1. 1 THEORETICAL BACKGROUND OF THE STUDY: Marketing Research Marketing Research has wider meaning and scope. It is the systematic gathering, recording and analyzing of data about problems connected with the market place, i. e. problems relating to product, price, place and promotion of the 4 P’s of the marketing mix. The American Marketing Association defines Marketing Research as follows:-
Marketing Research is the function which links the customer, consumer and public to the marketer through information used to identify and define marketing opportunities and problems; generate refine and evaluate actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing Research is concerned with all those factors which have a direct impact upon the marketing of products and services. It is the study of any part of total marketing process.
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In concentrates on the study of product planning and development, pricing, policies, effectiveness of personal selling, advertisement and sales promotion, competition and the entire area of buyer behaviour and attitudes in the market place. CONSUMER BEHAVIOUR C. B. is defined as the behaviour that consumers display in searching for, purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs. Consumer behaviour comes under marketing branch. The study of consumer behavior dwells from various themes the important once are discussed below: – Buying motive • Buying roles • Major factors influencing buying behavior Working towards enhancing customer satisfaction • The five stages in consumer buying process The aim of marketing is to meet and satisfy target customers’ needs and wants. The field of Consumer behavior studies how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires. Understanding consumer behavior and “knowing customers” is never simple. Customers may say one thing but do another.
They may not be in touch with their deeper motivations. They may respond to influences that change their mind at the last minute. Marketing and environmental stimuli enter the buyer’s consciousness. The buyer’s characteristics and decision processes lead to certain purchase decisions. The marketer’s task is to understand what happens in the buyer’s consciousness between the arrival of outside stimuli and the purchase decisions. It has been aptly said that the field of consumer behavior holds for various categories of people such as the consumers, marketers and students of marketing.
All the firms have started considering “customer” as the “king or queen”. Today, the market place is flooded with many new players including the host of MNCs resulting in the availability of more number of brands in every segment of the market. On account of this, the customer has started becoming choosy about what to buy. Thus, all firms are becoming not only customer focused but are also trying to build relationships with them. This is done by continuously updating knowledge, information and understanding of the customer’s needs and expectations.
Awareness that is displayed by the firms have made consumers take more interest in their own consumption related decisions. They are keen top gain more knowledge about taking various decisions related to products and the promotional influences that persuade them to buy. Marketers have woken up to the reality that they exist in a competitive environment, and therefore have to be more customer focused. On the one hand, the firms are facing liquidity problems, followed by a rising rate of inflation along with increasing competition eating into their margins and sales.
On the other hand, marketers have observed that the choice empowered customer cannot be taken for granted. This is particularly true because of the rapid rise in the average customer’s earnings, as well as a sharp drop in the savings rate- resulting in a huge amount of disposable income to be spent on products and services. Having a better understanding of consumer behaviour will help companies become better than their competitors. They will be able to predict the way a consumer may react to a given set of cues, and thus they will be able to plan their marketing programs or strategies accordingly.
BUYING MOTIVES A customer purchases a particular product or service because of a strong inner feeling or force which instills in him a strong desire to have possession of the same. A buying motive can be said to be all the desires considerations and impulses which induce a buyer to purchase a given product. Basically, buying motives are of two kinds: 1. Product motives. 2. Patronage motives. Product motives The impulses, considerations, and desires that induce a person to be positively inclined to purchase a product is called product motive.
The product is inclusive of the attributes i. e. color, size, attractive design, package, price etc, which may be the reasons behind product motives. Product motives can be classified on the basis of the nature of satisfaction sought by the buyer. Based on this classification, we can have two categories of product motives: 1. Emotional product motives. 2. Rational product motives. Emotional product motives: Emotional product motives are those impulses which persuade a customer to purchase a product spontaneously without giving prior thought to the consequences of the action or decision.
Evaluation of the pros and cons of the decision or logical reasoning and analysis is not pertinent in these purchase decisions. Here, the buyer lets the heart rule over the mind. Rational product motives: Rational product motives, on the other hand, involve careful reasoning and logical analysis of the intended purchase. The buyer will work out whether it is worthwhile to purchase the product. The buyer will carefully think and work out the valid and relevant reasons to justify the proposed purchase of the product. However, sometimes it has been observed that some product motives may be a mixture of emotion and rationality.
In such a case, a buyer may react quickly to a situation and make an impulsive buying decision but there could be some conscious reasoning behind such a purchase. So a more logical way of classifying product motives is by adding two dimensions to the product motives- utility and prestige. PATRONAGE BUYING MOTIVES: Why do buyers purchase from specific shops? What are the considerations or factors which persuade the buyers to display such patronage? These questions can be answered by understanding buyer patronage motives.
Patronage motives can also be categorized into two groups namely, emotional patronage motives and rational patronage motives. Emotional patronage motives: Emotional patronage motives are those impulses which motivate or persuade a buyer to purchase from specific shops. There may be no logical reasoning behind his decision to purchase from a particular shop. He may simply decide to buy from his “most preferred” shop, merely based on subjective reasons. Rational patronage motives: If a buyer solicits a particular shop after following a logical reasoning of the mind, this is called rational patronage motives.
He may select a shop because it offers a variety of products, or stocks the latest designs and models, or assures prompt delivery and good after sales service. As mentioned earlier, even patronage motives can be a combination of emotional and rational motives. BUYING ROLES A big task for the marketer is to identify the target buyers of a particular new product. The marketer has to know who makes the buying decision for the particular product category. Very often, most of the purchase decisions involve a Decision Making Unit (DMU) comprising of more than one person.
So he has to understand the roles of the various people involved in the decision making process. There are five different types of roles that people play in a buying decision. They are as follows: • Initiator: The person who first suggests the idea of buying the product or service. • Influencer: The person whose view or advice influences the decision. • Decider: The person who decides on any component of a buying decision: whether to buy, what to buy, how to buy, or where to buy. • Buyer: The person who makes the actual purchase. User: The person who consumes the product or service. It will be very useful for the company if it is able to identify the roles of the persons involved in the decision making process. This is because this information will help them in designing the product, allocate funds for the promotional budget, work out the communication media, and decide for whom the message is to be directed. Buying Behaviour: Consumer decision making varies with the type of buying decision. The decisions to buy toothpaste, a tennis racket, a personal computer, and a new car are all very different.
Complex and expensive purchases are likely to involve more buyer deliberation. WORKING TOWARDS ENHANCING CUSTOMER SATISFACTION In the existing business environment, markets are turbulent and customer needs are fast changing. Therefore, companies should opt for ways to add value for their customer by offering products or services just the way they want it. When the customer has to choose from a large number of options, features, pricing structures and various delivery methods, offering a unique product to every individual customer will go a long way in adding value to the consumer decision making process.
Customer satisfaction is a continuous process which does not begin or end with a purchase. It covers the entire ‘ownership experience’ from selecting a product, to purchase, to aftercare to a repeat purchase. Thus, there are three stages in the customer satisfaction process, namely: 1. Pre sales: During this stage, the customer’s expectations are developed through the various information sources like advertising, word of mouth and so on. 2. During sales: When the customer is engaged in experiencing how to deal with enquiries and sell products. 3.
After sales: This refers to the period where the customer has started using the product 4. The pre-sales period: This refers to clear, useful information on: • The product or service. • Its quality aspect. • Its core benefits or advantages. • Its price • Its availability or sales outlet. • How to obtain it. During sales period: • Opportunity to inspect the products. • Provision of an attractive sales environment. • Courteous and effective service. • Reasonable and reliable delivery. • Enhancing quality of goods or services. • Prompt reply in case of complaint receipt. Freedom to choose with undue sales pressure. The After sales period: • If required necessary support or advice must be provided. • Prompt replacement or refund if necessary. • A smooth and straight forward complaint procedure. • Efficient repair and maintenance service. • Efficient and effective consumer follow-up process. From the above points, it is seen that consumer satisfaction goes beyond the core product or service offering. Marketing decision makers must start by trying to understand the elements which together will determine the satisfaction levels.
They must then list the elements in a proper sequence so as to identify what is to be done to increase the customer’s satisfaction level. This can be done only if the marketers involve a system which facilitates interaction with their customers. These interactions will prove to be equally important as the quality of the core product or service offered by the company in the long run. MAJOR FACTORS INFLUENCING BUYING BEHAVIOR Personality-An individual’s personality relates to perceived personal characteristics that are consistently exhibited, especially when one acts in the presence of others.
In most, but not all, cases the behaviors one projects in a situation is similar to the behaviors a person exhibits in another situation. In this way personality is the sum of sensory experiences others get from experiencing a person (i. e. , how one talks, reacts). While one’s personality is often interpreted by those we interact with, the person has their own vision of their personality, called Self Concept, which may or may not be the same has how others view us. CULTURAL FACTORS Culture: Exert the maximum influence on consumer behavior.
Culture is the basic determinant of a person wants. It refers to a set of learnt beliefs, values, attitudes, customs, habits and other forms of behavior that are shared in society. Sub Culture: Each culture consists of smaller subcultures that provide more specific identification and socialization for its members. They are four types of subcultures they are : NATIONALITY GROUPS RELIGIOUS GROUPS RACIAL GROUPS GEOGRAPHIC GROUPS Social Class: It is the divisions of people in the society, which are hierarchically ordered, and its members share similar values and behavior.
SOCIAL FACTORS Reference Group They are the social, economic or professional groups that have a direct or indirect influence on the person’s attitudes or behavior. Consumers accept information provided by their peer groups on the quality, performance, style etc of a product. These groups influence the person’s attitudes and expose them to a new behavior. Family It is the most influential group as the attitudes, habits and values are shaped by the family’s influence. The members of family play different roles such as influencer, decider, purchaser and user in the buying process.
Roles and Status Roles represent the position we feel we hold or others feel we should hold when dealing in a group environment. These positions carry certain responsibilities The consumers buying behavior is also influenced by the roles and status of person. It influences a person in taking a certain decision. PERSONAL FACTORS Age According to Russell People buy different goods and services over their lifetime. The lifecycle of a person is infancy, adolescence, teenage, adult middle age and old age. In each stage the persons buying behavior is different.
The person is dependent on others during the first three stages, then in the next stage he not only takes decisions but also influences others buying decisions and in the last stage of the life cycle the decisions are again made by others. Occupation It also influences his or her consumption pattern because occupation decides his ability to buy For example – A blue-collar worker will buy work clothes and work shoes while a company’s president will buy expensive suits, club memberships and a luxury car. Economic Circumstances Products choice is greatly affected by ones economic circumstances.
People’s economic circumstance consists of their spend able income, savings, assets, debts, borrowing power and attitude towards spending versus saving. Lifestyle It is the pattern or way of living of a person. This will be indicated through the person’s activities, interests and opinions. Hence he will chose products according to his lifestyle. PYSCHOLOGICAL FACTORS Motivation- Motivation relates to our desire to achieve a certain outcome. For instance, when it comes to making purchase decisions customers’ motivation could be affected by such issues as financial position (e. g. , Can I afford the purchase? , time constraints (e. g. , Do I need to make the purchase quickly? ), overall value (e. g. , Am I getting my money’s worth? ), and perceived risk (e. g. , What happens if I make a bad decision? ). Psychologists have developed theories of human motivation. The best three motivation theories are given by Sigmund Freud, Abraham Maslow and Frederick Herzberg. Perception A motivated person is ready to act. How the motivated person actually acts is influenced by his or her perception of the situation. To perceive is to see, to hear, to touch, to taste, to smell and to sense something so as to find meaning in the experience.
People can emerge with different Perceptions of the same object because of three perpetual processes that is selective retention, selective attention and selective distortion. Learning Involves changes in an individual’s behavior arising from experience or practice. Most human behavior is learned. It is produced through the interplay of drives, stimuli, cues, responses and reinforcement. Beliefs and Attitudes A belief is a descriptive thought that a person holds something. Through doing and learning, people acquire beliefs and attitudes. These in turn influence their buyer behavior.
The beliefs may be based on knowledge, opinion, or faith. They may or may not carry an emotional charge. An attitude is a person enduring favorable or unfavorable evaluations, emotional feelings, and action tendencies toward some object or idea. People have attitudes toward almost everything: religion, politics, clothes, music, food and so on. Attitudes put them into a frame of mind of liking or disliking an object. THE FIVE STAGES IN CONSUMER BUYING PROCESS Problem Recognition The buying process starts when the buyer recognizes a problem or need. The need may be activated by internal or external stimuli.
The intensity of want will indicate the speed at which the person will move to fulfill it. Information Search An aroused customer will be inclined towards the search for information until the desired product is known and available. The person will also search for information until the desired product is known and available. The person will also search for information relating to the brand, its location and the manner of obtaining the product. Evaluation of Alternatives This is an important stage in the process of buying where several decisions are taken in the evaluation process.
The basic consumer evaluation process is as follows – Firstly – The consumer is trying to satisfy a need. Secondly – He is looking for certain benefits from the product. Thirdly – He sees a product as a bundle of attributes. Purchase Decision While the customer is evaluating the alternatives the person will have preferences among the various brands, a liking towards a particular brand will lead to the purchase of the product thus a prospective buyer heads towards final selection. Post Purchase Behavior Once the product has been purchased the consumer will experience some level of satisfaction and dissatisfaction.
If the derived satisfaction is as per expected satisfaction then it will lead to brand preference and brand loyalty leading to future purchases. If the purchase does not yield derived satisfaction then the customer becomes dissatisfied and will lose its preference. 1. 2 INDUSTRIAL BACKGROUND OF THE STUDY AND C. I. TEXTILE INDUSTRY THE Indian Textiles Industry has an overwhelming presence in the economic life of the country. Apart from providing one of the basic necessities of life, the textiles industry also plays a pivotal role through its ontribution to industrial output, employment generation, and the export earnings of the country. Currently, it contributes about 14 percent to industrial production, 4 percent to the GDP, and 17 percent to the country’s export earnings. It provides direct employment to over 35 million people, which includes a substantial number of SC/ST, and women. The Textiles sector is the second largest provider of employment after agriculture. Thus, the growth and all round development of this industry has a direct bearing on the improvement of the economy of the nation.
The Indian textiles industry is extremely varied, with the hand-spun and Ihand-woven sector at one end of the spectrum, and the capital intensive, sophisticated mill sector at the other. The decentralized power looms/ hosiery and knitting sectors form the largest section of the Textiles sector The industry has several vast sectors within it, viz, the mill sector, the clothing or garment sector, the handloom sector and the power loom sector. Each of these sectors employs lakhs of workers and also contributes significantly to the national economy.
The tradable commodities under textiles include readymade garments (clothing), cotton yarns, fabrics, silk and woolen products, etc. GARMENT SECTOR The garment sector, however, has emerged as the most globalised sector in the world today. This sector alone employs about 4. 3million workers. A large segment of the garment sector comprises of a vast domestic market, while another significant segment caters to the export market. Most of the units producing for exports are in Tirupur, Delhi and Mumbai. According to the ministry of commerce, 53per cent of the total textile exports in 2007-2008, was from the garment sector alone.
Nearly 80 per cent of Indian clothing exports go to the USA and the EU where they face quota restrictions. Apart from agriculture and Patents, textiles and clothing in particular are the murkiest elements on the stage of world politics. The struggle on these two sectors continued throughout the Uruguay round for eight years. Textiles and clothing still remain as the most contentious issues. WHAT IS RETAILING? Retailing is a distribution channel function where one organization buys products from supplying firms or manufactures the product themselves, and then sells these directly to consumers.
A retailer is a reseller (i. e. , obtains product from one party in order to sell to another) from which a consumer purchases products. Restaurants, supermarkets, banks, mail-order catalogs are all retailers . Retailing is the final link in the marketing channel bringing products and services from the producers and providers to consumers. As a reseller, retailers offer many benefits to suppliers and custom For consumers the most important benefits relate to the ability to purchase small quantities of a wide assortment of products at prices that are considered reasonably affordable and at right place also.
For suppliers the most important benefits relate to offering opportunities to reach their target market, build product demand through retail promotions, and provide consumer feedback to the product marketer. ers. EVOLUTION OF RETAILING The development of shopping malls can be traced back to 1850’s, when the first Department store was opened in Paris starting the era of mass consumption. Mass Production and consumption rationalized and industrialized shopping . The development of department stores meant major transforms in the landscape of cities.
Commercial activities moved from public streets to privately owned buildings. Department stores changed the concept of shopping and liberated people to enjoy it . Understanding the categories is very important because successful strategies and tactics vary from one type or retailer to the next, and knowing what kind of store is to be run is the first step in designing the marketing programs RETAILING INDUSTRY IN INDIA • Even though India has well over 6 million retail outlets of all sizes and styles (or non-styles), the country sorely lacks anything that can esemble a retailing industry in the modern sense of the term. This presents international retailing specialists with a great opportunity. • The India Retail Report 2009 compiled by research group Images F Research is again optimistic about Indian Retail Industry. As per the report, spiralling income and rising economic growth (I don’t know where it is) will fuel the growth of industry and it will touch Rs. 18,10,000 crore by 2010. Organized Retail is expected to constitute 13% of it i. e. Rs. 2,30,000 crore.
The report says that though people are perceiving that organized retail will hit mom & pop format hard, but modernizing retail will generate employment for 15 million people in different activities. Food and grocery dominated the retail segment with 59. 5 per cent share valued at Rs 7,92,000 crore, followed by clothing and accessories with a 9. 9 per cent share at Rs 1,31,300 crore. • Retailing in India is thoroughly unorganized. There is no supply chain management perspective. According to a survey by AT Kearney, an overwhelming proportion of the Rs. 300,000 crore retail market is UNORGANISED. In fact, only a Rs. 0,000 crore segment of the market is organized. • As much as 94 per cent of the 6 million-plus outlets are smaller than 500 square feet in area. This means that India per capita retailing space is about 2 square feet (compared to 16 square feet in the United States). India’s per capita retailing space is thus the lowest in the world (source: KSA Technopak (I) Pvt Ltd, the India operation of the US-based Kurt Salmon Associates). • Just over 9 per cent of India’s population is engaged in retailing (compared to 20 per cent in the United States). There is no data on this sector’s contribution to the GDP. The first challenge facing the organised retail industry in India is: competition from the unorganised sector. Traditional retailing has established in India for some centuries. It is a low cost structure, mostly owner-operated, has negligible real estate and labour costs and little or no taxes to pay. Consumer familiarity that runs from generation to generation is one big advantage for the traditional retailing sector. • In contrast, players in the organised sector have big expenses to meet, and yet have to keep prices low enough to be able to compete with the traditional sector.
High costs for the organised sector arises from: higher labour costs, social security to employees, high quality real estate, much bigger premises, comfort facilities such as air-conditioning, back-up power supply, taxes etc. Organised retailing also has to cope with the middle class psychology that the bigger and brighter a sales outlet is, the more expensive it will be. • India’s first true shopping mall – complete with food courts, recreation facilities and large car parking space – was inaugurated as lately as in 1999 in Mumbai. this mall is called “Crossroads”). Local companies and local-foreign joint ventures are expected to more advantageously positioned than the purely foreign ones in the fledgling organised India’s retailing industry. • These drawbacks present opportunity to international and/or professionally managed Indian corporations to pioneer a modern retailing industry in India and benefit from it. • The prospects are very encouraging. The first steps towards sophisticated retailing are being taken, and “Crossroads” is the best example of this awakening.
More such malls have been planned in the other big cities of India. .1 RESEARCH DESIGN- Marketing research design is the specification of procedures for collecting and analyzing the data necessary to help identify or react to a problem or opportunity such that the difference between the cost of obtaining various levels of accuracy and the expected value of the information associated with each level of accuracy is maximized. The type of research used in this project is a descriptive research design.
The descriptive study is a fact finding investigation with adequate interpretation. It is the simplest form of research. It focuses on particular aspects or dimensions of the problem studied. It is so designed that it gathers descriptive information and provides information for formulating more sophisticated studies. A descriptive study objective aims at identifying the various characteristics of a company’s problem 2. 2 Title of the study- A STUDY ON CONSUMER BEHAVIOUR TOWARDS, READYMADE GARMENTS with special reference to WILLS LIFESTYLE BANGALORE. 2. 3 STATEMENT OF THE PROBLEM
ITC limited had entered into manufacturing of the readymade garment in the year 2000 under the brand name of Wills Lifestyle and for the same had the problem of creating awareness in the garment industry which had already been occupied by various other brands. The consumer had different preference perception towards the brand Wills Lifestyle in the market. Therefore a study was chosen to analyse the amount of awareness that had been created by them and the consumer behaviour towards the product( Readymade garments) manufactured by them is studied. 2. 4 OBJECTIVES OF THE STUDY ) To study the shopping behavior the consumer from specialty shop. b) Customer’s attitude and perception towards Wills Lifestyle store. c) Customer’s expectation and satisfaction levels. d) To offer suggestion based on the findings. 2. 5 NEED FOR THE STUDY The basic purpose of this study is to analyse the consumer behaviour towards readymade garments with special reference to WILLS LIFESTYLE. In the study researcher analyses the behaviour of the consumer buyer to understand the new opportunities in the market for the improvement of sales and consumer satisfaction towards the product.
Thus the overall need for the study is to suggest a new marketing strategy by analysing marketing opportunities towards WILLS LIFESTYLE. 2. 6 SCOPE OF THE STUDY This study is based on a survey conducted in Bangalore city, so it confirms itself to the analysis of various consumers. It covers information gathered from the present and future potential customers of Wills Lifestyle as well as from the respondents who have expressed their views on readymade garments. The study emphas is on brand awareness and consumer behaviour towards wills lifestyle product (readymade garments). . 7 RESEARCH INSTRUMENT Research instrument is an instrument through which data is collected as accurate as possible. It should be easy to use convenient for obtaining data and the researcher should find it easy to gather accurate data using this instruments used in research are- QUESTIONNAIRE: questionnaire is a popular means of data collection instrument. A questionnaire uses a structured, standardized format of data collection to record verbal responses to questions.
Particularly when the population to be covered is very large and the study wishes to collect data about specific aspects of consumers awareness, attitude, opinions, prior and present behavior, it is recommended to design a questionnaire. The exact format and sequence of the questionnaire will greatly depend on the study objective and the method of administration of the questionnaire. Types of questions used to frame the questionnaire: Open ended questions:- Open ended questions leaves the respondents free to offer any replies that seem appropriate in light of the questions.
Multiple choice questions:- It presents either in the question proper or immediately following the question, the list of possible answers from which the respondent must choose. Dichotomous questions:- It represents an extreme form of the multiple choice question, allow only two responses, such as “yes-no”, “agree-disagree”, “male-female” and “did-did not”. Structured Direct interview: A formal questionnaire consists of structured and direct form of questions. The interviewer is instructed to ask the persons those questions only in the order given in the questionnaire.
This mode of data collection is structured and direct in nature. Mail Survey : This instrument is a questionnaire but it is sent by mail and response is also obtained by Mail, However, the response could be low. Apart from this there are also other mechanical or electronic devices which are also used for getting data. Here Questionnaire was designed with open-end and close-end questions. The questionnaire was designed in such a manner so as to cater to all the areas and aspects the study. 2. 8 DATA SOURCES Primary data The data which is collected directly from the consumer by communicating with them.
It helps to know the attitudes and opinions of people, awareness and knowledge, behaviour etc. Contacting the sample members and then getting the required information by using observation and communication collects this data. There are some data collecting instruments. These are : a. Survey Method b. Observation Method c. Experience Method. Survey Method- Survey is most commonly used method of primary data collection in marketing research. This method has been used because of its extreme flexibility. Survey research is the systematic gathering of data from respondents through questionnaire.
The purpose of survey is to facilitate understanding or enable prediction of some aspects of behaviour of the population being surveyed. A questionnaire is a formal list of questions to be answered in the survey. In the survey method for collecting primary data three techniques can be used. These are : ? Personal Interview ? Telephone Interview ? Mail Interview Primary data was collected through an interview with the help of a structured questionnaire, which contained queries that were relevant to the purpose of the study as well as pertinent; industry related questions. he present study questionnaire makes use of both open ended and close ended questions. Secondary Data Secondary data is the information which already exists. These are data which can be collected from internal and external sources apart from the information collected from the field. Secondary data can be collected from the following sources:- -The secondary data for this research was obtained from textbooks, brochures and internet. Very little research specific data was available; hence much emphasis was given to primary data. 2. PLAN OF ANALYSIS: • The data collected was tabulated and percentage were determined the interpretation are presented in form of graph and charts. • Conclusions have drawn and suggestions have been made to the best of knowledge. • All the work is done under the assumption that the data collected from the respondents was accurate. Throughout the survey and throughout the time the report was prepared, errors and mistakes have been made minimal despite the knowledge o the fact that with a sample size of 100, various hindrances are bound to occur.
Summary of findings have been recorded and suitable suggestion are given to improve the business at Wills Lifestyle. • Utmost care has been taken while preparing this report to see that it can be clearly understood by the reader as well as beneficial for the company. 2. 10 Sampling Procedure Sampling procedure is a total procedure of selecting the sample size and following the steps is involved in sampling: Sample is a small portion of the total, which can be taken to study the characteristic of the total. The total is called the entire population or universe and the representative is called sample.
For example, if we have to study characteristic of two wheeler purchase among college student in Bangalore, the total population or universe could be approximately 50,000. The sample could be 100 or 150 student, we are going to interact are called sample. When we will interview them they will show some characteristic. These can be assumed as characteristic of total. Methods Of Sampling : Generally sampling can be of two broad categories that are probability and non-probability sampling. 1. Probability Sampling : Probability sample is chosen in such a way that each member of universe have known chances of being selected for a sample.
Frequently techniques are Simple Random sampling, Systematic sampling, Stratified Random Sampling, Cluster sampling. systematic way such that each person has a known chance being selected. For example, if we want to select 25 customers of pizza out of 75 in Bangalore, then every 5th customer can be selected. This method is simple to select the sample size . . Non Probability Sampling In no-probability sampling the chance of a particular unit being selected is unknown, that means the probability of selection is not clear. There are three types of non-probability sampling.
CURRENT SAMPLING PLAN: SAMPLING PROCEDURE: Random sampling SAMPLING SIZE: 100 respondents GEOGRAPHICAL COVERAGE: Bangalore 2. 11 LIMITATIONS OF STUDY ? This being an academic study, it suffers from time and cost constraints. ? The survey was conducted only on 100 respondents. ? The analysis of the study is limited to Bangalore city only. Hence it cannot be generalized in other places. ? There are chances of respondents being biased on data, which was collected through personal survey. COMPANY PROFILE 3. 1 ORIGIN OF THE ORGANISATION
ITC was incorporated on August 24, 1910 under the name of `Imperial Tobacco Company of India Limited’. Its beginnings were humble. A leased office on Radha Bazaar Lane, Kolkata, was the centre of the Company’s existence. The Company celebrated its 16th birthday on August 24, 1926, by purchasing the plot of land situated at 37, Chowringhee, (now renamed J. L. Nehru Road) Kolkata, for the sum of Rs 310,000. This decision of the Company was historic in more ways than one. It was to mark the beginning of a long and eventful journey into India’s future.
The Company’s headquarter building, ‘Virginia House’, which came up on that plot of land two years later, would go on to become one of Kolkata’s most venerated landmarks. The Company’s ownership progressively indianised, and the name of the Company was changed to I. T. C. Limited in 1974. In recognition of the Company’s multi-business portfolio encompassing a wide range of businesses – Cigarettes & Tobacco, Hotels, Information Technology, Packaging, Paperboards & Specialty Papers, Agri-Exports and Lifestyle Retailing – the full stops in the Company’s name were removed effective September 18, 2001.
The Company now stands rechristened “ITC Limited” 3. 2 GROWTH & DEVELOPMENT OF THE ORGANISATION In 1979, ITC entered the Paperboards business by promoting ITC Bhadrachalam Paperboards Limited, which today has become the market leader in India. In 1985, ITC set up Surya Tobacco Co. in Nepal as a joint venture with the reputed Soaltee group. In August 2002, Surya Tobacco became a subsidiary of ITC Limited. Its name was changed to Surya Nepal Private Limited (Surya Nepal). In 1990, ITC acquired Tribeni Tissues Limited, a Specialty paper manufacturing company and a major supplier of tissue paper to the cigarette industry.
The merged entity was named the Tribeni Tissues Division (TTD). To harness strategic and operational synergies, TTD was merged with the Bhadrachalam Paperboards Division to form the Paperboards & Specialty Papers Division in November, 2002. Also in 1990, leveraging its agri-sourcing competency, ITC set up the International Business Division (IBD) for export of agri-commodities. The Division is today one of India’s largest exporters. In 2000, ITC’s Packaging & Printing business launched a line of high quality greeting cards under the brand name ‘Expressions’.
In 2002, the product range was enlarged with the introduction of Gift wrappers, Autograph books and Slam books. The Expressions Paperkraft range of premium stationery products was rolled out in 2003. ITC also entered the Lifestyle Retailing business with the Wills Sport range of international quality relaxed wear for men and women in 2000. The Wills Lifestyle chain of exclusive stores later expanded its range in 2002 to include Wills Classic formal wear and Wills Club life evening wear. ITC also initiated a foray into the popular segment with its men’s wear brand, John Players in 2002.
ITC entered the branded packaged Foods business in 2001 with the launch of the Kitchens of India brand of premium ready-to-eat gourmet cuisines. In 2002, ITC’s philosophy of contributing to enhancing the competitiveness of the entire value chain found yet another expression in the Safety Matches initiative. ITC’s foray into the marketing of Incense sticks in 2003 marked the manifestation of its partnership with the cottage sector 2004 -ITC’s Wills Lifestyle unveiled its fall/winter collection here on Jan 6.
The collection, featuring Wills Classic formal wear, Wills Sport relaxed wear, Wills Clublife evening wear, and fashion accessories from Furla and Valentino from Italy, is available at ITC’s Wills Lifestyle store near Nagarjuna Circle. In 2008- THE sales of ITC had amounted to $2. 98 billion and it made profits worth $0. 64 billion. Its assets were worth $3. 57 billion and its market value was around $19. 01 billion. Today ITC provides its products and services in five separate categories – fast moving consumer goods, agri-businesses, hotels, information technology and paperboards and packaging.
In fast moving consumer goods section ITC offers cigarettes, education and stationery, foods, safety matches, lifestyle retailing, incensesticks and personalcare. In hotels section there are a number of hotels of ITC across India. There are several brands of hotels run by ITC but major group is Welcomgroup. Hotels of ITC also have some well known restaurants like Bukhara, DumPukht and Dakshin that provide branded food. In paperboards and packaging section ITC offers paperboards and specialty papers and packaging services. ITC’S WILLS LIFESTYLE
ITC’s Wills Lifestyle is the largest retail chain of premium apparel with 48 outlets across the country. ITC Limited launched Wills Lifestyle with technical expertise from ADIG (American Design Intelligence Group), a company with worldwide experience in store designing and merchandising. The first Wills Lifestyle store in up-market South Extension, New Delhi, continues to be the design format for all the stores that have opened thereafter. An international ambience, achieved by the extensive use of glass, steel and granite, provides the perfect backdrop for a leisurely, international and thoroughly satisfying shopping experience.
Customers can pick a complete wardrobe, with the assistance of fashion literate staff, trained to be unobtrusive yet helpful. The store also offers a convenience unmatched in today’s retail world. 3. 3 PRESENT STATUS OF THE ORGANISATION ITC’s Lifestyle Retailing Business Division has established a nationwide retailing presence through its Wills Lifestyle chain of exclusive specialty stores. Wills Lifestyle, the fashion destination, offers a tempting choice of Wills Classic work wear, Wills Sport relaxed wear, Wills Clublife evening wear, fashion accessories, Essenza Di Wills – an exclusive range of fine ragrances and bath & body care products for men and women and Fiama Di Wills – a range of premium shampoos and shower gels. Wills Lifestyle has also introduced Wills Signature, designer wear by leading designers of the country. VISION “Sustain ITC’s position as one of India’s most Valuable Corporation through world class performance, creating growing value for the Indian economy and the company’s stakeholders” MISSION “To enhance the wealth generating capability of the enterprise in a globalizing environment, delivering superior and sustainable stakeholder value. “
THE WILLS LIFESTYLE BRAND Wills Lifestyle has been established as a chain of exclusive specialty stores providing the Indian consumer a truly international shopping experience through world-class ambience, customer facilitation and clearly differentiated product presentation. Our stores have established themselves as preferred shopping destinations in the prime shopping districts across the country. At Wills Lifestyle, customers can browse at leisure, and shop in a relaxed and pleasing atmosphere. The use of space is refreshing, which is reflected even in the spacious changing rooms.
Every store offers an international retailing ambience with the extensive use of glass, steel and granite, reflecting the most contemporary trends in store design, thereby creating a splendid backdrop for the premium offerings. Wills Lifestyle launches two major collections every year – Spring/Summer in early April and Fall/Winter in October. Each collection captures the latest trends and styles in formal, relaxed and evening wear. Wills Lifestyle was named Super brand 2006 by the Super brands Council of India recently.
Wills Lifestyle has been twice declared ‘The Most Admired Exclusive Brand Retail Chain of the Year’ at the Images Fashion Awards in 2001 & 2003. Retailer of the Year Award to Wills Lifestyle in Fashion & Lifestyle category at Asia Retail Congress 2008. Wills Lifestyle rated amongst the top 5 Luxury brands in the country in a Global Luxury Survey conducted by TIME Magazine. Wills lifestyle presents new range in winter 2008 collection- Mr. Atul Chand, Divisional Chief Executive, ITC’s Lifestyle Retailing says, “The Wills Lifestyle Autumn Winter 2008 collection is refined, stylish and sophisticated.
Keeping In line with the latest international trends, the look is luxurious with refreshing colours and chic styles. The collection is truly world class and provides our discerning consumers with the very best for the season. ” 2009- Wills lifestyle announced spring/summer 2009 collection. wills sport summer collection is Exciting vibrant and full of energy this spring summer. it has also launched glamours collection for men. It includes yarn dyes focused on neutral bases with bright color stripes. 0n 28 Feb. 009- ITC personal care business launched the first book in the Di Wills series essence of hair at the salon De wills during wills lifestyle India fashion week autumn winter 09 in NEWDELHI Wills Lifestyle – Classic: This season Wills Classic, new age formal wear, presents a story of elegance and sophistication. LIFESTYLE RETAILING [pic] Over the last three years, ITC’s Lifestyle Retailing Business Division has established a nationwide retailing presence through its Wills Lifestyle chain of exclusive specialty stores.
Beginning with its initial offering of Wills Sport premium relaxed wear from the first store at South Extension, New Delhi in July 2000, ITC has in a short span of time expanded its basket of offerings to the formal segment with Wills Classic formal wear and to the social evening segment with Wills Clublife, evening wear. With a distinctive presence across segments at the premium end, ITC has now initiated a foray into the popular segment with its men’s wear brand ‘John Players’ – thereby aspiring to build a dominant presence in the apparel market through a robust portfolio of offerings.
ITC’s ‘Wills Lifestyle’ has been established as a chain of exclusive specialty stores providing the Indian consumer a truly ‘International Shopping Experience’ through a meticulously created world-class ambience, customer facilitation and clearly differentiated product presentation. There are currently 48 stores in 38 cities across the length and breadth of the country and these have established themselves as preferred shopping destinations in the prime shopping districts. At the ‘Wills Lifestyle’ store, customers can browse at leisure, and shop in a relaxed and pleasing atmosphere.
The use of space is refreshing in the ‘Wills Lifestyle’ stores. This is reflected even in the spacious changing rooms. Every ‘Wills Lifestyle’ store strives to offer an international retailing ambience with the extensive use of glass, steel and granite, reflecting the most contemporary trends in store design, thereby creating a splendid backdrop for the premium offerings. The aim is to provide an outstanding and relaxed premium buying experience. ‘Wills Sport’ has successfully marketed fashionable premium relaxed apparel for men and women for seven seasons. Wills Sport’ has now become the vibrant face of contemporary fashion, presenting the most definitive “Looks” of the season. In Spring/Summer 2003, for example, ‘Wills Sport’ presented the “Cool Summer Look” – whites and pastels in soft cotton and fine linen. India’s Fashion Industry has recognised the brand’s truly world-class standards and excellence. At Images Fashion Awards 2002, Wills Sport was declared “The most admired Women’s wear brand of the year”, an indication of the distinctive positioning and identity that the brand has successfully achieved in the growing western women’s wear market.
Having established a distinctive presence in the premium apparel segment in a short span of time with Wills Sport premium relaxed wear and Wills Classic New Age formals, ITC launched Wills Clublife in May 2003 in the growing evening wear segment, thereby strengthening its portfolio in the premium segment. The brand is uniquely positioned to complement the glittering evening life of premium clothes. [pic]
ITC’s ‘Wills Lifestyle’ stores complement the range of premium apparel with a tempting choice of fashion accessories including, by a special arrangement with international design houses, signature eyewear from Valentino and designer handbags from Furla. ITC launched its brand of men’s apparel in the popular segment, ‘John Players’, in December 2006 to broad-base the array of branded apparel that the Company offers and urther strengthen its robust branded garment portfolio. This foray into the popular segment leverages ITC’s proven competencies in building long-term trade partnerships and establishing omnipresent brand availability.
The ‘John Players’ range of men’s apparel bears telling testimony to ITC’s signature attention to minute detail. It Endeavour’s to deliver unbeatable value to the discerning consumer at competitive prices ranging from Rs 400 to Rs 900. It is marketed in a uniquely transparent and see-through packaging that allows the consumer to clearly see the garments. It therefore facilitates consumer choice, while showcasing and highlighting the distinct and incremental product value that the brand brings. The essence of the brand and its message is that true intrinsic worth will surely be seen, appreciated and admired.
It is this essence that the base-line of the brand’s advertisement encapsulates: “When you’re sure, it shows”. With the creation of an international class ‘Wills Lifestyle’ retail chain, the building of a powerful brand portfolio in the highly competitive premium market in branded garments, and the impactful launch of ‘John Players’ in the popular segment, ITC’s Lifestyle Retailing is poised to grow and build a dominant presence in the country’s fashion industry. WILLS CLUBLIFE Glamorous eveningwear that compliments your glittering lifestyle perfectly. This season Wills Club life presents a story of magical allure.
In inviting colors of the dark. Shimmer and shine create a fascinating desire. ACCESSORIES Wills Lifestyle offers the customer a complete wardrobe of fashion apparel and accessories. This season a wider choice of accessories will be offered across ties, cuff links, socks, caps, hand bags, wallets, belts and eyewear. With the introduction of premium formal and relaxed jackets in the range, wills lifestyle will continue to offer the definitive look of the season. WILLS LIFESTLYLE also offers the customers with ESSENZA DI WILLS, an exclusive range of fine fragrances and bath & body care products for men and women.
ABOUT CLUB WILLS CLUB WILLS the lifestyle privileges programme of wills lifestyle takes our relationship with our valued customers beyond fine fashion to the realm of fine living. CLUB WILLS offers its members: Rewards points on every purchase made that can be redeemed against lifestyles exciting reward options. Personalized “SMART CHIP” enabled card that allows earning and redeeming of points. EXCLUSIVE INSTORE privileges FOR A shopping experience that is refreshingly international. Host of LIFESTYLE PRIVILEDGES from wills lifestyle and its premium partners. . 4 FUTURE STATUS OF THE ORGANISATION As the country’s most admired fashion brand. Wills lifestyle looks forward to an exciting tomorrow of change. Now ITC wills lifestyle business is targeting a 20% growth for its premium brand in 2009-2010. Despite the current slowdown the apparel major has taken so many initiatives like focusing more on production side, co-ordinating on loyalty programmes in a big way. Wills lifestyle will open 10 new stores in 2009-10. At present it has 55 stores in 30 cities. It is also looking for revenue sharing in new malls. 3. FUNCTIONAL DEPARTMENTS OF THE ORGANISATION: PRODUCTION DEPARTMENT Production is the bias activity of all industrial units. All the other activities revolve round this activity. The end product of production activity is the certain of goods and services for the satisfaction of human wants. According to economics, product is an activity through which the form utility is either created or enhanced. Wills owns and operates many manufacturing plans. It also sources from hundreds many other authorized factories in order to always give customers the right garments at the right price.
At present wills has got four factories in Calcutta, Haryana, Patna, mumbai. RESEARCH & DEVELOPMENT DEPARTMENT- Mumbai factory has its own in house R department. They instruct the control of input of raw material and in the process quality control and checking of finished goods. Various tests on improvements to the product, product addition or deletion are conducted. In R department the importance is given to finest quality garments. From the sales department they get the information about the market i. e. , feedback. Associates do all material requirements. R department gives the quality specification.
PERSONNAL DEPARTMENT: Everybody knows that an organisation achieves its ends by a proper utilization of the monetary, material and human resources at its command. While and human resource that all the other resources are mobilized and utilized to achieve organisational objectives. This human resource is the most important of the resources, without it, an organisation cannot accomplish its objectives. The number, variety and complexity of the functions of personnel management raise a question that who should discharge the functions of the personnel department in an industrial establishment.
To begin with, every manager and every supervisor. To begin with, every manager and every supervisor discharges some of these functions; for example, the motivation of employees to greater output and efficiency. Some managers and supervisors are involved in the selection, appointment and promotion of personnel and in disciplining formal employees. However, by and large, there is one person who discharges the main function and co-ordinates certain personnel functions discharged by various other managers and supervisors. Organizational Chart Managing Director
Chief Executive Officer Area General Manager Area Manager Assistant Shift Manager Shift Manager ANALYSIS & INTERPRATION OF DATA: Definition of Analysis- Analysis is the process of breaking a complex topic or substance into smaller parts to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle, though analysis as a formal concept is a relatively recent development. It is the process of placing data in ordered form, combing them with existing information’s and extracting meaning from them.
Interpretation is the process of drawing; conclusions from the gathered data in a study. Analysis methods should be selected on the basis of whether or not they will be able to effectively answer the evaluation questions within each evaluation project. There are a number of considerations when selecting evaluation methods. The first is to make sure that the methods which are selected are appropriate and ethical for the groups involved in them. Appropriate ethical approval processes need to be followed where required and evaluators need to conform to appropriate ethical standards.
Methods selection in evaluation also needs to be very focused on value for money in terms of the selection of methods. There are usually limited evaluation resources and they need to be used wisely. Evaluation methods should be ‘fit for purpose’ in the sense that they provide the amount of information required at a level of certainty which is sufficient for the purpose of the evaluation. Types of analysis – In Economics • Business analysis, involves identifying the needs and determining the solutions to business problems • Agro ecosystem analysis Financial analysis, the analysis of the accounts and the economic prospects of a firm • Fundamental analysis, a stock valuation method that uses financial analysis • Technical analysis, the study of price action in securities markets in order to forecast future prices • Price Analysis, involves the breakdown of a price to a unit figure • Market analysis, consists of suppliers and customers, and price is determined by the interaction of supply and demand . In Statistics Analysis of variance (ANOVA), a collection of statistical models and their associated procedures which compare means by splitting the overall observed variance into different parts • Meta-analysis, combines the results of several studies that address a set of related research hypotheses • Time-series analysis, methods that attempt to understand a sequence of data points spaced apart at uniform time intervals Other types of analysis- 1. A Narrative Analysis tells a story using a lot of relevant & descriptive details; usually organized to tell the story in sequence.
The thesis is often implied, but, preferably, makes some specific, clearly articulated point about the story being told. 2. A Descriptive Analysis offers a detailed description through the use of objective or subjective language to describe some object (a person, place or thing; it may be a “social object” such as discrimination), & in the process, give the reader some dominant impression (the thesis) of the thing being described. 3. A Socio-Historical Analysis examines historical events utilizing social concepts.
While a historical analysis is merely a description of people & events from the past, a socio-historical analysis examines history using social concepts (see Social Theory below) such as the industrial revolution, urbanization, democratization, etc. 4. A Comparative Analysis explains how something is like or unlike something else. The items compared need to have a basis of comparison–that is, they need to be enough alike to warrant a comparison. 5. A SWOT Analysis addresses the strengths, weaknesses, opportunities, & threats to the topic.
This comprehensive type of analysis addresses a topic w/ the aim of taking action in relation to the topic. If an analysis demonstrates particular strengths & weakness, then particular opportunities & threats (actions) are implied. 6. A “Cause & Effect” Analysis demonstrates how the occurrence of one event correlates w/ a particular outcome. While there are many types of cause & effect relationships, for most assignments in the social sciences, the focus should be on social causes and social effects. It is also reasonable to examine how non-social (e. g. physical, biological, psychological, etc. causes also have social effects. 7. A Sociological Analysis utilizes one of the types of analysis described here while utilizing social concepts, processes, theories & one or more sociological paradigms. 8. A Statistical Analysis will generally be used to demonstrate a “cause & effect” relationship (i. e. a correlation) or a Comparison. Statistical Analysis should always assume that the reader does not understand statistics. Thus, Statistical Analysis should always be accompanied by the appropriate type of analysis, such as a Comparative Analysis or a “Cause & Effect” Analysis. . Document analysis – analysis of documents in order to extract themes in regard to the topic being evaluated. This can include all types of documents such as formal reports, minutes of meetings, memos and print media reports or electronic media transcripts. The analysis can range from a extraction of general themes to a tight, specific and detailed analysis. It may use either quantitative analysis (e. g. counting the number of times that a theme occurs) and/or qualitative analysis (e. g. identifying the major themes).
In either case it is important to document the criteria which are used to make decisions about rating and analysing material. 10. Outcomes logic model drawing – drawing outcomes models of any type that are then used to clarify thinking about all of the steps which are needed in order to achieve higher-level outcomes. These models are known by different names including: logic models, program logics, intervention logics, strategy maps, means-ends diagrams, results chains etc. ? Analysis technique used- Analysis technique followed in this project is statistical analysis.
Here statistical tools like percentage, average have been used and the collected data has been analyzed by using diagrams, graphs and charts. ? Types of charts used- In the analysis process various types of charts like column chart, bar chart, cone chart, pie chart, line chart, doughnut chart and area chart have been used. ? Overall percentage of sample size- Because of lack of time and resources the area covered for taking sample is limited to “koromangala”. So 4% of total population has been taken into consideration. The age of the respondents group vary between 20-40 years & above and teenagers. So all age group respondents have been approached for data collection and sampling. ? Tabulation of data-The process of tabulation involves combining and totaling of the collected data. It is one of the data in readily comprehensive form and attempts to furnish the maximum information contained in the data in the minimum possible space, without sacrificing the quality and usefulness of the data. So tabulation means the systematic presentation of the information contained in the data, in row and columns in accordance ith some salient features in characteristics. After tabulation the data must be analyzed. Researcher often uses statistical interpretation, which concentrates or what is average or what deviate from the average. Statistical interpretation shows how widely responses vary, how they are distributed in relation to the variable being measured. The analyses and interpretation of data may lead the researcher to accept or reject the hypothesis being selected. TABLE 4. 1 SHOWING THE AGE OF THE RESPONDENTS |AGE |NO.
OF RESPONDENTS |PERCENTAGE | |Below 20 years |25 |25% | |20-30 years |40 |40% | |30-40 years |20 |20% | |40 and Above |15 |15% | |TOTAL |100 |100% | ANALYSIS- The above table analysis the age of the respondents at Wills Lifestyle. 40% of the respondents are between the age of 20-30 years, 25% are teenagers, 20% fall in 30-40 years bracket and 15% of the respondents are 40 years and above. CHART 4. 1 SHOWING THE AGE OF THE RESPONDENTS [pic] INFERENCE- It is inferred that the respondents are not evenly distributed on the basis of age and a high percentage of the respondents are in the 20-30 years age group. TABLE 4. 2 SHOWING THE GENDER OF THE RESPONDENTS |GENDER |NO.
OF RESPONDENTS |PERCENTAGE | |Male |42 |42% | |Female |58 |58% | |TOTAL |100 |100% | ANALYSIS The above table analysis the gender wise classification of the respondents at Wills Lifestyle. It is seen that 42% of the respondents are males and 58% are females. CHART 4. 2 SHOWING THE GENDER OF THE RESPONDENTS [pic] INFERENCE- It is inferred that the survey group was not distributed evenly on the bases of gender and there were more females as compared to males. TABLE 4. 3 SHOWING THE OCCUPATION OF THE RESPONDENTS |OCCUPATION |NO. OF RESPONDENTS PERCENTAGE | |Student |35 |35% | |Professionals |15 |15% | |Businessm