Consumer Preference

ACKNOWLEDGEMENT Survey is an excellent tool for learning and exploration. No classroom routine can substitute which is possible while working in real situations. Application of theoretical knowledge to practical situations is the bonanzas of this survey. Without a proper combination of inspection and perspiration, it’s not easy to achieve anything. There is always a sense of gratitude, which we express to others for the help and the needy services they render during the different phases of our lives.

I too would like to do it as I really wish to express my gratitude toward all those who have been helpful to me directly or indirectly during the development of this project. First of all I wish to express my profound gratitude and sincere thanks to my esteemed learned Director Dr. B. S. Bhatia, Director RIMT, Mandi Gobindgarh, who allowed me to conduct the survey. I would like to thank my professor Ms. Manjari who was always there to help and guide me when I needed help. His perceptive criticism kept me working to make this project more full proof. I am thankful to him for his encouraging and valuable support.

Working under him was an extremely knowledgeable and enriching experience for me. I am very thankful to him for all the value addition and enhancement done to me. No words can adequately express my overriding debt of gratitude to my parents whose support helps me in all the way. Above all I shall thank my friends who constantly encouraged and blessed me so as to enable me to do this work successfully. INTRODUCTION In this research I have survey the product performance and buying behavior of two famous brands of chocolates – Nestle and Cadbury, which are consumed by people of allages.

During this research I have interacted with people of “Ambala”. After this research I came to know how people perceives these products on the variables like price, quality, advertisement, satisfaction, taste, packaging, brand loyalty etc. I also came to know which particular brand of chocolate is most preferred by people of different age groups. In this research I have surveyed that how frequently and how much chocolate they consume, whether they buy small, big or family pack. Trend of ongoing changes in their likings has been shown in the report. In this report I have tried to explain the entire research and facts product wise.

CONSUMER PREFERENCE All marketing starts with the consumer. So consumer is a very important person to a marketer. Consumer decides what to purchase, for whom to purchase, why to purchase, from where to purchase, and how much to purchase. In order to become a successful marketer, he must know the liking or disliking of the customers. He must also know the time and the quantity of goods and services, a consumer may purchase, so that he may store the goods or provide the services according to the likings of the consumers. Go neare the days when the concept of market was let the buyer’s beware or when the market was mainly the seller’s market.

Now the whole concept of consumer’s sovereignty prevails. The manufacturers produce and the sellers sell whatever the consumer likes. In this sense, “consumer is the supreme in the market”. As consumers, we play a very vital role in the health of the economy local, national or international. The decision we make concerning our consumption behavior affect the demand for the basic raw materials, for the transportation, for the banking, for the production; they effect the employment of workers and deployment of resources and success of some industries and failures of others. Thus marketer must understand this. Preference or “taste”) is a concept, used in the social sciences, particularly economics. It assumes a real or imagined “choice” between alternatives and the possibility of rank ordering of these alternatives, based on happiness, satisfaction, gratification, enjoyment ,utility they provide. More generally, it can be seen as a source of motivation. In cognitive sciences, individual preferences enable choice of objectives/goals. The study of the consumer preference not only focuses on how and why consumers make buying decision, but also focuses on how and why consumers make choice of the goods they buy and their evaluation of these goods after use.

So for success of any company or product promotion it is very necessary to depart its concentration towards consumer preference. SCOPE OF THE STUDY As learning is a human activity and is as natural, as breathing. Despite of the fact that learning is all pervasive in our lives, psychologists do not agree on how learning takes place. How individuals learn is a matter of interest to marketers. They want to teach consumers in their roles as their roles as consumers.

They want consumers to learn about their products, product attributes, potential consumers benefit, how to use, maintain or even dispose of the product and new ways of behaving that will satisfy not only the consumer’s needs, but the marketer’s objectives. The scope of my study restricts itself to the analysis of consumer preferences, perception and consumption of Cadbury and Nestle Chocolates. There are many other brands of chocolates available but my study is limited to two major players of chocolates leaving behind the others. The scope of my study is also restricts itself to Ambala region only.

OBJECTIVES OF THE STUDY This project is based on the comparative study consumer behavior towards Nestle and Cadbury chocolates. Objectives of the study are: * The other objective is to know about the customer satisfaction levelassociated with the product and the customer preference level. * To increase customer satisfaction and recapture the market share by fulfilling the customer needs. * To study the factors affecting the consumption pattern. LIMITATIONS OF THE STUDY In attempt to make this project authentic and reliable, every possible aspect of the topic was kept in mind.

Nevertheless, despite of fact constraints were at play during the formulation of this project. The main limitations are as follows: * Due to limitation of time only few people were selected for the study. So the sample of consumers was not enough to generalize the findings of the study. * The main source of data for the study was primary data with the help of self-administered questionnaires. Hence, the chances of unbiased information are less. * People were hesitant to disclose the true facts. * The chance of biased response can’t be eliminated though all necessary steps weretaken to avoid the same. Chocolates Chocolates!

Chocolates! Every body has a liking for them, be they in the form of bar Or a tiny little gem, Or shaped like a rectangle, Or a sphere, a brick or an éclair. For chocolate lovers it is fun, To have them during rain, breeze or sun. They are white and brown in color, And taste sweet and bitter Some have them in a glass of cold coffee, or in the form of a toffee. Some eat them when they are sad Some relish them when they are happy or have sweet dreams, But I feel, to have chocolates We don’t need a reason, ‘Cause we can have it Anytime, any season! RESEARCH METHODOLOGY This chapter describes the methodology of the study.

This project is based on information collected from primary sources. After the detailed study, an attempt has been made to present comprehensive analysis of consumption of Cadbury and nestle chocolatesconsumed by the people. The data had been used to cover various aspects likeconsumption, consumer’s preference and customer’s satisfaction regarding Cadbury and Nestle chocolates. In collecting requisite data and information regarding the topic selected, I went to the residents of Ludhiana and collected the data. Survey design: The study is a cross sectional study because the data were collected at a single point of time.

For the purpose of present study a related sample of population was selected on the basis of convenience. Sample Size and Design: A sample of 100 people was taken on the basis of convenience. The actual consumers were contacted on the basis of random sampling. Research Period: Research work is only carried for 2 or 3 weeks. Research Instrument: This work is carried out through self-administered questionnaires. The questions includedwere open ended, dichotomous and offered multiple choices. Data Collection: The data, which is collected for the purpose of study, is divided into 2 bases: Primary Source: The primary data comprises information survey of “Comparative study of consumer behavior towards Nestle and Cadburychocolates”. The data has been collected directly from respondent with the helpof structured questionnaires. * Secondary Source: The secondary data was collected from internet,References from Library. Data Analysis: The data is analyzed on the basis of suitable tables by using mathematical techniques. The technique that I have used is bar technique. http://www. scribd. com/doc/8201172/study-of-consumer-behaviour-towards-nestle-and-cadbury-choclates