Of the consumers approached, 75 people agreed to fill in the questionnaire and this specific question. This question is aimed at identifying the products consumers shop for frequently at retail outlets. The product categories laid before the respondent are the result of observation and interview. By analysing the responses to this question, we, the researchers, as well as companies, can identify the main attractions of products and services offered.
The high number of responses indicate that a large number of consumers visit retail outlets for clothes/dresses/apparel. Accoutrement is the hottest selling item that any retail outlet can provide. One-third of the respondents indicated that the visit retail outlets to purchase groceries.
To the retail stores, the above tabulated responses lead to a very important result. Clothing is the fastest moving consumer good. Retail outlets that provide apparel can see a higher rate of turnover and sales volume. However, the above results cannot be assumed to be representative of the entire population of Mumbai city. The sample size consists of only 75 respondents, who were approached on a random basis as they visited the retail outlets.
Consumers approached were asked to rank their preferences on a scale of 1 to 6 of their preferences when choosing to shop at particular stores. The preference points placed before them were ‘ Quality, ‘ Brand’, ‘ Price’, ‘ Store Layout’, ‘ Proximity’, ‘ One-stop shop’. These preference points were identified by observation and interview as the most popular reasons that beget the attraction of consumers and act as inducements to shop at particular stores.
Analysis
From the table, bar graph and pie chart depicted above, the preference points of consumers is evident.
Of the 75 respondents who answered the questionnaire, 23 give first importance to quality when choosing which store to shop at. This accounts for 30. 67% of the respondents, who gave rank #1 to ‘ Quality’. Of the 75 respondents who answered the questionnaire, only 5 gave first importance to proximity of the store when choosing where to shop at. This accounts for 6. 67% of the respondents, who gave rank #1 to ‘ Proximity’.
It is evident from the responses and the subsequent tabulation that consumers, on an average, rank the preference points in the following descending order of attraction: Quality, Price, and Onestop shop, Brand, Store Layout, and Proximity.
Interpretation
Of the consumers approached, 75 people agreed to fill in the questionnaire and this specific question. This question is aimed at understanding what elements attract the consumer the most. The preference points laid before the respondent have been the result of observation and interview. By analysing the responses to this question, we, the researchers, as well as companies, can identify the biggest factors that influence the consumers in favouring one store over others. The highest responses and the highest ranking have been attributed to quality of the products on sale. When choosing to shop at a particular store, or when favouring one store over the others, it is seen that most consumers make this decision based on the quality of the products on offer.
The next criteria that influence the consumers in favouring a particular store over others are (in descending order) – Price, One-stop shop, Brand, Store layout, and Proximity. Although it is said that the most important things in retail are “ Location, location, and location”, from the consumers’ point of view, proximity is of little concern. The quality, price and variety of goods play big roles in the decision making process.
Q. 6) Which form of advertisement do you think is most effective
Details
Total
Percentage
28
37. 33%
TV
40
53. 33%
Radio
7
9. 34%
Total
75
100%
Data Collected
Consumers approached were asked which form of advertisement they thought was most effective. This question was answered by 75 consumers. The methods of advertising were restricted to three – Television, Print and Radio. The options laid before the respondents were the result of observation and interview as being the most popular which the consumers identify as means of advertising.
Analysis
From the table, bar graph and pie chart depicted above, the effectiveness of the various modes of advertising on the psyche of consumers is evident. Of the 75 respondents who answered the questionnaire, 40 indicated that the television is the most effective means of advertising for a store. This accounts for 53. 33% of the respondents, who indicated the choice ‘ TV’.
Of the 75 respondents who answered the questionnaire, only 7 indicated that the radio is an effective means in advertising to the consumers. This accounts for 9. 34% of the respondents, who indicated the choice ‘ Radio’.
It is evident from the graph and chart presented above that, in the minds of the consumers, the effectiveness of the three kinds of media are classified as follows (in the descending order): Television, Print, and Radio.
Interpretation
Of the consumers approached, 75 people agreed to fill in the questionnaire and this specific question. This question is aimed at understanding the effectiveness of the three means of advertising. The object is also to analyze how far advertisements broadcast through these media percolate into the minds of the consumers. By analysing the responses to this question, we, the researchers, as well as companies, can identify the effectiveness of advertisements through the media identified. This helps to understand which media is more influential and attracts more sales.
From the tabulated data depicted above and responses of the consumers, it is evident that the majority of the respondents feel that television advertising is the most effective means of advertising. This is indicative in spite of large number of commercials that the public is bombarded with. The respondents give very little credit to radio advertisements. This is indicative of the fact that most of the public ignore radio advertisements or else that radio advertising does not translate into sales.
Thus, it can be surmised that when advertising, more effective media to reach the consumer and persuade them to buy are the television and print media, more so than radio advertising.
Q. 9) Indicate your satisfaction level based on the given parameters for the Big Bazaar:
Retail Outlet
Unsatisfied
Satisfied
Highly Satisfied
Not Visited
Big Bazaar
20
43
10
2
Data Collected
Consumers approached were asked about their satisfaction with the three stores covered in this study. This question was answered by 75 consumers.
The satisfaction scale comprised of four ranks – Unsatisfied, Satisfied, Highly Satisfied and Never Visited.
Analysis
From the table, bar graph and pie chart depicted above, satisfaction levels with the above 75 respondents who answered the questionnaire, 43 indicated a satisfactory response towards Big Bazaar, and 2 had not visited the store.
Interpretation
Of the consumers approached, 75 people agreed to fill in the questionnaire and this specific question. This question is aimed at understanding the satisfaction levels of the consumers under study – Big Bazaar. The object is also to analyze how far the marketing strategies, brand image, advertisements, layout, quality etc., contribute towards consumer perception and satisfaction.
By analysing the responses to this question, we, the researchers, as well as companies, can identify the effectiveness of advertisements, location, brand, price, promotion, product variety etc., on the target consumers. This helps to understand the current consumer perception about Big Bazzar and the corresponding satisfaction levels.
From the tabulated data depicted above and responses of the consumers, it is evident that a good number of target consumers are satisfied with the stores at large. However, there are those who are unsatisfied or who have never visited the store at all.
Such consumers form the potential market that the companies must strive to attract. There are also quite a few respondents who were highly satisfied with the retail chains. It is imperative for the stores to find out why this is so. They can modify and apply the same attractions towards the consumers who are less satisfied.
The above table and graph give a worm’s eye-view of the consumer perception about Big Bazzar. This can help the marketers understand how effective their strategies have been.
Analysis
From the pie chart depicted above, satisfaction levels with Big Bazaar are evident. Of the 75 consumers who answered this question, 57. 33% indicate that they are satisfied with Big Bazaar.
Of the 75 respondents, who indicated their satisfaction levels with Big Bazaar, 26. 67% indicated that they are unsatisfied with Big Bazaar. Of the total number of respondents, 13. 33% indicated that they were highly satisfied with Big Bazaar. And 2. 67% indicated that they had not visited the store up to the date of filling in this questionnaire.
Interpretation :
Of the consumers approached, 75 agreed to fill in the questionnaire and answer the above question. The aim of this question is to understand the level of satisfaction that consumers feel with regards to the retail chain Big Bazaar.
As is evident from the pie chart presented above, a little more than half of the respondents indicated that they are satisfied with Big Bazaar, while almost one-eighth indicated that they are highly satisfied with the store. However, almost one-fourth of the number of respondents indicated that they were unsatisfied with Big Bazaar.
This goes to show that although Big Bazaar may have an overall goodwill from the consumers, there are still some things that they are not doing right. Big Bazaar must identify exactly what the problem areas are and must address them quickly and swiftly.
The above pie chart shows that almost 30% of the respondents fall into the category of potential customers. Big Bazaar must take effective steps to attract these consumers.
FINDINGS AND CONCLUSION
In the surveys, interviews and study conducted above, I came across many factors that influence the consumers’ perception of a store and their subsequent shopping and buying decisions. Here, I present the findings gathered and the suggestions we offer to companies based on the data gathered and analyzed.
The highest number of respondents falls in the age group 18-28. It can be deduced that most of the consumers who visit retail outlets regularly are the youth. The rest of the population who visit the retail outlets under study can be listed in the following descending order of distribution – the working age group, the older age group, the middle age group, and senior citizens.
It is not surprising that the youth most frequent malls and retail stores. What is unexpected, however, is the fact that more people who fall into the older age group visit the retail stores than those who fall in the middle age group.
The highest number of respondents were female, as is depicted by the graph and chart presented above. The number of male respondents was less compared to the female respondents.
Two deductions can be made from the above data collected: one, more women visit retail outlets than men. Two, more women are willing to fill out questionnaires and take a survey than men. This can help the companies and researchers in undertaking future decisions and studies. Since more women can be inferred to visit retail stores than men, companies can target their offerings and marketing strategies in two areas. Retail outlets can appeal to the women customers by offering more products geared especially towards women. They can provide a shopping experience that women are particularly attracted to.
Another way that retail chains can use the above data is to appeal to the men rather than the women. Since, fewer men visit retail 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 experience that attracts men, the retail chains can expand their customer base.
Consumers approached were asked about their frequency in visits to shops. The frequency points furnished were: Once a week, Fortnightly, and Once a month. By analysing the responses to this question, we, the researchers, as well as companies, can identify the number of times a customer is likely to shop in a month’s time. The highest responses have been attributed to once a month shopping. It can be deduced that consumers who shop only once a month look to buy groceries and other essentials to last them a month. Therefore, retail outlets have tough customers in those who shop once a month. Such customers look to buy in bulk. Moreover, such customers may not be open to experimenting with new stores. Hence, to capture this market, retail outlets must put in place strategies that attract them. Once they profess a liking to a certain store, they turn out to be very loyal customers.
Consumers who shop once a week, on the other hand, pose very different challenges to retail stores. Such customers can be presumed to have a high disposable income and may buy more lifestyle or fashion products. Since they shop so frequently, they must continually be entertained and attracted to make repeat purchases at stores. When targeting this segment, companies must be able to get new stock every week, and update their marketing strategies continuously. Consumers approached were asked which stores they shopped at frequently. The retail store brands placed before them were Big Bazaar, Shoppers’ Stop, Marks & Spencer, and others. By analysing the responses to this question, I as, a researcher, as well as companies, can identify customer preferences among the varied choices of stores, and can calculate how much market share they hold.
The highest number of responses has been attributed to Big Bazaar. Big Bazaar attracts people of many income groups, and offers products that appeal to a wide array of consumers. The other stores can be ranked in descending order of preference or frequency of visits as: Shoppers’ Stop, Others, and Marks & Spencer.
It can be deduced from the above figures that the category ‘ Others’ was indicated by more number of respondents than those who indicated they frequent Marks & Spencer. This may be because Marks & Spencer targets only the elite classes in a city where a higher percentage of the population belong to the middle income group.
In analyzing the other stores the consumers frequent, outlets such as Westside, Monday to Sunday, More, Central etc., featured. This indicates that more people frequent stores that cater to the middle income group. This is not to say that Marks & Spencer has no customer base. However, they may be unable to generate a high volume of repeat sales.
This goes to show that although Big Bazaar may have an overall goodwill from the consumers, there are still some things that they are not doing right. Big Bazaar must identify exactly what the problem areas are and must address them quickly and swiftly.