SUMMER INTERNSHIP PROJECT REPORT

ON
“CONSUMER PERCEPTION ON GLOBAL AND LOCAL BRANDS IN
INDIAN RETAIL INDUSTRY”

Submitted in partial fulfilment of the requirements for the Post Graduate Diploma
in Management
2019-21
Under the Guidance of

Industry Mentor Faculty Mentor:

Ms. Rohini Sharma Mr. Tophan Patra
Sales Manager Assistant Professor
The Capital Box IMS Ghaziabad

Submitted By:
Rohan Chandna
{BM -019138}

INSTITUTE OF MANAGEMENT STUDIES GHAZIABAD

 CERTIFICATE OF ORIGINALITY

I, Rohan Chandna hereby declare that this Summer Internship Project is my own work and that,
to the best of my knowledge and belief, it reproduces no material previously published or written
that has been accepted for the award of any other degree of diploma, except where due
acknowledgement has been made in the text.

Rohan Chandna

Date

______________
 CERTIFICATE

This is to certify that Mr. Rohan Chandna PGDM (2019-21 Batch) a student of I.M.S.
Ghaziabad, has undertaken the project on Report on “Consumer perception towards
International and local brands in Indian retail industry”. To the best of my knowledge, the
survey, data collection, & analysis work for preparing the project has been carried out by the
student in partial fulfilment of the requirements for the award of PGDM, under my guidance and
supervision.
I am satisfied with the work of Mr. Rohan Chandna

Date:

Mr. Tophan Patra

(Signature)
 ACKNOWLEDGEMENT

I would like to take this opportunity to express my gratitude towards Prof. Alok Pandey, Director,
IMS Ghaziabad, for giving me this opportunity to undergo my Summer Internship with The Capital
Box I would also express my gratefulness to Dr. Tapan Kumar Nayak, Dean Academics PGDM,
IMS Ghaziabad, for sharing his thoughts with me regarding the betterment of the project.

I would like to thank my Industry Guide Ms. Rohini Sharma, Corporate Sales Manager, The
Capital Box for his thoughtfulness and generosity that empowered & encouraged me to do my
best.

I would also like to express a deep sense of gratitude towards my Faculty mentor Mr. Tophan
Patra, Assistant Prof., IMS Ghaziabad, for his constant support and encouragement during the
different phases of the project.
 EXECUTIVE SUMMARY

The reason for this exploration is to examine, in a developing business sector, Buyer perspectives
towards local and international brand buys against a foundation of factors like Culture, Country of
Origin, Product quality and administrations. A model expands information on customer conduct
by joining the above mentioned referenced elements.

It was discovered that the nature of global brands was seen to be for the most part higher and better
than local brands. Most shoppers additionally related more prominent availability of remote brands
in the Indian market with better quality at lower costs. Indian purchasers were not partial against
remote brand names. Truth be told, they assessed them higher on innovation, quality, status and
regard than Indian brands and credited higher believability to those country of origin.

This investigation adds to the collection of information about purchaser conduct and their
impression of global versus local brands, in a massive and quick Developing market.

As organizations become worldwide, supervisors must have a careful comprehension of the

attitudinal and conduct qualities of rising purchaser markets, since what is thought about buyers in
one part of the world is not appropriate to buyers in different parts

1
.
 Table of Content

S.NO TOPIC Page No.

1 Executive Synopsis 1

2 Table of Content 2

3 Introduction 3-4

4 Business Profile 5-12

5 Literature Review 13-16

6 Need Scope And Objective Of Study 17

7 Research Methodology 17-18

8 Data Analysis And Interpretation 18-19

9 Findings 20-21

10 Conclusion and Recommendation 22

11 Limitation Of study 23

12 Key Learnings 24

13 Reference 25

2
CHAPTER ONE:
INTRODUCTION
 Chapter One

Introduction

1.1. Introduction
This study aims in understanding consumer perception of International brands versus Local brands
in the Indian retail industry. The Indian retail industry is embraced for the examination for the
straightforward explanation of being the solid development of the retail area in India. Organized
retailing is at its earliest stages in India and presents gigantic development opportunity. Remaining
on the limit of a retail unrest and seeing a quick changing retail scene, India is good to go to witness
the Global Village. India presents an excellent opportunity to the world at large, to utilize it as a
business center point.

India is regularly called as the country of the 'dukandars' (businesspeople) - around 12 million
retailers-comprising of more retail shops than those in the rest of the world set up. The retail
exchange is exceptionally divided in nature and it is frequently commented that retail in India is
nascent and mostly unorganized. The local bania or kirana store, the paanwala and the vegetable
merchant who are a lot of a piece of the Indian retail scene are named together by numerous
individuals as the unorganized sector. While the facts confirm that they don't utilize innovation,
they are very much aware of the requirements and needs of their clients, know about their
preferences and they know the amount to be stock. Most of them know their clients by name and
offer extra administrations like free home delivery and credit facilities. This is the traditional form
of retail in India.

Anyway the matter of retail in India has seen noteworthy changes over the most recent couple of
years. We have seen the development of new organizations and the use of worldwide ideas and
builds though with alterations to suit the Indian condition. The development of store groups like
Pantaloons, Shopper Stop, Big Bazaar and Westside have changed the retail situation in our nation
in this way making retail from 'unorganized' to 'organized'. Numerous global retailers have
additionally entered the Indian market on the quality of rising affluence levels of the youthful
Indian population alongside the uplifted attention to worldwide brands, global shopping
encounters and the expanded accessibility of retail land space. Improvement of India as a sourcing
center point will additionally make India an appealing retail open door for the worldwide retailers.
Retailers, for example, Wal-Mart, Tesco, JC Penney, H&M, Karstadt-Quelle, Burns (Kmart), and
so on are venturing up their sourcing requirement from India and moving from third-party buying
workplaces to building up their own completely claimed/entirely managing sourcing and buying
workplaces and this can just increase the appeal for the worldwide players

3
Globalization has a ton to do with buyers. Purchasers in India are presently getting progressively
educated, refined and requesting. India is perhaps the most youthful nation on the planet, and the
mentalities of the Indian purchasers are changing at a quick pace.
Globalization an ever increasing number of Indians are getting mindful of westernized items and
they feel that possession of international brands before their social gatherings (loved ones) gives
them a feeling of status and notoriety. It is in this manner suggested that items and assets appear
to have a greater amount of representative properties instead of useful traits. This examination
subsequently centers around the reasons with regards to why purchasers in developing markets
especially India incline toward outside brands over nearby brands and it additionally demonstrates
that utilization is done for reasons, for example symbolic consumption, materialism and depiction
of high status and image. Anyway this examination is limited to simply to the upper middle classes.

Components like Culture, Country of Origin, Materialism, Product and Service Quality apply a
strong effect on brand picture. These elements have been investigated and their effect on buyer
observations which at last leads them to the acquisition of worldwide brands has been clarified.
There appears to exist a gap in the Indian markets for youthful moderately ease retailer brands like
H&M, Primark and Zara. This gap is obvious because of the global style extravagance marks that
have been venturing into India in the course of recent years when compared with the high street
brands. With brands like Gucci, Versace, Valentino, Chanel just as the Indian designer wear
brands, for example, Ritu Kumar, Rough S, and so on the far edge there are the unorganized local
stores, selling their items in little family run retail outlets, subsequently leaving not many style
brands working in the middle end of the market. There are very few alternatives left for youngsters
who need speedy style at reasonable costs. Without strong brands in the women' wear section, for
ladies who are searching for adapted pieces of clothing, be it casual or formal at reasonable costs,
the current situation is unequal with either the value component or the style component. Thus there
is a requirement for brands for which can adjust both the cost and the style component

4
CHAPTER TWO: BUSINESS
PROFILE
 Chapter Two
COMPANY PROFILE
Since July 14 2016, the day the capital box was established, honesty has been there fundamental
belief. The Capital Box structure individual answers for ensure their customers' one of a kind ways
of life and offer enduring significant serenity. They endeavor to fabricate enduring associations
with customers through tender loving care and promise to predominant assistance. They give
unrivaled counseling services, money related products and risk management strategies to people,
families and organizations, having some expertise in specialty markets and portfolios with
complex needs.

They immovably accept that everything begins with having clear vision of your novel objectives.
With this clearness, they join target counsel and experience-drove execution to rejuvenate the
aggregate vision. They offer each customer genuine significant serenity. They characterize genuine
feelings of serenity as a profoundly established certainty that originates from feeling in charge and
realizing your budgetary arrangement is based on an establishment of self-information and
mindfulness. It is at this basic point – the crossing point of proactive arranging and genuine feelings
of serenity – that they accept that their customers have the most elevated potential to understand
their objectives.

The vision as a firm spotlights on helping other people accomplish money related objectives, just
as comprehension of every customer's interesting reason, crucial qualities. They endeavor to
enable customers by offering training, instruments and assets planned for encouraging clear
correspondence and carrying definition to their desire and goals. Every customer has various
thoughts regarding what makes life extraordinary. They remove the weight from dealing with the
money related subtleties so customers can make the most of life's excursion and experience their
special reason. They endeavor to be a power of quiet, a guide even with uneasiness and
vulnerability that very frequently go with monetary achievement. The Capital Box helps in
addressing different issues such as:

* Investing principles and strategies

* Retirement investing and distribution strategies

* Estate conservation issues

* Risk management analysis

5
ABOUT THE SPONSORS OF THE CAPITAL BOX

 Future Generali India Life Insurance Company Limited

Future Generali India Life Insurance Company Limited is a joint venture
between three leading groups: Future Group – A leading retailer in India,
Generali Group- A global insurance group that features among top 50*
smartest companies in the world and Industrial Investment Trust Limited
(IITL).
At Future Generali India Life Insurance Company Limited, our mission is to actively
protect and enhance peoples’ lives. With operations spread across 117 branches and a
complete range of simplified solutions for the financial security of customers and
enterprises, we aim to become the first choice by delivering relevant and accessible
insurance solutions.

 Max Life Insurance

Max Life Insurance Company Limited is a life insurance company in
India. The company is a subsidiary of the publicly listed Max Financial
Services Limited and is the largest non-bank private-sector life insurer in
India

 Aditya Birla Capital

Aditya Birla Capital Limited (ABCL) is the holding company for the financial
services.
ABCL’s subsidiaries have a strong presence across Protecting, Investing and Financing
solutions, ABCL is a universal financial solutions group catering to diverse needs of its
customers across their life stages. Powered by more than 21,000 employees, the
subsidiaries of ABCL have a nationwide reach with 850+ branches and more than 2, 00,000
agents / channel partners and several bank partners.

6
COMPANY’S VISION, MISSION AND VALUES

 VISION
To be trusted and respected by our families, clients, and professionals as the model financial
advisory firm that helps others as they transition through life’s financial cycles.

 MISSION
To help individuals, families, and small businesses embrace the responsibilities of living their
goals and dreams by designing, implementing, and monitoring financial strategies consistent
with their core values.

 VALUES

Live life on Purpose

People are more important than things

Act with Integrity

7
MARKETING MIX OF THE CAPITAL BOX
The marketing mix is the combination of marketing activities that an organization engages in so
as to best meet the needs of its targeted market. The Insurance business deals in selling services
and weight age in the formulation of marketing mix for the Insurance business is needed. The
Insurance Marketing focuses on the formulation of an idea mix for Insurance business so that the
Insurance organization survives and thrives in the right prospective.

The marketing mix include sub-mix of 4P’s can be used for marketing of Insurance products, in
the following manner:

1) Product

2) Price

3) Place

4) Promotion

Purpose
The purpose of the company is to provide means for people to live a life and lifestyle of their
choice by helping them plan for their future with life insurance. The company has a wide variety
of plans to cater to all the needs of the customers such as:
 Term Plans
 Child Plans
 Unit Linked Investment Plans
 Savings Plans
 Retirement Plans

8
In the tenure of my internship, I gained in depth knowledge about
 Saving Advantage Plan
 Monthly Income Advantage plan

Product 1: Saving Advantage Plan

A plan that helps you grow your systematic savings to build a corpus to address all your life stage
need while providing coverage against risk to take care of your loved ones in case of an exigency
Flexibility
You have the flexibility to choose the Premium Paying Term and Policy Term as per your need,
enabling you to decide the period for which you wish to save and the time for which you need
money to fulfill your particular life stage needs.

Guaranteed Additions
This plan provides you guaranteed 5.5% of Sum Assured on Maturity as Guaranteed Additions at
the end of each policy year, for first 5 policy years. to boost up your benefits.

Death Benefit that increases post 10 policy years

In case of death of Life Insured before or on completion of 10 policy years, a sum of Guaranteed
Death Benefit, Accrued Guaranteed Additions (if any), Accrued Paid Up Additions (if any) and
Terminal Bonus (if any) is payable.

In case of death of Life Insured after 10 policy years, 110% of Guaranteed Death Benefit along
with Accrued Guaranteed Additions , Accrued Paid Up Additions (if any) and Terminal Bonus (if
any) is payable.

Maturity Benefit
Enjoy 110% of Guaranteed Sum Assured along with Accrued Guaranteed Additions, Accrued Paid
Up Additions (if any) and Terminal Bonus (if any).

Settlement and Commutation Benefit

You or your nominee, have the flexibility to convert the Lump Sum Maturity Benefit / Death
Benefit into regular income (Monthly / Yearly) for 10 years.

Tax Benefit
You may be entitled to certain applicable tax benefits under section 80(C) and 10(10-D) of Income
Tax Act 1961 on the premiums paid and benefits received.

9
Product 2: Monthly Income Advantage Plan
Max Life Monthly Income Advantage Plan is one of the most sought-after financial plan as it
provides guaranteed monthly income for 10 years which will help the policyholder meet the
upcoming financial requirements even during unfortunate situations. This comprehensive savings
and protection Life Insurance plan helps you in meeting your recurring expenses after completion
of premium payment term. It also offers lump-sum benefits and non-guaranteed bonuses.
The features and benefits of the are as follows:

Guaranteed regular monthly income:

After completion of the premium payment term, Max Life Monthly Income Advantage Plan
provides you with guaranteed regular monthly income which can be used for your future expenses
or to have a peaceful retirement.

Financial coverage for your loved ones:

Max Life Monthly Income Advantage Plan also offers a lump-sum benefit to the nominees upon
the death of the policyholder.

Maturity benefit:
Upon maturity of the policy, Max Life Monthly Income Advantage Plan pays the total accrued
compound bonuses and terminal bonuses to make sure you are financially stable.

Death benefit:
Upon the death of the insured person, death benefit shall be paid if 11 times of the annualized
premium is paid and 105% of all premiums is paid till the date of death of the insured.

Policy continuance benefit:

In any unfortunate situation, Max Life Monthly Income Advantage Plan waives all the future
premiums payable by the policyholder. Apart from the lump-sum benefit the policy gives a waiver
on all the upcoming premiums which will make the policyholder or the nominees eligible for
maturity and income benefits.

Tax benefit:
Most of the schemes offered by Max Life Insurance Company comes with tax benefits and Max
Life Monthly Income Advantage Plan is no exception. As per the taxation law in India, the
policyholder can avail tax benefits on the policy.

10
PRICE
In a developing country like India where the disposable income in the hands of prospects is low,
the pricing decisions also governs the transformation of potential policy holders into actual policy
holders. The strategies may be high or low pricing keeping in view the level or standard of
customers or the policy holders. The pricing in insurance is in the form of premium rates.
In the insurance business the pricing decisions are concerned with:

 The premium charged against the policies.

 Interest charged for the default payment of premium and credit facility, and Commissions
charged for underwriting and consultancy activities.

PLACE
This component of marketing mix is related to two important factor:-
 Managing the insurance personnel
 Locating a branch.

Selection of an appropriate location in order to set up the branch office plays a very important role
in customer attraction, routine operations of the business and also for the convenience of the
customers. The management of agents and insurance personnel is found significant with the
viewpoint of maintaining the norms for offering the services. This is also to process the services
to the end user in such a way that a gap between the services- promised and services offered is
bridged over. The transformation of potential policyholders to the actual policyholders is a difficult
task that depends upon the professional excellence of the personnel

PROMOTION
The Insurance services depend on effective promotional measures. In a country like India the rate
of illiteracy is very high and the rural economy as dominance national economy. It is essential to
have both Personal and impersonal promotion strategies. Due attention should be given in selecting
the promotional tools for agents and rural Carrier agents, branch manager and frontline staff. They
should be given proper training in order to create impulse buying through the transformation of
rural prospects into actual policyholders by arranging various exhibitions and publicity drives in
rural areas. Advertising and Public relations done by the organization is a form of impersonal
communication to create awareness among people.

Promotional strategies used by the company is as follows:

 Commercial ads
 Print ads
 Conducting events

11
DEPARTMENT PROFILE
I was deployed as an insurance agent under the sales department of The Capital Box, Gurgaon
where I was given the target to make sales by selling the policies of the company.
The key roles & responsibilities given to me are as follows-

a) Identifying the needs of the prospective customers and pitching them about the products of
the company as per their needs.
b) Convincing & persuading the customers to buy a product by telling them about the benefits
& features of the product through sales presentation.
c) Preparing Daily Sales Report (DSR) on MS Excel and calling the customers.
d) Reporting my industry mentor based on the feedback given by the customers

12
 CHAPTER THREE:
LITERATURE REVIEW
 Chapter Three
Literature Review
Considering the main objective of this research to comprehend buyer impression of International
and local brands this section will look at and present an itemized survey on the reasons with regards
to why customers in developing in developing markets incline toward outside brands over local
brands. A few examinations show that inclination for imported, marked items over residential ones
appears to win among purchasers in developing nations buyers in developing economies seem to
see that items from creating nations are of lesser quality and will bring about more significant
levels of disappointment.

A conceptual model has been created which clarifies the essential considers that lead customers
developing markets to buy worldwide over neighborhood brands. This model will be applied and
tried in our investigation to finish up and investigate the principle purposes behind shopper
acquisition of global over local brands and what are the further ramifications that supervisors need
to remember while moving into developing markets.

3.1. (A) Consumer perceptions of global and local brands.

A local brand can be characterized as a brand that exists in one nation or in a restricted
topographical region. A researcher bring up that local brands have a place with a local,
international, or a global firm, they likewise give a connection between national economy and
individual prosperity. A few researcher characterize global brands as "a brand that is showcased
under a similar name in various nations with comparative and halfway found composed advertising
techniques"

A researcher led an exploratory examination across European nations to perceive how customers
see local brands. The examination uncovered that local brands profit by strong brand value and
furthermore advantage from higher customer awareness than global brands do and they enjoy a
strong brand picture. They profit by a decent quality picture as well as from a better value and trust
perception than international brands do. Worth is connected with the way that costs of local brands
are typically lower than those of global brands, giving shoppers as feeling of better value for
money.

Local brands are seen as more "sensible" than a global brand, which implies that local brands offer
a progressively essential/straightforward brand suggestion. Local brands are additionally
connected more to local traditions and local cultures than global brands are. It was additionally
discovered that trust is a significant bit of leeway for local brands since it furnishes a novel
relationship with customers that take a very long time to create. Local brands are not more
adaptable than worldwide brands as far as their promoting exercises when they compete in a
13
foreign product category because of social classifications being related with the foreign category.
Similarly as global brands need to adjust to universal showcasing announcements, local brands
marks here and there need to adjust to profoundly hold previously established inclinations about
product category in which they work.

A great part of the accepted bit of leeway of global brands fixates on the status and glory related
with global reach. An investigation of in excess of 10,000 customers led by a specialist uncovered
that despite the fact that residential brands are probably going to be more natural than global
brands, where commonality is equivalent, the worldwide brands will have higher regard. The
researcher stated that worldwide marking will seemingly confront various difficulties by product
category. Certain category, for example, vehicles and PCs are considered progressively worldwide
regarding the closeness in customer inclinations. Apart from examining the shopper impression of
local and global brands it is likewise advantageous investigating the reasons of inclinations for
global over local brands.

3.1. (B) Reasons for preferences for global over local brands

Customers become keen to global brands when buyers accept the brand is promoted in numerous
nations and is perceived as global in these nations This observation happens in two structures;
buyers understand that a similar brand is found in different nations through media presentation,
verbal correspondence, or during movement abroad. Besides as concentrated by an analyst that a
brand may declare or infer its 'comprehensiveness' through showcasing correspondences that
utilization brand names, endorsers, promoting subjects, and so forth.. Shoppers incline toward
brands that they see as beginning from a non-local nation, particularly from Western nations, more
than they do neighborhood brands and that inclination is connected not exclusively to apparent
quality yet additionally to economic wellbeing.

Customers in developing nations for the most part try to copy western consumption practices and
ways of life and buy remote brands. It is declared that impressive similarities exist in the
requirements of shoppers around the globe and this combination in purchaser needs is to a great
extent ascribed to expanded cross border population mobility and electronic portability encouraged
by broadcast communications innovation.

Customers may favor remote brands on account of relationship of higher glory. The impact of
apparent notoriety on buy expectation is more grounded when item class is progressively obvious
and its possession or utilization is all the more freely noticeable. The world size of global brands
permits individuals to connect themselves with all around perceived occasions (World Soccer Cup,
Equation one, Olympics, and so forth) and famous people (Brad Pitt, Beckham and so forth).
Through a procedure of significance move, the glory joined to these occasions and superstars might
be moved to the supporting global brand.

14
Global Brands are seen as luxury products for a normal Indian. The market for luxury merchandise
has as of late encountered a significant development. From the above it can be concluded buyers
in developing nations will in general assess worldwide brands as far as better item and
administration quality, they additionally will in general relate global brands as images of societal
position. The COO of origin has likewise been found as a noteworthy factor affecting worldwide
brand inclinations regarding status and quality.

The factor influencing global brands are:

 Antecedents of Global Brand Purchases

 The impact of Product Quality in Consumer Satisfaction Responses, Country of Origin and
Brand Image
 Service Quality Impact on Customer Satisfaction, Country of Origin and
 Brand Image
 Impact of Culture and Acculturation on Brand Image
 Social Identity and Materialism
 Consumer Segmentation

15
The figure below depicts a conceptual model for understanding Consumer
Purchase Behavior

16
CHAPTER FOUR: RESEARCH
METHODOLOGY
 Chapter Four

Need, Scope and Objectives of the Study

The main objective of this examination is to comprehend customer impression of global and local
brand in the Indian retail industry , the secondary objectives are mentioned as
Follows:
 To analyze the factors that effect consumer preference for global brands.
Factors like Product and Service Quality, Country of Origin, Culture,
Materialism affect consumer perceptions of global and local brands.

 To determine the main reasons as to why people consume brands as symbolic

Identities.

 To identify the key discrepancies that exist between managerial and consumer expectations
of delivering brand satisfaction which have led to the gap for foreign low cost retailer
brands.

RESEARCH METHODOLOGY
Optional information can be gathered from inner and outside sources. Inner information assortment
source is gathered from organization archives like business chart or client information base while
outer data is gathered from outside sources like government reports, books and periodicals and so
on.

This exploration included information assortment from optional outside sources. Different
scholastic diaries like Journal of Consumer behavior, Harvard Business Survey, Journal of
Marketing Management and so forth were utilized to assemble data on the pertinent themes.
Different scholarly course books and industry reports have additionally been utilized that were
helpful in investigating the current writing on marking and in understanding consumer purchase
behavior.

 Data Collection
1) Sources: Secondary Data
2) Tools: Journal of Consumer behavior, Harvard Business Review, Journal of Marketing
Management’

17
CHAPTER FIVE: DATA
ANALYSIS
 Chapter Five

Analysis and Discussion

The study of different secondary data collected from various source produced various themes
related to consumer preferences of global brands. These themes can be classified as following:
 Consumer perceptions of Global and Local Brands
 Cues of Product and Service Quality that affect purchases
 Consumer Segmentation
 Impact of Culture on Consumption
 Materialism and Social Identity.

1. Consumer Perceptions of Global and Local Brands

The rise of a worldwide commercial center has fuelled the development and familiarity with design
brands across India. As India opened up its economy to the remainder of the world a ton of remote
brands like Benetton, Tommy Hilfiger and so on entered India subsequently affecting the psyches
of the customers in dynamic. Because of the tremendous presentation of these worldwide brands
there have been significant changes in view of Indians most definitely. It was seen that buyers will
in general assess worldwide brands regarding better quality and saw comprehensiveness
Purchasers showed that worldwide brands caused them to feel a piece of the worldwide customer
culture and gave them acknowledgment. It was additionally uncovered that shoppers favored
paying for brands which were perceived as they gave them a feeling of 'worldwide character.
Prior Indians use to associate to marked products as luxury things yet today due to the huge
introduction and more and more number of Indians voyaging abroad there has been a huge
change in the manner Indians see marked merchandise.

2. Cues of Product and Service Qualities that Affect Consumer Purchases.

From the information it very well may be presume that consumer loyalty is upgraded by item and
service characteristics which are found to be higher in worldwide brands. Shoppers despite
everything incline toward brands that hail from nations that are considered to have specific
mastery: Switzerland chocolates, Italy in garments, France in beautifying agents, Germany in
vehicles, Japan in gadgets, for instance. Service quality isn't affected by and large while buying of
brands. The administration quality impacts customer choices of Local brand purchase gets
dismissed.

18
8
3. Consumer Segmentation
From the information it was seen that Upper middle class popularly called as the 'socialites' turning
out to be increasingly more brand conscious. They consider purchase of worldwide brands as status
symbol of interest which give them self-identity. Furthermore they could be called as 'Achievers'-
who valued achievement and materialism and they are more enthused about luxury that they have
established as an uncommon center point and the upper working class can likewise be called as
'Strivers'- materialistic and drenched in a forceful quest for accomplishment.
4. Impact of Culture on Consumption Patterns
Culture among the Indians depicts status, appreciation, endorsement and dissatisfaction.
India speaks to a collectivist society where individuals are viewed as not completely distinct they
are associated with others by a several connections. They come to speak to the associated selves
wherein personality lies in familial and social connections and they will in general move in their
groups of friends. Class and Status likewise should be kept up in the groups of friends wherein one
moves.
It was seen from the information that because of movement and presentation more Indians have
begun getting mindful of worldwide brands yet they would yet buy marks that are perceived in
their social gatherings. Because of voyaging and introduction a ton of Indians are presented to the
host culture and have started to assimilate and receive its standards and conduct.
Henceforth it very well may be inferred that culture and assimilation prompts westernization of
utilization designs which influences brand picture.
5. Materialism and Social Identity
In India the collectivist culture is at its pinnacle. It was seen from the information that Indians will
in general recognize themselves not based on close to home character yet social personality.
Individuals would in general buy assets that were socially perceived as it gave them a feeling of
status and acknowledgment.

It could likewise be seen that expansion in westernization because of social effect was driving
shoppers to build up a more realist mentality undoubtedly.

Indians are entirely powerless against impacts, for example, group norms. The reliant self of the
Indians will in general spotlight more on the group and open appearances. In this manner assets
like vehicle, gems, great planner brands hold a ton of significance for them. Hence it tends to be
reasoned that collectivist social orders can likewise be seen as materialistic social orders. At the
end of the day India can be seen as a materialistic culture.

19
CHAPTER SIX: FINDINGS
 Chapter Six

Findings
From the above investigation different discoveries have been closed.
1. Increase In Westernization
It very well may be seen from the above examination that consumption designs have changed
generally. It has been underestimated that westernization in India is on an ascent. With the passage
of remote brands in India and more Indians voyaging abroad there has been a colossal presentation
to these brands and western culture. Indians venturing out abroad will in general dress and mimic
the western styles especially the way where they dress along these lines prompting western
consumption behavior.
It would thus be able to be presumed that expansion in westernization which has brought about the
change and needs of the purchasers has prompted a change of the Indian economy from a
communist to a consumption drove economy. The current age is in this manner increasingly
pleased with being an Indian, and progressively present day with regards to their ways of life, than
their antecedents. It is an age that believes that everything is inside their each and tries for it. What's
more, this is valid for everybody, regardless of whether they live in enormous metros or modest
communities. I call this change in perspective the 3-C hypothesis: Confidence and Change
acquiring a phenomenal period of Consumption. The expansion in westernization is liable for the
materialistic demeanor among the Indians which have driven them to devour brands as images of
status and esteem.
2. Symbolic Consumption of Products
Because of westernization of consumption pattern more Indians especially who have a place with
the upper middle classes are building up a materialistic mentality and devouring an ever increasing
number of brands for representative purposes. Consumption in India is influenced by an
emblematic character which essentially implies that brands are making a social identity for the
buyers in this manner influencing their purchase behavior.

India represent a collectivist society wherein a great deal of accentuation is given to the external
self, essentially the manner by which an individual conveys him/herself in broad daylight. A ton
of significance is given to society, standards and qualities. From the information it was seen that
individuals needed to keep up a specific status among the reference groups that they move in and
this provoked them to buy worldwide brands so as to keep up a specific status.

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 3. Growth of the Indian Retail Sector

The continuous pattern towards advancement of the Indian economy during the previous decade
has filled in as a central point in its dynamic move towards a worldwide economy and the passage
of outside brands from Europe and US into this market. The materialist among the Indians to have
items that furnish them with a feeling of self-personality and status and furthermore because of
changes in utilization pattern has expanded the notoriety of these brands in this manner bringing
about higher acquisition of worldwide brands when contrasted with local brands. In spite of the
fact that this demeanor is predominant just in urban communities of India, times are not far where
such a disposition will win among all the classes of individuals.

Global brands tend to concentrate on the upper middle classes and they frequently neglect to
address the requirements and requests of the lower classes in India. Late occasions have seen a
variety of Local retail outlets like Pantaloons, Big Bazaar, and Shoppers Stop and so forth that
have reworked the retail leads in India.

The Indian retailers concur upon the forthcoming patterns of outside brands in India and they being
satisfactory by the privileged societies, however supportability of these worldwide brands is a
significant measure that should be investigated. Their food was ensured since they concentrated
available as some time which caused them to acquire higher benefits than global retail locations in
India. They center on the high societies as well as address the issues and needs of the lower classes

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 CHAPTER SEVEN:
CONCLUSION AND
RECOMMENDATION
 Chapter Seven

CONCLUSION & RECOMMENDATIONS

 Emergent Strategies necessary

The extraordinary qualities of a particular market/industry like India "emergent strategies" would
be increasingly proper for worldwide firms. Developing methodologies increment an association's
adaptability and flexibility to natural changes and vacillations in shopper's interest
 Flexibility and Adaptability
Every single store in India should be modified subsequent to considering the different culture,
tastes and inclinations of each city or area that multinationals need to set up their stores in. Indians
having a place with any class consistently like to contact, smell and feel the wheat grains before
they get them and such an Indian psychology helped in the advancement of Food Bazaar where
staples are sold free. They have become a standard element of the greater part of the stores in India.
Consequently if multinationals like Tesco or Marks and Spencer's who need to wander into food
hypermarkets as they offer enormous retail openings in India ought to adjust to the psychology
and inclinations in a nation's item advertises, But anyway organizations ought to hold their center
business recommendations even as they adjust their plans of action. One of the promoting mantras
is 'being local on a global scale', it is basic to restrict a few highlights of the showcasing approach.
Multinationals ought to receive a nation focused methodology which expects them to be very
adaptable and construct or get a blend of national and universal brands like Nestle and Uniliver
have generally done.
 Build Brand equity and avoid direct competition
Operationalizing brand value by and large falls into two gatherings: those including purchaser
recognitions, for example, mindfulness, brand affiliation or saw quality and those including buyer
conduct, for example, brand faithfulness. As far as the family unit and food brands, nearby Indian
Brands like Amul, Parle and Sunfeast have displayed higher brand inclinations and value not just
as far as mindfulness, brand affiliation or saw quality yet additionally brand faithfulness. This is
exclusively because of the way that these brands have comprehended the Indian clients well and
they convey an incentive for cash items. The Foreign multinationals entering India attempt to
contend with local brands for example Heinz took a stab at rivaling Kissan yet was not effective,
they rather should attempt to construct a solid brand value and lay more accentuation on the
necessities of the Indian buyers
 Strong Presence in all the Segments for Profitability and Sustainability
Knowing the market, and distinguishing and obliging the need of the purchasers are fundamental

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CHAPTER EIGHT: LIMITATION
OF STUDY
 Chapter Eight

Limitations of the Study

 Gathering adequate information during the collection of secondary data was an issue, due
to limited information on consumer perceptions of global and local brands

 Face to Face Interview with the people was not conducted due to covid-19

 The study is based on the facts and figures that where done by the different researcher
earlier.

 The interview was not conducted with the retailer due to covid-19 as it would have help us
in knowing the perception of retailer perception towards the global brand and the local
brand.

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CHAPTER NINE: LEARNING
OUTCOMES
 Chapter Nine

KEY LEARNINGS

1. During the summer internship period I learnt about the working of Insurance sector, the
various norms and regulations imposed by the Insurance Regulatory Authority of India
(IRDAI) on the Insurance companies.

2. I learned about the various plans of the company such as Money back plans, Term plans,
Child plans and Unit linked Plans and gained in depth knowledge about various products
such as Monthly Income Advantage Plan, Saving Advantage Plan.

3. The initial 15 days of the training was based on theoretical knowledge related to the
Insurance sector and the next tenure of internship was based on practical exposure of
sales by giving sales pitch in front of the prospective customers.

4. I learnt the art of communicating with the prospective customers and delivering them
sales pitch keeping in mind their needs. This sales exposure, enhanced my presentation
skills.

5. The challenging part of my internship was the work pressure of making sales by
convincing the customers to buy the products of the company. But working under
pressure taught me perseverance.

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CHAPTER TEN: REFERENCE
 Chapter Ten

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