Retailing strategy of products and customer services in organized retail sector

The purpose of this research work is to furnish a conclusive picture of retailing strategies of products and customer services in the organised retail sector. Therefore, the research work is multifarious and comprises the analysis of the various products & customer services and retailing strategies introduced by organised retail industry to comprehend the viewpoint of organised retailers. And to perceive the viewpoint of customers, an analysis of their buying behaviour, factors influencing their buying behaviour and satisfaction level with various products & customer services have also been incorporated in this work. Both descriptive and exploratory research approaches were employed in compiling this study. The study was endeavoured in the Maharashtra state of India and the organised retail stores from various segments were selected from various parts of the state. Efforts were made to cover the entire state geographically and regionally, at least 2 well-known cities were selected from each region. The whole Maharashtra state was divided into 5 regions, i.e. northern, southern, eastern, western and central. From each region, two well-known cities were selected. Further, from each city, one retail store was selected for the study. Out of total 10 retail stores, 5 were hyper stores and remaining 5 were super stores. These hyper and super stores have also been selected by a planning that from each region one hyper and one super store must be selected for the study. A non-probability convenience sampling technique was resorted for institutional (store personnel) and individual (customers) respondents. From each retail store, an institutional questionnaire got filled up by store personnel to receive accurate data about various products, services and retailing strategies introduced by the respective retail store. In total 2000 customers of retail stores (i.e. 10 retail stores * 200 customers) were contacted. From the area of each selected retail stores 200 respondents contacted at a convenient basis for obtaining data about their buying behaviour, factors influencing their buying behaviour, and satisfaction level pertained to products and services offered by retail stores. The research work is based on both secondary and primary data. Two instruments, one for personnel of retail stores (institutional questionnaire) and another for customers of retail stores (individual questionnaire), were constructed to accomplish the objectives of the study. Both questionnaires were tested by conducting a pilot study of the few respondents selected on a random basis. Taking the insight from this pre-testing of the questionnaires, certain items were included and even excluded to modify the questionnaire for the final study. Survey method and printed questionnaires were exercised in accumulating the primary data. The questionnaires were supervised individually practising the face to face approach. The research work yields vivid research results. Most noteworthy, results depicted that retailing strategies introduced by organised retailers are significant to sustain in the hyper-competitive retail market. Results also flaunted that customers are significantly satisfied with various products & services introduced by organised retailers except a few. The research work would be rationalised for its multiple utilities. The study contributes knowledge & facts about the merchandise (products) & customer services penetrated by organised retailers. The study aspires to reveal the retailing strategies determined by organised retailers. This study also delivers evidence about the dilemmas of customers along with some potential solutions to them. The study ascribes details for the betterment needed in the merchandise (products) & services that clients want. The study also determines diverse components and customer services mandatory to persist the retailing industry. The study additionally functions to deliver the factors that serve towards the superior level of customer satisfaction in the organised retail industry. The study also offers the suggestion to the management of organised retail stores to appraise upon the retailing strategy. The study assists in comprehending the retailing environment, retailing culture and the retail decision process.