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AWARDED BY
BALAJI INSTITUTE OF MANAGEMENT AND
HUMAN RESOURCE DEVELOPMENT
(Academic Batch 2018-2020)
Submitted By:
young females from fashion stores in future retail, Delhi with respect to need recognition,
information search and pre-purchase evaluation stages” for ABFRL, is a
bonafide record of work done by me during the course of summer internship
project work of PGDM program and all contents and facts are prepared and
presented by me without any bias.
I also declare that it has not previously formed the basis for the award to me for
any degree/diploma associate ship, fellowship or other similar title, of any
Institute/Society.
NANDA REDDY,
DELHI.
ACKNOWLEDGEMENT
A successful project can never be prepared by the single effort or the person to whom
project is assigned, but it also demands the help and guardianship of some conversant
person who helps in the undersigned actively or passively in the completion of
successful project.
I convey my gratitude to all the staff of Big Bazaar for their kind co-operation
throughout my project.
I am indebted to valuable customers who took out their precious time to respond to
my questionnaire.
Finally, I would like to thank my friends and family members for giving me constant
support and encouragement.
NANDA REDDY,
DELHI.
TABLE OF CONTENTS
4 CHAPTER -4
DATA ANALYSIS AND INTERPRETATION
4.1 ANALTICAL APPROACH PROBLEM SOLVING 24
4.3 OBSERVATION 24
4.4 ANALYSIS 25
4.6 CHECK 37
5 CHAPTER-5
SUMMARY OF FINDINGS,SUGGESTIONS &
CONCLUSION
5.1 SUMMARY OF FINDINGS 39
5.1.1 SWOT ANALYSIS 40
5.2 SUGGESTION 41
5.3 CONCLUSION 42
5.4 BIBLIOGRAPHY 43
5.5 ANNEXURE 44
CHAPTER-1
INTRODUCTION
INTRODUCTION
The company's ability to fulfill the business, emotional, and psychological needs of its
customers;
Quality of service delivery expected by the customers.
An internal drive to satisfy an unsatisfied need of customer.
Providing good service in a pleasant manner and meeting the customer's expectations;
The measure of the degree to which a product or service meets the customer's
expectations;
Comparison of expectations versus actual experience.
Most companies say that they believe in great customer service, but few set up a system to ensure
that they provide it. To deliver excellent customer service takes both understanding what your
customers want and the way to see that they receive it.
It is widely accepted that it is almost five times more profitable to sell to an existing customer than
to find a new customer. More important, the difference between satisfied customers and very
satisfied customers can make a big difference in customer repeat business and the profits.
Measuring client satisfaction is very important and distinguishing between degrees of satisfaction
by using customer surveys is crucial.
Measuring Customer Satisfaction
There are several ways to gather input from customers. The simplest way to find out how
customers feel and what they want is to ask them. If you have only 20 customers, you can talk to
each one personally. The advantage of this approach is that you'll get a personal "feel" for each
customer.
The disadvantage is that you'll gather different information from each customer depending on
how the conversation goes.
Customer surveys with standardized survey question insure that you will collect the same
information from everyone. Remember that few of your customers will be interested in "filling
out a questionnaire". It's work for them without much reward. By launching a customer survey as
an attempt to find out "how we can serve you better" -- your customers will feel less put upon.
Here are a few of the possible dimensions that one could measure:
Quality of product
Pricing
Offers and discounts
Staff‟s behavior
Complaints or problems
Billing experience
Security‟s behavior
Store‟s ambience & cleanliness
Overall experience in store
Using satisfaction Surveys to achieve a Competitive advantage
These facts underscore the need to satisfy your current customers so they remain with your
organization. Ensuring their satisfaction is vital to your long-term business survival and
profitability. The technology available to both you and your competitors has made it easier to
duplicate each other‟s products or services.
Because of this, it is increasingly difficult to rely on features alone to differentiate yourself from
the competition. Excellent customer satisfaction is one of the few ways to achieve a sustainable
competitive advantage.
Satisfaction (and dissatisfaction) affects your organizations bottom line
The value of satisfaction is often underestimated. Loyal customers affect an organization‟s success,
which can be difficult to quantify. Loyal customers grow your business by increasing market share.
Over a lifetime, a loyal customer purchases more, purchases at a premium (they are less sensitive
to price), costs less to sell to, and refers your business to others.
INDUSTRY PROFILE
Future Value Retail Limited is a wholly owned subsidiary of Pantaloon Retail (India)
Limited. Kishore Biyani is the Managing Director of Pantaloon retail (India) Ltd and the Group
Chief Executive Officier of Future Group. Pantaloons family store, an organized retail sector was
opened in 1997. This was followed by the opening of Big bazaar, a uniquely Indian hypermarket
format that democratized shopping in India.
Big Bazaar was launched in September, 2001 with the opening of its first four stores in
Calcutta, Indore , Bangalore and Hyderabad. Currently, there are 214 stores across 90 cities and
towns in India covering around 16 million sq.ft. of retail space. In Tamil Nadu, Big Bazaar is
designed as an agglomeration of bazaars or Indian markets with clusters offering a wide range of
merchandise including fashion and apparels, food products, general merchandise, furniture,
electronics, books, fast food and leisure and entertainment sections.
Big Bazaar guaranteed that definitely best products offered at the best prices. Over 1,70,000
products under one roof that cater from apparel to general merchandise like Plastics, Home
Furnishings, Utensils, Crockery, Cutlery, Sports Goods, Car Accessories, Books and Music,
Computer Accessories and many, many more. Big Bazaar is the destination where products
available at prices lower than the MRP, setting a new level of standard in price, convenience and
quality, making Big Bazaar, India's favourite shopping destination.
INNOVATIONS:
Wednesday Bazaar -Big Bazaar introduced the Wednesday Bazaar concept and promoted
it as “Hafte Ka Sabse Sasta Din”. It was mainly to draw customers to the stores on
Wednesdays, when least number of customers is observed. According to the chain, the aim
of the concept is "to give homemakers the power to save the most and even the stores in
the city don a fresh look to make customers feel that it is their day".
Sabse Sasta Din- With a desire to achieve sales of Rs 26crores in a one single day, Big
Bazaar introduced the concept of "Sabse Sasta Din". The idea was to simply create a day
in a year that truly belonged to Big Bazaar. This was launched on January 26, 2006 and
the result was exceptional that police had to come in to control the mammoth crowd. The
concept was such a huge hit that the offer was increased from one day to three days in 2009
(24 to 26 Jan) and to five days in 2011 (22-26 Jan).
Maha Bachat- Maha Bachat was started off in 2006 as a single day campaign with
attractive promotional offers across all Big Bazaar stores. Over the years it has grown into
a 6 days biannual campaign. It has attractive offers in all its value formats such as Big
Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar - catering to the entire needs
of a consumer.
The Great Exchange Offer-On February 12, 2009 Big Bazaar launched "The Great
Exchange Offer", through with the customers can exchange their old goods in for Big
Bazaar coupons. Later, consumers can redeem these coupons for brand new goods across
the nation.
Customer satisfaction
However, although the customer-centered firm seeks to deliver high customer satisfaction
relative to competitors, it does not attempt to maximize customer satisfaction.
A company can always increase customer satisfaction by lowering its price or increasing its
services. But this may result in lower profits. Thus, the purpose of marketing is to generate
customer value profitability. This requires a very delicate balance: The marketer must continue
to generate more customer value and satisfaction but not “give away the house.”
“The gulf between satisfied customers and completely satisfied customers can swallow a
business.”
Customer
The question of defining who your customers are seems fairly easy particularly if you have
segmented your market properly and understand who you are trying to satisfy. However subtlety
that frequently goes undetected by many firms is that is that customer set can be divided into two
parts, the apparent customer and the user. The apparent customer is the person or group of people
who decide what product to buy and basically have control over the purse strings. The user is a
person or group who physically uses the product or is the direct recipient of a service.
Satisfaction
As in defining customer above, defining satisfaction also appears simple. However as with
customer there is a subtlety that needs addressing. Satisfaction by most definitions simply means
meeting the customer‟s requirement.
Customer satisfaction is a concept that more and more companies are putting at the heart of their
strategy, but for this to be successful they‟re needs to be clarity about, what customer satisfaction
means and what needs to happen to drive improvement. Without this, there is a risk that customer
satisfaction becomes little more than a good intention, with confused objectives failing to address
the real issues for customers, one helpful way to look at the problem is to rephrase the objectives:
set the sights on helping the customers meet their goals.
Customer satisfaction can be defined in many different ways. Finding the right way for a company
depends on understanding your customer and on having a clear vision of the role that customer
satisfaction is to play in the strategy. For example, a focus on customer satisfaction can work
alongside existing segmentations to support revenue generation from high value customers or it
can be a company-wide objective rooted in the brand values. For the former, it may be sufficient
to focus on improving customer service, but for the latter a broader definition of customer
satisfaction is necessary, closer akin to corporate reputation.
Whatever the strategy for customer satisfaction, it must at least include getting the basics right.
Failing to achieve this can destroy the reputation as well as losing valuable customers. Every
customer, regardless of their economic worth to the business, has the power to influence –
positively or negatively – a company‟s reputation. Once the objectives for the customer satisfaction
strategy are defined there are a number of steps we can take to make sure the focus on customer
satisfaction is effective.
With the increase in customer‟s demands and competition it has become a lot more important to
base the entire company on customer service. When doing this one must first realize that every
member of an organization plays an active role in customer service. This includes both external
customers and internal customers within a company.
Customer focused organizations focus both on customer satisfaction and profit. Achieving
customer satisfaction generates the profit. In these organizations top management has frequent
contacts with external customers. The top management uses consultative, participative, and
supportive management styles to get through to the customer. The staff focuses all of its attention
on satisfying the customer‟s needs. However, the management‟s job is to provide the staff with
support necessary to achieve these goals. The other department and staff in the organization that
do not have direct contact with the external customers deal exclusively with internal customer
satisfaction.
RESEARCH REVIEW
Instead of asking whether customers are satisfied, they encourage companies to determine how
customers hold them accountable
As a potential solution to the factor 10/20 vision system level improvements have to be made,
contrary redesigning individual products or processes (Weterings and Opschoor 1992; Vergragt
and Jansen 1993; von Weizsäcker, Lovins et al. 1997; Ryan 1998; Manzini 1999; Brezet, Bijma et
al. 2001; Ehrenfeld and Brezet 2001).
For more than a decade now, a range of studies that address environmentally sound consumer
behaviour, e.g. car use, waste sorting, minimization and recycling practices have been conducted.
However, few studies evaluated consumer acceptance of the PSS concept – a consumption based
on non-ownership of physical products, see, for example, studies on car sharing schemes (Schrader
1999; Meijkamp 2000), ski rental and washing services (Hirschl, Konrad et al. 2001).
(Anderson, Fornell and Mazvancheryl, 2004) Therefore a firm should concentrate on the
improvement of service quality and charge appropriate fair price in order to satisfy their customers
who would ultimately help the firm to retain its customers (Gustafsson, Johnson and Roos, 2005).
It is a common phenomenon that the services a brand offers and the price it charges actually
determine the level of satisfaction among its customers, than any other measure (Turel et al. 2006).
Customer‟s involvement is also important as when buyer consider the product important and
invests time to seek information then it ultimately enhances the satisfaction level (Russell- Bennett,
McColl Kennedy and Coote, 2007). This satisfaction may influence the concerned company by
repurchase, purchase of more products, positive word of mouth and willingness of customer to pay
more for the particular brand. Any business is likely to lose market share, customers and investors
if it fails to satisfy customers as effectively and efficiently as its competitors is doing (Anderson,
Fornell, and Mazvancheryl, 2004).
According to Kotler and Armstrong (2010) price is the amount of money charged for a product or
service, or the sum of the values that customers exchange for the benefits of having or using the
product or service while Stanton, Michael and Bruce (1994) defined price as the amount of money
or goods needed to acquire some combination of another manufacturing and its companying
services.
But the marketing literature showed researchers‟ inclination towards price fairness in relation
with customer satisfaction (Hermann et al., 2007; Kukar-Kinney, Xia and Monroe, 2007; Martin-
Consuegra, Molina and Esteban, 2007). Price fairness refers to consumers‟ assessments of whether
a seller‟s price is reasonable, acceptable or justifiable (Xia et al., 2004; Kukar-Kinney, Xia and
Monroe, 2007). Price fairness is a very important issue that leads toward satisfaction. Charging
fair price helps to develop customer satisfaction and loyalty.
Research has shown that customer‟s decision to accept particular price has a direct bearing at
satisfaction level and loyalty and indirectly (Martin- Consuegra, Molina and Esteban, 2007). In
another study of Herrmann et al., (2007), it was concluded that customer satisfaction is directly
influenced by price perceptions while indirectly through the perception of price fairness. The price
fairness itself and the way it is fixed and offered have a great impact on satisfaction.
CHAPTER-3
RESEARCH
METHODOLOGY
RESEARCH METHODOLOGY:
MEANING:
Research also starts with question or problem .its purpose is to find answer to question through
the applicants of scientific method it pursuit of the track with the help of the study and observation.
Descriptive research a type of conclusive research that has as its major objective
The description of something usually mart characteristics or function
3.7 HYPOTHESIS:
Null Hypothesis (Ho): Big Bazaar products and services satisfy its customer.
Alternate Hypothesis (H1): Big Bazaar product and services do not satisfy its customers.
CHAPTER – 4
5%
19% 23%
Excellent
Good
Neutral
Very poor
14%
Poor
39%
H0 = customer service is independent of gender
H1 = customer service is dependent of gender
9% 4% 11%
Excellent
Good
Neutral
36% 40% Very poor
Poor
H0 = prices are dependent on gender
H1 = prices are independent on gender
8% 4% 8% Excellent
21% Good
Neutral
Very poor
59% Poor
H0 = the quality and variety of the product are independent on gender
H1 = the quality and variety of the product are dependent on gender
INFERENCE: Therefore the quality and variety of the product are independent on gender
4. Rating of offers and discounts
5% 10%
14%
Excellent
Good
Neutral
Very poor
24% 47% Poor
H0 = the offers and discounts is independent on the gender
H1 = the offers and discounts is dependent on the gender
Staff’s behavior
18% 3% 7% Excellent
Good
Neutral
14% Very poor
58%
Poor
H0 = staff‟s behavior is independent upon the gender
H1 = staff‟s behavior is dependent upon the gender
6% 2%
9% 24%
Excellent
Good
Neutral
Very poor
Poor
59%
7. Rating of billing experience
Billing Experience
12% 4% 9% Excellent
Good
Neutral
40% Very poor
35%
Poor
8. Rating of security’s behavior
Security’s Behavior?
16% 4% Excellent
Good
17% 41%
Neutral
Very poor
22% Poor
9. Rating of overall experience in store
Inferred that 34% of the people says the customer service desk and the in store
announcements are excellent and 14% are satisfied
Inferred that 11% of the people say the prices are excellent and 36% are satisfied
Inferred that 59% of the people say the quality and variety of the product are excellent
and 21% are satisfied
Inferred that 47% of the people says that the offers and discounts are excellent and only
5% of the people says its poor
Inferred that 18% of the people says the overall experience in the store was Neutral and
21% people says its good
Factors of customer satisfaction are independent with the type of gender of the customers
STRENGTHS
WEAKNESS
OPPORTUNITY
TG demands segregation of crowd, as there are few places where they can go, Big
Bazaar has a opportunity to be a outing destination.
Huge potential for entertainment in the city e.g. F-123, Sports bar, E-Zone etc. can do
amazing business.
Mood of optimism is creeping in the mind of consumers regarding facilities.
THREATS
The overall sales satisfaction index from the study reveals that the company is performing
very well and customers buying are much satisfied with the service given to them.
Even though the complaints are minor, the showroom needs to resolve the customer after
purchase service issues in order to achieve customer satisfaction
5.3 CONCLUSION
A highlights of the study on customer satisfaction towards the Big Bazaar, Royapuram
product76% people like our product mostly the emr provide small scale industries,80%people
accepted our product but some people provide more better sales and services Inferred that 37.8%
of people strongly agree respondents , 37.4% company people agree,20.7% people respondents to
satisfy after sales and services Find out analyzing table mostly 62% the service provide small scale
Industries17% Company have a problem
5.4 BIBLOGRAPHY
BOOKS:
Balderjahn, I. (1988). "Personality Variables and Environmental Attitudes as
Predictors of Ecologically Responsible Consumption Patterns." Journal of
Business Research 17(1): 51-56.
WEBSITES:
www.futurebytes.com
www.pantaloon.com
www.retailindia.com
www.google.com
5.5 ANNEXURE
Questionnaire:
Name