INTRODUCTION: Organized retail is gaining tremendous importance in the recent times. On the other hand, the retail industry is also facing severe competition and those who are able to retain their customers are the ones that are able to succeed in the market place. The retail firms are spending a lot of their marketing resources to keep existing customers rather than to attract new ones. Customer satisfaction plays a key role in customer retention and also is a major differentiating factor among retail stores. Delivering satisfaction to the consumers has become one of the major drivers of profitability.
In this scenario, the firms have to work on what attracts consumers and what will make them not to shift their choice towards competitors. Working out strategies in this direction requires a thorough understanding of the preferences of the consumers on the attributes that are considered of much significance.
This study focuses on analyzing the consumer’s preferences of the specific attributes of retail store in Hyderabad, RTC X ROADS. The study starts with reviewing the earlier works in this area, the objective of the study and the research methodology used is then delineated.
A research design is the arrangement of condition for collection and analysis of the data in a manner that aims to combine relevance to the research purpose with the economy in procedure.
In fact the research design is the conceptual structure with in which research is conducted, it constitutes the blueprint for the collection, measurement and analysis of data.
STATEMENT OF THE PROBLEM:
The study is being conducted for the Big Bazaar store in RTC ‘X’ ROADS based in HYDERABAD city, to find out the customer preferences in choosing Big Bazaar. It is required to find out the preferences based on certain aspects (price, Income, levels selection of products satisfaction level of customers).
- To study the customer preferences in choosing Big Bazaar.
- To study the factors that is affecting the choice of customers in choosing a retail store.
- To study the factors that retain the customers who visit Big Bazaar
NEED OF THE PROJECT
Now day’s retail stores facing more competition in retailing business. Good store design increase the visiting of more customers in to the store and increase the store goodwill, and price also plays major factor to use the customer giving preference and selection of the store. And as industry research has shown, there is much need to know the customer expectations, customer preferences and their store choice’s(features) and we will find out solutions for designing effective store which will getting more customers and getting more profits.
SCOPE OF THE STUDY
The research is applicable in the area of customer decision making process for purchasing of products at Big Bazaar. The scope of research also helps in understanding the preferences of the customers. It would help Big Bazaar in designing their marketing promoting sales.
TYPE OF STUDY:
This research is completely based on the description of the factors that lead to the customer decision making process. It is basically valued on the various parameters which include personal details of customers, their income –level, satisfaction level. Here the need is to find which factor describes the consumer decision making process most effectively.
SOURCES OF DATA COLLECTION:
- The sources of data include both Primary and Secondary data.
- Primary data is collected with specific objective, especially to address the research problem. The data is gathered by distributing a questionnaire to the customers who visit big bazaar and through personal interview.
- Secondary data includes books, journals, magazines, news letters of the big bazaar, and internet.
The sample size taken for the study at big bazaar is 80.