Marketing Research Project d335d

Mall Research Niranjan Pradhan (TYBMS SEM VI, Bhavan’s Chowpatty) Meaning Research means detailed study of a problem. Here, the details of the marketing problem are collected and studied, conclusions are drawn and suggestions are made to solve the problem quickly, correctly and systematically. In MR, specific marketing problem is studied in depth by collecting and analyzing all relevant information and solution are suggested to solve the problem which may be related to consumers, product, market competition, sales promotion and so on. MR is special branch of marketing management. It is comparatively of recent in origin. MR acts as an investigative arm of a marketing manager. It suggests solution on marketing problem for the consideration and selection by a marketing manager. MR also acts as an important tool to study buyer behaviour, changes in consumer life-style and consumption patterns, brand loyalty and forecast market changes. In brief, MR facilitates accurate marketing decisions for consumer satisfaction on the one hand and sales promotion on the other hand. It is rightly treated as the soul of modern marketing management. MR suggests possible solution on marketing problem to marketing manager for his consideration and final selection. It is rightly said that the beginning and end of marketing management is marketing research. It is primarily used to provide information needed to guide marketing decision, market mix. It acts as a system to marketing management.

1

Mall Research

Features of Marketing Research 1) Systematic and continuous process:- MR is a continuous process. One type of research is not adequate to resolve all marketing problem. Similarly, new research projects will have to be undertaken to solve new marketing problem and challenges. A marketing company faces new marketing problem from time to time and for facing them marketing research activities need to be conducted on regular basis. A marketing company has to conduct MR regularly for its survival and growth in the present dynamic marketing environment. 2) Wide in scope application:- MR is wide in scope as it deals with all aspects of marketing of goods and services. Introduction of new products, identification of potential markets, selection of appropriate selling techniques, study of market competition, introduction of suitable advertising strategy and sales promotion measures are some areas covered by MR. 3) Emphasises on accurate data collection and critical analysis:- In MR, required data should be collected objectively and accurately. The data collected must be reliable. It should be analysed in a systematic manner. This will provide comprehensive picture of the situation and possible solution. 4) Offers benefits to sponsoring company and consumer:- MR is useful to the sponsoring company. It raises the turnover and profit of the company. It also raises the competitive capacity and creates goodwill in the market. It enables a company to introduce consumer- oriented marketing policies. Consumer also gets agreeable goods and more satisfaction due to MR activities.

2

Mall Research 5) Commercial equivalent of military intelligence :- MR is the commercial intelligence activity. It is similar to military intelligence where systematic study is made before taking any military action MR acts as the intelligence tool of marketing management. 6) Tool for managerial decisions:- MR acts as a tool in the hands of management for identifying and analysing marketing problem and finding out solution to them. It is and aid to decision-making. It suggests possible solution for the consideration and selection by managers. MR is an aid to judgement and never a substitute for it. 7) Applied type of research:- MR is applied knowledge. It is also called ‘decisional’ research as it provides specific alternative solution to deal with a specific marketing problem. It studies specific marketing problem and suggests alternative solution and possible. 8)

Reduces the gap between the producers and consumer :- MR is an essential supplement of modern competitive marketing. It is useful for understanding the needs and expectations of consumers. It reduces the gap between producers and consumers and adjusts the marketing activities to suit the needs of consumer.

9) Not an exact science:- MR is both science and an art. It collects information and studies marketing problem in a scientific manner. The information collected is also applied to real life problem. However, MR is not an exact science. It only suggests possible solution and not the exact solution to marketing manager for consideration and selection. At present, MR is treated as a professional activity. We have professional research agencies dealing with the marketing problem of their clients on commission basis. 10) Use of different methods:- MR can be conducted by using different methods. Data can be collected through survey or by other methods like observation method or experimentation method. Even computers and internet are used for data collection. The researcher has to decide the method suitable for his research project.

3

Mall Research

11) Dynamic character:-MR is dynamic in nature. Its scope is fast expanding along with the new developments in the field of marketing. In addition, development in other subjects such as economics, statistics, computer science, sociology, psychology, cultural anthropology and behavioural sciences also bring corresponding changes in the field of MR. this suggests that MR is a dynamic and progressive subject. 12) Closely connected with marketing information system:- both the concepts are interrelated. In fact, MR is one components of MIS. Both are useful for solving marketing problem and for accurate and quick decisionmaking in the field of marketing. INCREASING NEED OF MARKETING RESEARCH 1) Growth and complexity of markets :- Markets are no more local in character. They are now national and even global in character. The marketing activity is becoming increasingly complex and broader in scope as more firms operate in domestic and global markets. Manufactures find it difficult to establish close with all markets and consumers directly. Similarly, they have no control on the marketing system once the goods are sold out to middlemen. This situation creates new problem before the manufacturers which can be faced effectively through MR as it acts as a feed-back mechanism to ascertain first hand information, reaction, etc. of consumers and middleman. Marketing activities can be adjusted accordingly. 2) Wide gap between producers and consumers:- marketing research is needed as there is a wide gap between producers and consumers in the present marketing system. Due to mass scale production and distribution, direct between producers and consumers. Producers do not get

4

Mall Research dependable information as regards needs, expectation and reactions of consumers, they are unable to adjust their products, packaging, prices, etc. as per the needs of consumers. The problem created due to information gap can be solved only through MR as it possible to establish with consumers and collect first hand information about their needs, expectation, likes, dislikes, preferences and special features of their behaviour. Thus, MR is needed for removing the wide communication gap between producers and consumers. 3) Changes

in

the

composition

of

population

and

pattern

of

consumption: - In India, many changes are taking place in the composition of population. There is a shift of population from rural to urban areas. There have been considerable changes in the consumption and expenditure patterns of consumers in India. The incomes of the people, in general, are rising. This brings corresponding increase in their purchasing capacity and buying needs and habits. The demand for consumer durables is fast increasing. The market are now flooded with consumer durables like TV sets and so on. Manufacturers are expected to know such qualitative and quantitative changes in the consumer preferences and their consumption pattern. For achieving this objective, MR activities are necessary and useful. In brief, MR is needed for the study of changes in the pattern of consumption and corresponding adjustment in the marketing planning, policies strategies. 4)

Growing importance of consumers in marketing:-Consumers occupy key position in modern marketing system. They are now well informed about market trends, goods available, consumer rights and protection available to them through consumer protection acts, the growth of consumerism has created new challenges before manufacturers and traders. Even growing customer expectations create situation when manufacturers have to understand such expectations and adjust the production

policies

accordingly.

Indifference

towards

consumer

expectations may lead to loss of business. In the present marketing

5

Mall Research system, consumers cannot be taken for granted. Marketing research particularly consumer research gives valuable data relating to consumers. It is possible to use such data fruitfully while framing marketing policies. Thus, marketing decisions can be made pro consumer through marketing research activities. 5)

Shift of competition from price to non-price factors:- Cut-throat competition is unavoidable in the present marketing field. Such competition may be due to various factors such as price, quality, and packaging, advertising and sales promotion techniques. Entry of new competitors creates new problems in the marketing of goods and services. In addition, market competition is no more restricted to price factor alone. There are other non-price factors such as packaging, branding, after-sales and advertising which create severe market competition. Every producer has to find out the extent of such non-price competition and the manner in which he can face it with confidence. MR is needed as it offers guidance in this regards. A manufacturer can face market competition even by using certain non-price factors. The shifting of competition from price to nonprice factors has made marketing of consumer goods more complicated and challenging. This challenge can be faced with confidence by using certain measures through marketing research.

6) Need of prompt decision making :- In competitive marketing, marketing executive have to take quick and correct decision. Companies have to develop and market new products more quickly than ever before. However, such decision is always difficult. Moreover, wrong decisions may bring loss to the organisation. For correct decision making, marketing executive need reliable data and up to date market information. Here, MR comes to the rescue of marketing manager. Problems in marketing are located, defined, analysed and solved through MR techniques. This suggests its need as a tool for decision making. MR is needed as a tool for reasonably accurate decision making in the present highly competitive market system.

6

Mall Research

Market research v/s marketing research. Sr.no. 1.

Points Meaning

Market Research Marketing research Market research directly MR is a systematic and relates to market situation comprehensive

study

of

i.e, size, location, market different aspect of marketing competion and features of including current marketing customers.

It

provides problems and challenges for

details about the market decision –making and policy for decision-making and framing. 2.

Nature

policy framing. Market research branch

3.

Scope

of

research. The scope

is

a MR is one branch marketing

marketing information system. of

market The

scope

of

marketing

research is limited to the research is wide as it covers study of market or market all aspects of marketing. 4.

5.

Type

situation. of Market research is narrow Marketing research is a wide

term

term as it relates to one term as it covers all aspects

Objective

aspect of marketing. Market research

of marketing is Marketing research

is

undertaken in order to undertaken in order to study deal with the problem and varied challenges

relating

type

of

marketing

to problem such as product line,

different aspect of market marketing mix, advertising, such as competition and packaging, branding and so consumer needs.

on.

7

Mall Research

Advantages of Marketing research 1) Indicates current market trends:- marketing research keep business unit in touch with the current market trends and offer guidance for facing market situation with confidence. 2) Pinpoints deficiencies in marketing policies:- MR pinpoints the deficiencies as regards product, pricing, promotion, etc. it give guidance regarding different of marketing. They include product development, branding, and packaging. 3) Explains customer resistance: - MR is useful for finding out customer resistance to company’s products. Remedial measures are also suggested by the researcher to deal with the situation. This makes the product and marketing policies agreeable to consumers. 4) Suggests sales promotion techniques:- MR enables a manufacturer to introduce appropriate sales promotion techniques, select most convenient channel of distribution, suitable pricing policy for the products and provision of discounts and concessions to dealers. Marketing research facilitates sales promotion. 5) Offers guidance to marketing executives:- MR offers information and guidance to marketing executives while framing marketing policies. Continuous research enables a company to face adverse marketing situation boldly. It acts as an insurance against possible changes in market environment. 6) Facilitates selection and training of sales force: marketing research is useful for the selection and training of staff in the sales organisation. It also suggests the incentives which should be offered for motivation of employees concerned with marketing. 7) Promotes business activities: - marketing research enables a business unit grow its activities. It creates goodwill in the market and also enables a

8

Mall Research business unit to earn high profits through consumer oriented marketing policies and programmes. 8)

Facilitates appraisal of marketing policies: Research activities enable business executives to have an appraisal of the present marketing policies in the light of findings of research work. Suitable adjustments in the policies are also possible as per the suggestions made by the researchers.

9) Suggests new marketing opportunities: MR suggests new marketing opportunities and the manner in which they can be exploited fully. It identifies emerging market opportunities. 10) Facilitates inventory study: marketing research is useful for the evaluation of company’s inventory policies and also for the introduction of more efficient ways of managing inventories including finished goods and raw material. 11) Provides marketing information: MR provides information on various aspects of marketing. It suggests relative strengths and weakness of the company. On the basis of such information, marketing executives find it easy to frame policies for the future period. MR provides information, guidance and alternative solutions to current marketing problems. 12) Suggests appropriate distribution channels: MR can be used to study the effectiveness of existing channels of distribution and the need of making suitable changes in the distribution system. 13) Provides information on product acceptance: marketing research helps in knowing the probability of acceptance of the product in its present form. It is also useful for the introduction of modifications in the existing product line of a firm. 14) Creates progressive outlook: MR generates progressive and dynamic outlook throughout the business organisation. It promotes systematic thinking and a sense of professionalisation within the company. It also creates enthusiasm among marketing executives. This brings success and stability to the whole business unit.

9

Mall Research 15) Has wider social significance: MR is of paramount importance from the social angle. It is the means by which the ultimate consumer literally becomes king of the market place, with his desires, prejudice and every whim transmitted to the producer and distributor. In brief, MR has wider scope significance. It is useful to all parties involved in the process of marketing.

Limitations of Marketing Research 1) Marketing research offers suggestions and not decisions:- Marketing research is not substitute for decision making process. It only offers possible suggestion to marketing problem. It actually acts as a tool which facilitates decision making process. It guides marketing managers in taking balanced, result oriented and rational decisions. The suggestions offered by marketing researchers are usually possible solution but not the exact solution. In fact marketing research by itself is not an exact science. MR offers predication but they are not necessarily accurate or perfect. Such predictions should be taken in the right sprit by the management. It offers information and guidance to marketing manager but not the final decisions which are to be taken by manager themselves. MR does not provide readymade solution to marketing problem. It only provides indicators. The effectiveness of MR depends on the skill of the decision maker. MR aids managerial decision making but it control replace judgement and experience of marketing managers. 2) Marketing research cannot predict accurately: - In MR, efforts are being made to estimate or predict the possible future situation. For this, certain research studies are undertaken. However, the results conclusions arrived at may not be complete, perfect or accurate. They predict possible tendencies but not certainties. The decision taken and policies framed on the basis of such research studies may not be accurate and useful for

10

Mall Research solving current marketing problems. Marketing research gives guidance to marketing managers through information and conclusion drawn but such guidance may not be accurate as it is based on the predictions about future situation. The guidance offered through activities may prove to be out dated at the time of taking current marketing decisions. 3) MR conclusions are not dependable:- there are many who are sceptics of MR. their criticism is that MR conclusions are not dependable. There are examples where the research failed to deliver desired result or a product failed even when the research had shown promising market demand and consumer . The classical example is that coke. Its MR should that 68% customers in US liked the taste of the new formula developed by the coca-cola corporation. However, the new coke failed and in less than six months of its launch, the coke management had to relaunch old coke under the brand name coke classic. However, this failure of MR was mainly due to conventional approach. 4) Marketing research cannot study all marketing problem:- marketing research is rather very wide in scope. However, it cannot study all marketing problem particularly where it is difficult to collect relevant data. Similarly, research study is not useful for dealing with urgent marketing problem where quick decisions and follow up actions are necessary. Thus, all marketing problem are not researchable and all research problem are not answerable. MR fails to offer guidance to manager while dealing with specific problem. It is also argued that very many times, marketing research faced by a business unit

marketing research tends to be

fragmentary in its approach it become difficult to have an overall perspective in which a marketing problem is to be viewed and studied. 5) Resistance by marketing executives: researchers study the marketing problems and offers information and guidance to marketing executives in their decision-making process. However, some executives are reluctant to use the solutions suggested by the researchers. They feel that such extensive use will act as a threat to their personal status. Findings of the

11

Mall Research research work may bring them in difficulties if the policy-decisions taken accordingly prove to be wrong. Marketing executives may also feel that researchers suggest solutions which are academic in character and lack practical utility. There is absence of meaningful dialogue between the marketing managers and the marketing research team. Secondly, researchers should try to act as friend and guide of marketing executives. Conflicts between researchers and executives are always undesirable but do exist in many companies. It is treated as one limitation of MR activity. 6) Lengthy and time-consuming activity: MR is a lengthy and time-consuming activity. It involves various steps which need to be completed in an orderly manner. It is not desirable to conduct research work is an haphazard manner. Naturally, the research work take longer period for completion and findings when available may prove to be old and outdated. Moreover, research work cannot be conducted overnight and marketing decision cannot be postponed till the research work is completed. 7) Marketing research is a costly affair: marketing research is a costly as research work require the service of expert with knowledge, maturity and skill.

Such

experts

include

economists,

management

scientists,

statisticians, psychologists and computer experts. Advance training in economics, computer technology, psychology, sociology, etc. is also necessary on the part of research staff. 8) Non-availability of qualified staff: For scientific MR, professional marketing researcher with proper qualification, training and experience are necessary. Research work is likely to be incomplete in the absence of such expert staff. 9) Complexity of subject: marketing research fails to give complete and fullproof solution to management. This is because marketing research itself is not an exact science. It is concerned with the study of human beings and human behaviour is always difficult to predict. 10) Changing behaviour of consumers: Consumer is a focal point in the market research. However, his buying motives are difficult to judge

12

Mall Research precisely and accurately. This brings some sort of uncertainty in the conclusion drawn from the research activity. The findings of the research work may not prove to be accurate. CONSUMER ORIENTATION TO MARKETING RESEARCH: Consumer orientation to marketing research means making research activities pro-consumers rather than pro-manufacturer. It also means giving more importance to consumers and their satisfaction, expectations, needs, etc. and not merely to sales promotion and profit to the manufacturer. Such orientation is essential as consumer is the centre of all marketing activities and his satisfaction is the base or basic consideration in modern business. The consumer orientation to MR is the result of modern concept of marketing which is basically different from the traditional concept of marketing. It is consumer oriented and service oriented. As a result in the marketing research activities special attention is now given to consumers. All research activities are for making marketing useful, agreeable and acceptable to consumers. This is what is described as consumer orientation of MR. Research activities are now made pro-consumer rather than pro-manufacturer. The importance of consumer is now accepted not only MR but also in all aspect of business management. In fact consumer is the most important person in business. He is the king and should be treated accordingly. All production and marketing activities are for meeting his needs and also for raising satisfaction and welfare. He is the cause and purpose of business activities. Finally, modern business is not profit oriented but consumeroriented or service-oriented. All these arguments are equally applicable to MR. in other words, MR activities move around the consumer and his satisfaction.

13

Mall Research FIELD INVESTIGATION / SURVEY METHOD Meaning Survey means a planned attempt to collect required information from representative sample of the relevant population. Field investigation means collecting first hand information by actually visiting markets or meeting consumers and dealers who are directly related to marketing activities. Data collected for the first time through field survey is called primary data. Here, data collected through suitable questionnaire and interview a limited number of people selected from large group. Customer, creditor and supplier are major source of primary data. The primary data collected are superior to secondary data. Primary data are also necessary when the secondary data are incomplete. Primary data needed to be collected from different sources such as survey, observation and experimentation. The primary data are reliable. However, problem in primary data is its cost, both in term of money and time required for collection. Primary data are of two types:a) Census:- It refers to the collection of data from the entire population. In India population census is taken after every 10 years. b) Sample:- sampling is an internal part of data collection through surveys. Sampling is used to collect primary data when sources of data are too many to be exhaustively handled. A sample is only representative portion of the population.

14

Mall Research Methods of field investigation/market survey a) Mail surveys . b) Telephone surveys. c) Personal interview. d) Consumer s. Field investigation is one of the widely used MR methods. Field investigation is important as they are more accurate and unreliable. Here, direct communication is a established with the consumers and information is collected by asking relevant question. Naturally the information collected is accurate, first hand and factual. The conclusion drawn from such data are more accurate and reliable.

15

Mall Research

About the Report The following report is an in-depth study on consumers’ buying behaviour in a mall. Primary data, which is the received directly from the consumers, is collected, sorted and converted into statistical form. The outcome so obtained is then analysed and possible conclusions are drawn. These conclusions help in knowing what the average consumer prefers to buy today. Conversely it helps in understanding what his dislikes are too. Whether the product to be launched gains acceptance in the mind of the consumer depends to quite an extent on the Research Report. It helps us gain an insight and get into the psyche of the consumer so we can design more and more products and services which are best suitable to his needs. Not only will this help in making more profits but also in enhancing consumer loyalty – a boon in today’s competitive world. The findings of the report are based on a field survey of 100 people, mostly in malls. Although it may not give an exact idea of the buying behaviour of every consumer, it does give a peek into the mind of the general preferences of the conservationalist, the average and the spend-thrift consumer.

16

Mall Research

Methodology A survey was undertaken in some of the busiest shopping malls in Mumbai – Crossroads, High Street Phoenix, Globus, InOrbit, Shopper’s Stop and R-Mall. Consumers were approached directly and presented with a questionnaire which was designed to gain information regarding their monthly income, general buying preferences, visiting preferences and expectations regarding anything specific in the mall. Once all this data was collected, it was then sorted out and statistically analysed. A graph of each aspect contained in the questionnaire was made so as to get an exact percentage of the findings. Conclusions, based on the outcome, hereby obtained were drawn and decisions were taken about the probable buying behaviour of the average consumer.

17

Mall Research

Poll Results

Monthly Income 40 35 No. of People

30 25 20 15 10 5 0 Below 5000

5000-15000 15000-25000

25000 and above

Income (Rs.)

From the above graph, we can observe that out of 100 people visiting a mall: •

12 people have a monthly income below Rs. 5000

•

36 between Rs. 5000 – Rs. 15000

•

30 between Rs. 15000 – Rs. 25000

•

22 have Rs. 25000 and above

Interpretation: •

12 out of 100 people cannot afford to make any significant purchases in a mall.

•

36 out of 100 can afford to buy goods affordable to the lower middle-class.

•

30 out of 100 have the potential of becoming profit-earning consumers for the mall.

18

Mall Research •

22 out of 100 have the ability to pay for expensive goods.

Educational Background 45 40 No. Of People

35 30 25 20 15 10 5 0

10th HSC Graduate Post Others ed ed Graduate

From the above graph, we can observe that out of 100 people visiting a mall: •

13 people are 10th ed

•

14 people are HSC ed

•

44 are graduate

•

28 are post-graduate

•

1 are Others.

Interpretation: It is observed that people who are more educated have preferences and tastes which are quite different from others who are less educated. It is observed that 10th ed and HSC ed people tend to copy the lifestyle led by most of the well-educated people. This is because of the simple reason that with education comes class.

19

Mall Research

Frequency of Visit Others Quarterly Fortnightly Monthly Weekly

6 9 13 26 46

From the above graph, we can observe that out of 100 people visiting a mall: •

46 visit weekly

•

26 visit monthly

•

13 visit fortnightly

•

9 visit quarterly

•

6 not specified

Interpretation: Maximum numbers of people visit a mall on a weekly and monthly basis.

20

Mall Research

Purpose of Visit Others WatchingMovies Get Together Window Shopping Shopping 0

10

20

30

40

50

60

70

80

From the above graph, we can observe that: •

69 go for shopping

•

23 for window shopping

•

18 for get-togethers

•

9 for watching movies

•

1 for other reasons

Interpretation: Maximum number of people visit a mall for shopping purposes. A staggering second comes window shopping. This is the target audience, the people who are useful from the profit-making point of view.

21

Mall Research

ProductsShoppedFor 60 50 40 30 20 10 0 Clothes & Accessories

Electronics

Groceries

Others

From the above graph, we can observe that out of 100 people visiting a mall: •

57 shop for clothes and accessories

•

10 shop for electronic goods

•

13 for groceries

•

20 for other items.

Interpretation: Clothes and accessories clearly top the list in consumer buying preference in a mall. Other items such as toiletries, chocolates, canned foods, wafers etc. are preferred by a considerable amount of people. Electronic goods and groceries are not much of a hit in a mall.

22

Mall Research

SpendingAmount 40 35 30 25 20 15 10 5 0

Below1000 1000-3000

3000-5000 5000 above

From the above graph, we can observe that out of 100 people visiting a mall: •

31 spend below Rs. 1000

•

39 spend between Rs. 1000 – Rs. 3000

•

14 spend between Rs. 3000 – Rs. 5000

•

16 spend Rs. 5000 and above.

Interpretation: Majority of people spend between Rs. 1000 – Rs. 3000 during a visit to the mall (when they are shopping). Items selling below and till this price limit would be most profitable.

23

Mall Research

Buying Preference

80 70 60 50 40 30 20 10 0

Branded Goods

Unbranded Goods

From the above graph, we can observe that out of 100 people visiting a mall: •

80 shop for Branded Goods

•

20 for Non-Branded Goods

Interpretation: The average consumer prefers buying Branded Goods as far as he can. Since the standard of living has risen, people associate brands with status in society. If this consumer is provided with recognised brands within his budget, it can be a very profitable business. This is what Peter England tried to do.

24

Mall Research

Prices Charged 50 40 30 20 10 0

Reasonable

Unreasonable

No Comments

From the above graph, we can observe that out of 100 people visiting a mall: •

48 people think prices are reasonable

•

35 think they are unreasonable

•

17 can’t say.

Interpretation: As far the prices are concerned, it is observed that a majority of people think that prices charged in a mall are unreasonable. Though it is purely subjective, at the end of the day the average consumer must feel that he/she has got more than his/her value for money. Only then can malls flourish.

25

Mall Research

Value for Money?

Yes

No

Can't Say

From the above graph, we can observe that out of 100 people visiting a mall: •

60 people feel they get value for money

•

22 feel they don’t

•

18 Can’t Say

Interpretation: Majority of people feel they get value for money in a mall. The satisfaction level of shoppers, is therefore, highest in a mall.

26

Mall Research

ibility 45 40 35 30 25 20 15 10 5 0

Yes

No

Can't Say

From the above graph, we can observe that out of 100 people visiting a mall: •

44 would visit a mall even if it’s far away from their residence

•

45 would not

•

11 Can’t Say.

Interpretation: It is best for malls to spring up within the city itself and not on the outskirts. People are too busy to travel back and forth in their hectic work schedule.

27

Mall Research

Recommendation

Yes

No

From the above graph, we can observe that out of 100 people visiting a mall: •

80 would recommend it

•

20 would not

Interpretation: Publicity by word of mouth is the most effective. Hence the management should concentrate on maximising customer satisfaction and hence improve on and further expand their customer base.

28

Mall Research

Payment Preference 70 60 50 40 30 20 10 0 Cash

Credit

From the above graph, we can observe that out of 100 people visiting a mall: •

64 prefer to pay in cash

•

36 in credit

Interpretation: Consumers still prefer buying goods on cash basis than using credit. This shows that if the mall intends to make use of credit services they can offer discounts based on the various credit companies and also the various banks that they can 29

Mall Research have a tie up with. This will further increase profits and also the reputation and goodwill of the mall.

One-stop shop?

60 40 20 0 Yes

No

Can't Say

From the above graph, we can observe that out of 100 people visiting a mall: •

53 say it is a one-stop shop

•

27 say it’s not

•

20 Can’t Say

Interpretation: The average consumer feels he can get almost everything he wants at a mall. Still the mall can go ahead and take the extra effort in finding out the needs of the customers and try to satisfy them.

30

Mall Research

Timing Convenience 90 80 70 60 50 40 30 20 10 0 Yes

No

From the above graph, we can observe that out of 100 people visiting a mall: •

82 feel timings are convenient.

•

18 feel they are not.

Interpretation:

31

Mall Research Timings of the mall are suitable to the working person. But on the whole, if the timing is extended a little further it would be better suited to the common man.

E-shopping 60 50 40 30 20 10 0 Yes No

From the above graph, we can observe that out of 100 people visiting a mall: •

42 prefer shopping online

•

58 prefer in-person

Interpretation:

32

Mall Research The concept of online shopping is yet to catch-up in India. It’s evolvement would take probably another decade.

Demographics

Demographics

80 60 40 20 0 Men Women

From the above graph, we can observe that out of 100 people visiting a mall: •

73 are men

•

27 are women

Interpretation:

33

Mall Research Contrary to popular belief, men are doing the shopping in today’s world!

Conclusion: Average earning consumers in the age group 25-40 earn between Rs. 5000 – Rs. 25000, comprising mostly of graduates visit a mall maximum times on a weekly basis. The visit is mainly for shopping comprising of clothes and accessories and other items, spend around Rs. 1000 to Rs. 3000, prefer buying branded goods, would not visit a mall if it’s far away from place of residence or work and prefer to pay in cash rather than credit. We thank Dr. Susy Kuriakose for giving us an opportunity to learn the basic fundamentals of Market Research and put them into practice in such a fruitful project. Her guidance from time to time is appreciated.

34

Mall Research

Poll Instruments Name: Age: Profession: Monthly Income: Below 5000 15000 – 25000

5000 – 15000 25000 and above

Educational Background: 10th ed

HSC ed

Graduate

Post Graduate

Q.1] How often do you visit a mall? Weekly

Monthly

Fortnightly

Quarterly

Others Q.2] You would visit a mall for………… Shopping Get together

Window shopping Watching movies

Others - Please specify_____________________________________

35

Mall Research

Q.3] What product do you shop for in a mall? Clothes & accessories

Electronics

Grocery

Others

Q.4] How much would you spend on a visit to the mall?

Q.5] Do you prefer buying ……… Branded Goods

Unbranded Goods

Q.6] What do you think about the prices charged in a mall? Reasonable

Unreasonable

No comments Q.7] Do you think you get value for money in a mall? Yes

No

Can’t say Q.8] Would you travel to a mall even if its far from your place of resident? Yes

No

Can’t say

36

Mall Research

Q.9] Would you recommend the mall based upon your own experience? Yes

No

Q.10] Do you prefer to shop on cash basis or credit basis? Cash

Credit

Q 12] Do you agree that the mall is a one-stop shop? Yes

No

Can’t say Q13] Do you think the timings of the mall are convenient for you? Yes

No

Q14] Do you think that the concept of e-mall (shopping online) is more convenient? (as a working person) Yes

No

Q.15] List malls in the order of preference.. 1 2 3 4

37