PERCEPTION OF THE ENGINEERING STUDENTS TOWARDS 7PS OF ORGANISED RETAIL STORES AND UNORGANISED RETAIL STORES, VIJAYAWADA - A COMPARATIVE STUDY

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1 International Journal of Mechanical Engineering and Technology (IJMET) Volume 9, Issue 1, January 2018, pp Article ID: IJMET_09_01_092 Available online at ISSN Print: and ISSN Online: IAEME Publication Scopus Indexed PERCEPTION OF THE ENGINEERING STUDENTS TOWARDS 7PS OF ORGANISED RETAIL STORES AND UNORGANISED RETAIL STORES, VIJAYAWADA - A COMPARATIVE STUDY Dr. B. Kishore Babu Associate Professor, Koneru Lakshmaiah Education Foundation, Vaddeswaram, Guntur, Andhra Pradesh, India A.Tulsi Ram Naveen II nd Year MBA, Koneru Lakshmaiah Education Foundation, Vaddeswaram, Guntur, Andhra Pradesh, India Sampath II nd Year MBA, Koneru Lakshmaiah Education Foundation, Vaddeswaram, Guntur, Andhra Pradesh, India ABSTRACT The total retail trade is divided into organized and unorganized sectors. Over 12 million outlets operate in the country and only 4% of them being bigger than 500 sq ft (46 m 2) in size. Organized retailing refers to trading activities undertaken by licensed retailers, that is, those who are registered for sales tax, income tax, etc. These include the corporate-backed hypermarkets and retail chains, and also the privately owned large retail businesses. Unorganized retailing, on the other hand, refers to the conventional formats of low-cost retailing, for instance, the local kirana shops, owner manned general stores, paan/beedi shops, convenience stores, handcart and pavement vendors, etc. In this article we tried to identify the perceptions of the Engineering students on 7p s of both organized stores and unorganized stores to improve the sales of organized stores. Keywords: organized retail, unorganized retail outlets, 7p s, Perceptions Cite this Article: Dr. B. Kishore Babu, A.Tulsi Ram Naveen and Sampath, Perception of the Engineering Students towards 7ps of Organized Retail Stores and Unorganized Retail Stores, Vijayawada- A Comparative Study, International Journal of Mechanical Engineering and Technology 9(1), pp editor@iaeme.com

2 Perception of the Engineering Students towards 7ps of Organized Retail Stores and Unorganized Retail Stores, Vijayawada- A Comparative Study 1. INTRODUCTION: The organized retail market, unlike the traditional retail market, is highly structured and seeks to provide economy to the consumers. The total value of the Indian retail sector is estimated over Rs. 1,500,000cr of which the organized sector accounts for only around 5%. The organized retail industry is moderately a novice, which is witnessing high growth. The retail sector is not just limited to retailing groceries and textiles. Even service set-ups like restaurants, hairstyle salons and automobile service stations are all considered being part of the retail sector. Retail marketing strategy is statement, which defines the point of reference of the firm in terms of the target market that it wishes to cater to, the retail format that it proposes to build, and the retail mix variables that it decides to gain vital competitive advantage and sustain its position in the retail market. The retail format takes into consideration factors like the nature of the merchandise, assortment, the services offered, objectives of the promotional campaigns, pricing, store design and visual merchandising, location and number of stores, etc to formulate a good market strategy, the retailer should first understand its target market and its retail format. The retail market strategy is a statement worked out of identify a) The retailers target market b) The specific format planned to be used by the retailer to satisfy the target market s needs c) Work out the bases upon which to build up sustainable competitive advantage. To comprehend the purchasing prototypes of customer, it is very significant to understand the customers nature and examine the external factors that influence their buying behavior. The increasing value perception among customers is putting more pressure on the retailer to offer merchandise of superior quality that is valuable to the consumer s eye. Retailer explores investment opportunities after analyzing the customer s needs, aspirations, shopping preferences and buying behavior. In making good retail marketing strategy, building sustainable competitive advantage, achieving strategic positioning and retail strategic planning process and evolution and trends of retail organization 7 p s will play a crucial role. Based on 7p s customer perception will change. RESEARCH DESIGN AND METHODOLOGY STATEMENT OF THE PROBLEM The strategic plan of a firm should be formulated by evaluating the external environment (Perceptions of young customers )affecting the working of the firm and capitalizing on the opportunities available after assessing its own strengths and weaknesses. However, no strategy can be effective, if it is not implemented properly. Thus retailers should take steps to put into operation the strategy effectively and monitor it from time to time by incorporating a strategy with properly using 7p s. Like product, price, place promotion, people, process, physical evidences OBJECTIVES OF THE STUDY To study the 7P S of organized retail stores and unorganized retail outlets. To study the perceptions of engineering students towards 7 p s of both organized retail outlets and unorganized retail outlets. To suggest different strategies to attract more youth (ENGINEERING STUDENTS) by organized stores and unorganized stores editor@iaeme.com

3 Dr. B. Kishore Babu, A.Tulsi Ram Naveen and Sampath 2. RESEARCH METHODOLOGY RESEARCH METHOD: DESCRIPTIVE METHOD Sampling Technique: A cluster sampling method is used in selecting participants. Sample Size: 300 engineering students are chosen who purchased goods from organized stores and unorganized stores DATA COLLECTION: The data is collected from both primary and secondary sources; the primary sources are collection of opinions and behaviors of the population using a structured questionnaire and secondary sources like previous researches in this field, various journals, books and websites. INSTRUMENTS USED: STRUCTURED QUESTIONNAIRE. STATICTICAL TOOL: The data was analyzed using SPSS and Ms Excel and presented in inform of chart and tables. The next chapter presents all the results of this study arranged as per the research questions. 3. DATA ANALYSIS AND INTERPRETATION 1. Place of Birth: The frequency distribution of the respondents in terms of their place of birth is presented in the table No.1 SL. No. Place Table 1 Place of birth Male Number Female Total Percent 1 Vijayawada Rural Vijayawada Urban Total Source: field survey An analysis of the table shows the place of birth of the respondents. Out of 300 respondents majority 210(70.0) place of birth was urban area and only 90(30.0%) respondents birth place is rural area editor@iaeme.com

4 Perception of the Engineering Students towards 7ps of Organized Retail Stores and Unorganized Retail Stores, Vijayawada- A Comparative Study PLACE OF BIRTH OF RESPONDENTS Urban, Rural, 90 Urban, 70 Rural Urban 50 Rural, 30 0 Number Percent Source: Table 1 2. Religion and Community: Religion is one of the social variables. It influences both cultural and social phenomenon. Similarly community is another social variable. In a country such as India, there are many religions and communities. Table 2 Religion of the Respondents SL. No Religion Number Percent 1 Hindu Muslim Christian Others Total Source: Field survey An analysis of the table shows the religion of the respondents. Out of 300 respondents majority 178(59.3) are Hindus followed by 50(16.7) are Muslims, 38(12.7) are Christians. The study represents all major religions in the country state. The same is also presented in diagram number 2. Religion of the Respondents in the study area 13% 11% Hindu 17% 59% Muslim Christian Others Source: Table no editor@iaeme.com

5 Dr. B. Kishore Babu, A.Tulsi Ram Naveen and Sampath 3. Buyers Preference: The frequency of distribution of buyers buying preferences is shown in Table 3 Table 3 Buyers purchasing preference (Organized & unorganized outlets) in the study area SL. No. Response Unorganized organized total 1 First preference 214(71.3) 86(28.7) 300 Source: Field survey Note: Figures in the parenthesis represent Percentage Figures in the parenthesis with * represent Valid Percentage An analysis of the table shows that respondent buying goods preferences. Out of the 300 respondents majority 214(71.3%) respondents first preference is unorganized retail stores followed by 86(28.7) respondents first preference is organized retail outlets. 4. Analysis of the opinion of the respondents on store attributes (Convenience, store atmosphere and display methods) in organized sector and unorganized sector. Table 4 The respondents on store attributes (Convenience, store atmosphere and display methods) in organized sector and unorganized sector. Response Store attributes in Unorganized sector Stores attributes in organized sector Convenience Excellent 65(21.6) 21.9* Good 124(41.3) 41.8* Average 80 (26.6) 27* Store atmosphere and ambience 58(19.3) 19.5* 66(22.0) 22.3* 72 (24.0) 24.3* Display Methods 58(19.3) 19.5* 100 (33.3) 33.7* 72 (24.0) 24.3* Convenience 158(52.6) 53.3* Store atmosphere and ambience 95(31.6) 32.0* 90 (30.0) 30.4* 151(50.3) 51* 37(12.6) 12.8* 48 (16) 16.2* Display methods 88 (29.3) 29.7* 108 (36.0) 36.4* 95 (31.66) 32.09* Below 100 (33.3) 66 (22.0) 27 (9) 9.12* 10 (3.33) 3.37* 2(0.7) 0.7* 5(1.6) 1.6* average 33.7* 22.3* 296(98.7) 296(98.7) 296(98.7) 296(98.7) Total 296(98.7) 100* 296(98.7) 100* 100* 100* 100* 100* NR 4(1.3) 4(1.3) 4(1.3) 4(1.3) 4(1.3) 4(1.3) Total 300(100) 300(100) 300(100) Source: Field survey An analysis of the table shows that majority of the respondents 158(52.6%) said that convenience is excellent in organized retail stores compared to convenience in unorganized retail stores. Only 65(21.6%) respondents expressed that convenience in unorganized retail stores are excellent. 31.6% of the respondents expressed that Store ambience is excellent in organized retail outlets. Only 19.3% of the respondents are expressed that store ambience is excellent in unorganized retail outlets. Only 65(21.6%) respondents expressed that convenience in unorganized retail stores are excellent. 29.3% of the respondents expressed that display methods is excellent in organized retail outlets. Only 19.3% of the respondents are expressed that display methods are excellent in unorganized retail outlets editor@iaeme.com

6 Perception of the Engineering Students towards 7ps of Organized Retail Stores and Unorganized Retail Stores, Vijayawada- A Comparative Study 5. Analysis of the opinion of the respondents on product attributes (quality of products, price and range of products) in organized sector and unorganized sector. Table 5 The respondents on product attribute (quality of products, price and range of products) in organized sector and unorganized sector. Response Excellent Good Product attributes of unorganized sector Quality of Products 45(15.0) 15.1* 64(21.3) 21.4* 168(56.0) 56.3* Price 58(19.3) 19.5* 50(16.6) 16.7 Range of Products available 59(19.6) 19.7* 86(28.6) 28.8* 134(44.6) 44.9* Product attributes when compared to organized sector Quality of Products 68(22.6) 22.8* 100(33.3) 33.5* Price 14(4.7) 4.7* 16(5.3) 5.3* Range of Products available 158(52.6) 53.0* 90(30.0) 30.2* 45(15.0) 15.1* Average 150(50.0) 134(44.7) 118(39.3) 50.3* 45.0* Below 40(13.3) 134(44.7) 21(7.0) 7.0* 19(6.3) 6.3* 12(4.1) average 13.4* 45.0* 5 (1.6) 1.6* Total (99.3) 298(99.3) 100* 298 NR 2(0.7) 2(0.7) 2(0.7) 2(0.7) 2(0.7) 2(0.7) Total Source: field survey An analysis of the table shows that majority of the respondents 68(22.6%) said that quality of products are excellent in organized retail stores compared to quality of products in organized retail stores. Only 45(15.0%) respondents expressed that quality of products in unorganized retail stores are excellent. 58(19.3%) of the respondents expressed that price of the products are excellent in unorganized retail outlets. Only 4.7% of the respondents are expressed that prices of the products are excellent in organized retail outlets.. 158(52.66%) respondents expressed that range of products available at organized retail stores are excellent compared to unorganized retail stores % of the respondents expressed that range of products available are excellent in unorganized retail outlets. 6. Analysis of the opinion of the respondents on promotional mix attributes (advertising marketing strategies and sales promotion techniques) in organized sector and unorganized sector. Table 6 The respondents on promotional mix attribute (advertising marketing strategies and sales promotion techniques) in organized sector and unorganized sector. Response Promotional Mix attributes to Unorganized sector Advertising Marketing strategies Sales promotion techniques Promotional Mix attributes to organized sector Advertising Marketing strategies Sales promotion techniques Excellent 33 (11.0) 11.3* 46(15.3) 15.4* 82 (27.3) 27.5* 90 (30.0) 30.2* Good 33 (11.0) 11.3* 50(16.6) 16.7* 108(36.0) 36.2* 124(41.3) 41.6* editor@iaeme.com

7 Dr. B. Kishore Babu, A.Tulsi Ram Naveen and Sampath Average 124(41.3) 41.6* 110 (36.7) 36.9* 66(22.0) 22.7* 80(26) 26.8* Below average 108(36.0) 36.2* 92(30.7) 30.9* 42(14) 14.1* 4(1.4) Total 298(99.3) 100* 298(99.3) 100* 298(99.3) 100* 298(99.3) 100* NR 2(0.7) 2(0.7) 2(0.7) 2(0.7) Total 300(100) 300(100) 300(100) 300(100) Source: field survey An analysis of the table shows that majority of the respondents 82(27.3%) are expressed that advertising and sales promotion techniques are excellent in organized retail stores when compared to unorganized retail outlets. Only 11.0% of the respondents are expressed that advertisements and sales promotion techniques are excellent in unorganized retail stores. 7. Analysis of the opinion of the respondents on location, people and process in organized sector and unorganized sector. Table 7 The respondents on location, people and process in organized sector and unorganized sector. Response Location, people and process in Unorganized sector Location, people and process in organized sector LOCATION PEOPLE PROCESS LOCATION PEOPLE PROCESS Excellent 118(39.3) 134(44.7) 158(52.6) 58(19.3) 59(19.6) 45(15.0) 15.1* 45.0* 53.0* 19.5* 19.7* Good 100(33.3) 33.5* 134(44.7) 90(30.0) 50(16.6) 86(28.6) 64(21.3) 21.4* 45.0* 30.2* * Average 68(22.6) 22.8* 16(5.3) 5.3* 45(15.0) 150(50.0) 134(44.6) 168(56.0) 56.3* 15.1* 50.3* 44.9* Below 40(13.3) 12(4.1) 14(4.7) 4.7* 5 (1.6) 1.6* 21(7.0) 7.0* average 13.4* 19(6.3) 6.3* Total 298(99.3) 298(99.3) 100* NR 2(0.7) 2(0.7) 2(0.7) 2(0.7) 2(0.7) 2(0.7) Total Source: field survey An analysis of the table shows that majority of the respondents 118(39.3%) are expressed that location of the unorganized stores are very convenient when compare to stores in organized stores. Only 15.0% of the respondents are expressed that organized retail outlets are located at convenience location. An analysis of the table shows that majority of the respondents 134(44.7%) are expressed that people in unorganized stores are very friendly and courtesies when compare to stores in organized stores. Only % of the respondents are expressed that people in organized retail outlets are excellent. An analysis of the table shows that majority of the respondents 158(52.6%) are expressed that process in unorganized stores are very quick when compare to stores in organized stores. Only % of the respondents are expressed that process in organized retail outlets are excellent editor@iaeme.com

8 Perception of the Engineering Students towards 7ps of Organized Retail Stores and Unorganized Retail Stores, Vijayawada- A Comparative Study 8. Analysis of the opinion of the respondents on credit facility, after sales service and CRM activities in organized sector and unorganized sector. Table 8 The respondents on credit facility, after sales service and CRM activities in organized sector and unorganized sector. Response Excellent Good Credit facilities, after sales services, recognition in unorganized sector Credit facility 108(36.0) 36.2* 82 (27.3) 27.5* After sales servicee 150(50.0) 50.3* 58(19.3) 19.5* 50(16.6) (13.3) 13.4* CRM 158(52.6) 53.0* 90(30.0) 30.2* Credit facilities, after sales services, recognition in organized sector Credit facility 50(16.6) 16.7* 46(15.3) 15.4* After sales service 134(44.7) 45.0* 134(44.7) 45.0* CRM 59(19.6) 19.7* 86(28.6) 28.8* 66(22.0) 45(15.0) 110 (36.7) 134(44.6) Average 16(5.3) 5.3* 22.7* 15.1* 36.9* 44.9* Below 92(30.7) 42(14) 14.1* 5 (1.6) 1.6* 14(4.7) 4.7* 19(6.3) 6.3* average 30.9* 298(99.3) 298(99.3) 298(99.3) Total * 100* 100* NR 2(0.7) 2(0.7) 2(0.7) 2(0.7) 2(0.7) 2(0.7) Total 300(100) (100) Source: field survey An analysis of the table shows that majority of the respondents 108(36.0%) are expressed that CREDIT facilities at the unorganized stores are very excellent when compare to stores in organized stores. Only % of the respondents are expressed that organized retail outlets are excellent credit facilities.. An analysis of the table shows that majority of the respondents 150(50.0%) are expressed that after sales service are excellent in unorganized stores when compare to stores in organized stores. Only 44.70% of the respondents are expressed that after sales services are excellent in organized retail outlets. An analysis of the table shows that majority of the respondents 158(52.6%) are expressed that CRM practices in unorganized stores are very excellent when compare to stores in organized stores. Only % of the respondents are expressed that CRM practices in organized retail outlets are excellent. 4. FINDINGS Majority of the respondents in study area 210(70.0) place of birth was urban area and only 90(30.0%) respondents birth place is rural area Majority of the respondents in the study area 178(59.3) are Hindus followed by 50(16.7) are Muslims, 38(12.7) are Christians. The study represents all major religions in the country state. Majority of the respondents in study area 79(26.51%) studied intermediate, followed by 71(23.82) post-graduation and 61 (20.46) is graduation. Majority 64(23.5%) respondents in the study area are occupation is private employment, followed by 48 (17.8%) are house wife. 44(16.2%) government employees editor@iaeme.com

9 Dr. B. Kishore Babu, A.Tulsi Ram Naveen and Sampath Majority of the respondents in the study area112(40.6%) are earning an income 3 lakhs 5 lakhs, 88 (31.9%) earning between 1 lakhs 3 lakhs, 34(12.3%) between 5 lakhs 7 lakhs. The average annual income earned by the respondents is Rs. 3.8 lakhs. S.D. is 2.26 and mode is 3.47 Majority 214(71.3%) respondents first preference is unorganized retail stores followed by 86(28.7) respondents first preference is organized retail outlets. Majority of the respondents 158(52.6%) said that convenience is excellent in organized retail stores compared to convenience in unorganized retail stores. Only 65(21.6%) respondents expressed that convenience in unorganized retail stores are excellent 31.6% of the respondents expressed that Store ambience is excellent in organized retail outlets. Only 19.3% of the respondents are expressed that store ambience is excellent in unorganized retail outlets. Only 65(21.6%) respondents expressed that convenience in unorganized retail stores are excellent. 29.3% of the respondents expressed that display methods is excellent in organized retail outlets. Only 19.3% of the respondents are expressed that display methods are excellent in unorganized retail outlets. Majority of the respondents 68(22.6%) said that quality of products are excellent in organized retail stores compared to quality of products in organized retail stores. Only 45(15.0%) respondents expressed that quality of products in unorganized retail stores are excellent. 58(19.3%) of the respondents expressed that price of the products are excellent in unorganized retail outlets. Only 4.7% of the respondents are expressed that prices of the products are excellent in organized retail outlets. 158(52.66%) respondents expressed that range of products available at organized retail stores are excellent compared to unorganized retail stores % of the respondents expressed that range of products available are excellent in unorganized retail outlets. Majority of the respondents 82(27.3%) are expressed that advertising and sales promotion techniques are excellent in organized retail stores when compared to unorganized retail outlets. Only 11.0% of the respondents are expressed that advertisements and sales promotion techniques are excellent in unorganized retail stores. Majority of the respondents 118(39.3%) are expressed that location of the unorganized stores are very convenient when compare to stores in organized stores. Only 15.0% of the respondents are expressed that organized retail outlets are located at convenience location. Majority of the respondents 134(44.7%) are expressed that people in unorganized stores are very friendly and courtesies when compare to stores in organized stores. Only % of the respondents are expressed that people in organized retail outlets are excellent. Majority of the respondents 158(52.6%) are expressed that process in unorganized stores are very quick when compare to stores in organized stores. Only % of the respondents are expressed that process in organized retail outlets are excellent. Majority of the respondents 108(36.0%) are expressed that CREDIT facilities at the unorganized stores are very excellent when compare to stores in organized stores. Only % of the respondents are expressed that organized retail outlets are excellent credit facilities editor@iaeme.com

10 Perception of the Engineering Students towards 7ps of Organized Retail Stores and Unorganized Retail Stores, Vijayawada- A Comparative Study Majority of the respondents 150(50.0%) are expressed that after sales service are excellent in unorganized stores when compare to stores in organized stores. Only 44.70% of the respondents are expressed that after sales services are excellent in organized retail outlets. Majority of the respondents 158(52.6%) are expressed that CRM practices in unorganized stores are very excellent when compare to stores in organized stores. Only % of the respondents are expressed that CRM practices in organized retail outlets are excellent. 5. SUGGESTIONS The location of retail outlet plays a very vital role. It is suggested that organized retail outlets are not in convenient location when compare to unorganized retail outlets. That s why it is suggested that organized retail outlets will be established nearer to the customers. The customers perception is organized retail stores are charging high price for the products when compare to unorganized retail outlets. So it is suggested that prices of the products in organized retail outlets will be made equal to the prices of unorganized retail outlets. CRM activities and after sales services of organized retail outlets are not excellent when compared to unorganized retail outlets. So organized retail outlets will be concentrate on this areas. The credit facilities will be excellent in unorganized retail outlets when compared to organized retail outlets. That s why organized retail stores has to concentrate on this area. It is suggested that unorganized retail outlets has to improve range of products and quality of products. 6. CONCLUSION This study investigated the perceptions engineering students on 7 P S of organized retail outlets and unorganized retail outlets in Vijayawada, Andhra Pradesh and to determine what influence the marketing mix, store image and service quality have on these perceptions. Further, the study has shown those engineering students perceptions of customers with reference to product variety, quality and availability, price, location, credit facility, after sales services in stores in organized sector and those of independent stores in unorganized sector. We reviewed academic research on five main dimensions of store image access, in store atmosphere, price and promotion, cross-category assortment, and within category assortment and integrated the major findings with lessons from branding research. Consumer( Engineering students) perceptions of those dimensions of retailer image can help develop strong and unique retail brand associations in the minds of consumers feel they gain from influence the utilitarian and hedonic benefits that consumers feel they gain form retailer patronage and ultimately the price premium consumers will pay, the extra effort they will be willing to expend in order to shop the retailer, and the share of trips, share of requirement, and loyalty that the retailer enjoys We conclude that the organized retail stores must concentrate in areas like price, after sales service and credit facilities to attract more number of customers. The unorganized retail outlets have to maintain clean floors, store ambience and they should provide more varieties of brands and the total number of products. They should provide more branded products than private label brands editor@iaeme.com

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