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Consumer Behavior in Festival Seasons With Special Reference
Consumer Behavior in Festival Seasons With Special Reference
SUBMITTED IN PARTIAL FULFILLMENT OF THE AWARD OF DEGREE OF MASTER OF BUSINESS ADMINISTRATION (SESSION: 2006-08) UNDER THE GUIDENCE OF: MR. (M.B.A FACULTY) SUBMITTED BY: ROLL NO. M.B.A 3RD SEM.
DECLARATION
I HARSHA, Roll no FIFTEEN M.B.A. final year (III semester) the student of Hindu Institute of Management, sonipat hereby declare that the final project report entitled consumer behavior in festival seasons with special reference to electronic goods is an original work and the same has not been submitted to any other institute for the award of any other degree. A seminar presentation of the final report was made on__________ and the suggestions as approved by the faculty were duly incorporated.
SIGNATURE OF CANDIDATE
ACKNOWLEDGEMENTS
As I write this acknowledgement, I must clarify that this is not just a formal acknowledgement but also a sincere note of thanks and regard from my side. I feel a deep sense of gratitude and affection for those who were associated with the project and without whose cooperation and guidance this research could not have been conducted properly. I learnt number of virtues for business and for life from MR. RAVIKANT SWAMI without their expert guidance encouragement; this research could not have been completed successfully. Last but not least I dedicate this effort of mine to those persons who are light of my life: My Father, Mother, Friends who have been behind every successful endeavor in my life.
PREFACE
For a deep inclination into the managed concepts, practical training is an important asked. Theoretical knowledge without practical knowledge is of little value. Theoretical knowledge gives us the fundamental concepts of management and practical training teaches us those tacts and skills, which are successfully employed to capture todays competitive market. Theoretical lectures must be correlated with practical training to make learning process more effective and to provide a plate form to judge and apply theoretical knowledge to practical situation. Practical training thus plays an important role in developing and sharpening ones skills in the field of business management and administration. I prepared this report for my two-year course in Master of Business Administration. The topic of my report is Consumer Behavior in Festival Seasons with special reference to electronic goods. This project reveals around the demand of the consumer for electronic goods in festival seasons.
TABLE OF CONTENTS
Chapter no. A B C Chapter 1 Declaration Acknowledgements Preface Introduction to project Significance of the study Review of existing literature Conceptualization Focus of problem Objective of the study Chapter 2 Hypothesis Introduction of consumer behavior How consumer behave Premium gifting Festive wheels Electronic goods Chapter 3 Golden movements Effect on sales n festival season Image &sales n the marketing mix Schemes for sales Dont lose focus on the target customers Is the promotion a good gift Time is important Online Diwali sales expected to go up by over 100% Chapter 4 Research methodology Particulars Page no
Chapter 5
Chapter-1
To get the knowledge about the customers To get the knowledge about different type of customers in festival season whether they are interesting in buying a product. Assessing individual customer expectation and abilities. Assessing immediate and long-term benefits through customer satisfaction. To analyze the attitude & preferences in relation to buying electronic goods. To analyze the degree of influence of various schemes.
For this purpose, the abstracting & indexing of journals& published or unpublished bibliographies are the first place to go to. Academic journals, conference proceedings, government reports, books etc. must be tapped depending on the type of study undertaken.
While preparing for my project report, I, abstracted context from newspapers, Internet sites. Various magazines & journals were also consulted too. I consulted various magazines like, Business World, India Today & Journals of IIMS too that proved to be of great help for my project work.
Source: www.msn.com
A brand can combat the crowd during the festival season through its innovativeness and the relevance of the benefit offered. It's festival time again and companies and stores are coming out with various schemes for consumer durables. Even otherwise, going by personal experience, it is very confusing to see so many similar products, appreciate the differences between each brand and make a decision.
This Diwali many retailers are rejoicing as sales have increased significantly over the past few years. RC Aggarwal, CMD of Vishal Mega Mart, said his company saw sales go up by 200% this year on a national level, with gift, household and crockery items being the best sellers. Mumbais 2 largest malls, In orbit Mall in Malad and Normal Lifestyle Mall in Mullund saw crowds of 50,000 on Sunday, close to double of the usual footfalls, and most people did some shopping and eating instead of just browsing. Consumer durables were the mainstays of the shopping for most people and stores such as Vijay Sales say that they will comfortable meet their target of Rs. 25 billion for August-November.
RC AGARWAL, CMD OF VISHAL MEGA MART
The rationale for launching consumer schemes, during festivities or otherwise, is really to pour new life into a brand. This is achieved through making the brand accessible or attractive to new customers or increasing the brand penetration through new products amongst the existing customer base. However, in reality, what is happening is that ill-planned and misdirected consumer schemes are often really killing the brand values. They are actually working against all the investments made towards building the value proposition for the brand and thereby initiating purchase purely on account of a price-led benefit.
Source: today)
THOUGH, in view of the cricket World Cup, the color television (CTV) industry had set optimistic targets for the first quarter of the calendar year, the sales growth seems to have been below expectations so far. According to industry sources, the month of January had been rather sluggish for the CTV industry, with high inventories stuck at both the retail and industry level. Though the industry target for January was around 8, 00,000 units, the total CTV sales have been below 6, 00,000 units during the period," points out an industry official. Source: Www.Google.Com
Some of the buildings look old and are beautiful with their trellised wooden and metal balconies. Amritsar is a treat for history lovers too. It boasts of a number of historical monuments which captivate connoisseurs with their matchless aura. People from various parts of the country throng old bazaars to make vigorous purchases. Diwali, literal meaning rows of lighted lamps is the most enthusiastically enjoyed festival of Amritsar. For trading community, new business year starts on Diwali. The sweet delicacies Khand de Khedone (sugar toys), silver and gold jewellery, made in the Holy City is great attraction for shoppers.
Diwali has brought good sales results for most retail majors after a slow start. Leading retail chains such as Westside, Pantaloons, Wills Lifestyle, Ebony and Landmark recorded sales figures of 40-45% higher than last year during the same period. While sales were slow to pick up after Dushera, the traditional start of the shopping season, the last seven days saw a significant growth in sales.
Source: www.yahoo.com
Both consumer electronics companies as well as several retailers have pointed out that sales have started to pick up in the last 10-15 days, and are expecting the momentum to keep up till mid-March. Interestingly, the sales are also bound to be affected by India's performance during the ongoing World Cup. Several retailers in the Capital pointed out that customer enquires had dropped drastically after the team's embarrassing defeat to Australia. "CTV sales during the season will be affected to some extent if the Indian team were not to make it the super sixes," Mr. Singh said. CTV manufacturers have targeted a 40-50 per cent jump in sales during the first three months of the current year.
CONCEPTUALIZATION
The project is on consumer behavior towards electronic goods in festival season. From knowing the behavior of consumer, company can produce those goods which are satisfying the needs of the customer. Consumer always wants to buy goods in festivals especially electronic goods because in festivals there are so much discounts are offered by the company. in festival season customers are attractive for buying the goods also. There are consumers tastes are changing day to day so company will produce goods according to the needs of the customer and satisfy the customers.
FOCUS OF PROBLEM
This project has been undertaken to study the CONSUMER BEHAVIOR IN FESTIVAL SEASON REFERENCE TO ELECTRONIC GOODS this project relates to all aspects concerned with consumer decision regarding buying the goods in festivals. There are consumer tastes and preferences are changing everyday and to know there needs is very difficult to under stand.
To know the current trend of the consumer behavior in festivals in electronic goods assessing individual customer expectation and abilities. To collect the information from the Retailers for the Objective of promoting the sale of electronic goods.
PRIMARY OBJECTIVE To know the current trend of the consumer behavior in festivals in electronic goods. OTHER OBJECTIVES To collect the information from the Retailers for the Objective of promoting the sale of electronic goods. To know the sale of the franchisee of the company in festival seasons To know the difference between seasonal sale and general sale.
HYPOTHESIS
There are various assumptions that we make before research, these are: There is more rapid expansion in customer base. Competition is increasing day by day. Consumer tastes and preferences are changing day to day. New technology will be used to satisfy the customers. To know the sale of the franchisee of the company in festival seasons
Chapter-2
This is the time for umpteen launches, and not only of household goods; are companies too on a buying spree for the express purpose of corporate gifting. Hence, the most innovative of gifts find their way to the shelves. For companies, it is the occasion to thank employees and dealers, network with partners and associates all through the fine art of festive corporate gifting. And the gesture seems to have come of age. Instead of the staid mithai box most managements gave out even five years ago on Diwali eve, a number of companies are now looking for more contemporary alternatives to gift their staff this festival season. These range from Feng Shui wind chimes to premium chocolate gift hampers, crystal artefacts and porcelain figurines.
Premium gifting
It is the changing consumer perception towards gifting during festivals that has led to the mushrooming of showrooms and retail chains dealing in super premium items. Take, for example, the Delhi-based Dolphin D'mart. Set up in 2001 after the promoters realized that the super rich also need options for gifting, the chain has doubled its turnover each year, launched 14 brands and is planning to diversify further. Says Preeti Rao, CEO Commercial for Dolphin D'mart Ltd, "Indians have always appreciated luxury and we started this concept after realising that it was getting difficult for people with an eye for beauty and no constraint on the budget to look for gifting options within India." International brands including Lladro (for figurines); Baccarat, Lalique and Daum (for crystal) and Fraser & Haus (silverware) are also cashing in on the loosening of purse strings. The November mania, however, goes beyond gifting, to make a lifestyle statement in shopping. `Shop, Eat, Celebrate' is Bangalore Central's baseline for all its promotional campaigns. "And with the festive Season just round the corner, we are giving consumers more reasons to celebrate," says Rajesh Seth, Marketing Head, Bangalore Central. Promoted as the country's first seamless mall, it is bedecked and ready to accommodate more than 25,000 visitors during the coming weekend. According to Seth, the mall generally gets around 13,000 footfalls every day and this is expected to double in the coming week. For the festive season, Bangalore Central has
launched the Bid n' Win campaign where a customer (who has made purchases for at least Rs 2,500) can bid for a product of his/her choice. The highest bid gets the product. Seth says they discarded the idea of a lucky draw because they wanted to make the campaign more interactive and give customers a product of their choice, rather than thrust something on them. On offer are cars, home appliances, DVDs, etc. From malls to department stores, the mood this year seems to be positive. Food World, Chennai, is in full form. To cater to the gifting market, it is selling `celebration packs' of chocolates, dry fruits and sweets, apart from diyas and crackers. The food chain has also planned promotional offers and activities such as discounts, `bid and win' and sloganwriting contests. Ramesh Moorthy, Head (merchandising), Tamil Nadu region, expects a 15 per cent rise in sales during the Diwali season. Apart from retail customers, he expects around 400 corporate to place bulk orders at the 28 outlets in the city. For the consumer durable industry, Dasara-Diwali is the peak sales period, says K.T. John, Director, Cool well Electric, a Bangalore-based home appliances dealer. According to him, apart from discounts and lucky draws, consumers have also started expecting guaranteed gifts. Therefore, they now get to take home glasses, encyclopedias, electric cookers, weighing scales and digital calendars with their purchases. Another consumer durable company is offering consumers a chance to win a Mercedes Benz and there are 10 of them on offer across the country. John says sales go up by 50 per cent during this season, though discounts are given throughout the year.
Festive wheels
The automobile industry too has expectations from the season. M.P. Shyam, Director, Advaith Hyundai, says in the automobile sector offers are made throughout the year, though companies keep changing the offers. "Bookings do go up during the season, but its also because we push our products very aggressively by increasing our ad spending." Says Vinay Piparsania, Vice-President Sales, Marketing, Service & External Affairs, Ford India, "We expect an increased level of sales activity during festival periods, given the high level of shopping that takes place during this time. Car sales are primarily influenced more by the launch of new models, the level of corporate purchasing, prevalent interest rates, and, of course, the special offers. However, customers buy cars because they need too. They may choose to wait for the festive season, as it is an occasion or an auspicious time," he says. Buying gold is still considered a mandatory ritual in many parts of the country. Ruchira Puri, Head of Marketing, Tanishq, says contrary to popular belief, automobile and durable purchases have not eaten into the jewellery market boom. In fact, new buying occasions have been added to the list. Earlier, Karva Chaudh or Dasara was not a big jewellery season, but now it is. Even Valentine's Day and Akshay Tritiya have become big buying events. She describes the unrelenting yearning for gold as a "deep cultural connect. In this day and age, for those who want to keep in touch with our traditions, this is one way of doing it." Nearly 40 per cent of Tanishq's sales happen during the Dasara-Diwali period. This year, Tanishq has launched 13 new collections and over 1,500 new designs for the festive season.
Golden moments
Business at this time of the year increases three to four fold, says S. Umapathy, Manager (HR), Prince Jewellery, Chennai. He says that Usman Road in Chennai is the ninthbusiest business centre in the world. To cash in on the demand, stores are showcasing a new range of jewellery. Prince Jewellery, for instance, has introduced a muhurtam collection in gold, the `Eterna' bridal diamond collection and the `Vibe' platinum collection. "People prefer to invest in gold as it offers easy liquidity. Diwali is the best time to shop for it as there is plenty of offers and freebies," says Princeson Jose, Managing Director, and Prince Jewellery. He expects a 20 per cent increase in sales during this Diwali season. Traditional products apart, western gifting products too seem to be making it to the consumer's basket. Chennai-based Cookie Man is confident that its gift-wrapped packages will be a big hit during Diwali. "People are getting tired of receiving and gifting the same old mithai. Moreover, our products last longer than traditional sweets," says John Lynch, Director and Chief Cookie Tester of the company. Cookies are the preferred gift-choice for new-age companies in sectors such as IT, BPOs and insurance. Last year, Cookie Man's outlet in Spencer Plaza did about Rs 50 lakh worth of cookie sales during the festival season, and marketers see a tremendous change in Indian consumer buying habit in the last ten years.
Cadbury India has just launched its premium Celebrations range, which contains traditional Indian dry fruits wrapped in Dairy Milk chocolate. The company says this gifting option combines the pleasure of giving away dry fruits which Indians traditionally consider a premium, healthy gift with chocolate. Not to be left behind, other food and beverage companies are also following suit, with special packs of fruit juices, colas and snacks, in addition to those already in the market.
Chapter-3
Time is important
The third factor to be kept in mind is `Does the timing and duration of the promotion maximize its effectiveness?' No promotion, no matter how successful, should be continued endlessly, as it will certainly erode the value of the brand. A lesson learnt the hard way by many toothbrush brands, which have been offering toothbrushes as a free product along with toothpastes for years, and are today faced with the problem of getting consumers to pay for the product. As regarding the timing of the promotion, this brings me to one of your points on high clutter during festival time. There are both advantages and disadvantages of launching promotions during the festival season. You are right when you say this results in chaos in the market place with the brand that shouts the loudest winning. However, the market reality is also that this is the time of the year when consumers' propensity to spend is high and pockets are generally jingling with cash. I would like to add a note of caution here, in that these factors do not necessarily result in a higher inclination to purchase just about any and every product category. For example, offering a 20 per cent discount of contact lenses during the festival season need not really translate to higher sales for the brand during this period. In product categories where consumers do have a higher inclination to purchase during the festival season, such as consumer durables, the rules are different for the large and small players.
For a large brand that has designed an effective scheme and has the money power to shout the loudest, festival time cannot be ignored. However, for smaller brands, an effort to launch a comparative scheme could be quite counter-productive. One way of combating the crowd is through the extent of innovativeness and the relevance of the benefit offered. Another is to launch the scheme, maybe two months later when the clutter levels are lower. For example, during the New Year or Baisakhi season. In the final analysis, it is important to remember that consumer schemes are launched to induce either trial or repurchase and this will only happen if the benefits of the brand are built as relevant and motivating to the consumer at that point of time. On gifting trends, he says "this season, sweets and hampers have been low key. Top picks for gifting have been electronics like MP3 players, Tata-Sky satellite TV systems, Kitchen appliances, silk sarees," he says. On eBay, an online shopping destination, which has put up an online Diwali sale, top buys include handsets, MP3 Players & Accessories, Stamps, Mobile Accessories and PC Games, according to Deepa Thomas, Company Spokesperson.
New Delhi, Oct 19: Its Diwali time for marketers in the online space, who are wooing the 37 million strong Indian online communities with festival packages and Mahan Diwali sales, where everything from diyas to mithai, jewellery, plasma TVs is available on attractive discounts.
"Diwali is the biggest shopping season in India and this pattern is represented in the online space as well. The online sales are expected to go up by more than 100 per cent," says Dr Subho Ray, President, Internet and Mobile Association of India (IAMAI).
"From 8.1 lakh who transacted the net during Diwali, it is likely to be around 12 lakh this year. The online business conducted during Diwali last year was around Rs 115 crore which is expected to cross the Rs 250 crore marks this year," Dr Ray told.
While growth in the first few years was low, now online shopping is growing at a phenomenal rate. This year, we expect to double over the previous year and we expect the same trend to continue in the next few years also, says K. Vaitheeswaran of Fabmall.Com, one of the pioneers in online shopping.
In normal months, 85 per cent of orders are self purchases but during festivals like Diwali and Rakhi, the gifting orders increase to over 50 per cent. In Rakhi 2006, we shipped a record 12000 Rakhis on a single day all over the world compared to 5000 in 2005, says Vaitheeswaran, whose company is offering free shipping and money back guarantee.
Shopping at this time is primarily for gifting (like most Diwali buying in the offline space). Gifting an online purchase is much easier since most online portals take care of delivery across the country and some of them even deliver to select areas of the globe. It is primarily the online community of 37 million strong that goes on the net for purchasing taking advantage of some benefits that online shopping provides ease of shopping, reviews of products available, ease of delivery and wide-range of gift products that you get under one roof," says Dr Ray.
"Many casual internet users make their first ever online purchase during Diwali. Overall, Diwali and the festive season witnesses an increase in online buyers, primarily shopping online for gifts," says Thomas.
However, Nitesh Kumar of TDI Mall says online shopping is definitely catching up, but the Indian mindset is such that they want to physically feel and see the product. Seeing is believing for them, more so during festivals, when they want to be double sure that what
On gifting trends this season, he says imported wines are picking up in a big way. Chocolates too are coming up in a big way as a substitute to mithais. Agrees Sandeep Madan of Nirulas chocolates because of the variety available here and the shelf life are emerging as a favorite gifting item both in the online and offline space.
Whether it is chocolates, wines, or plasma TVs, the trend extensively points towards luxury shopping, an emerging concept in the Indian market, says Devyani Raman of the Leading Brands of the World.
Chapter-4
RESEARCH METHODOLOGY
Research in common parlance refers to the search for knowledge. Research is a systematized effort to gain new knowledge. Research methodology is a way to systematically solve the research problem.. RESEARCH DESIGN: A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. A research design is a framework for the study and is used as a guide in collecting and analyzing the data. Research Design can be categorized as follows: Exploratory Research. Descriptive Research. Diagnostic Research. Experimental Research
The present study to Descriptive in nature. In this, the researcher must be able to define clearly, what he wants to measure and must find adequate methods for measuring it along with a clear cut definition of population he wants to study. The research design must
make enough provision for protection against bias and must maximize reliability, with due concern for the economical completion of the research study.
PRIMARY DATA:Primary data is that kind of data which is collected by the investigator himself for the purpose of the specific study. The data such collected is original in character. The advantage of third method of collection is the authenticity. A set of question s were put together in the form of questionnaire. The method of sampling was the random method as it is unbiased. Primary data was collected from: Respondents survey Swot analysis
SECONDARY DATA:When an investigator uses the data that has been already collected by others is called secondary data. The secondary data could be collected from Journals, Reports and Various Publications. The advantages of secondary data can be economical, both in the term of money and time spent. The researcher of the reporter also did the same and collected secondary from various internet sites like Google.com.altavista.com and many
more. The researchers of the reporter also visited various libraries for collection of the introduction part.
DATA COLLECTION
To achieve the objectives, the primary as well as secondary source of data are used. Primary source includes the retailers and companys officials through questionnaires. Secondary source of data includes the past records of company. The data were collected through the following methodical techniques in the present project work. 1. 2. 3. Through questionnaires Through interview Through observation
ANALYSIS PATTERN
SAMPLING TECHNIQUES Non-probability area sampling was used. SAMPLE SIZE A sample of 25 customers chosen from the area of sonipat. CONTACT METHOD Face to face interviews were conducted. APPROACH Structured Disguised questionnaire was used.
CHAPTER 5
SWOT ANALYSIS
STRENGTH High discounts. More attractive products are in the market People are more attentive for buying product. Assessing immediate and long-term benefits through customer satisfaction. To analyze the attitude & preferences in relation to buying electronic goods. To analyze the degree of influence of various schemes
WEAKNESS To get the knowledge about the customers is not an easy. To get the knowledge about different type of customers in festival
goods.
Difficulty in assessing customer satisfaction. To analyze the attitude & preferences in relation to buying electronic
OPPORTUNITIES Electronic goods are available on higher discounts. Availability of products without any effort. It increases the sales through customer satisfaction. Aware the people about electronic goods.
THREATS Increase competition from domestic market as well as from international market Assessing individual customer expectation and abilities is very difficult task. To collect the information from the Retailers for the Objective of promoting the sale of electronic goods is also very difficult task. Consumer tastes and preferences are changing day to day
QUESTIONNAIRE ANALYSIS
1. Do you think festival season increase the sale of electronic goods? Yes No
yes 100%
No 0%
INTERPRETATION:-
Most of the dealer thinks that festival season increases the sale of electronics goods.
Yes Sometimes
No
Yes 40%
No 20%
Sometimes 40%
Spending of consumers
Sometimes, 40%
No, 20%
INTERPRETATION:-
Most of the people think that during festival season spending of people increased.
3. During which festival sale is increased most? Diwali New Year Holi Any other .
Diwali 60%
Holi 15%
Any other 5%
INTERPRETATION:-
Cash
Credit
Cash 80%
Credit 20%
people's purchasing
credit, 20%
cash credit
cash, 80%
INTERPRETATION:-
5. As comparison to the previous year how much sale increased during this festival?
Up to 10%
10% to 20%
20% to 30%
15%
50%
20%
15%
In re s ins le c ae a
15 %
1 5%
U to1 % p 0 1 %to 2 % 0 0
2 0%
2 %to 3 % 0 0 3 %a da o e 0 n bv
50%
INTREPRETATION:-
6. Are you satisfied with your current performance? Highly satisfy Dissatisfied NSND Satisfy Highly dissatisfied
Highly satisfy
Satisfy
Dissatisfied
Highly dissatisfied
NSND
20%
50%
20%
0%
10%
2% 0 0 % 1% 0
INTREPRETATION:-
Yes
No
Yes 90%
No 10%
100% 80% 60% 40% 20% 0% Yes, 90% No, 10% Series1
INTREPRETATION:-
More than three-fourth of the dealers think that company mostly launch product during Diwali season.
Local
Branded
Local
Branded
60%
40%
Series1
INTREPRETATION:-
Plasma TV/flat TV
Refrigerator
Washing machine
Microwave oven
Home theatre
60%
15%
15%
5%
5%
P d c s o su w rds le ro u t h w p a a s
% 5 % 5 1% 5
1% 5
6% 0
T V R frig ra r e e to W s in m c in ah g ah e Oe vn H m th a o e e tre
INTREPRETATION:-
Disposable income/bonus
Tradition
Disposable income/bonus
Tradition
70%
30%
Reason of purchase
70% 30%
INTREPRETATION:-
Main reason to purchase during festival season is having more disposable income (bonus etc.)
Rural
Urban
Rural
Urban
35%
65%
Rural Urban
INTERPRETATION:-
12. How many footfalls you receive during this festival season (one day basis)
Up to 50 100 to 150
Up to 50
50 to 100
100 to 150
10%
20%
30%
40%
Footfalls rece
INTREPRETATION:-
Most of the dealers receive crowd of more than 150 people during festival season.
Up t ,1
Yes
No
Cant say
45%
30%
25%
N 30% o
INTREPRETATION:-
FINDINGS
Most of the dealer thinks that festival season increases the sale of electronics goods
Most of the people think that during festival season spending of people increased. In northern region sale is increased mostly during Diwali season. Most of the people purchase on cash basis during festivals rather than credit or any other instrument. Sale of the electronics goods increased up to 20% during this season. Most of the retailers are satisfied with there current performance More than three-fourth of the dealers think that company mostly launch product during Diwali season. Mostly local product is sold during festival season Plasma TV dominates this season in the sale of electronics goods. Main reason to purchase during festival season is having more disposable income (bonus etc.) More than half of the purchasing is done by urban class people. Most of the dealers receive crowd of more than 150 people during festival season. Most of the people postpone there sale in regard to festival season.
CHAPTER :- 6
Dealers should have the proper inventory of goods before festival season to meet The demand Profit of the distributor should be take in to consideration and better incentive Plan should be provided to them. In northern region Diwali is the main festival. so more lucrative schemes should Be provided to them during this season.
CHAPTER :- 7
CONCLUSION
Festival season plays a dominant role in the Indian scenario. There Lots Of Emotions Attached to Different Festivals in India. There Purchasing Behavior Mostly Judge On The Basis Of This Fetivals.In Northern Region People Mostly Purchase During Diwali Or Wedding Season So Companies Should Lay More Emphasis On There Promotion
Activities During This Time. In South Akshay TrityaAnd Onam Is The Main Festival. So Companies Always Bee Lining In This Season On More Schemes And Offers So To Gain Competitive Advantages And Earn Enormous Profit. As My Study Is Concerned To Electronics Goods Which Is In Itself A Very Vast Sector. Electronics Industries Tries There Every Effort To Gain As Much As Market Share. They Should Lays More Emphasis on the Profit of Distributor and Provide Schemes
Consumer Shows Very Indifferent Behavior During This Time. So To Study The Rationality Of Customer Behavior Company Should Conduct Proper Survey Or Apply Proper Forecasting Methods To Judge The Demand During These Time. Tradition and rituals attached to festivals in India plays important role to judge the behavior of customers.
CHAPTER :- 8
LIMITATIONS OF STUDY
Every coin has two sides in the same way while during our project analysis; we also came across such things that created problem for us. These are listed below:-
Research was only limited to sonipat and only sonipat region can not show the scenario of whole market, hence the findings can not be generalize for the entire market. Consumer dont reveal the true picture Consumer tastes and preferences are daily changes so it is very difficult to understand the needs of customers
CHAPTER :- 9
ANNEXURE
QUESTIONNAIRE
Name Age Sex Address Phone no. : ________________________________ : ________________________________ : ________________________________ : ________________________________ : _________________________________
1. Do you think festival season increase the sale of electronic goods? Yes No
2. Does during festival seasons consumer spends some extra bugs/Rs? Yes Sometimes 3. Does during festival seasons consumer spends some extra bugs/Rs? Yes Sometimes 4. Which type of purchasing people like to do? Cash Credit No No
5. As comparison to the previous year how much sale increased during this festival? Up to 10% 20% to 30% 10% to 20% 30% and above
6. Are you satisfied with your current performance? Highly satisfy Dissatisfied NSND 7. Do you think company launch a new product during festival seasons? Satisfy Highly satisfied
Yes
No
8. Which type of product generally sold in the festival seasons? Local Branded
Refrigerator Oven
10. Why customer purchase more during festival season Disposable income/bonus Tradition
11. Which type of people will purchase more in festival season? Rural Urban
12. How many footfalls you receive during this festival season (one day basis) Up to 50 100 to 150 50 to 100 150 and more
13. Is Festival Season Affecting The Purchasing Decision Of People? Yes Cant Say No
BIBLIOGRAPHY
BOOKS AND JOURNALS: Schiff man g. Leon, Consumer Behavior - Lazar Kanuk Business Line DT. Kanuk lazar Leslie, consumer behavior-5th edition, aug-1998 Garrett Dennis, journal of marketing April 2002
NEWSPAPER: Financial world, country edition, 2007 Economics times,2006 Business standard,2007