Big Ankita Final Print.docx

A STUDY OF EFFECTIVENESS OF PROMOTIONAL STRATEGY ATBIG BAZAAR DURING FEBRUARY-MARCH 1. INTRODUCTION ABOUT RETAIL INDUSTRY The Indian retail industry has emerged as one of the most dynamic and fastpaced industries due to the entry of several new players. Total consumption expenditure is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.

MAJOR RETAILER IN INDIA     

PANTALOON TATA GROUP RPG GROUP RELIANCE GROUP A V BIRLA GROUP

BIG BAZAAR Pantaloon is the biggest retailer in India with more than 450 stores across the country. Headquartered in Mumbai, it has more than 5 million sq. ft retail space located across the country. In 2001, Pantaloon launched country’s first hypermarket “BIG BAZAAR”. Company Profile: Type: Subsidiary of Pantaloon Group Founded:2001. Headquarters: Mumbai, India. Industry: Retail Parent: Pantaloon Group. Owner: Kishore Biyani. Slogan: Is se sasta aur accha kahi nahin BIG BAZAAR BigBazaar is an Indian retail store that operates as a chain of hypermarkets, discount department stores, and grocery stores. The retail chain was founded by Kishore Biyani under his parent organisation Future Group, which is known for having a significant prominence in Indian retail and fashion sectors. 1

VISION:“TO EMERGE AS THE BEST AND THE MOST PROFITABLE RETAILER IN INDIA”. MISSION: “TO SPREAD HIS COMPANY TO BE THE FINEST AND THE MOST PREFERED CHAIN RETAILING”.

MARKETING MIX (4P’s) PRODUCT MIX APPARELS: Denim &shirts, Fabrics. Formal Wear, Casual Wear

FURNITURE: Dinning Table, Bedroom Accessories, Hall Accessories (Sofa sets, chairs, Tv unite etc.) HOME DÉCOR: 1) Flower vase, artificial flower, Religious gift, Table Stand, Photos, Frames, Painting, Birthday item, Carpet, Door mat etc. HOME CARE: Shampoo, Detergent, Soaps, Liquid Wash, toothpaste, personal care, lotions, Deodorants, beauty products, Bathroom accessories (towel stand, dustbin, wiper, washer) etc. GROCERY: Cereals, rice, vegetables, biscuits, Pulses, Snacks, Ready to eat products etc CHILL STATION: Soft Drink, Packed juice, Milk Items, Frozen Foods

FARM PRODUCE: Fruits, Vegetables, Imported Fruits, Dairy Products etc

PRICE MIX The pricing objective at Big Bazaar is to get ³Maximum Market Share. Pricing at Big Bazaar is based on the following techniques:  Value Pricing (EDLP - Every Day Low pricing): Big Bazaar promises consumers the lowest available price without coupon clipping, waiting for discount promotions, or comparison shopping.

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 Promotional Pricing: Big Bazaar offers financing at low interest rate. The concept of psychological discounting (Rs. 99, Rs. 49, etc.) is also used to attract customers. Big Bazaar also caters on Special Event Pricing  Differentiated Pricing: Differentiated pricing i.e. difference in rate based on peak and non- peak hours or days of shopping is also a pricing technique used in Indian retail, which is aggressively used by Big Bazaar. e.g. Wednesday Bazaar  Bundling It refers to selling combo-packs and offering discount to customers. The combo- packs add value to customer and lead to increased sales. Big Bazaar lays a lot of importance on bundling. 3 Good Day family packs at Rs 60(Price of 1 pack = Rs 22)5kg oil + 5kg rice + 5kg sugar for Rs 599

PLACE MIX    

Initially Identifies Future/Potential development areas. Acquire such areas at an early phase before the estate value Located at high traffic area. Design to look crowded

PROMOTION MIX       

“Saal ke sabse saste 3 din” Future Card (3% Discount) Advertising (Print ads, TVS ads, Radio) Brand Endorsement by M.S. Dhoni& other big celebrities Exchange Offer Weekend Discount Point of Purchase Promotion

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CUSTOMER SERVICE WITH REFERENCE TO BIG BAZAAR Customer service is the provision of service to customer before, during and after a purchase. According to Turban “Customer service is a series of activities designed to enhance the level of customer satisfaction – that is, the feeling that a product or service has met the customer expectation”. Its importance varies by product, industry and customer, defective or broken merchandise can be exchanged, often only with a receipt and within a specified time frame. Big Bazaar will often have a desk or counter devoted to dealing with returns, exchanges and complaints, or will perform related functions at the point of sale; the perceived success of such interaction being dependent on employees “who can adjust themselves to the personality of the guest.” Customer service plays an important role in an organization ‘s ability to generate income and revenue. From that perspective, customer service should be included as a part of an overall approach to systematic improvement. A customer service experience can change the entire perception a customer has of the organization.

CUSTOMER SEGMENTATION OF BIG BAZAAR  Big Bazaar target higher & upper middle-class customer  The large and growing young working population is a preferred customer segment.  Big Bazaar specially targets working women & home markets who are the primary decision maker.

BIG BAZAAR USES 8 GOLDEN RULES TO DEAL WITH CUSTOMER SERVICES     

Answer the phone Don’t make promise unless you will keep them Listen to your customer Deal with complaints Be helpful

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 Train your staff to be always helpful, courteous and knowledgeable.  Take the extra step  Throw in something extra.

OFERS DURING FEB TO MARCH 2019 IN BIG BAZAAR

Every day low value price strategy

Fig 1.1 Every day value offer

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Fig 1.2 Every day value offer

THE GREAT EXCHANGE OFFER

Fig 1.3 The great exchange offer

Big Bazaar Exchange Value for Old Products:  

Old Newspaper – ₹50/kg Old Clothes (Including Bedsheet, Towels, soft toys, Men’s Jacket) – ₹100/kg 6

                  

Old TV – ₹5000/Piece Old Refrigerator – ₹5000/Piece Old AC – ₹5000/Piece Old Washing Machine – ₹3000/Piece Old Computer/Laptop – ₹4000/Piece Old Microwave/Oven/OTG – ₹3000/Piece Old Mobile Phones – ₹5000/Piece Old Electronics/Small Appliances – ₹1000/Piece Old Bed – ₹3000/Piece Old Sofa – ₹1000/Piece Old Furniture – ₹100/kg Old Utensils – ₹300/kg Old Plastics – ₹100/kg Gas Stove – ₹500/Piece carpet – ₹500/Piece Doormat – ₹50/Piece Old Mattress – ₹1000/Piece Pillow – ₹50/Piece Old Luggage – ₹200/Piece

TERMS & CONDITION More Details of This Big Bazaar Exchange Offer 

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“The Great Xchange Program” is applicable from 16th February 2019 till 24th March 2019 (inclusive both days) (hereinafter referred to as “Xchange Period. Xchange Coupon issuance is from 16th February 2019 to 17th March 2019 & Coupon Redemption is from 16th February 2019 to 24th March 2019. Xchange coupon will be issued during Xchange Period at all Big Bazaar stores, select Big Bazaar Gen-NXT Stores, Hyper city stores and select Food Bazaar stores. Redemption of Xchange Coupons will be valid only during Xchange period at all Big Bazaar, select Big Bazaar Gen-NXT, select Food Bazaar and select Hyper city stores. 7

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Value of junk/scrap will be issues only in the form of Xchange Coupons Once scrap is exchanged for Xchange coupons, customer cannot reclaim scrap under any circumstances. No cash/credit note/Gift Voucher/ other mode of payment shall be issued in exchange of junk/ scrap/ old merchandise. Xchange coupons are non- transferable and cannot be exchanged in lieu of Cash/ Cheque/ GV or any other mode. Old merchandise to be exchanged must have resale value. Future Retail Limited (FRL) and/or representative at its own discretion reject/ accept junk/scrap from customers at select stores and decide the value of junk/ scrap and the value Xchange coupons. No dispute or correspondence in this regard shall be entertained. The customer must ensure that s/he receives a Weight Measurement Coupon (hereinafter referred to as “WMC”) with duly filled in details like their name & mobile/ telephone no., type & quantity of junk, Xchange value of junk, store stamp, staff name & signature and date in exchange of scrap submitted. Customer must ensure that the WMC is preserved carefully for collection of Xchange coupons. FRL shall not be responsible in case of any damage, loss, wear and tear, etc. to the WMC and will result in not issuing Xchange coupons in lieu of said WMC by FRL. Photocopies of WMC shall not be accepted for issuance of Xchange Coupons. Xchange coupons shall be redeemed in full; partial redemption is not allowed. Xchange coupon cannot be clubbed with any other voucher/coupon. No two vouchers can be clubbed together. No two offers can be clubbed together. FRL may pick up junk from the location of customer at its sole discretion and no dispute in this regard shall be entertained by FRL. Upon miss call from customer, IVR call back/ SMS from Company/ FRL may get delayed due to network error/ issue.

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REVIEW OF LITERATURE According to Kotler (2003), Sales Promotion is a key ingredient in marketing campaigns and consists of a diverse collection of incentive tools, mostly short term designed to stimulate quicker or greater purchase particular products or services by consumers.

Copulsky and Wolf (1990) argued that relationship marketing involves advertising, sales promotion, direct Marketing and Public relation so as to attain effective and efficient consumer contact.

Merlin (1996) also have highlighted that relationship Marketing would be effective only if it uses promotion, communication and customer management to identify and build customer changing needs.

Bejou (1998) analyse the effects of customer satisfaction on relationship marketing with respect to marketing mix.

Kotler (2000) declares that the most essential thought to accomplish high store loyalty is for firms to convey high client esteem. Store loyalty is viewed as one of the significant drivers of achievement.

Bloemer.J (2002) in his paper discussed about the importance of trust and commitment on customer satisfaction and loyalty.Marketing strategyhas been a salient focus of academic inquiry since the 1980s, according to(Mavondo 2000). There are numerous definitions of marketing strategy in the literature and suchdefinitions reflect different perspectives (Li et al 2000).

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3SIGNIFICANCE OF RESEARCH  Consumer always looking for ways to save money, and they prefer to buy from stores that offer the best deals. To attract and retain them company offers such things to them.  Increases sales: - When you offer discounts, specials or coupons, you will draw more respondents to your store. Increased traffic will typically lead to an increase in sales.  Enhance brand Awareness:-Offering discounts and special deal is an effective way to gain consumer attention. Depending on how you advertise your discounts, you may be able to make your business known to a lot of respondents.  Free Up Storage Space: - Some of your products may have been sitting in your store for a long time. By offering them at discounted prices, you will be able to sell them more easily and make room for new products. The best way to get customers to buy your discounted items is to place them at the front of your store or other conspicuous locations.  Improve Reputation: - Offering discounts can also help enhance the reputation of your company. If you offer discounts or coupons to senior citizen, military personnel and needy respondents, your business will gain recognition as a socially responsible organization.  Meet sales goal: - Most businesses have sales goals, and they need to meet those goals in order to remain profitable. If you think that your business is not going to reach its sales goals, you can try to boost sales by offering discounts.  Choosing the right time to offer discounts can make a big difference in the success of your promotional strategy.  With proper planning and timing, it can drive your business to new heights of success.

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3.1 RESEARCH PROBLEM  It is very important for any company to know how the customer perceive their products, services or the organization as a whole.  To understand relevance of that offer and also how positively or negatively it making an impact on consumer buying behaviour.  To understand the suitable time period and duration for the offer to be floated.  Promotional activity done by company just to attract the customer and induce them to make purchases.

3.2OBJECTIVESOF STUDY  To test the effectiveness of the communication of the offers to the customers.  To test the awareness level among public with respect to offers at big bazaar.  To test promotional strategy and its effect on the organization.  To test promotional strategy and its impact on the sales of the organization during this period.  During promotional scheme very little attention is given towards the sectional profitability and the impact thereof on the marketing strategies.  To know the consumer behaviour in retail industry with reference to big bazaar.  At which section consumer pays more attention or we can say the profit maker during offer time like as grocery, apparels, appliances etc.  To know how much frequency a consumer visit during offer day rather than normal day.  Also, to understand the perception toward prices, product, variety, the shopping experience, parking facility, billing system, promotional offers, interaction with the sales personnel etc. and weak area here we should improve.

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3.3SCOPE OF RESEARCH  This study will help to find out effectiveness of other different offers or promotional activities carried out by big bazaar on different other occasion on festive or different month.  The study can be done on offers proposed by them yearly.  The study will be used to find out promotional activities effectiveness with its competitors in retail sectors or for the comparison of offers offered by them.  The study will be done on retail industry with its different competitor or to compare promotional offer month wise proposed by them and customer response for them.

3.4RESEARCH DESIGN A research Design is a method and procedure for acquiring information needed to solve the problem. A research design is a basic plan that helps in data collection or analysis. It specifies the type of information to be collected, the source and collection procedure. A good research decision will ensure that the data collected is relevant to the objectives to be achieved.

Exploratory research design: Exploratory research focuses on the discovery of the ideas; the major purpose of this study is to identify the problem. It is used in initial phase of the research. The broad and vague problem divided into small and precise statements. Exploratory research is intended to develop initial insight and provide direction for any other further research needed. Data source: Primary data (From questionnaire or personal interaction) Sample plan: Personal Interview Sample unit: Customer at big bazaar Sampling Method: Convenience sampling Sample Size: 135 Customer

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3.5STATISTICAL TOOLS For data collection Structured questionnaire For Data Coding Different types of scales as per the requirement For Analysis MS Excel Statistical tools Z- test, CHI- TEST

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4.DATA ANALYSIS AGE CHART

AGE CHART

9% 1% 16% 14%

16%

Below 20

21 to 30

30 to 40

44%

40 to 50

50 to 60

Above 60

FIG 9.1 AGE OF RESPONDENTS

DATA The first criteria respondents were asked to indicate was the agegroup they belonged to. Respondents were asked to chooseamong four age group categories, viz., below 20, 21-30, 31-40, 41-50, 51-60, 60 above years. The agegroups were identified askey factors impacting shopping and purchase decisions of consumers. ANALYSIS From the table, and pie chart depicted above, the distribution of the population under study is evident. Of the 135 respondents who answered the questionnaire, 44% indicatedthat their ages fell in the category 21-30 years 30% indicated below 20 & 30-40, 14% indicated 40-50 year, 9% indicated 50-60 and 1% indicated 60 above. INTERPRETATION: By analysing the responses to this question, it identifies the demographics of the population that visit retail outlets. Thehighest number of respondents falls in the age group 18-40. It can be deduced that most of the consumers who visit retail outlets regularly are the youth. They make up almost morethan half of the population who shop at retail stores. 14

GENDER CHART

GENDER CHART

53%

MALE

47%

FEMALE

FIG 9.2 GENDER OF RESPONDENTS

ANALYSIS: From the survey, from 135 respondent’s female (53%) and male (47%) shows that female is more attracted towards offers as compare to male.From the table, and pie chart depicted above, the distribution of the consumers is evidentof the 135 respondents who answered the questionnaire, 72 were female and 63 weremale. It is evident from the responses and the subsequent tabulation that the number of female respondents was higher than that of the male respondents in the population under study. Female are the major buyers at the Big Bazaar.

INTERPRETATION: Another way that retail chains can use the above data is to think new techniques so thatthey can appeal to the men rather than the women. Since, fewer men visitretail 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 experiencethat attract men’s they can increase their loyal customers.

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MARITIAL STATUS

45% 55%

Married

Unmarried

FIG N0. 9.3 MARITIAL STATUS OF RESPONDENTS

ANALYSIS: From the above pie chart depicted through that from 135 respondent 55% are unmarried and 45% are married. It was clear from the above chart that big bazaar has many youth visitors so offer should be floated on section where they focus on mostly. INTERPRETATION: The above data shows that as the visitors are unmarried that means most of them belong to the age group from below 18 to 30 to 35 categories where they were interested not the household chores related product. But most may be in apparel, accessories, gadgets & electronic appliances.So offer should be floated on this section.

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QUE NO.1 WHICH OFFER MAKE YOU VISIT BIG BAZAAR DURING THIS PERIOD?

10% 38%

25%

27%

WEDNESDAY OFFER

THE GREAT EXCHANGE OFFER

SHOPPING REWARDS

GIFT CARD

FIG 9.4 OFFERS MAKE RESPONDENTS’ VISIT BIG BAZAAR FEBRUARY- MARCH

ANALYSIS:From the survey of 135 respondent majority of respondent says Wednesday offer makes them visit big bazaar during this month. Whereas Big bazaar has done most of its promotions for “The great Exchange offer” during the period 16th February to 24th March. This also shows respondents where less interested in this offer.

INTERPRETATION: From the above pie chart it was depicted that most of the visitor belong to particular age group i.e. from between 20 to 40. These are the respondents who like to do shopping and as it was shown major visitors are female so Wednesday offer is evergreen for them for making purchases regarding groceries or apparel as it was considered afastmoving consumable goods.

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HYPOTHESIS Ho: Irrespective of different offers respondent treat each offer equally H1: Irrespective of Different offers respondent treat each offer differently TABLE 9.1 OBSERVED

EXPECTED

WEDNESDAY OFFER

52

33.75 CHI SQ TEST

THE GREAT EXCHANGE OFFER

36

33.75 P VALUE

SHOPPING REWARDS

34

33.75

GIFT CARD

13

33.75

TOTAL

4.49272E-05

135

CHI SQ value is less than mean significance value i.e. 0.05 hence null hypothesis rejected. Hence different respondent has different intensity for promotional offers.

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QUE NO. 2 HOW FREQUENTLY YOU VISIT BIG BAZAAR DURING THIS OFFER PERIOD?

120 99

100 80 60

40 20

19

13 4

0 ONCE IN A WEEK

TWICE IN A WEEK

ONCE IN A MONTH

TWICE IN A MONTH

FIG 9.5 RESPONDENTS’ VISITED BIG BAZAAR FEBRUARRY TO MARCH

ANALYSIS: From the above bar chart it was depicted that majority of respondents visits big bazaar once in a month and after that following the others twice or weekly.

INTERPRETATION:From the survey of 135 respondent majority of respondent visit big bazaar once in a month.From this I interpret that most of the customers purchase goods in bulk which leads them tospend a lot. Volume sales are high in big bazaar. Customers tend to purchase more goodsfrom big bazaar as it provides goods at a discounted rate. Probably those persons whospend more in a visit to big bazaar are purchasing on a monthly basis. Those customerswho are spending very less money that is below Rs 500 are mostly coming in just to movearound big bazaar and spend time.

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HYPOTHESIS Ho: Irrespective of offers respondentsdon’t visit big bazaar on promotional offer time. H1:Irrespective of offers respondents visit big bazaar on promotional offer time. TABLE 9.2 OBSERVED ONCE IN A WEEK TWICE IN A WEEK ONCE IN A MONTH TWICE IN A MONTH TOTAL

EXPECTED 13 4 99 19 135

33.75 33.75 33.75 33.75

CHI SQ TEST P VALUE

5.80816E-37

CHI SQ value is less than mean significance value i.e. 0.05 hence null hypothesis rejected. Hence most of the respondent has visited frequently during this offer period.

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QUE NO. 3 THE PROMOTIONAL OFFERS AT BIG BAZAAR ARE ATTRACTIVE AND INDUCE ME TO MAKE PURCHASE? (RATE 1. STRONGLY DISAGREE TO 5. STRONGLY AGREE)

35%

34%

16% 10% 4% Strongly disagree

Disagree

Neutral

Agree

Strongly Agree

1

2

3

4

5

FIG 9.6 OFFERS ATTRACTED & INDUCED RESPONDENTS’ DURING FEBRUARYMARCH

ANALYSIS:From the survey of 135 respondent majority of respondent where neutral 35%about the promotional or marketing strategy used by them then 34% where feel so it was appealing enough, 16% strongly agree, 10% Disagree with the statement and 4% strongly disagree. Interpretation: From the survey of 135 respondent and questionnaire fill by the customer it seems that respondents didn’t get that striking and appealing effect from the promotional or marketing of the big bazaar. They should reach out to the customer through new modes by online advertisement and that too by creating good buzz or contest. Z test TABLE 9.3 Mean Std. Dev. Std. Err LCV UCV Significant/Not

3.474074074 1.028182207 0.088491835 2.826556004 3.173443996 Significant 21

QUE NO. 4 FOR WHICH RANGE OF PRODUCTS/BRANDS YOU EXPECT PROMOTIONAL OFFERS (PLEASE RANK FROM SCALE 1 BEING HIGH AND 4 BEING LOW) 500

455

450 400 331

350 300

271

293

250 200 150 100 50 0 GROCERY

APPAREL

ELECTRONICS

FURNITURE

RANK 1

RANK 2

RANK 3

RANK 4

FIG 9.7 RANK OF PRODUCT IN WHICH RESPONDENTS’ EXPECT OFFER

ANALYSIS:From the above responses depicted through bar graph respondents has ranked grocery as no.1 for getting more and more discount then apparel then electronics and then furniture.

INTERPRETATION: Respondent has ranked grocery as the first item where they want more offers followed by the apparel, electronics, furniture.From this I interpret that some of the products brand are predecidedin advance andfor some of the products customers don’t at all predecide any brand. Asper electronic goods are concerned customers predecide the brand as manybrandedelectronic products are available in big bazaar. The customers predecidesbrands oncloths and grocery most as big bazaar produces much of local brandsand also have somewell-known branded products of clothes with it like flyingmachine jeans. Groceries is the fastest moving consumer good. Retail outlets that provide groceries andapparels can see a higher rate of turnover and sales volume.

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TABLE 9.4 APPAREL RANK 1 RANK 2 RANK 3 RANK 4 COLUMN TOTAL CHI TEST

37 54 28 16 135 2.8988E-08

ELECTRONICS GROCERY FURNITURE ROW TOTAL 36 56 6 135 24 37 20 135 53 27 27 135 22 15 82 135 135 135 0.000111414 0.00213225

135 5.42353E-20

33.75 33.75 33.75 33.75

540

HYPOTHESIS Ho:Respondent want more offers in expensive category item like as furniture and electronics and less offer in apparel and grocery. H1: Respondent want more offer in apparel and grocery item and less in expensive item like as furniture and electronics. CHI SQ value is less than mean significance value i.e. 0.05 hence null hypothesis rejected. Whereas in Furniture it is equal to significance value means respondents are attracted toward cheaper item and less interested in purchasing expensive product.

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QUE NO.5 EMPLOYEES IN THE STORE HAVE PROPER KNOWLEDGE ABOUT THE OFFER TERMS AND CONDITION TO ANSWER CUSTOMER QUERIES? (RATE.1 STRONGLY DISAGREE TO 5. STRONGLY AGREE)

30%

32% 25%

7%

6%

Strongly disagree

Disagree

Neutral

Agree

Strongly Agree

1

2

3

4

5

FIG9.8 RESPONDENTS’ PERCEPTION TOWARD EMPLOYEES IN STORE

ANALYSIS: From the above responses it was depicted through bar graph that 32% Agree that employee in a store have proper knowledge regarding terms and condition properly whereas 30% are neutral about it 25% strongly agree, 6% Disagree and 7% Strongly Disagree. INTERPRETATION: Respondents has said whenever there is a query related to any offer such as discount or extra 10% off or Buy 1 Get1 kind of offer customer executive staff clarify their confusion. Respondents find it difficult to identify which section or in which brand offer was going on. TABLE NO.9.5 Z-TEST Mean Std. Dev. Std. Err LCV UCV Significant/Not

3.614814815 1.145954501 0.09862806 2.806689002 3.193310998 Significant

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QUE NO.6 OFFERS AND DISCOUNTS WHERE SAME AS IT WAS CONDUCTED WITHOUT ANY HIDDEN TERMS & CONDITION? (RATE.1 STRONGLY DISAGREE TO 5. STRONGLY AGREE)

40 35 35 30

32

33

25 20 20 15 15 10 5 0 Strongly disagree

Disagree

Neutral

Agree

Strongly Agree

FIG 9.9 RESPONDENTS’ RESPONSE TOWARDS OFFER TERMS & CONDITION

ANALYSIS:From the above responses it was depicted through bar graph that 35% people are disagree with this statement. 33% are agree, 32% neutral, 20% strongly disagree & 15% strongly agree. INTERPRETATION: Respondents feel so big bazaar don’t convey all the terms and condition properly specially for offer period time, coupon redemption & cash back. TABLE NO.9.6 Z-TEST Mean Std. Dev. Std. Err LCV UCV Significant/Not

2.911111111 1.242690069 0.106953732 2.790370685 3.209629315 Not Significant

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QUE NO.7 WHICH IS THE CONVENIENT WAY TO RECEIVE SHOPPING REWARDS AT BIG BAZAAR DURING OFFER PERIOD?

16% Profit Club

43%

Future Pay Pay Back

41%

FIG 9.10 RESPONDENTS’ CONVENIENT WAY TO RECEIVE SHOPPING REWARDS

ANALYSIS: From the above pie chart depicted that respondent think Pay back 43% as the convenient way to receive shopping rewards, 41% says Future Pay & 16% Profit Club. INTERPRETATION: PAYBACK Customers can have greater choice in earning and redeeming their rewards.PAYBACK Membership comes at no cost and offers a host of benefits. Members earn and redeem PAYBACK Points at over 100+ instore and offline partner brands. Points can be earned by booking movie tickets, fuelling up vehicle, for shopping at a variety of online shopping websites, buying groceries, publishing reviews, shopping for apparel and a lot more. Earned points can further be redeemed for rewards at the PAYBACK Rewards e-Catalogue or for refuelling the vehicle, booking travel and a lot more. This provide ease, variability and flexibility for the redemption of such rewards. Future pay has use only on some selected outlet and cashback was given on monthly instalment basis kind. Profit club 26

terms and condition likeProfit Club card where you make initial deposit of Rs 10, 000 and you are promised shopping of Rs 12, 000 (Rs 1, 000 per month), shopping beyond Rs 1000, you have to pay separately. Also, its initial amount for deposit is high which was unaffordable. HYPOTHESIS Ho:Irrespective of offer period respondent think all method are convenient to receive shopping rewards. H1:Irrespective of offer period respondent think different method are convenient to receive shopping rewards. TABLE NO.9.7 OBSERVED PROFIT CLUB FUTURE PAY PAY BACK AVERAGE

EXPECTED 21 56 58 45

CHI SQ TEST

45 45 45

6.62403E-05

CHI SQ value is less than mean significance value i.e. 0.05 hence null hypothesis rejected. People like pay back as most convenient way to receive rewards.

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QUE NO.8 WHICH SECTION YOU FOCUSED ON DURING THIS OFFER PERIOD?

1%9%

APPLIANCES

29%

APPARELS & ACCESSORIES ELECTRONICS

40%

GROCERY

21%

FURNITURE

FIG NO.9.11 RESPONDENTS’ FOCUS ON SECTION DURING OFFER PERIOD

DATA: Consumers approached were asked to indicate the types of products they mostly shoppedat Big Bazaar. The types of products presented were Appliances, Apparels &Accessories, Electronics, Groceries andFurniture. These products were identified by observation and interview as the most popular products that consumers shop for frequently. ANALYSIS: From the pie chart depicted above, the product frequently shopped by the consumers is evident. Of the 135 respondentwho answered the questionnaire indicated that 40% shop for the apparel, 29% shop for the grocery, 21% for electronics, 8% appliances. 1% furniture. INTERPRETATION: The high no. of response indicated that large number of respondents had focused on apparel section and secondly on grocery section to gain more and more discounts.

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HYPOTHESIS: Ho:Respondent focused on each section during promotional offer period equally H1:Respondent focused on each section during promotional offer period differently TABLE NO.9.8 OBSERVED

EXPECTED

APPLIANCES

12

27

APPARELS & ACCESSORIES ELECTRONICS GROCERY FURNITURE

55 28 39 1

27 27 27 27

AVERAGE CHI TEST

27 6.6824E-14

CHI SQ value is less than mean significance value i.e. 0.05 hence null hypothesis rejected. Hence people focused on each section during this offer period.

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QUE NO.9 WHAT IS YOUR OVERALL SATISFACTION RATE DURING THIS OFFER PERIOD AT BIG BAZAAR? (RATE.1 STRONGLY DISAGREE TO 5. STRONGLY AGREE)

45 40

41

40

35 30 25

24

20 18

15 10

12

5 0 Strongly disagree

Disagree

Neutral

Agree

Strongly Agree

FIG NO. 9.12 RESPONDENTS’ OVERALL SATISFACTION DURING THIS OFFER PERIOD

ANALYSIS: From the above bar graph, it was depicted that 41% respondents are neutral, 40% respondents are Agree, 24% respondents are strongly agreed, 18% Disagree & 12% Strongly disagree. INTERPRETATION: Most of the people where neutral because they didn’t participate in on going offer during this offer period. TABLE NO.9.9 Mean Std. Dev. Std. Err LCV UCV Significant/Not

3.340740741 1.179191242 0.101488623 2.801082299 3.198917701 Significant

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QUE NO.10 WHICH PROMOTIONAL SERVICE YOU LIKE MOST FROM BIG BAZAAR?

9%

DISCOUNT OFFER

5%

COUPONS

8%

FREE GIFT CARD

39%

WEDNESDAY OFFER 16%

EXCHANGE OFFER MONTHLY BACHAT BAZAAR 16%

7%

WEEKEND OFFER

FIG NO. 9.13 RESPONDENTS LIKE PROMOTIONAL SERVICE MOST DURING THIS PERIOD

Data: Consumers were asked to answered that during which offer they shop most at BigBazaar. The object of this question is to understand the type of offers which effect thesales of Big Bazaar. Analysis: From the table, and pie chart depicted above, the distribution of the consumers is evident. Ofthe 135 respondents who answered the questionnaire, 39% customers purchasedecision are affected by Discount offer16% are influenced byWednesday Bazaar or Free gift card and rest of the other by weekend, Monthly bachat bazar and another offer. Interpretation: By analysing the responses to this question, the offers which influence the customers most while purchasing at Big Bazaar.Appropriate decisions can be made keeping these numbers in mind. We should increase the no. of offers days as we can give fortnightly offers, andother additional discounts which are not available outside of Big Bazaar, so that wecan increase loyal customers so that they can influence more respondents and our customer base can be increased. Secondly, we can increase our advertisement on electronic media as now dayscustomers are also influenced by adds on TV, and other electronic media, 31

aboutdifferent offers as many customers are not aware of different offers going on at BigBazaar. HYPOTHESIS Ho:Irrespective of promotional offer period respondents like all the services H1:Irrespective of promotional offer period respondents like individual services TABLE NO. 9.10 OBSERVED DISCOUNT OFFER COUPONS FREE GIFT CARD WEDNESDAY OFFER EXCHANGE OFFER MONTHLY BACHAT BAZAR WEEKEND OFFER

52 9 22 22 11 12 7

AVERAGE

19.28571429

CHI TEST

2.52703E-14

EXPECTED 19.2857143 19.2857143 19.2857143 19.2857143 19.2857143 19.2857143 19.2857143

CHI SQ value is less than mean significance value i.e. 0.05 hence null hypothesis rejected. Hence, irrespective of different offer respondents like individual services.

32

QUE NO.11 WHERE DO YOU GET HEAVY DISCOUNT ON BIG BAZAAR? 0

13 THROUGH PROMO CODE 66

THROUGH DEBIT OR CREDIT CARD 56

THROUGH OFFER OR GIFT CARD

FIG NO. 9.14 RESPONDENTS’ GET HEAVY DISCOUNT ON OFFER PERIOD

ANALYSIS: As per my study is concerned, out of the total respondents 49% of respondents get discount on offer or gift card. 41% of them uses credit or debit card as their mode of paymentand 10% of the respondentslike through promo code in big bazaar. INTERPRETATION: Respondents are attracted toward offer or gift card because of getting more additional point because after receiving such points they will get return gift (which was another customer retaining activity)from big bazaar.

33

HYPOTHESIS Ho:Irrespective of promotional offer respondent treat all payment option equally to get discount H1:Irrespective of promotional offer respondent treat all payment option differently to get discount TABLE NO.9.11 OBSERVED

EXPECTED

THROUGH PROMO CODE

13

45

THROUGH DEBIT OR CREDIT CARD

56

45

THROUGH OFFER OR GIFT CARD

66

45

AVERAGE

45

CHI TEST

2.22211E-08

CHI SQ value is less than mean significance value i.e. 0.05 hence null hypothesis rejected. Hence, respondents treat all payment discount differently.

34

QUE NO.12 WHAT COMES TO YOUR MIND WHEN YOU THINK ABOUT BIG BAZAAR?

4%

DISCOUNT

21%

PRODUCT 33%

VARIETY

8%

BRAND QUALITY OFFER

18%

OTHER

16%

FIG NO.9.15 RESPONDENTS’ PERCEPTION TOWARDS BIG BAZAAR

DATA: Consumer approached were asked about what comes into their mind when they think about big bazaar. The factor point furnished were: Discount, product, variety, brand quality, offer & other. ANALYSIS: From the pie chart depicted above, the factor points which has highest number of percentage effecting purchase decision. Of the 135 respondents who answered the questionnaire, 33% answered as offer, then 21% discount, 18% variety, 16% brand quality 8% to product and others. INTERPRETATION: This question is aimed at understanding what element attracts the consumer the most. The preference points laid before the respondent have been the result od observation and interview. The highest response and factor are offer how interesting the offer is and also respondents are associating offer with big bazaar.

35

HYPOTHESIS Ho: Respondent perception toward all features of big bazaar were same during this offer period. H1: Respondent perception toward all features of big bazaar were different during this offer period. TABLE NO. 9.12 OBSERVED DISCOUNT PRODUCT VARIETY BRAND QUALITY OFFER OTHER

EXPECTED 28 11 25 21 44 5

AVERAGE

22.33333333 22.33333333 22.33333333 22.33333333 22.33333333 22.33333333

22.33333333

CHI TEST

5.7288E-08

CHI SQ value is less than mean significance value i.e. 0.05 hence null hypothesis rejected. Hence, respondents treat all payment discount differently.

36

QUE NO.13 HOW DID YOU FIND FOLLOWING QUALITIES OF STAFF?

100%

95%

90%

80% 70% 60%

50%

55%

52% 45%

50% 39%

40%

44%

30% 20%

11%

9%

10% 0% Courteousness

Grooming

Efficiency and Knowledge

FIG NO. 9.16 QUALITIES OF STAFF IN GOOD, AVERAGE AND BAD

ANALYSIS: From the above bar graph, it was depicted that Courteousness of an employee was 95%, Grooming 52%, Efficiency & Knowledge 45%. INTERPRETATION: As per the observation and my analysis people feel courteousness of the employees are much better which shows an attentiveness& responsible approach of an employee towards its customer.

37

HYPOTHESIS Ho:Irrespective of different parameters respondent think all qualities of staff are same H1: Irrespective of different parameter respondent think all qualities of staff are different TABLE NO.9.13 GOOD AVERAGE BAD

Courteousness Grooming OBSERVED OBSERVED 67 61 7

Efficiency and Knowledge OBSERVED 53 70 12

61 59 15

45

45

45

2.89148E-11

2.63191E-09

2.99179E-07

EXPECTED

AVERAGE CHI TEST

38

45 45 45

QUE NO.14 HOW DO YOU RATE FOLLOWING THINGS IN STORE? (RATE.1 STRONGLY DISAGREE TO 5. STRONGLY AGREE)

HOW DO YOU RATE THE FOLLOWING THING IN STORE? 70 60 50 40 30 20 10 0

64

55 42 42

36 19

14 10

40 20

16

50

48

45

36

33 22

13 15 18

13 17

7

33

15

13 8

18

25 12

Cashier Interaction

Cashier Speed

Checkout counter

Customer S/D

Loyalty Program

Parking Facility

5 strongly agree

19

16

17

18

15

18

4 agree

36

42

40

36

33

45

3 neutral

55

42

48

50

64

33

2 disagree

14

20

13

22

13

25

1 strongly disagree

10

13

15

7

8

12

5 strongly agree

4 agree

3 neutral

2 disagree

1 strongly disagree

FIG NO. 9.17 DIFFERENT PARAMETER OF STORES

Data: Consumers were asked to answered that in which operation they want improvement atBig Bazaar. The objective of this question is to understand the improvement area at BigBazaar. Analysis: From the table, and pie chart depicted above, the distribution of the consumers is evident.Of the 135 respondents who answered the questionnaire,45% customers needimprovement in Cashier speed 30% are not satisfied with the staff knowledge about the product 25% thought waiting process management is not good at Big Bazaar. Interpretation: By analysing the responses to this question, it canidentify the improvement areas in operations at Big Bazaar.Appropriate decisions can be made keeping these numbers in mind.We should increase the no. of cashiers atleast on Wednesday Bazaar, Weekends,Monthly Bachat Bazaar. Secondly, we can increase sources of entertainment to manage the waiting processmanagement,we can play good songs so that customers are not irritated duringwaiting. 39

TABLE NO.9.14 Mean 3.296296296 Std. Dev. 1.072548048 Std. Err 0.092310238 LCV 2.819071933 UCV 3.171697043 Significant/Not Significant

3.207407407 1.133586939 0.09756363 2.808775286 3.181468351 Significant

3.22962963 1.139132563 0.098040921 2.807839795 3.182356113 Significant

40

3.259259259 1.057757152 0.091037241 2.821567008 3.169329268 Significant

3.259259259 0.984680894 0.084747838 2.833894238 3.157630978 Significant

3.22962963 1.17143069 0.100820701 2.802391426 3.187526504 Significant

5FINDINGS       

Big Bazaar is undoubtedly number one retailer in India. It has built very emotional &cordial relationship with its customers Store layout should be developed in such a manner that respondents should get more free space to move around. More brands should be offered including increasing sections for men. Improvement should be done in their loyalty program. Transparency in cash back without any hidden schemes or terms & condition Respondents are attracted toward grocery and apparel for discounts. Customer are least interested in Furniture & Electronic Appliances section so more offer should be floated here and this section to be focused on.

6CONCLUSIONS 







Promotion is a major factor in any marketing mix that enables producer and immediate customer to choose any among any product developed to satisfy the needs of target market. Marketing Strategy in big bazaar to increase the footfall of the store during the weekday. Customers are more attracted towards discount schemes & sales. So promotional activity should do in a way by keeping discounts and scheme in mind. Because respondents are taking the great exchange offer and its term are misleading instead of providing coupons for redemption, they should give them pay back or discount on next purchases. As there were new concept were emerging like big basket considering to be a major competitor which is online so big bazaar can also provide home delivery services to its customer. Entertainment units & kids’ zone should be provided in retail stores in order to cater more customers. The after sales service of retail stores should be helpful & effective. This after sales service creates loyal customers base.

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7RECOMMENDATION 





 



The company shouldmaintain a good relationship as well as good publicity; also, company should be clear on defining its term and condition during promotions. Big bazaar should keep offers at time intervals so that there should not be effect on its regular or on going offers and especially for longer duration, because offer is the most influencing factor which is responsible forcustomer purchase decision. And they also concentrate on TV advertisement they should show ads and promotional offers in a regular interval especially during promotional offer time. Most of the respondent feel so there should have more billing counters during peak hours or offer period duration. Customers are very price conscious they are having many options in the market.Should follow more of high low pricing rather than everyday low pricing. Should go for a weekly coupon system as it holds more of the loyal customers.

42

8BIBLIOGRAPHY Reference Books Copulsky J.R., Wol M.J. (1990). Relationship Marketing position for future. Journal of Business strategies. Merlin S, Woodcock N, Wilson M (1996). Managing the change from marketing planning to customer relationship management. 29(5): 675-683. Zeithaml V.A, Berry L.C, Parasuraman A (1996). The behavioural consequences of service quality. Journal of Marketing, 60(2):31-46. Bejou, David, Ennew, C.T & Palmer. A (1998). Trust, Ethics & Relationship & Satisfaction, International Journal of Bank Marketing. Vol 16 No 4, PP-190175. Bloemer.J & Odekerten –Schroder, (2002). Retailer Satisfaction & store loyalty explained by customer & Retailer – Related factors, Journal of Consumer satisfaction, dissatisfaction & complaining behaviour, Vol 15, No 2, PP 70-91. Philip Kotler, ‘Marketing Management’, Revised Edition, Prentice Hall of India, New Delhi, 2006. Kotler, Phillip. Armstrong, PHI pub.: Delhi, ed. 9.(pp.218 -224,335-353,411413,559-561,)  Websites  http://www.bigbazaar.co.in  http://www.pantaloonretail.in/businesses/big-bazaar.html  http://www.pdfcoke.com/doc/41556853/Bigbazaar-4p-Mix  http://en.wikipedia.org/wiki/Marketing_management  http://www.pantaloonretail.in

43

QUESTIONNAIRE GENDER MALE  FEMALE 

AGE ___

MARITIAL STATUS MARRIED  UNMARRIED  Q.1 Which offer make you visit big bazaar during this period? a. Wednesday offer

b. the great exchange offer

c. shopping rewards

d. Gift card

Q.2 How frequently you visit big bazaar during this offer period? a. once in a week

b. twice in a week

c. once in a month

d. twice in a month

Q.3 The promotional offers at big bazaar are attractive and induce me to make a purchase? (Rate 1. Strongly disagree to 5. strongly agree) 1.

2.

3.

4.

5.

Q.4 For which range of products/brands you expect promotional offers (Please rank from scale 1 being high and 4 being low) a. Apparel

b. Electronics

c. Grocery

d. Furniture

Q.5 Employees in the store have proper knowledge about the offer terms and condition to answer customer queries? (Rate 1. Strongly disagree to 5. stronglyagree) 1.

2.

3.

4.

5.

Q.6 Offers and Discounts where same as it was conducted without any hidden Terms & conditions? (Rate 1. Strongly disagree to 5. strongly agree) 1.

2.

3.

4.

5.

Q.7 which is the convenient way to receive shopping rewards at big bazaar during offer period? a. Profit club

b. Future Pay

c. Payback

Q.8 Which section you focused on during this offer period? a. Appliances

b. Apparel & accessories

c. Electronics

d. Grocery

e. Furniture

44

Q.9 what is your overall satisfaction rate during this offer period at big bazaar? (Rate 1. Strongly disagree to 5. stronglyagree) 1.

2.

3.

4.

5.

Q.10 Which promotional service you like most from big bazaar? a. Discount offer

b. coupons

c. free gift card

e. exchange offer

d. Wednesday offer

f. monthly bachat bazaar

g. Weekend offer Q.11 Where do you get heavy discount on big bazaar? a. Through promo code b. Through Debit or Credit card c. Through Offer or gift card Q.12 What comes to your mind when you think about big bazaar? a. Discount

b. Product

c. Variety

d. Brand Quality

e. Offer

f. Other

Q.13 How did you find following qualities of staff? Good  Average  Bad 

a. Courteousness b. Grooming

Good  Average  Bad  Good  Average  Bad 

c. Efficiency and Knowledge

Q.14 How do you rate the following thing in store? (Rate 1. Strongly disagree to 5. stronglyagree) a. Cashier interaction

1.

2.

3.

4.

5.

b. cashier speed

1.

2.

3.

4.

5.

c. Checkout counter

1.

2.

3.

4.

5.

d. Customer service desk

1.

2.

3.

4.

5.

e. Loyalty program

1.

2.

3.

4.

5.

f. parking facility

1.

2.

3.

4.

5.

Q.15 Any suggestion from your side will be valuable for us. 45