Subject: Submission of project report on "I Consumer Purchase Intention in the Superstore context of Bangladesh – An Analysis". The main objective of this report is to evaluate consumer purchase intention related to superstores in Bangladesh.
Specification of Industry
Clothing and apparel, banking, hotels, real estate, power and energy, and other successful business sectors are represented by this group. Khulshi Mart started operations on 10 February 2006 in Chittagong. The Khulsi Mart supermarket is owned by Mart Promoters Ltd. The aim of this supermarket is to provide Chittagong residents with high quality products and shopping options. Food, vegetables, groceries, cleaning products, household items and other items are among their product categories.
Vegetables, Meat, Fish, Fruits, Cleaning Needs, Home Supplies, Life, Personal Care and other products are available. Almas Super Shop has more than 5 locations in Dhaka. It has three locations in Dhanmondi, one in Utt ara, and one in the Bashundhara City Shopping Complex. Household, toiletries, personal care, health and hygiene, childcare, tea, outfits, gift items, chemicals and other products are available.
Size, Trend& Maturity of the Industry
Meena Bazar is also known as one of the most reliable food suppliers in the country. Due to the threat of violence, the middle class, Agora's target group, cannot drive to the shops. Logistics Issue: One of the most critical issues in the Bangladeshi industry is supply chain logistics.
One of the most important, according to the Ehrenberg-Bass Institute, is that brand distinctiveness helps with mental and physical availability. Consumer group distinctiveness is a set of characteristics and features that make the brand unique and distinctive in the eyes of the consumer, allowing it to distinguish itself from its competitors. Your branding strategy should include developing a positioning that takes advantage of the available market space and appeals.
For distinctive 3 the question was: 'The brand distinguishes itself from other brands'. Of the 6 people, 3 are neutral about this. In Con Dis 3 the question was: “The supershop community has a distinctive character compared to their communities”. In BQ 3 the question was: “The superstore consistently outperforms other superstores.
The question was "The supermarket has a rich history." To solve this problem, the brand should create a strong image.
Political, Legal and Regulatory factors
Technological Factors
Superstore management software can help create invoices, product categories, purchase orders, invoice lists, payment slips, and print barcode labels. A supermarket management software system configured for a warehouse, store or product line helps generate revenue for your business. Supershop management manages operating costs and provides better insights. BD Soft Lab is the leading developer and provider of Super Shop Management software and tools in Bangladesh for excellent Super Shop management.
Additionally, BD Soft Lab Supermarket Software can manage invoices and accounts, track payments and handle all sales and purchasing activities based on MRP. The supermarket software from BD Soft Lab can help you organize your entire business because it has a productive expiration management system and inventory tracking capabilities. Strengthen your business by streamlining your finances and accounting from invoicing to balance with an integrated accounting solution that covers all your finances.
Industry Rivalry
All these retail chains have an online and offline presence in the lifestyle industry. Online stores that sell lifestyle items include Daraz.com, Ekhaney.com, Outtlet.com, Bagdoom.com and Itseba.com.
Summary of Challenges and Opportunities
Industry Competition and Threat of Substitutes: Supermarkets face fierce competition in online and offline markets. In addition, there are grocery stores that sell the same product or sell it at a lower price. However, many customers believe that the meat, fish and vegetables in the store are not fresh.
As a result, the vegetables, fruits, fish and meat offered in supermarkets are more recent than those in the dirty environment of the traditional market.
Future Opportunity
The largest retail companies in the world will be drawn to Bangladesh if this industry grows successfully there. If these retail behemoths visit Bangladesh, they will increase both the size of the country's superstores and the overall retail market. Traditional stores continue to thrive in the market, even as major global retailers increasingly move to e-commerce.
Their ability to support both physical and online platforms will allow them to serve more customers. Many new forms of technology, such as artificial intelligence for price prediction and trial allocation for assortment optimization, will be adopted by the retail industry.
Purchase Intention
Content consumption data or patterns are extremely useful as the intent data derived from them acts like a digital fingerprint as it is mapped through specific key search engine terms.
Distinctiveness
Customers and potential customers can connect with your brand instantly and without leaving their homes. Not because it increases brand appreciation, but because it makes the brand more easily identifiable and memorable.
Consumer Group Distinctiveness
Distinctive brand assets make you stand out in even the most crowded spaces, conveying a depth of understanding, background knowledge and reputation in a single move. Unlike differentiation, which helps a brand stand out from competitors through a unique selling proposition or superior offering, distinctive brands are well-known regardless of offerings. Create a positioning that exploits opportunity space and resonates with buyers as part of your brand strategy effort Because positioning is the "master strategy" that drives all of the organization's activities and in today's competitive and disruptive marketplace, weak or soft (meaningless) positioning is less effective .
According to the theory of optimal distinctiveness, people strive to balance two opposing fundamental needs: assimilation and similarity to others (i.e., the need to belong) and differentiation and distinctiveness from others (i.e., the need to be unique). are). One way to achieve this optimal balance is through group membership; the need for assimilation can be satisfied by identifying with the in-group, and the need for distinctiveness can be satisfied by distinguishing the in-group from the group.
Brand Quality
Distinctiveness of brand identity elements (logo, color palettes, typography styles, advertising style, etc.) can be assessed quantitatively. This step begins by creating a brand identity design brief based on the brand strategy/positioning, which will serve as your guidepost for developing a number of elements. A strong brand identity emerges when brand strategy (new or renewed) grounds and informs the development of brand assets and connects strategy with execution.
Your brand's identity is its distinct look, feel, mark, words or combination that creates its image, drives awareness and differentiates it from competitors. Many brands with excellent products and services have not realized their full potential due to a lack of a comprehensive brand strategy and brand identity effort. Growth Works strives to provide you with long-term branding strategy and design solutions that make it easy to blend meaningful differentiation and distinctiveness for brands that customers can't help but remember.
Organizational Associations
Nowadays a company must be operationally perfect and accept risks, because uncertainty is a sign of our times.
Image Consistency
Integrating consumers into the product co-creation process is one of the new business models. According to existing research, customer satisfaction and customer loyalty are the most widely used predictors of consumer behavioral intention. Companies can infer the potential impact of brand image on customer satisfaction by identifying the perceptual difference toward a brand among existing customers and nonusers of the brand, because product performance is an important component of brand image.
Brand image has a significant impact on customer satisfaction, especially in the E-banking, landline, mobile, banking and supermarket industries.
Combined effect of all these variables on consumer purchase intention
The distinctiveness of brand identification components, such as logos, color schemes, typographic designs, advertising styles, etc., can be assessed objectively. The first phase in this process is to create a brand identity design brief based on the brand strategy and positioning. A strong brand identity is created when brand strategy (new or revised) supports and informs the creation of brand assets, connecting strategy and execution.
Many brands with great products and offerings have not been able to realize their full potential due to the lack of a thorough brand strategy and commitment to brand identity. Consumers' attitude towards your brand is influenced by its consistent, clear and solid brand image. Companies could infer the potential impact of brand image on customer satisfaction by analyzing the perceived difference between current and non-users of the brand, as product performance is an important component of brand image.
Findings
Out of 6 people, 4 people are neutral about con dis 1 and 3 people are neutral about con dis 3. In image consistency, almost all people agree and strongly agree, but in IC1 two people disagree. agree and 1 is neutral. So here the percentage is lower and needs change.
Recommendation
Since maximum people are neutral about consumer sub-distinctiveness 1 and 3, there should be a change for improving the superstore quality. In Con Dis 1 the question was "There is something that makes superstore shoppers unique compared to other brand shoppers." Customers seek comfort, joy and satisfaction in their lives, and they achieve this in part through the goods they buy. To make distinctive character, a brand or superstore must make a distinctive quality to their business.
By providing opportunities to its consumers with good product quality and maintaining it, the brand will become recognizable. In the consistency of the picture, among the four questions, 2 people disagree, and one person is neutral about IC 1. Finally, we can recommend that to improve the super store, the brand can adapt the messages to customers, tell the story behind the products, add a unique Experience, educate employees about products, think mobile, use coupons and deals creatively, revisit, traditional store layout, offer some online options.
Conclusion
In addition to giving a discount to the customer and taking care of the customer's choice, they can also be effective for the success of the brand.
