final project hemlata

8/14/2019 Final Project Hemlata

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Preface

The I nd ian Ret ai l I ndus tr y i s t he l ar gest among a ll t he i ndus tr ie s,

accounting for over 10 per cent of the countrys GDP and around 8 per cent

of the employment. The Retail Indust ry in India has come for th as one of

the most dynamic and fast paced industries with several players entering the

market.

Modern retai l has entered India as seen in sprawling shopping centers ,

multi-storied malls and huge complexes offer shopping, entertainment and

food all under one roof.

As the contemporary re ta il s ec tor in India i s r e fl ected in sprawling

shopping centers , mul t iplex- mal ls and huge complexes offer shopping,

enter tainment and food al l under one roof , the concept of shopping has

al tered in terms of format and consumer buying behavior , usher ing in a

revolution in shopping in India.

V Mart , a leading chain of complete family l ifestyle stores spread across

India. In the rapidly growing retai l industry , V Mart has successfully

created a niche for i tself . Ltd. operates a chain of retai l s tores and sells

groceries, apparel , footwear, and menswear to middle and lower-middle

segments. Less Price Fashion is the main motto through which V Mart

believe in providing the latest t rends to the upwardly mobile Indians at

the best possible price.

V mart provides a comple te r ange of products r anging f rom Clothes,Accessories & Footwear for men, women and kids bes ides Cosmetics,

Luggage and Toys & Games. I t also provides a wide range of food, non-

food and staple items in our Kirana Bazaar section.


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Acknowledgement

A task or project cannot be completed alone. It requires the effort of many

individuals . I t ake thi s opportuni ty to thank a ll those who helped me

complete this project.

I express my s incere grat itude to Sir Adrish Bosu for g iv ing us the

oppor tunity to undergo thi s projec t . I fur ther thank h is for l ending a

helping hand when i t came to solving my problems related to the project .

This project would not have been possible without his valuable t ime andsupport.

I also thank Centum Learning Centre; Ajmer affiliated to Annamalai

University, Tamilnadu for an oppor tunity to under take a Soft ski ll s

project at the s tar t of our MBA course which helped us to unders tand

deeply for those topics which are untouched.

This project i s an at tempt to talk about the Marketing Strategies of a

Retail Chain Organization The 3Ps (Physical Evidence, Process &

People) of V-Mart, Ajmer .

Any suggestions to improve are always welcome.


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CERTIFICATE

This is to certify that the Project Report titled Marketing Strategies of a Retail

Chain Organization The 3Ps (Physical Evidence, Process & People) of V-Mart,

Ajmer submitted by Hemlata Jodhwat Enroll No: 5310801014 during Semester

Second of the MBA Program embodies original work done by her.

Signature of the Faculty Supervisor

Name (in Capitals) : Sir Abhinav Nigam

Designation : Faculty Incharge

Campus : CentumLearning Centre, Ajmer


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Contents

1 Introduction 4

2 Key Points of Indian Organised Retail Industry 6

3 Companys Profile: V-Mart 7

1. History 7

2. Mission 9

3 Visions 9

4. Values 9

4 V-Mart Ajmer 11

5. Profile 11

6. Segmentation 11

5 V Mart Aspire 12

6 V Mart Plus 12

7 V Mart Corporate 12

8 V Mart Values 12

9 Our Culture 15

10 Offers 16

11 Management Style 17

12 The Strategy 17

13 Marketing Strategies of A Retail Chain 18

Organisation The 3ps Of V Mart, Ajmer

14 Physical Evidence 2015 Process 2116 People 22

17 Objective 26


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18 Research Methodology 27

7. Data Source 28

8. Research Instruments 29

9. Sampling Plan 30

19 Analysis and Interpretation 31

20 Findings 37

21 Recommendations 38

22 Limitations 39

23 Conclusion 40

24 Bibliography 41


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Introduction

The Indian Retai l Indust ry is the larges t among al l the indust r ies ,

accounting for over 10 per cent of the countrys GDP and around 8 per cent

of the employment. The Retail Indust ry in India has come for th as one of


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the most dynamic and fast paced industries with several players entering the

market.

Retail ing in India is gradually inching i ts way toward becoming the

next boom industry. The whole concept of shopping has al tered in terms of

format and consumer buying behavior, ushering in a revolution in shopping

in India. Modern retai l has entered India as seen in sprawling shopping

c en te rs , m ul ti- st or ie d m all s a nd h ug e c om pl ex es o ffe r s ho pp in g,

entertainment and food al l under one roof. The Indian retai l ing sector is at

an inflexion point where the growth of organized retailing and growth in the

consumpt ion by the Indian popula tion i s going to t ake a h igher growth

trajectory. The Indian population is witnessing a significant change in i ts

demographics.

Retai l and real es tate are the two booming sectors of India in the

present t imes. And if industry experts are to be believed, the prospects of

both the sector s a re mutual ly dependent on each o ther. Reta il , one of

Indias largest industries, has presently emerged as one of the most dynamic

and fas t paced indust r ies of our t imes wi th several players enter ing the

market . Accounting for over 10 per cent of the countrys GDP and around

eight per cent of the employment retai l ing in India is gradually inching i ts

way toward becoming the next boom industry.

As the contemporary retai l sector in India is reflected in sprawling

shopping centers , mult iplex- malls and huge complexes offer shopping,

enter tainment and food al l under one roof , the concept of shopping has

al tered in terms of format and consumer buying behavior , usher ing in a

revolut ion in shopping in India. This has also contr ibuted to large-scaleinvestments in the real estate sector with major national and global players

investing in developing the infrastructure and construction of the retai l ing

business. The trends that are driving the growth of the retail sector in India

are


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Low share of organized retailing

Falling real estate prices

Increase in disposable income and customer aspiration

Increase in expenditure for luxury items

Another credible factor in the prospects of the retai l sector in India is

the increase in the young working popula tion . In India, hefty pay

packets, nuclear families in urban areas, along with increasing working-

women populat ion and emerging oppor tuni t ies in the services sector .

These key factors have been the growth drivers of the organized retai l

sector in India which now boast of retai l ing almost al l the preferences

of life - Apparel & Accessories, Appliances, Electronics, Cosmetics and

Toi le tr ies , Home & Off ice Product s, Travel and Leisure and many

more. With this the retai l sector in India is witnessing rejuvenation as

t radi t ional markets make way for new formats such as depar tmentalstores, hypermarkets, supermarkets and specialty stores.

The re ta il s ector i s changing as new s tore ca tegor ies have s tar ted

dominating the marketp lace. Mass merchandisers (Wal-Mar t, Big

Bazaar) , discount clubs (V-Mart) , so-cal led category ki llers (Home


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Depot, Vishal chain), and specialty retailers (Time Zone, Tanishq) have

al l developed a successful retai l models . At the same t ime, the smal l

mom-and-pop stores and the tradit ional department stores, are f inding

the competi tion intense . Smal l independent s tores , across product

categories, is a very common retai l formats they are also undertaking

large scale r enovations to appeal and a tt rac t the ir t arget consumer

segments.

Key Points of Indian Organised Retail Industry

1. Potential to be the third largest economy in terms of GDP in next

few years

2. It ranks high amongst the top 10 FDI destinations of the world .

3. Fastest growing tourist market in Asia.

4. World bank states, India to be worlds second largest economy after

China by the year 2050.

5. Stable and investor friendly Central Government at the helm of

affairs.

6. Introduction of Value Added Tax or VAT and tax reforms.

7. High degree of professionalism and corporate ethics.

8. Excellent Investment opportunities in Indian retail sector and in

allied

sectors; sure and high returns on investments.

9. To invest US $130 billion for the development of infrastructure, by

year 2010.

10. Hordes of foreign investors are thronging in to invest in

Indian retail

markets.

11. Highly educated English speaking young workforce.

12. Vibrant and multi cultured cities.

13. Huge opportunity exists, especially in semi-rural and rural

areas.


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14. Till date the second largest employer after agriculture sector,

for the

huge semi-skilled Indian population.

15. Offers highest shop density in the whole world.

16. Having almost 1,20,000 shops, across the length and breadth

of the country.

Companys Profile: V-MART

History

V mart retail ltd. was established in the year 2002. The company made itsforay into retail sector in October 2003 by openingits maiden showroom in Ahmedabad.

Today V Mart has 53 stores across 42 cities and isexpanding at a rapid pace with a turnover of morethan 150 crores last year.

V Mart, a leading chain of complete familylifestyle stores spread across India. In the rapidlygrowing retail industry, V Mart has successfullycreated a niche for itself.

V Mart is one of Indias fastest growing value-retai ler promoted by Mr.Lali t Agarwal , a f ir st genera t ion entrepreneur . I t operates a chain of medium sized hypermarket format retail stores (10000-12000 sq. Ft.) Witha focus on tier II and tier III cities.

V-Mar t Ret ai l Pvt ., L td . ope ra te s a cha in o f r et ai l s to res and s el lsgroceries, apparel , footwear, and menswear to middle and lower-middlesegments. Less Price Fashion is the main motto through which V Mart believe in providing the latest t rends to the upwardly mobile Indians atthe best possible price.

V mart provides a comple te r ange of products r anging f rom Clothes,Accessories & Footwear for men, women and kids bes ides Cosmetics,Luggage and Toys & Games. I t also provides a wide range of food, non-food and staple items in our Kirana Bazaar section.


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In an extremely fashionable and price conscious market, V Mart has been

successful in maintaining the equil ibrium between the quali ty and price.

Through i t s chain of s tores , the company always s t r ives to offer to the

I nd ian mas ses excel lent ambience and t remendous conveni ence f or

shopping.

During a downturn, cost reduction is paramount, and often promoters have

nary a c lue on how to go about the t ask in an ef fec t ive manner . Lal i t

Agarwal, Chairman of V-Mart and also brother of Ram Chandra Agarwal,

Chairman of Vishal Retail- had big plans to take his discount retai l chain

from 23 to 75 stores across India. He had a reason to dream big as he was

f lush with funds rece ives f rom Aditya Bir la Priva te Equi ty (ABVE)

around Rs. 60-70 crore.

Just Before Lali t Agarwal could go ahead

w ith t he b lu ep ri nt fo r t he n ati on wi delaunch, he had one more task to complete:

To revisit the drawing board, this time with

Bharat Banka, Managing Director & CEO ,

ABVE in tow . Banka suggested a clustered

approach o f i nc reas ing s to re p resence

within exist ing states instead of spreading

wings across al l regions and states. That proved to be a crucial tweak in

the launch game plan. Our over-aggressiveness was curtai led. We started

penetrat ing into ci ties wi thin exist ing s tates rather than spreading out

everywhere, admits Agarwal. Today, his company has managed to more

than double the number of s tores to 53 but just across 10 states as against

a presence in eight states pre expansion.

Turnover was up 50 percent last f iscal over a year ago capital expenditure

was tr immed by 40 percent and saving on advert isements and manpower

cost s were u ti li sed on researching regional t as tes in the s ta tes where

VMart has a p resence. I t a ls o s hi ft ed t hr ee unpro fi tabl e s to res and

negotiated lease rents at s tores where sales were sluggish. While Agarwal

is hes i tant to share actual numbers , the cos t of operat ions due to these

consolidated efforts has come down by 20 percent s ince the beginning of

this year. V Mart was an early follower of the clustered approach, and i t

is reap ing the benefits now .

Mission


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To Be A Leading Company In Value For Money Segment Of Retail. To

Cross A Turnover Of 1000 Crores.

Vision

Qual i ty products at reasonable pr ices in an excel lent ambience to every

strata of the Indian society. To provide best value for money and latest

fashion to the Indian consumer. Our slogan is SABSE SASTA, SABSE

ACHCHA

Values

We will be four & honest.

We respect our customers & their hard earned money

We are socially responsible.

We will have an environment for Innovation & Development

We will have an atmosphere of Training / Guidance

We will take only that which is ours.

We will pass whatever extra benefits we get to our valued customers

It will always be CUSTOMER FIRST for us

The philosophy behind Sabse Sasta, Sabse Achcha or Best Products

at Lowest Prices i s t o f ul ly r es pect t he har d ear ned money o f our

customer. The slogan signifies value for money,

because the company caters to the middle and lower-middle

segment of the socie ty . V Mart provides the comfor t of

shopping a t a b ig r eta il s tore a t a ffordable pri ces. We


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s tr ive to g ive you top qual ity products a t the best poss ib le pr ice. To

a ch ie ve th is , o ur m er ch an dis er s p ro cu re p ro du ct s fr om th e m os t

competi t ive sources globally. Our in-house designers & Quali ty Control

depar tment ensure that bes t qual i ty products come out of our in-house

manufacturing units.

V-Mart Ajmer

Profile


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V mart Ajmer was es tabl ished in the year 2004 near Ajmer Museum,

Naya Bazar. I t is one km from Ajmer Railway Station; this format is f irst

of i ts kind in Ajmer and i t has a big and at tractive building According to

V-Mart Retai l Vice-Pres ident Abhishek Jetia company also s tar ts his

outlets in Delhi , Punjab, Mumbai, Bhopal, Rajkot, Vadodara, Kohlapur

wi th Ajmer outl et . The a im of thi s outl e t i s primari ly ca ters to the

burgeoning middle and lower mid-segment consumer group, which forms

an integral par t of Indias growing purchas ing power . I t has been our

constant endeavor to reach out to masses and offer world-class shopping

experience at affordable prices.

Segmentation

V Marts products cater to the needs of al l the segments of the society .

The product portfolio is given below.

Casual wear for the younger segment.

Formal wear to cater to the executives and working professionals

Womens apparel r anging f rom t radit ional Indian wear l ike to

contemporary wear and other accessories.

Kids section catering to baby and kids market with clothes, school

bags, meal boxe s, bottles etc.

Home Mart that provides the dai ly household needs l ike crockeryand other general items.

Grocery under the section Kirana Bazaar at most of i ts outlets with

the aim of providing all daily household needs under one roof.

With providing contemporary fashion at a reasonable pr ice, V MART,

Ajmer has been successful in creating an identi ty for i tself amongst the

target segment of the society. For the convenience of customers as well as

to ident i fy the s tores s tock requirements and sales pat tern, V MART,

Ajmer has internally created 4 divis ions /formats that are ment ioned

below.

V Mart Aspire


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Kids (Girls)Upper - Tops, T-Shirts

Lower - Bermudas, Capris, Half Pants, Jeans, Skirts, Trousers

Ethnic - Ethnic Suits, Lachas, Salwar Suits

Accessories - Bags, Caps, Hair Bands, Purse, Socks, Wrist Watches

U-Garments - Inners, Pant

Kids (Boys)Upper - Shirt, T-Shirts

Lower - Half Pants, Jamaicans Jeans, Trousers

U- Garment - Vests, Briefs

Ethnic - Kurta Pyjamas, Sherwanis, Suits

Accessories - Belts, Caps, Goggles, Socks, Wrist Watches

Infant Accessories and Garments

Upper - Shirt, T-Shirts

Lower - Half Pants, Jamaicans Jeans, Trousers

U- Garment - Vests, Briefs

Ethnic - Kurta Pyjamas, Sherwanis, Suits


Upper - Tops, Casual Shirts, Formal Shirts, Kurtas

Lower - Trousers, Jeans, Shorts, Skirts, Capris

Ethnic - Dress Fabrics, Lachas, Salwar Suits, Sarees

Accessories - Bags, Belts, Sunglasses, Socks, Wallets

U-Garments - Slips, Bras, Panties, Swim Wears

W-Wear - Blazers, Cardigans, Coats, Jackets, W-Tops


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Accessories

Bags & Luggage - College Bags, Executive Bags, File Bags, Laptop Bags, School Bags,

Strolly Bags, Travel Bags

Fashion Jewellary - Anklets, Bangles, Earrings, Cluctchers

Office Stationery - Cd Holders, Mouse Pads, Staplers, Folders

School Stationery - Pens, Crayons, Pencil Boxes, Sketch Pens, Stationery Sets


Home mart

Crockery - Coffee Mugs, Cup & Saucers,Glass Sets, Dinner Sets, Soup Sets

Electrical Appliances - Irons, Microwaves, Sandwich Makers, Vacuum Cleaners

Home Furnishing - Mats, Pillow Covers, Curtains, Bed Sheets

Footwear Mart

Ladies - Chappals, Slippers, Sandle, SneakersMens - Chappals, Floaters, Nagras, Sandles, Shoes, Slippers, Sneakers

Girls - Chappals, Slippers, Sandles, Shoes, Sneakers

Boys - Chappals, Floaters, Nagras, Sandles, Shoes, Slippers, Sneakers

Infant - Chappals, Sandles, Shoes

Our culture

At V Mart,Ajmer, Empowerment is what you acquire and Freedom at Work

i s what you get . We bel i eve our mos t va luable as se t s a re our People .

Young in spir i t , adventurous in action, with an average age of 27 years,


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our ski ll ed & qual if ied professionals work in an envi ronment where

change is the only constant.

Powered by the desire to create path-breaking practices and held together

by va lues, work in thi s people intens ive indust ry i s driven by sof ter

issues. In our world, making a difference to Customers l ives is a Passion

and performance is the key that makes it possible. Out of the Box thinking

has become a way of life at V Mart and living with the change, a habit.

L ea de rs hi p i s a v al ue th at i s f ol lo we d b y o ne a nd a ll a t V M ar t.

Leaders hi p i s t he qua li ty t ha t mot ivat es us t o never s top l ea rn ing,

stretching to reach the next challenge, knowing that we will be rewarded

along the way. In the ques t of creat ing an Indian model of retail ing, V

Mart has taken init iat ives to launch many retail formats that have come

headed for serve as a benchmark in the industry. Believing in leadership

has given us the opt imism to change and be successful at i t . We do not

predict the future , but create it .

At V Mart you will get an opportunity to handle mult iple responsibil i t ies ,

and therein, the grooming to play a larger role in the future. Work is a

uni que mix o f p rese rv ing our cor e I nd ian val ues and y et p rovi di ng

customers with a service, on par with international standards.

At V Mart you will work with some of the brightest people from different

spheres of indust ry . We beli eve i t s a p lace where you can l ive your

dreams and pursue a career that reflects your skills and passions.

OFFERS


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V MART provides many offers to the customers this also a strategy to promote sale and

proves companys logo SABSE SASTA SABSE ACHCHA

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S

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Management Style

The organizat ion s t ructure for V Mart i s f lat in nature. For V Mart , the

divisions are apparel , non apparel and the new business division, which

includes garments , footwear and the shopping-shops . For Food Mart , aseparate teem has been created which again works independently.

About 1,800 people work for di rectly . Suppor t and ancil lary services

comprise another 400 people. A new trainee is put through a basic three

day training program before going on the shop floor. Evaluation is done

every six months.


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The Strategy

Saving is a key to the Indian middle class consumer . The s tore, which

would be created, had to offer value to the consumer . Keeping this in

mind, the concept of V Mart was created.

In India , when a customer needs some thing for the home, a typica l

thought is to seek it from the bazaar. A bazaar is a place where a complete

range of products is always available to the consumer. This is t rue across

India. As the s tore would offer a large mix of products at a discounted

p ri ce , t he name V Mar t was f inal ized . The i dea was t o r e- cr ea te a

complete bazaar, with a large product offering (at t imes modified to suit

local needs) and to offer a good depth and width in terms of range. The

mind to market for the first store was just six months.

Pr ice was the basic va lue propos it ion a t V Mar t. The V Mart , Ajmer

s t r a tegy was to se l l var i e ty of product s a t pr i ces , which were 5 to 60

per cent l ower t han t he mar ke t p ri ce . The l ine Sabse Sasta Sabse

Achcha emphasized this

Marketing Strategies of a Retail Chain Organisation The 3Ps of V

Mart, Ajmer

RETAIL MIX.

The retai l mix i s the combination of f actor s r etai l used to sat is fi ed

customer needs and inf luences thei r purchase decis ion. I t s include the

t yp e o f m er ch an di se a nd s er vi ce s o ff ere d, m er ch an dis e p ri ci ng ,

adver t is ing, promot ional programs s tore design merchandise display,

ass is tance to cus tomer provided by salespeople, and convenience of the

stores location.


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Retail mix is the term used to describe the various elements and methods

required to formulate and execute retail marketing strategy.

Retail managers must determine the optimum mix of retailing

activities and coordinate the elements of the mix.

The aim of such coordination is for each store to have a distinct

retail image in consumers mind.

The mix may vary greatly according to the type of the retailer is in,

and the type of product/services.

While many e lements may make up a f irms r e ta il mix , the es senti alelements may include:

Store location,

merchandise assortments

Store ambience,

customer service,

price,

Communication with customer

Personal selling

Store image

Store design

Sales incentives

People

Process

Physical evidence

Composition of retail mix

Place

Product


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Price

Promotion

People

Process

Physical Evidence

For study of our project report we have laid emphasis on the 3 important

Ps which are termed as Extended Marketing Mix :

Physical Evidence

Process

People

Physical Evidence


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Where is the service being delivered? Physical Evidence is the element of

the service mix which al lows the consumer again to make judgments on

the organisation. If you walk into a restaurant your expectat ions are of a

clean, f r iendly environment . On an ai rcraf t i f you t ravel f i r s t class you

expect enough room to be able to lie down!

Physical evidence is an essential ingredient of the service mix; consumers

will make perceptions based on their s ight of the service provision which

will have an impact on the organisations perceptual plan of the service.

Physical evidence is the material part of a service. Strictly speaking there

are no physical at t r ibutes to a service, so a consumer tends to rely on

material cues. There are many examples of physical evidence, including

some of the following:

Packing

Internet web pages

Paperwork (such as invoices, tickets and dispatch notes)

Brochures

Furnishing

Signage (such as those on aircraft and vehicles)

Uniforms

Business cards

The building itself (such as prestigious offices or scenic headquarter)

Mailboxes and many other.

Organiza tions depend heavily upon phys ica l ev idence as a means of

marketing communications, for example A sporting event is packed full of

physical evidence. Your t ickets have your team's logos printed on them,

and players are wearing uniforms. The stadium itself could be impressive

and have an e lec tr ifying a tmosphere. You t ravel led there and parked

quickly nearby, and your seats are comfortable and close to restrooms and

store. All you need now is for your team to win!

Process


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Refers to the systems used to assist the organisation in delivering the

service. Imagine you walk into Burger King and you order a Whopper

Meal and you get it delivered within 2 minutes. What was the process that

allowed you to obtain an efficient service delivery? Banks that send out

Credit Cards automatically when their customers old one has expired

again require an efficient process to identify expiry dates and renewal. An

efficient service that replaces old credit cards will foster consumer loyalty

and confidence in the company.

Process is another element of the extended marketing mix, or 3P's.There

are a number of perceptions of the concept of process within the business

and marketing literature. Some see processes as a means to achieve anoutcome, for example - to achieve a 30% market share a company

implements a marketing planning process. Another view is that marketing

has a number of processes that integrate together to create an overall

marketing process, for example - telemarketing and Internet marketing can

be integrated. A further view is that marketing processes are used to

control the marketing mix, i .e. processes that measure the achievement

marketing objectives. All views are understandable, but not particularly

customer focused.

For the purposes of the marketing mix, process is an element of service

that sees the customer experiencing an organisation's offering. It 's best

viewed as something that your customer participates in at different points

in time. Here are some examples to help your build a picture of marketing

process, from the customer's point of v iew.

Going on a cruise - from the moment that you arrive at the dockside, you

are greeted; your baggage is taken to your room. You have two weeks of

services from restaurants and evening entertainment, to casinos and

shopping. Finally, you arrive at your destination, and your baggage is

delivered to you. This is a highly focused marketing process.


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People

An essential ingredient to any service provision is the use of appropriate

staff and people. Recruiting the right staff and training them appropriately

in the del ivery of thei r service is essent ial i f the organisat ion wants to

obtain a form of competi t ive advantage. Consumers make judgments and

del iver percept ions of the service based on the employees they interact

with. Staff should have the appropriate interpersonal skills, aptititude, and

service knowledge to provide the service that consumers are paying for .

Many organisations aim to apply for the Investors In People accreditation,

which tel l s consumers that s taf f are taken care off by the company and

they are trained to certain standards.

People are the most important e lement of any serv ice or experience.

Services t end to be produced and consumed a t the same moment , andaspects of the cus tomer exper ience are al tered to meet the ' individual

needs ' of the person consuming i t . Most of us can think of a s i tuat ion

where the personal service offered by individuals has made or tainted a

tour, vacation or restaurant meal. Remember, people buy from people that

they like, so the attitude, skills and appearance of all staff need to be first

class. Here are some ways in which people add value to an experience, as

part of the market ing mix - t ra in ing , personal se ll ing and cus tomer

service.

The f inal P of the marketing mix is people. Develop the habit of thinkingi n t er ms o f t he peopl e i ns ide and out si de o f y our bus ines s who a re

responsible for every element of your sales and market ing s t rategy and

activities.

I t' s amazing how many entrepreneurs and bus inesspeople wil l work

extremely hard to think through every element of the marketing strategy

and the marketing mix, and then pay l i t t le at tention to the fact that every

single decision and policy has to be carried out by a specif ic person, in a

speci f ic way. Your abi l i ty to select , recrui t , hi re and retain the proper

people, with the skills and abilities to do the job you ne ed to have done , is

more important than everything else put together.

In his best-sel l ing book, Good to Great , J im Coll ins discovered the most

important factor applied by the best companies was that they f irst of al l

"got the r ight people on the bus, and the wrong people off the bus." Once

these companies had hi red the r ight people, the second s tep was to "get

the right people in the right seats on the bus."
http://www.amazon.com/exec/obidos/tg/detail/-/0066620996/entrepreneurcom/http://www.amazon.com/exec/obidos/tg/detail/-/0066620996/entrepreneurcom/http://www.amazon.com/exec/obidos/tg/detail/-/0066620996/entrepreneurcom/


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To be successful in bus iness , you must develop the habi t of thinking in

terms of exactly who is going to carry out each task and responsibil ity. In

many cases, it 's not possible to move forward until you can attract and put

the r ight person into the r ight posit ion. Many of the best business plans

ever developed s it on shelves today because the [people who crea ted

them] could not find the key people who could execute those plans.

Training

All cus tomer f ac ing per sonnel need t o be t ra ined and devel oped t o

maintain a high quali ty of personal service. Training should begin as soon

as the individual s tarts working for an organization during an induction.

The induction will involve the person in the organization's culture for the

f ir st t ime, as well as bri ef ing h im or her on day- to-day poli cies and

procedures. At this very early stage the training needs of the individual

are ident i fied. A t raining and development plan is const ructed for theindividual which sets out personal goals that can be l inked into future

appraisals . In practice most training is ei ther 'on-the-job' or 'off- the-job. '

On- the- job t raining involves t raining whi ls t the job is being performed

e.g. training of bar staff. Off-the-job training sees learning taking place at

a col lege, t raining centre or conference faci l i ty . At tent ion needs to be

paid to Continuing Professional Development (CPD) where employees see

t he ir p ro fe ss io na l le ar nin g a s a l if el on g p ro ce ss o f tr ain in g a nd

development.

Personal Selling

There are di f ferent kinds of salesperson. There is the product del ivery

salesperson. His or her main task is to deliver the product, and sell ing is

of less impor tance e.g. fas t food, or mai l . The second type is the order

taker, and these may be ei ther ' internal ' or 'external . ' The internal sales

person would take an order by telephone, e-mai l or over a counter . The

external sales person would be working in the f ield. In both cases l i t tle

sell ing is done. The next sort of sales person is the missionary . Here, as

wit h t hose mis si onar ie s t ha t p romote f ai th , t he s al es pe rs on bui lds

goodwill with customers with the longer-term aim of generating orders.Again, actual ly clos ing the sale i s not of great impor tance at this ear ly

s tage. The for th type is the technical salesperson , e .g. a technical sales

eng inee r. The ir i n- dept h knowl edge s upport s t hem as t hey adv is e

customers on the best purchase for their needs. Finally, there are creative

sellers. Creat ive sel lers work to persuade buyers to give them an order .

This is tough selling, and tends to offer the biggest incentives. The skill is


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identifying the needs of a customer and persuading them that they need to

satisfy their previously unidentified need by giving an order.

Customer Service

Many products , serv ices and experiences are suppor ted by customer s er vi ces t eams . Cus tomer s er vi ces p rovi ded exper ti se ( e.g. on t he

selection of f inancial services) , technical support(e.g. offering advice on

IT and software) and coordinate the customer interface (e.g. controll ing

service engineers , or communicat ing wi th a salesman) . The disposit ion

and at t i tude of such people is vi tal ly important to a companyThe way in

which a complaint is handled can mean the difference between retaining

or los ing a cus tomer , or improving or ruining a company 's reputat ion.

Today, customer service can be face-to-face, over the telephone or using

t he I nt er ne t. Peopl e t end t o buy f rom peopl e t ha t t hey l ike, and s o

effect ive cus tomer service is vi tal Customer services can add value by

offering customers technical support and expertise and advice.

OBJECTIVE

To understand the different marketing strategies being followed by V Mart,

Ajmer.

To learn their marketing mix.

Market ing help to def ine the bus iness for the cus tomer 's interes ts , not

your own. I t is the process of learning what customers want or need and

determining how to satisfy those wants or needs. It is also used to confirm

whether the cus tomer reacted to a market ing program as expected. The

benefits of market research include:


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Learning who your customers are and what they want.

Learning how to r each your customers and how f requently you

should try to communicate with them.

Learning which adver t is ing appeals are most ef fect ive and which

ones get no response.

Learning the relat ive success of different marketing strategies, thus

improving return on investment.

Learning how not to repeat your mistakes.

V Mart has been the pioneer of retail revolution. Its first fight was against

local Kirana stores. The task was to change the mindset of consumer to br ing about changes in thei r shopping pat terns . I t wanted people to do

bulk shopping for their monthly ration instead of going to the shop each

week.

For the betterment of this Project I also set some objectives in front

of me, this proved very helpful in this Project . I have performed work

according these objectives. The objectives, which we have selected, are as

below.

1 . To ide ntify an d u nd erstan d t he sig nifica nc e o f retailin g in the

current business environment

2 . To devel op gui de li nes t o bui ld a r et ai li ng busi ness

3 . To identi fy the paradigm shif ts in re ta il ing business with increasing

scope of technology / e-business and develop strategies accordingly

4 . To unders tand the bene fi ts to cus tomers fr om Ret ai l s ec to r.

5. To know about V-Mart .

6 . To know about it s s tr engths , weaknesses, oppor tunit ies & threa ts .


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7. To earn practical knowledge.

8 . To anal yze pr ob lems which I am f ac ing whil e wor ki ng on f ie ld .

9 . Last b ut n ot least to kn ow ab out mark etin g s trateg ies- ph ysic al

evidence, process and people.

Research Methodology

Research Plan obta in p ioneer p lace whi le working on any

project. So we go through the research plan.

The research plan is as follows:-

While working on our Projec t r eport , the par ti cipa t ion of

manager, sales manager, marketing manager, auditor , employees, etc. &

our professors enlighten the use of theoretical concepts in actual business

world. Their views & suggest ions proved very useful in the successful

completion of our Management Project.


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We developed the research plan into various components:-

A] Data sources

B] Research instruments

C] Sampling methods

A] Data Sources

1) Primary data:-

Primary data i s col lected f rom the local i ty of the coverage

area . We have t aken in to cons idera tion the v iews of manager , sales

manager, marketing manager, auditor , employees, etc. & our professors

about the relevant subject & also pay at tention towards their suggestions.

Their suggestions are incorporated in the report . This data prepared the

basis for the Projec t Report.

Be sid e of all th is, so me da ta is also co lle cte d by w e

ourselves.

2) Secondary data:-


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Same as above some data is collected from the media also.

i) Newspapers

ii) Magazines

iii) Books on Management

iv) Text books

v) Internet

B] Research Instruments

To collect the primary data for the Project Report , we have selected some

questions in concern with the organization i.e. V-Mart in Ajmer . We used

these questions as a research instruments for knowing the facts.

These questions are as follows:-

1) Questions related to their marketing management.

2) Questions related to their advert ise expenditure.

3) Questions related to their interpersonal relations with Customers

4) Questions related to their organizational s tructure.

5) Questions related to training & development of employers


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6) Quest ions related to mot ivat ion.

7) Questions related to role of personal manager in the

organization.

C] Sampling Plan

A sampling plan is most important to do Project Report successfully.

The points considered in the sampling plan are as following:-

I) Sampling Unit:-

The s ta ff o f t he o rgan izat ion i nc ludi ng t he manager s o f

different departments and the employees was targeted for the Management

Project.

II) Sampling Quantity:-


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The sampling quanti ty was 24 & all are related with V-Mart .

Apart from this we also considered some customers of V-Mart in Ajmer.

iii) Coverage:-

The coverage of the survey was whole organizat ion i .e . V-

Mart, Ajmer.

ANALYSIS AND INTERPRETATION

Q1. In a month how many times you visit V Mart, Ajmer?

a) Once 7b) Twice 23c) Thrice 8d) More than thrice 25e) As per requirement 37

INTERPRETATION:

Out of 100 respondent, 37% people visit the store when they have some requirement and25% are visited more than thrice, 23% visited two times in month and 7% & 8% peoplevisited one and three times in a month respectively. Most of them regularly visit V Mart,Ajmer.

Maximum number of people visited store frequently.


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Q2. Your shopping experience in V Mart, Ajmer is always!

a) Outstanding 1b) Excellent 21

c) Good 43d) Average 32e) Bad 3

INTERPRETATION:

Out of 100 respondent, 43% people has good shopping experience in V Mart, Ajmer,32%has average and 21% people has excellent. But 1% has outstanding shopping experienceand 3% has bad shopping experience.

Maximum numbers of people has a better experience of shopping in V Mart,Ajmer .

Q3. Brands and products availability in V Mart, Ajmer is!

a) Outstanding 3b) Excellent 28c) Good 44d) Average 22e) Bad 3

INTERPRETATION:

Out of 100 respondents, over all 31% customer are satisfied by the availability of brandand products in V Mart, Ajmer, 66% customer product availability is average rest said itis bad. Some people think there is no good brands and products availability in V Mart,Ajmer . Especially in apparels.

Q4. Ambience & atmosphere inside the store is!



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INTERPRETATION:

Out of 100 respondents, Ambience & atmosphere inside the store is good feel by 41%customers, 27% feel it is excellent and only 3% feel outstanding. But 27% customers are

not satisfied by the ambience & atmosphere inside the store of V Mart, Ajmer.

Due to much noisy and unpleasant environment some of the customer irritates.Atmosphere is really good.

Q5. Discounts and offers served in V Mart, Ajmer is!

a) Outstanding 7b) Excellent 32c) Good 36

d) Average 23e) Bad 2

INTERPRETATION:

Out of 100 respondents, Discounts and offers served in V Mart, Ajmer is good said by36% customers, 32% feel it is excellent and only 7% feel outstanding. But 25%customers are not satisfied by Discounts and offers served in the V Mart, Ajmer.

Maximum Customers are satisfied by Discounts and offers served in the.

Q6. Location 0f V Mart, Ajmer in your city is!

a) Outstanding 29b) Excellent 32c) Good 22d) Average 13

e) Bad 4

INTERPRETATION:

Out of 100 respondents, 61% is highly satisfied with location of V Mart, Ajmer in city,22% is satisfied and only 17% is not satisfied.


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Location ofV Mart, Ajmeris outstanding. It is situated central business district(CBD).

Q7. In offer days the shopping experience in the store is!


INTERPRETATION:

Out of 100 respondent, 39% people has good shopping experience in V Mart, Ajmer,25% has average and 29% people has excellent. But 3% has outstanding shoppingexperience and 4% has bad shopping experience.

Maximum numbers of people has a better experience of shopping in offer days.Some customer do not enter in store due to heavy rush.

Q8. How do you feel about sales persons and promoters?



INTERPRETATION:

74% of the respondents are satisfied by the sales persons and promoters in the store rest26% respondents are not satisfied by the sales persons and promoters in the store.

Sales persons and promoters behave well with customer.

Q9.The parking facility in V Mart, Ajmer is!

a) outstanding 0b) Excellent 05c) Good 09d) Average 12


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e) Bad 74

INTERPRETATION:

74% of the respondents are not satisfied by the parking facility in V Mart, Ajmer, rest

26% respondents are satisfied by the parking facility in V Mart, Ajmer.

Maximum customer are not satisfied with the parking facility in V Mart, Ajmer.

Q10. The quality of the product served by V Mart, Ajmer is!



INTERPRETATION:

21% of the respondents are highly satisfied with the quality of the products at V Mart,Ajmer, rest 74% are said the quality of the products in V Mart, Ajmer is averaged, only

5% said its not good.

Maximum number of people is not satisfied with quality of the product.

Q11. The cleanliness and hygiene maintained in the store is!


INTERPRETATION:

According to maximum number of respondent i.e. 82% feels that cleanliness and hygienemaintained in the store is up to the mark rest 18% feel it is not up to the mark.

Cleanliness and hygiene maintained in the store is up to the mark.


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Q12. Are you satisfied with the billing facility at the store?

a) YES 72b) NO 28

INTERPRETATION:

72% of the respondents are satisfied by the billing facility in the store, rest 28 % are notsatisfied. Some customer are not satisfied by billing facility (Especially in offer day andrush hours ).

Q13. Is it easy to move with the trolley in the store?

a) YES 74b) NO 26

INTERPRETATION:

According to 74% of the respondents it is easy to move in the store with trolley only 26%said it is not.

The space management in the store is up to mark.

Q14. Do you feel that shopping in V Mart, Ajmer has made you a more

knowledgeable conscious and aware customer?

a) YES 63b) NO 37

INTERPRETATION:

According to 63% of the respondents they feel that shopping in V Mart, Ajmer has mademore knowledgeable conscious and aware customer, and 37% they are alreadyknowledgeable conscious and aware customer.

V Mart, Ajmerhas made customer a more knowledgeable conscious and aware

customer

Q15.Do you feel that V Mart, Ajmer provide you value for money?

a) YES 85b) NO 15


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INTERPRETATION:

Out of 100 respondent, 85% of the respondents feel that V Mart, Ajmer provide youvalue for money, 15% feel not.

FINDINGS

Store performing well in attracting the customers.

V Mart, Ajmer provides better shopping experience.

Brands and products availability in V Mart, Ajmer is not up to the mark. Especially inapparels.

Noisy and unpleasant environment is irritates customer. Air conditioning is reallygood.

Discounts and offers doing well in the store.

In offer days the store management is good.

Home delivery services are not used by customer.

Quality in products is not up to the mark.

Location of V Mart, Ajmer is outstanding. It is situated near Ajmer Museum

Parking facility in V Mart, Ajmer is not good.


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Cleanliness and hygiene maintained in the store is up to the mark

RECOMMENDATIONS

Create awareness & manage home delivery services properly.

There should be proper assortment of various product categories.

Proper signage should be there so that customer can locate the products

easily.

Cleanliness and hygiene should be maintained regularly.

Proper training should be provided to sales person so that they can deal

with the customer efficiently.

Various schemes and offers can be provided to them and attract new

customers (Use pull strategy). No. of cash counter needs to be increased keeping in view customer

traffic intensity.

Quality in products should be increased up to mark


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LIMITATIONS

Collection of data related to marketing strategy of V-Mart, Ajmer is

a difficult task because this information is very rarely available with

secondary resources therefore it requires more time and lot of efforts. The

main limitations as experienced are as under :

1. Time limit is the major constraint.

2. Some respondents refuse to co-operate.

3. Some respondents replied half heartedly.

4. Some respondents gave incomplete information.

5. The survey was conducted in very general way as no other variable such as their

education level, occupation and sex.


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Complaints: -

The following complaints have come to our notice :

1. Low var iety of product avai lable and cus tomizat ion of products i s

not there.

2. Air condi tioners are not proper ly working

3. Prices are not mentioned at all places and at al l products.

4 . Prices are not competi tive as they are assumed to be h igher when

consumers are visiting other retail outlets.

5. Grocery i tems are not suff icient and they are not at al l avai lable at

many stores.

6. Clothing i tems of women are pr iced unreasonably7 . Lack o f s pace i n t he s t or e wh il e s hoppi ng and moving wi th in a

store.

Conclusion

In spite of several good steps taken by V Mart, Ajmer it has not is able to

get the desired results. After due consideration I have come to the

conclusion that V Mart, Ajmer should take the following suggested steps

at the earliest in case it is aimed to get the best results:

Suggestions:-

1. Inc lude more t r a ined sa les person to he lp customers in the s tore

while shopping.

2. Improve quali ty of the products especially clothes.

3 . Play good songs or sooth ing mus ic in the s tore r ather than cheap

filmy songs.

4. Customer care service can be introduced


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5. More branded products can be displayed in the s tore as people s t il l

prefer branded clothes than offered by local venders.

6. Constant reminder of discounts through pamphlets, speakers inside

the store for inducing consumers for impulse buying.

7 . Ad d mo re cosme tic p rod uc ts a s its h av in g a h ug e mark et of

consumers attached to it .

8 . Display of product should be improved so that the product i s eas i ly

visible to the consumers.

9. Proper advert isement in press and outdoor to make V Mart should

be visible in the e yes of consumers.

1 0. S ho uld h av e p ark in g spa ce s in fro nt of e ve ry sto re.

1 1. H ire m ore s alesg irls a s in la die s se ctio n its v ery d iffic ult f or

both the consumers and salesman to interact with each other.

12. Regular training to sales person to improve there overall

performance.

BIBLIOGRAPHY

BOOK REFERRED

Research methodology (C.R. Kothari) Retailing Management (Levy & Weitz)

Magazines, Newspaper, pamphlets

Business Times, Economic Times and Local Newspapers of Ajmer

Marketing textbook

Retail Management textbook


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Websites

www.google.com

www.vmart.co.in

www.business.com

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