13-09-2012, 12:55 PM
The Impact of Promotional Activities by Shopping Malls in creating footfall
Final malls footfall.docx (Size: 58.17 KB / Downloads: 80)
INTRODUCTION:-
A ''shopping mall'' is a building or set of buildings which contain retail units, with interconnecting walkways enabling visitors to easily walk from unit to unit. The population is moving towards the middle class or upper middle class this is resulting in the higher disposable income.
A shopping center enclosed within a large structure; often two or three stories high, often designed around a central atrium; may have numerous stores, as well as entertainment facilities such as movie theaters, fast-food outlets, restaurants, and public areas.
In the present competitive world if any business organization has to survive it needs to keep an eye on various forces operating in the market. Market research is an efficiency tool in the hands of a marketer that helps him to take changes taking place in the market. Shopping malls are operating in an increasingly competitive environment characterized by over capacity and declining customers (where the promotional activities of the mall are increasingly being used to differentiate the mall through image communication, increase visits and stimulate merchandise purchases Research on the use of marketing tools and measuring their effectiveness as driving factors of shopping malls. The report has been drawn up with the objective of identify and analyze that how the malls are engaging themselves in various promotion activities by which they are attracting the customers to the malls and to what extent these activities are helpful in achieving those objectives and how retailers are benefited by those promotions.
WORKING PRINCIPLE:-
The main principle behind this project is to know about the different promotional activities that the malls are involved in and how effective are those activities in attracting customers. And also to know that towards which kind of activities the customers are attracted towards.
This study will help to understand the decision making styles of the shoppers in the malls and help them to craft their marketing strategies. Profiling consumers by their buying decision-making styles provide more meaningful ways to identify and understand various consumer segments and to target each segment with more focused marketing strategies. These decision making styles were perfectionist/high quality conscious consumer, brand conscious, novelty and fashion conscious, recreational and shopping conscious, price conscious, impulsive /careless, confused by over choice, habitual/brand loyal. .This study can play a major role for organizations while planning its marketing activities, & decide on the promotions for the same. This study also helps the managers of shopping malls to review how their promotional strategies work for attracting the customers.
DATA ANALYSIS AND INTERPRETATION:-
The purpose of this study is to discover and analyze the impact of various consumer sales promotion techniques on shopper as driving factors of shopping malls and measures their effectiveness. For the data analysis we select the 5 question that are directly related to objective of research and response of these represent in pie chart by using percentile method and result is in tabulated form.
FINDINGS:-
In the survey and study conducted above, we came across that promotional activity conducted by shopping malls influence the customer’s visiting and their subsequent shopping and buying decision. Here, we present the findings gathered and the suggestions we offer to the retail malls based on the data gathered and analyzed.
In the research it is found that highest number of the respondents falls in the age group 18-30. It can be deducted that most of the consumers who visit retail malls regularly are the youth. In the survey it is found that the highest number of respondents were male, the number of female respondent were less compared to the male respondent.
Consumers approached were asked which retail mall they shopped at frequently. The retail mall brands placed before them were Great India Palace, Centrestage mall, Spice mall. By analyzing the response to this question, customer’s preferences among the varied choice of stores is identified, and how much market share they hold is calculated. The highest number of responses has been attributed to Great India Palace (G.I.P), which attracts people of many incomes groups, and offers products that appeal to a wide array of consumers. The other malls can be ranked in descending order of preference or frequency of visits as: Centrestage mall, Spice mall, Shopprix mall.
Consumers approached were asked to indicate from which source they come to know about the retail malls, the type of sources were word of mouth, magazines, print media, electronic media and Newspaper. By analyzing to this question, it is identified that the high number of respondents comes to know about the shopping malls by Newspaper or by the word of mouth.
CONCLUSIONS:-
Across the shopping malls where the research study was conducted, it was found that four major factors drive the Indian shoppers towards shopping mall. It can be understood that Indian shoppers give more importance to, price, offers, Customer care, and shopping mall facilities. And also the shopping mall attributes to capture in the mind of Indian shopper for selecting the shopping mall. Among various promotional tools evaluated, all the promotional tools influence on different segment therefore, In spite of challenges, sales promotion act as versatile weapon for marketing the product and service. Consumer promotion has become a common practice for majority of the product and services. Promotions technique has a long way to go in Indian retail industry market.