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Attracting New Customers for Food & Grocery Outlet Chain
Group – 9
NAME Mahesh Menon Ashwin Patel Anindita Mukherjee Deval Trivedi Jofy James ROLL NO 23 33 26 53 36
No. 1 2 3 4 5 6 7 8 9 10 11 12 13 Particulars Abstract Introduction Related Literature Research Problem Research Hierarchy Objective of Research Variables Concept Map & Hypothesis Sample Design & Data collection Tool Data Analysis Conclusions Recommendations References Page 3 3 5 7 7 8 9 11 13 15 17 18 19 2 .Table of contents Sr.
Various variables like price. the competition to gain more and ore market share is increasing tremendously. There are various parameters that are taken in to consideration while deciding on a preferences shopping at a particular retail chain. Introduction As more and more players enter the organized retails market. it becomes critical for a retail companies’ survival to search newer customer base and newer markets. Hence 3 . The conclusions from the research were used to give suitable recommendations to the sponsor. new products and everyday low pricing policies retail chains are trying to grab more and more market share. Branding for a retail chain involves various aspects like type of promotions. ambience. Increasing competition from unorganized retail shops and new organized retail chain. innovations. With new schemes. The objective of the research was to study the effect of Branding on attracting new customers.Abstract The research proposal involves study of various variables and its effect on attracting new customers to a retail chain. The effect of other variables studied by other researcher was not taken in to account. and location were studied and a research was conducted on the effect of Branding on attracting new customer. Price being the most critical and important variable while deciding on a particular retail chain there were other variables studied to analyze their effect on consumer decision for a particular retail plan. etc. type of communication. A hypothesis was developed based on the facts available and a research was conducted. Branding improved customer attraction to a particular outlet chain compared to a retail chain without Branding.
We 4 . There are various factors which influence the outcome of customer attraction on Branding exercise. Also. However the effect of Branding on existing customers is different from those with new customers attraction. Number of foot falls. the retail chain also needs to understand the effect of each parameter on the outcome of attracting new customer. It could be a well known fact about the positive effect of Branding on various product segments like luxury good. there has to be appropriate measurable methods to come at a conclusion based on various measurable values like. The Lifestyle and culture plays a crutuial role in the effectiveness which needs to be studied at later stage. The focus of the research was analyzing the effect of branding on attracting new customer with other variables keeping constant. All retail chains showcasing majority of the products available. increase in sales from existing customer base or new customers etc. it becomes critical for the marketer and the communications (Advertising. Overview In this research we develop a research model understands consumer perception on Branding as an important parameter to decide on the retails chain for shopping. To decide on various newer attributes to be added so as to attract new customer. Hence the extent of effectiveness of Branding on attracting new customers or retention of existing customer could be different. High Involvement products and various consumer goods.they need to come out with various means to attract new customer that do not currently buy goods from their Retail chains. Branding & PR) team to come out with a new innovative Branding exercise and it becomes important for the sponsors to understand the effect of Branding on getting new customers.
increase in sales from new customers. research examining how customer loyalty and fairness perceptions affect each other was lacking. Whether distributive or procedural fairness influences post customer loyalty in the presence of price increases is dependent on both the level of the price increase and the reason offered for the price increase. However this is a consumer perception which needs to be tested on-field to see the actual outcome of Branding. Results indicate that loyalty has a positive effect on fairness perceptions when price increases are low. we conducted a survey among a defined sample list and analysed their perception on effectiveness of Branding for them to prefer a particular retail chain. In our research. increase in Company image etc. Store atmosphere has a significant effect of the customer perception about the Behaviour of sales person and directs the future interactions2 5 . The experimental results provide strong clues that Branding exercise would result in a difference in consumer attraction with change in Brand image. but any reason offered when price increases are high increases fairness perceptions. though no such effect is found when price increases are high. Related Literature A better price fairness perception has improved customer attraction and loyalty1 Loyalty and fairness are major research topics in the marketing literature. Also. justifiable reasons for price increases lead to increased fairness perceptions when price increases are low.also incorporated various Branding activities and see the effect of these activities on attracting new customer and measure the outcome through various measurable ways like increased foot fall. However.
physical goods. Implications for restaurateurs and academic researchers are also discussed. and outcome behaviors are also reported. customer satisfaction. and service value. and employees had significant effects on the level of customer pleasure while ambience and employees significantly influenced the level of arousal. A structural equation modeling analysis revealed that facility aesthetics. There is a significant improvement in customer retention and new customer attraction due to improved service and product quality level3 This study investigates the effect of being customer oriented on service performance perceptions and outcome behaviors. 6 . Specifically. value attributions. Indirect effects on organizational quality. and pleasure appeared to be the more influential emotion of the two. In addition.This research built a conceptual model to show how customers’ perceptions of dining environments influence behavioral intentions through emotions in the upscale restaurant setting. The impact of being customer oriented on consumers’ outcome behaviors is also investigated. customer satisfaction. and servicescapes. Responses from consumers indicated that customer orientation is directly related to customers’ evaluations of employee service performance. ambience. the focus is on identifying the influence that being perceived as a customer-oriented firm has on consumer quality perceptions. pleasure and arousal had significant impacts on behavioral intentions.
There is decreasing foot fall at various branches of retails chain. The price tight competition also does not allow to reduce the price further to get new customer or to increase sales. thought the market size would be growing. With increasing number of competitors. A research conducted by the retail chain showed the analysis that there is very poor Brand recall among the targeted consumer group. What are the various variables that can solve the problem? How can the sales and foot fall be increase? The research question that arises is. the Retail chain has conducted a research to understand various reasons for the problem and how the problem can be resolved. 7 . regarding the retails chain. What are the reasons for stagnant sales & decreasing footfall? How do we improve the situation and what the root causes for the above problem? To understand the problem and analyze the situation. but is taken up by newer entrants. Research Hierarchy Management is facing a question on the various reasons for the above problem.Research Problem There have been stagnant sales among all the existing stores of the retails chain. can change branding create a difference in attracting new customers? This research question needs to be studied and various details to be analyzed and various recommendations to be given to the retail chain.
The objective of the research was to study consumer perception on Brand image as a parameter for them to buy from a particular retail outlet. This is to be done along with analysis of the consumer perception on preference of a retails chains based on their Brand image. 8 .Objective of Research To study the effect of Brand image on attracting new customers Based on the research hierarchy the research firm had the objective to study the effect of Branding on attracting new customers. The was to be followed by a change in Brand building exercise to evaluate the extent of customer attraction and see if there is significant improvement in consumer attraction due to change in brand image. The objective was to evaluate various parameters of Brand building that has effect on consumer acquisition and the level of influence of each of the parameters of Brand Building on Consumer attraction.
accessibility and quality of product. which is the dependent variable. The effect of these variables was not studied and they were kept constant for all the consumer perception and Brand Change process. The various parameters related to branding are changes and its effect on the outcome attracting new customer is studied. 9 . The various intervening whose effect on the dependent on the variable can not be analyzed as these variable can not be controlled. The moderating variables whose effects on the dependent variable were studied along with the independent variables are advertising and Promotions. The various control variables whose magnitudes were to be kept constant during the research were service. The various intervening variable are culture. Branding becomes an independent variable whose effect is to be analyzed on the dependent variable.Variables As we are to study the effect of Brand image on attracting new customers. political and consumer physche.
Perception. 10 . Innovation. Quality. increase in sales from new customers/ new markets. Trust .Independent Variables Extraneous Variables Dependent Variables Control Variables Brand Service Moderating Variables Advertising Intervening Variables Culture New customer attraction Accessibility Quality of products Promotion Political Consumer Physche Operational Definition Brand Image: Value. Attracting new Customers: Increase in footfalls. Customers response to Promotions.
CONCEPT MAP Concept Map Service Advertisements Quality Accessibility Attracting Customers Price Branding Consumer Behaviour Promotions Hypothesis Based on the related literature and past research done on the project. Brand image is not a very important parameter for customers to visit a Retail Shop. we need to derive an Hypothesis and test the same to check if the assumed hypothesis is acceptable or not. Consumers do not take the Brand image of the company in to account as they decide the shop to purchase F & G items. 11 . As found in related literature Price & accessibility plays a crucial role in retails shop preference. We hypothesise that there is no significant difference in the new customer attracting due to change in brand image.
Branding could be a very important parameter for Retail Shop selection. increase top of mind recall and creates brand awareness which inturn increases customer base.. Branding gives consumer sense on confidence in the retail chain. Alternate Hypothesis H1 = There is a significant increase in customer attraction due to improved brand image 12 .Null Hypothesis : H0 = There is no significant improvement in attracting new customer due to improved Brand image However there is a 2nd school of thought which says that similar to other product where Branding plays a crucial role.
The results were analyzed to arrive at a consumer perception on their preference of a retail chain due to Brand building activity by retail outlet. Control variables.5 lakh 100 3000 (2 % of the Population) Sample Characteristics: a) Male & Female ratio: b) Age group: c) Location: d) Survey Venue 35 : 65 25-60 yrs Residents (Thakur village) Retail. The checklist was prepared to know consumers perception if brand building exercise would improve consumers attraction at the retail outlet chain. Based on the response from consumers the data is analysed suing chi square technique to evaluate the validity of hypothesis and arrive at a suitable conclusion. The various parameters that were included were independent variables. Moderate variable which has an effect on the attraction of consumers to a retail chain. 13 . Kirana Stores & 3 large societies Sampling Tools : a) Checklist Data Collection Tool The data collection tool was send to 100 sample consumers for their perception on the reason they prefer a particular type of retail outlet. The tool was in the form of the checklist and was in easy answerable form to get instant and easy response from the consumer.Sampling Design Technique Population Sample size Actual required Random Sampling 1.
Agree Disagree 3. Do customers get attracted to an F& G store due to good ACCESSIBILITY. Does word of mouth attract new customers to the F& G store. 1. Do customers get attracted to an F& G store due to SERVICE. Do customers get attracted to an F& G store due to QUALITY. Do customers get attracted to an F& G store due to PRICE. Agree Disagree 7. Does the success of attracting new customers driven by F&G brand strategy. Agree Disagree 14 . Agree Disagree 6. Do customers get attracted to an F& G store due to lucrative PROMOTIONS. Agree Disagree 4.The checklist prepared to get an idea on consumer perception on various variables that can affect consumers attractions are as follows. Agree Disagree 2. Agree Disagree 5.
Data Analysis Table :1 OBSERVED FREQUENCY FROM DATA Agreed Brand image High Brand Image Low Total Disagreed Total 36 14 50 20 56 30 44 50 100 Table :2 EXPECTED FREQUENCY FROM DATA Agreed Brand image High Brand Image Low Total Disagreed Total 45 14 59 15 55 26 45 41 100 15 .
is rejected. Hence.11 CHI-Square As the experimental value of Chi square is higher then the table value the null hypothesis is.11 Our Calculated Value of = 7. 16 .84 1 degree of freedom at 5 % level of Significance The experimental is calculated using the Chi square formaul to arrive at a value of 7. we say that there is significant difference in consumer acquisition due to change in Brand image. Hence the null hypothesis is rejected and alternate Hypothesis is accepted. there is no significant difference in customer attraction due to Brand building. Degree of Freedom ( r -1)*( c-1) =1 Table Value of CHI-Square at = 3. With 5 % level of Cofidence we take the table value of Chi and compare it with the observed experimental value.Data Analysis: For the current analysis there are two rows and two columns hence the degree of freedom for the given system is 1.
Brand image may be the best.Conclusion As we started the research with a problem of declining foot falls various branches of retails chain and hence studied the effect of Branding on attracting new customers. Branding is advertising that continues on far after an advertising campaign. A brand signals to the customer the source of the product — and protects both the customer and producer from competitors who would attempt to provide products that appear to be identical. if done right. Creating or revitalizing a positive brand image is a basic component of every business — and lays a foundation on which companies can attract new customers. 17 . Hence branding is very important and can add significant value when it is well recognized or has positive thoughts in the minds of consumers. Branding is having future and present customers remember your company name and/or logo and what business doesn't want that? Consumer perception about the Brand image of a retails chain shows that higher the branding activity higher is the preference of consumer to shop from the retail outlet. After the study we found out that there is a significant increase in number of new customers due to brand image. single marketable investment a company can make.
Your brand definition will serve as your measuring stick in evaluating any and all marketing materials and strategies. you create the foundation for all other components to build on.Recommendations The following are the recommendation which will help in branding and attracting new customers. How can you package your brand so that it is an integral part of your business and represents a strong identity this will help in attracting new customers To achieve your brand marketing goals it is important that you know your target market inside and out 18 . Think of new ways to get your brand out to the younger consumers so that your brand equity will go up even as they age Will also want to keep an eye on your brand equity to see if it is falling out of favor with your consumers. By defining who your brand is.
Michael Bardy. Journal of Service research. No. Natalie Hedrick & Harmen Oppewal. Dept of Marketin “Store atmosphere effects on customer perception”. Boston College 19 . Vol3. William Martin & Nicole Ponder. 3.References 1) 2) 3) “Price fairness perception and customer loyalty in retail context”. Monach University. 241-251. “Customer Orientation” . Dept of Marketing.
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