A PROJECT REPORT ON IDENTIFYING, ANALYSING AND UNDERSTANDING THE CONSUMER BEHAVIOUR FOR THE LOOT (I) PVT. LTD.

(PUNE)

SUBMITTED TO UNIVERSITY OF PUNE

IN PARTIAL FULFILLMENT OF 2 YEARS FULL TIME COURSE MASTERS IN MARKETING MANAGEMENT (M.M.M.)

SUBMITTED BY AKSHAY K. HALDE ( BATCH - 2006-08 )

BRACTs Vishwakarma Institute of Management, Kodhawa, Pune- 411014. ACKNOWLEDGMENT

I take immense pleasure in completing this project and submitting the final project report. The last 2 months with THE LOOT PVT. LTD. has been full of learning and sense of contribution toward the organization. I would like to thank THE LOOT PVT LTD for giving me an opportunity of learning and contributing through this project. I also take this opportunity to thank all those people that made this experience a memorable one. A successful project can never be prepared by the single effort of the person to whom project is assigned, but it also demand the help and guardianship of some conversant person who helped the undersigned actively or passively in the completion of successful project. I would like to express my sincere gratitude to my project guide Mr. Manoj Jha (Area Sales Manager & BD), under whose proficient guidance I have completed this project. I would like to thank THE LOOT Store, Pune for giving me an opportunity to apply my knowledge in the fieldwork. Special thanks to Mr. Rajendra Rathod (Operations Head) & Mr. Ravi Shankar (Senior Visual Merchandiser) for their guidance throughout the project and Mr. Santosh Pansare (HR Head) for his cooperation. During the actual project work, Mr. Prashant Shinde (Store Manager) & Mr. Rohit more (supervisor) has been a source of inspiration through his constant guidance; personal interest; encouragement and help. I convey my sincere thanks to him. In spite of his busy schedule he always fined time to guide me through the project. I am also grateful to him for reposing confidence in my abilities and giving me the freedom to work on my project. I would finally like to express my heartfelt thanks to Mr. Sharad Joshi, Director of Vishwakarma Institute Of Management, for generally sharing his insight and experience with me and Prof. Jyoti Mishra, Vishwakarma Institute Of Management, for his guidance in completion of the project and for constant encouragement to put best efforts. AKSHAY HALDE

Table Of Contents

S. No. 1 2

CONTENTS Executive summery Project title

PAGE NUMBER

3 4 5 6 7 8 9 10 11 12

Introduction Industry Profile Company Profile Product Profile Research Methodology Data Analysis Observation & Findings Limitations Recommendations Reference

Executive Summary

Executive Summary

I undertook my summer training with THE LOOT INDIA PVT. LTD. A retail company with 28 retail stores all over India. The Loot is a Discount store of Apparel, Accessories & Footwear.

The internship at The Loot store was my first exposure to the retail industry where I had my first experience of how the retail store functions, in terms of operations and visual merchandising. THE LOOT operates in various apparel & foot wear products. The evaluation of trend in apparel & foot wear has been increased through decades, which is best seen in customer rise. Now a days purchasing power has assumed great importance to fulfill needs. According to the study of the markets, it is being observed that markets are doing well in retail (apparel & foot wear sector). Near future it would have a big required to invest money in all type of retail chain because there is good potential in market to invest. I hope THE LOOT, Pune will recognize this as well as take more references from this project report. The main objective of this project is to know the Awareness, perception and customer preferences of among retailer and also to know the living style of people in different areas. IT, Manufacturing, Insurance and Infrastructure sector has been given more emphasis for the study of the project because it is the only sector because of that retail is on boom.After analyzing the feedback the conclusion has been made that the Indian Customer market is having lots of potential, the only thing is to give a proper guidance to the prospective customers.

Project Title

Project Title

Identifying, analyzing and understanding the consumer behavior about the Loot Store This research report Identifying, analyzing and understanding the consumer behavior about the Loot Store. CUSTOMER SATISFACTION was based on survey as a well

as study of their whole trade areas. Through this survey I have to give the actual data to THE LOOT that what are the responses or feedback of their existing customers regarding the product, shop after buying from The Loot. Therefore I have prepared one Questionnaires. Questionnaire was for the existing customers of the as well as for Non-Existing customers or new customers. Through the feedback of the existing customers of the The Loot, Ill get to know that what are the companies strength and what are their weaknesses, so that they will work on those areas. Where as through non existing customers Ill get to know about the requirements of other persons trading with other retail shop i.e., what they need which they are not getting from The Loot. As it is only around 5 Month has been passed that The Loot has been launched in Pune city. So being a 1st summer trainee of The Loot, Pune branch, it was a great opportunity for me to take up this topic as a challenge. Because the result of this project or survey will be very much beneficial for me as well as companies point of view, so that they will get to know about their strength and weaknesses and they will know that how much of market they have captured within 5 month. What people think about this Store? To improve the sales, made survey inside the store with various customers by questionnaire form. An organized retail store in Pune region was conducted, research included study of Lifestyle of the potential customer & with other customer too, preferences, current fashion & trends, regional attributes, competitors analysis and idea about what type of customer , what want . Observation technique is the method used for data collection. For the assessment of operation efficiency, customer satisfaction survey is conducted wherein Questionnaire & Interview are the techniques used for the collection of data. Store operations included stock management, housekeeping, merchandising, billing, maintenance etc. Population for the survey consisted of the incoming customers. These customers were made to fill up the questionnaire or interviewed.

Introduction

Introduction
Summer training forms an integral part of the curriculum of MMM course at VIM. It gives us an insight into the working of the real corporate world. It gives us the practical knowledge of the working of the organizations. During the short time within the industry, we get to learn the various aspects of an organization like the culture followed the functional aspects etc. The main objective of the summer internship is to experience the various concepts that we learn in our first year of management course, as learning the concepts is very different from experiencing them at a concrete level. We learn to face the various

situations by establishing relationships between real and significant factors in a situation. We also learn that in a given situation all the functional aspects are inter-related; one functional aspect cannot be isolated from the organization. We learn to be more confident by judging the various situations based on our reasoning and by the application of our knowledge in these situations. While doing the summers, it is expected that we do not hesitate in doing some basic clerical job so that we get in touch with the organizational realities. The organizational concepts that were taught in the classroom were observed and a concrete level experience was obtained by being a part of the process. In the Internship approach, students are expected to work in routine operations, which bring them in touch with the organizational realities. It is not assigning a project and being isolated from other processes happening in the organization. Rather than doing an individual project, being with the organization and understanding the process happening was the main focus. Observing the processes and understanding the procedures and being a part of the culture is equally important. This helps the students to experience all functional aspect of business and their linkage between them. In this way, students learn the concrete context of the organizations.

Store Operations

The retail store is of prime importance for the retail organization, for two reasons. The first reason is that the retail stories the primary source of revenue for the retailer & the second reason is that it is the point where customer actually interacts with the retail store & its offerings. The primary responsibility within the environment of the retail store lies with the store manager. Responsibilities of a store manager include -:

1) Customer Service
Instill in the employees, the meaning & importance of customer service as outlined in the retail philosophy. Promote & monitor the quality of service among the staff through training & by acting as a positive role model. Be personally available to all customers to communicate & identify their needs & to address their questions & concern.

2) Budgeting & Planning

Ensure that goals will be met through appropriate planning organization of staff, inventory & expenses, for short & long term success. Develop & monitor the capital expense budget to ensure that the store is properly maintained & upgraded so as to meet the high maintenance standards to reflect good image. Monitor a loss prevention program to protect the companys inventory & assets.

3) Personnel
Hire the right people for the right job. Inspire employees so that each person contributes to the productivity of the store. Delegate the work load appropriately & effectively. Write performance evaluations & goal assessments for the Assistant store manager. Discipline employees according to the companys disciplinary policies.

4) Communication

Communicate with the regional office/ head office as per the requirements laid down by the organization with reference to sales, targets, customer service, events & local issues.

Hold staff meetings to boost employee morale & drive for achieving the results needed. Ensure that company policies & procedures are communicated in a timely manner & adhered to strictly. Motivate & develop staff in order to encourage their professional development.

5) Legal Compliance
Ensure that the store is in compliance with all employment laws, including those regarding wage & hour, human rights & equal employment opportunities. Maintain safe working conditions for employees & customers; Resolve safety concern quickly. Ensure store security from internal & external theft.

Elements/ Components of Retail Operations

Store Administration & management of the premises. Managing Inventory & Display Managing Receipts Customer Service Managing Promotions, Events, Alliances & Partnerships Visual merchandising

Store Administration & Management of Premises Receiving & Displaying Goods Managing Alliances/ Partnerships & Promotions/ Events Providing Customers Shopping Experience

Recording Sales

Industry Profile

Industry Profile
Overview -: Retailing is the final stage of any economic activity. Retailing, by its very nature, is a dynamic industry. It occupies an important place in the world economy.

Retailing in more developed countries is big business and better organized than it is in India. The organized sector has up to 80% share of retail sales in US. The corresponding figure for Western Europe is 70%, while it is 40% in Brazil. The retail sector in India is unique. Much of it is in the unorganized sector, with over 5 million retail outlets of various sizes and formats. With 5.5 outlets per 1000 people, India has the largest number of outlets in the world. Most of them are independent & contribute as much as 96% to the total retail sales. India represents an economic opportunity on a massive scale, both as a global base & as domestic market. At present the organized sector accounts for only 2 to 4% of the total market although this is expected to rise by 20 to 25% on YOY basis. Retail is Indias largest industry accounting for over 10% of countrys GDP & around 8% of the employment. The market size of Indian retail industry is about US $ 330 billion & is expected to grow to over US $ 500 billion by 2011. Organized retail comprises only 2.8% of the total retailing market & is estimated at about US $ 8.7 billion. Organized retail sector is expected to grow to US $ 70 billion by 2010.

Top 20 Retailers world wide

Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Retailer Wal-Mart Stores, Inc. Carrefour Group The Kroger Co. Metro A G The Home Depot, Inc. Albertsons Inc. ITM Enterprises SA Sears, Roebuck and Co. Kmart Corporation Target Corporation J. C. Penney Company, Inc. Royal A hold Safeway Inc. Rewe-Gruppe 15 Tesco PLC Ito-Yokado Co., Ltd. Edeka-Gruppe Costco Companies, Inc Tengelmann Warenhandelsgesellschaft The Daiei, Inc.

Sales (US $) $163,532.0 $52,196.1 $45,352.0 $44,163.4 $38,434.0 $37,478.0 $36,762.5 $36,728.0 $35,925.0 $33,702.0 $31,503.5 $31,222.2 $30,801.8 $30,578.0 $30,404.4 $30,237.6 $30,002.6 $26,976.5 $26,509.1 $26,486.1

Retailers in India
1. Aditya Birla Group 2. Bharti Retail 3. Reliance Fresh 4. Westside 5. Big Bazar 6. Pantaloons 7. Central 8. Shopper Stop

9. Archies 10. Cafe Coffee Day 11. Landmark 12. Crossword

The Organized Retail Pie

Clothing & Textile Food & Grocery Consumer Durables 39% Footwear Furniture & Furnishings Catering Services Jewellery & Watches 9% 9% 11% Books, Music & Gifts Mobile Handsets Others

3% 4% 3% 7% 7% 8%

Organized & Un-organized Retail in India

2010
3

91

2004

97

20

40

60

80

100

Organized Sector

Unorganized Sector

The Pivotal Role of Retailer in the Marketing Channel First Manufacturer or Agent/ Distributor Second Manufacturer or Agent/ Distributor Third Manufacturer or Agent/ Distributor

Retailer 1

Retailer 2

Retailer 3

Retailer 4

C1

C2

C3

C4

C5

C6

C7

C8

C9

Factors which influenced Retail Industry

1. Economic Growth 2. Urbanization 3. Consumerism 4. Holding Inventory 5. Providing Services 6. Providing Information

Competition
Michael Porters Model of Five Competitive Forces

Potential Entrants Bargaining Power of Suppliers Threat of New Entrants

Suppliers

Industry Competitors, Rivalry among Existing Firms

Buyers

Threat of Substitute Products or Services

Bargaining Power of Buyers Substitutes

Threat of New Entrants

In case of Indian retail sector there exists high threat of new entrants as the sector itself is in a nascent stage &is growing. Barriers to entry are very limited.

Threat of Substitutes
The presence of substitutes can lower the attractiveness & profitability because they limit the price levels. In Indian retail, threat of substitutes is very high. The unorganized retailing in India is still the largest wherein cheaper versions of product are available. This still services the middle & poor income families in the country.

Bargaining Power of Suppliers

Suppliers to the retailing industry are the companies who provide finished product to make various retail products. The bargaining power of suppliers varies from the products supplied. The bargaining power of suppliers is low because there are large no of potential suppliers in the market. Therefore the prices become competitive.

Bargaining Power of Buyers

In Indian retail, bargaining power of buyer is fast increasing & can be termed as moderate to high, depending on the product or service. The buyers are the most powerful in the retailing industry.

Intensity of Rivalry
The competition among the existing firms in Indian market is not very high as there are few players in the market. High product differentiation is the major factor that intensifies the competition.

Current Status

Retail industry in India has emerged as one of the most dynamic and fast paced industries with several players entering the market. But because of the heavy initial investments required, break even is difficult to achieve and many of these players have not tasted success so far. However, the future is promising; the market is growing, government policies are becoming more favorable and emerging technologies are facilitating operations. Retailing in India is gradually inching its way toward becoming the next boom industry. The whole concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. Modern retail has entered India as seen in sprawling shopping centers, multistoried malls and huge complexes offer shopping, entertainment and food all under one roof. The Indian retailing sector is at an inflexion point where the growth of organized retailing and growth in the consumption by the Indian population is going to take a higher growth trajectory. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are the key growth drivers of the organized retail sector in India. These are the key attractions for global retail giants wanting to enter newer markets. Some of the international players that have already entered India include Mc Donalds, Pizza Hut, Dominos, Levis, Lee, Nike, Adidas, TGIF, Benetton, Swarovski, Sony, Sharp, Kodak, Medicine Shoppe etc.

Traditional Formats Itinerant salesmen Haats Moles Mandis, etc.

Established Formats Kirana Shops Convenience/ Department Stores Company/Multi Brand Showrooms PDS/Fair Price Shops Co-operative Stores Pan/Beedi Shops

Emerging Formats Exclusive Retail Outlets Hypermarkets Internal Malls Malls/Specialty Malls Multiplexes Rural Oriented Formats Fast Food Outlets Service Galleries, etc.

Company Profile

Company Profile

Mr. Jay Gupta: Managing Director. Mr. Jay Gupta is a true entrepreneur by nature. After doing his schooling from Dr. Grahams School in Kalimpong, Darjeeling, he did his graduation from S.I.E.S College Mumbai. He has been a dreamer & a visionary, he always dreamt of being the BEST, never the biggest. This attitude is what has made him whatever he is today. Barely out of college, he started his business in the year 1996; initially he got into the garment business by opening some franchisees for brands like Color plus, Adidas, etc. But soon realized that he was not able to give the BEST to the customers, he then pondered & got into the Idea of giving the best brands to the customer at the best prices. This is when he conceived the idea of THE LOOT. After trailing in business for many years; he conceptualized & set the first THE LOOT store in mid 2004. The concept was so well accepted & appreciated by both the customers & business associates that within 18 months THE LOOT has about a 16 outlets across Mumbai, Navi-Mumbai, New-Delhi, Hyderabad, Vizag, Pune, Surat & Nashik. During his early years in business he has worked closely with many brands of repute & understood that to make this business scalable, he has to bring in a lot of professional people on board, he is in full swing recruiting some of the best talents in retail. Mr. Jay believes that Life is always tough, but you can make it easier by sharing your dreams & then creating co-dreamers. He along with a team of professionals has now mapped up the growth of THE LOOT to about 100 Crores by 2008-09. He feels that he has got a model which will work in any town in this country, hence he sees no hitch in the growth. However, he is truly aware of the competitive market of Indian retailing & hence adding a lot of USP into his business, which will always keep him different than other players in the market.

Mr. RajinderPal Chhabra: CEO

Mr. Rajinderpal P. Chhabra the CEO spearheads the Finance and Business Development division of the chain. A graduate of the Mumbai University, Mr. Chhabra brings along a wealth of experience in strategic financial management, having spent 39 fruitful years in the banking industry. He began his career in finance with the Reserve Bank of India, where he spent 17 years and then switched over to the Industrial Development Bank of India where he rose to become the Chief General Manager before retiring in March 1998. Prior to joining The LOOT, Mr. Chhabra served as the Director of Garware Chemicals and Garware Polyester, overseeing all operation of the plants, including production, marketing, administration besides finance and accounts. His expertise in financial planning and managerial skills will certainly give thrust to The Loots growth plans. The LOOT is a multi-brand discount store, offering customers a wide range of products with discounts ranging between 25% -60% throughout the year. The store retails brands like Kappa, Bossini, Adidas, Nike, CAT, ID, Spykar, Lilliput, Giny & Jony, Disney, Ruff Kids, Lee Youth, W, Welspun, Puma, Reebok, Fila, Umbro, New Balance, Van Huesen, Allen Solley, Arrow, Lee, Lee Cooper, Wrangler, Pepe Jeans, Parx, Park Avenue, Colours, Blackberrys, Rifle, Ragz jeans, Recap, SF jeans, Thomas Scott, Red Tape, Marco Ricci, Rifle and international brands like Banana Republic, GAP, Old Navy and Mercedes Benz. The LOOT started in the year 2004 as a Value Retail format. Post the launch and the stupendous success of the first store in the year 2004, The LOOT has set up 25 outlets, which are currently operational. In the year 2005, The LOOT was nominated in India Fashion Forum for the best value store in India; and again in 2006, The LOOT was nominated in India Retail Forum for the best value store in India.

The LOOTs strength as a retailer lies in proper procurement & an excellent supply chain management. This helps in getting better pricing from the manufacturer and thereafter passing the benefit on to the consumer. The LOOT currently offers the right mix of mens and womens semi-formal, formal, casuals, sports category of garments, footwear & accessories, kids wear etc. The company has focusing on 3 formats as below: MEDUIM - 2500-4000 Mens/Womens/Footwear/Accessories LARGE - 4000-8000 Mens/Womens/Kids/Footwear/Accessories XTRALARGE - 8000++ Mens/Womens/Kids/Footwear/ Accessories/Lifestyle

products/Coffee shop and space for shops in shop The LOOT currently operates 20 stores in cities like, Mumbai, Navi-Mumbai, NewDelhi, Pune, Surat, Ahmedabad, Jabalpur, Aurangabad and Nashik. Shortly opening stores in cities such as Sonipat, Ludhiana, Mysore, Raipur, Baroda, Guwahati, Bangalore, and Kalyan in Mumbai are on the anvil. To propel the growth of the company and to move to the next level, The LOOT has invested skillfully in IT. The company focus is also on personnel training and great emphasis is being laid on preparing the back end to take growth to about 100 stores by the year 200809.

Product Profile

Product Profile
The Loot store provides wide variety of brands in Apparels, Accessories & Footwear.

The store is divided into four sections -: 1. Womens wear Section 2. Kids wear Section 3. Menswear Section 4. Sports wear & Foot wear Section Apparels are divided in following categories.

Apparel

Menswear

Womenswear

Kids wear

Formal

Casual T-shirts Shirts Denims Cargo Skirts Tops Dress

Ethnic

Sportswear

Accessories

Innerwear

Kurta Pyjama Dupatta

T-shirts Track suits Shorts Costumes

Belts Towels Caps Socks Handkerchiefs

Footwear is divided in following categories.

Shirts Trousers

Footwear

Mens Footwear

Womens Footwear

Casual Footwear

Formal shoes

Sports shoes

Sports shoes

Floaters

Brands available at The Loot store

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47

Adidas Allen Solly Arrow Benetton Giny Jony Eccentric Thomas Scott Lee Lee Cooper Wrangler Pepe Jeans Rifle SF Recap GAP Blackberrys Provogue Welspun Liliput CAT Reebok Bossini Ragz Jeans Spykar Jeans Oobe Indian Terrain Puma ID Tuscan Verve Red Tape Disney Bossini Kids M Marco Ricci Mercedes Benz New Balance Kappa Van Heusen Parx FILA Old Navy Banana Republic Ruff Kids Grab W Park Avenue Colours

Research Methodology

Research Methodology
Sampling Technique -: Random Sampling Sample Size -: 100 Method of Data Collection -: Questionnaire

Questionnaire
Name -: 1. Age -: Below 18 18 30 30 45 Above 45 2. Gender -: Male Female 3. Occupation -: Self Employment Service Student Others 4. Income -: Less than 5000 5000 10000 10000 20000 Above 20000

6. From where did you come to know about The LOOT store? Newspaper Radio Mirchi TV Friends & Relative Other 7. How frequently do you visit The LOOT store? Once in 15 Days Once in a Month Thrice a Month Once a Six Months Any Special Occasion 8. On what basis do you make the purchase decision? Price Quality Brand Name Location Service 9. Which line of products do you generally purchase? Gents Ladies Kids Sports wear

10. What amount do you approximately spend on each visit? Less than 1000 1000 2000 2000 4000 More than 4000 11. Which stores other than The LOOT store do you visit? Brand Factory Mega Mart Koutans K.K. Bazar Others 12. Are you happy with the prices offered by The LOOT store? Very Good Good Average Poor Very Poor 13. How was your overall shopping experience in The LOOT store? Excellent Good Satisfied Poor 14. Will you shop again in The LOOT store? Yes No May Be

15. How will you rate the following attributes? Least Preferred Price Product Range Service Brand Location 16. Do you find the sales staff knowledgeable & helpful? Always Sometimes Never 17. Is sufficient product range available in the store? Always Sometimes Never 18. Are you satisfied with the offers in the store? Always Sometimes Never 19. Are your suggestions & queries taken care of? Yes No Sometimes 20. What do you dislike about The LOOT store? 21. Any Suggestions. Average Preferred Most Preferred

Data Analysis

Data Analysis

1) Age Below 18 18 to 30 30 to 45 Above 45 5 89 5 1

AGE WISE 5% 1% 5%
Below 18 18 to 30 30 to 45 ABOVE 45

89%

Observation:- 89% footfall of total customer footfall is 18 to 30 years and others are less. Conclusion:- To increase footfall of rest age category company should have more verity stock which suitable for there suitable category.

2) Gender MALE FEMALE 67 33

G E N D E R W IS E
33%
MA LE F EM A L E

67%

Observation -: 67% of the total customers coming to the store is Male, while females are only 33%. Conclusion -: To increase the no. of female customers, store has to keep attractive offers on ladies wear. Advertising should be done to influence the women also.

3) Occupation Self Employment Service Student Other 12 35 49 4

o c c u p a tio n w is e

4%

12%
S E LF E M P LO Y M E NT S E R V IC E

49%

35%

S TU D E N T O TH E R

Observation -: 49% of the customers are students &35% are from the service. Conclusion -: We should concentrate on the needs & consumption patterns of these customers to retain them as well as Attract the self employed customers as they have potential purchasing power.

4) Income Wise <5000 5000 to 10000 10000 to 20000 Above 20000 18 20 34 28

IN C O M E W IS E

28%

18%
< 5000 5000 TO 10000 10000 T O 20000 ABO V E 20000

20% 34%

Observation -: 34% customers income is between 10000 & 20000. 28% customers earn above 20000. Conclusion -: Majority of the customers have potential purchasing power. Thus sales staff should be motivated to increase their sale by add owns.

5) From where did you come to know about The LOOT store? TV Newspaper Radio Mirchi Friends & Relatives Other 2 18 2 53 25

Sources of aw areness of loot stores

25%

2%

18% 2%

TV Newspaper Radio mirchi Friends & Relativ es other

53%

Observation -: 53% customers came to know about the store from their friends & relatives. Thus main publicity medium for the store is through word of mouth. Conclusion -: Store should concentrate on stock & service provided at the store. New offers & promotional activities should be carried out in the store.

6) How frequently do you visit The LOOT store? Once in a 15 days Once in a month Thrice in a month Once in a six month Special occasions 9 30 4 19 38

F re q ue n cy o f cu sto me r v isit

9% 3 8% 3 0%

O n ce in 15 d a ys O n ce in a m o n th T h rice in a m o n th O n ce in a six m o n th An y sp e cia l o cca sio n

19 %

4%

Observation -: 38% of the customers visit the store only on any special occasion. 30% of the customers visit the store once in a month. Conclusion -: Store should be made more attractive on special occasion to create long lasting impact on the customers. Visual merchandising should be changed

monthly according to season or latest fashion.

7) On what basis do you make the purchase decision?

Price Quality Brand Name Location Service

39 74 47 4 7

B ase s fo r C u sto m e r P u rc h ase D e cisio n

80 70 60 50 40 30 20 10 0

P ric e Q u a lity B ra n d N a m e L o c a t io n S e rvic e

Observation -: Majority of the customers make their purchase decision on quality & brand name. Conclusion -: The store needs to maintain the quality of the products kept in the store. Products of the well known brands should be kept in sufficient quantity & variety.

8) Which line of products do you generally purchase? Gents Ladies Kids Sports wear 69 45 3 23

L in e o f P r o d u c t P u r c h a s e d b y C u s t o m e r

80 60 40 20 0

69 45 23 3 1 G e n tsL a d i e sK i d s S p o r ts w e a r

Observation -: Majority of the customers purchases gents & ladies wear. Sales of kids & sport wear are very low because customers are unaware of these sections in the store. Conclusion -: Window display should include kids wear, sports wear & footwear so customers will come to know about these sections. Some of these items should be displayed near the entrance to increase its sales. Customers coming for purchasing gents & ladies wear should be encouraged to visit these sections also.

9) What amount do you approximately spend on each visit? Less than 1000 1000 to 2000 2000 to 4000 Above 4000 31 58 15 1

A m o u n t S p e n d b y C u s t o m e r o n e a c h V is it

60 40 20 0

L e s s t h a n 1 0 0 0 0 t o 2 0 2 0 0 0 t o 4 0 M 0o r e t h a n 4 0 0 0 1 0 0

Observation -: Majority of the customers spend between 1000 & 2000 on each visit to the store. Conclusion -: Bill size can be increased by motivating the sales staff to increase their individual sales.

10) Which stores other than The LOOT store do you visit? Brand factory Mega Mart K. K. Bazaar Koutans Others 33 26 17 13 11

C u s t o m e r V is it O t h e r D is c o u n t e d S t o r e

11% 13% 33%

17% 26%

B r a n d F a c t o r y g a M a Kt .K . B a z aKr o u t a n s t h e r Me r O
OBSERVATION:- 33% of purchaser visit to Brand Factory, 26% visit to Mega mart, 17% to K.K. Bazar. 13% to Koutans and rest visited to other rest and local malls..

11) Are you happy with the prices offered by The LOOT store? Very Good Good Average Poor Very Poor 12 54 33 10 1

C u s t o m e r S a t is f a c t io n o f P r ic e o f f e r e d b y t h e L o o t s t o r e

10% % 33%

12%
Ve ry G o o d G ood Av e ra g e poor Ve ry P o o r

54%

54% customer who purchased from LOOT store are satisfied about price which we offered on different brands, 12% customer are very impressed about offered prices,33% are averagely satisfied, 12% customer wanted more discount, 10% customer are not satisfied.

12) How was your overall shopping experience in The LOOT store? Excellent Good Satisfied Poor 13 47 36 4

S h o p p in g E x p e r ie n c e in t h e L o o t s t o r e

P oor 4% S a tis f ie d 36%

E x c e lle n t 13% E x c e lle n t G ood S a tis f ie d G ood 47% Poor

Obsrvation:- 13% customers says they have good experience while shopping in The Loot, 47% said it was good experience here,36% are satisfied, 4% said is very poor. The percentage of satisfied customer is more.

13) Will you shop again in The LOOT store? Yes No May be 75 2 23

C u s to m e r W illin g n e s s to S h o p A g a in in th e s to r e

23% 2% Yes No May be 75%

OBSERVATION:- 75% Customer are willing to come again, 2% said no, and 23% said may be,most of the customer want to shop again in The loot.

14) How will you rate the following attributes?

Price Product Range Service Brand Location

1. Price Preference
Attributes Price Least Preferred 23 Average Preferred 32 Most Preferred 45

C ustome r's Pre fe re nce to the price

23% 45% 32%

Least P reffered Average Preffered Most P effered

Most of the customers come to shop because they find reasonable price of the products.

2. Brand Preference
Attributes Brand Least Preferred 23 Average Preferred 32 Most Preferred 45

C u stome r P re fe re nce to the B rand

23% 45% L e ast P re ffe re d Av e rag e P re ffe re d M ost P e ffe re d 32%

Because of the good brands available at the store customers are get attracted.

3. Product Range Preference

Attributes Product Range Least Preferred 35 Average Preferred 31 Most Preferred 34

c u s to m e r p r e fe r e n c e to p r o d u c t r a n g e

34%

35%

L e a s t P r e fe r r e d Av e r a g e P r e fe r r e d M o s t P r e fe r r e d

31%

Product range or the variety of products available at the store are not up to the mark. Only 34% of the customers are attracted towards it.

4) Service Preference

Attributes Service

Least Preferred 15

Average Preferred 25

Most Preferred 60

custome r pre fe re nce to se rv ice

15%
Least Pref erred

60%

25%

A v erage Pref erred Mos t Pref erred

Customer service provided at Loot store is quite good. Most of the customers like to visit the store because of this factor.

5) Location Preference
Attributes Price Brand Product Range Service Convenience location Total Least Preferred 16 23 35 15 23 112 Average Preferred 29 31 30 25 13 128 Most Preferred 55 44 33 59 63 254 Total 100 98 98 99 99 494

customer preference to Location convienence

23%

Least Preferred
64% 13%

Average Preferred Most Preferred

The location of the store is also at the heart of the city. So it also becomes convenient to the customers to come again and again for shopping.

15) Do you find the sales staff knowledgeable & helpful? Always Sometimes Never 66 32 2

S a le s s t a f f a r e K n o w le d g e a n d H e lp f u l t o C u s t o m e r o r n o 2% 32% A lw a y s S o m e t im e s N ever 66%

The sales staff available at the store find quite helpful always for the customers to find out the right product which they want.

16) Is sufficient product range available in the store?

Always Sometimes Never

22 71 7

A v a ila b ilit y o f P r o d u c t R a n g e t o t h e C u s t o m e r

7%

22%

A lw a ys S o m e t im e s Never

71%

78% of the total customers are not happy with the available range of the products at the store. So it is very important to increase the product range according to the fashion.

17) Are you satisfied with the offers in the store? Always Sometimes Never 37 60 3

C u s t o m e r S a t is f a c t io n w it h t h e O f f e r s in t h e s t o r
3% 37% A lw a ys S o m e tim e s Never 60%

Maximum number of customers are found out sometimes satisfied with the offers which the store is giving. Offers can be improved to increase the sale.

18) Are your suggestions & queries taken care of? Yes No Sometimes 74 2 24

C u s t o m e r Q u e r ie s a n d S u g g e s t io n t a k e n c a r e o r n o t

24% Yes No 2% 74% S o m e t im e s

74% of the total number of the customers are happy as their complaints and suggestions are taken proper care by the store.

Comparison Age with customer purchase decision (Male)

Age wise 18 to 30

Price 25

Quality 40

Brand 26

Location 4

service 5

C o mp arin g Ag e wise with P urchase D e cisio n

4% 26%

5%

25%
P rice Q u a lity Bra n d L o ca tio n se rvice

40%

The male customers in the age of 18 to 30 are found out more conscious about the quality of the products.

Comparison Age with customer purchase decision ( Female)

Age wise 18 to 30

Price

Quality

Brand

Location

service

39 65 5 7 comparision age 45 wise purchase de cision

3% 28%

4% 0%

24%

Age wise Price Q uality B rand Location se rv ice

41%

The female customers in the age of 18 to 30 are found out more conscious about the quality of the products.

Comparison Age with Line of products purchased

Age wise 18 to 30

Gents 68

Ladies 14

Kids 0

Sports wear 18

comparision age with line of product purchased

18% 0% 14% 68%

Gents Ladies Kids Sports wear

It is found out that from the total number of customers 68% of the customers are male so there is wide scope to increase the ladies section.

Comparison Age with Offered Price

Age Below 18 18 to 30 30 to 45 Above 45

Very Good 1 10 1 1

Good 3 51 4 0

Average 0 33 0 0

Poor 0 0 0 0

Very Poor 0 0 0 0

Age Comparision With Offered Price

60 50 40 30 20 10 0 Very Good 1

51 33

below 18 18-30 30-45

0 0 0 0 0 0 Poor 0 0 0 0 Very Poor

10
1 1 3 5 0 0

Good

Avg

aove 45

The main segment of the customers i.e between the age of 18 to 30 are found the offers are good at the store.

Comparison Occupation with frequency of visiting customers

occupation Student Service Self Employment other Total 15 days 3 3 1 0 7 1 month 11 12 3 3 29 3 months 4 0 0 0 4 6 months 9 7 2 0 18 occasionally 29 12 4 0 45 Total 56 34 10 3 103

c o m p arisio n o ccu p a tio n w ith fre q u e n tly v isitin g c u sto m e r 120 100 80 60 40 20 0
15 da ys 1m on th 3m on th oc ca sio na lly 6m on th To tal
S tu de nt S ervic e S elf E m p . o the r Tota l

The number of customers who visited the store occasionally is quite high but there are around 30% of the customers who visit the store once in a month.

Comparison of occupation with amount spent on each visit

Occupation Student Self Employment Service Others Total

< 1000 19 2 8 1 30

1000-2000 23 8 20 2 53

2000-4000 8 0 7 1 16

More 4000 1 0 0 0 1

thanTotal 51 10 35 4 100

comparison occupation with amont spend

120 100 80 60 40 20 0 < 1000 1000-2000 2000-4000More than 4000 Tota l stude nt Se lf e m p. se rvice othe rs Tota l

Student spends quite usually around 1000 2000 Rs. In there each shopping.

Observation & Findings

Observation & Findings Observations:

Lack of Girl staff. Service is not good as per customer expectation. Due to Power cut regularly Debit Machine does not Work so the customer has to wait for a long time. Sometimes this leads to cancellation of bill. Customers are facing problem of Steps (especially top floor). Stock is the major problem for customer; they are not getting the proper sizes, and the varieties which they need. Trial room is the major problem for Ladies, so the customer hesitates to get in to the trial room. Music is very bad; it is not standard as it should be. Over stacking on the gondolas is the problem for the customer to find out the proper collection.

Findings
Majority of customers found that they are not getting the proper & sufficient stuff with variety and sizes. Accessories (impulse product) should be including in the store. Customers feel that the stock should be updated. Advertisement need to be done at national level. Emphasis on more variety, Brand. If they get fewer discounts, it is acceptable. Customer need more likely in terms of environment. Customers want more branches, so that they find ease in shopping.

Limitations

Limitations

Following are some of the limitations-

1 . Poor supply chain management (delay in delivery of product).

2. No advertising.

3 . Not more Branches.

4 . keeping limited stuff.

Recommendations

Recommendations

From our survey we found that Majority of the customer who visit to the store is around 89% between the ages of 18 to 30. So our present target customers are youth, so the product range should be available as per the requirement. Majority of the customer visited the store through the Word of mouth publicity. Majority of the customers are student, so we need rigorous Advertisement in colleges to get more customers. Majority of the customers are First Visitors, in that 38% are satisfied, it can be more than this if the availability of the product is increased by 45 to 50%. 60% of the customers are sometimes satisfied with the offers in the store. Out of these 44%of the customers are more conscious about the quality of the product. So if we want to increase our percentage of existing customer, we need to concentrate on Quality.( reduce defective pieces) Acrylic sheet between the stair case , so that we can display messages like Buy 1 get 1, Up to 60%, path finder , any new offer can be displayed.

REFRENCES

REFRENCES

1. Marketing Management - Philip Kotler & Kevin Lane Keller 2. Research Methodology- C.R. KOTHARI 3. www.google.com 4. Retail Swapna Pradhan