Effect of Media Violence on Children Essay

1. Executive Summary Purpose of the Study: To identify the most desired groups of customers and the need states that can best serve and then redesigns its marketing practices to target them. Particularly when reacting to competitive moves over time. Considering the increasingly competitive retail environment described in the competitor moves, these methods are adequate. Major findings: This study helped us to establish that merchandizing has potential to increase periodic sale more than 30%. The aspect of a consumer is buying behavior we found that merchandizing is fully capable change the impulsive buying decision of the customer and it influence to increase the awareness related to the product. Further, we set up that merchandizing is helpful tool to expand the customer portfolio. Conclusions: The study concluded that merchandizing is a device to enhance the accessibility, Small to the Left, and Large to the Right, At Eye and Hand Level. Merchandizing is perceived as marketing channel along the other very strong channels like television, and other Medias. Merchandising is helping merchants to finally understand and influence consumer behavior by blending science-based insights about price, promotion and assortment with the artful judgments of experienced merchants that will always be necessary. Recommendations: Generally, there are three ways to present product. You can: * Shelve it on a table, platform, riser, fixture or wall shelf. * Hang it on a wall bracket, peg hook, hangar, and panel or floor fixture. * Combine shelving and hanging in a multiple presentation. * To be effective, cross-presented merchandise must relate in a logical way, such as: Coordinating items that would be used together, such as pasta, sauces pasta cookware and pasta cookbooks * Items that are colour coordinated * A range of products that offer customers choice within a particular category such as cappuccino or espresso coffee-makers and plain or patterned dinnerware that can be mixed and matched * Products that offer themed ideas such as baby gifts, stocking stuffers or a fondue story. Cross-merchandising pays off best when located in prime real estate areas such as: * Strike zones – along aisles and on end-caps * Focal points -near service areas such as cash desks or fitting rooms 2 Problem Definition: 3.1 Background of the Problem: The era of product-centric retail management is giving way to one in which market leaders apply a more strategic, more targeted, more localized approach to communicating a value proposition to their customers. Top-performing retailers, realizing they cannot be everything to everybody, are now taking a more consumer-centric approach to merchandising, creating competitive advantages and differentiating themselves in the highly competitive retail industry. Consumer-Centric Merchandising is a way of planning and executing pricing, promotion, assortment and other plans, driven by a deep understanding of customers, consumer demand, and the competitive marketplace vying for attention and wallet share. Consumer-Centric Merchandising is enabled by advanced science that taps into rich data sources and extracts insights that were never before available to support merchandising decision-makers. It enables better decisions in such critical areas as everyday pricing; promotion planning; merchandising support, timing and depth of markdowns; and assortment. It supports tailoring of merchandising to match demand variations across geographies and customer segments and it enables better forecasting. For the leading retailers now putting it into practice, Consumer-Centric Merchandising is also breaking down the walls between marketing and merchandising, creating synergies that drive exceptional, positive impact on price image and customer loyalty, sales volume, and the bottom line. Big-box retailers don’t gamble. They rely on systems that play to the strengths of efficient supplier and distribution networks. They deliver bulk-rate items to a generic customer base, which forces you and other competing retailers to gamble on pricing and promotions to try and keep pace. These levers can’t be left to chance. Merchandising, Promotions, Regular Pricing, Markdowns, Product Assortment, and Placement are important motivators of the shopping experience that can differentiate your store from your competitors in the minds of the consumer. To improve the odds, you need a suite of consumer demand applications as the Agha’s super store supply network to take the gamble out of your merchandising strategies. Refers to a detailed understanding of a retailer’s customers – in terms of who they are, what they do in that retailer’s store, and what they do outside the store. It includes an understanding of what they buy and why. Insights are based on market basket analysis of T-Log data, loyalty card data to analyze identified transactions over time, panel data, and other sources. It permits segmentation of customers based on lifestyle, shopping behavior, and value. 3.2 Statement of the Problem To understand the impact of merchandising on following: Periodic Sales: – To evaluate whether periodic sale increase or no tangible effect after lunching a merchandising campaign. To analyze changes in impulsive buying behavior of consumer, this is finally a factor to change the periodic sales. Consumer’s response: – To assess that how will consumers respond to merchandising. To understand will merchandising support retailer to more accurately predict the outcome of its own pricing and promotion actions, and to learn when to anticipate a competitive response. 3 Approach to the problem 4.3 The Design–Methods and Procedures: Research Design: A framework or blueprint for conducting the marketing research project. It specifies the details of the procedures necessary for obtaining the information needed to structure and/or solve marketing research problem. Research design has two major categories. I. Exploratory Research Design. II. Conclusive Research Design. Exploratory Research Design: One type of research design, which has as its primary objective the provision of insights into and comprehension of the problem situation confronting the researcher. Conclusive Research Design: Research designed to assist the decision maker in determining, evaluating and selecting best course of action to take in a given situation. It has further two categories which are as follows. a) Casual Research. b) Descriptive Research. Casual Research: A type of conclusive research where the major objective is to obtain evidence regarding cause and effect (casual) relationship. Descriptive Research: One type of conclusive research that has as its major objective the description of something, usually market characteristics or functions. Descriptive researches are further divided into two classes. a. Longitudinal Design b. Cross Sectional Design Longitudinal Design: One type of research design involving a fixed sample of population elements that is measured repeatedly on the same variable. The sample remains same over time, thus providing a series of pictures which, when viewed together portray an illustration of the situation and changes that are taking place over time. Cross Sectional Design: A type of research design involving the collection of information from any given sample of population elements only once. It is further divided in two groups. * Single Cross Sectional Design * Multiple Cross Sectional Design Single Cross Sectional Design: A cross sectional design in which one sample of respondents is drawn from the target population and information is obtained from this sample once. Multiple Cross Sectional Design: A research design in which there are two or more samples of respondents, and information from each sample is obtained only once. We have applied the descriptive research design to conduct the study to estimate the impact of consumer centric merchandising on consumer response, impulsive buying decision and periodic sales. Sampling: There are two major groups of sampling methods 1. Probability Sampling 2. Non- Probability Sampling Probability Sampling: A sampling procedure in which each element of population has a fixed probabilistic claim of being selected for the sample. The Probability Sampling is further divided into four classes. I. Simple Random Sampling (SRS) II. Systematic Simple Random Sampling III. Cluster Sampling IV. Stratified Sampling Simple Random Sampling (SRS): A probability sampling technique in which each element in the population has known and equal probability of selection. Every element is selected independently of every other element and sample is drawn by random procedure from a sampling frame. Systematic Simple Random Sampling: A probability sampling technique in which the sample is chosen by selecting a random starting point and than picking every ith element in succession from the sampling frame. Cluster Sampling: First, the target population is divided into mutually exclusive and collectively exhaustive subpopulations called clusters. Then, a random sample of clusters is selected based on probability sampling technique such as simple random sampling. For each selected cluster, either all the elements are included in the sample or a sample of elements is drawn probabilistically. A common factor of cluster sampling is area sampling, in which the clusters consist of geographic areas. Stratified Sampling: A probability sampling technique that uses a two-step process to partition the population into subpopulations, or strata. Elements are selected from each stratum by random procedure. The variables used to partition the population into strata are referred to as stratification variable. The criteria for the selection of these variables consist of homogeneity, heterogeneity and relatedness. Non- Probability Sampling: Sampling techniques that do not use chance selection procedures. Rather, they rely on the personal judgment of the researcher. The Non-Probability Sampling is further divided into four categories. a) Convenience Sampling b) Judgmental Sampling c) Quota Sampling d) Snowball Sampling Convenience Sampling: A non-probability sampling technique that attempts to obtain a sample of convenient elements. The selection of sampling units is left primarily to the researcher. Judgmental Sampling: A form of convenience sampling in which the population elements are purposely selected based on the judgment of the researcher. Quota Sampling: A non-probability sampling technique that is a two-stage restricted judgmental sampling. The first stage consists of developing control categories or quotas of population of elements. In the second stage, sample elements are selected based on the convenience of judgment. Snowball Sampling: A non-probability sampling technique in which an initial group of respondents is selected randomly, Subsequent respondents are selected based on the referrals or information provided by the initial respondents. This process may be carried out in waves by obtaining referrals from referrals. Sampling Method Applied: To conduct the study the non-probability sampling technique was applied. In non-probability sampling further quota sampling method has been employed. The reason for selection of quota sampling was depress and odd target population (retail outlets) in Karachi. Sample Size: Total sample of 26 respondents was selected for this study. Thirteen respondents (retail outlets) were selected from each district of Karachi. Data Collection: The data was collected through a questionnaire of about three pages & a screener of one page the retail outlets those were dealing in FMCG products (who at least had good exposure of merchandising with in last six month). The data was collected by researcher his own-self through face to face interviews. Data Analysis: The open ended questions were transformed in to quantitative form through coding techniques. Then collected data was entered in SPSS and analyzed through statistical and inferential tools of SPSS. The data have been presented in tables, and graphs format. With the help of these tables and graphs we have drawn a conclusion followed by a final recommendation in the shape of formal report.