INSTITUTE OF MANAGEMENT STUDIES GHAZIABAD

A PROJECT REPORT ON To Measure the Brand Loyalty Of Vishal Mega Mart

PROJECT REPORT SUBMITTED TOWARDS PARTIAL FULFILMENT OF POST GRADUATE DIPLOMA IN BUSINESS MANAGEMENT
(Approved by AICTE, Govt.of India) ACADEMIC SESSION 2011-2013

SUBMITTED TO:Prof. Soumen Mukherjee

SUBMITTED BY:-

(Project Supervisor)

PREFACE

As an integral part of course curriculam, all PGDM students are required to visit in an organization to check out brand loyalty within managrs and customers towards that organization. The main objective of this visit is to interaction of students with managers and customers of that organization. This programmed enhanced the students capability to cope up with the uncertainties and challenges, which are the part and parcel of every organization.

The subject of my research was BRAND LOYALTY OF VISHAL MEGAMART I feel highly gratified in this report. It has been my constant endeavor to present this report in the most systematic analytical manner.

ACKNOWLEDGEMENT

This report has been successful with the help of many people and without their cordial support it would not have existed. We would like to express our sincere and sense of gratitude to our seniors, librarian and faculty members who supports us in all manner and capable us to complete this project. Our greatful thank to Mr.Rajesh Chauhan ( Store Manager of Vishal Mega Mart, Ghaziabad) who helped us and cooperative with us for the successful completion of this project

We acknowledge our deepest thanks to our project guide Prof. Soumen Mukhrjee (Project Supervisor) for all his encouragement and suggestion at the crucial stage of the project.

Lastly we like to thanks to our entire group members who has spend their valuable time and were dedicated towards their respective work.

DECLARATION

We hereby declare that the work presented in the report is being submitted is the authentic record of our work carried out under the supervision of professor sumen mukharjee faculty of managerial communication.

We have not submitted the matter presented in this report for the award of any other degree anywhere else.

GROUP MEMBERS:-

TABLE OF CONTENTS

S.No.

PARTICULARS

PAGE NO.

1 2 3 4 5 6 7 8

Introduction Preface Acknowledgement Introduction Conclusion Recommendations Limitations Binliography

EXECUTIVE SUMMARY

We have done two small surveys by questionnaire method, both is to check brand loyalty in terms of manager towards organization and customer towards organization Survey through questionnaire is very much success managers are satisfied from the organization they are satisfied both in monetary and intellectual development. In terms of customer, they are also satisfied with the brand image of vishal megamart. According to them, they bought the products at much discount which is privilege in the market. They are also satisfied in terms of quality of products available in the vishal market. HR manager of vishal megamart also informed us that providing all these facilities to our customer makes us to faces loss also. But the company very much success to maintain a good brand image among the customers which is long-term profitability for the company.

INTRODUCTION

The American Marketing Association defines brand loyalty as: 1. "The situation in which a consumer generally buys the same manufacturer-originated product or service repeatedly over time rather than buying from multiple suppliers within the category" (sales promotion definition). 2. "The degree to which a consumer consistently purchases the same brand within a product class" (consumer behavior definition).[1] In a survey of nearly 200 senior marketing managers, 69 percent responded that they found the "loyalty" metric very useful. Brand loyalty, in marketing, consists of a consumer's commitment to repurchase or otherwise continue using the brand and can be demonstrated by repeated buying of a product or service, or other positive behaviors such as word of mouth advocacy.

Brand loyalty is more than simple repurchasing, however. Customers may repurchase a brand due to situational constraints (such as vendor lock-in), a lack of viable alternatives, or out of convenience. Such loyalty is referred to as "spurious loyalty". True brand loyalty exists when customers have a high relative attitude toward the brand which is then exhibited through repurchase behavior. This type of loyalty can be a great asset to the firm: customers are willing to pay higher prices, they may cost less to serve, and can bring new customers to the firm. For example, if Joe has brand loyalty to Company A he will purchase Company A's products even if Company B's are cheaper and/or of a higher quality. From the point of view of many marketers, loyalty to the brand in terms of consumer usage is a key factor.

Factors influencing brand loyalty

It has been suggested that loyalty includes some degree of pre-dispositional commitment toward a brand. Brand loyalty is viewed as multidimensional construct. It is determined by several distinct psychological processes and it entails multivariate measurements. customers' satisfaction, repeat purchase behavior., Customers' perceived value, brand trust, and commitment are found to be the key influencing factors of brand loyalty. Commitment and

repeated purchase behavior are considered as necessary conditions for brand loyalty followed by perceived value, satisfaction, and brand trust.[7]Fred Reichheld,[8] One of the most influential writers on brand loyalty, claimed that enhancing customer loyalty could have dramatic effects on profitability. Among the benefits from brand loyalty specifically, longer tenure or staying as a customer for longer was said to be lower sensitivity to price. This claim had not been empirically tested until recently. Recent research[9] found evidence that longer-term customers were indeed less sensitive to price increases.

Andrew Ehrenberg, then of the London Business School said that consumers buy 'portfolios of brands'. They switch regularly between brands, often because they simply want a change. Thus, 'brand penetration' or 'brand share' reflects only a statistical chance that the majority of customers will buy that brand next time as part of a portfolio of brands they favour. It does not guarantee that they will stay loyal. Influencing the statistical probabilities facing a consumer choosing from a portfolio of preferred brands, which is required in this context, is a very different role for a brand manager; compared with the much simpler one traditionally described of recruiting and holding dedicated customers. The concept also emphasises the need for managing continuity.

One of the most prominent features of many markets is their overall stability or marketing inertia. Thus, in their essential characteristics they change very slowly, often over decades sometimes centuries rather than over months. This stability has two very important implications. The first is that those who are clear brand leaders are especially well placed in relation to their competitors and should want to further the inertia which lies behind that stable position. This, however, still demands a continuing pattern of minor changes to keep up with the marginal changes in consumer taste (which may be minor to the theorist but will still be crucial in terms of those consumers' purchasing patterns as markets do not favour the over-complacent). These minor investments are a small price to pay for the long term profits which brand leaders usually enjoy.The second, and more important, is that someone who wishes to overturn this stability and change the market (or significantly change one's position in it), massive investments must be expected to be made in order to succeed.

COMPANY PROFILE

CONCLUSION

Following are the certain conclusions about brand loyalty of vishal mega mart y The employee is strongly satisfied from the company. Company provide proper training to his employees.

Company also allows to their employees in decision making process.

Company also allows to their employees in decision making process.

The company employee turn over ratio is slightly less than the other retailers

Customers are also satisfied with the products available at vishal mega mart

Company give branded products at much lesser cost

In the weekend sales of company is more compare to weekdays.

The main target of the company is the middle level family.

There are proper lighting facilities and air-condition facilities also makes comfortable to customers while purchasing the products.

There are no such big retail outlet also helps the vishal mega mart to attract more customers.

Target basis work in some departments makes the employee to sell more to achieve the given target.

RECOMMENDATIONS

There are certain recommendations to the vishal mega mart after that visit of brand loyalty 1. Though the company having good command middle level family, the company should try to grab the the upper level family also.

2. There are certain good brand which is not available in company. So the company can attract more customers by fetching those brands also.

3. The company carry goods facilities is not good so it has to take care of that also.

4. Limited billing counter some time create problems to handle more customers.

5. Some customers are also saying that the tag is also missing on some products.

LIMITATIONS OF THE STUDY

The research is conduct by taking India as a primary focus, due to time constraint.

All information given in this project might not be true which can affect the analysis.

Limited Time: As less time availability is there, we could not devote much time on this project as we are also busy with class schedule.

Comparative analysis of black money of other countries were not done.

BIBLIOGRAPHY

SEARCH ENGINES:1. www.google.com 2. www.wikipedia.com

WEBSITES:1. www.vishalmegamart.net 2. www.megamalls.in