A Project Report on “To Study the Usefullness and Brand
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A PROJECT REPORT ON “TO STUDY THE USEFULLNESS AND BRAND AWARENESS OF IT PRODUCTS IN RETAIL SECTOR“ IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR MASTER IN MANAGEMENT STUDIES (MMS) 2011-2013 ROLL NO:- P-36 (MARKETING) SUBMITTED TO DR. V.N. BEDEKAR INSTITUTE OF MANAGEMENT STUDIES, THANE 1 STATEMENT BY THE CANDIDATE I wish to state that the work embodied in this Project titled “TO STUDY THE USEFULLNESS AND BRAND AWARENESS OF IT PRODUCTS IN RETAIL SECTOR“ forms my own contribution to management. Wherever references have been made to intellectual properties of any individual / Institution / Government / Private / Public Bodies / Universities, research paper, text books, reference books, research monographs, archives of newspapers, corporate, individuals, business / Government and any other source of intellectual properties viz., speeches, quotations, conference proceedings, extracts from the website, working paper, seminal work et al,they have been clearly indicated, duly acknowledged and included in the Bibliography. _________________________ _________________________ Signature of project Guide Signature of Candidate 2 Acknowledgement I take this opportunity with much pleasure to thank all the people who have helped me through the course of my journey towards completing this project. I sincerely thank my mentor, Ms. Swapna Tamhankar, for her guidance, help and motivation. Apart from the subject of my research, I learnt a lot from her, which I am sure, will be useful in different stages of my life. I would like to express my gratitude to Mr. Dhananjay Maniwade(Field Manager at IMRB) for his help in making me understand the working of IMRB and providing me help throughout my project. My sincere gratitude also goes to all those who instructed and taught me through the years. Finally, this project would not have been possible without the confidence, endurance and support of my family. My family has always been a source of inspiration and encouragement. I wish to thank my parents whose love, teachings and support have brought me this far. SAMEER Y. WAJE \ 3 Table of Contents EXECUTIVE SUMMARY .......................................................................................................................... 5 ABOUT IMRB INTERNATIONAL COMPANY .............................................................................................. 6 Need and Scope of Project .......................................................................................................................... 10 Project Objectives ....................................................................................................................................... 11 About the Itops Project ............................................................................................................................... 12 RETAIL INDUSTRY ................................................................................................................................. 13 Top Retail Formats in India ........................................................................................................................ 15 Retail Technology and the Evolving Shopper ............................................................................................ 16 Need of Information Technology in Retailing ............................................................................................. 17 How Information Technology Involved In Retailing Operations? ............................................................. 19 Applications of Information Technology in Retail ..................................................................................... 21 Some of the Information technology tools that retailers are using are: ...................................................... 27 Contribution of India‘s IT industry to Economic progress ......................................................................... 33 Advantages of conventional and modern organized retail formats ............................................................. 35 Literature Review ........................................................................................................................................ 36 Outcome of the Study from Customer Survey ............................................................................................ 41 Learning from the project ........................................................................................................................... 53 Conclusion ................................................................................................................................................... 54 Bibliography/ References ............................................................................................................................ 55 4 EXECUTIVE SUMMARY Industries in our modern day are facing tremendous pressures like society conformation, technology innovation and market competition. These three forces describe by Boyett and Boyett, (1995) catalyzed an organization to initiate goodwill responses, improve their technological platform and invent systems to automate their operational processes. These are efforts contributed to retain their competitive edge thus preserving their existence. The challenge of retailing is to strike the balance between cost optimization and maintaining the level of service. The trade-off between these factors is a dynamic one and retailers have to endeavor to strike a balance towards it all times. Technology has become the basic fabric of the retailing industry today. Perhaps the most important fact is that retailers who do not understand the ways to use technology for competitive advantage will be left out in the competition. This study is an effort to understand the applications of information technology in the modern retail industry, like in supply chain management, store management, point of sale and customer relationship management. With the help of case studies and a brief customer survey the current industry scenario is also studied. 5 ABOUT IMRB INTERNATIONAL COMPANY INTRODUCTION: IMRB International, the erstwhile Indian Market Research Bureau (IMRB), established in 1971, is the oldest & largest market research organisation in India and South Asia. IMRB International is part of the world renowned Kantar Group, the Insight and Consulting Division of the 10 Billion WPP Plc. The other partners in the Kantar world include Research International, Millward Brown, BMRB, etc. In India, IMRB International is owned by HTA Private Limited which also owns the world renowned advertising agency, JWT. In 2005, IMRB International managed 2,500 projects and 40,00,000 interviews across all its offices in India. 6 IMRB International promises high quality conceptualization, strategic thinking, execution and interpretation skills on all its clients' research needs. IMRB International is the only research company in India today that offers the entire range of research based services to its clients. IMRB International's specialized areas are consumer markets, industrial marketing, business to business marketing, social marketing and rural marketing. The company has ability to provide the highest quality of professional services to the utmost satisfaction of our clients which include small medium and large scale industries, government and public sector units, multinational corporations and international companies. To serve the diverse needs of our clients, the company has five specialist units: • Probe Qualitative Research (PQR) • Social and Rural Research Institute (SRI) • Media & Panel Research Group • Customer Satisfaction Management & Measurement (CSMM) • Business & Industrial Research Division (BIRD) and the e-Technology Group IMRB offers the full spectrum of customised research services which besides consumer research, includes trade research, industrial market research, business to business research, trade and tourism research, corporate image research, media research, financial services research, medical marketing research and social research. 7 In addition, IMRB offers a wide array of syndicated research services in the field of technology, media and market measurement. Infrastructure and Resources Research staff IMRB has close to 400 professionals on its research staff for handling consumer, industrial and qualitative research. These include managers, project directors and research executives from diverse academic disciplines including engineering, statistics, psychology, social sciences, economics and management. All research staff is extensively trained in conducting market research through in house experts as well as faculty invited from the industry in India and abroad. The induction training programme of IMRB International – Lyceum, is well known in the research fraternity for imparting best quality training. Analysis and Systems staff Analysis of all survey research data is computerised. The in-house data processing cell has the state of art infrastructure (hardware and software) available to them. The department is manned by more than 150 full time computer professionals most of whom have advanced qualifications in computer applications and languages. These personnel are also well versed in the use of wide variety of off- 8 the shelf data processing packages such as SPSS, Quantum, Brio, MDS, Excel Pivots, CAN, LOTUS, FOXBASE, etc. Whenever necessary, customized analysis software is developed in-house using higher level programming languages such as C++, Visual Basic , Fortran,