The changing face of consumer behavior in response to organized retail markets in India

Type :

Research papers

Pages :

33 pages

Format :

.doc

Published date :

04/02/2009

Category :

Business & market

Sub category :

Business strategy

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Summary :

Introduction
Objectives of the study
Research methodology
Industry profile
1. An overview of retail sector
2. Malls in India
A study on consumer behavior
1. Various stages in the buying process
2. Marketing strategy for a retailer
Data analysis
Recommendation
Questionnaire
Bibliography
Conclusion

Abstract

The retail sector in the developing countries is witnessing a huge revamping exercise as traditional markets make way for new formats such as departmental stores, hypermarkets, supermarkets and specialty stores. Rated the fifth most attractive emerging retail market, india is being seen as a potential goldmine. A recent McKinsey study titled "india's Retailing Comes of Age" has predicted a retail revolution in india. Store Retailing as the departmental store, which is a store or multi brand outlet, offering an array of products in various categories under one roof, trying to cater to not one or two but many segments of the society and Non store retailing as the direct selling, direct marketing, automatic vending. Most of these stores believe in creating not just a marketing activity with its customers, but rather favor relationship building with him so as to convert first time customers into a client.

A number of Indian and international retailers are entering this nascent, though dynamic market. Market liberalization and increasingly assertive consumers are sowing the seeds of a retail transformation that will bring bigger Indian and multinational players on to the scene. Buoyed by a strong increase in private consumption, retailing is one industry that is waiting to explode. Though retail may well be our next sunrise industry after Information Technology, capitalizing on the opportunities is still a formidable task for retailers. We may have made several forays into the world of international retailing, but success has only been moderate. At about 2 per cent of the total global retail market, we are still only scraping the surface.