A PROJECT REPORT ONMarket analysis of awareness level of stem cell banking in expectant parents in PuneReport submitted to Cryobanks International India Pvt Ltd

In partial fulfillment of the requirement for the Degree of

POST GRADUATION IN DIPLOMA MANAGEMENT

IN MARKETING

Submitted By:Submitted To: Hariom Mr. Sachin Saxena BIIB Pune Regional Sales Manager

Cryobanks International India Pvt LtdPune

BALAJI INSTITUTE OF INTERNATIONAL BUSINESS (BIIB)

SRI BALAJI SOCIETYPUNE(2014-16)DECLARATION

I Hariom, IB1412237 hereby declare that this project report is the record of authentic work carried out by me during the period from 5th May 2015 to 4th June 2015 and has not been submitted to any other University or Institute for the award of any degree / diploma etc.

HariomDate :

TABLE OF CONTENTSSr. No.ParticularsPg. No.

1Acknowledgment4

2Certificate5

3Executive Summary6

4Introduction7

4.1Consumer Buying Behavior7

4.2Footwear11

5Company Profile12

6Consumer Buying Behavior Footwear19

6.1Research Proposal20

6.2Questionnaire22

6.3Analysis & Interpretation30

6.4Conclusion45

6.5Recommendations47

7Bibliography48

ACKNOWLEDGMENT

Feeling gratitude and not expressing it is like wrapping a present and not giving it.

It gives me immense pleasure for an opportunity to have undergone my summer internship in CRYOBANKS INTERNATNAL INDIA PVT LTD, there is an always sense of gratitude which one express to other people for their helpful and needy service they render during phases of life. I too would like to do the same as I really wish to express my gratitude to those who have been helpful to me in getting this project completed.

In representing this report I would like to express my gratitude to Mr. Sachin Saxena Regional Sales Manager, Cryobanks Internatnal India, for giving me this opportunity to work with Cryobanks Internatnal India, and providing me with his able guidance and inspiration for the completion of project.

I would also like to express my gratitude to my Project mentor Mr. Sachin Saxena Regional Sales Manager, Cryobanks Internatnal India, for her co-operation and guidance without which this project would never have been a success.

Last but not least I will express my sincere thanks to Prof. Col A. Bala Subramanian, Dr. Manisha Shukla & whole CPS team and Sri Balaji Society, BIIB, Pune, for providing me with support and necessary guidance and valuable instruction for the completion of the project.

CERTIFICATE

EXECUTIVE SUMMARY

This research study was conducted to understand the consumer buying behavior for category footwear. The research is descriptive type and in nature.Buying Behavior is the decision processes and acts of people involved in buying and using products.Need to understand buying behavior : Why consumers make the purchases that they make? What factors influence consumer purchases? The changing factors in our society.The objective for studying consumer buying behavior in footwear category are to understand consumer decision hierarchy at time of purchase of footwear and to understand consumer buying pattern for footwear category.A sample size of 280 was studies by taking interviews inside outside stores and telephonic interviews.Factor analysis of SPSS was used to identify the factors influencing buying behavior for online to be price, color &variety. Influencing factors for retail store are price, offer, brand & comfort. Influencing factors for local market are low price & bargaining.

INTRODUCTIONCONSUMER BUYING BEHAVIOUR

Buying Behavior is the decision processes and acts of people involved in buying and using products.Need to understand buying behavior : Why consumers make the purchases that they make? What factors influence consumer purchases? The changing factors in our society.Consumer Buying Behaviorrefers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for: Buyers reactions to a firms marketing strategy has a great impact on the firms success. The marketing concept stresses that a firm should create aMarketing Mix (MM) that satisfies (gives utility to) customers, therefore need to analyze the what, where, when and how consumers buy. Marketers can better predict how consumers will respond to marketing strategies.

Stages of the Consumer Buying Process :1. Problem Recognition (awareness of need) : difference between the desired state and the actual condition. Deficit in assortment of products. Hunger--Food. Hunger stimulates your need to eat. Can be stimulated by the marketer through product information--did not know you were deficient? i.e., see a commercial for a new pair of shoes, stimulates your recognition that you need a new pair of shoes.

2. Information search : Internal search, memory. External search if you need more information. Friends and relatives (word of mouth). Marketer dominated sources; comparison shopping; public sources etc.A successful information search leaves a buyer with possible set of alternatives.Hungry, want to go out and eat, set of alternatives is Chinese food Indian food Burger king etc

3. Evaluation of Alternatives : need to establish criteria for evaluation, features the buyer wants or does not want. Rank/weight alternatives. May decide that you want to eat something spicy, Indian gets highest rank etc.If not satisfied with your choice then returnsto the search phase. Can you think of another restaurant? Look in the yellow pages etc. Information from different sources may be treated differently. Marketers try to influence by "framing" alternatives.

4. Purchase decision : Choose buying alternative, includes product, package, store, method of purchase etc.

5. Purchase : May differ from decision, time lapse between 4 & 5, product availability.

6. Post-Purchase Evaluation : outcome Satisfaction or Dissatisfaction. Dissonance, have you made the right decision. This can be reduced by warranties, after sales communication etc. After eating an Indian meal, may think that really you wanted a Chinese meal instead.Types of Consumer Buying Behavior :Types of consumer buying behavior are determined by: Level of Involvement in purchase decision. Importance and intensity of interest in a product in a particular situation. Buyers level of involvement determines why he/she is motivated to seek information about a certain products and brands but virtually ignores others.High involvement purchases : Honda Motorbike, high priced goods, products visible to others, and the higher the risk the higher the involvement. Types of risk: Personalrisk Social risk Economic risk

The four type of consumer buying behavior are: Routine Response/Programmed Behavior : buying low involvement frequently purchased low costitems; need very little search and decision effort; purchased almost automatically. Examples include soft drinks, snack foods, milk etc. Limited Decision Making : buying product occasionally. When you need to obtain information about unfamiliar brand in a familiar product category, perhaps. Requires a moderate amount of time for information gathering. Examples include Clothes--know product class but not the brand. Extensive Decision Making/Complex high involvement, unfamiliar, expensive and/or infrequently bought products. High degree of economic/performance/psychologicalrisk. Examples include cars, homes, computers, education. Spend a lot of time seeking information and deciding.Information from the companies MM; friends and relatives, store personnel etc. Go through all six stages of the buying process. Impulse buying, no conscious planning.The purchase of the same product does not always elicit the same Buying Behavior. Product can shift from one category to the next. For example: Going out for dinner for one person may be extensive decision making (for someone that does not go out often at all), but limited decision making for someone else. The reason for the dinner, whether it is an anniversary celebration, or a meal with a couple of friends will also determine the extent of the decision making.Categories that Effect the Consumer Buying Decision Process :A consumer, making a purchase decision will be affected by the following three factors:1. Personal2. Psychological3. SocialThe marketer must be aware of these factors in order to develop an appropriate Marketing Mix for its target market. Personal :Unique to a particular person. Demographic Factors. Sex, Race, Age etc. Who in the family is responsible for the decision making. Young people purchase things for different reasons than older people.Psychological factors : Motives Perception Ability and Knowledge Attitudes Personality LifestylesSocial Factors :Consumer wants, learning, motives etc. are influenced by opinion leaders, person's family, reference groups, social class and culture.

FOOTWEAR

There are nearly 4000 units engaged in manufacturing footwear in India. The industry is dominated by small scale units with the total production of 55%. The total turnover of the footwear industry including leather and non-leather footwear is estimated at Rs.8500-9500 crore (Euro 551.3-1723.1 Million) including Rs.1200-1400 crore (Euro 217.6-253.9 Million) in the household segment. India's share in global leather footwear imports is around 1.4% Major Competitors in the export market for leather footwear are China (14%), Spain (6%) and Italy (21%). The footwear industry exist both in the traditional and modern sector. While the traditional sector is spread throughout the country with pockets of concentration catering largely to the domestic market, the modern sector is largely confined to select centres like Chennai, Ambur, Ranipet, Agra, Kanpur and Delhi with most of their production for export. The booming Indian footwear market has attracted a large number of domestic andinternational players over the past few years, but none have been able to take full advantage of the growth opportunities here. Apart from that, in our country where the youth constitute nearly 60 per cent of the more than billion plus population, have aspirations that are global in nature, but dont have large budgets to purchase footwear. The Indian footwear industry is growing at a compound annual growth rate (CAGR) of about 15 per cent and will reach about Rs 38,700 crore by 2015 from the current level of about Rs 22,000 crore. India produces nearly 300 crore pairs of footwear annually, exports over 10 per cent and accounts for about 15 per cent of annual global footwear production, which is over 2,000 crore.The domestic footwear market is driven by growing fashion consciousness together with increased disposable income among Indias urban middle class, which contributes about 45 per cent of overall footwear market making India the second largest global producer of footwear across varied segments after China. Low cost of production, abundant availability of raw material, ever-evolving retail ecosystem, buying patterns and a huge consumption market are certain basic features that set apart the Indian footwear market. Per capita consumption of shoes in India (number of footwear worn by an individual) is currently about 2.5 shoes per year, said thestudy. The Indian footwear market is dominated by mens segment, which accounts for about 55 per cent, followed by ladies and kids segments, which account for about 30 per cent and 15 per cent respectively.

COMPANY PROFILE

Overview : Every day, Future Group brings multiple products, opportunities and services to millions of customers in India. Through over 16 million square feet of retail space, we serve customers in 95 cities across the country. Most of all, we help India shop, save and realize dreams and aspirations to live a better quality of life every day.

Future Group understands the soul of Indian consumers. As one of Indiasretailpioneers with multiple retail formats, they connect a diverse and passionate community of Indian buyers, sellers andbusinesses. The collective impact on business is staggering: Around 300 million customers walk into their stores each year and choose products and services supplied by over 30,000 small, medium and large entrepreneurs and manufacturers from across India. And this number is set to grow.

Future Group employs 30,000 people directly from every section of our society. They source their supplies from enterprises across the country, creating fresh employment, impacting livelihoods, empowering local communities and fostering mutual growth.

They believe in the Indian dream and have aligned our business practices to our larger objective of being a premier catalyst in Indias consumption-led growth story. Working towards this end, they are ushering positive socio-economic changes in communities to help the Indian dream fly high and theSone Ki Chidiyasoar once again. This approach remains embedded in their ethos even as they rapidly expand their footprints deeper into India.

BUSINESS : BIG BAZAAR Hypermarket Chain FOOD BAZAAR Supermarket Chain EZONE Electronics Superstore HOME TOWN Home improvement & building material store CENTRAL Seamless department store PLANET SPORTS sportswear retailer FOOD HALL Premium Lifestyle food destination ADHAR Rural retail chain KBs FAIRPRICE Urban low-frills neighborhood store FUTURE BAZAAR.com Shopping portal

SERVICES : While retail forms the core business activity of Future Group, group subsidiaries are present in leisure and entertainment, brand development, retail real estate development, retail mediaand logistics. Some of our other businesses include, mobile telephony brand, T24, operated in association with Tata Teleservices, a supply chain and logistics infrastructure company, and a company engaged in providing educational and training services through three Future Innoversity campuses in Ahmedabad, Bangalore and Kolkata.

FINANCE : In the financial space, our group companies offer consumer finance and insuranceto customers, as well as corporate loans and equity investments to companies engaged in consumer businesses.

BELIEFS : Future Group was founded on a simple idea rewrite rules, retain values. This fundamental belief created a new kind of marketplace, forever transforming Indian retail. Today core values continue to guide how they do business and improve the quality of life of the people they serve. They are committed to being a catalyst of positive change in the communities, societies and business sectorsin which they operate. They envision Indias transformation into the legendary 'Sone Ki Chidiya' (golden bird), taking wings once again to reach greater heights. They take pride in our Indianness. Their belief in inclusiveness for long-term sustainable growth and economic prosperity evokes trust among consumers, employees, suppliers, partners, shareholders and the community.

Mission : We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development.

We will be the trendsetters in evolving delivery formats, creatingretailrealty, making consumption affordable for all customer segments for classes and for masses.

We shall infuse Indian brands with confidence and renewed ambition.

We shall be efficient, cost- conscious and committed to quality in whatever we do.

We shall ensure that ourpositive attitude, sincerity, humility and united determination shall be the driving force to make us successful.

Values : Indianness:Confidence in ourselves.

Leadership:To be a leader, both in thought and business.

Respect & Humility:To respect every individual and be humble in our conduct.

Introspection:Leading to purposeful thinking.

Openness:To be open and receptive to new ideas, knowledge and information.

Valuing and Nurturing Relationships:To build long term relationships.

Simplicity & Positivity:Simplicity and positivity in our thought, business and action.

Adaptability:To be flexible and adaptable, to meet challenges.

Flow:To respect and understand the universal laws of nature.

Retail Business :Winning the Hearts of Indian Consumers

Future Group was conceived as a force to drive domestic consumption and capture every addressable need of Indian consumers. Future Group makes every effort to delight its customers, tailoring store formats to changing Indian lifestyles and adapting products andservicesto their desires. The group is credited with creating some of Indias most popular retail chains. The 162-store hypermarket chain, Big Bazaar is ranked amongst the top 3 service brands in the country by The Nielsen Company. Other retail chains include,department storechain, Central, outlet stores chain, Brand Factory, sportswear chain, Planet Sports,homeimprovement and consumer durables chain, Home Town and Ezone, supermarket chain, Food Bazaar, convenience stores chain, KBs Fairprice and a growing rural distribution network through Aadhaar.As modern retail drives fresh demand and consumption in new categories, ourstrategyis based on a deep understanding of Indian consumers, the products they want, and making these products available in every city, in every store format. Future Group offers innovative offerings at affordable prices tailored to the needs of every Indian household. Pioneers in the Indias retail space, our formats are household names in more than 95 cities across the country. Our stores cover around 16 million square feet of retail space and attract around 300 million customers each year. Future Retail Limitedfocuses on the hypermarket & supermarket business led by formats like BB, FB, FBB, Food hall, Home town & Ezone. Future Lifestyle fashionfocuses on the fashionbusinesseswith over 24 popular fashion brands & retail formats like Central, Brand Factory, Planet Sports, I m in and aLL. Future Consumer Enterprise Ltdis group's integrated food company with Food & FMCG brands & retail formats like KBs Fairprice & Aadhar. It also has interest in Food Parks.

BIG BAZAAR

Big Bazaar, is a hypermarket offering a huge array of goods of good quality for all at affordable prices. Big Bazaar is present in both the metro cities as well as in the small towns. Big Bazaar has no doubt made a big name in the retail industry of India, moreover shopping here is further made a memorable experience with the varied rates of discounts on products as well as discount vouchers available in a variety of amounts on all BigBazaar products and accessories.The variety of product range in Big Bazar :This large format store comprise of almost everything required by people from different income groups. It varies from clothing and accessories for all genders like men, women and children, playthings, stationary and toys, footwear, plastics, home utility products, cosmetics, crockery, home textiles, luggage gift items, other novelties, and also foodproducts and grocery. The added advantage for the customers shopping in Big Bazaar is that there are all time discounts and promotional offers going on in the Big Bazaar on its salable products.

Marketing Mix 4Ps :Product:

Price : Value pricing Promotional pricing Differentiated pricing Bundling

Place : Initially indentifies future/potential development areas. Acquires such areas at early phase before the real estate value booms. Located at high traffic areas. Online trading. Designed to look crowded. E-tailing To overcome location disadvantage launched a merchandise retailing website www.futurebazaar.com which targets high end consumers willing to use their credit card. Internet as place has put them in profitable position because there is minimal expense of maintaining a website.

Promotion : Saal ke sabse saste 3 din Future card Shakti card Advertising Brand endorsement Exchange offers Weekend discounts Point of purchase promotion

RESEARCH PROPOSAL

Objective : To understand consumer decision hierarchy at time of purchase of footwear. To understand consumer buying pattern for footwear category.

Hypothesis : Purchasing of footwear shifting towards online from the traditional brick and mortar stores. High priced footwear is purchased at retail outlets and not online as it is not possible to have look and feel of the products. When shopping online brands are preferred over offer & price. When shopping at retail store comfort is preferred over brand.

Research Type : Descriptive Research.

Methodology : Structured questionnaire. Interviews :1. One on one interviews at shop floor.2. One on one interviews outside store.3. Telephonic.

Sample Size : Sample size of 280 was interviewed.

Table 1Age GroupMaleFemale

18-25years9085

25-30years4920

30-35years107

35-40years53

40years & above47

Total158122

Location : Mumbai.

QUESTIONNAIRE

1. Name__________________________________2. Age_________ yrs3. Gender Male FemaleSocio Economic ClassificationQ1. Education qualification of chief wage earner (Please Tick) Illiterate Literate but no formal schooling School 5-9yrs SSC / HSC Some college but not Grad Graduate / Post Graduate General Graduate / Post Graduate Professional

Q2. Durables currently owned at homeSr. No.DurableTick if Owned

1Electricity Connection

2Ceiling Fan

3LPG Stove

42 Wheeler

5Color TV

6Refrigerator

7Washing Machine

8PC / Laptop

9Car / Jeep / Van

10Air Condition

11Agriculture Land

TOTAL

Q3. Is your footwear purchase planned or unplanned? Planned UnplannedQ4. Number of footwear you currently own? 0-5 pair 5-10 pair 10-20 pair 20-30 pair 30 & aboveQ5. Do you look for alternative options before you purchase? What & Where? Yes No____________________________________________________________________________________________________________________________________

Q6. Where do you shop for footwear mostly? Why? (Multiple choice) Online (go to Q7) Local Market (go to Q13) Retail Store (go to Q18)_________________________________________________________________________________________________________________________________

ONLINEQ7. What type of footwear you purchase online? (Multiple choice)Men :Sr.No.TypeTick

1Formal Shoes

2Casual Shoes

3Sports / Gym

4Flip flops / Slippers

Women :Sr.No.TypeTick

1Flats

2Heels

3Wedges

4Bellies

5Sport shoes

6Casual shoes

7Flip flops / Slippers

8Formals

Q8. Rank the following from 1-7 on the basis of factors that influence your purchase? (1- Most important & 7- Least important)a. Brand1234567b. Price1234567c. Offer1234567d. Variety (Style & Design)1234567e. Colour options1234567f. Convenience / add on features1234567 Q9. Which website you prefer shopping from? (Multiple choice) Yepme Myntra Jobong Snapdeal Flipkart Ebay Amazon Other please Specify __________________________________.Q10. Preferred price range for purchase of footwear?