Professional Documents
Culture Documents
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SUPERVISED BY:-
SUBMITTED BY:-
Angela Monteiro
TYBMS 5th SEM
5023
CONSUMER BEHAVIOUR TOWARDS THE
I would like to thank my Project Guide Prof Mona Bhatia for her
immense guidance, valuable help and the opportunity provided to me to
complete the project under her guidance.
Last but not the least, my gratitude to great almighty and my parents
without whose concerned and devoted support the project would not
have been the way it is today.
ANGELA MONTEIRO
EXECUTIVE SUMMARY
Consumer behavior is the study why, when, what, where and how.
Often do consumers buy and consumes different products and services.
Knowledge of consumer behavior is helpful to marketer in understanding
the needs of different consumer segment and developing appropriate
marketing strategy for each.
A shoe has much more to offer than just to walk, perfectly sums up
the Indian Footwear story. Last decade or so has witnessed sea change
in the footwear industry, from a basic need based industry to a fashion,
style, quality and performance focused industry. These changes have
been driven by a host changing of demographics and economic factors
like growing young and working population, increasing disposable
incomes, increased discretionary.
The retail footwear market can be divided into man women and
childrens market. India is the only country where mens footwear is the
biggest target category contributing around 61% followed by womens
footwear contributing almost 24% and childrens footwear contributing
around 15%. In most of the countries in the world, women footwear
dominates the footwear retail market whereas in india it is the mens
category dominating the footwear retail market
1.2 RESEARCH METHODOLOGY
2. OBJECTIVES OF RESEARCH
3. RESEARCH DESIGN
6. RESEARCH INSTRUMENTS
A. Primary data
Data that has been collected from first-hand-experience is known
as primary data. Primary data has not been published yet and is
more reliable, authentic, and objective. Primary data has not been
changed or altered by human beings; therefore its validity is
greater than secondary data.
Primary data has been collected through personal contact. For this
purpose both questionnaire and one-on-one interview was
considered with the consumer and shop owner.
B. Secondary Data
Data collected from a source that has already been published in
any form is called as secondary data. The review of literature in
the research is based on secondary data. Mostly from books,
journals and periodicals. Secondary data has collected from
newspapers and websites.
8. DEVELOPMENT OF THE QUESTIONNAIRE
A questionnaire was utilized for data collection. The instrument
was designed to elicit responses from females and males age 25
to 65 years in the U.S. who wear leather dress shoes to work at
least one day a week. A self administered mail questionnaire was
constructed regarding the respondent's (a) footwear opinion
leadership, (b) preferences regarding footwear worn for business
wear, (c) favorite and purchased footwear brands, (d) stores
shopped for footwear, (e) footwear Involvement, (f) footwear
purchase criteria, (g) footwear consumption patterns, (h) footwear
characteristics, and (i) socio-demographic characteristics
9. DATA ANALYSIS
After collecting and analyzing all the facts and aspect, final report
with all relevant points was prepared.
Footwear Industry: Introduction
Retailing is the most active and attractive sector of last decade. While
the retailing industry itself has been present since ages in our country, it
is only the recent past that it has witnessed so much dynamism. The
emergence of retailing in India has more to do with the increased
purchasing power of buyers, especially post-liberalization, increase in
product variety, and increase in economies of scale, with the aid of
modern supply and distributions solution. Footwear is a necessity to
every person and at the same time is now a lifestyle as also a
performance enhancement product; and is thus a segment with vast
potential. The Indian footwear market is estimated to be worth Rs.13,
750 Crore and constitutes just about one percent of Indian retail. About
37.8 percent of Footwear retail is in the organized segment, which
qualifies it as the second most organized retail category in India, next
only to Watches.
The footwear market today is showing a trend where more and more
competitors within the segment are coming together and forming
alliances through cross-promotions and tie-ups benefits for enhanced
reach and offering the consumer access to a wider range of products
and brands.
Customers around the world are heavily influenced by the image
that a brand portrays and, as a result, leading companies are
carrying out a number of wide-ranging initiatives to strengthen and
re-position their brands.
These initiatives range from launching new products and new
advertising campaigns to selective sponsorship and brand placement.
Consumer retention remains a vital factor for footwear companies'
continued success, and a market position can be improved or lost
depending on customer numbers. Brand equity of products is becoming
- and will continue to be - one of the most important factors affecting
consumer purchasing decisions. Increasing competition and falling
prices have driven suppliers to re-think their strategies and develop
additional capabilities such as:
- Product development and design
- Logistics management
- IT infrastructure
- Inventory control.
Footwear Market Trends
Footwear is much more than simply a functional item to keep the feet
warm and dry. Footwear is part of a person's overall attire and
appearance and it is perceived by the wearer to reflect their individuality
and status. Shoes are essentially a fashion item subjected to periods of
fluctuating demand throughout the year. Trends in colour from
companies that produce dyes for tanners, information on new shoe
components, and styling are Important for the leather shoe industry in
developing potentially profitable commercial products.
Other factors that now affect the footwear industry are: extension of
branding in clothing to footwear, less footwear sold through specialty
footwear retailers, growth In home shopping though catalogs and the
Internet, availability of custom-made footwear, 3D visualization of
footwear, less stock being carried at retail, and intensified gathering of
data on shopping habits through loyalty and similar product
differentiations techniques.
HISTORY
During the Middle Ages, both men and women wore patterns,
commonly seen as the predecessor of the modern high-heeled shoe,
while the poor and lower classes in Europe, as well as slaves in the New
World, and were barefoot. In the 15th century, choppiness was created
in Turkey, and were usually 7-8 inches (17.7-20.3 cm) high. These
shoes became popular in Venice and throughout Europe, as a status
symbol revealing wealth and social standing.
Leather
Plastic
Rubber
Textiles
Wood
Jute
Metal
The footwear industry has continued to grow and maintain market share
even though new materials are being developed for footwear. However,
thoughts on how the footwear market will evolve are split. Some believe
that footwear is a global market that can be standardized, perpetuating
mass production of high volume uniform styling. Others see different
countries and markets having their own specific needs, encouraging a
move away from volume production. In either view, future success in the
footwear industry will depend on efficient global resourcing to ensure
that the right quantities of shoes in the right sizes are in the right retailers
at the right time
Future Outlook
The future growth and prosperity of the footwear market will depend, in
part, on how accurately the target market is defined and on the
development of product assortments based on distinct purchase
behavior. Segmentation based on consumers' product involvement and
their perceptions of product attributes can contribute to successful
targeting of specific profitable markets. In order for segmentation to be
successful, the market must be described in measurable terms, be
accessible, be divided into homogeneous groups, and be potentially
profitable (Cross, 1999). By segmenting the market, companies can
determine the best marketing mix or products needed to target particular
consumers (Sauerman, 1988). Current changes affecting marketers
such as, micro marketing segmentation, global market segmentation,
direct marketing segmentation, retail segmentation, geo-demographic
segmentation, segmentation for optimizing service quality, segmentation
for customer satisfaction evaluation, segmentation for new product
development, segmentation using single-source data, and so on (Wedel
& Kamakura, 1998; Myers, 1996; Wensley. 1995;
Weinstein, 1994) will all impact footwear retailers and manufacturers. An
effective segmentation program based on product Involvement and
product attributes will help analyze markets, find unique opportunities,
and increase market share (Cross, 1999). The footwear industry has
continued to grow and maintain market share. However, the future
profitability of the footwear industry depends in part on how well
marketers can continue to provide consumers with the right mix of
products and effectively target consumers based on their footwear
preferences. Segmentation based on product Involvement and product
attributes can become an effective tool to this end.
KEY PLAYERS:
Bata is name that is synonymous with quality and durability. Over the
years, this shoe company has retained this quality of value for money by
producing products that are easily within the reach of common
consumers. With an exclusive showroom in Ahmedabad, today Liberty
Shoes Ltd. produces footwear for the entire family and is a trusted
name across the world. Another popular shoe store among the locals is
Metro Shoes. Metro offers a wide variety of footwear for all age groups
like shoes, sandals, chappals etc. for both men and women. It is a one
stop shop for all your footwear needs. Another name to reckon with in
the footwear market of Ahmedabad is Woodland. The brand name itself
is an icon of simplicity blended with trustworthiness. The rough and
tough shoes, sandals and chappals can be worn on the toughest of
excursions and they will never let you down. Lifestyle's footwear section
offers a wide range of latest model shoes of various brands. Khadims
Started footwear retailing in 1993, it is one of the pioneer in footwear
industry in India offering quality products at affordable prices.
Besides this there are some small retailers as well fighting for the market
pie.
They are:-
Catwalk
Puma
Red chief
Red tape
Relaxo
Reliance
Tresmode
Nike
Action
Adidas
Crocs
Pavers England
Conclusions- Implications and Inferences:
Retailers often want to know how to more effectively tailor their
marketing, advertising, and promotional activities based on a specific
market segment to which a consumer belongs but lack precise identifiers
needed to predict group membership. Overall, the analyses offer
considerable support for the assumption that identified extrinsic and
intrinsic product attributes can influence their purchase decisions for
footwear.
Interpretation
As per the responses to the survey, 23%
women responded that they try new fashion
ideas before their peers, while 24% felt that it
is important that the footwear I wear be of the
A latest styles.
B This can be attributed to the increasing
C
urbanization and exposure to mass media like
E
television.
D,F,G
45% ladies said they try new and different
places to shop for footwear.
All the respondents were looking for quality
product and comfort at affordable prices.
2. How many pairs of footwear have you purchased for yourself during the past 2
years?
Pairs of footwear
shoes
sandals
chappals
Interpretation
On an average, ladies purchased 1 pair of shoes, approximately 3 pairs of
sandals and 2 pairs of chappals.
3. How satisfied were you with the selection in the retail stores:
Very Satisfied
Satisfied
Dissatisfied
Very Dissatisfied
retail
Very Satisfied
Satisfied
Dissatisfied
Very Dissatisfied
Interpretation
67% of the responses fell in the range of somewhat satisfied to very satisfied.
The individual break up is as follows:
Dissatisfied- 20%
Satisfied- 47%
Very Satisfied- 10%
Very Dissatisfied- 23
6. Where do you most often shop for footwear? (Check One)
shops
Qualities of footwear
27 26
Better Quality
Better Selection
Better Comfort
7
19 Lower Price
21 Better Fit
8. How do you get aware about this particular Brand ?
Advertisement Sales Persons
Friends Exclusive Showrooms
Any Other
9. From where do you like to purchase your Branded shoes?
Yes No
Indifferent
BIBLIOGRAPHY:
http://ahmedabad.clickindia.com/business/shops/sportsfootwear.ht
ml
http://footwearsinfoline.tripod.com/indian_retail_overvw.htm
http://footwearsinfoline.tripod.com/retail_current_scene.htm
http://footwearsinfoline.tripod.com/footwear_retail_overvw.htm
Aaker, D.A., & Day. G.S. (1990). Marketing Research. (4^^ Ed.).
New York: John Wiley and Sons.
Department stores are the prime sales and marketing channel for
branded shoes. In addition, store decorations and product displays
should be designed to create a strong first impression.