vishal mega mart final project vishal
TRANSCRIPT
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A
PROJECT REPORT
ONIMPACT OF MARKETING ACTIVITIESFROM
NAMEOFTHECOMPANY
SUBMITTEDINPARTIALFULFILLMENTOFTHEREQUIREMENTSFORTHEAWARDOFTHEDEGREE
OF
MASTER OF BUSINESS ADMINISTRATION
2009-2011
SUBMITTED BY: - UNDER GUIDENCEOFRaj Hussain (Mr. Neeraj Juneja)
ROLL.NO.1203102100
Admission No. 12SOB102106
MBA- 3rd
SEM.
Galgotias UniversityYamuna Expressway Greater Noida
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CERTIFICATE OF INSTITUTE
This is to certify that Raj Husain is a bona fied student of MBA 3rd Semester
during session 2012-2014.Project Report entitled Impact of marketing
Activities Retail Management has been prepared by him in partial fulfillment
of the award of Master Degree in Business Administration of Galgotias
University Greater Noida. His report is satisfactory and not copied from
anywhere to the best of my knowledge.
We wish him a very bright and successful career.
Project Coordinator: (HOD)
Mr. Neeraj Juneja Prof. Sushil. Dixit
Date:
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AKNOWLEGMENT
I extent my gratitude to Mr. Jai Veer Singh The H.R. Managerand Mr. Lucky The H.R. Person of VISHAL RETAIL
LIMITED for giving me an opportunity to work on a very
interesting project.
It helped me to understand the functions of retail company, its
product and consumer behavior.
I also extent a word of thanks to Mr. Neeraj Juneja guide
faculty who helped me on this interesting project under their
guidance and support.
I also would like to thanks to Galgotias University. and thefaculty for providing me support and guidance during the
project.
My 45 day association with VISHAL MEGA MART has
enhanced my knowledge and understanding of corporate world
in Retail Sector in particular. All the interactions have been
really fruitful and have added to make this an enriching
experience.
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DECLARATION
This is Certify that myself Raj Hussain MBA Student Galgotias
University in Session 2012-2014
I have Undergone 45dayss summer Training in VISHAL MEGA MART
Gorakhpur.
I have completed my summer training as per G.U. Rule.
All the information that is given in Certificate is true as per my
Knowledge if there is any mistake any action can be taken against me.
Thanks
Signature
Date: Name- Raj Hussain
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TABLE OF CONTENT:
(1)Executive summary
(2) Objective of project
(3) Project profile
(4) Introduction of topic
(5) Company profile
(6) Swot Analysis
(7) Research methodology \\
(8) Sampling Technique
(9) Sample Size
(10) Sample Unit
(11) Sampling Area
(12) Recomendation
(13) Conclusion
(14) Questionnaires
(15) Bibliography
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EXECUTIVE SUMMARY
A summer Training project study and training was under taken with
VISHAL MEGA MART, An Indian leading Retail Company under the
guidance ofMr. Navin yadav, store manger and Mr.Vivek, asst. store
manager.
The training included study of consumer behavior to retail company and
competitive study of VISHAL MEGA MART with its competitors, study
of daily footfall and sales and Plano gram and to understand the retail
operations.
The behavioral study included a survey, which was carried out among the
various customers of VISHAL MEGA MART WELCOME. The
objective of the study was to understand the needs expectations and
requirement of customers and to what extent VISHAL MEGA MART is
reaching up to their expectations.
The competitive study included the study of offers, schemes and discount
for the customers given by VISHAL MEGA MART and its competitors.
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The study of daily footfall and sales included to study foot fall and sales
regularly and to compare that what day selling is falling and why it is
falling and selling can be increased.
This project report suggests prospective locations and site
where Vishal retail can open up its new stores. Area covered is
Gorakhpur where presently it has 1 stores. It also includes details
about the consumer who come at Vishal mega mart for shopping. A
survey was conducted to know behavior of consumers while they gofor shopping in a particular retail store.
A questionnairehas been drafted for the same, tounderstand
the psyche of the VISHAL MEGA MART customers to know their
needs and expectations which can be further utilized by the
company to gain a competitive edge over the competitors.
On the basis of analysis done and key finding, Gorakhpur region
was scanned and SWOT analysis of each and every corner was done
to find the prospective location where Vishal retail can open its
future stores.
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Retail operations like study of layouts, Plano gram, etc
These all things have enhanced my knowledge therefore once again I
would like to thanks to all those help me for this interesting project.
Thanking you
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Objectives of project
1. To study the consumer behavior with respect to VISHAL
MEGA MART.
2. Determine the factors that influence the decision of
customers.
3. To study the daily footfall and sales and how sale can
increase.
4. To understand the retail operations.
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1. INTRODUCTION OF RETAIL INDUSTRY
DEFINITION AND SCOPE OF RETAILING:
The word retail is derived from the French word retailer,
meaning to cut a piece off or to break bulk. In simple
terms, it implies a first-hand transaction with the customer.
Retailing can be defined as the buying and selling of goods
and services. It can also be defined as the timely delivery
of goods and services demanded by consumers at prices
that are competitive and affordable.
Retailing involves a direct interface with the customer and
the coordination of business activities from end to end-
right from the concept or design stage of a product or
offering, to its delivery and post-delivery service to the
customer. The industry has contributed to the economic
growth of many countries and is undoubtedly one of the
fastest changing and dynamic industries in the world
today.
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TYPES OF RETAIL
The retail industry is divided into organized and unorganized
sectors.
1.ORGANIZED RETAIL :
Organized retailing refers to trading activities undertaken by
licensed retailers, that is, those who are registered for sales tax,
income tax, etc. These include the corporate-backed
hypermarkets and retail chains, and also the privately owned
large retail businesses.
Organized Retail 3%
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2-UNORGANIZED RETAIL :
Unorganized retailing, on the other hand, refers to the traditional
formats of low-cost retailing, for example, the local shops,
owner manage general stores, provision shops, convenience
stores, hand cart and pavement vendors, etc.
Unorganized Retail 97%
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POPULAR RETAIL FORMATS IN INDIA :
There are following formats:
Malls: These are the largest form of retail formats. They
provide an ideal shopping experience by providing a mix of
all kinds of products and services, food and entertainment
under one roof. Examples are Sahara Mall, TDI Mall in
Agra.
Specialty Stores:The retail chains, which deal in specific
categories and provide deep assortment in them are specialty
stores. Examples are RPG's Music World, Mumbai's
bookstore Crossword, etc.
Discount stores: These are the stores or factory outlets
that provide discount on the MRP items. They focus on mass
selling and reaching economies of scale or selling the stock left
after the season is over.
Hypermarkets/Supermarkets: These are generally
large self-service outlets, offering a variety of categories with
deep assortments. These stores contribute 30% of all food
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and grocery organized retail sales. Example: Big Bazaar.
VISHAL MEGA MART, SPENCER HYPER, etc.
Convenience stores: They are comparatively smallerstores located near residential areas. They are open for an
extended period of the day and have a limited variety of stock
and convenience products. Prices are slightly higher due to
the convenience given to the customers.
E-Retailers: These are retailers that provide online facility
of buying and selling products and services via Internet. They
provide a picture and description of the product. A lot of such
retailers are booming in the industry, as this method
Convenience and a wide variety for customer. But it does not
provide a feel of the product and is sometimes not authentic.
Examples are Amazon.com, Ebay.com, etc.
Vending: This kind of retailing is making incursions into
the industry. Smaller products such as beverages, snacks are
some the items that can be bought through vending machines.
At present, it is not very common in India.
Mom-and-pop stores: These are generally family-owned
businesses catering to small sections of society. They are
small, individually run and handled retail outlets.
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Category killers: Small specialty stores have expanded to
offer a range of categories. They have widened their vision in
terms of the number of categories. They are called categorykillers as they specialize in their fields, such as electronics
(Best Buy) and sporting goods (Sport Authority).
Department stores: These are the general merchandise
retailers offering various kinds of quality products and
services.
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IMPACT OF RETAIL ON THE ECONOMY :
1.A booming USD 300 Billion retail market in India. It is the
9th
largest retail.
2.10% annual growth in Indian retail market since 2000.
3.The organized retail sector is growing at 40-45% followed by
greater china at 27%.
4.India has one retail outlet per 90 people, one of the highest
densities of the world.
5.8% of the Indian population is employed by the retail sector
;( 22 million people) second only to agriculture.
6.The retail industry in India accounts for 10% of the GDP.
7.Ranked second in a Global Retail Development Index of 30
developing countries drawn up by AT Kearney.
8.India is rated the fifth most attractive emerging retail market:
a potential goldmine.
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GLOBAL AND INDIAN RETAIL PLAYERS:
1.GLOBAL PLAYERS :
(1) WALMART
(2) KINGFISHER
(3) COSTCO
(4) TESCO
(5) CARREFOUR
(6) TARGET
(7) KMART
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2. INDIAN PLAYERS:
(1) VISHAL MEGA MART
(2) BIG BAZAR
(3) BIG APPLE
(4) RELIANCE
(5) PANTALOON
(6) MORE
(7) INDIA BULLS
(8) SUBHIKSHA
(9) PIRAMYD
(10) DABUR
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INTRODUCTION OF VISHAL MEGA MART
http://www.vishalmegamart.net
A short note on company profile:
What started as a humble one store enterprise in 1986 in
Kolkata (erstwhile, Calcutta) is today a conglomerate
encompassing 126 showrooms in 83 cities / 20 states. Indiasfirst hyper-market has also been opened for the Indian consumer
by Vishal. Situated in the national capital Delhi this store boasts
of the singe largest collection of goods and commodities sold
under one roof in India.
The group had a turnover ofRs. 1463.12 million for fiscal 2005,
under the dynamic leadership of Mr. Ram Chandra Aggarwal.
The group had of turnover Rs 2884.43 million for fiscal 2006
and Rs. 6026.53 million for fiscal 2007
The groups prime focus is on retailing. The vishal stores offeraffordable family fashion at prices to suit every pocket.
The groups philosophy is integration and towards this end has
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initiated backward integration in the field of high fashion by
setting up a state of the art manufacturing facility to support its
retail endeavors.
Vishal is one of fastest growing retailing groups in India. Its
outlets cater to almost all price ranges. The showrooms have
over 70,000 products range which fulfills all your household
needs, and can be catered to less than one roof. It is covering
about 24, 04,982 sq. ft. in 20 states across India. Each store
gives you international quality goods and prices hard to match.
The cost benefit that is derived from the large central purchase
of goods and services is passed on to the consumer.
Annual turn over of the company:
The group had a turnover ofRs. 1463.12 million for fiscal
2005.
The group had of turnoverRs 2884.43 million for fiscal 2006.
Rs. 6026.53 million for fiscal 2007.
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Ambitious growth plans
Vishal Retail continues to have ambitious growth plans,
targeting 190 stores with over 3.7 million square feet by FY-09
and over 500 stores with 10 million sq ft by FY-11. It also
intends to invest in logistics, restaurants and consumer PE fund
(similar to that run by Pantaloon).
Expansion is to be led by Tier-3 and Tier-4 towns, which might
mean lower ticket sizes and average sales per sq ft, although
profitability may remain at the same levels due to lower rent and
employee costs.
To meet its expansion plans for the next three years, Vishal
would have to invest about Rs 2,500 corer. The company has
little by way of internal accruals. Vishal intends to fund its
expansion plans through a 2:1 combination of debt and equity. It
is already heavily leveraged and bears an interest cost of 11.75
per cent on its loans. This could go up in a rising interest rate
environment. These circumstances call for a moderation in
growth expectations.
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BUSINESS STRATEGY:
Company competitors:
1.BIGBAZAR
2.PANTALOON RETAIL
3.SALASAR
4.SPENCER
5.SUBHIKSHA
6.RELIANCE RETAIL
7.INDIA BULLS RETAIL
8.DABUR RETAIL
9.SABAKA BAZAR
10. MORE
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SIZE OF THE COMPANY:
Total no. of showrooms in all
India.
126 showrooms
Total area covered by Vishal
Retail in India.
24, 04,982 sq. ft..
Total no. of states in whichVishal is situated.
20 states across India.
Total no. of cities in which
Vishal is situated.
83 cities.
Total no. of products. About 70,000
Total no. of showrooms in all
north zone.
81
Total area covered by Vishal
Retail in North zone
13,99,096 sq. ft.
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FOUNDER OF THE COMPANY:
Mr. Ramchandra Agarwal Mrs. Uma Agarwal Mr. Surendra
Agarwal
Mr. Ram Chandra Agarwal(HUF), Unicon Marketing Private
Limited, icon Commodities Private Limited and Vishal Water World
Private Limited.
Promoter Group:
Mrs. Santa Devi Agarwal,
Mr. Rajendra Kumar Agarwal,
Mrs. Sunita Agarwal,
Master Sudhanshu Agarwal,
Master Rohit Agarwal,
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Master Akash Agarwal,
Ms. Shreya Agarwal,
Mrs. Shakuntala Todi,
Mrs. Sushila Adukia,
Mr. SantoshBajoria,
Mrs. Krishna Bajoria,
Mr. Hemant Bajoria,
Mr. Raj Kumar Bajoria,
Mrs. Renu Agarwal,
Mrs. Karuna Agarwal,
Mrs. Madhu Kothari,
Island Enterprises
And Sunita Fashion Private Limited
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Prospectus The prospectus filed with the Roc in terms of Section 60 of
the Companies Act, containing, among other things, the Issue Price that
is determined at the end of the Book Building Process, the size of the
Issue and certain other information.
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Introduction of VISHAL MEGA MART WELOME
STORE
Location of the store:
Store is situated on WELCOME NEAR BY WELCOME
METRO STATION.It is the main point of Delhi and good for selling.
There are many colonies nearby store like Loni, Shahadra,
Avas Vikas Colony etc. This area is full of customers and there
are no big competitors of VISHAL MEGA MART in that area.
Store Management:
1. Store Manager : Mr. Navin yadav
2. Asst. Store Manager : Mr. Vivek
3. Admin. : Mr. Pratap singh panwar
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Store Size:
Total no. of floors. 2
Total Area. 19500 sq. ft.
Average sale per month. About 100,00,000.00/month.
Competitors in that Area:
There is no big competitor of Vishal Mega Mart in that area.
There are only two small competitors.
1.SALASAR
2.SUBHIKSHA
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STUDY THE CONSUMER BEHAVIOUR
The Behavior that consumers display in searching for,
purchasing, using, evaluating, and disposing of products,
services, and ideas.
FOCUS ON WHAT IT MEANS
Consumer Behavior focuses on how individuals make decisions
to spend their available resources i.e. TIME, MONEY, and
EFFORT on CONSUMPTION related items.
To study on consumer behavior I took help of the following
questioner.
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Data collection methods :The Quantitative data collection methods rely on random sampling
and
structured data collection instruments that fit diverse experiences
into
predetermined response categories. They produce results that are
easy to summarize, compare, and generalize. Quantitative
research is concerned with testing hypotheses derived from theory
and/or being able to estimate the size of a phenomenon of
interest. Depending on the research question,
participants may be randomly assigned to different treatments. If
this is not feasible, the researcher may collect data on participant
and situational characteristics in order to statistically control for
their influence on the dependent, or outcome, variable. If the intent
is to generalize from the research participants to a larger
population, the researcher will employ probability sampling to
select participants. Typical quantitative data
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OUT PUT OF STUDY ON CUSTOMER
BEHAVIOUR
1.Out of 500, 260 customers like vishal and rest like big
bazaar.
2.Out of 500 , 290 customers visited vishal once in a week and
110 once in a month and 70 once in a day and 30 once in 2
day
3.390 customers prefer vishal due to variety of products and 80
like offers & schemes and few customers come to vishal due
to location.
4.380 customers out of 500 like home ware & house hold and
more than 100 customers like appraisal section.
5.360 customers out of 500 are satisfied with vishal prices.
6.265 customers are satisfied with quality.
7.380 customers are satisfied with employeesbehaviors.
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8.430 customers out of 500 prefer cash payments.
9.320 customers comes from 0-5 kilometers, 180 customers
comes from above 05 kilometers.
10.180 customers come by cars &320 customers come by
others.
11.170 belongs to age group 15-25
130 belongs to age group 25-35
70 belongs to age group more than 45
12. 190 are student, 110are business, 75 are professionals, 30
are serviceman, and 95 are house hold out of 500.
13.270 belongs to income group nil, 172 belongs to
10000-20000 and 45 belongs to 20000-40000 and
Remaining to 40000-80000.
14.500 out of 500 customers say that will visit vishal store.
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LIMITATIONS OF THE STUDY:
Sometime respondents are not taking interest in such
Type of surveys therefore there is chance that they might
Be giving wrong information.
The respondents are free from all barriers so he/she can
Give his/her opinion which may not be true in manyOccasions.
The staff of the Vishal only provides/ communicates the
Merits of its products
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STUDY OF PLANOGRAM:
A Program is a diagram of fixtures and products that illustrates
how and where retail products should be displayed, usually on a
store shelf.
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The ABC of a Plan-o-gram
Plan-O-Gram is a map of the category as represented in thestore. It gives the position of each SKU in the store. The
Purpose of a Plan-o-gram being:
Ease of shopping: The primary objective of any Plan-o-gram
should be customer convenience. If the customer does not find it
convenient to shop, then a plan-o-gram, no matter how hi-tech,defeats the purpose of its existence. For instance, if a five liter
can of cooking oil is kept on a higher shelf, it goes without
saying that a customer will find it extremely inconvenient to
pick it. Also, products that are normally bought together should
have adjacency.
Ease of display: A plan-o-gram helps the store personnel stack
products to the desired effect each time. This is achieved by
marking the designated place of each product on the shelf
through shelf tickets. This will help in ensuring a standard
look for the store every time and it will also make life simpler
for the store person responsible for stacking the products
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Aesthetics: A well-designed plan-o-gram has to be visually
appealing. For instance if one were to stack shampoo bottles of
all sizes side by side on the same shelf, it may not look as goodas if one were to stack it as per the different sizes available.
Tactical benefits: A plan-o-gram can be used to achieve higher
sales and margins on a long-term perspective. However the
same can be true from a tactical point of view. A plan-o-gramcan be redesigned to gain tactical mileage during specific
seasons (deodorants in summer, lotions in winter) or during
special promotions (more visibility for a buy one get one free
offer).
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STUDY OF SALES AND FOOTFALLS
SALE:
An exchange of goods or services for currency or credit; a
particular opportunity for a sale; the activities involved in
selling goods or services; the sale of goods at reduced prices;
the act of putting up for auction to the highest bidder
FOOTFALL:
The Number of people visiting a shop or a chain of shops in a
period of time.
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SWOT ANALYSIS
STRENGTHS
Right products market VISHAL MEGA MART quality
And reliability.
Superior product performance vs. competitors.
Brand Image.
Products have required accreditations.
High degree of customer satisfaction.
WEAKNESSES
Not very popular in the international market.
Customer service staff needs training.
Team members, team leaders and floor managers also needs
training.
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OPPORTUNITIES
Profit margins will be good.
Could extend to overseas.
Could seek better supplier deals.
An applied research centre to create opportunities for
developing techniques to provide added-value services.
THREATS
Vulnerable to reactive attack by major competitors.
Lack of infrastructure in rural areas could constrain investment.
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Research Methodology:
1.Prepare the questionnaire to get the responses of customers.
2.Comparative analysis of the responses obtained.
3.Walk in the competitors stores and get useful data and
Analysis.
4.Obtain the secondary data from the store and analyses.
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Type of Research: -
Descriptive research
(Descriptive research includes Surveys and fact-finding enquiries
of different kinds. The main characteristic of this method is that
the researcher has no control over the variables; he can only
report what has happened or what is happening.)
SAMPLE SIZE: 75.
METHOD OF SAMPLIjNG: - NON PROBABILITY SAMPLING
(CONVINIANCE SAMPLING)
TO FILL THE QUESTIONAIR I RENDOMELY SELECT THE CUSTOMERS 0F
ALL AGE GROUPS FROM EACH SECTIONS.
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Data Sources:
Primary Data:
Data for consumer behavior, study of Plano gram, comparative
study I obtained primary data
Secondary Data:
Data for study of daily footfall and sales, analysis for fast and
slow moving products etc I obtained secondary data from the
store.
Expected Benefits:
1.To find out the satisfaction level of customers.
2.To compare with competitors.
3.Recommendations for improve customer satisfactions and to
Improve selling.
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ANALYSIS ON DATA
1.EVERY MONTH SALE IS DECREASING DUE TO
CERTAIN REASIONS
A. RAINY DAYS : Since these days were rainy days so
footfall is less than other months
B. PHYSICAL COUNTING 0N EVERY MONDAY:
Due to physical counting team member are busy in
counting on every Monday and Tuesday, this also effect
the selling.
C.Due to good planning of competitors
D.Some others
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SUGGESTIONS TO INCREASE SELLING
A.By giving more offers and discount on dead moving products.
B.By giving advertisement through local newspaper and cable
operators.
C. By giving the attractive gift voucher on the certain amount of
purchasing.
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REGIONAL PREFERENCES OF MERCHANDISE:
According to the data provided by the questionnaire customer
come to store from the places near by store. Maximum
customers cover about 5 Km.
Customers like VISHAL MEGA MART due to variety of
products and offers and scheme on them.
According to survey 60 % customers like home ware and
household and also more than 50 % customers like apparel. The
like apparel due to variety of products and quality of
products and their reasonable price.
The FMCG section is more famous of BIGBAZAR than
VISHAL MEGA MART due to offers and discount on products
and availability of products.
The products which customers want but are note in VISHAL
MEGA MART.
There are so many products in FMCG and Techno Mart sections
that are frequently demanded by the customers but are not
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available in VISHAL MEGA MART due to this selling is
affected.
1.FMCG SECTION:
Food:
1.Rattan Bhog Atta (Local Brand).
2.Rath Vanaspati.
3.Fortune mustered oil 15 liter.
4.Safola refined 15 liter.
5.Chambal soybean oil.
6.Dairy milk chocolates.
7.Uncle chips.
8. Lijjat papad.
9.Cold Coffee.
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10. Dairy Whither (Dry milk).
11. Milk maid.
12. Kappa noodles.
13. Acqua final mineral water
Non Food:
1.Garnier facial cream.
2.Ponds face wash.
3.Sai Dhoop.
4.Sai Agrabatti.
5.Colgate tongue cleaner.
6.Pepsodant tongue cleaner.
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7.Dabber mustard hair oil.
8.Fauna surf.
9.Ghadi surf.
10. Himalaya conditioner.
11. Clinic all clear conditioner.
12. Set wet gel green and blue.
Life Style:
Products name companies name
1.Kajal Color bar
2.Triple act compact Color bar
3.Eye pencil Color bar
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4.Compact face powder Revlon
5.V.T. Lipstick Revlon
6.Lip liner Revlon
7.Pencil Kajal Revlon
8.Gillette shaving kit
9.Lakmi sun block lotion
10. Lakmi moisturizer
Techno Mart:
TELEVISION
1.L.G.
2.Oneida.
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3.Sony.
4.Samsung.
5.Videocon.
Washing Machine
1.L.G.
2.Videocon.
Freeze
1.L.G.
2.Whirlpool.
3.Samsung.
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DVD:
1.L.G.
2.Sony.
DVD Home Theater
1.Philips.
2.Sony.
3.Intel.
A.C.
1.Videocon.
2.L.G.
3. Samsung.
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LCD:
1.L.G.
2.Sony.
Product analysis for fast and slow moving products:
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ANALYSIS:
The fast moving and slow moving depend on the following
points.
1. Offers and scheme on the products.
2. Display mode of the products.
3. Price of the products.4. Brand of the product.
5. Quality of the product.
6. Off season and on season for the product.
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SOME SUGGESTIONS TO MAKE PRODUCTS
FAST MOVING :
1. By giving attractive offers and scheme on products.
2. By improve display of slow moving products.
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COMPARATIVE STUDY FOR VISHAL WITH OTHERS
COMPETITORS IN THAT AREA.
VISHALMEGA
MART
Shopping from
food mart
sections Rs
999 get 05 kg
sugar free. In
Rs105 get 05
kg Atta free
.Home foil
Rs.63 Buy 1
get 1 free.
Colgate family
pack Rs 79 300
gm +extra
clean tooth
brush free
coke 2 liter (all
BIGBAZAR
Home foil
01 in Rs.63
and 03 Rs
88.
Colgate
family
packs 300
gm in Rs
79.
Pantene /
head &
shoulder
750 ml in
30 % off.
All variant
cold drinks
2 liter with
SALASAR
Home foil at
Rs.42 10 %
off.
Shakhty
bhog Atta 10
kg at Rs.160
SUBHIKSHA
On purchasing
of Rs2000 &
above get 05 kg
sugar free.I f purchase
whole month
get 5 % off.
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variant) buy 01
in Rs 50 &2 in
Rs 85.fortrunesoya oil in Rs
90.Dhara
mustard oil Rs
82. Shakti bhog
Atta 10 kg
Rs183 .Sugar
in 5 kg at Rs.95
Rooh afza 700
ml at Rs 88.
02 at
Rs.85.
Topsnoodles
Buy 01 get
01 free
Fortune
soya oil at
Rs.78.
Mustard oil
in Rs 85
Shakti
bhog Atta
10 kg in Rs
184
Sugar 5 kg
Rs101
Rooh afza at
Rs 88
Sugar 5 kgRs.101
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VISUAL MERCHANDISING
Visual Merchandising (VM) is the art of presentation, which
puts the merchandise in focus. It educates the customers,
creates desire and finally augments the selling process. This is
an area where the Indian textile and clothing industry,
particularly, the SMEs lack adequate knowledge and expertise.
This inadequacy is best reflected in poor presentation/display
and communication in various national and international
exhibitions.
VM helps in:
Educating the customers about the product/service in an
effective and creative way.
Establishing a creative medium to present merchandise in 3D
environment, thereby enabling long lasting impact and recall
value.
Setting the company apart in an exclusive position.
Establishing linkage between fashions, product design and
marketing by keeping the product in prime focus.
Combining the creative, technical and operational aspects of a
product and the business.
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Drawing the attention of the customer to enable him to take
purchase decision within shortest possible time, and thus
augmenting the selling process.
STATUS OF VM IN INDIA:
Unlike the western countries, where VM receives highest
priority in commercial planning of a product, the Indian
industry understands and practice of the concept of VM is
inadequate. With phasing out of quantitative restrictions after
the year 2004, the textile industry will have to compete purely
on the competitive edge of the products and VM will be a
helpful tool in projecting
The uniqueness of the products and thereby increasing the
market access and sales. It is high time that the Indian textile
and clothing industry, therefore, understands and adopts the
scientific and professional system of VM rather than the
traditional practices of display of products and communication.
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ANALYSIS REGARDING FOLLOWING POINTS :
Layouts.
Display modes.
Developing themes.
Display and sin age.
Layouts:
The arrangement of all layouts is good. All lay outs like AC
LAYOUT, CCTV Layouts, IT layout, Gondola lay out are
working well. There are some negatives also.
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1.Store Layout:
Store layout is good. All store covers 36700 sq. ft. area. Itcovers three floors. But in rainy days store is filled with water
and there is no arrangement for this. After rain it take time to
clean the store and throw the water from the store due to this
customers have to suffer and this also affect the selling and
footfall.
2.Gondola Layout:
There are proper gondolas and there is proper arrangement
for gondolas but some part of gondolas is always empty, it
create negative image in the eye of customers.
3.A.C. Layout:
All AC are working well and are proper arranged.
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4.Light Layout:
There is again negative thing in light when current goes there isdeep dark in 1
stand 2
ndfloor it creates a problem to customers
and it takes time to start a generator therefore there should some
arrangement for emergency light of inverter on each floor.
Display modes:
There is proper display. For apparel section they use standees
for display but here also some weakness like..
1.Customer face problem in searching the right size of apparel
for them, there fore display should be size wise with their
rates.
2.In FMCG Section many product were not put on their right
place according to their price information slip.
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Developing Themes:
There are so many developing things like..
1. Continuous announcement of offers and schemes through
customer service desk counter.
2. Proper use of signage and standees.
3. Use of lucky draw coupon.
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CONCLUSION:
Generally customer come from home in store, they like variety
in the
Products offers and schemes.
Customer give preferences in home ware & house hold
products.
According to survey 60% customer also like home ware &
house hold
Products and same 60% customer also like appraisals due to
variety of
Products and quality as well as reasonable prices.
According to survey more than 80% customer like vishal mega
mart than
Big Bazaar and 20% customer like due to mall.
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Recomendation
1.Many products which are demanded by the customers are not
in VISHAL MEGA MART.
2.There are few verities in techno mart section.
3.Team members do not attract customers.
4.In rainy days store is filled with water and there is no
arrangement for this. After rain it take time to clean the store
and throw the water from the store due to this customers have
to suffer and this also affect the selling and footfall.
5.Some part of gondolas is always empty, it create negative
image in the eye of customers.
6.There is again negative thing in light when current goes there
is deep dark in 1st
and 2nd
floor it creates a problem to
customers and it takes time to start a generator.
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7.Customer face problem in searching the right size of apparel
for themselves.
8.In FMCG Section many product were not put on their right
place according to their price information slip.
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Suggestions:
1.There should be all regional preference products.
2.There should be arrangement for entertainment of children.
3.There should be a small type of Restaurant.
4.There should be all variety of products in Techno Mart.
5.Team members should be trained to attract customers.
6.Gondolas should not be empty.
7.There should be some arrangement for emergency light of
inverter on each floor.
8. The display of apparel should be size wise with their rate.
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RETAIL TERMINOLOGY:
Gondola
It is the assembled non-trading item which is used to display the articles
to be sold.
Tiny winy
It is the assembled aluminum-glass frames as counters with two part
assembly, it is used to display the goods which are expensive or small or
both - to carry or for display purpose.
Average Inventory Cost/ Moving Average Price
Average inventory cost is found by adding the beginning cost inventory
for each month plus
the ending cost inventory for the last month in the period.
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Brand
A brand is a name, symbol or other identifying mark for a seller's goods
or services. It is distinct from other sellers.
Break-Even Point
The point in business where the Net profit becomes equals to the
expenses. There is no profit and no loss.
Business Plan
A detailed document describing the past, present and future financial and
operational objectives of a company.
Cash Discount
A percentage reduction in price for payment within a specified period of
time.
Cash Flow
The movement of money in and out of a business and the resulting
availability of cash.
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Chain Store
Number of retail stores under the same ownership and dealing in the
same merchandise.
Contribution Margin
Contribution Margin is the difference between total sales revenue and
total variable costs. The term is applied to a product line and is generally
expressed as a percentage.
Cost of Goods sold
The price paid for the product, plus any additional costs necessary to get
the merchandise into inventory and ready for sale, including shipping andhandling.
Coupon
A promotional tool in the form of a document that can be redeemed for a
discount when purchasing goods or services. Coupons feature specific
savings amount or other special offer to persuade consumers to purchase
specific goods or services or to purchase from specific retailers.
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CRM - Customer Relationship Management
Customer Relationship Management (CRM) is a business strategy
designed to reduce costs and increase profitability by strengthening
customer loyalty.
Gross Margin Return on Investment
A measure of inventory productivity that expresses the relationship
between your total sales, the gross profit margin you earn on those sales,
and the number of dollars you invest in inventory.
Gross Margin
Gross margin is the difference between what an item costs and for what itsells.
Inventory Turnover
The number of times during a given period that the average inventory on
hand is sold and replaced.
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Keystone
Keystone pricing is a method of marking merchandise for resell to an
amount that is double the wholesale price.
Loss Leader
Merchandise sold below cost by a retailer in an effort to attract new
customers or stimulate other profitable sales.
Loss Prevention
Loss prevention is the act of reducing the amount of theft and shrinkage
within a business.
Marketing Calendar
Marketing calendar is a tool used by retailers to show what marketing
events, media campaigns and merchandising efforts are happening when
and where, as well as the results.
Markup
Percentage added to the cost to get the retail selling price.
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Minimum Advertised Price
Suppliers pricing policy that does not permit its resellers to advertise
prices below some specified amount. It can include the resellers retail
price as well.
Odd-Even pricing
A form of psychological pricing that suggests buyers are more sensitive
to certain ending digits.
Open-to-Buy
Merchandise budgeted for purchase during a certain time period that has
not yet been ordered.
Operating Expenses
The sum of all expenses associated with the normal course of running a
business.
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Plano gram
Visual description, diagram or drawing of a store's layout to include
placement of particular products and product categories.
Point-of-Purchase Display
Point-of-purchase displays, or POP displays, are marketing materials or
advertising placed next to the merchandise it is promoting. These items
are generally located at the checkout area or other location where the
purchase decision is made. For example, the checkout counters of many
convenience stores are cluttered with cigarette and candy POP displays.
POS
Point of Sale (POS) refers to the area of a store where customers can
pay for their purchases. The term is normally used to describe systems
that record financial transactions. This could be an electric cash register
or an integrated computer system which records the data that comprises a
business transaction for the sale of goods or services.
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Private Label
Products which are generally manufactured or provided by one company
under another company's brand.
Product Life Cycle
The stages that a new product is believed to go through from the
beginning to the end: Introduction, Growth, Maturity and Decline.
Purchase Order
A purchase order (PO) is a written sales contract between buyer and
seller detailing the exact merchandise or services to be rend from a single
vendor.
Quantity Discount
A reduction in price based on the amount purchased. It may be offered in
addition to any trade Discount.
Retailing
The sale of goods or commodities in small quantities directly to
consumers.
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Sales Floor
The sales floor is the location of a retail store where goods are displayed
and sales transactions take place. For example, the receiving of
merchandise takes place in the stock room, but all direct sales and
customer interactions are done on the sales floor.
Shoplifting
Shoplifting is the theft of property and which occurs with the intent to
deprive the owner of that piece of property. The crime of shoplifting is
the taking of merchandise offered for sale without paying.
Shrinkage
Retail shrinkage is a reduction or loss in inventory due to shoplifting,
employee theft, paperwork errors and supplier fraud.
SKU
The Stock Keeping Unit (SKU) is a number assigned to a product by a
retail store to identify the price, product options and manufacturer.
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Soft lines
A store department or product line primarily consisting of merchandise
such as clothing, footwear, jewelry, linens and towels.
Staple Goods
Staple goods are products purchased regularly and out of necessity.
Traditionally, these items have fewer markdowns and lower profit
margins. While price shifts may raise or lower demand for certain kinds
of products, the demand for staple goods rarely changes when prices
change.
Trade Credit
Open account with suppliers of goods and services.
Trade Discount
Discount on the list price given by a manufacturer or wholesaler to a
retailer.
Visual Merchandising
Visual merchandising is the art of implementing effective design ideas to
attract the footfalls and convert them in customers inside the store.
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Wholesale
Wholesale is the sale of goods, generally in large quantity, to a retailer
for resale purposes.
Impulse purchase
Purchases made without any planning
Foot falls (Walk-ins)
No. of people who enter the stores
Conversion
No. of people (walk-ins) who purchased at the store (expressed as a
percentage)
Tills Billing counters
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BIBLIOGRAPHY:
http://www.vishalmegamart.net/
http://www.thehindubusinessline.com/catalyst/2004/01/08/storie
s/2004010800090300.htm
http://www.google.co.in/search?hl=en&cr=countryIN&defl=en
&q=define:sale&sa=X&oi=glossary_definition&ct=title
http://www.google.co.in/search?hl=en&q=define%3A+footfall
&meta=cr%3DcountryIN
http://retail.about.com/od/glossary/g/visual_mdse.htm
http://www.businessgyan.com/content/view/551/472/
http://www.google.co.in/search?hl=en&cr=countryIN&defl=en
&q=define:Planogram&sa=X&oi=glossary_definition& ct=title
http://www.thehindubusinessline.com/catalyst/2004/01/08/stories/2004010800090300.htmhttp://www.thehindubusinessline.com/catalyst/2004/01/08/stories/2004010800090300.htmhttp://www.google.co.in/search?hl=en&q=define%3A+footfall&meta=cr%3DcountryINhttp://www.google.co.in/search?hl=en&q=define%3A+footfall&meta=cr%3DcountryINhttp://retail.about.com/od/glossary/g/visual_mdse.htmhttp://www.businessgyan.com/content/view/551/472/http://www.google.co.in/search?hl=en&cr=countryIN&defl=en&q=define:Planogram&sa=X&oi=glossary_definition&http://www.google.co.in/search?hl=en&cr=countryIN&defl=en&q=define:Planogram&sa=X&oi=glossary_definition&http://www.google.co.in/search?hl=en&cr=countryIN&defl=en&q=define:Planogram&sa=X&oi=glossary_definition&http://www.google.co.in/search?hl=en&cr=countryIN&defl=en&q=define:Planogram&sa=X&oi=glossary_definition&http://www.businessgyan.com/content/view/551/472/http://retail.about.com/od/glossary/g/visual_mdse.htmhttp://www.google.co.in/search?hl=en&q=define%3A+footfall&meta=cr%3DcountryINhttp://www.google.co.in/search?hl=en&q=define%3A+footfall&meta=cr%3DcountryINhttp://www.thehindubusinessline.com/catalyst/2004/01/08/stories/2004010800090300.htmhttp://www.thehindubusinessline.com/catalyst/2004/01/08/stories/2004010800090300.htm -
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http://www.chillibreeze.com/articles_various/IndianRetailSc
enario.asp
http://business.mapsofindia.com/india-retail-
industry/indian-organized-retail-market.html
www.google.com
www.bigbazaar.com
www.retailbiz.com
http://www.consumeronline.org/
Www. retailyatra.com
http://business.mapsofindia.com/india-retail-industry/indian-organized-retail-market.htmlhttp://business.mapsofindia.com/india-retail-industry/indian-organized-retail-market.htmlhttp://business.mapsofindia.com/india-retail-industry/indian-organized-retail-market.htmlhttp://www.google.com/http://www.bigbazaar.com/http://www.bigbazaar.com/http://www.google.com/http://business.mapsofindia.com/india-retail-industry/indian-organized-retail-market.htmlhttp://business.mapsofindia.com/india-retail-industry/indian-organized-retail-market.html -
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QUESTIONNAIRE
Q1. Do you know about the discounts and schemes running in the store?
(A) yes (B) no (C) sometimes (D) every times
Q2. How Vishal can be compared with competitors in respect of, marketing activity?
(A) average (B)good (C)very good (D) excellent
Q3. According to the promotional ads. given in the newspaper do you find schemes
Implemented at the store level?
(A) yes (B) no (C) sometime (D) every time
Q4. Were the announcement made at the store level is making for updating schemes?
(A) yes (B) no (C) sometime (D) every time
Q5. To promote sales we need to increase marketing activities by-
(A).Double (B).Triple (C).Sometime (D).Every time
Q6. Marketing activities help us to improve sales?
(A) yes (B) no (C) sometime ( D) every time
Q7. Marketing activities help us to improve sales?
(A) yes (B) no (C) sometime ( D) every time
Q8 Which sort of marketing activity plays a pivotal role in pushing the customer towards
The store?
(A)display (B) space selling (C) promoters (D) others
Q9. Can we include regular discount and promotion as the part of marketing activity?
(A) yes (B) no (C) sometime (D) every time
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Q10. Are the people happy with the promotional events at the store level?
(A) yes (B) no (C) sometime (D) every time
Q11. Can loyalty program me increase to fulfill at the conversion of store level?
(A) yes (B) no (c) sometime (D) every time
Q12. Effective segmentation can be integral part of retail marketing?
(A) yes (B) no (C) sometime (D) every time
Q13. Scheme like free parking, Meander and others should be part of daily promotion
(A) yes (B) no (C) sometime (D) every time
Q14. Are our stores employees give right pre sales and post sales service?
(A) yes (B) no (C) sometime (D) every time
Q15. Are we following 4P, s of marketing?
(A) yes (B) no (C) sometime (D) every time
Q16. Is local campaigning is necessary at the store level.
(A).Yes (B).No (C).Sometime (D). Every time
Q17. Customer has come to the store through
(A).Banners (B) hoardings (C) handouts (D) others
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