CHAPTER 1: INTORDUCTION
1.1 BACKGROUND OF THE STUDY:
Retail store is the place where the customers take a decision on the purchase of the products offered by the retailer. The store also influences the perception that customers forms in their minds about the store, the products, services and staff. . Managing store operations for a small retail business of any size or complexity from the neighbourhood grocer to the national retail chain is a challenging task .It requires integration among various functions within the store. When all the functions are performed in an integration manner, the store operations run smoothly. One has to attract new customer and retain the existing customer in order to get the optimum result. 1.2 BACKGROUND OF THE TOPIC:
The topic throws the light on the reasons behind the decision of customers in choosing Pantaloons for purchasing Apparels or any other product. To understand and analyze the consumer behaviors and their responses to various stimuli present at the store and accordingly managing and monitoring the store operations and gauging its impact on overall customer’s behavior. Behavior of targeted customer towards merchandise and understanding their behavior. Also to check and understand which factor if improved will lead to the customer loyalty or recommendation to the product.
Pantaloons Fashion Retail Limited, is a large Indian Retailer, recently been a part of Aditya Birla Group, and operates in the multiple retail formats both in value and lifestyle, segments of the Indian consumer market. Headquartered in Mumbai, the company has US $40 billion Corporation, the Aditya Birla Group is in the League of Fortune 500. It is anchored by an extraordinary force of over 136,000 employees belonging to 42 different nationalities. The Group has been ranked Number 4 in the global ‘Top Companies for Leaders’ survey and ranked Number 1 in Asia Pacific for 2011. ‘Top Companies for Leaders’ is the most comprehensive study of organisational leadership in the world conducted by Aon Hewitt, Fortune Magazine, and RBL (a strategic HR and Leadership Advisory firm). Over 50 per cent of the Aditya Birla Group’s revenues flow from its overseas operations. The Group operates in 36 countries – Australia, Austria, Bangladesh, Brazil, Canada, China, Egypt, France, Germany, Hungary, India, Indonesia, Italy, Ivory Coast, Japan, Korea, Laos, Luxembourg, Malaysia, Myanmar, Philippines, Poland, Russia, Singapore, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Tanzania, Thailand, Turkey, UAE, UK, USA, and Vietnam. Pantaloons ranks amongst the top five retailers in India.
Pantaloon Retail India Limited (PRIL) was incorporated on October 12, 1987 as ‘Manz Wear’ Private Limited under the stewardship of Mr.Kishore Biyani. The Company was converted into a Public Limited Company on September 20,1991 and on September 25,1992 the name was changed to Pantaloon Fashions (India) Limited and the same time it went public.
Today it has approximately 14,000 shareholders. It changed its name to Pantaloon Retail (India) Limited on 7th July 1999, and after the acquisition by Aditya Birla in 2013 the name further change to Pantaloons Fashion Retail Limited
From a humble beginning in 1987, Pantaloon has today evolved as a leading manufacturer-retailer in the country. It has been a remarkable journey for PFRL as it evolved from a manufacturing to a completely integrated player controlling the entire value chain.
The company has aggressive growth plans to achieve scale of economy and take leadership position in this evolving industry. PFRL's ability to evolve from smaller format into large format retail stores is well proven. With aggressive growth plans the company has identified many locations across the company to roll out stores in the future.
1.4 STATEMENT OF THE PROBLEM / WORK ASSIGND
To understand the “Consumer behaviour in Pantaloon store.”...
Bibliography: * Retail Management –A strategic approach ,Pearson College Div(2006)
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