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Sagar Das

Consumer preference in home product & other FMCG - A comparative study at Big Bazaar, Esplande One, Bhubaneswar, Odisha

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CONSUMER PREFERENCE IN HOME PRODUCT AND OTHER FMCG - A COMPARATIVE STUDY AT BIG BAZAAR, ESPLANDE ONE, BHUBANESWAR, ODISHA A PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENTOF THE REEQUIREMENTS FOR THE DEGREE OF Master of Business Administration BY SAGAR RANJAN DAS ROLL NO - 1806260051, 3rd SEMESTER Department of MBA ROURKELA INSTITUTE OF MANAGEMENT STUDIES ROURKELA-769015(INDIA) OCTOBER, 2019
CERTIFICATE FROM THE INSTITUTE
CERTIFICATE FROM THE ORGANIZATION
DECLARATION I Sagar Ranjan Das hereby declare that this project titled “Consumer Preference in home product and other FMCG – A Comparative Study” at BIGBAZAAR, ESPLANDE – 1, Bhubaneswar, is submitted to the Biju Pattnaik University of Technology as a partial requirement for the award of Degree of Master of Business Administration, of Rourkela Institute of Management Studies during the year 2018- 2020. It is the record of an original & independent study carried out by me, under the supervision of my internal guide, Dr Karuna Karan Patra, faculty member of Rourkela Institute of Management Studies. This project report has not been submitted earlier by me or by anybody else for the award of any other degree in any University in India or abroad. Sagar Ranjan Das 1806260051
ACKNOWLEDGEMENT I express my sincere gratitude and indebtedness to Dr. Subrat Prasad Pattnayak, HOD (MBA), RIMS for helping me find out this opportunity. I would like to thank my Industry Guide Miss. Ayeshakant Debadarshni (Store People Officer, BB-BBSR, Esplanade-1) for her valuable guidance. I would like to thank Dr. Karuna Karan Patra, Faculty Guide, RIMS for his initiative in this field of research, for his valuable guidance, sympathies and kind attitude always encourage me to carry out the present work firmly. My special thanks to Dr. Sreekumar, Director (R &D), RIMS for sharing his precious knowledge and experience in this field of research help me carryout my SIP Project. Finally, a warm thanks to my friend Mr. Animesh Mohanty, MBA 3rd Sem, RIMS who helped me throughout my SIP Project. Place: Rourkela
EXECUTIVE SUMMARY The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. Total consumption expenditure is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space. And we should take care of the industry as well as its growth. Behavioural factor, Socio-Cultural factor, Environmental factor and Economic Conditions plays a vital role for its growth and expansion of it. When we talk about the Behavioural factor of a market it indicates about the consumer behaviour or its preference and taste. It also indicates the buying behaviour of the consumer on different situations. People often prefer some aspects of a product, but not others. When comparing sofas, the colour, fabric and size of the sofas can each have an impact on consumer preference, as well as the number of extra cushions they have. Not all of these aspects carry the same weight. When comparing two restaurants, for example, you may prefer the food and the ambiance of one over the other, but having a rude waiter at one restaurant may cause you to prefer the other restaurant overall. While consumer preference is an indicator of consumer demand, it’s important to note that consumer choices are not always determined by preference alone. Choices are often limited by a consumer’s income or budget, compared to the cost of the item, which is why so few people drive luxury cars or fly first-class. Similarly, in Big Bazaar there is a perfect blend of product mix and brand mix which denotes that in a product category or section there a number of brands are there. Generally, in a section there is a pattern on brand mix that are some of International Brands, some of National Brands, Home Brands and finally Local Brands which directly targets every footfall in the retail store. But here it needs to know the consumer preference to enhance the quality of sale it provides as every DNA has its own preference and choice.
INDEX PAGE NO. 01 - 08 a. Introduction 01 b. Objective of the study 04 c. Statement of the problem 05 d. Scope of the study 07 e. limitation of the study 08 09 - 10 a. What is research? 09 b. Data collection 09 c. Sources of Data 09 d. Analysis Technique 10 e. Sampling 10 11-30 31 - 47 48 - 53 a. Major findings 48 b. Suggestions 52 F. Conclusions 54 - 54 a. Future Scope 54 G. Appendix 55 - 55 H. Questionnaire 56 - 62 J. Bibliography 63 - 63 A. Research Design PARTICULARS B. Research Methodology C. Profile of the organisation D. Findings And Analysis E. Interpretation
1 A. RESEARCH DESIGN a. INTRODUCTION RETAIL INDUSTRY Retail is the process of selling consumer goods or services to consumers through multiple channels of distribution to earn a profit. Retailers satisfy demand identified through a supply chain. The term “Retailer” is typically applied where a service provider files the small orders of a large number of individuals, who are end users, rather than large orders of a small numbers of wholesale, corporate or government clientele. Shopping generally refers to the act of buying products. Sometimes this is done to obtain final goods, including necessities such as food and clothing; sometime it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing: it does not always result in purchase. Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than “rude booths” to sophisticated shopping malls of the modern era. Retail comes from the old French word tailler, which means “to cut off, clip, pare, divide” in terms of tailoring (1365). It was first recorded as a noun with the meaning of a “sale in small quantities” in 1433 (from the Middle French Retail, “piece cut off, shred, scrap, paring”). As in the French, the word, retail, in both Dutch and German, also refers to the sale of small quantities of items. RETAIL INDUSTRY IN INDIA The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. Total consumption expenditure is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and
2 around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space. MARKET SIZE India's retail market is expected to increase by 60 per cent to reach US$ 1.1 trillion by 2020, on the back of factors like rising incomes and lifestyle changes by middle class and increased digital connectivity. Online retail sales are forecasted to grow at the rate of 31 per cent year-on-year to reach US$ 32.70 billion in 2018. India is expected to become the world’s fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users. Various agencies have high expectations about growth of Indian e-commerce markets. Luxury market of India is expected to grow to US$ 30 billion by the end of 2018 from US$ 23.8 billion 2017 supported by growing exposure of international brands amongst Indian youth and higher purchasing power of the upper class in tier 2 and 3 cities, according to Assocham. INVESTMENT SCENARIO The Indian retail trading has received Foreign Direct Investment (FDI) equity inflows totalling US$ 1.59 billion during April 2000–December 2018, according to the Department for Promotion of Industry and Internal Trade (DPIIT). With the rising need for consumer goods in different sectors including consumer electronics and home appliances, many companies have invested in the Indian retail space in the past few months. Beccos, a South Korean designer brand is set to enter the Indian market with an investment of about Rs 1.00 billion (US$ 14.25 million) and open 50 stores by June 2019. Walmart Investments Cooperative U.A has invested Rs 2.75 billion (US$ 37.68 million) in Wal-Mart India Pvt Ltd. GOVERNMENT INITIATIVES The Government of India has taken various initiatives to improve the retail industry in India. Some of them are listed below:
3 • The Government of India may change the Foreign Direct Investment (FDI) rules in food processing, in a bid to permit e-commerce companies and foreign retailers to sell Made in India consumer products. • Government of India has allowed 100 per cent Foreign Direct Investment (FDI) in online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India. ROAD AHEAD E-commerce is expanding steadily in the country. Customers have the ever-increasing choice of products at the lowest rates. E-commerce is probably creating the biggest revolution in the retail industry, and this trend would continue in the years to come. India's e-commerce industry is forecasted to reach US$ 53 billion by 2018. Retailers should leverage the digital retail channels (e-commerce), which would enable them to spend less money on real estate while reaching out to more customers in tier-2 and tier- 3 cities. It is projected that by 2021 traditional retail will hold a major share of 75 per cent, organised retail share will reach 18 per cent and e-commerce retail share will reach 7 per cent of the total retail market. HYPERMARKET A “Hypermarket” is a big-box store combining a supermarket and a department store. The result is an expensive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise. In theory, Hypermarkets allow customers to satisfy all their routine shopping needs in one trip. The term Hypermarket was coined in 1968 by French trade expert Jacques Pictet. Hypermarkets, like other big-box store, typically have business models focusing on high volume, low-margin sales. Typically covering an area of 5000 to 15000 square meters (54000 to 161000 square feet), they generally have more than 200000 different brands of merchandise available at any one time. Because of their large footprints, many hypermarkets choose suburban or out of town locations that are easily accessible by automobile.
4 A hypermarket is a retail store that is a combination of grocery supermarket and departmental store. For example: Wal-Mart Super centre, Reliance, Big Bazaar etc where consumer is provided with an enormous retail facility with full line of groceries and general merchandise. People were overwhelmed with the choices available at hyper market which made it a big hit all over the country. HYPERMARKET IN INDIA Hypermarket retail industry was considered more vivacious than ever because of the industrialisation, macroeconomic performance of the country and need of organised retail segment. Due to modernisation and technological growth there was growth in personal disposable income in the last 15 years which made it necessary to have giant retail story where everything is easily accessible. Best part that attracted lot of customers were less prices of hypermarket as they tried to sell product at less margin thus making consumers addicted. Big retail store had advantage of selling high volumes of merchandise, therefore they had greater purchasing power as compared to small retailers which in turn apply pressure on vendors, potentially securing discount on goods that their rivals cannot get from the vendors. This allow the hypermarkets company to sell merchandise at lower than its competitor. Hypermarket was giant, fully AC and completely organised which became the reason as a day out place for people. Similarly, to beef up the margins, hypermarkets in India continuously strived to bring down the share of branded products, substituting them with the store brands like MORE stores have their own brand breads and pulses in their stores. No category was left unexplored. b. OBJECTIVE OF THE STUDY The Comparative study of consumer preference is very much essential when it comes to the topic of manpower management, investment management, inventory and customer relationship management. 1. To identify the most preferred brand across category. Each and every marketer must know its product and customer very well so that it will help him to compete in the challenging market. The marketer must know the
5 USP (Unique Selling Point) or in lay man point of view we can say the most preferred brand or product across the category. And store like BIGBAZAAR who is the largest retail chain in India must know its USP so that it can invest more on that and attract more and more customer. 2. Comparison of Big Bazaar’s home product with respective competing brands. In stores like, BIGBAZAAR there are n’ number of products are there of multiple brands. Some of them are private or in-store brands and other are competitive brands. Now BIGBAZAAR always want that their product and brand should be much more productive but this is possible only when, BIGBAZAAR will know the consumer preference towards its own private brand as well as the other competitive brand. Which will help him to grab the customer and shift the customer from other competitive brands to private brand. 3. To update the Merchandise Percentage Manual (MPM). Merchandise Percentage Manual (MPM) is a rule book of BIGBAZAAR where all the structure of selling area, flow of selling category, brand distribution, brand ratio and brand sequences are given which to be followed by all BIGBAZAAR. This MPM give a uniformity to all the store so that the control technique used for one store will be useful to each store. 4. Finding a way for optimal utilization of BAY/RACK/SELF. In BIGBAZAAR the selling area is generally its RACK/SELF but in industry it is called as BAY and according to the current trend each BAY has its own Price and Value. As the more visible area is the costliest BAY. So the optimal use of this is very much essential. c. STATEMENT OF PROBLEM Consumer preference is defined as the subjective tastes of individual consumers, measured by their satisfaction with those items after they have purchased them. This satisfaction is often referred to as utility. Consumer value can be determined by how consumer utility compares between different items.
6 Consumer preferences can be measured by their satisfaction with a specific item, compared to the opportunity cost of that item since whenever you buy one item, you forfeit the opportunity to buy a competing item. The preferences of individual consumers are not contained within the field of economics. These preferences are dictated by personal taste, culture, education and many other factors such as social pressure from friends and neighbours. For example, someone who prefers to own a specific brand of a smartphone because his/her friends all have the same brand. People often prefer some aspects of a product, but not others. When comparing sofas, the colour, fabric and size of the sofas can each have an impact on consumer preference, as well as the number of extra cushions they have. Not all of these aspects carry the same weight. When comparing two restaurants, for example, you may prefer the food and the ambiance of one over the other, but having a rude waiter at one restaurant may cause you to prefer the other restaurant overall. While consumer preference is an indicator of consumer demand, it’s important to note that consumer choices are not always determined by preference alone. Choices are often limited by a consumer’s income or budget, compared to the cost of the item, which is why so few people drive luxury cars or fly first-class. Similarly, in BIG BAZAAR there is a perfect blend of product mix and brand mix which denotes that in a product category or section there a number of brands are there. Generally, in a section there is a pattern on brand mix that are some of International Brands, some of National Brands, Home Brands and finally Local Brands which directly targets every footfall in the retail store. But here it needs to know the consumer preference to enhance the quality of sale it provides, as every DNA has its own preference and choice. Knowing the consumer preference is the most challenging job for any marketer, as it is dynamic in nature. Stores like BIGBAZAAR who is facing a n’ number of customers on daily basis must need to know the brand preference which will help in better product mix, optimum utilization of BAY, update the MPM time to time to cope-up with the emerging trend.
7 d. SCOPE OF THE STUDY The inferences from the study are based on the responses given by the customers in a specific area. This study is helpful in getting insights on shopping habits and preferences of middle and higher socio-economic group of customers. Because consumer preference determines what products people will buy within their budget, understanding consumer preference will give you an indication of consumer demand. This information will help to ensure that you have enough product to meet demand. This also helps in decision making about product line alignment, product depth alignment, reducing the damage and expiry, better scope for new and trend products in the market. It will help in improving the home product and getting the more and more pie of the oval. Some of the important points are as follows: • Understanding Consumer Preference: BIGBAZAAR is the largest retail chain in India and it has a large customer base across the PAN India and each of them react differently to each products or brands differently. So, in order to create a healthy customer relationship, it need to know the brand preference of each and the most preferred brand among them to place the brand in respective location for better productivity. • Better Product Mix: Better product mix means the perfect mixture of relevant brand for a certain location according to their brand preference of consumer so that the productive and sale growth will be higher and the customer relationship will be maintained. • In-store Brand Awareness: When BIGBAZAAR know that consumer preference of all type of customer than it can identify the customer who are less aware of the in-store brand and take corrective steps for its brand promotion.
8 e. LIMITATION OF THE STUDY 1. Confined to only one retail store and a single geographical location. The study is confined to a single retail store of BIGBAZAAR i.e. Esplande – 1, Bhubaneswar, Odisha where, if the study will be in more than one store the result may differ and many other Interesting facts may come out. Similarly, the geographical location is also confined to BHUBANESWAR only and the data are collected within it. If the data are being collected from different geographical location than the output or preference may differ. 2. Lack of Brand awareness with respect to in-store brand. While interacting with the customer it is being observed that many of the customer are not aware of in-store band and that creates biasness of consumer towards a certain product. 3. Consumer might be biased while answering. A few of the findings may be deviating towards retail stores present in the mall at the time of survey as the survey was carried out in the premises of the mall. It may not fully reflect the habits and preferences of customers as the responses of the participants of the survey might be biased.
9 B. RESEARCH METHODOLOGY a. WHAT IS RESEARCH? “It is organised systematic data-based scientific inquiry, or investigation into a specific problem under taken with the purpose of finding answers or solutions to it.” b. DATA COLLECTION • Sales Data Analysis: In this stage the last quarter sales data of the store were being collected and with the help of pivot tabulation in MS-Excel category wise and SKU wise sales figure are being collected and from each eligible category 7 brands are selected for the Questionnaire design. • Close Ended Questionnaire with Ranking: Here an organised closed ended set of question are being prepared for the customer for getting their feedback. And the ranking method of questionnaire are being adopted. • Personal Interview to the walk-in-customer: I personally and with the help my pears in the store personally interviewed the walk-in-customers and got the relative feedback from them. c. SOURCES OF DATA Primary Sources: Data are collected directly from the customer with the help of an organised close ended questionnaires. The data given by the customer as feedback with a 7 scale of Comparative Ranking Technique. Secondary Sources: Data are also collected from secondary sources like Organisation website, Organisation Database and their expert advice.
10 d. ANALYSIS TECHNIQUE • Frequency Tabulation of Customer preference Ranks: Here in frequency tabulation the sum count of rank put but by the respondent are collected and after that by the help of reverse ranking method the sum product of each are calculated. Then based on their sum product total ranking has been given in ascending order using MS-Excel. • Frequency Tabulation of Factor Ranks: In factor tabulation demographic factors like Price, Brand Loyalty, Utility, Promotions, Offers, Packaging and salesman approach are collected and against that the rank provided by the respondent are sum counted, then converted into percentage and being tabulated using MS-Excel. e. SAMPLING • Sample Size • 56 x 14 = 784 no’s In this study questionnaire is divided in to 14 categories and from each category 56 samples are collected. As it is the least number among the all 14 categories. • Sampling Techniques: • Random Sampling: Samples are taken randomly to the walk-in customer and interviewed personally.
11 C. PROFILE OF THE ORGANISATION Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics. Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square feet of retail space in 71 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail. A first-generation entrepreneur, Kishore Biyani started his journey selling stone-wash denim fabric in Mumbai in the 1980s. His dream was of making available to everyone what only the rich could afford. Soon, he would launch his own brands, retail networks and invest heavily in creating the country’s leading consumption ecosystem. During this journey he also invested and mentored many other entrepreneurs and brands. He
12 embodies the organisation’s credo, ’Rewrite Rules, Retain Values’ and considers Indianness as the core value driving the organisation. Future group is an Indian conglomerate headquartered in Mumbai, Maharashtra, India. The company is known for having a significant prominence in Indian retail and fashion sectors, with popular supermarket chains like Big Bazaar and Food Bazaar, lifestyle stores like Brand Factory, Central etc. The group also has a notable presence in integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited, two operating companies of Future Group, are among the top retail companies listed in BSE with respect to assets, and in NSE with respect to market capitalization. On May 2012, Future Group announced a 50.1% stake sale of its fashion chain Pantaloons to Aditya Birla Group in order to reduce its debt of around ₹80 billion (US$1.2 billion). To do so, Pantaloons fashion segment was demerged from Pantaloons Retail India Ltd; the latter was then merged into another subsidiary—Future Value Retail Ltd—and rechristened Future Retail Ltd. Future Group is a corporate group and nearly all of its businesses are managed through its various operating companies based on the target sectors. For e.g., retail supermarket/hypermarket chains Big Bazaar, FBB, Food Bazaar, Food Hall, Hometown etc. are operated by its retail division, Future Retail Limited, while its fashion and clothing outlets Brand Factory, Central, and Planet Sports are operated via another of its subsidiaries, Future Lifestyle Fashions Limited. With these many fashion outlets and supermarkets, the group also promotes its fashion and sports brands like Indigo Nation, Spalding, Lombard, Bare etc., and FMCGs like Tasty Treat, Fresh & Pure, Clean Mate, Ektaa, Premium Harvest, Sach etc. It also has operating companies to cater specifically to internal financial matters and consulting within its group of companies. On November 21, 2014, Future Consumer Enterprises Limited. acquired the 98% from Actis Capital and other promoters. With that, Nilgiris is a fully owned subsidiary of Future Consumer Enterprises Limited (FCEL). In 2008, Big Bazaar opened its 100th store, marking the fastest ever organic expansion of a hypermarket. The first set of Big Bazaar stores opened in 2001 in Kolkata, Hyderabad and Bangalore. The group’s specialty retail formats include, books and
13 music chain, Depot, sportswear retailer, Planet Sports, electronics retailer, Ezone, home improvement chain, Home Town and rural retail chain, Aadhar, among others. It also operates popular shopping portal, futurebazaar.com. The group’s flagship company, Pantaloon Retail was awarded the International Retailer of the Year 2007, by the US-based National Retail Federation, the largest retail trade association and the Emerging Market Retailer of the Year 2007 at the World Retail Congress in Barcelona. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values. FUTURE GROUP'S OPERATING COMPANIES SORTED BY TARGETED MARKETS RETAIL ➢ FUTURE RETAIL LTD Future Retail operates some of India’s most popular retail chains that inspires trust through innovative offerings, quality products and affordable prices that help customers achieve a better quality of life every day. We serve millions of customers in more than 400 cities in every state of the country through digital platforms and over 2000 stores that cover over 16 million square feet of retail space. ➢ FUTURE LIFESTYLE FASHION LTD Future Lifestyle Fashions (FLF) is the flagship fashion business of Future Group. At FLF, we operate more than 300 stores in 90+ cities, occupying 5.7 Mn sq. ft of retail space. We own and market leading brands, through our in- house retail chains Central and Brand Factory, exclusive brand outlets (EBOs) and other multi-brand outlets (MBOs). From design to distribution, we are present in every segment of India’s fashion industry.
14 ➢ FUTURE CONSUMER LIMITED Future Consumer Limited (Formerly known as Future Consumer Enterprise Limited) (FCL), India’s first sourcing-to-supermarket food company by Future Group is built on the virtue of sharing. Starting from the seeding of food at the farm to its consumption from the plate, FCL acts as a catalyst for each of its stakeholders. From sourcing, processing, retailing to final act of consumption – FCL strikes a widespread chord between the lives of the farmer, a factory labourer, a worker on the shop floor and the housewife. Food means sharing in India. It starts at the farms where neighbours, kith and kin join hands in tilling, sowing and harvesting of crops. Women come together to further process and prepare food. Recipes are passed down as heirlooms, shared by friends and neighbours and now on television by celebrity chefs. Under FCL’s spectrum, the company sources best quality commodities from world over, comprises of extensive portfolio of established brands in food and HPC space, builds urban convenience store for key metros and cash-n-carry rural distribution models for other cities across India. ➢ FUTURE ENTERPRISES LIMITED Future Group, with its companies, has impacted lives across all sections, industries and regions. As India’s leading retailer, the Group has been bringing quality service, exciting offerings and a myriad range of products to its customers. Connecting diverse communities and cultures together has been the focus area of the Group. While Future Retail Limited caters to the front end with its multiple formats, forming the backbone and linking the retail arm with its infrastructure is Future Enterprises Limited (FEL). FEL develops, owns and leases the retail infrastructure for the Group. The company also holds the Group’s investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics. While Future Supply Chains manages the logistics- from warehousing, storage to distribution of raw materials and products, Future Generali- a JV with the globally known Generali Group, offers financial security solutions like savings, insurance and policies to its customers.
15 ➢ FOODHALL Future Group wanted to bring home the flavours from around the world to create a space that every food lover would enjoy. A place that allows you to not only buy unique, rare ingredients but also taste fresh food as you explore the store – indulging all five senses. This need for a buzzing and inspiring space was left unfulfilled. So, in 2011, Future Group launched Foodhall, a premium lifestyle food superstore. Currently Foodhall has six stores present in Mumbai, Bengaluru, New Delhi and Gurgaon. FINANCIAL SERVICES ➢ FUTURE GENERALI TOTAL INSURANCE SOLUTATION 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) A leading investment company. At Future Generali India Life Insurance Company Limited, our mission is to actively protect and enhance peoples’ lives. With operations spread across 104 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. OTHER SERVICES ➢ FUTURE INNOVERSITY Future Innoversity was established in 2009 as a specialized institute for students who want to make a career in sector specific management roles. Its flagship programme in retail, is well established and equips students with all facets of the retail industry. Future Innoversity has entered into a strategic arrangement with Indira Gandhi National Open University (IGNOU) to offer Retail MBA, BBA Retail Services and MBA SCM. All post graduate and under-graduate programmes offered by IGNOU are approved by the Association of Indian Universities (AIU) and the University Grants Commission (UGC).
16 ➢ FUTURE SUPPLY CHAINS It is one of India’s largest organised third-party supply chain and logistics service provider. It offers automated and IT-enabled warehousing, distribution and other logistics solutions to a wide range of customers. It’s service offerings, warehousing structure, pan-India distribution network, “hub-and-spoke” transportation model and automated technology systems support our competitive market position. Our customers operate in various sectors across India, including retail, fashion and apparel, automotive and engineering, food and beverage, fast-moving consumer goods (FMCG), e-commerce, healthcare, electronics and technology, home and furniture and ATMs. FUTURE GROUP MANIFESTO: “Future” – the word which signifies optimism, growth, achievement, strength, beauty, rewards and perfection. Future encourages us to explore areas yet unexplored, write rules yet unwritten; create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and re-learn our ability to evolve. We, in Future Group, will not wait for the Future to unfold itself but create future scenarios in the consumer space and facilitate consumption because consumption is development. Thereby, we will affect socio-economic development for our customers, employees, shareholders, associates and partners. Our customers will not just get what they need, but also get them where, how and when they need. We will not just post satisfactory results, we will write success stories. We will not just operate efficiently in the Indian economy; we will evolve it. We will not just spot trends; we will set trends by marrying our understanding of the Indian consumer to their needs of tomorrow It is this understanding that has helped us succeed. And it is this that will help us succeed in the Future. We shall keep relearning. And in this process, do just one thing. GROUP VISION Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner.
17 GROUP MISSION ➢ We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. ➢ We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments - for classes and for masses. ➢ We shall infuse Indian brands with confidence and renewed ambition. ➢ We shall be efficient, cost- conscious and committed to quality in whatever we do. ➢ We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful. There are some core Indian values which Kishore Biyani ji follows in all his business and his retail outlets which are as follows: ➢ Indianness: confidence in ourselves. ➢ Leadership: to be a leader, both in thought and business. ➢ Respect & Humility: to respect every individual and be humble in our conduct. ➢ Introspection: leading to purposeful thinking. ➢ Openness: to be open and receptive to new ideas, knowledge and information. ➢ Valuing and Nurturing Relationships: to build long term relationships. ➢ Simplicity & Positivity: Simplicity and positivity in our thought, business and action. ➢ Adaptability: to be flexible and adaptable, to meet challenges. ➢ Flow: to respect and understand the universal laws of nature.
18 COMMITTEE OF DIRECTORS Audit Committee Name of the Member Position Held Category Ms. Gagan Singh Chairperson Independent Director Mr. Ravindra Dhariwal Member Independent Director Ms. Sridevi Badiga Member Independent Director Mr. Rakesh Biyani Member Joint Managing Director Stakeholders Relationship Committee Name of the Member Position Held Category Mr. Shailendra Bhandari Chairman Independent Director Ms. Gagan Singh Member Independent Director Mr. Rahul Garg Member Non-Executive Director Nomination & Remuneration Committee Name of the Member Position Held Category Mr. Ravindra Dhariwal Chairman Independent Director Mr. Shailendra Bhandari Member Independent Director Mr. Rahul Garg Member Non Executive Director Corporate Social Responsibility Committee Name of the Member Position Held Category Mr. Kishore Biyani Chairman Managing Director Ms. Gagan Singh Member Independent Director Mr. Rahul Garg Member Non Executive Director
19 Big Bazaar is an Indian retail chain of hypermarkets, discount department stores, and grocery stores. The retail chain was founded by Kishore Biyani under his parent organisation Future Group, which is known for having a significant prominence in Indian retail and fashion sectors. Big Bazaar is also the parent chain of Food Bazaar, Fashion at Big Bazaar (abbreviated as fbb) and eZone where at locations it houses all under one roof, while it is sister chain of retail outlets like Brand Factory, Home Town, Central, eZone, etc. Founded in 2001, Big Bazaar is one of the oldest and largest hypermarkets chains of India, housing about 250+ stores in over 144 cities and towns across the country. Big Bazaar was founded in 2001 by Kishore, the founder and chief executive officer (CEO) of the parent company, the Future Group. Indian actress Asin and the former Captain of Indian cricket team, Mahendra Singh Dhoni have previously endorsed for the fashion vertical of Big Bazaar. The first store opened in Kolkata and was followed by stores in Hyderabad and Bangalore in a short span of 22 days. These stores contributed over Rs 43 crore to the company’s turnover. In the mean while Big Bazaar continued to expand in the larger cities like Agra, Allahabad, Coimbatore, Surat, Panipat, Kanpur and Kolhapur. “JO BAZAAR MEIN MILTA HAI WHO SAB YAHAAN MILTA HAI” is how Rakesh Biyani describes Big Bazaar the ‘bazaar’ is a term commonly used for the market. Whenever any of us need anything. The simplest way to get it is to go to the bazaar. Big Bazaar represents a location where a customer can shop for anything that he needs, for which he would normally visit a bazaar or the market. The head quarter of Big Bazaar is at Mumbai. 36000 employees are working in Big Bazaar. Big Bazaar was launched in September, 2001 with the opening of its first four stores in Kolkata, Indore, Bangalore and Hyderabad in 22 days. Within a span
20 of nineteen years, there are now 250+ Big Bazaar stores in 144 cities and towns across India. Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of Pantaloon Retail Ltd. Though Big Bazaar was launched purely as a fashion format including apparel, cosmetics, accessory and general merchandise, over the years Big Bazaar has included a wide range of products and service offerings under their retail chain. The current formats include Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar. The inspiration behind this entire retail format was from Sarvana stores, a local store in T. Nagar, Chennai. The stores are customized to provide the feel of mandis and melas while offering the modern retail features like Quality, Choice and Convenience. As the modern Indian family's favourite retail store, Big Bazaar is popularly known as the "Indian Wal-Mart". On successful completion of ten years in Indian retail industry, in 2011, Big Bazaar has come up a new logo with a new tag line: ‘Naye India Ka Bazaar’, replacing the earlier one: 'Isse Sasta Aur Accha Kahin Nahin'. And now it is “Making India Beautiful”. OWNERSHIP PATTERN Future Retail Limited is a wholly owned subsidiary of Pantaloon Retail (India) Limited. This entity has been created keeping in mind the growth and the current size of the company’s value retail business, led by its format divisions, Big Bazaar and Food Bazaar. Big Bazaar, a part of the future Group, is a hypermarket offering a huge array of Goods of good quality for all at affordable prices. Big Bazaar with over 250+ outlets in a different part of India is present in both the metro cities as well as in the small towns. Big Bazaar has no doubt made a big name in the retail industry of India, moreover Shopping here is further made a memorable experience with the varied rates of discounts on products as well as discount vouchers available in a variety of amounts, like INR 2000, INR 3000, INR 4000, INR 5000 and INR 10000 on all Big Bazaar products and Accessories.
21 ORGANISATION STRUCTURE The organisational structure for BIGBAZAAR is flat in nature. Store Manager Big Bazaar Store Asst. Store Manager Sales HR CSD VM Administration Warehouse Cash Food Bazaar G M FBB DM ADM TL TM HR Manger D M CSD TL Loyalty TL VM Manager Supervisor Security Cash Manager Safety House keeping TL Supervisor Head Cashier TM DM ADM TL TM
22 ORGANISATIONAL DEPARTMENT: STORE MANAGER Basically, Store Karta is known as Store Manager. Because Kishore Biyani strictly follows Indian culture so it is called as Store Karta. This is the highest position in the store. He is the father and head of the family. He is the decision maker for the store. The store manager is the responsible for both the top line responsibility is sales and the bottom-line responsibility is profit. Role of Store Karta involves: ➢ Ensuring smooth operations of the store. ➢ Making plans to ensure highest profit for the store. ➢ Proper execution of plans. ➢ Deciding on offer/deals for clearance of products. ➢ Conducting meeting for proper communication flow. ASSISTANT STORE MANAGER There are three ASK’s in the store. Each ASK looks after 1 to 2 department of the store. The main function of the ASK is to assist the SK in his targets and help achieve him the same. Basically, there will be only one ASK in case of family centre and if it is a store only then depending on the size of the store there will be ASK. In Big Bazaar, Ameerpet there is only one Assistant Store Karta. SALES DEPARTMENT Sales department is the most important department in the Organization as it is the revenue generator for the organisation. This department is responsible for end to end sales process. In this department, the department is headed by DEPERTMENT MANAGER and he is responsible for all the team management process. In this team the DM is supported by ADM (Asst. Department Manger), TL (Team Leader) and TM (Team Member). This department is basically divided into three that are FOODBAZAAR, FASHION BIGBAZAAR And GENERAL MERCHINDISING section. Each section has its own team and separate responsibility. FOODBAZAAR contains all type of food items and FMCG product, FBB contains all garments and shoes and GM section contains all FMCD products.
23 HR DEPARTMENT HR department is another most important department and this department is totally responsible for HUMAN RESOURCES. Its basic function is started from job requirement, onboarding, training, compensating, motivating and separation process. Generally, in each store there is one HR MANAGER/ PEOPLE OFFICER are appointed to do the above job. And they are operated directly from SHQ (State Head Quarter). CSD DEPARTMENT CSD or Customer Service Development Department are responsible for handling query of customer, enhancing customer value, regular communication with the customer, and for internal communication in business hour with floor staff and other staffs. In this department the head of the department is DEPARTMENT MANAGER and get assisted by CSD TL and LOYALTY TL. VISUAL MERCHANDISING DEPARTMENT VM department or visual merchandising department is held responsible for the overall IN-SHOP BRANDING, Merchandising. Which means they help in the promotion and advertisement of the in-shop brands to communicate with customer and enhance the brand awareness. ADMINISTRATION DEPARTMENT This department is totally for admin purpose and divided in three major sub- departments i.e. SAFETY, HOUSE KEEPING and SECURITY. Safety department is responsible for the safety measure of the stores as it is an artificial structure and there is chance of casualty. House Keeping department is responsible for sanitation of the total area of operation. And Security is responsible for the prevention of theft and loss of the valuable goods and commodities. These three department is headed by three individual supervisor and the team members of each department help them in day to day operation.
24 WAREHOUSE DEPARTMENT This department’s job is to receive the goods, manage the goods, maintain the proper stock quantity and ensure freshness of the stock. This department is headed by DM and assist by ADM, TL and TM. CASH DEPARTMENT This department is meant for the cash handling purpose. The items sold in the store are billed through organisation POS system and an electronic functioned cash box is maintained to reduces the error level. This department is headed by CASH MANAGER and assist by TL, Supervisor, Head Cashier and Team Members.
25 RETAIL OPERATION: Retail operation involves managing the day to day function of retail establishment. Retail operation professionals manage retail establishment on a daily basis and are responsible for maximizing store profits for the regions and for the geographic. In retail operation there are some important departments in Big Bazaar: ➢ Sales department ➢ HR department ➢ Visual Merchandising department ➢ Warehouse & Logistics department ➢ CSD department ➢ CASH or Finance department ➢ Administration department According to Rakesh Biyani Retail Operation means Store operation resources, daily procedures, creating internal controls and systems, establishing retailing functions and other day-to-day retail store operations. RETAIL STORE OPERATION: PROPERTY terms of BIG BAZAAR, ESPLANDE ONE, BHUBANESWAR Carpet area – 27658 Sq. Ft (includes parking, back office, stock office and warehouse) PI LABEL UP-DATION Price Indicator for new SKU and price changes for existing SKU’s should be given twice 8.30 am and 3.30 p.m. The IT department will do the price updating on the system and generate PI labels. POP UP-DATION Promotion Indicator for new Promotions and Offer changes for existing SKU’s should be given twice 9.30a.m and 4.30p.m. The marketing department will do the POP Printing and hand over the floor team. BHUBANESWAR
26 FLOOR READY TO OPERATE The Store Operations Manager takes care of the floor which will be ready by 10.00 am to customers where all the stacking & Cleaning and system are updated and ready to sell. And before the store opens the Operations manager or the Floor Managers takes Briefing to their staff and explains the promotions & targets. DISPLAY POLICY ➢ To prevent gaps in the shelf that are not pleasing visually, the SKU on the right- hand side must be extended across the facings of the SKU, which are out of stocks. ➢ Shelf merchandising policy from left to right – “Lowest to the Highest”, “Smaller packs at the top and bigger packs at the bottom”. SPACING PLANNING It helps a retailer determine the amount of space available for selling and for storage. It also helps determine the following ➢ The location of various departments ➢ The location of various products within the department ➢ The specific location for impulse products, destination areas, seasonal products with specific merchandising needs etc. CONCESSIONAIRES These are the vendors who are given exclusive right to sell a particular product in areas inside/outside the store. The terms and conditions for setting up a concessionaire can be either on a Minimum Guarantee or the margin contribution on the amount of sale. MERCHANDISING Providing customers, the derived quantity of Goods in a fair assortment, conveniently located in the store with visual appealing display. Some important things should be kept in mind while taking up merchandising: ➢ Vendor/source identification Criteria for selecting the Vendor Reliability, Credit terms, Lead time for supply, price, quantity, Service history, physical infrastructure, Market credibility, Long time relationship, Statutory compliances and more product range.
27 ➢ Negotiation • Cost price at which customer purchase • M.R.P. marked price at which SKU is sold • Trade Discount Extra margin given for a specific purpose either in monetary terms or through free products • Seasonal Discount given during OFF season • Promotional Allowances given by the company to conduct a promotion. ➢ Pricing • CSP consumer selling price always below M.R.P • CSP for MRP fixed should follow • Killer SKU’s – 5% • Profit Generation - 2% • RSP Retailer selling price is less than the MRP and CSP ➢ PO (Purchase Order) • Manual (requirement signed by the replenishment officer) or auto (modify up to 50% on either side). • ARS – Auto Replenishment system through SAP • PO has expiry date and delivery date • All the discounts, taxes, freight etc., have to be included in PO. WAREHOUSE Warehouse procedures at Bhubaneswar hyper are systematic and run through electronic data processing. Warehouse manager takes care of all the activities at warehouse, followed by supervisor who is responsible for the operations of warehouse. The activities of warehouse start with receiving goods, bar-coding, damage and expiry, repacking and last but not the least transfers and system entries. The warehouses of BHUBANESWAR Hyper plays a dual role as a warehouse to the hyper store, which is adjacent to the warehouse and as a distribution centre for the small store’s in Bhubaneswar. Warehouse has the following functions:
28 RECEIVING The receiving process has an important role to play in the warehouse. The receiving process starts with raising a PO, verifying the Invoice, receiving goods from the vendor, cross checking the stock with the PO raised and Invoice. Receiving Process Merchandiser PO Vendor Invoice Security Pass in Slip Receiving Area While receiving the goods, the supervisor has to keep in mind the 5 parameters to check the stock ➢ Physical Counting ➢ MRP ➢ Expiry Date ➢ Visual Quality Check ➢ EAN (European article number) code which is 13 digits. Once the goods are received, GRN (goods received note) has to be prepared for the PO and Invoice rose. If at all there is any difference in the value generated by the GRN either because of difference between the invoice and PO, a note called VDN (value discrepancy notes) is automatically generated. The number of SKU’s limited to PO and Invoice are 20. The GRN generated, PO, Invoice along with any VDN has to be authorized by the buyer and the warehouse manager. The original is sent to the Head Office and a duplicate is filed in the warehouse for future reference. The stock is not allowed into the store if the GRN is pending.
29 BAR-CODING Bar-coding is generally done if any of these following cases arises: ➢ For the unbranded goods i.e. staples and F+V ➢ When there are multiple EAN’s for ISKU ➢ When there are multiple SKU’s with one EAN Code ➢ If there is a mismatch between EAN code on the product and earn in PO. One has to be very careful w.r.t EAN and SKU code. There should always be a match EAN=SKU. DAMAGE AND EXPIRY This division takes care of those goods which are damaged and expired as on date. The primary activity of this division is that it has to verify and return the goods to the vendor which are damaged and expired. For the goods which are returned back to the vendor should carry a Statement called NRGP (non-returnable gate pass). NRGP is made on the goods which are sent back to the vendor permanently. It is an issue. For F+V, in cases when the vendor does not accept NRGP, DAD (Disposal authority docket) which is manual has to be prepared before dumping the damaged stock, that has to be authorized by the business head, loss prevention manager, warehouse manager, buyer and security. For DAD and SV, the value should be entered negative value. ➢ SV is the system statement of DAD.SV is done for both branded and unbranded. NRGP is made for the goods which are going out of the warehouse for a purpose may be for repairing, repacking etc., and is assumed to return back to the store once the purpose is fulfilled. Unlike NRGP, this is considered as a temporary gate pass. The number of days limited to RGP is 7 days. ➢ GRWH (Goods returned to warehouse) is a note which depicts the no of goods that are returned to the warehouse from the store, promotional item, return on price problem, damaged basket, damaged trolley etc. A code is assigned for the reason of return of goods to the warehouse Eg.CC return on quality problem.
30 REPACKING This is a division in warehouse where the GRWH items under Unbranded may go for Repacking, after which they are again sent back to the store by raising a TO. The weight loss for the staples is treated as Process Loss. TRANSFERS There are two types of transfers that are raised by the warehouse ➢ Transfer out: when the stock is sent to the store, branded, non-branded, bulk staple, Institution sale, export, re-packers etc. from the distribution centre. It is an ISSUE. ➢ Transfer in: This document is prepared when the warehouse receives the goods. TI is made in the times of damaged goods sent to the warehouse from the store. It is a RECEIPT. The TO and TI are raised in the store; for which the TO of warehouse or DC is a TI for Store and TI for warehouse is a TO for store. SCRAP The cartons and the waste material are sold as scrap to the outsiders at a fixed rate per KG. STOCK CHECKING Tallying the physical stocks along with the book stocks are called as stock check. Stock check is very much essential to identify the unknown losses / thefts / documentation errors of the inventory. Unless we tally the stocks periodically, we will not be able to identify the actual stock position and stock levels. The stock check will have a direct impact on the working capital. Stock check will highlight the crucial issues like documentation issues etc. Commercial will be correcting such documentation issues and account for the losses like pilferage and conversion losses etc which in turn makes the working capital much realistic. There is a schedule for the stock checks followed by the commercial team.
31 D. FINDINGS AND ANALYSIS DATA ANALYSIS First of all, sale report of a quarter (MAR-MAY 2019) is being collected SKU wise and pivoted as Brand Wise and Category Wise. Process: Sales RAW data > MS Excel Pivot table > Brand Wise Segregation > Category Wise Segregation. Then, the segregated Categorised data are arranged in descending order based on their individual brand sale value and top Seven Brand is taken as consideration for Questioners design. For Example; And this is done for all the 14 selected categories. And the samples are collected. After the samples are being collected the data are inputted in MS-EXCEL and the frequency table is being prepared using the formula “Count If “. And with help of Reverse Ranking Technique Sum product is being calculated and finally the result is Ranked using the function “Rank” and presented graphically. BISCUITS AND COOKIES 1789635.07 BRITANNIA 560056.06 PARLE 371743.6 TASTY TRAET 230454.19 SUNFEAST 187642.14 BISK FARM 148040.27 MC VITIES 103844.66 CADBURY 92246.12 DUKES 46139.95 UNIBIC 44392.23 PATANJALI 5075.85 Seven Brand of Biscuits and Cookies Category
32 Figure: - 1.1 (Frequency Table of Category – ATTA) Figure: - 1.2 (Bar Chart of Category – ATTA) 368 270 248 170 199 155 158 0 50 100 150 200 250 300 350 400 AASHIRVAAD 24 MANTRA GOLDEN HARVEST KOSH PATANJALI RISHTA THE GREEN EARTH ATTA Inference of Category ATTA From the data it is found that AASHIRVAAD is most preferred brand followed by 24 mantra, the home product in this segment GH and KOSH got the rank 3 and 5 respectively.
33 Figure: - 2.1 (Frequency Table of Category – Biscuit & Cookies) Figure: - 2.2 (Bar Chart of Category – Biscuit & Cookies) 339 318 215 194 178 157 165 0 50 100 150 200 250 300 350 400 BRITANIA PARLE TASTY TREAT SUNFEAST BISK FARM MC VITIES CADBURY BISCUIT & COOKIES Inference of Category Biscuit & Cookies From the data it is found that BRITANIA is most preferred brand in this segment followed by PARLE the home product in this segment TASTY TREAT got the rank 3 and MC VITIES got the least preferred brand.
34 Figure: - 3.1 (Frequency Table of Category –Ghee) Figure: - 3.2 (Bar Chart of Category – Ghee) Inference of Category Ghee From the data it is found that Amul is most preferred brand in this segment followed by FRESH & PURE: the home product in this segment. Gowardhan ghee is ranked as the least preferred brand in this segment. 280 300 176 163 192 174 171 0 50 100 150 200 250 300 350 FRESH & PURE AMUL ANIK GOWARDHAN PATANJALI DEVI DURGA GHEE
35 Figure: -4.1 (Frequency Table of Category –Home Care) Figure: - 4.2 (Bar Chart of Category – Home Care) Inference of Category Home Care From the data it is found that CARE MATE is most preferred brand followed by HARPIC. Here the home product has a market dominance in this segment because of its attracting offer (1+1offer). PRIL and GIFFY are ranked as the least preferred brand. 339 318 215 194 178 157 165 0 50 100 150 200 250 300 350 400 CARE MATE HARPIC MR. MUSCLE NIMYLE COLIN PRIL GIFFY HOME CARE
36 Figure: -5.1 (Frequency Table of Category –Noodles) Figure: -5.2 (Bar Chart of Category –Noodles) Inference of Category Noodles From the data it is found that MAGGI is most preferred brand followed by YIPPEE, the home product in this segment TASTY TREAT got the rank 6th .The main reason behind this is the brand loyalty is high in this segment. 346 304 205 193 148 140 141 0 50 100 150 200 250 300 350 400 MAGGI YIPPEE TOP RAMAN PRIME KOKA WAI WAI TASTY TREAT NOODLES
37 Figure: -6.1 (Frequency Table of Category –Spices) Figure: -6.2 (Bar Chart of Category –Spices) Inference of Category Spices From the data it is found that EVEREST is most preferred brand followed by GOLDEN HARVEST, the home product in this segment. The main reason behind this is the wide range of Whole Spices in this segment. Another home brand SK (Premium Product) got the least position in this segment. 301 316 262 218 179 146 146 0 50 100 150 200 250 300 350 GOLDEN HARVEST EVEREST CATCH RUCHI MDH GRIHASTI SANGI'S KITCHEN SPICES
38 Figure: -7.1 (Frequency Table of Category – Sauce & Spreads) Figure: -7.1 (Bar Chart of Category –Sauce & Spreads) Inference of Category Sauce & Spreads From the data it is found that KISSAN is most preferred brand followed by MAGGI, the home product in this segment TASTY TREAT and SK got the rank 3 and 5 respectively. 354 287 240 193 213 150 139 0 50 100 150 200 250 300 350 400 KISSAN MAGGI TASTY TREAT SANGI'S KITCHEN PRIME FUNFOOD WEIKFIELD SAUCE & SPREADS
39 Figure: -8.1 (Frequency Table of Category –Edible Oil) Figure: -8.2 (Bar Chart of Category – Edible Oil) Inference of Category Edible Oil From the data it is found that FORTUNE is most preferred brand followed by FRESH & PURE, the home product in this segment. The main reason behind this is the PRICE it provides through FUTURE PAY which is more pocket friendly than others. Another home brand KARMIQ (Premium Product) got the least position in this segment. 299 326 222 222 168 159 144 0 50 100 150 200 250 300 350 FRESH & PURE FORTUNE DHARA SAFFOLA OLEEV SUNDROP KARMIQ EDIBLE OIL
40 Figure: -9.1 (Frequency Tablet of Category – Tea) Figure: -9.2 (Bar Chart of Category – Tea) Inference of Category Tea From the data it is found that TATA TEA is most preferred brand in this segment followed by RED LEBEL. The home product in this segment FRESH & PURE got the rank 3 and TWININGS got the least preferred brand. 351 286 215 197 148 163 124 0 50 100 150 200 250 300 350 400 TATA TEA RED LEBEL FRESH & PURE MARVEL ORGANIC IND AGNI TWININGS TEA
41 Figure: -10.1 (Frequency Table of Category – Snacks) Figure: -10.2 (Bar Chart of Category – Snacks) Inference of Category Snacks From the data it is found that HALDIRAM is most preferred brand in this segment followed by TASTY TREAT the home product in this segment. CORNITOS is ranked as the least preferred brand in this segment. 309 333 222 192 186 179 175 0 50 100 150 200 250 300 350 TASTY TREAT HALDIRAM ACT II TOO YUMMY PRABHUJI BINGO CORNITOS SNACKS
42 Figure: -11.1 (Frequency Table of Category – Pickle) Figure: -11.2 (Bar Chart of Category – Pickle) Inference of Category Pickle From the data it is found that MOTHER’S is most preferred brand in this segment followed by NILON’S. The home product in this segment TASTY TREAT got the rank 4 and PRIYA ranked with the least preferred brand. 254 193 149 110 134 0 50 100 150 200 250 300 MOTHER'S NILON'S PRIME PRIYA TASTY TREAT PICKLE
43 Figure: -12.1 (Frequency Table of Category – Papad) Figure: -12.2 (Bar Chart of Category – Papad) Inference of Category Papad From the data it is found that DNV is most preferred brand in this segment followed by GANESH (LOCAL). The home product in this segment TASTY TREAT ranked 5th position which is least in this segment. 302 301 297 228 222 0 50 100 150 200 250 300 350 DNV GANESH MOTHER'S ROZANA TASTY TREAT PAPAD
44 Figure: -13.1 (Frequency Table of Category – Baked Food) Figure: -13.2 (Bar Chart of Category – Baked Food) Inference of Category Baked Food From the data it is found that MIO AMORE is most preferred brand in this segment followed by TASTY TREAT the home product. In this segment BAKERSTREET ranked as the least preferred brand. 339 318 215 194 178 157 165 0 50 100 150 200 250 300 350 400 MIO AMORE TASTY TRAET BRITANIA PILLSBURY BAULI BAKERSTREET MONGINIS BAKED FOOD
45 Figure: -14.1 (Frequency Table of Category – Coffee) Figure: -14.2 (Bar Chart of Category – Coffee) 170 115 114 73 98 0 20 40 60 80 100 120 140 160 180 BRU FRESH & PURE NESCAFE SUNRISE TATA COFFEE Inference of Category Coffee From the data it is found that BRU is most preferred brand in this segment followed by FRESH & PURE the home product. In this segment SUNRISE (Kolkata Based) ranked as the least preferred brand.
46 Then, the Sale Figure of Each Category Brand Wise Percentage is being Calculated across its respective Category of only In-store Product and respective ranks are given extracted from the preference analysis. Figure: -15.1 (In-Brand Sale % to its Respective Category with Preferred Rank) Based on this table the total In-store Brands are placed in GE 9 CELL Matrix. Figure: -16.1 (GE 9 CELL Matrix of In-store Brands of BIGBAZAAR) Category In-Store Brand Sale % Preferred Rank GOLDEN HARVEST 22.98 3 KOSH 1.50 5 BISCUITS AND COOKIES TASTY TREAT 12.88 3 GHEE FRESH & PURE 28.29 2 HOME CARE CLEAN MATE 19.95 1 NOODLES TASTY TREAT 1.33 6 GOLDEN HARVEST 48.92 2 SANGI'S KITCHEN 2.85 6 TASTY TREAT 3.86 3 SANGI'S KITCHEN 10.33 5 FRESH & PURE 19.31 3 KARMIQ 6.18 7 TEA FRESH & PURE 12.36 3 SNACKS TASTY TREAT 32.90 2 PICKLE TASTY TREAT 4.02 4 PAPAD TASTY TREAT 9.31 5 BAKER STREET 1.51 2 TASTY TREAT 14.02 7 COFFEE FRESH & PURE 7.17 2 ATTA SPICES SAUCES & SPREADS EDIBLE OIL BAKED FOOD Source: Self Survey
47 Then, the collected data of what are the factor that affect the brand choice of an individual are tabulated in MS- Excel and then Frequency Table is being made with the help of Count-if function and with the help of Reverse Ranking Technique the Sum- Product is being calculated and find out the Percentage of response for each Factors. Figure: -17.1 (Bar Chart – Factors affecting the preference of customer while selecting a brand in BIGBAZAAR) Inference The chart shows that the Price of the Brand is most common factor and it affect most of the people that is 21%, next to it Brand loyalty is 19% and Utility of the Product is 18%. And the least affected factors are Exciting Offer of the Product 11%, Attracting Packing of the product as well as Salesman’s Approach 9% both.
48 E. INTERPRETATION a. MAJOR FINDINGS 1. Most Preferred Brand across the Category ❖ Atta: Aashirvaad ❖ Biscuit: Britannia ❖ Baked Food: Mio Amore ❖ Coffee: Bru ❖ Ghee: Amul ❖ Spices: Everest ❖ Sauces & Spreads: Kissan ❖ Noodles: Yippee ❖ Edible Oil: Fortune ❖ Homecare: Care mate ❖ Pickle: Mother’s ❖ Papad: DNV ❖ Tea: TATA Tea ❖ Snacks: Haldiram 2. In-store Brand Vs Competition Brand Figure: -18.1 (Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand)
49 ❖ Atta: In ATTA category the In-store Brand GOLDEN HARVEST got the 3rd rank and KOSH got the 5th rank. And here Patanjali got the rank 4th . Which means there may be chances of customer shifting of Patanjali Brand in its absence towards GOLDEN HARVEST or KOSH because these two brands are its near competitor. ❖ Biscuit: In this category the in-store Brand TASTY TREAT got the 3rd rank, which nearest competitors are Parle and Sunfeast Biscuits. It means the brand has good potential. ❖ Baked Food: In this category the in-store Brand TASTY TREAT got the 2nd rank, which nearest competitor is Mio Amore. It means the brand has Very good potential. ❖ Ghee: In this category the in-store Brand FRESH & PURE got the 2nd rank, which nearest competitor is Amul. It means the brand has very good potential. ❖ Coffee: In this category the in-store Brand FRESH & PURE got the 2nd rank, which nearest competitor is BRU. It means the brand has very good potential. Figure: -18.2 (Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand) ❖ Spices: In this category the in-store Brand GOLDEN HARVEST got the 2nd rank, which nearest competitor is Everest. It means the brand has very good potential ❖ Sauces & Spreads: In this category the In-store Brand TASTY TREAT got the 3rd rank and SANGI’S KITCHEN got the 5th rank. And here Prime got the rank 4th . Which means there may be chances of customer shifting of Patanjali Brand in its
50 absence towards TASTY TREAT or SANGI’S KITCHEN because these two brands are its near competitor ❖ Edible Oil: In this category the in-store Brand FRESH & PURE got the 2nd rank, which nearest competitor is Fortune. It means the brand has very good potential. ❖ Home Care: In this category it is ranked as the most preferred brand by the customer and it may be the CASH COW for the Organisation. ❖ Noodles: In this category the in-store Brand TASTY TREAT got the 6nd rank, which nearest competitors are KOKA & WAI-WAI Noodles. The rank shows that brand has Very less potential. Figure: -18.3 (Sun Burst Chart- Showing the Comparative Position between In- Store Brand Vs Competitor Brand) ❖ Pickle: In this category the In-Store brand TASTY TREAT got 4th rank, which denotes that is has potential but some initiative can push the rank higher. ❖ Papad: In this category the In-Store brand TASTY TREAT got 5th rank, which denotes that is has potential but some initiative can push the rank higher. ❖ Tea: In this category the In-Store brand FRESH & PURE got 3rd rank, which denotes that is has potential but some initiative can push the rank higher. ❖ Snacks: In this category the In-Store brand TASTY TREAT got 4th rank, which denotes that is has potential but some initiative can push the rank higher. 3. IMPORTANT FACTORS ❖ Price of the Brand: The most common and preferred factor that affect the brand preference of an individual is Price of the brand. It is the most important factor of
51 4p’s Marketing. Because BIGBAZZAR demands “Hardin Sasta” and that is one of the most important things that attracts the customer. But when the price is high in certain In-Store brand like KARMIQ, SANGI’S KITCHEN, BAKER STREET etc are the basic reason of getting the least rank. However, this factor affects 21% of the sample. ❖ Brand Loyalty: Brand Loyalty means that the satisfaction got from a certain brand and it is harder to switch that particular brand. This can be identified with repeat purchase of certain brand by an individual. And this factor affects 19% of the sample as they don’t want to switch to other product and Brand although it gives the same benefit. In some cases where Brand Loyalty is high, Price hardly matters to them. ❖ Utility of the Product: Here Utility means the benefit-sought of a product. And in this context where there is Brand Preference differs as per the utility of the consumer. For example; A customer prefer TASTY TREAT Biscuit but his Kid loves the Britannia Biscuit, so here if he purchases TASTY TREAT for his kid then that will hardly help him. So, this factor is preferred by 18% of total sample. ❖ Popularity of the Product (Brand Advertisement): This also one of the P of 4P’s of marketing i.e. Promotion. It plays a vital role changing the brand preference of the consumer because of its attractive visibility & stimuli. This factor has been preferred by 13% of the total sample. ❖ Exciting offer in the Product: This means the Sales Promotion which attracts the customer and helps the marketer to reduce the self-life a certain brand. In Indian mind set we feel happy when we got something extra or free of cost and that’s why this is preferred by 11% of the total sample size. Although this factor is followed by each and every organised retail store but it never works always. The major success of FUTURE PAY CASH BACK system is one of the classic examples which triggers the mind of the customer to switch the brand preference towards the In-store Product. ❖ Attracting Packing of the Product: It means the Packing and labelling of the product which helps the customer’s brand choice. But very less Customer of BIGBAZAAR things that this factor affects their brand decision that is only 9% of the total sample. ❖ Salesman’s Approach: This means the approach by a salesperson to buy a particular brand to the customer. But BIGBAZAAR’s retail type is ISS
52 (Independent Self Service) Outlet, where customer funds of selecting their own brand and product themselves and they don’t want a salesman view or approach unless until they need. So, this is the reason they give less priority to this factor that is only 9% of the total sample size. b. SUGGESTIONS ❖ Invest, Protect, Harvest and Divest. Figure: -16.1 (GE 9 CELL Matrix of In-store Brands of BIGBAZAAR) Based on this GE 9 CELL Matrix, my suggestion is on Control and giving priority to some In-store brand so that the Productive will be higher and the consumer preference will be enhanced so on. Here the X axis denotes the Industry Attractiveness or we can say the Consumer Preference and the Y Axis denotes the Business Strength or we can say the sale Percentage. Invest: From the matrix on the Consumer preference is High & Medium And the sale percentage also Strong and Average this Green area shows that organisation should invest more and more to that product so that it will give better results. The In-store Brands which lies in this portion are FRESH & PURE (GHEE), GOLDEN HARVEST (SPICES), FRESH & PURE (EDIBLE OIL), GOLDEN HARVEST (ATTA), TASTY TREAT (BISCUIT), TASTY TREAT (SAUCE & SPREAD), FRESH & PURE (TEA), TASTY TREAT (SNACKS), TASTY TREAT (BAKED FOOD) and FRESH & PURE (COFFEE). Protect: From the matrix when the consumer preference is Medium and the sale percentage is also Average then there is huge chance of entry of new rivalry so
53 organisation should protect this type of brand. In BIGBAZAAR In-store Brand Care Mate is that brand which need to protected. Harvest: From the matrix when the consumer preference is Medium and the Sale Percentage is also Weak and another situation where the consumer preference is Low and Sale percentage is Average then the brand portfolio is in red zone which indicates that organisation should invest less and sale it and after that it will go for further investment or in one word we can say harvest the brand. In BIGBAZAAR the brands are TSATY TREAT (PICKLE), KOSH (ATTA), TASTY TREAT (PAPAD), TASTY TREAT (NOODLES) & SANGI’S KITCHEN (SPICES). Divest: From the matrix when the consumer preference is Low and the sale percentage is also Weak than it comes under RED zone but it implies Divest. It means organisation should liquidate these brands so that the investment made on it will realised. As it is hard to revive these brands which has very less potentials. ❖ Update MPM with respect to Consumer Preference. MPM means Merchandise Percent Manual which is referral rule book provided by BIGBAZAAR to maintain the uniformity in each Stores across its operation area. This book generally provides the data about the prescribed percentage of brand positioning, sequence of brand positioning, proper flow of brand and category in side the store. And it is totally based on the consumer preference. So, the change in passage of time and generation of consumer the taste and preference of the consumer also change and for this reason the MPM should be changed time to time so that it will provide better service and customer satisfaction. ❖ Following the portfolio matrix optimal utilization of BAY/RACK/SELF is possible. By following the GE 9 CELL Matrix or Portfolio matrix it is possible to use the BAY optimally. As this matrix shows where to give more input and where to not. Which creates a gap and that will be utilised for existing product and also be used for new Brand introduction.
54 F. CONCLUSION Consumer Preference plays a vital role in the market as it directly influences the buying behavior of a consumer to a certain product or service. So, the organization should more focused towards Consumer Preference. According to the analysis it can be concluded that other Competitor products are more preferable than the In-store product but it has potentials in a number of segment so organization should invest more and more inputs into that products so that it will be more productive. However, Consumers have the preference in some of the BIGBAZAAR’s brand like Care mate, Fresh & Pure, Golden Harvest & Tasty Treat. And I suggest to create In-store Brand awareness programs so that more and more customer can reach to the home product which will enhance its width and depth of growth. a. FUTURE SCOPES As I have collected the demographic profile data of the customer and eager to know the demographic points how it will affect the consumer preference decisions and if there is a pattern behind it or not. In my analysis I got same result in two segments i.e. Atta and Sauces & Spread where the In-store brands of each got 3rd and 5th rank and want to know if the 4th rank brand is not available will they go for any of these two brands. And finally, If I got a chance in future to work with BIGBAZAAR I will try to extent this study to in different geographical location across India. As I expect the results may differ from this and may many other interesting facts may come out.
55 G.APPENDIX SL. NOFIGURENO FIGUREDETAILS PAGENO 1 1.1 Frequency Table of Category – ATTA 32 2 1.2 Bar Chart of Category – ATTA 32 3 2.1 Frequency Table of Category – Biscuit &Cookies 33 4 2.2 Bar Chart of Category – Biscuit &Cookies 33 5 3.1 Frequency Table of Category –Ghee 34 6 3.2 Bar Chart of Category – Ghee 34 7 4.1 Frequency Table of Category –Home Care 35 8 4.2 Bar Chart of Category – Home Care 35 9 5.1 Frequency Table of Category –Noodles 36 10 5.2 Bar Chart of Category –Noodles 36 11 6.1 Frequency Table of Category –Spices 37 12 6.2 Bar Chart of Category –Spices 37 13 7.1 Frequency Table of Category – Sauce &Spreads 38 14 7.2 Bar Chart of Category –Sauce &Spreads 38 15 8.1 Frequency Table of Category –Edible Oil 39 16 8.2 Bar Chart of Category – Edible Oil 39 17 9.1 Frequency Tablet of Category – Tea 40 18 9.2 Bar Chart of Category – Tea 40 19 10.1 Frequency Table of Category – Snacks 41 20 10.2 Bar Chart of Category – Snacks 41 21 11.1 Frequency Table of Category – Pickle 42 22 11.2 Bar Chart of Category – Pickle 42 23 12.1 Frequency Table of Category – Papad 43 24 12.2 Bar Chart of Category – Papad 43 25 13.1 Frequency Table of Category – Baked Food 44 26 13.2 Bar Chart of Category – Baked Food 44 27 14.1 Frequency Table of Category – Coffee 45 28 14.2 Bar Chart of Category – Coffee 45 29 15.1 In-Brand Sale %to its Respective Category with Preferred Rank 46 30 16.1 GE 9 CELL Matrix of In-store Brands of BIGBAZAAR 46&52 31 17.1 Bar Chart – Factors affecting the preference of customer while selecting a brand in BIGBAZAAR 47 32 18.1 Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand 48 33 18.2 Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand 49 34 18.3 Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand 50
56 H. QUESTIONNAIRE Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Thank You Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) CADBURY Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand SUNFEAST BISK FARM Mc VITIES BRITANNIA PARLE TASTY TREAT *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Rank These Brands as per your Preference from 1 to 7 BISCUIT & COOKIES Brand Name Rank
57 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Thank You- Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) MONGINIS Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand PILLSBURY BAULI BAKERSTREET MIO AMORE TASTY TREAT BRITANNIA *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Rank These Brands as per your Preference from 1 to 7 BAKED FOOD Brand Name Rank Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Attracting Packing of the Product Salesman's Approach Thank You Utility of the Product Popularity of the Product (Brand Advertisement) Exciting Offer in the Product Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand Brand Loyalty NESCAFE SUNRISE TATA Rank These Brands as per your Preference from 1 to 5 COFFEE Brand Name Rank BRU FRESH & PURE *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose.
58 1 2 1 2 Thank You Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Price of the Brand Brand Loyalty Utility of the Product Factors Rank GOWARDHAN PATANJALI DEVI GHEE Brand Name Rank FRESH & PURE AMUL Rank These Brands as per your Preference from 1 to 7 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) Name: (Optional) Gender Male Female Thank You *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Popularity of the Product (Brand Advertisement) Exciting Offer in the Product Attracting Packing of the Product Factors Rank Price of the Brand Brand Loyalty SAFFOLA OLEEV SUNDROP EDIBLE OIL Brand Name Rank FRESH & PURE FORTUNE Rank These Brands as per your Preference from 1 to 7 Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Popularity of the Product (Brand Advertisement) Rank these factors from 1 to 7 which effects your Preference DURGA ANIK Salesman's Approach Utility of the Product KARMIQ Rank these factors from 1 to 7 which effects your Preference DHARA Name: (Optional) Gender
59 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. 1. Rank These Brands as per your Preference from 1 to 7 HOME CARE Brand Name Rank CLEAN MATE *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Thank You Attracting Packing of the Product Salesman's Approach Utility of the Product Popularity of the Product (Brand Advertisement) Factors WAI WAI TASTY TREAT TOP RAMAN Rank These Brands as per your Preference from 1 to 7 Thank You Popularity of the Product (Brand Advertisement) Exciting Offer in the Product Brand Loyalty Utility of the Product 2. Rank these factors from 1 to 7 which effects your Preference COLIN PRIM HARPIC CLEAR MATE Exciting Offer in the Product Rank Price of the Brand Brand Loyalty Rank these factors from 1 to 7 which effects your Preference YIPPEE PRIME NOODLES Brand Name Rank MAGGI Salesman's Approach Attracting Packing of the Product Factors Rank Price of the Brand MR MUSCLE NIMYLE KOKA
60 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student Thank You Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Thank You Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) TASTY TREAT Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand NILON’S PRIME PRIYA Rank These Brands as per your Preference from 1 to 7 PICKLE Brand Name Rank MOTHER’S Popularity of the Product (Brand Advertisement) Exciting Offer in the Product Attracting Packing of the Product TASTY TREAT Rank these factors from 1 to 7 which effects your Preference Factors Price of the Brand Salesman's Approach Brand Loyalty Utility of the Product Rank GANESH MOTHER’S RankPAPAD Brand Name Rank These Brands as per your Preference from 1 to 7 DNV ROZANA
61 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Thank You Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) CORNITOS Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand TOO YUMMY PRABHUJI BINGO TASTY TREAT HALDIRAM ACT II Thank You Rank These Brands as per your Preference from 1 to 7 SNACKS Brand Name Rank Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) WEIKFIELD Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand PRIME MAGGI TASTY TREAT KISSAN FUN FOOD SANGI’S KITCHEN Rank These Brands as per your Preference from 1 to 7 SAUCE & SPREADS Brand Name Rank
62 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Thank You *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) TWININGS Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand BROKE BOND ORGANIC IND AGNI TATA TEA RED LEBEL FRESH & PURE Thank You Rank These Brands as per your Preference from 1 to 7 TEA Brand Name Rank Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) SANGI’S KITCHEN Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand RUCHI MDH GRIHASTI GOLDEN HARVEST EVEREST CATCH Rank These Brands as per your Preference from 1 to 7 SPICES Brand Name Rank
63 I. BIBLIOGRAPHY Articles & Journals: • Irudaya Rajan S., Population Ageing and Health in India. Background Paper Series 1, Centre for Enquiry into Health and Allied Themes, Mumbai, 2006. • Ramanathan V. and Hari K., ―Structural changes in Indian Retail market: From Unorganized to Organized‖, Indian Journal of Marketing, December, pp-34- 40, 2008. Books: • Pater C. Verhoer, Kannan P.K., Jeffrey Inman J. (2015), "From Multi-Channel retailing to Omni-Channel retailing: Introduction to the Special Issue on Multi- Channel Retailing", Journal of retailing, Vol. 91, Issue 2, pp174-181. • Eleonora Pantano, Harry Timmermans (2014), "What is Smart for Retailing?", Procedia Environmental Sciences, Vol 22 pp101-107 • Eser Telci E, Ceyda Maden et.al (2011), "The Theory of Cognitive Dissonance: A Marketing and Management Perspective", Procedia-Social and Behavioural Sciences, Vol 24, pp378-386. • Anand K.S. and Sinha P.K.., Store format, choice in an evolving market: role of affect cognition and involvement. International Review of Retail, Distribution and Consumer Research, 19(5), pp. 505- 534, 2009. Divett M., Crittenden N. and Henderson R., Actively influencing consumer loyalty, Journal of Consumer Marketing, Vol. 20 No.2, p.109, 2003. Websites: • https://www.ibef.org/industry/retail-india/showcase • https://www.futureretail.in/about-us/overview-retail.html • https://www.futuregroup.in/aboutus • https://www.futureretail.in/careers/work_with_us.html • https://www.futurelifestyle.in/about_us.html • http://foodhallonline.com/about-us/ • https://bizfluent.com/info-8698883-definition-consumer-preference.html

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Sip report sagar ranjan_das_ espnd1_bb_bbs

  • 1. CONSUMER PREFERENCE IN HOME PRODUCT AND OTHER FMCG - A COMPARATIVE STUDY AT BIG BAZAAR, ESPLANDE ONE, BHUBANESWAR, ODISHA A PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENTOF THE REEQUIREMENTS FOR THE DEGREE OF Master of Business Administration BY SAGAR RANJAN DAS ROLL NO - 1806260051, 3rd SEMESTER Department of MBA ROURKELA INSTITUTE OF MANAGEMENT STUDIES ROURKELA-769015(INDIA) OCTOBER, 2019
  • 3. CERTIFICATE FROM THE ORGANIZATION
  • 4. DECLARATION I Sagar Ranjan Das hereby declare that this project titled “Consumer Preference in home product and other FMCG – A Comparative Study” at BIGBAZAAR, ESPLANDE – 1, Bhubaneswar, is submitted to the Biju Pattnaik University of Technology as a partial requirement for the award of Degree of Master of Business Administration, of Rourkela Institute of Management Studies during the year 2018- 2020. It is the record of an original & independent study carried out by me, under the supervision of my internal guide, Dr Karuna Karan Patra, faculty member of Rourkela Institute of Management Studies. This project report has not been submitted earlier by me or by anybody else for the award of any other degree in any University in India or abroad. Sagar Ranjan Das 1806260051
  • 5. ACKNOWLEDGEMENT I express my sincere gratitude and indebtedness to Dr. Subrat Prasad Pattnayak, HOD (MBA), RIMS for helping me find out this opportunity. I would like to thank my Industry Guide Miss. Ayeshakant Debadarshni (Store People Officer, BB-BBSR, Esplanade-1) for her valuable guidance. I would like to thank Dr. Karuna Karan Patra, Faculty Guide, RIMS for his initiative in this field of research, for his valuable guidance, sympathies and kind attitude always encourage me to carry out the present work firmly. My special thanks to Dr. Sreekumar, Director (R &D), RIMS for sharing his precious knowledge and experience in this field of research help me carryout my SIP Project. Finally, a warm thanks to my friend Mr. Animesh Mohanty, MBA 3rd Sem, RIMS who helped me throughout my SIP Project. Place: Rourkela
  • 6. EXECUTIVE SUMMARY The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. Total consumption expenditure is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space. And we should take care of the industry as well as its growth. Behavioural factor, Socio-Cultural factor, Environmental factor and Economic Conditions plays a vital role for its growth and expansion of it. When we talk about the Behavioural factor of a market it indicates about the consumer behaviour or its preference and taste. It also indicates the buying behaviour of the consumer on different situations. People often prefer some aspects of a product, but not others. When comparing sofas, the colour, fabric and size of the sofas can each have an impact on consumer preference, as well as the number of extra cushions they have. Not all of these aspects carry the same weight. When comparing two restaurants, for example, you may prefer the food and the ambiance of one over the other, but having a rude waiter at one restaurant may cause you to prefer the other restaurant overall. While consumer preference is an indicator of consumer demand, it’s important to note that consumer choices are not always determined by preference alone. Choices are often limited by a consumer’s income or budget, compared to the cost of the item, which is why so few people drive luxury cars or fly first-class. Similarly, in Big Bazaar there is a perfect blend of product mix and brand mix which denotes that in a product category or section there a number of brands are there. Generally, in a section there is a pattern on brand mix that are some of International Brands, some of National Brands, Home Brands and finally Local Brands which directly targets every footfall in the retail store. But here it needs to know the consumer preference to enhance the quality of sale it provides as every DNA has its own preference and choice.
  • 7. INDEX PAGE NO. 01 - 08 a. Introduction 01 b. Objective of the study 04 c. Statement of the problem 05 d. Scope of the study 07 e. limitation of the study 08 09 - 10 a. What is research? 09 b. Data collection 09 c. Sources of Data 09 d. Analysis Technique 10 e. Sampling 10 11-30 31 - 47 48 - 53 a. Major findings 48 b. Suggestions 52 F. Conclusions 54 - 54 a. Future Scope 54 G. Appendix 55 - 55 H. Questionnaire 56 - 62 J. Bibliography 63 - 63 A. Research Design PARTICULARS B. Research Methodology C. Profile of the organisation D. Findings And Analysis E. Interpretation
  • 8. 1 A. RESEARCH DESIGN a. INTRODUCTION RETAIL INDUSTRY Retail is the process of selling consumer goods or services to consumers through multiple channels of distribution to earn a profit. Retailers satisfy demand identified through a supply chain. The term “Retailer” is typically applied where a service provider files the small orders of a large number of individuals, who are end users, rather than large orders of a small numbers of wholesale, corporate or government clientele. Shopping generally refers to the act of buying products. Sometimes this is done to obtain final goods, including necessities such as food and clothing; sometime it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing: it does not always result in purchase. Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than “rude booths” to sophisticated shopping malls of the modern era. Retail comes from the old French word tailler, which means “to cut off, clip, pare, divide” in terms of tailoring (1365). It was first recorded as a noun with the meaning of a “sale in small quantities” in 1433 (from the Middle French Retail, “piece cut off, shred, scrap, paring”). As in the French, the word, retail, in both Dutch and German, also refers to the sale of small quantities of items. RETAIL INDUSTRY IN INDIA The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. Total consumption expenditure is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and
  • 9. 2 around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space. MARKET SIZE India's retail market is expected to increase by 60 per cent to reach US$ 1.1 trillion by 2020, on the back of factors like rising incomes and lifestyle changes by middle class and increased digital connectivity. Online retail sales are forecasted to grow at the rate of 31 per cent year-on-year to reach US$ 32.70 billion in 2018. India is expected to become the world’s fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users. Various agencies have high expectations about growth of Indian e-commerce markets. Luxury market of India is expected to grow to US$ 30 billion by the end of 2018 from US$ 23.8 billion 2017 supported by growing exposure of international brands amongst Indian youth and higher purchasing power of the upper class in tier 2 and 3 cities, according to Assocham. INVESTMENT SCENARIO The Indian retail trading has received Foreign Direct Investment (FDI) equity inflows totalling US$ 1.59 billion during April 2000–December 2018, according to the Department for Promotion of Industry and Internal Trade (DPIIT). With the rising need for consumer goods in different sectors including consumer electronics and home appliances, many companies have invested in the Indian retail space in the past few months. Beccos, a South Korean designer brand is set to enter the Indian market with an investment of about Rs 1.00 billion (US$ 14.25 million) and open 50 stores by June 2019. Walmart Investments Cooperative U.A has invested Rs 2.75 billion (US$ 37.68 million) in Wal-Mart India Pvt Ltd. GOVERNMENT INITIATIVES The Government of India has taken various initiatives to improve the retail industry in India. Some of them are listed below:
  • 10. 3 • The Government of India may change the Foreign Direct Investment (FDI) rules in food processing, in a bid to permit e-commerce companies and foreign retailers to sell Made in India consumer products. • Government of India has allowed 100 per cent Foreign Direct Investment (FDI) in online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India. ROAD AHEAD E-commerce is expanding steadily in the country. Customers have the ever-increasing choice of products at the lowest rates. E-commerce is probably creating the biggest revolution in the retail industry, and this trend would continue in the years to come. India's e-commerce industry is forecasted to reach US$ 53 billion by 2018. Retailers should leverage the digital retail channels (e-commerce), which would enable them to spend less money on real estate while reaching out to more customers in tier-2 and tier- 3 cities. It is projected that by 2021 traditional retail will hold a major share of 75 per cent, organised retail share will reach 18 per cent and e-commerce retail share will reach 7 per cent of the total retail market. HYPERMARKET A “Hypermarket” is a big-box store combining a supermarket and a department store. The result is an expensive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise. In theory, Hypermarkets allow customers to satisfy all their routine shopping needs in one trip. The term Hypermarket was coined in 1968 by French trade expert Jacques Pictet. Hypermarkets, like other big-box store, typically have business models focusing on high volume, low-margin sales. Typically covering an area of 5000 to 15000 square meters (54000 to 161000 square feet), they generally have more than 200000 different brands of merchandise available at any one time. Because of their large footprints, many hypermarkets choose suburban or out of town locations that are easily accessible by automobile.
  • 11. 4 A hypermarket is a retail store that is a combination of grocery supermarket and departmental store. For example: Wal-Mart Super centre, Reliance, Big Bazaar etc where consumer is provided with an enormous retail facility with full line of groceries and general merchandise. People were overwhelmed with the choices available at hyper market which made it a big hit all over the country. HYPERMARKET IN INDIA Hypermarket retail industry was considered more vivacious than ever because of the industrialisation, macroeconomic performance of the country and need of organised retail segment. Due to modernisation and technological growth there was growth in personal disposable income in the last 15 years which made it necessary to have giant retail story where everything is easily accessible. Best part that attracted lot of customers were less prices of hypermarket as they tried to sell product at less margin thus making consumers addicted. Big retail store had advantage of selling high volumes of merchandise, therefore they had greater purchasing power as compared to small retailers which in turn apply pressure on vendors, potentially securing discount on goods that their rivals cannot get from the vendors. This allow the hypermarkets company to sell merchandise at lower than its competitor. Hypermarket was giant, fully AC and completely organised which became the reason as a day out place for people. Similarly, to beef up the margins, hypermarkets in India continuously strived to bring down the share of branded products, substituting them with the store brands like MORE stores have their own brand breads and pulses in their stores. No category was left unexplored. b. OBJECTIVE OF THE STUDY The Comparative study of consumer preference is very much essential when it comes to the topic of manpower management, investment management, inventory and customer relationship management. 1. To identify the most preferred brand across category. Each and every marketer must know its product and customer very well so that it will help him to compete in the challenging market. The marketer must know the
  • 12. 5 USP (Unique Selling Point) or in lay man point of view we can say the most preferred brand or product across the category. And store like BIGBAZAAR who is the largest retail chain in India must know its USP so that it can invest more on that and attract more and more customer. 2. Comparison of Big Bazaar’s home product with respective competing brands. In stores like, BIGBAZAAR there are n’ number of products are there of multiple brands. Some of them are private or in-store brands and other are competitive brands. Now BIGBAZAAR always want that their product and brand should be much more productive but this is possible only when, BIGBAZAAR will know the consumer preference towards its own private brand as well as the other competitive brand. Which will help him to grab the customer and shift the customer from other competitive brands to private brand. 3. To update the Merchandise Percentage Manual (MPM). Merchandise Percentage Manual (MPM) is a rule book of BIGBAZAAR where all the structure of selling area, flow of selling category, brand distribution, brand ratio and brand sequences are given which to be followed by all BIGBAZAAR. This MPM give a uniformity to all the store so that the control technique used for one store will be useful to each store. 4. Finding a way for optimal utilization of BAY/RACK/SELF. In BIGBAZAAR the selling area is generally its RACK/SELF but in industry it is called as BAY and according to the current trend each BAY has its own Price and Value. As the more visible area is the costliest BAY. So the optimal use of this is very much essential. c. STATEMENT OF PROBLEM Consumer preference is defined as the subjective tastes of individual consumers, measured by their satisfaction with those items after they have purchased them. This satisfaction is often referred to as utility. Consumer value can be determined by how consumer utility compares between different items.
  • 13. 6 Consumer preferences can be measured by their satisfaction with a specific item, compared to the opportunity cost of that item since whenever you buy one item, you forfeit the opportunity to buy a competing item. The preferences of individual consumers are not contained within the field of economics. These preferences are dictated by personal taste, culture, education and many other factors such as social pressure from friends and neighbours. For example, someone who prefers to own a specific brand of a smartphone because his/her friends all have the same brand. People often prefer some aspects of a product, but not others. When comparing sofas, the colour, fabric and size of the sofas can each have an impact on consumer preference, as well as the number of extra cushions they have. Not all of these aspects carry the same weight. When comparing two restaurants, for example, you may prefer the food and the ambiance of one over the other, but having a rude waiter at one restaurant may cause you to prefer the other restaurant overall. While consumer preference is an indicator of consumer demand, it’s important to note that consumer choices are not always determined by preference alone. Choices are often limited by a consumer’s income or budget, compared to the cost of the item, which is why so few people drive luxury cars or fly first-class. Similarly, in BIG BAZAAR there is a perfect blend of product mix and brand mix which denotes that in a product category or section there a number of brands are there. Generally, in a section there is a pattern on brand mix that are some of International Brands, some of National Brands, Home Brands and finally Local Brands which directly targets every footfall in the retail store. But here it needs to know the consumer preference to enhance the quality of sale it provides, as every DNA has its own preference and choice. Knowing the consumer preference is the most challenging job for any marketer, as it is dynamic in nature. Stores like BIGBAZAAR who is facing a n’ number of customers on daily basis must need to know the brand preference which will help in better product mix, optimum utilization of BAY, update the MPM time to time to cope-up with the emerging trend.
  • 14. 7 d. SCOPE OF THE STUDY The inferences from the study are based on the responses given by the customers in a specific area. This study is helpful in getting insights on shopping habits and preferences of middle and higher socio-economic group of customers. Because consumer preference determines what products people will buy within their budget, understanding consumer preference will give you an indication of consumer demand. This information will help to ensure that you have enough product to meet demand. This also helps in decision making about product line alignment, product depth alignment, reducing the damage and expiry, better scope for new and trend products in the market. It will help in improving the home product and getting the more and more pie of the oval. Some of the important points are as follows: • Understanding Consumer Preference: BIGBAZAAR is the largest retail chain in India and it has a large customer base across the PAN India and each of them react differently to each products or brands differently. So, in order to create a healthy customer relationship, it need to know the brand preference of each and the most preferred brand among them to place the brand in respective location for better productivity. • Better Product Mix: Better product mix means the perfect mixture of relevant brand for a certain location according to their brand preference of consumer so that the productive and sale growth will be higher and the customer relationship will be maintained. • In-store Brand Awareness: When BIGBAZAAR know that consumer preference of all type of customer than it can identify the customer who are less aware of the in-store brand and take corrective steps for its brand promotion.
  • 15. 8 e. LIMITATION OF THE STUDY 1. Confined to only one retail store and a single geographical location. The study is confined to a single retail store of BIGBAZAAR i.e. Esplande – 1, Bhubaneswar, Odisha where, if the study will be in more than one store the result may differ and many other Interesting facts may come out. Similarly, the geographical location is also confined to BHUBANESWAR only and the data are collected within it. If the data are being collected from different geographical location than the output or preference may differ. 2. Lack of Brand awareness with respect to in-store brand. While interacting with the customer it is being observed that many of the customer are not aware of in-store band and that creates biasness of consumer towards a certain product. 3. Consumer might be biased while answering. A few of the findings may be deviating towards retail stores present in the mall at the time of survey as the survey was carried out in the premises of the mall. It may not fully reflect the habits and preferences of customers as the responses of the participants of the survey might be biased.
  • 16. 9 B. RESEARCH METHODOLOGY a. WHAT IS RESEARCH? “It is organised systematic data-based scientific inquiry, or investigation into a specific problem under taken with the purpose of finding answers or solutions to it.” b. DATA COLLECTION • Sales Data Analysis: In this stage the last quarter sales data of the store were being collected and with the help of pivot tabulation in MS-Excel category wise and SKU wise sales figure are being collected and from each eligible category 7 brands are selected for the Questionnaire design. • Close Ended Questionnaire with Ranking: Here an organised closed ended set of question are being prepared for the customer for getting their feedback. And the ranking method of questionnaire are being adopted. • Personal Interview to the walk-in-customer: I personally and with the help my pears in the store personally interviewed the walk-in-customers and got the relative feedback from them. c. SOURCES OF DATA Primary Sources: Data are collected directly from the customer with the help of an organised close ended questionnaires. The data given by the customer as feedback with a 7 scale of Comparative Ranking Technique. Secondary Sources: Data are also collected from secondary sources like Organisation website, Organisation Database and their expert advice.
  • 17. 10 d. ANALYSIS TECHNIQUE • Frequency Tabulation of Customer preference Ranks: Here in frequency tabulation the sum count of rank put but by the respondent are collected and after that by the help of reverse ranking method the sum product of each are calculated. Then based on their sum product total ranking has been given in ascending order using MS-Excel. • Frequency Tabulation of Factor Ranks: In factor tabulation demographic factors like Price, Brand Loyalty, Utility, Promotions, Offers, Packaging and salesman approach are collected and against that the rank provided by the respondent are sum counted, then converted into percentage and being tabulated using MS-Excel. e. SAMPLING • Sample Size • 56 x 14 = 784 no’s In this study questionnaire is divided in to 14 categories and from each category 56 samples are collected. As it is the least number among the all 14 categories. • Sampling Techniques: • Random Sampling: Samples are taken randomly to the walk-in customer and interviewed personally.
  • 18. 11 C. PROFILE OF THE ORGANISATION Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics. Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square feet of retail space in 71 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail. A first-generation entrepreneur, Kishore Biyani started his journey selling stone-wash denim fabric in Mumbai in the 1980s. His dream was of making available to everyone what only the rich could afford. Soon, he would launch his own brands, retail networks and invest heavily in creating the country’s leading consumption ecosystem. During this journey he also invested and mentored many other entrepreneurs and brands. He
  • 19. 12 embodies the organisation’s credo, ’Rewrite Rules, Retain Values’ and considers Indianness as the core value driving the organisation. Future group is an Indian conglomerate headquartered in Mumbai, Maharashtra, India. The company is known for having a significant prominence in Indian retail and fashion sectors, with popular supermarket chains like Big Bazaar and Food Bazaar, lifestyle stores like Brand Factory, Central etc. The group also has a notable presence in integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited, two operating companies of Future Group, are among the top retail companies listed in BSE with respect to assets, and in NSE with respect to market capitalization. On May 2012, Future Group announced a 50.1% stake sale of its fashion chain Pantaloons to Aditya Birla Group in order to reduce its debt of around ₹80 billion (US$1.2 billion). To do so, Pantaloons fashion segment was demerged from Pantaloons Retail India Ltd; the latter was then merged into another subsidiary—Future Value Retail Ltd—and rechristened Future Retail Ltd. Future Group is a corporate group and nearly all of its businesses are managed through its various operating companies based on the target sectors. For e.g., retail supermarket/hypermarket chains Big Bazaar, FBB, Food Bazaar, Food Hall, Hometown etc. are operated by its retail division, Future Retail Limited, while its fashion and clothing outlets Brand Factory, Central, and Planet Sports are operated via another of its subsidiaries, Future Lifestyle Fashions Limited. With these many fashion outlets and supermarkets, the group also promotes its fashion and sports brands like Indigo Nation, Spalding, Lombard, Bare etc., and FMCGs like Tasty Treat, Fresh & Pure, Clean Mate, Ektaa, Premium Harvest, Sach etc. It also has operating companies to cater specifically to internal financial matters and consulting within its group of companies. On November 21, 2014, Future Consumer Enterprises Limited. acquired the 98% from Actis Capital and other promoters. With that, Nilgiris is a fully owned subsidiary of Future Consumer Enterprises Limited (FCEL). In 2008, Big Bazaar opened its 100th store, marking the fastest ever organic expansion of a hypermarket. The first set of Big Bazaar stores opened in 2001 in Kolkata, Hyderabad and Bangalore. The group’s specialty retail formats include, books and
  • 20. 13 music chain, Depot, sportswear retailer, Planet Sports, electronics retailer, Ezone, home improvement chain, Home Town and rural retail chain, Aadhar, among others. It also operates popular shopping portal, futurebazaar.com. The group’s flagship company, Pantaloon Retail was awarded the International Retailer of the Year 2007, by the US-based National Retail Federation, the largest retail trade association and the Emerging Market Retailer of the Year 2007 at the World Retail Congress in Barcelona. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of ‘Indianness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values. FUTURE GROUP'S OPERATING COMPANIES SORTED BY TARGETED MARKETS RETAIL ➢ FUTURE RETAIL LTD Future Retail operates some of India’s most popular retail chains that inspires trust through innovative offerings, quality products and affordable prices that help customers achieve a better quality of life every day. We serve millions of customers in more than 400 cities in every state of the country through digital platforms and over 2000 stores that cover over 16 million square feet of retail space. ➢ FUTURE LIFESTYLE FASHION LTD Future Lifestyle Fashions (FLF) is the flagship fashion business of Future Group. At FLF, we operate more than 300 stores in 90+ cities, occupying 5.7 Mn sq. ft of retail space. We own and market leading brands, through our in- house retail chains Central and Brand Factory, exclusive brand outlets (EBOs) and other multi-brand outlets (MBOs). From design to distribution, we are present in every segment of India’s fashion industry.
  • 21. 14 ➢ FUTURE CONSUMER LIMITED Future Consumer Limited (Formerly known as Future Consumer Enterprise Limited) (FCL), India’s first sourcing-to-supermarket food company by Future Group is built on the virtue of sharing. Starting from the seeding of food at the farm to its consumption from the plate, FCL acts as a catalyst for each of its stakeholders. From sourcing, processing, retailing to final act of consumption – FCL strikes a widespread chord between the lives of the farmer, a factory labourer, a worker on the shop floor and the housewife. Food means sharing in India. It starts at the farms where neighbours, kith and kin join hands in tilling, sowing and harvesting of crops. Women come together to further process and prepare food. Recipes are passed down as heirlooms, shared by friends and neighbours and now on television by celebrity chefs. Under FCL’s spectrum, the company sources best quality commodities from world over, comprises of extensive portfolio of established brands in food and HPC space, builds urban convenience store for key metros and cash-n-carry rural distribution models for other cities across India. ➢ FUTURE ENTERPRISES LIMITED Future Group, with its companies, has impacted lives across all sections, industries and regions. As India’s leading retailer, the Group has been bringing quality service, exciting offerings and a myriad range of products to its customers. Connecting diverse communities and cultures together has been the focus area of the Group. While Future Retail Limited caters to the front end with its multiple formats, forming the backbone and linking the retail arm with its infrastructure is Future Enterprises Limited (FEL). FEL develops, owns and leases the retail infrastructure for the Group. The company also holds the Group’s investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics. While Future Supply Chains manages the logistics- from warehousing, storage to distribution of raw materials and products, Future Generali- a JV with the globally known Generali Group, offers financial security solutions like savings, insurance and policies to its customers.
  • 22. 15 ➢ FOODHALL Future Group wanted to bring home the flavours from around the world to create a space that every food lover would enjoy. A place that allows you to not only buy unique, rare ingredients but also taste fresh food as you explore the store – indulging all five senses. This need for a buzzing and inspiring space was left unfulfilled. So, in 2011, Future Group launched Foodhall, a premium lifestyle food superstore. Currently Foodhall has six stores present in Mumbai, Bengaluru, New Delhi and Gurgaon. FINANCIAL SERVICES ➢ FUTURE GENERALI TOTAL INSURANCE SOLUTATION 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) A leading investment company. At Future Generali India Life Insurance Company Limited, our mission is to actively protect and enhance peoples’ lives. With operations spread across 104 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. OTHER SERVICES ➢ FUTURE INNOVERSITY Future Innoversity was established in 2009 as a specialized institute for students who want to make a career in sector specific management roles. Its flagship programme in retail, is well established and equips students with all facets of the retail industry. Future Innoversity has entered into a strategic arrangement with Indira Gandhi National Open University (IGNOU) to offer Retail MBA, BBA Retail Services and MBA SCM. All post graduate and under-graduate programmes offered by IGNOU are approved by the Association of Indian Universities (AIU) and the University Grants Commission (UGC).
  • 23. 16 ➢ FUTURE SUPPLY CHAINS It is one of India’s largest organised third-party supply chain and logistics service provider. It offers automated and IT-enabled warehousing, distribution and other logistics solutions to a wide range of customers. It’s service offerings, warehousing structure, pan-India distribution network, “hub-and-spoke” transportation model and automated technology systems support our competitive market position. Our customers operate in various sectors across India, including retail, fashion and apparel, automotive and engineering, food and beverage, fast-moving consumer goods (FMCG), e-commerce, healthcare, electronics and technology, home and furniture and ATMs. FUTURE GROUP MANIFESTO: “Future” – the word which signifies optimism, growth, achievement, strength, beauty, rewards and perfection. Future encourages us to explore areas yet unexplored, write rules yet unwritten; create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and re-learn our ability to evolve. We, in Future Group, will not wait for the Future to unfold itself but create future scenarios in the consumer space and facilitate consumption because consumption is development. Thereby, we will affect socio-economic development for our customers, employees, shareholders, associates and partners. Our customers will not just get what they need, but also get them where, how and when they need. We will not just post satisfactory results, we will write success stories. We will not just operate efficiently in the Indian economy; we will evolve it. We will not just spot trends; we will set trends by marrying our understanding of the Indian consumer to their needs of tomorrow It is this understanding that has helped us succeed. And it is this that will help us succeed in the Future. We shall keep relearning. And in this process, do just one thing. GROUP VISION Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner.
  • 24. 17 GROUP MISSION ➢ We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. ➢ We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments - for classes and for masses. ➢ We shall infuse Indian brands with confidence and renewed ambition. ➢ We shall be efficient, cost- conscious and committed to quality in whatever we do. ➢ We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful. There are some core Indian values which Kishore Biyani ji follows in all his business and his retail outlets which are as follows: ➢ Indianness: confidence in ourselves. ➢ Leadership: to be a leader, both in thought and business. ➢ Respect & Humility: to respect every individual and be humble in our conduct. ➢ Introspection: leading to purposeful thinking. ➢ Openness: to be open and receptive to new ideas, knowledge and information. ➢ Valuing and Nurturing Relationships: to build long term relationships. ➢ Simplicity & Positivity: Simplicity and positivity in our thought, business and action. ➢ Adaptability: to be flexible and adaptable, to meet challenges. ➢ Flow: to respect and understand the universal laws of nature.
  • 25. 18 COMMITTEE OF DIRECTORS Audit Committee Name of the Member Position Held Category Ms. Gagan Singh Chairperson Independent Director Mr. Ravindra Dhariwal Member Independent Director Ms. Sridevi Badiga Member Independent Director Mr. Rakesh Biyani Member Joint Managing Director Stakeholders Relationship Committee Name of the Member Position Held Category Mr. Shailendra Bhandari Chairman Independent Director Ms. Gagan Singh Member Independent Director Mr. Rahul Garg Member Non-Executive Director Nomination & Remuneration Committee Name of the Member Position Held Category Mr. Ravindra Dhariwal Chairman Independent Director Mr. Shailendra Bhandari Member Independent Director Mr. Rahul Garg Member Non Executive Director Corporate Social Responsibility Committee Name of the Member Position Held Category Mr. Kishore Biyani Chairman Managing Director Ms. Gagan Singh Member Independent Director Mr. Rahul Garg Member Non Executive Director
  • 26. 19 Big Bazaar is an Indian retail chain of hypermarkets, discount department stores, and grocery stores. The retail chain was founded by Kishore Biyani under his parent organisation Future Group, which is known for having a significant prominence in Indian retail and fashion sectors. Big Bazaar is also the parent chain of Food Bazaar, Fashion at Big Bazaar (abbreviated as fbb) and eZone where at locations it houses all under one roof, while it is sister chain of retail outlets like Brand Factory, Home Town, Central, eZone, etc. Founded in 2001, Big Bazaar is one of the oldest and largest hypermarkets chains of India, housing about 250+ stores in over 144 cities and towns across the country. Big Bazaar was founded in 2001 by Kishore, the founder and chief executive officer (CEO) of the parent company, the Future Group. Indian actress Asin and the former Captain of Indian cricket team, Mahendra Singh Dhoni have previously endorsed for the fashion vertical of Big Bazaar. The first store opened in Kolkata and was followed by stores in Hyderabad and Bangalore in a short span of 22 days. These stores contributed over Rs 43 crore to the company’s turnover. In the mean while Big Bazaar continued to expand in the larger cities like Agra, Allahabad, Coimbatore, Surat, Panipat, Kanpur and Kolhapur. “JO BAZAAR MEIN MILTA HAI WHO SAB YAHAAN MILTA HAI” is how Rakesh Biyani describes Big Bazaar the ‘bazaar’ is a term commonly used for the market. Whenever any of us need anything. The simplest way to get it is to go to the bazaar. Big Bazaar represents a location where a customer can shop for anything that he needs, for which he would normally visit a bazaar or the market. The head quarter of Big Bazaar is at Mumbai. 36000 employees are working in Big Bazaar. Big Bazaar was launched in September, 2001 with the opening of its first four stores in Kolkata, Indore, Bangalore and Hyderabad in 22 days. Within a span
  • 27. 20 of nineteen years, there are now 250+ Big Bazaar stores in 144 cities and towns across India. Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of Pantaloon Retail Ltd. Though Big Bazaar was launched purely as a fashion format including apparel, cosmetics, accessory and general merchandise, over the years Big Bazaar has included a wide range of products and service offerings under their retail chain. The current formats include Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar. The inspiration behind this entire retail format was from Sarvana stores, a local store in T. Nagar, Chennai. The stores are customized to provide the feel of mandis and melas while offering the modern retail features like Quality, Choice and Convenience. As the modern Indian family's favourite retail store, Big Bazaar is popularly known as the "Indian Wal-Mart". On successful completion of ten years in Indian retail industry, in 2011, Big Bazaar has come up a new logo with a new tag line: ‘Naye India Ka Bazaar’, replacing the earlier one: 'Isse Sasta Aur Accha Kahin Nahin'. And now it is “Making India Beautiful”. OWNERSHIP PATTERN Future Retail Limited is a wholly owned subsidiary of Pantaloon Retail (India) Limited. This entity has been created keeping in mind the growth and the current size of the company’s value retail business, led by its format divisions, Big Bazaar and Food Bazaar. Big Bazaar, a part of the future Group, is a hypermarket offering a huge array of Goods of good quality for all at affordable prices. Big Bazaar with over 250+ outlets in a different part of India is present in both the metro cities as well as in the small towns. Big Bazaar has no doubt made a big name in the retail industry of India, moreover Shopping here is further made a memorable experience with the varied rates of discounts on products as well as discount vouchers available in a variety of amounts, like INR 2000, INR 3000, INR 4000, INR 5000 and INR 10000 on all Big Bazaar products and Accessories.
  • 28. 21 ORGANISATION STRUCTURE The organisational structure for BIGBAZAAR is flat in nature. Store Manager Big Bazaar Store Asst. Store Manager Sales HR CSD VM Administration Warehouse Cash Food Bazaar G M FBB DM ADM TL TM HR Manger D M CSD TL Loyalty TL VM Manager Supervisor Security Cash Manager Safety House keeping TL Supervisor Head Cashier TM DM ADM TL TM
  • 29. 22 ORGANISATIONAL DEPARTMENT: STORE MANAGER Basically, Store Karta is known as Store Manager. Because Kishore Biyani strictly follows Indian culture so it is called as Store Karta. This is the highest position in the store. He is the father and head of the family. He is the decision maker for the store. The store manager is the responsible for both the top line responsibility is sales and the bottom-line responsibility is profit. Role of Store Karta involves: ➢ Ensuring smooth operations of the store. ➢ Making plans to ensure highest profit for the store. ➢ Proper execution of plans. ➢ Deciding on offer/deals for clearance of products. ➢ Conducting meeting for proper communication flow. ASSISTANT STORE MANAGER There are three ASK’s in the store. Each ASK looks after 1 to 2 department of the store. The main function of the ASK is to assist the SK in his targets and help achieve him the same. Basically, there will be only one ASK in case of family centre and if it is a store only then depending on the size of the store there will be ASK. In Big Bazaar, Ameerpet there is only one Assistant Store Karta. SALES DEPARTMENT Sales department is the most important department in the Organization as it is the revenue generator for the organisation. This department is responsible for end to end sales process. In this department, the department is headed by DEPERTMENT MANAGER and he is responsible for all the team management process. In this team the DM is supported by ADM (Asst. Department Manger), TL (Team Leader) and TM (Team Member). This department is basically divided into three that are FOODBAZAAR, FASHION BIGBAZAAR And GENERAL MERCHINDISING section. Each section has its own team and separate responsibility. FOODBAZAAR contains all type of food items and FMCG product, FBB contains all garments and shoes and GM section contains all FMCD products.
  • 30. 23 HR DEPARTMENT HR department is another most important department and this department is totally responsible for HUMAN RESOURCES. Its basic function is started from job requirement, onboarding, training, compensating, motivating and separation process. Generally, in each store there is one HR MANAGER/ PEOPLE OFFICER are appointed to do the above job. And they are operated directly from SHQ (State Head Quarter). CSD DEPARTMENT CSD or Customer Service Development Department are responsible for handling query of customer, enhancing customer value, regular communication with the customer, and for internal communication in business hour with floor staff and other staffs. In this department the head of the department is DEPARTMENT MANAGER and get assisted by CSD TL and LOYALTY TL. VISUAL MERCHANDISING DEPARTMENT VM department or visual merchandising department is held responsible for the overall IN-SHOP BRANDING, Merchandising. Which means they help in the promotion and advertisement of the in-shop brands to communicate with customer and enhance the brand awareness. ADMINISTRATION DEPARTMENT This department is totally for admin purpose and divided in three major sub- departments i.e. SAFETY, HOUSE KEEPING and SECURITY. Safety department is responsible for the safety measure of the stores as it is an artificial structure and there is chance of casualty. House Keeping department is responsible for sanitation of the total area of operation. And Security is responsible for the prevention of theft and loss of the valuable goods and commodities. These three department is headed by three individual supervisor and the team members of each department help them in day to day operation.
  • 31. 24 WAREHOUSE DEPARTMENT This department’s job is to receive the goods, manage the goods, maintain the proper stock quantity and ensure freshness of the stock. This department is headed by DM and assist by ADM, TL and TM. CASH DEPARTMENT This department is meant for the cash handling purpose. The items sold in the store are billed through organisation POS system and an electronic functioned cash box is maintained to reduces the error level. This department is headed by CASH MANAGER and assist by TL, Supervisor, Head Cashier and Team Members.
  • 32. 25 RETAIL OPERATION: Retail operation involves managing the day to day function of retail establishment. Retail operation professionals manage retail establishment on a daily basis and are responsible for maximizing store profits for the regions and for the geographic. In retail operation there are some important departments in Big Bazaar: ➢ Sales department ➢ HR department ➢ Visual Merchandising department ➢ Warehouse & Logistics department ➢ CSD department ➢ CASH or Finance department ➢ Administration department According to Rakesh Biyani Retail Operation means Store operation resources, daily procedures, creating internal controls and systems, establishing retailing functions and other day-to-day retail store operations. RETAIL STORE OPERATION: PROPERTY terms of BIG BAZAAR, ESPLANDE ONE, BHUBANESWAR Carpet area – 27658 Sq. Ft (includes parking, back office, stock office and warehouse) PI LABEL UP-DATION Price Indicator for new SKU and price changes for existing SKU’s should be given twice 8.30 am and 3.30 p.m. The IT department will do the price updating on the system and generate PI labels. POP UP-DATION Promotion Indicator for new Promotions and Offer changes for existing SKU’s should be given twice 9.30a.m and 4.30p.m. The marketing department will do the POP Printing and hand over the floor team. BHUBANESWAR
  • 33. 26 FLOOR READY TO OPERATE The Store Operations Manager takes care of the floor which will be ready by 10.00 am to customers where all the stacking & Cleaning and system are updated and ready to sell. And before the store opens the Operations manager or the Floor Managers takes Briefing to their staff and explains the promotions & targets. DISPLAY POLICY ➢ To prevent gaps in the shelf that are not pleasing visually, the SKU on the right- hand side must be extended across the facings of the SKU, which are out of stocks. ➢ Shelf merchandising policy from left to right – “Lowest to the Highest”, “Smaller packs at the top and bigger packs at the bottom”. SPACING PLANNING It helps a retailer determine the amount of space available for selling and for storage. It also helps determine the following ➢ The location of various departments ➢ The location of various products within the department ➢ The specific location for impulse products, destination areas, seasonal products with specific merchandising needs etc. CONCESSIONAIRES These are the vendors who are given exclusive right to sell a particular product in areas inside/outside the store. The terms and conditions for setting up a concessionaire can be either on a Minimum Guarantee or the margin contribution on the amount of sale. MERCHANDISING Providing customers, the derived quantity of Goods in a fair assortment, conveniently located in the store with visual appealing display. Some important things should be kept in mind while taking up merchandising: ➢ Vendor/source identification Criteria for selecting the Vendor Reliability, Credit terms, Lead time for supply, price, quantity, Service history, physical infrastructure, Market credibility, Long time relationship, Statutory compliances and more product range.
  • 34. 27 ➢ Negotiation • Cost price at which customer purchase • M.R.P. marked price at which SKU is sold • Trade Discount Extra margin given for a specific purpose either in monetary terms or through free products • Seasonal Discount given during OFF season • Promotional Allowances given by the company to conduct a promotion. ➢ Pricing • CSP consumer selling price always below M.R.P • CSP for MRP fixed should follow • Killer SKU’s – 5% • Profit Generation - 2% • RSP Retailer selling price is less than the MRP and CSP ➢ PO (Purchase Order) • Manual (requirement signed by the replenishment officer) or auto (modify up to 50% on either side). • ARS – Auto Replenishment system through SAP • PO has expiry date and delivery date • All the discounts, taxes, freight etc., have to be included in PO. WAREHOUSE Warehouse procedures at Bhubaneswar hyper are systematic and run through electronic data processing. Warehouse manager takes care of all the activities at warehouse, followed by supervisor who is responsible for the operations of warehouse. The activities of warehouse start with receiving goods, bar-coding, damage and expiry, repacking and last but not the least transfers and system entries. The warehouses of BHUBANESWAR Hyper plays a dual role as a warehouse to the hyper store, which is adjacent to the warehouse and as a distribution centre for the small store’s in Bhubaneswar. Warehouse has the following functions:
  • 35. 28 RECEIVING The receiving process has an important role to play in the warehouse. The receiving process starts with raising a PO, verifying the Invoice, receiving goods from the vendor, cross checking the stock with the PO raised and Invoice. Receiving Process Merchandiser PO Vendor Invoice Security Pass in Slip Receiving Area While receiving the goods, the supervisor has to keep in mind the 5 parameters to check the stock ➢ Physical Counting ➢ MRP ➢ Expiry Date ➢ Visual Quality Check ➢ EAN (European article number) code which is 13 digits. Once the goods are received, GRN (goods received note) has to be prepared for the PO and Invoice rose. If at all there is any difference in the value generated by the GRN either because of difference between the invoice and PO, a note called VDN (value discrepancy notes) is automatically generated. The number of SKU’s limited to PO and Invoice are 20. The GRN generated, PO, Invoice along with any VDN has to be authorized by the buyer and the warehouse manager. The original is sent to the Head Office and a duplicate is filed in the warehouse for future reference. The stock is not allowed into the store if the GRN is pending.
  • 36. 29 BAR-CODING Bar-coding is generally done if any of these following cases arises: ➢ For the unbranded goods i.e. staples and F+V ➢ When there are multiple EAN’s for ISKU ➢ When there are multiple SKU’s with one EAN Code ➢ If there is a mismatch between EAN code on the product and earn in PO. One has to be very careful w.r.t EAN and SKU code. There should always be a match EAN=SKU. DAMAGE AND EXPIRY This division takes care of those goods which are damaged and expired as on date. The primary activity of this division is that it has to verify and return the goods to the vendor which are damaged and expired. For the goods which are returned back to the vendor should carry a Statement called NRGP (non-returnable gate pass). NRGP is made on the goods which are sent back to the vendor permanently. It is an issue. For F+V, in cases when the vendor does not accept NRGP, DAD (Disposal authority docket) which is manual has to be prepared before dumping the damaged stock, that has to be authorized by the business head, loss prevention manager, warehouse manager, buyer and security. For DAD and SV, the value should be entered negative value. ➢ SV is the system statement of DAD.SV is done for both branded and unbranded. NRGP is made for the goods which are going out of the warehouse for a purpose may be for repairing, repacking etc., and is assumed to return back to the store once the purpose is fulfilled. Unlike NRGP, this is considered as a temporary gate pass. The number of days limited to RGP is 7 days. ➢ GRWH (Goods returned to warehouse) is a note which depicts the no of goods that are returned to the warehouse from the store, promotional item, return on price problem, damaged basket, damaged trolley etc. A code is assigned for the reason of return of goods to the warehouse Eg.CC return on quality problem.
  • 37. 30 REPACKING This is a division in warehouse where the GRWH items under Unbranded may go for Repacking, after which they are again sent back to the store by raising a TO. The weight loss for the staples is treated as Process Loss. TRANSFERS There are two types of transfers that are raised by the warehouse ➢ Transfer out: when the stock is sent to the store, branded, non-branded, bulk staple, Institution sale, export, re-packers etc. from the distribution centre. It is an ISSUE. ➢ Transfer in: This document is prepared when the warehouse receives the goods. TI is made in the times of damaged goods sent to the warehouse from the store. It is a RECEIPT. The TO and TI are raised in the store; for which the TO of warehouse or DC is a TI for Store and TI for warehouse is a TO for store. SCRAP The cartons and the waste material are sold as scrap to the outsiders at a fixed rate per KG. STOCK CHECKING Tallying the physical stocks along with the book stocks are called as stock check. Stock check is very much essential to identify the unknown losses / thefts / documentation errors of the inventory. Unless we tally the stocks periodically, we will not be able to identify the actual stock position and stock levels. The stock check will have a direct impact on the working capital. Stock check will highlight the crucial issues like documentation issues etc. Commercial will be correcting such documentation issues and account for the losses like pilferage and conversion losses etc which in turn makes the working capital much realistic. There is a schedule for the stock checks followed by the commercial team.
  • 38. 31 D. FINDINGS AND ANALYSIS DATA ANALYSIS First of all, sale report of a quarter (MAR-MAY 2019) is being collected SKU wise and pivoted as Brand Wise and Category Wise. Process: Sales RAW data > MS Excel Pivot table > Brand Wise Segregation > Category Wise Segregation. Then, the segregated Categorised data are arranged in descending order based on their individual brand sale value and top Seven Brand is taken as consideration for Questioners design. For Example; And this is done for all the 14 selected categories. And the samples are collected. After the samples are being collected the data are inputted in MS-EXCEL and the frequency table is being prepared using the formula “Count If “. And with help of Reverse Ranking Technique Sum product is being calculated and finally the result is Ranked using the function “Rank” and presented graphically. BISCUITS AND COOKIES 1789635.07 BRITANNIA 560056.06 PARLE 371743.6 TASTY TRAET 230454.19 SUNFEAST 187642.14 BISK FARM 148040.27 MC VITIES 103844.66 CADBURY 92246.12 DUKES 46139.95 UNIBIC 44392.23 PATANJALI 5075.85 Seven Brand of Biscuits and Cookies Category
  • 39. 32 Figure: - 1.1 (Frequency Table of Category – ATTA) Figure: - 1.2 (Bar Chart of Category – ATTA) 368 270 248 170 199 155 158 0 50 100 150 200 250 300 350 400 AASHIRVAAD 24 MANTRA GOLDEN HARVEST KOSH PATANJALI RISHTA THE GREEN EARTH ATTA Inference of Category ATTA From the data it is found that AASHIRVAAD is most preferred brand followed by 24 mantra, the home product in this segment GH and KOSH got the rank 3 and 5 respectively.
  • 40. 33 Figure: - 2.1 (Frequency Table of Category – Biscuit & Cookies) Figure: - 2.2 (Bar Chart of Category – Biscuit & Cookies) 339 318 215 194 178 157 165 0 50 100 150 200 250 300 350 400 BRITANIA PARLE TASTY TREAT SUNFEAST BISK FARM MC VITIES CADBURY BISCUIT & COOKIES Inference of Category Biscuit & Cookies From the data it is found that BRITANIA is most preferred brand in this segment followed by PARLE the home product in this segment TASTY TREAT got the rank 3 and MC VITIES got the least preferred brand.
  • 41. 34 Figure: - 3.1 (Frequency Table of Category –Ghee) Figure: - 3.2 (Bar Chart of Category – Ghee) Inference of Category Ghee From the data it is found that Amul is most preferred brand in this segment followed by FRESH & PURE: the home product in this segment. Gowardhan ghee is ranked as the least preferred brand in this segment. 280 300 176 163 192 174 171 0 50 100 150 200 250 300 350 FRESH & PURE AMUL ANIK GOWARDHAN PATANJALI DEVI DURGA GHEE
  • 42. 35 Figure: -4.1 (Frequency Table of Category –Home Care) Figure: - 4.2 (Bar Chart of Category – Home Care) Inference of Category Home Care From the data it is found that CARE MATE is most preferred brand followed by HARPIC. Here the home product has a market dominance in this segment because of its attracting offer (1+1offer). PRIL and GIFFY are ranked as the least preferred brand. 339 318 215 194 178 157 165 0 50 100 150 200 250 300 350 400 CARE MATE HARPIC MR. MUSCLE NIMYLE COLIN PRIL GIFFY HOME CARE
  • 43. 36 Figure: -5.1 (Frequency Table of Category –Noodles) Figure: -5.2 (Bar Chart of Category –Noodles) Inference of Category Noodles From the data it is found that MAGGI is most preferred brand followed by YIPPEE, the home product in this segment TASTY TREAT got the rank 6th .The main reason behind this is the brand loyalty is high in this segment. 346 304 205 193 148 140 141 0 50 100 150 200 250 300 350 400 MAGGI YIPPEE TOP RAMAN PRIME KOKA WAI WAI TASTY TREAT NOODLES
  • 44. 37 Figure: -6.1 (Frequency Table of Category –Spices) Figure: -6.2 (Bar Chart of Category –Spices) Inference of Category Spices From the data it is found that EVEREST is most preferred brand followed by GOLDEN HARVEST, the home product in this segment. The main reason behind this is the wide range of Whole Spices in this segment. Another home brand SK (Premium Product) got the least position in this segment. 301 316 262 218 179 146 146 0 50 100 150 200 250 300 350 GOLDEN HARVEST EVEREST CATCH RUCHI MDH GRIHASTI SANGI'S KITCHEN SPICES
  • 45. 38 Figure: -7.1 (Frequency Table of Category – Sauce & Spreads) Figure: -7.1 (Bar Chart of Category –Sauce & Spreads) Inference of Category Sauce & Spreads From the data it is found that KISSAN is most preferred brand followed by MAGGI, the home product in this segment TASTY TREAT and SK got the rank 3 and 5 respectively. 354 287 240 193 213 150 139 0 50 100 150 200 250 300 350 400 KISSAN MAGGI TASTY TREAT SANGI'S KITCHEN PRIME FUNFOOD WEIKFIELD SAUCE & SPREADS
  • 46. 39 Figure: -8.1 (Frequency Table of Category –Edible Oil) Figure: -8.2 (Bar Chart of Category – Edible Oil) Inference of Category Edible Oil From the data it is found that FORTUNE is most preferred brand followed by FRESH & PURE, the home product in this segment. The main reason behind this is the PRICE it provides through FUTURE PAY which is more pocket friendly than others. Another home brand KARMIQ (Premium Product) got the least position in this segment. 299 326 222 222 168 159 144 0 50 100 150 200 250 300 350 FRESH & PURE FORTUNE DHARA SAFFOLA OLEEV SUNDROP KARMIQ EDIBLE OIL
  • 47. 40 Figure: -9.1 (Frequency Tablet of Category – Tea) Figure: -9.2 (Bar Chart of Category – Tea) Inference of Category Tea From the data it is found that TATA TEA is most preferred brand in this segment followed by RED LEBEL. The home product in this segment FRESH & PURE got the rank 3 and TWININGS got the least preferred brand. 351 286 215 197 148 163 124 0 50 100 150 200 250 300 350 400 TATA TEA RED LEBEL FRESH & PURE MARVEL ORGANIC IND AGNI TWININGS TEA
  • 48. 41 Figure: -10.1 (Frequency Table of Category – Snacks) Figure: -10.2 (Bar Chart of Category – Snacks) Inference of Category Snacks From the data it is found that HALDIRAM is most preferred brand in this segment followed by TASTY TREAT the home product in this segment. CORNITOS is ranked as the least preferred brand in this segment. 309 333 222 192 186 179 175 0 50 100 150 200 250 300 350 TASTY TREAT HALDIRAM ACT II TOO YUMMY PRABHUJI BINGO CORNITOS SNACKS
  • 49. 42 Figure: -11.1 (Frequency Table of Category – Pickle) Figure: -11.2 (Bar Chart of Category – Pickle) Inference of Category Pickle From the data it is found that MOTHER’S is most preferred brand in this segment followed by NILON’S. The home product in this segment TASTY TREAT got the rank 4 and PRIYA ranked with the least preferred brand. 254 193 149 110 134 0 50 100 150 200 250 300 MOTHER'S NILON'S PRIME PRIYA TASTY TREAT PICKLE
  • 50. 43 Figure: -12.1 (Frequency Table of Category – Papad) Figure: -12.2 (Bar Chart of Category – Papad) Inference of Category Papad From the data it is found that DNV is most preferred brand in this segment followed by GANESH (LOCAL). The home product in this segment TASTY TREAT ranked 5th position which is least in this segment. 302 301 297 228 222 0 50 100 150 200 250 300 350 DNV GANESH MOTHER'S ROZANA TASTY TREAT PAPAD
  • 51. 44 Figure: -13.1 (Frequency Table of Category – Baked Food) Figure: -13.2 (Bar Chart of Category – Baked Food) Inference of Category Baked Food From the data it is found that MIO AMORE is most preferred brand in this segment followed by TASTY TREAT the home product. In this segment BAKERSTREET ranked as the least preferred brand. 339 318 215 194 178 157 165 0 50 100 150 200 250 300 350 400 MIO AMORE TASTY TRAET BRITANIA PILLSBURY BAULI BAKERSTREET MONGINIS BAKED FOOD
  • 52. 45 Figure: -14.1 (Frequency Table of Category – Coffee) Figure: -14.2 (Bar Chart of Category – Coffee) 170 115 114 73 98 0 20 40 60 80 100 120 140 160 180 BRU FRESH & PURE NESCAFE SUNRISE TATA COFFEE Inference of Category Coffee From the data it is found that BRU is most preferred brand in this segment followed by FRESH & PURE the home product. In this segment SUNRISE (Kolkata Based) ranked as the least preferred brand.
  • 53. 46 Then, the Sale Figure of Each Category Brand Wise Percentage is being Calculated across its respective Category of only In-store Product and respective ranks are given extracted from the preference analysis. Figure: -15.1 (In-Brand Sale % to its Respective Category with Preferred Rank) Based on this table the total In-store Brands are placed in GE 9 CELL Matrix. Figure: -16.1 (GE 9 CELL Matrix of In-store Brands of BIGBAZAAR) Category In-Store Brand Sale % Preferred Rank GOLDEN HARVEST 22.98 3 KOSH 1.50 5 BISCUITS AND COOKIES TASTY TREAT 12.88 3 GHEE FRESH & PURE 28.29 2 HOME CARE CLEAN MATE 19.95 1 NOODLES TASTY TREAT 1.33 6 GOLDEN HARVEST 48.92 2 SANGI'S KITCHEN 2.85 6 TASTY TREAT 3.86 3 SANGI'S KITCHEN 10.33 5 FRESH & PURE 19.31 3 KARMIQ 6.18 7 TEA FRESH & PURE 12.36 3 SNACKS TASTY TREAT 32.90 2 PICKLE TASTY TREAT 4.02 4 PAPAD TASTY TREAT 9.31 5 BAKER STREET 1.51 2 TASTY TREAT 14.02 7 COFFEE FRESH & PURE 7.17 2 ATTA SPICES SAUCES & SPREADS EDIBLE OIL BAKED FOOD Source: Self Survey
  • 54. 47 Then, the collected data of what are the factor that affect the brand choice of an individual are tabulated in MS- Excel and then Frequency Table is being made with the help of Count-if function and with the help of Reverse Ranking Technique the Sum- Product is being calculated and find out the Percentage of response for each Factors. Figure: -17.1 (Bar Chart – Factors affecting the preference of customer while selecting a brand in BIGBAZAAR) Inference The chart shows that the Price of the Brand is most common factor and it affect most of the people that is 21%, next to it Brand loyalty is 19% and Utility of the Product is 18%. And the least affected factors are Exciting Offer of the Product 11%, Attracting Packing of the product as well as Salesman’s Approach 9% both.
  • 55. 48 E. INTERPRETATION a. MAJOR FINDINGS 1. Most Preferred Brand across the Category ❖ Atta: Aashirvaad ❖ Biscuit: Britannia ❖ Baked Food: Mio Amore ❖ Coffee: Bru ❖ Ghee: Amul ❖ Spices: Everest ❖ Sauces & Spreads: Kissan ❖ Noodles: Yippee ❖ Edible Oil: Fortune ❖ Homecare: Care mate ❖ Pickle: Mother’s ❖ Papad: DNV ❖ Tea: TATA Tea ❖ Snacks: Haldiram 2. In-store Brand Vs Competition Brand Figure: -18.1 (Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand)
  • 56. 49 ❖ Atta: In ATTA category the In-store Brand GOLDEN HARVEST got the 3rd rank and KOSH got the 5th rank. And here Patanjali got the rank 4th . Which means there may be chances of customer shifting of Patanjali Brand in its absence towards GOLDEN HARVEST or KOSH because these two brands are its near competitor. ❖ Biscuit: In this category the in-store Brand TASTY TREAT got the 3rd rank, which nearest competitors are Parle and Sunfeast Biscuits. It means the brand has good potential. ❖ Baked Food: In this category the in-store Brand TASTY TREAT got the 2nd rank, which nearest competitor is Mio Amore. It means the brand has Very good potential. ❖ Ghee: In this category the in-store Brand FRESH & PURE got the 2nd rank, which nearest competitor is Amul. It means the brand has very good potential. ❖ Coffee: In this category the in-store Brand FRESH & PURE got the 2nd rank, which nearest competitor is BRU. It means the brand has very good potential. Figure: -18.2 (Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand) ❖ Spices: In this category the in-store Brand GOLDEN HARVEST got the 2nd rank, which nearest competitor is Everest. It means the brand has very good potential ❖ Sauces & Spreads: In this category the In-store Brand TASTY TREAT got the 3rd rank and SANGI’S KITCHEN got the 5th rank. And here Prime got the rank 4th . Which means there may be chances of customer shifting of Patanjali Brand in its
  • 57. 50 absence towards TASTY TREAT or SANGI’S KITCHEN because these two brands are its near competitor ❖ Edible Oil: In this category the in-store Brand FRESH & PURE got the 2nd rank, which nearest competitor is Fortune. It means the brand has very good potential. ❖ Home Care: In this category it is ranked as the most preferred brand by the customer and it may be the CASH COW for the Organisation. ❖ Noodles: In this category the in-store Brand TASTY TREAT got the 6nd rank, which nearest competitors are KOKA & WAI-WAI Noodles. The rank shows that brand has Very less potential. Figure: -18.3 (Sun Burst Chart- Showing the Comparative Position between In- Store Brand Vs Competitor Brand) ❖ Pickle: In this category the In-Store brand TASTY TREAT got 4th rank, which denotes that is has potential but some initiative can push the rank higher. ❖ Papad: In this category the In-Store brand TASTY TREAT got 5th rank, which denotes that is has potential but some initiative can push the rank higher. ❖ Tea: In this category the In-Store brand FRESH & PURE got 3rd rank, which denotes that is has potential but some initiative can push the rank higher. ❖ Snacks: In this category the In-Store brand TASTY TREAT got 4th rank, which denotes that is has potential but some initiative can push the rank higher. 3. IMPORTANT FACTORS ❖ Price of the Brand: The most common and preferred factor that affect the brand preference of an individual is Price of the brand. It is the most important factor of
  • 58. 51 4p’s Marketing. Because BIGBAZZAR demands “Hardin Sasta” and that is one of the most important things that attracts the customer. But when the price is high in certain In-Store brand like KARMIQ, SANGI’S KITCHEN, BAKER STREET etc are the basic reason of getting the least rank. However, this factor affects 21% of the sample. ❖ Brand Loyalty: Brand Loyalty means that the satisfaction got from a certain brand and it is harder to switch that particular brand. This can be identified with repeat purchase of certain brand by an individual. And this factor affects 19% of the sample as they don’t want to switch to other product and Brand although it gives the same benefit. In some cases where Brand Loyalty is high, Price hardly matters to them. ❖ Utility of the Product: Here Utility means the benefit-sought of a product. And in this context where there is Brand Preference differs as per the utility of the consumer. For example; A customer prefer TASTY TREAT Biscuit but his Kid loves the Britannia Biscuit, so here if he purchases TASTY TREAT for his kid then that will hardly help him. So, this factor is preferred by 18% of total sample. ❖ Popularity of the Product (Brand Advertisement): This also one of the P of 4P’s of marketing i.e. Promotion. It plays a vital role changing the brand preference of the consumer because of its attractive visibility & stimuli. This factor has been preferred by 13% of the total sample. ❖ Exciting offer in the Product: This means the Sales Promotion which attracts the customer and helps the marketer to reduce the self-life a certain brand. In Indian mind set we feel happy when we got something extra or free of cost and that’s why this is preferred by 11% of the total sample size. Although this factor is followed by each and every organised retail store but it never works always. The major success of FUTURE PAY CASH BACK system is one of the classic examples which triggers the mind of the customer to switch the brand preference towards the In-store Product. ❖ Attracting Packing of the Product: It means the Packing and labelling of the product which helps the customer’s brand choice. But very less Customer of BIGBAZAAR things that this factor affects their brand decision that is only 9% of the total sample. ❖ Salesman’s Approach: This means the approach by a salesperson to buy a particular brand to the customer. But BIGBAZAAR’s retail type is ISS
  • 59. 52 (Independent Self Service) Outlet, where customer funds of selecting their own brand and product themselves and they don’t want a salesman view or approach unless until they need. So, this is the reason they give less priority to this factor that is only 9% of the total sample size. b. SUGGESTIONS ❖ Invest, Protect, Harvest and Divest. Figure: -16.1 (GE 9 CELL Matrix of In-store Brands of BIGBAZAAR) Based on this GE 9 CELL Matrix, my suggestion is on Control and giving priority to some In-store brand so that the Productive will be higher and the consumer preference will be enhanced so on. Here the X axis denotes the Industry Attractiveness or we can say the Consumer Preference and the Y Axis denotes the Business Strength or we can say the sale Percentage. Invest: From the matrix on the Consumer preference is High & Medium And the sale percentage also Strong and Average this Green area shows that organisation should invest more and more to that product so that it will give better results. The In-store Brands which lies in this portion are FRESH & PURE (GHEE), GOLDEN HARVEST (SPICES), FRESH & PURE (EDIBLE OIL), GOLDEN HARVEST (ATTA), TASTY TREAT (BISCUIT), TASTY TREAT (SAUCE & SPREAD), FRESH & PURE (TEA), TASTY TREAT (SNACKS), TASTY TREAT (BAKED FOOD) and FRESH & PURE (COFFEE). Protect: From the matrix when the consumer preference is Medium and the sale percentage is also Average then there is huge chance of entry of new rivalry so
  • 60. 53 organisation should protect this type of brand. In BIGBAZAAR In-store Brand Care Mate is that brand which need to protected. Harvest: From the matrix when the consumer preference is Medium and the Sale Percentage is also Weak and another situation where the consumer preference is Low and Sale percentage is Average then the brand portfolio is in red zone which indicates that organisation should invest less and sale it and after that it will go for further investment or in one word we can say harvest the brand. In BIGBAZAAR the brands are TSATY TREAT (PICKLE), KOSH (ATTA), TASTY TREAT (PAPAD), TASTY TREAT (NOODLES) & SANGI’S KITCHEN (SPICES). Divest: From the matrix when the consumer preference is Low and the sale percentage is also Weak than it comes under RED zone but it implies Divest. It means organisation should liquidate these brands so that the investment made on it will realised. As it is hard to revive these brands which has very less potentials. ❖ Update MPM with respect to Consumer Preference. MPM means Merchandise Percent Manual which is referral rule book provided by BIGBAZAAR to maintain the uniformity in each Stores across its operation area. This book generally provides the data about the prescribed percentage of brand positioning, sequence of brand positioning, proper flow of brand and category in side the store. And it is totally based on the consumer preference. So, the change in passage of time and generation of consumer the taste and preference of the consumer also change and for this reason the MPM should be changed time to time so that it will provide better service and customer satisfaction. ❖ Following the portfolio matrix optimal utilization of BAY/RACK/SELF is possible. By following the GE 9 CELL Matrix or Portfolio matrix it is possible to use the BAY optimally. As this matrix shows where to give more input and where to not. Which creates a gap and that will be utilised for existing product and also be used for new Brand introduction.
  • 61. 54 F. CONCLUSION Consumer Preference plays a vital role in the market as it directly influences the buying behavior of a consumer to a certain product or service. So, the organization should more focused towards Consumer Preference. According to the analysis it can be concluded that other Competitor products are more preferable than the In-store product but it has potentials in a number of segment so organization should invest more and more inputs into that products so that it will be more productive. However, Consumers have the preference in some of the BIGBAZAAR’s brand like Care mate, Fresh & Pure, Golden Harvest & Tasty Treat. And I suggest to create In-store Brand awareness programs so that more and more customer can reach to the home product which will enhance its width and depth of growth. a. FUTURE SCOPES As I have collected the demographic profile data of the customer and eager to know the demographic points how it will affect the consumer preference decisions and if there is a pattern behind it or not. In my analysis I got same result in two segments i.e. Atta and Sauces & Spread where the In-store brands of each got 3rd and 5th rank and want to know if the 4th rank brand is not available will they go for any of these two brands. And finally, If I got a chance in future to work with BIGBAZAAR I will try to extent this study to in different geographical location across India. As I expect the results may differ from this and may many other interesting facts may come out.
  • 62. 55 G.APPENDIX SL. NOFIGURENO FIGUREDETAILS PAGENO 1 1.1 Frequency Table of Category – ATTA 32 2 1.2 Bar Chart of Category – ATTA 32 3 2.1 Frequency Table of Category – Biscuit &Cookies 33 4 2.2 Bar Chart of Category – Biscuit &Cookies 33 5 3.1 Frequency Table of Category –Ghee 34 6 3.2 Bar Chart of Category – Ghee 34 7 4.1 Frequency Table of Category –Home Care 35 8 4.2 Bar Chart of Category – Home Care 35 9 5.1 Frequency Table of Category –Noodles 36 10 5.2 Bar Chart of Category –Noodles 36 11 6.1 Frequency Table of Category –Spices 37 12 6.2 Bar Chart of Category –Spices 37 13 7.1 Frequency Table of Category – Sauce &Spreads 38 14 7.2 Bar Chart of Category –Sauce &Spreads 38 15 8.1 Frequency Table of Category –Edible Oil 39 16 8.2 Bar Chart of Category – Edible Oil 39 17 9.1 Frequency Tablet of Category – Tea 40 18 9.2 Bar Chart of Category – Tea 40 19 10.1 Frequency Table of Category – Snacks 41 20 10.2 Bar Chart of Category – Snacks 41 21 11.1 Frequency Table of Category – Pickle 42 22 11.2 Bar Chart of Category – Pickle 42 23 12.1 Frequency Table of Category – Papad 43 24 12.2 Bar Chart of Category – Papad 43 25 13.1 Frequency Table of Category – Baked Food 44 26 13.2 Bar Chart of Category – Baked Food 44 27 14.1 Frequency Table of Category – Coffee 45 28 14.2 Bar Chart of Category – Coffee 45 29 15.1 In-Brand Sale %to its Respective Category with Preferred Rank 46 30 16.1 GE 9 CELL Matrix of In-store Brands of BIGBAZAAR 46&52 31 17.1 Bar Chart – Factors affecting the preference of customer while selecting a brand in BIGBAZAAR 47 32 18.1 Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand 48 33 18.2 Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand 49 34 18.3 Sun Burst Chart- Showing the Comparative Position between In-Store Brand Vs Competitor Brand 50
  • 63. 56 H. QUESTIONNAIRE Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Thank You Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) CADBURY Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand SUNFEAST BISK FARM Mc VITIES BRITANNIA PARLE TASTY TREAT *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Rank These Brands as per your Preference from 1 to 7 BISCUIT & COOKIES Brand Name Rank
  • 64. 57 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Thank You- Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) MONGINIS Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand PILLSBURY BAULI BAKERSTREET MIO AMORE TASTY TREAT BRITANNIA *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Rank These Brands as per your Preference from 1 to 7 BAKED FOOD Brand Name Rank Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Attracting Packing of the Product Salesman's Approach Thank You Utility of the Product Popularity of the Product (Brand Advertisement) Exciting Offer in the Product Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand Brand Loyalty NESCAFE SUNRISE TATA Rank These Brands as per your Preference from 1 to 5 COFFEE Brand Name Rank BRU FRESH & PURE *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose.
  • 65. 58 1 2 1 2 Thank You Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Price of the Brand Brand Loyalty Utility of the Product Factors Rank GOWARDHAN PATANJALI DEVI GHEE Brand Name Rank FRESH & PURE AMUL Rank These Brands as per your Preference from 1 to 7 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) Name: (Optional) Gender Male Female Thank You *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Popularity of the Product (Brand Advertisement) Exciting Offer in the Product Attracting Packing of the Product Factors Rank Price of the Brand Brand Loyalty SAFFOLA OLEEV SUNDROP EDIBLE OIL Brand Name Rank FRESH & PURE FORTUNE Rank These Brands as per your Preference from 1 to 7 Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Popularity of the Product (Brand Advertisement) Rank these factors from 1 to 7 which effects your Preference DURGA ANIK Salesman's Approach Utility of the Product KARMIQ Rank these factors from 1 to 7 which effects your Preference DHARA Name: (Optional) Gender
  • 66. 59 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. 1. Rank These Brands as per your Preference from 1 to 7 HOME CARE Brand Name Rank CLEAN MATE *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Thank You Attracting Packing of the Product Salesman's Approach Utility of the Product Popularity of the Product (Brand Advertisement) Factors WAI WAI TASTY TREAT TOP RAMAN Rank These Brands as per your Preference from 1 to 7 Thank You Popularity of the Product (Brand Advertisement) Exciting Offer in the Product Brand Loyalty Utility of the Product 2. Rank these factors from 1 to 7 which effects your Preference COLIN PRIM HARPIC CLEAR MATE Exciting Offer in the Product Rank Price of the Brand Brand Loyalty Rank these factors from 1 to 7 which effects your Preference YIPPEE PRIME NOODLES Brand Name Rank MAGGI Salesman's Approach Attracting Packing of the Product Factors Rank Price of the Brand MR MUSCLE NIMYLE KOKA
  • 67. 60 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student Thank You Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Thank You Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) TASTY TREAT Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand NILON’S PRIME PRIYA Rank These Brands as per your Preference from 1 to 7 PICKLE Brand Name Rank MOTHER’S Popularity of the Product (Brand Advertisement) Exciting Offer in the Product Attracting Packing of the Product TASTY TREAT Rank these factors from 1 to 7 which effects your Preference Factors Price of the Brand Salesman's Approach Brand Loyalty Utility of the Product Rank GANESH MOTHER’S RankPAPAD Brand Name Rank These Brands as per your Preference from 1 to 7 DNV ROZANA
  • 68. 61 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Thank You Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) CORNITOS Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand TOO YUMMY PRABHUJI BINGO TASTY TREAT HALDIRAM ACT II Thank You Rank These Brands as per your Preference from 1 to 7 SNACKS Brand Name Rank Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) WEIKFIELD Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand PRIME MAGGI TASTY TREAT KISSAN FUN FOOD SANGI’S KITCHEN Rank These Brands as per your Preference from 1 to 7 SAUCE & SPREADS Brand Name Rank
  • 69. 62 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Name: (Optional) Gender Male Female Age: 1. Below 10yrs 2. (11-20) 3. (21-30) 4. (31-40) 5. (41-50) 6. 51 & Above Occupation: 1. Home Maker 2. Salaried 3. Business Person 4. Retired 5. Student 1 2 Thank You *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. *This Questionnaires are made for A Comparative study in Big Bazar - Consumer Preference in Home Product and Top FMCG and it is completely meant for academic purpose. Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) TWININGS Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand BROKE BOND ORGANIC IND AGNI TATA TEA RED LEBEL FRESH & PURE Thank You Rank These Brands as per your Preference from 1 to 7 TEA Brand Name Rank Exciting Offer in the Product Attracting Packing of the Product Salesman's Approach Brand Loyalty Utility of the Product Popularity of the Product (Brand Advertisement) SANGI’S KITCHEN Rank these factors from 1 to 7 which effects your Preference Factors Rank Price of the Brand RUCHI MDH GRIHASTI GOLDEN HARVEST EVEREST CATCH Rank These Brands as per your Preference from 1 to 7 SPICES Brand Name Rank
  • 70. 63 I. BIBLIOGRAPHY Articles & Journals: • Irudaya Rajan S., Population Ageing and Health in India. Background Paper Series 1, Centre for Enquiry into Health and Allied Themes, Mumbai, 2006. • Ramanathan V. and Hari K., ―Structural changes in Indian Retail market: From Unorganized to Organized‖, Indian Journal of Marketing, December, pp-34- 40, 2008. Books: • Pater C. Verhoer, Kannan P.K., Jeffrey Inman J. (2015), "From Multi-Channel retailing to Omni-Channel retailing: Introduction to the Special Issue on Multi- Channel Retailing", Journal of retailing, Vol. 91, Issue 2, pp174-181. • Eleonora Pantano, Harry Timmermans (2014), "What is Smart for Retailing?", Procedia Environmental Sciences, Vol 22 pp101-107 • Eser Telci E, Ceyda Maden et.al (2011), "The Theory of Cognitive Dissonance: A Marketing and Management Perspective", Procedia-Social and Behavioural Sciences, Vol 24, pp378-386. • Anand K.S. and Sinha P.K.., Store format, choice in an evolving market: role of affect cognition and involvement. International Review of Retail, Distribution and Consumer Research, 19(5), pp. 505- 534, 2009. Divett M., Crittenden N. and Henderson R., Actively influencing consumer loyalty, Journal of Consumer Marketing, Vol. 20 No.2, p.109, 2003. Websites: • https://www.ibef.org/industry/retail-india/showcase • https://www.futureretail.in/about-us/overview-retail.html • https://www.futuregroup.in/aboutus • https://www.futureretail.in/careers/work_with_us.html • https://www.futurelifestyle.in/about_us.html • http://foodhallonline.com/about-us/ • https://bizfluent.com/info-8698883-definition-consumer-preference.html