment of goods in the store is the greatest. Hence at times customers find it hard to find what they require, this leads to dissatisfaction of customers. 2. Lower quality of goods: As Big bazaar aims more toward the middle income group, the quality of goods is not of the highest quality, and this is sometimes a disadvantage as some would prefer better quality to the price, making customers to search for different places.

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3. Does not appeal to the elite: As mentioned above, the main customers are middle income and a few high income groups, The elite do not like to shop at Big Bazaar as the quality of goods is lower and they would prefer a higher price and get a better brand, this decreases sales from the elite class 4. Not acclaimed for very good service: Big Bazaar is not known for high class service. The staff recruited is not very well trained and the billing queues take a long time to move, this irritates customers which makes them visit the store more seldom 5. Lower quality of goods: As the sore is trying to concentrate on the middle income group the type of products used is not of the most superior quality and most of the times nor branded, this may dissatisfy certain customers 6. Consumer satisfaction: Long queues and lower quality leads to dissatisfaction of customers. Due to factors mentioned above Big Bazaar shoppers are not always satisfied, this is not a positive for the store.

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Lifestyle Pros: 1. Variety: The variety of goods and products at Lifestyle is like a one stop shop for customers. It provides household products and other products like apparels etc. This attracts customers 2. Layout: Lifestyle provides ease of shopping by providing them with a very clear store layout which is an essential element in attracting customers as it pleases them. 3. Ambience: Lifestyle has a very pleasing ambience which helps in shopping, the colours, lights and others help in encouraging customers in shopping. 4. Brand Awareness: Lifestyle has a high level of brand awareness among customers in and around the city. It is a popular store, this helps in attracting customers as publicity by person to person by word of mouth helps Shoppers stop in getting more customers. 5. High Income Groups: Lifestyle attracts mainly the high income group although it attracts the middle income group as well but not as much as the high income group

Cons : 1. Expensive: Lifestyle has a label which is tagged in the minds of customers that it is expensive and therefore this affects the sale of goods in the store. 2. Less Advertisement: Lifestyle is not known much for their advertisements and the advertisements done are very less as well. This does not attract more customers to the store.

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3. Very few outlets: Lifestyle is not spread all over the city and hence this causes a problem for customers to travel far distances to get to the store and hence they find alternatives. 4. Less Attraction: The attraction in Lifestyle is less compared to other stores, i.e., the sales and offers are lesser and as the store attracts people with higher incomes the number of sales per year is lesser this does not attract other customers 5. Loss on middle income groups: The store loses out on the middle income group which is more dominant in India, with lesser or reduced prices the middle income group can be attracted.

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FINDINGS & SUGGESTIONS

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CONCLUSION

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Bibliography

Books:

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Philip Kotler. Retail Management Swapna Pradha. Retailing Management. Mumbai. The McGraw-Hill companies, 2nd Edition. Internet: WWW.GOOGLE.COM WWW.WIKIPEDIA.COM www.writinghelp-central.com

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ANNEXURE

Format of the Questionnaire Employed

Dear Respondents,

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I (Shashwat Pandey), student of

Sinhgad Institute Of Business Administration And

Research, conducting a study on the Consumer Perception of retail stores w .r. t to, Big Bazaar viz. a viz. Lifestyle. Please fill in the following questionnaire to help me in my survey.

NAME: AGE: GENDER: 18-28 Male 28-38

OCCUPATION: 38-48 Female 48-58 58-65

1) How often do you shop? Once a week Fortnightly Once a month

2) Which of the following stores do you shop at? Big Bazaar Shopper's Stop ____________________________________ Lifestyle Others (specify)

3) What do you mostly shop for at the mentioned stores? Clothing Accessories Groceries

Others (specify) ____________________________________

4) Rank your preferences for shopping: Proximity Brand Quality Price

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Store Layout

One-stop shopping

5) Does advertising and promotion influence your shopping decisions? Yes No

6) Which form of promotion do you think is most effective? Print TV Radio

7) Indicate your satisfaction level based on the following parameters for the following stores: Retail Outlet Satisfactory Unsatisfied Satisfied Highly Satisfied Big Bazaar Lifestyle 8) What rating(0-4) you Give to mentioned stores? Big Bazaar Lifestyle Mark & Spencers Shoppers Stop

9) Do you use cards of any of the store ? Yes No

10) If yes, Are you satisfied with the services provided on membership card? Yes No

11) Which of the following stores provide better services?

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Big Bazaar

Lifestyle

Shoppers Stop

Marks & Spencers

12) How do you find the ambience and overall layout ? Satisfactory Not so good Satisfied Highly Satisfied

Thank you!!!

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