A Study on CONSUMER BEHAVIOR WITH REFERENCE TO AT VASUDHA PHARMA CHEM LIMITED (JEEDIMETLA, HYDERABAD)

Synopsis report submitted in partial fulfillment of requirement for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

Submitted by K. PRADEEP KUMAR Regd No. 110225602119 (2010 2012)

NOBLE INSTITUTE OF SCIENCE & TECHNOLOGY LANKELAPALEM, VISAKHAPATNAM

INTRODUCTION OF CONSUMER BEHAVIOR

Consumer is an important person for a marketer. We cant think of marketing without consumer a successful marketer is own who may be able to understand the liking and disliking of the consumers of his product. In others words, understanding consumer behavior is most for a marketer to survive in this competitive world.

What is consumer behavior?

Consumer behavior refers to how a consumer behaves or acts or reacts in making a purchase of goods and services of his choice in different situations.

Definition:
The decision process and physical activity individuals engage in when evaluating, acquiring, using or disposing of goods and services.

- David Loudon and Albert j.Delia Bitta

INDUSTRY PROFILE

The Indian pharmaceutical industry is the world's second-largest by volume and is likely to lead the manufacturing sector of India. India's bio-tech industry clocked a 17 percent growth with revenues of Rs.137 billion ($3 billion) in the 2009-10 financial year over the previous fiscal. Bio-pharma was the biggest contributor generating 60 percent of the industry's growth at Rs.8, 829 crores, followed by bio-services at Rs.2, 639 crores and bio-agri at Rs.1, 936 crores. The first pharmaceutical companies are Bengal Chemicals and Pharmaceutical Works, which still exists today as one of 5 government-owned drug manufacturers, appeared in Calcutta in 1930. For the next 60 years, most of the drugs in India were imported by multinationals either in fully formulated or bulk form. The government started to encourage the growth of drug manufacturing by Indian companies in the early 1960s, and with the Patents Act in 1970, enabled the industry to become what it is today. This patent act removed composition patents from food and drugs, and though it kept process patents, these were shortened to a period of five to seven years. The lack of patent protection made the Indian market undesirable to the multinational companies that had dominated the market, and while they streamed out, Indian companies started to take their places. They carved a niche in both the Indian and world markets with their expertise in reverse-engineering new processes for manufacturing drugs at low costs. Although some of the larger companies have taken baby steps towards drug innovation, the industry as a whole has been following this business model until the present.

COMPANY PROFILE

Vasudha Pharma Chem Limited was incorporated as a public limited company under the Companies Act, 1956 at Hyderabad in the state of Andhra Pradesh, India during the year 1994 - 95. The company is engaged in the manufacturing of Active Pharmaceutical Ingredients ( APIs ), Pharma Intermediates for catering to the domestic as well as international market. The company recognized the vital role of R & D for becoming successful in the generic market. Initially, the focus was on development of cost effective processes for several intermediates related to piperidone & piperidine derivatives. By 2003 -04, the company gained world class expertise and became the largest manufacturers of piperidone & piperidine derivatives in the world. Subsequently, the company forward integrated from intermediates of piperidone & piperidine derivatives to APIs and later on diversified into large product portfolio of about 30 APIs spreading across several therapeutic areas. With the strength of its portfolio, the gross sales of the company has grown from Rs 16.50 million ( US$ 0.36 million ) in 1997 -98 to Rs 2.36 billion ( US$ 51.30 million ) in 2008 - 09 ( considering 1 US$ = Rs 46.-- ). The composition of export sales to gross sales is mostly around 45% due to the importance given to the product quality, timely delivery and competitive pricing. The company has two manufacturing facilities. First manufacturing facility at Jeedimetla, Hyderabad, Andhra Pradesh was set up in 1997 - 98 and subsequently upgraded to cGMP standards in 2006 - 07. Second manufacturing facility was set up in Jawaharlal Nehru Pharma City, Visakhapatnam District, Andhra Pradesh in 2007 - 08 with WHO GMP standards. The company has started the project implementation of its third manufacturing facility at Jawaharlal Nehru Pharma City, Visakhapatnam District with initial capital outlay of Rs 300 millions

NEED OF THE STUDY

Customers play a vital role in the increase of sales and in getting profits to the company. As competition in retailing industry is growing up day by day, every company needs to concentrate on each and every aspect of its activities. Customers should be satisfied with Merchandise, quality, place where it is located, ambience, services etc. So every company needs to know the perception of its customers over its retail outlet and try to reach expectations of the customers in every aspect so that the defects are minimized.

OBJECTIVES OF THE STUDY To study the consumer behavior of consumers towards apparel stores. To understand the determinants features of consumer behavior in apparel retailing. To study the characteristics influencing the buying behavior. To study the personal, psychological things the buying behavior. To study the customer perceptions about the apparels. To study the availability factor according to the customer requirements. To study the brand image in view of customers.

METHODOLOGY

While deciding about the method of data collection to be used for the study, we have to consider two types of data, one is primary data, and other is secondary data. Primary data are those which are collected afresh and for the first time, and thus happen to be original in character. Whereas secondary data are those which have already been collected by someone else and which have already been passed through the statistical process. The methods of collecting primary and secondary data differ since primary data is to originally collected, while in case of secondary data the nature of data collection work is merely that of compilation. the

Primary data:

In primary data collection, I followed two methods,

Interview method:
This method comes under primary data. This method involves presentation of oral-verbal stimuli and reply in terms of oral-verbal responses. This method also includes personal interviews which are useful in collecting data by asking questions in a face-to-face contact to other person.

Questionnaire method:
This also comes under primary data. In this method a questionnaire is sent to the persons or employees concerned with a request to answer the questions and return the questionnaire. A questionnaire consists of no. of questions printed or typed in a definite order. The respondents have to answer the questions on their own.

Secondary data :
Secondary data may either published data or unpublished data. Published data is available in various publications of the central, state or local governments. This is also collected from various books, magazines and news papers. The sources of unpublished data are many like diaries, letters, unpublished biographies and auto biographies and also may be available with scholars and research workers, trade associations, labor bureaus and other public private individuals and organizations. As compared secondary data the primary data is more factual.

LIMITATIONS OF STUDY

The research has been confined to know the consumer patronage behavior several aspects which may be important from the other point of view of the study. The study covers only few consumers i.e. the sample size is 100 only.

The study is limited to Hyderabad (jeedimetla) vasudha pharma chem. Ltd.

The questionnaire is constructed by considering the major aspects only. The data limited to one store consumer only This study is useful to retail sector only

CHAPTERISATION

1. CHAPTER - I Marketing

1. Introduction to 2. 3. 4. 5. 6. Introduction of topic Need for the study Objectives Methodology Limitations

2. CHAPTER - II

1. Industry Profile 2. Company Profile 1. Basic Features of Consumer 2. Functions of Consumer 3. Types of Consumer 4. Scope of Consumer 5. Benefits

3. CHAPTER - III Behavior Behavior Behavior Behavior

4. CHAPTER - IV

1. Data Analysis 2.Interpretation 1. Conclusion 2.Findings

5. CHAPTER - V

3.Suggestions 4.Questionnairae 5. Bibliography