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Creating & Sustaining Value Through Brand
Creating & Sustaining Value Through Brand
A DISSERTION SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF MBA DEGREE OF BANGALORE UNIVERSITY BY Nikhil Sharma (Reg no: 05XQCM6053) Under the guidance and supervision Of
M P BIRLA INSTITUTE OF MANAGEMENT (Associate Bharatiya Vidya Bhavan) BANGALORE MAY 2007
DECLARATION
I hereby declare that this dissertation entitled Creating and Sustaining value through Branding for Malls is the result of my own research work carried out under the guidance and supervision of Prof. Shinu Abhi, MPBIM Bangalore.
I also declare that this dissertation has not been submitted earlier to any Institute/Organization for the award of any degree or diploma.
PRINCIPAL CERTIFICATE
I hereby certify that this dissertation entitled Creating and Sustaining value through Branding for Malls has been prepared by Nikhil Sharma under the guidance and supervision of Prof. Shinu Abhi, Professor, M.P.Birla Institute of Management, Bangalore.
GUIDES CERTIFICATE
I hereby certify that this dissertation entitled Creating and Sustaining value through Branding for Malls is the result of research work carried out by Nikhil Sharma under my guidance and supervision.
ACKNOWLEDGEMENT
I am extremely thankful to all those who have shared their views, opinions, ideas and experiences with me in carrying out this research work. I am particularly indebted to Prof. Shinu Abhi, Professor, M P Birla Institute of Management, Bangalore for his guidance.
I extend grateful thanks to Dr. Nagesh.S.Malavalli, Principal, M P Birla Institute of Management, Bangalore for having provided me with the necessary academic support.
(Nikhil
Sharma)
TABLE OF CONTENTS 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Research Extract Objectives of the study Research Design and Methodology The real story of India's retail boom Retail Formats Mall culture in India What is Retailing? Classification of Retailing Influence of 6 Ps of Retail Marketing on Retail Marketing Brand Literature Study Data analysis and Interpretation Findings Recommendations Questionnaire Bibliography 1 2 2 3 7 8 10 11 14 18 23 24 38 40 42 44
List of Tables
Table no. 1 2 3 4 5 6 7 8 9 10 11 12 13
Title Malls that comes to mind of people Reason of awareness about malls Frequency of visits to mall in past one month Reason why people visit the malls Duration of stay in malls Ranking of aspects of Malls Main reason which arouse interest in malls Various categories in malls that interest customers Quality of services in malls Parking Facilities at Mall Cost of parking facilities in malls Overall quality of life in malls Customers opinion about the location of malls
Page no. 24 25 26 27 28 29 31 32 33 34 35 36 37
LIST OF GRAPHS
Graph no. 1 2 3 4 5 6 7 8 9 10 11 12 13
Title Malls that comes to mind of people Reason of awareness about malls Frequency of visits to mall in past one month Reason why people visit the malls Duration of stay in malls Ranking of aspects of Malls Main reason which arouse interest in malls Various categories in malls that interest customers Quality of services in malls Parking Facilities at Mall Cost of parking facilities in malls Overall quality of life in malls Customers opinion about the location of malls
Page no. 24 25 26 27 28 30 31 32 33 34 35 36 37
RESEARCH EXTRACT
Retail is India's largest industry, accounting for over 10 per cent of the country's GDP and around eight per cent of the employment. Retail industry in India is at the crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. But because of the heavy initial investments required, break even is difficult to achieve and many of these players have not tasted success so far. However, the future is promising; the market is growing, government policies are becoming more favorable and emerging technologies are facilitating operations.
Statement of Problems:
The statement of the problem is Creating and Sustaining Value through Branding for MALLS.
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turns ratio of about 18 (some retailers like 7-Eleven score over 50), most Indian retailers range between four and 10, says KPMG. The other key metric -- stock availability -- is telling too: Where global retailers achieve more than 95% availability of all stock-keeping units on the retail shelves, their Indian counterparts cut a rather poor figure at 5-15%. There are other areas that retailers would have to master -- such as reaping economies in procurement and transportation, bulk storage, trend forecasting to minimise inventory levels -- before they can truly claim to have arrived. Early entrants such as Shopper's Stop and RPG Group are acutely aware of this truth: both took years to bring their supply-chain models to the present efficiency levels. Even a player like the Dubai-based Landmark Group -- which has been operating in India for eight years now -- insists it still needs to bring their ERP solution system up to speed. Others may face new, unexpected problems. Scalability is what the likes of Kabir Lumba, Executive Director, Lifestyle International, are banking on for growth. The group, which currently runs 12 stores, plans to open 45 more stores at a cost of Rs 450 crore (Rs 4.50 billion) over three years. Lifestyle's stores attract 40,000 customers every day, and are projected to close fiscal 2006-07 with a sales turnover of Rs 500 crore. Again, when it comes to technology adoption and usage, there's a yawning gap between the Indian retailers and those in the West. According to a recent survey conducted among the country's top retailers by KPMG, while retailers like Wal-Mart and Metro have started using RFID technology (offering high inventory visibility), retailers in India are still to take to bar coding. As systems grow in size and complexity, retailers would have set aside increasing amounts as IT spend. The challenge posed by the global retailers is clearly formidable. But local retailers' more intimate understanding of their customer base will help them survive.
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Besides, even the world's largest retailers have slipped when it comes to the emerging markets -- Wal-Mart was forced to rework its model in Mexico and a similar thing happened to Carrefour in China, where it had to revise its strategy. Also, Wal-Mart's track record in markets such as South Korea and Germany has been nothing to write home about. The other big issue for retailers is people. Analysts agree that the manpower shortage will get acute as retail spreads beyond the metros. Says Sanjiv Goenka, Chairman, RPG Group: "The biggest challenge for us and, for that matter, any retailer will be getting trained personnel." India's vast middle class and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets. Driven by changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expected to grow 25 per cent annually. Retailing in India is gradually inching its way toward becoming the next boom industry. The whole concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. The Indian population is witnessing a significant change in its demographics. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key growth drivers of the organized retail sector in India. It is true that the rise of retail organizations would yield many positive results for India, such as, creating more jobs, bringing numerous goods to the consumers at a reasonable price and so on. Modern retail in India could be worth US$ 175-200 billion by 2016. With the economy booming, competition in the marketplace is fierce. According to 'Retail in India Getting Organized to Drive Growth', a report by AT Kearney and the Confederation of Indian Industry, retail is one of India's fastest growing industries with a 5 per cent compounded annual growth rate and expected revenues of US$ 320 billion in 2007. Rising
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incomes, increasing consumerism in urban areas and an upswing in rural consumption will fuel this growth to around 7-8 per cent. KSA-Technopak, a retail consulting and research agency, predicts that by 2010, organized retailing in India will cross the US$ 21.5-billion mark from the current size of US$ 7.5 billion. Retailers in India are the most aggressive in Asia in expanding their businesses, thus creating a huge demand for real estate. Their preferred means of expansion is to increase the number of their outlets in a city, and also expand to other regions. Deutsche Bank's research report on 'Building up India' says India's burgeoning middle class will drive up nominal retail sales through 2010 by 10 per cent per annum. The country may have 600 new shopping canters by 2010.
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A winning combo
The most frequently encountered version of the pure entertainment centre consists of a multi-screen cinema; two or three high-atmosphere, brand name restaurants; perhaps a nightclub or two; and an eclectic mix of tenants. Tenants are of local, regional and/or national repute and offer unique goods and services, or they present ordinary goods in a unique manner which attracts the customers.
Retail Formats:
There are different kinds of retail formats which are practiced by various firms depending upon their particularity Cash and Carry: This retail format focuses on small-wholesale customers who pay in cash. Here arise additional functional requirements for the automation system: prompt processing directly at the points of purchase; and two or more price-lists for retail and small-wholesale customers. Hypermarket: Among the specific features of a hypermarket is the wide range of goods, attention to service and to the display of the goods on the shelves, as well as the complicated systems of gaining loyal customers. Allows a hypermarket to work effectively with a huge variety of goods, even in the case of decentralised pricing. Discounter: The main competitive advantage of a discounter is low prices, which is possible due to the considerable supply volumes. To be able to sell such volumes of goods one needs large number of shops, prompt data exchange between them and the head office, as well as an effective operation of the distribution centre. Clothing Chain: Clothing chains have a number of specific features; support of various configurations of goods (size, colour, collection), organisation of complex marketing campaigns and customers loyalty systems. This allows for prompt adjustment, procurement and pricing policy, as well as personifies the relations with each customer.
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In many ways, malls reflect the state of our society and act as agents of change. Rising incomes and busier lifestyles are creating the space for malls in the lives of the urban mass affluent. Leisure time is limited and a visit to the mall can do a lot for a busy family - domestic chores like grocery shopping are taken care of and food courts and restaurants save the bother of cooking dinner after hectic shopping apart from keeping children entertained. Combine this with the consumer's rising purchasing power and his increasing focus on value proposition rather than just price, and malls suddenly start becoming more relevant. As Indians keep discovering malls, the retailers will also discover what they want and evolve the malls. "In the near future, there will be a clear-cut categorization of malls. There will be premium, luxury and value malls and existing formats will change radically according to size and category." The mall culture is growing deeper because of rising income level, changing age profile, low interest rates, changing consumption pattern and attitudinal shifts. Average
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household income even in urban areas has grown at 5% per annum compounded annually over the last decade. In nominal term, if inflation is included, the growth rate is 10% per annum.
At the same time, numbers of young spenders are also increasing which likely to reach to 312 million from the current level of 260 million. Availability of cheap loan has fuelled the consumption expenditure in the country. It has changed the consumption pattern. The share of expenditure on discretionary items will rise which would encourage consumerism in the country.
Mall will further fuel the discretionary spending as it would expose the customers to new items. Mall would provide suitable environment, particularly to the age group between 15 to 45, for shopping. Therefore, the expectation is that not only the foot-fall but the business would also increase substantially in mall in coming years.
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The discipline of retailing: As a social science discipline, retailing is the study of the interaction of consumers and their social institutions as they conduct transactions (that is exchange of goods, services, ideas) in the market place (broadly defined).
The science of retailing: Retailing as a science is the attempt to organize our knowledge about retailing through observation, study and experimentation and to use this information in broadening our base of knowledge.
The managerial point of view: Retailing is an attempt to manage transactions at the point of ultimate consumption for the benefit of the organization and society
Classification of Retailing
Retailing is extremely diverse. Although all retail stores share the common focus of selling to ultimate customers, retail stores have different formats, sizes, policies and marketing strategies. This has led to various classification schemes to categorize retail stores. They are:
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Classification of Retailing 1. Service versus product retailing 2. By type of Automotive dealers Merchandise
Motor vehicle dealers Miscellaneous automotive supply Automotive Dealers dealers Auto and home supply stores
Furniture, home furnishing and furniture, home furnishing equipment dealers and Household appliances, radios and TV equipment dealers stores Other stores Building materials hardware Building material stores garden supplies and mobile home Hardware Stores dealers Other stores Apparel and accessories stores Mens and boys clothing and furnishings Womens clothing Specialty stores Furriers Shoe stores Other apparel and accessories store Grocery stores Other food stores
Food stores
Gasoline service stations General merchandise stores Department stores Variety stores Other general merchandise stores
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consumer contact
Mail order
By catalog selling By advertising in regular media By membership club plans By house to house canvassing By regular delivery route service By party plan selling
4. By type of location
Central business district Secondary business district String street location Neighborhood location Controlled (planned) shopping center Public market stalls Downtown neighborhood
Small city Rural stores Full service Limited service (cash and carry) self-Service proprietorship partnership Corporation special types Undifferentiated Departmentalized
of Single unit independent store Multi unit retail organization Manufacturer owned retail outlets consumer Co operatives Farmer owned establishment Company owned stores Government operated stores Public utility Co stores
By number of employees
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By annual sales volume 11.By degree integration of Nonintegrated integrated with wholesaling function Integrated with manufacturing
Six Global Formats of Retailing The major formats of retailing currently being employed are Formats Characteristic Supermarket
Example
30%of the grocery market. 4000-20000 Tesco, Safeway square feet in size, strong focus on food and personal care 40000 square feet plus, out of the town Super centers - Wal-Mart store that stocks grocery (typically 50% of sales and space), apparel, electronics and consumables Targets large institutional buyers and Sams Club household looking to buy large quantities. captures 10%of the grocery market Stripped supermarkets, offering a basic range of grocery products at great discounts 400-2000 square feet, self service format, account for the 10%of the grocery market This traditional format, next-door stores
Hypermarket
Warehouse Club
Discounters
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Product The basic aim of the Product or Merchandising strategy is to serve the customer in a better way than any comparable retailing organization in its market segments. The five rights of successful merchandising are to ensure that the customer is offered the right merchandise, at right place, at right price, at right time and in the right quantities. The peculiar characteristic shown by the Indian consumer is his habit of comparing the products of various brands and then arriving at the purchasing decision. This makes the retailer to store appropriate kinds of merchandise in the retail store.
People Todays Indian customer is looking for personalized attention in this world of mass merchandising and mass marketing. This is where the personnel at the retail store plays a special role in making the customer feel that he is the most important customer to them. The basic quality that these store personnel is to have empathy with the customer, understand his problems and deliver the services and solutions to his problem in a better way.
Presentations Consumer responds to more than a tangible product or service. Thus retailers cannot neglect the psychological effects of their outlets on consumer purchasing behavior. These effects are called silent language of communication. Let it be any customer in the world the 22
quality of the retail store is usually associated with the way the retail store is presented to him and the Indian customer is no exception to it. This makes the retailer to present his store to the Customer in a better way.
Place The basic reason for the sustainability of mom-n-pop store in India is the easy of accessibility they provide as they are located very much near to the customers. This makes the location an important factor which the retailer needs to look into to give ease of accessibility and convenience to the customers and eat away the market share of mom-n-pop store.
Promotion Just as price is the most important factor for Indian consumer so is the promotion. The promotional schemes not only include the advertising schemes but also the discount schemes for which the Indian customer pays the most attention. This makers the retail store to keep on developing continuous promotional schemes to motivate the customers for buying.
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But the picture is quite different for retailerscategory killers, department stores, discounters, and the likethat sell a range of other companies brands. Although some multibrand retailers have managed to command a national brand identity (in Searss case, one founded on reliability). Many suffer from a lack of brand distinctiveness independent of the brands they carry. In fact many multibrand retailers have lavished more thought and care on those brands than on their own banner. But the multibrand retailers like their single-brand Counterparts, can and must create a brand personality with which consumers want to identify and rethink the underlying business system that is needed to deliver it.
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The first and the foremost thing which needs to he done while opening a retail store is to do a detailed strategic planning. The various issues covered in this strategic planning are
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Brand
A brand is a product from a known source (organization). The name of the organization can also serve as a brand. The brand value reflects how a product's name, or company name, is perceived by the marketplace, whether that is a target audience for a product or the marketplace in general (clearly these can have different meanings and therefore different values). It is important to understand the meaning and the value of the brand (for each target audience) in order to develop an effective marketing mix, for each target audience. The value of the brand for a web-based company may have heightened importance due to the intangible nature of the web.
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Leveraging aggressively
Having found the golden thread and built a personality around it, diversified brands move both to cross-sell and to claim as their own new industries where brand intensity is low and where their brand thus enjoys a competitive advantage.
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Branding:
BRANDING is the term used to describe all the things a marketer does/can do to affect the brand image, and hopefully create the associations and experiences that will make the BRAND IMAGE a strong one. Of course, there's only so much a marketer can do to communicate the essence of a brand. It's in the customers' minds, and only the customers control that. Understand this way, a BRAND is a promise -- a promise of an important benefit, delivered the same way, time-after-time. It's not something the marketer says or does. It's what the target audience sees, hears, experiences, and believes to be true.
BRAND and BRAND IDENTITY and BRAND IMAGE are very close in meaning. You use BRAND when you're talking about the product or company itself, and you use BRAND IDENTITY or BRAND IMAGE when you're talking about the way people perceive the product or company.
Brand Image: The perception of your product or your brand by the consumer. Brand Equity:
Brand Equity is an intangible asset that depends on associations made by the consumer. There are at least three perspectives from which to view brand Equity: Financial terms: One way to measure the Brand Equity is to determine the price premium that a brand commands over a generic Product. However, expenses such as promotional costs must be taken into account when this method is used to measure Brand Equity. Brand Extensions: A successful brand can be used as a platform to launch related products. The benefits of brand extensions are the leveraging of existing Brand Awareness thus reducing the advertising expenditures, and a lower risk from the perspective of the consumer.
Consumer based: A strong brand increases the customers attitude strength toward
the product associated with the brand. Attitude strength is built by experience with a 29
product. The customers associations and lead to perceived quality, inferred attributes, and eventually brand loyalty.
Brand Value:
Brand value is the dollar value of a brand, calculated as net present value (NPV), or todays value of the earnings the brand is expected to generate in the future. Like any other financial value, brand value is, at a point in time, based on the assumptions and information available at that point in time. Brand value is calculated according to the most widely accepted and used valuation principles. This makes brand value comparable to business- and all NPV-based asset values.
Advantages of Branding:
Well defined and carefully managed brands provide many competitive advantages to firms everyday: Increased initial sales Repeat purchases Customer retention during adversity Higher prices Greater message receptivity Increased new product acceptance
Branding Advantages can help you gain the competitive advantage today.
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Literature Study
The first step of any research study is literature study. Based on the study objective during the literature study the specific areas and issue up on which data gathering will be decided. It is a paramount importance because it equips the researcher with macro view of micro issues.
It gives exhaustive information to the researcher in the area and provides diversified view on particular subject. Academic journals, conference proceedings, report books etc are must e tapped depending on the nature of the problem. It is the process that one source would lead to another. The literature review encompasses different kinds of information sources concerning the identification of various reason behind the assessment if service quality. It started with search in Internet and textbooks and other relevant magazines. The earlier studies, if any which are similar to the study, concerning the problem at hand must necessarily be surveyed and examined before a definition of the research problem is given. This is done to find out what data and other materials, if any are available for optional purpose. All this will enable a researcher to take new strides in the field for furtherance for knowledge, i.e., he can move up starting from the existing premise.
The central idea in review of literature is data gathering. So, review of literature is carried on. A researcher should carefully scrutinize the available information and use discretion, to find out whether the gathered data is adequate and sufficient for the problem.
The references were made and extracts were drawn from old project reports and ICFAI journals. The summary, questionnaire design etc are made with the reference from those reports.
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5% 20%
4% Forum 44% Garuda mall Bangalore Central Sigma Mall EVA Mall
27%
Inference: From this table it is clear that most of the respondents know about Forum, Garuda and Bangalore Central Mall than any other Mall in Bangalore. More than 40% of people know about Forum when compared with any other Mall. Respondents are aware of Forum because it was the first Mall built in Bangalore which gave a different look about shopping to Bangaloreans.
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Table No. 2 This table depicts the reasons of awareness about the Malls: Sl No 1 2 3 4 Friends Ads News papers Any other Total Particulars No of Respondents 64 7 28 21 120 Percentage 53% 6% 23% 18% 100%
Chart No 2 Shows the means through which people came to know about the Malls:
Percentage
Inference: From the above table and Graph we can infer that approximately 53% of the
respondents were aware of the mall only through friends. We can say that word of mouth publicity contributes very much towards the awareness of the malls.
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Table no. 3 This table shows the frequency of visit to the Malls in the past one month Sl No 1 2 3 Particulars Once 2-4 Times More than 4 Times Total No of Respondents 41 62 17 120 Percentage 34% 52% 14% 100%
Percentage 60% 50% Percentage 40% 30% 20% 10% 0% Once 2-4 Times More than 4 Times
Inference: We can infer from the above table and graph that approximately 52% of the
respondents visited the Malls 2-4 times in the last one month.
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Table No 4 This Table shows the reason why people visit the mall: Sl No 1 2 3 4 Particulars Window Shopping Shopping Entertainment Food Total No of Respondents 13 48 41 18 120 Percentage 11% 40% 34% 15% 100%
15%
11%
34%
40%
Window Shopping
Shopping
Entertainment
Food
Inference: From the above graph it can be inferred that most of the respondents went to the
Mall for Shopping and entertainment. Malls have become a good place for entertainment many people usually go to the mall with the mind of shopping but when they feel the atmosphere they think that it should be meant for entertainment rather than for shopping.
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Table No 5 This table shows the duration of stay in the Mall: Sl No 1 2 3 Particulars Less than 1 Hour 1-3 Hours More than 3 hours Total No of Respondents 20 57 43 120 Percentage 17% 48% 35% 100%
Chart No 5 How long will the customer stay inside the Mall
Percentage 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Less than 1 Hour 1-3 Hours More than 3 hours
Inference: From the above table we can infer that most of the respondents stayed in the
mall in the Range of 1-3 hours during their Visit. People stayed in the Mall because they feel that malls are good to spend time rather than spending time in other places. In malls people feel that they can spend time with leisure.
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Percentage
Ranks 2 3 1
Calculation: As a place to Shop = (60*5+21*4+20*3+12*2+7*1) =475 Cumulative Score/100 475/100=4.75 As a place to Eat = (26*5+48*4+36*3+10*2+1*0) =450 450/100=4.5 As a place for entertainment = (80*5+23*4+12*3+5*2+0*1) =538 538/100=5.38
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Chart No 6:
5.4 5.2
Cumulative Score
Cumulative Score
Inference: Many of the people who visit malls come for entertainment for which it is not
meant for but since malls are built for generating revenues from shopping. It is good that people are going to malls for entertainment purpose. Which in turn also will produce revenue for the Malls.
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Table No 7:
This table represents the main reasons which arouses interest in Malls Sl No 1 2 3 4 5 6 Particulars Variety of Shops Shops are convenient & Accessible Selection of Restaurants Good Place to Socialise Entertainment/Movies Good customer Service Total Chart No 7 This chart shows the reasons which arouses interest in Malls No of Respondents 31 41 22 6 16 4 120
4 16 6 31
Variety of Shops Shops are convenient & Accessible Selection of Restaurants Good Place to Socialise
Inference: From the above table and graphs we can infer that the main reason which
interests people to visit malls is that the shops present there are convenient and accessible .This proves that to increase the number of footfalls it is imperative to have a large number of shops which provide avenues for shopping.
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Table No 8 This table represents the various categories in a Mall that interests the customer: Sl No 1 2 3 Particulars Clothing Jewellery Electrical/Electronic Appliances 4 5 Food Movies Total 12 20 120 10% 16% 100% No of Respondents 31 4 53 Percentage 26% 3% 44%
Chart No 8 This chart represents the various categories in Mall that is interested for the customer:
Clothing
Jewellery
Electrical Appliances
Food
Movies
Inference: From the above table and graph it can be inferred that the main reason of interest
for purchase is Electrical/Electronic Appliances (ex: i-pod, MP3 players, Play station).Followed by purchase of clothing.
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Table No 9
This table studies the how Respondents feel about the quality of service when they visit Malls: SL No 1 2 3 Particulars Satisfied Dissatisfied Unsure Total No of Respondents 67 42 11 120 Percentage 56% 35% 9% 100%
Chart No 9 This chart shows how the customers feel about the quality of service to respondents at Malls:
9%
35%
56%
Yes
No
Unsure
Inference: From the above table we can infer that approximately 56 % of the respondents
are satisfied with the quality of service they receive when they visit the malls. It means that most o the respondents are satisfied with the quality of service if its improved further more then it would be more appreciating for the Malls when the New Malls come up in the town.
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Inference: From the above table we can infer that most of the respondents rate the
parking facilities at the malls as fair, and approximately 31 % of the respondents rate as good. So we can infer that the parking facilities at the malls are satisfactory.
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40 35 30 25 20 15 10 5 0
Highly Satisfied
36 28 19
10 7
Satisfied
Neutral
Dissatisfied
Highly Dissatisfied
Inference: From the above table it can be inferred that that the respondents are satisfied
with the cost of the parking facilities at the malls. Since they feel secured when they park their vehicle in the mall it would be easy for them to get back to their vehicle easily and go back home. Now a days the parking rates are same in every mall except in some special cases.
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Table No 12
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Inference: From the above table and graph it can be inferred that most of the
respondents have rated the quality of life in the malls as good. Quality of life here refers to what people feel when they come to Malls like: Secured, Hassle free atmosphere, the quality of music they play in Mall.
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Table No 13
This Table shows the customers opinion about the Location of the Malls SL No 1 2 3 4 5 Particulars Excellent Good Fair Poor Very Poor Total No of Respondents 21 47 29 16 7 120 Percentage 18 39 24 13 6 100
Inference: From the above table it can be inferred that the respondents feel that the
Location of Malls are good. Many people are comfortable with the location of the mall. People feel that the even though the Malls are located far from their houses they are comfortable to come to the Malls and go back since the approach is good.
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FINDINGS
These are some of the findings which were evident from the study.
1. Forum Mall has the maximum level of awareness amongst the respondents because it was the first Mall built in Bangalore which gave a different look about shopping to Bangaloreans. 2. Most of the respondents came to know about the Mall through Friends and News papers Promotional ads. It comes to evident that Word of Mouth is a very good means of communication when it comes to Malls. 3. It is evident that most of the respondents came to Malls for more than twice in a month because they feel that malls are the best place to spend time than spending time elsewhere. 4. From the study it is evident that most of the respondents visited the Mall for Shopping and Entertainment rather than for Window shopping and Food. 5. Most of the respondents who visited the Mall used to stay in Mall for more than 2 hours usually many of the respondents came to Mall from very distant places and returning back to their places within a short period made uninteresting so they stayed in Mall for more than 2 hours. 6. Many respondents rated the malls as a best place to shop as they used to shop for clothing and Accessories which they felt are the Best place to shop because all the malls host a very good variety of clothing and accessories. 7. Respondents rated the mall as a good place to eat because they think that most of the Malls consist of Food Courts which were selective and good. 8. When it comes to entertainment most of the respondents feel that malls are the best place for entertainment because of the Multiplex theaters and the host of promotional programmes which are put up form time to time. 9. Most of the respondents feel that shops should be convenient and accessible to shop and they also feel that food courts are also of same importance to people which interests them to visit the Malls.
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10. It is evident that most of the respondents are interested in purchasing Electrical/Electronic appliances from the Malls because they trust in the genuineness of goods in the malls rather then purchasing from other shops. 11. Most of the respondents feel satisfied with the quality of service provided in the Malls. This attracts more customers when the service quality is good in a Mall. 12. The respondents were not satisfied with the parking facilities provided in the Mall because during the weekends there will be no space for vehicles after 6 pm which make many of the customers feel panic when parking is not available when they come from distant places. 13. It is evident that most of the respondents feel satisfied with the cost of Parking facilities in the Malls but many of them are no satisfied because many feel insecure when they park their vehicles because of some discrepancies. 14. Many respondents are happy with the Quality of life in Mall which comprises of things like they can visit shops which ever they want, the prices are fixed and there is no cheating the payment process, etc 15. Even though Malls in Bangalore are far except Garuda and Bangalore Central which are located near when compared to others. Respondents feel that location of Malls in Bangalore is good as the approaching is good.
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RECOMMENDATIONS
1. Since people are looking for different experience while shopping Malls in Bangalore should look in for more variety of shops rather than only luxurious goods and Clothing. 2. Many of the Malls cater to the needs of Niche segment rather than focusing on Middle class people which is much bigger segment. If their needs are catered then the Malls would do much better than what it is doing now. 3. Malls like EVA and Sigma should look for attracting more customers by conducting some stage shows on weekends in order to attract more and newer customers. 4. Parking facility is a main bane for all the Malls which will create problem for customers during the weekends. So I would like to suggest allotting more space for parking which makes people to feel comfort while parking their vehicles in Malls. 5. The malls should introduce some of the Gaming centers which would make the malls more crowd attracting and will also increase the revenue for the Malls. 6. Since most of the customers come to Malls for shopping and entertainment I would like to suggest that much importance should be given to these areas which makes the people who visit Mall to visit the Malls more frequently. 7. Most of the respondents feel that Malls are more convenient and Accessible which makes them to shop more easily. So they should also improve the range of shops in Mall which makes the customer much easy to shop than from any other place. 8. Many customers like to shop for apparels and other luxurious goods in Electrical segment so much importance should be given for them which makes the customers to shop happily. Rather than searching for goods which they like. 9. It is seen that much of the respondents were satisfied with the service quality in Malls but some of them are not satisfied with the service level so if they are not satisfied then word of mouth will cause much effect to Malls. 10. It is observed that in Malls many other people will be doing survey but till today no mall has introduced a opinion survey as to how they feel about the malls if this done the Mall people will know where they are lagging behind and necessary changes can be made for the discrepancies. 48
11. Many people who like to spend time in Mall will not find any place to sit if this is provided then much more Mall Rats can be attracted which in order increases the image of the Malls. 12. Most of the people felt the quality of life in Mall were good. If this is made excellent then it would help the customers to visit the mall more frequently.
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QUESTIONNAIRE
Creating and Sustaining value through Branding for Malls
Personal Details Name: Sex: Male Female Age: 20 20-30 40 & above Income Group: 10000 p.m 10000-20000p.m 20000-40000p.m 40000 & above p.m 1. Which are the Malls in Bangalore that come to your mind: Forum Garuda Sigma Central Eva Any other: 2. How did you come to know about the Malls? Friends Ads News Paper Any other: 3. How many times in the past one month have you been to the Malls: Once 2-4 Times More than 4 Times 4. The main Reason why you visit Malls: Window Shopping Shopping Entertainment/Movies Food 5. How long do you stay when you come to Malls: Less than 1 Hour 1-3 Hours More than 3 hours. 6. How would you evaluate the following aspects of a mall: Excellent Good Fair Poor Very Poor Statements As a place to Shop As a place to Eat As a place for Entertainment
7. Kindly mention the reason which arouses your interest about in Malls: The Variety of Shops The shops are convenient & Accessible Selection of Restaurants
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Good Place to Socialize Entertainment/Movies Good Customer Service 8. Which category of shops in a mall that interests you more: Clothing Jewellery Electrical Appliances Food Movies 9. Do you generally feel satisfied with the level of customer Service you receive from retail stores in a Mall? Satisfied Dissatisfied Unsure 10. How do you rate the following things in a Mall: Sl. Excellent Good Fair Poor Very Poor Statement
No
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BIBLIOGRAPHY
(a) Books:
1. 'Retailing' by Roger Cox and Paul Brittain. Pearson Education Publications, Fifth Edition, 2006 2. 'Retail Management--A Strategic Approach' by Barry Berman and Joel R Evans, Pearson Education Publications, Ninth Edition, 2006 3. 'Retailing in India' Edited, ICFAI Publications, 2006 4. Retailing: General' by Standard & Poor's Surveys 2002 5. ' Retailing Specialty' by Standard & Poor's Survey 2002 6. 'Selection of Retail Locations' by Richard L Nelson, F W Dodge Publications, New York, 2000 7. 'Retailing on the Move: An Era of Change' by Thelma Snuggs, Black Collegian Publications 2000
www.surveyconsole.com
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