SCDL MBA PROJECT - A Study Of Consumer Perception Towards The Brand Of Easy Day In Jalandhar City”

SCDL MBA PROJECT -  A Study Of Consumer Perception Towards The Brand Of Easy Day In Jalandhar City”




Introduction to the Subject Consumer Perception Perception is defined as the process by which an individual select, organise and interprets stimuli into a meaningful and coherent picture of the world. Two individual may be exposed to the same stimuli under the same time apparent condition but how each person recognizes, selects and organizes and interprets these stimuli is highly individual process based on each persons‟s own needs, values and expectations. A person do not act and react on the basis of objective reality because reality is a phenomenon based on that person‟s need, want, value and personal experience. Consumer perception is basically refers to the buying perception of an individual that how a person perception change to see a particular stimuli and after that how their buying behavior also changed.. So for the marketer, perception are much more important then the knowledge of objective reality. So for the marketer it‟s not more that what they shows to their target market, it‟s is more important that what target market think about their showing object. So it‟s necessary to understand the influencing factor of consumer perception which forces to change their buying behavior. Industry Overview
The Indian retail market, which is the fifth largest retail destination globally, has been ranked as the most attractive emerging market for investment in the retail sector by AT Kearney's eighth annual Global Retail Development Index (GRDI), in 2009. As per a study conducted by the Indian Council for Research on International Economic Relations (ICRIER), the retail sector is expected to contribute to 22 per cent of India's GDP by 2010. With rising consumer demand and greater disposable income, the US$ 400 billion Indian retail sector is clocking an annual growth rate of 30 per cent. It is projected to grow to US$ 700 billion by 2010, according to a report by global consultancy Northbridge Capital. The organised business is expected to be 20 per cent of the total market by then. In 2008, the share of organised retail was 7.5 per cent or US$ 300 million of the total retail market. A McKinsey report, 'The rise of Indian Consumer Market', estimates that the Indian consumer market is likely to grow four times by 2025. Commercial real estate services company, CB Richard Ellis' findings state that India's retail market has moved up
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to the 39th most preferred retail destination in the world in 2009, up from 44 last year. India continues to be among the most attractive countries for global retailers. Foreign direct investment (FDI) inflows as on September 2009, in single-brand retail trading, stood at approximately US$ 47.43 million, according to the Department of Industrial Policy and Promotion (DIPP). India's overall retail sector is expected to rise to US$ 833 billion by 2013 and to US$ 1.3 trillion by 2018, at a compound annual growth rate (CAGR) of 10 per cent. As a democratic country with high growth rates, consumer spending has risen sharply as the youth population (more than 33 percent of the country is below the age of 15) has seen a significant increase in its disposable income. Consumer spending rose an impressive 75 per cent in the past four years alone. Also, organised retail, which is pegged at around US$ 8.14 billion, is expected to grow at a CAGR of 40 per cent to touch US$ 107 billion by 2013. The organised retail sector, which currently accounts for around 5 per cent of the Indian retail market, is all set to witness maximum number continued