Project Report On Customer Behaviour In Pantaloons.docx

INTERNSHIP REPORT

NAME : LEO MOINAK ROY ST. XAVIER’S COLLEGE

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CONTENTS

1. Acknowledgement 2. Introduction 3. Pantaloons 4. About the company 5. Brands 6. Merchandise Mix 7. Objectives of Study 8. Observational Learning 9. What I Have Learnt

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ACKNOWLEDGEMENT First off, I would like to thank Mrs. Shaoni Sen for giving this opportunity to gather experience in sales & marketing at Pantaloons Retail Private Limited (Aditya Birla Group) to complete my six week internship in their esteemed organization. My sincere thanks to Mr. Sougata for granting me to undertake my Internship training. I am also thankful to him for giving me his valuable time and trusting me. I am highly obliged to all other staff for guiding me a long way to complete my internship within the time frame.

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INTRODUCTION Pantaloons is a fashion retail store, previously controlled by the Future Group, and later taken over by Aditya Birla Group. It operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market .With effect January 1, the company separated its discount store business, which includes the Big Bazaar hypermarket and the Food Bazaar supermarket businesses, into Future Value Retail Ltd., its wholly-owned subsidiary, so that the company may be listed independently. The company’s brands include Pantaloons, a chain of fashion outlets, Big Bazaar, a hypermarket chain and Food Bazaar, a supermarket chain. Some of the company’s other regional brands include, Depot, Shoe Factory, Brand Factory, Blue Sky, Top 10 and Star and Sitara. A subsidiary company, Home Solutions Retail (India) Limited, operates Home Town, a large-format home solutions store, Collection I, selling home furniture products and E-Zone focused on catering to the consumer electronics segment. The first Pantaloon was opened in Gariahat in 1997. Over the years, it has undergone several transitions. When it was first launched, this store mostly sold external brands. Gradually, it started retailing a mix of external brands while at the same time introduced its own private brands. Initially positioned as a family store, it finally veered towards becoming a fashion store with an emphasis youth and clear focus on ‘fresh fashion’. Today, the fashion store extends to almost all the major cities across the country. Pantaloons have established it’s presence with stores not just in the metros, but also in smaller towns. Pantaloons stores have a wide variety of categories like casual wear, ethnic wear, formalwear, party wear and sportswear for Men, Women and Kids. It includes different varieties Bare Denim, Umm, John Miller, Honey, Spyker, Ajile, Rig Utility, Lee Cooper, Annabelle, Honey, Trishaa, Urban Yoga. Fresh Fashion an idea that has captured the imagination of young India.

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PANTALOONS Pantaloons Retail (India) Limited, is India’s Landing retailer that operates multiple retail formats in both the value and lifestyle segment ofthe India consumer market. Headquarters in Mumbai. The company operates over 12 million square feet of retail space and has over 1000 store across 73 cities in India, employs over 30,000 people. The first Pantaloons store was launched in Gariahat, Kolkata in 1997.The brand operates nationwide in Indian over 75 cities and offers more than 200 licensed and international brands. With a focus on the youth of today, Pantaloons offers trendy and hip fashion that defines the hopes and aspirations of this demography.

ABOUT THE COMPANY A US $43 billion corporation, the Aditya Birla Group is in the League of Fortune 500. Anchored by an extraordinary force of over 120,000 employees, belonging to 42 nationalities. Over 50 percent of its revenues flow from its overseas operations spanning 35 countries. The Aditya Birla Group was named the AON best employer in India for 2018 over the last 7 years. The Group was earlier ranked fourth in the world and first in Asia Pacific in the; Top Companies for Leaders study 2011, conducted by Aon Hewitt, Fortune Magazine and RBL (a strategic HR and leadership advisory firm). The Group has also topped the Nielsen Corporate Image Monitor 2014 the third consecutive year. Spotlighting today’s buoyant youth, Pantaloons, India’s premium lifestyle apparel company offers chic and trendy fashion to meet their ever ideology of always keeping alive the ‘newness factor’ through fashion apparel and accessories that are visually appealing and fashionably upbeat.

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The first Pantaloons store was launched amidst much fanfare in Gariahat, Kolkata in 1997.Over the years, the brand has undergone several compelling trends and styles catering to the evolving fashion hub. Since its inception, Pantaloons progressed from retailing just a mix of brands to its very own popular private labels as well, designed by the in-house Design Studio. With a sharp focus on bringing the latest in fashion, the Design Studio combines its prowess in design and aesthetics to present styles that keep the consumer fashionably dressed each season. Initially positioned as a store catering to the fashion needs of the entire family, Pantaloons has transitioned to a fashion and lifestyle brand with an emphasis on youth and a focus on designs that are inherently in sync with current fashion trends. This compelling combination has helped Pantaloons retain its place on the style radar of every consumer’s wardrobe. Pantaloons stores have an abundance of choices across categories that range from western to Indian wear, formal to party wear and active wear for men, women and kids. To further add to the customer’s innumerable choices that reflect style, attitude, and comfort. Pantaloons has extended its horizons to fashion accessories like fragrances, footwear, handbags, watches, sunglasses and much more. With a chain of 70 fashion stores across 35 cities and towns, Pantaloons is constantly extending its foot-prints into the rest of modern India. Pantaloons which was previously controlled by the Future Group has now been taken over by Aditya Birla Nuvo Limited [‘ABNL’]. ABNL is a part of the prestigious Aditya Birla Group, a $40 billion Indian multinational, operating in 36 countries across the globe with over 133,000 employees. The Aditya Birla Group ranks high in the League of Fortune 500 Corporations of the world with a strong mix of talented and capable personnel comprising of 42 different nationalities, who are credited with anchoring the organization and scripting one brilliant success 6

story after another. Backed by the giant conglomerates, ABNL and Future Group, both the entities will work in tandem to derive operational synergies for back-end, supply chain and other crucial value drivers of the business. With all these advancements, Pantaloons is one of the fastest growing apparel companies.

BRANDS Pantaloons today retails over 200 licensed and international brands, including 24 exclusive brands. The Pantaloons exclusive brand bouquet includes Ajile, Akkriti, Alto Moda ( Plus size clothing ), Annabelle, Bare Denim, Byford, Urban Ranger, Candies’ New York, Chalk, Chirpie Pie, Honey, Izabel London, Poppers, Rangmanch, Richard Parker SF Jeans, Trishaa; besides, it also features brands licensed on a long-term basis: Bare, Rig, SF Jeans, Byford, JM Sports, Lombard and Candie’s New York. It also hosts brands such as Louis Philippe, Van Heusen, Allen Solly, United Colors of Benetton, Peter England. It retails partner brands such as John Miller, Celio, Spykar, Levis and Lee Cooper in menswear; Jealous 21, 109*F, AND, KRAUS in women’s western wear; BIBA, Global Desi in women’s ethnic wear; Barbie and Ginny & Jony. Louis Philippe led the aspiration for fashion excellence, giving its customers access to the finest in global fashion. Van Heusen focused on empowering the fashion ambitious professional partnering his career ambitions with power dressing. Allen Solly was for those looking for a smart fashion alternative. It came out with the concept of Friday Dressing. Peter England with its promise of honest-togoodness prices emerged the favorite for a large mass of first jobbers. Brand extensions to new categories – including sportswear, footwear, bags and accessories – have been at the core of leadership in its segments. Brands have also established strong roots in women’s wear and are getting popular in kids wear as well. The company also houses a range of other fashion formats.

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Planet Fashion is a multi-brand, apparel-retailing format that houses in-house brands and some significant others. The company’s premium lifestyle store, The Collective, offers a unique blend of global fashion, international trends and luxury customer services to customers. It has entered into the luxury mono brand business in India and through a joint venture introduced the quintessential British men’s luxury brand Hackett London into India. The journey has been a journey of proactively partnering the ever-evolving Indian fashion consumer. ABFRL has acquired exclusive online and offline rights to market the global brand – ‘Forever 21’ and its existing store network, in the fastfashion segment in India. To expand its international portfolio, ABFRL entered into exclusive partnerships with two of UK’s most successful fashion brands, ‘Simon Carter’ and `Ted Baker’.

MERCHANDISE MIX: Pantaloons has a wide range of products in its store- Men Casuals, Formals, Sportswear, Undergarments , Ethnic Wear, Children cloths, Girls and Ladies casual and Formals, Jeans and sportswear, traditional wear, Toys, Footwear, Cosmetics, Perfumes, Deodorants, Sunglasses, Wrist Watches, and Jewelry. Some brands are stated above others are: COSMETICS : Maybelline, L’Oreal. DEODORANTS : Playboy, Denim, Ferrari etc. SUNGLASSES : Fast track, DG, and many others. WRIST WATCHES : fast track, Titan, Espirit, Timex etc

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OBJECTIVES OF STUDY: 1. Consumer attitude towards Pantaloons and why people prefer visiting it over other retail outlets. 2. How much the factors like the distance of the store from consumer’s house affect the decision of a customer choosing to visit Pantaloons. 3. Does the availability of goods and variety of goods attract customers towards Pantaloons. 4. Measure the extent to which customers find discount and other offers at Pantaloons more exciting and attractive than those provided by other retail outlets. 5. Check the brand loyalty of customers. 6. To measure the satisfaction level of overall shopping experience. 7. Learning from what I’ve experienced, observing the outlet environment 8. Brief study of learning processes conducted over the years

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OBSERVATIONAL LEARNING Observational learning describes the process of learning through watching others, retaining the information, and then later replicating the behaviors that were observed. There are a number of learning theories, such as classical conditioning and operant conditioning, that emphasize how direct experience, reinforcement, or punishment lead to learning. However, a great deal of learning happens indirectly. For example, think of how a child watches his parents wave at one another and then imitates these actions himself. A tremendous amount of learning happens through this process of watching and imitating others. In psychology, this is known as observational learning. Observational learning is sometimes also referred to as shaping, modeling, and vicarious reinforcement. While it can take place at any point in life, it tends to be the most common during childhood as children learn from the authority figures and peers in their lives. It also plays an important role in the socialization process, as children learn how to behave and respond to others by observing how their parents and other caregivers interact with each other and with other people. Advertisers recognize the importance of observational learning in selecting endorsers or model that they feature in advertisements whether celebrities or unknown people.

COGNITIVE LEARNING: Theory of cognitive learning holds that learning emerges out of a basic human characteristic of curiosity or problem solving, which enables individuals to gain some control over their internal environment and circumstances.Cognitive learning occurs when a person has a definite goal and must search for all relevant information to achieve the goal 10

In my own words, process of acquiring skills and knowledge; learning is the acquisition and development of memories and behaviour including skills, understanding values and wisdom. We should teach the customers through the advertisements: 1. where to buy 2. by whom and for whom the purchase is to be made 3. how to use, feel and perceive the product 4. how to maintain the product 5. how to dispose the product

Operant ( or instrumental conditioning) Stimulus

Response

Reward

Reinforcement

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REINFORCEMENT It refers to the rewards, the pleasure and the benefits that a consumer intends to get after buying a product or service. A positive or negative outcome that influences the likelihood that a specific behaviour will be repeated in the future is in response to a particular stimulus. Positive reinforcement tends to reward a particular behaviour and this strengthen the livelihood of a specific response during same or similar situation. Negative reinforcement on the other hand is the removal of unpleasant stimulus and it strengthens the livelihood of a given situation or similar circumstances

INSTRUMENTAL CONDITIONING Behavioural theory of learning based on trial and error process with habits forced as the result of positive experiences ( reinforcements) resulting from certain responses or behaviours. American psychologist B.F. Skinner constructed the model of instrumental learning theory according to Skinner most learning occurs in environments where individuals are rewarded for choosing appropriate behaviour. Operant Conditioning ( Contd. ) is the process in which the frequency of occurrence of a type of behaviour is modified by the consequences of the behaviours. If positively reinforced, the likelihood of the behaviour being repeated increases if punished, the behaviour being repeated decreases if nothing the behaviour continues for some time and gets extinct.

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LEARNING PROCESS Intentional: learning acquired as a result of a careful search for information Incedental: learning acquired by accident or without much effort

APPRENTICESHIP It can involve both observational learning and modelling. Apprentices gain their skills in part through working with masters in their profession and through observing and evaluating the work of their fellow apprentices. Examples include renaissance inventor/painter Leonardo da Vinci and Michelangelo, before succeeding in their profession they were apprentices.

LEARNING WITHOUT IMITATION Michael Tomasello described various ways of observational learning without the process of imitation in animals (Ethology): ExposureIndividuals learn about their environment with a close proximity to other individuals that have more experience. For example, a young dolphin learning the location of a plethora of fish by staying near its mother. Stimulus enhancement – Individuals become interested in an object from watching others interact with it. Increased interest in an object may result in object manipulation, which facilitates new objectrelated behaviors by trial-and-error learning. For example, a young killer whale might become interested in playing with a sea lion pup after watching other whales toss the sea lion pup around. After playing with the pup, the killer whale may develop foraging behaviors appropriate to such prey. In this case, the killer whale did not learn to prey on sea lions by observing other whales do so, but rather the killer whale became intrigued after observing other whales play with the pup. After the killer whale became interested, then its 13

interactions with the sea lion resulted in behaviors that provoked future foraging efforts. Goal emulation – Individuals are enticed by the end result of an observed behavior and attempt the same outcome but with a different method. For example, Haggerty (1909) devised an experiment in which a monkey climbed up the side of a cage, stuck its arm into a wooden chute, and pulled a rope in the chute to release food. Another monkey was provided an opportunity to obtain the food after watching a monkey go through this process on four separate occasions. The monkey performed a different method and finally succeeded after trial and error. PEER MODEL INFLUENCES Observational learning is very beneficial when there are positive, reinforcing peer models involved. Although individuals go through four different stages for observational learning: attention; retention ; production; and motivation, this does not simply mean that when an individual's attention is captured that it automatically sets the process in that exact order. One of the most important ongoing stages for observational learning, especially among children, is motivation and positive reinforcement Performance is enhanced when children are positively instructed on how they can improve a situation and where children actively participate alongside a more skilled person. Examples of this are scaffolding and guided participation. Scaffolding refers to an expert responding contingently to a novice so the novice gradually increases their understanding of a problem. Guided participation refers to an expert actively engaging in a situation with a novice so the novice participates with or observes the adult to understand how to resolve a problem.

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WHAT I HAVE LEARNT ( IN BRIEF ) At the very beginning of the internship I was asked to learn the brands which are sold at Pantaloons. It took me two days to properly memorize the brands and know what products are exactly available under the different brands. I learnt various things at the store while doing store duty i) product identification ii) seasonal products iii) communication with customers and fulfilling their needs The various brands have different people in charge. The in house brands are looked after by pantaloons staff whereas the other brands which are not owned/under pantaloons are looked after by people hired by the respective brands. The non pantaloons products which are sold through pantaloons are considered under the store target which is different for different days. The loyal customers of pantaloons are often seen under their favourite brand section. People were more attracted towards discounts even though the discounted price is almost the same as price of products which are not on discount. People looked mostly for sober clothes and not ripped or torn clothes which are out of fashion now. The availability of size was an issue at times. I learnt about the database and system which is mostly based on excel used to calculate the week on week sales as well as the year on year sales. Store sales comparison is done to regulate the product supply. I would like to conclude by saying the overall experience was good. I overcame my shy nature and learned to interact with the staff, seniors and other interns this helped me how to initiate a conversation and end it on a good note.

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