Project On Consumer Buying Behaviour Of Van Huesen

Transcript

INTRODUCTION As a consumer we are all unique and this uniqueness is reflected in the consumption pattern and process purchase. The study of consumer behavior provides us with reasons why consumers differ from one another in buying using products and services. We receive stimuli from the environment and the specifics of the marketing strategies of different products and services, and responds to these stimuli in terms of either buying or not  buying product. In between the stage of receiving the stimuli and responding to it, the consumer goes through the process of making his decision. Stages of the Consumer Buying Process: Six Stages to the Consumer Buying Decision Process (For complex decisions). Actual purchasing is only one stage of the process. Not all decision processes lead to a purchase. All consumer decisions do not always include all 6 stages, determined by the degree of  complexity...discussed next. The 6 stages are: 1.Probl em R ecogniti onD ifference 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 searchy Internal search, memory. y External search if you need more information. Friends and relatives (word of mouth). Marketer dominated sources; comparison shopping; public sources etc. 3.Ev aluation of Alternati ves Need to establish criteria for  evaluation, features the buyer wants or does not want. Rank/weight alternatives or resume search. May decide that you want to eat something spicy, Indian gets highest rank etc. If not satisfied with your choices then return to 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 decisi on- 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. Cognitive 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. Factors Eff ecting the Consumer Buying Decision Process A consumer, making a purchase decision will be affected by the following three factors: 1.Cultural and sub culture Factor  2. Social Factor  3. Personal Factor  Culture and Sub - culture- Culture refers to the set of values, ideas, and attitudes that are accepted by a homogenous group of people and transmitted to the next generation. Culture also determines what is acceptable with  product advertising. Culture determines what people wear, eat, reside and travel. Cultural values in the US are good health, education, individualism and freedom. In American culture time scarcity is a growing problem that is change in meals. Big impact on international marketing. Culture can b e divided into y Geographic regions characteristics such as age and ethnic  background. West Coast, teenage and Asian American. Culture affects what people buy, how they buy and when they  buy. Understanding Consumer Buying Behavior offers consumers greater  satisfaction (Utility). We must assume that the company has adopted the Marketing Concept and are consumer oriented. y Human subcultures: Social Factors Consumer wants, learning, motives etc. are influenced by opinion leaders, person's family, reference groups, social class and culture. Roles and Family Influences- Role...things you should do based on the expectations of you from your position within a group. People have many roles. Husband, father, employer, employee. Individuals role are continuing to change therefore marketers must continue to update information. Family is the most basic group a person belongs to. Marketers must understand: y y y y that many family decisions are made by the family uni oconsumer behavior starts in the family unit family roles and preferences are the model for  children's future family (can reject/alter/etc) family buying decisions are a mixture of family interactions and individual decision making Family acts an interpreter of social and cultural values for the individual. The Family life cycle: families go through stages; each stage creates different consumer demands: R ef ere erence Groups- Individual identifies with the group to the extent that he takes on many of the values, attitudes or behaviors of the group members. Families, friends, sororities, civic and professional organizations. Any group that has a positive or negative influence on a persons attitude and behavior. Membership groups (belong to) Affinity marketing is focused on the desires of consumers that belong to reference groups. Marketers get the groups to approve the product and communicate that approval to its members. Credit Cards etc.!! Aspiration groups (want to belong to) Disassociate groups (do not want to belong to) Honda, tries to disassociate from the "biker" group. The degree to which a reference group will affect a purchase decision depends on an individuals susceptibility to reference group influence and the strength of his/her involvement with the group. Social Class An open group of individuals who have similar social rank. US is not a classless society. US criteria; occupation, education, income, wealth, race, ethnic groups and possessions. Social class influences many aspects of our lives. i.e; upper  middle class Americans prefer luxury cars Mercedes. y y y y Upper-upper class, .3%, inherited wealth, aristocratic names. Lower-upper class, 1.2%, newer social elite, from current professionals and corporate elite Upper-middle class, 12.5%, college graduates, managers and professionals Middle class, 32%, average pay white collar workers and blue collar friends y Working class, 38%, average pay blue collar workers y Lower class, 9%, working, not on welfare y Lower-lower class, 7%, on welfare Social class determines to some extent, the types, quality, and quantity of products that a person buys or uses. Lower class people tend to stay close to home when shopping; do not engage in much pre-purchase information gathering. Stores project definite class images. Family, reference groups and social classes are all social influences on consumer behavior. All operate within a larger culture. Personal Factor Unique to a particular person. Demographic Factors, Sex, Race, Age etc. Who in the family famil y is responsible for the decision making? Young  people purchase things for different reasons than older people. Psychological f actors Psychological factors include: Motives- A motive is an internal energizing force that orients a person's activities toward satisfying a need or achieving a goal. Actions are effected by a set of motives, not just one. If marketers can identify motives then they can better develop a marketing mix. MA SLOW y Physiological y Safety y Love and Belonging y Esteem y Self Actualization  Need hierarchy of needs!! to determine what level of the hierarchy the consumers are at to determine what motivates their purchases. The product was not selling well, and was almost terminated. Upon extensive research it was determined that the product did sell well in inner-city convenience stores. It was determined that the consumers for the  product were actually drug addicts who couldn't digest a regular meal. They would purchase  Nutriment as a substitute for a meal. Their  motivation to purchase was completely different to the motivation that B-MS had originally thought. These consumers were at thePhysio logical level of the hierarchy. BM-S therefore had to redesign its MM to better meet the needs of This target market. Motives often operate at a subconscious level therefore are difficult to measure. Perception Perception is the process of selecting, organizing and interpreting information inputs to produce meaning. IE we chose what info we pay attention to, organize it and interpret it. Information inputs are the sensations received through sight, Taste, hearing, smell and touch. Selective Exposure-select inputs to be exposed to our  awareness. More likely if it is linked to an event, satisfies current needs, intensity of input changes (sharp price drop). Selective D istortion-Changing/twisting current received information, inconsistent with beliefs. Advertisers that use comparative advertisements (pitching one  product against another), have to be very careful that consumers do not distort the facts and perceive that the advertisement was for the competitor. A current example...MCI and AT&T...do you ever get confused? Selective Retention-Remember inputs that support beliefs, forgets those that don't. Average supermarket shopper is exposed to 17,000  products in a shopping visit lasting 30 minutes-60% of purchases are unplanned. Exposed to 1,500 advertisement per day. Can't be expected to be aware of all these inputs, and certainly will not retain many. Interpreting information is based on what is already familiar, on knowledge that is stored in the memory Lif esty estylesRecent US trends in lifestyles are a shift towards personal independence and individualism and a preference for a healthy, natural lifestyle. Lifestyles are the consistent patterns people follow in their  lives. The marketer must be aware of these factors in order to develop an appropriate MM for its target market Company profile Van Heusen Corporation is one of the world's largest apparel companies. It owns and markets the Calvin Klein brand worldwide. It is the world's largest shirt and neckwear company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, IZOD, ARROW, Bass and G.H. Bass & Co., and its licensed brands including Geoffrey Beene, Kenneth Cole  New York, Kenneth Cole Reaction, unlisted, A Kenneth Cole Production, BCBG Max Azria, BCBG Attitude, MICHAEL Michael Kors, Sean John, Chaps, Don ald J. Trump Signature Collection, JOE Joseph Abboud, Tommy Hilfiger, DKNY, and Timberland. Product profile Research objective FOLLOWI NG RESEARCH OBJECTIVE IS T HE OBJECTIVES OF RESEARCH y To stud study y the consumer behaviour with respect to Van Heusen. y To find out purpose of buying van huusen products. y y To study the awareness of various companies regarding branded clothes. To find out channel of communication which is preffered by cuctomers y To find out how often customers visit ven huesen store. y To find out which other brands customer normally buy. y To find out the normal spending of customers on clothes per  year. Research Design RESEARCH DESIGN Type and source of data: 1.primary data: Collected directly from customers by using questionnaire 2.secondary data: Secondary data is taken from company website,brouchers,company register etc. 3. data collection method: survey 4.research instrument: Include 10 questions 5.sampling plan: 1)consumer behavior study i. sampling unit- ven heusen customer  ii.sampling size- 50 2)duration: 10 days. RESEARCH LIMITATIO N RESEARCH LIMITATIO N Following is the limitation of research  Information given by the customer is assumed to be true.  Because of time constrain the sample size is limited. Analysis & Interpretation SIZE NORMALLY CUSTOMERS WEAR Particular Particul ar 30-34 35-38 39-42 43-47 Freq Shirt 1 43 6 Freq Trouser 33 15 2 - Shirt Per 2 86 12 Trouser Per  66 30 4 0 1 0.9 0.8 0.7 0.6 0.5 Shirt % 0.4 Trouser % 0.3 0.2 0.1 0 3 0 -3 4 35 -38 39-42 4 3- 4 7 INTERPRETATION 1) According to the customers survey normal Shirt size is in the Range of 39  42 i.e. 86%. 2) Normal Trouser size is 30  34 i.e. 66% according to our survey. COMMUNICATION CHANNEL PREFERED BY VAN HUESEN CUSTOMERS Particular Particul ar Letter Sms Call E-mail Frequency Freq uency 4 24 7 15 Percentage 8 48 14 30 60% 50% 40% Letters 30% Sms   all 20% E-mail 10% 0% 1 INTERPRETATION 1) Most preferable network is SMS which is preferred by 48% customers. 2) The Second most preferable network is E-mail i.e. 30%. HOW OFTEN CUSTMERS LIKE TO RECEIVE INFORMATION ABOUT VAN HUESEN Particular Particul ar Once In month Once in two month Once in six month Frequency Freq uency 23 25 2 Percentage 46 50 4 60% 50% 40% Once in month 30% Once in two months 20% Once six month 10% 0% Percentage INTERPRETATION 1) According to survey customers like to receive information about store Once in Two month. HOW OFTEN CUSTOMERS VISIT ANY VAN HUESEN STORE Particular Particul ar Once In two month Once in three month Once in six month Frequency Freq uency 23 18 9 Percentage 46 36 18 50% 45% 40% 35% 30% Once in two month 25% Once in three month 20% Once in six months 15% 10% 5% 0% Percentage INTERPRETATION 1) Most of the customers visit VAN HUESEN Store in every two months i.e. 46% of the total sample size. WHY PEOPLES BUY VAN HUESEN CLOTHES Particular Particul ar Brand Style Fit Range Frequency Freq uency 15 17 13 5 Percentage 30 34 26 10 40% 35% 30% 25% Brand 20% Style 15% Fit Range 10% 5% 0% Percentage INTERPRETATION 1) The customers buy VAN HUESEN Clothes because of its Style and Fitting i.e. 34% and 26%. 2) However some customers buy it for Brand Name. CUSTOMERS SPENDING ON CLOTHES PER YEAR Particular Particul ar 5000-10000 10000-15000 15000-20000 Above 20000 Frequency Freq uency 25 20 3 2 Percentage 50 40 6 2 60% 50% 40% 5000-10000 30% 10000-15000 15000-20000 20% above 20000 10% 0% Percentage INTERPRETATION 1) The average spending of customers on clothes is in the range of 5000  10000 i.e. 50% of the total sample size OTHER BRANDS NORMALLY PREFERRED BY CUSTOMERS Brand Name Arrow Allen Solly Louis Philippe Wills Lifestyle Color Plus Zodiac Frequency 4 10 14 7 4 11 Percentage Percentag e 8 20 28 14 8 22 30% 25% Arrow 20% Allen Solly 15% Louis Philippe ¡  ills Lifestyle 10% Color Plus Zodiac 5% 0% Percentage INTERPRETATION 1) Most preferable Brand other than VAN HUESEN is LOUIS PHILIPPE which is preferred by almost 28% customer as per our survey. 2) The second most preferable Brand by customers is ZODIAC which is almost 22% of the sample size PERCENTAGE OF MALE AND FEMALE VISITED STORE DURING SURVEY Particular Particul ar Male Female Frequency Freq uency 45 5 Percentage 90 10 Percentage Male Female INTERPRETATION 1) According to our survey we noted that most of the visitors of VAN HUESEN are Male i.e. 90% of total customers CUSTOMER SATISFACTION SURVEY Particular Particul ar Very Satisfied Satisfied Unsatisfied Very Unsatisfied Frequency Freq uency 25 23 3 0 Perce erce 60 50 40 30 20 10 Percentage 50 46 6 0 tage tage ¢  ¢  ¢  ¢  ¢  Percentage ¢  0 ¢  INTERPRETATION 1) According to survey customers are very satisfied with this Brand. RESEARCH FI NDI NG RESEARCH FI ND I NG  BRA ND  NAME A ND FITTI NG ARE THE IMPORTA NT FACTOR FOR BUYI NG VE N HUESE N PRODUCTS.  MOST CUSTOMER VISIT VE N HUESE N I N EVERY 2 MO NTHS.  CUSTOMER LIKE TO RECEIVE UP DATES ABOUT STORE THRO GH SMS.  THE OTHER MOST PREFERABLE BRA ND IS ZODIAC I N COMPARISIO N WITHVE N HUESE N.  CUSTOMERS ARE VERY SATISFIE D WITH VE N HUESE N BRA ND.  CUSTOMERS SPE ND O N CLOTHES I N THE RA NGE OF 5000-10000 EVERY YEAR. SUGGESTIO NS SUGGESTIONS   V   EN HUESEN SHOULD INCREASE CASUAL S TOCK.  SHOULD INCREASE THE RANGE AV   AILABLE AT  THIS PARTICULAR STOCK.  SHOULD COME UP WITH 38 AND 36 CM SIZE IN  SHIRTS    LAUNCH NEW TYPE OF OCCASIONAL WEAR TSHIRTS.  COMPANY SHOULD COME UP WITH NEW   DISCOUNTS SCHEMES. CO NCLUSIO N CO NCLUSIO N The aim of marketing is to meet and satisfy target customer  s  need and want. Studying customer provides clues for developing new  product, product features. Company challenge is to produce delight and loyal customer. A company would be wise to measure customer  satisfaction regularly, because the key to customer retention is customer. The project is undertaken for VA N HEUSE N which is the leading brand for apparel in World. The aim of project is to study of consumer behavior with respect to apparel and customer satisfaction level. For this research primary and secondary data is used in which  primary data is collected directly from customer through open and close ± ended questionnaire, answer filled by customer for which  personal contact was made with customer in VA N HEUSE N store . Most of the customers purchase VA N HEUSE N products  because of its fitting and very high percentage of customers are satisfied with VA N HEUSE N service and product line. The most customers have suggested that store should come up with new discount schemes. According to our survey the other most preferable brand is LOUIS PHILLIPPE and ZOD IAC. Most of the visitors are Men very few customers are unsatisfied with this brand and so its become recommended Brand. Because of its unique collection VA N HEUSE N is on the top  position in today¶s competitive market APPE NDIX VANHEUSEN Feedback Form Name: First Name: _________________ Last Name: _________________  Gender: MMM F Birth Date Date (dd/mm/yy) : __/__/____  Mobile No: _ _ _ _ _ _ _ _ _ _  1. Please let us know what what size your normally wear ? Shirt Trouser  2. Your Occupation: Designation:_________________________________________  Company name:_________________________ name:______________________________________  _____________  3. How would would you prefer to receive communication communication from van van huesen? Email Letter Sms Call on mobile 4. How often you would you like to receive communication about van huesen? Once in two months Once a month Once in six month 5. How often do you visit any van heusen store? Once in two months Once in 3 month 6. Why do buy van heusen? Once in six month Please rank the following options with1 being the most preferred option and 5 being the least preferred: Brand Style Fit Range Price Pri ce 7. Which other brands do you normally buy?   Arrow Color Plus Allen Solly Zodiac Louis Philippe Wills Lifestyle 8. Why do you buy this brand?  _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _   _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _   _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _   _ _ _  9. Do you have any special requirements that van heusen could address?  _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _   _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _   _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _   _ _ _  10. Are you satisfied with VAN HEUSEN? a) Very satisfied b) Satisfied c) Unsatisfied d) Very unsatisfied 11. How much you spend on your clothes per year? a) 5000 ± 10000 b)10000 ± 15000 c)15000 ± 20000 d) Above 20000 BIBLIOGRAPHY Bibliography 1) Marketing Management -By Philip Kotler  2) Research Methodology -C. R. Kothari 3) Website www.vanheusen.com 4) Booklet of VA N HEUSE N, advertisement posters, broachers, etc