Study on Customer loyalty and service

Feasibility of Best Price retail chain

Submitted by : Submitted To :
Anil Kumar – 18ABPM-50 Dr. S. John Mano Raj
 Indian Institute of Plantation management, Bangalore

CERTIFICATE

This is to certify that the CTS report titled “Customer loyalty and service Feasibility of Best
Price retail chain” by Mr.……………….submitted in partial fulfillment of 18ABPM50 is an
original work and no part has been submitted for the award of and degree of diploma.

Comment by the Examiner:

Signature of the examiner: Name of faculty

Date :
 DECLARATION

I hereby declare that the CTS report entitled”……………………….” Submitted for the partial
fulfillment of the requirements of Post Graduate Diploma in management (Agri Business and
Plantation management) of Indian Institute of Plantation Management Bangalore is my original
work and not submitted in partial or full for award of any degree, diploma , fellowship or similar
titles.

uu

Date: Name and Signature of the Student

Place: Enrollment No.

 Acknowledgment

I would like to express my special thanks of gratitude to Dr. S. John Mano Raj (Chairperson,
PGDM-ABPM) as well as Mr. Anjum singh (sales manager in pest price) who give me the
golden opportunity to do this wonderful project on the topic “Customer loyalty and service
feasibility of best price retail chain “which also helped me in doing the research and a gain
insight into retail chain market of Best Price.

Secondly I would also like to thank my parent and friends who helped me a lot in finalizing the
project within the limited time frame.
Table Of Content

Contents
CERTIFICATE ....................................................................................................................................... 2
DECLARATION .................................................................................................................................... 3
Acknowledgment ....................................................................................... Error! Bookmark not defined.
Introduction ............................................................................................................................................ 7
Business Segment ................................................................................................................................ 8
Reseller ............................................................................................................................................... 8
Offices & Institutions (O&I): ................................................................................................................. 9
Research Methodology .......................................................................................................................... 10
Strategies .............................................................................................................................................. 11
Hotels, Restaurants and Caterers (HoReCa): ...................................................................................... 11
TOP BRANDS ......................................................................................................................................... 12
Own Brands ........................................................................................................................................... 14
Shipping Options ................................................................................................................................... 15
Benefits for Members............................................................................................................................ 16
Key requirements to become a member: ........................................................................................... 17
Validity of Membership: .................................................................................................................... 18
Returns Policy........................................................................................................................................ 18
Cancellation and Refunds Policy ............................................................................................................ 19
Cancellation....................................................................................................................................... 19
Refunds ............................................................................................................................................. 19
Privacy Policy......................................................................................................................................... 20
Relationship Management: ................................................................................................................ 23
Conclusion............................................................................................................................................. 24
Annexure............................................................................................................................................... 25
Bibliography/ Reference ........................................................................................................................ 26
EXECUTIVE SUMMARY
 INTRODUCTION
Best price Modem Wholesale is a Business-to-Beusiness cash and carry wholesale format owned
and operated by Walmart India Pvt.Ltd Walmart is the world’s leading retailer renowned for its
efficiency and expertise in logistic supply chain management and sourcing
The mission of Best Price is to “Enable small business to prosper “ We are committed to our mission by
providing thousand of item at the lowest possible price to our members comprising of:

Resellers

Offices and Institutions

Hotel, Restaurant and Caterers

A Best Price store spans over 50000 sq ft offering more than 5000 items across product categories such
as:

Consumer packaged goods

General merchandise

Household Electronics

Appliances

Fresh(Fruits Vegetables Poultry Mutton Fish)

Dairy(Milk and Milk Product)

Many more other products are also available under one roof at everyday low and transparent
price to business members over 90-95% of these products are source locally. This help to keep
cost to a minimum add to the growth of the local economy and create job opportunities.

Walmart India currently operates 20 Best Price ModernWholesale stores in 9 state acrose India
The first wholesale card and carry store was opened in Amritsar in May 2009.
Business Segment
Best price caters to the needs of different business customers by providing relevant product and
solution to individual segment. We cater to three broad categories of business segments:

Reseller

Offices and Institutions

Hotels Restaurants and Caterers

Members get the benefits of wide range of product assortment to suit their needs at competitive
and transparent price great shopping experience and convenient payment and delivery solution.
We also have a well equipped and trained sales team who provide services to business members
at their doorstep to enhance their overall experience as Best Price members

.Reseller:

We cater to multiple sub segments of Resellers like

Kirana store

Electronics and durable outlets

Stationary shop

Fruits and Vegetables outlet

Commodities shop poultry meat and fish shop

Confectionery shop

Apparel &Accessories

Best Price offers relevant categories for these sub segments such as

FMCG food

Non Food

Apparel

Electronic

Stationary
Footwear

Fancy item

Staples

Grocery

Home Appliances

Home Furnishing

Fish meat

Vegetables and Fruits

Dairy &Confectionery and many more

Best Price offers good availability competitive pricing and greater margins to help maximize
business profit for these segments. In addition resellers can also benefit from easy payment and
delivery solution.

Offices & Institutions (O&I):

Best price caters to a large number of O& member across our store that includes several Fortune 500
companies. We provide customized assortment and services to

Offices

School and College

Hospitals

Manufacturing units

Armed Forces

Religious and Cooperative Organizations

Segments mentioned above can avail advantage of wide range of assortment transparent and
competitive price and great member service. We offer relevant assortment such as office supplies
housekeeping product electronics general merchandise and requirements for canteens like FMCG
commodity grocery etc. we also provide customized payment solution to these segments to provide
greater convenience and enhance overall buying experience.

.
Research Methodology
Area of study: Best Price (Meerut UP)

Sample Type: Primary and Secondary data

Primary: Officials

Secondary: Website Research papers

Sampling design:

Sampling method: Random sampling

Sample size: 100

Sampling Unit: Employee of Best Price retail and reseller

Sampling Technique: Interview

Research Tools & software:

Software: Excel, word

Source tool: Reports Website

Statistical tools: Descriptive analysis

Strategies
Hotels, Restaurants and Caterers (HoReCa):
We cater to a large number of Hotel, restaurants, caterers members across 20 existing stores. We have
customized assortment and solutions to meet the needs of multiple sub-segments like

Hotels

Restaurant and dhaba

Caterers

Sweet Shops

Bakers etc

Some of the star hoteliers and caterers are our prestigious members.

Wide relevant assortment good availability of quality products transparent pricing and timely delivery
are some of the benefits that we offer to this segment.

Ho Re Ca members can also avail of our multiple payment options to transact conveniently with us. In
addition our sales term offers door step services to select members to enhance their experience.
TOP BRANDS
Own Brand
Best Price stores have a dedicated Private Label program to meet the unique need of

Reseller

Offices and Institutions

Hotels Restaurants and Caterers

This program has been designed after in-depth and meticulous research on the
demographic structure of our country and its unique need demands and aspirations of
various business segments.

The private label program offerings strengthen the assortment of (Kiranas) and small business to
compete with modern retail. The price structure allows profitability to the members which allows
them to pass on price savings to the end- customers thereby helping them to save money and live
better.

Private label product are sourced in compliance with all legal and regulatory requirements
(conformance to ethical social and environmental norms quality food safety and packaging).

A dedicated team ensures that all the products are rigorously tested for quality and adherence to
the highest standard before they are sold at our stores.

Best Price offers three exclusive brands:

Right Buy

Member’s Mark
The brand promise of the three brands is “high on quality, big on savings” These brands are
exclusively available at all 20 Best Price Modern Wholesale stores across 9 states.

Right Buy: This is an opening price point brand that offers quality products at low price. The
brand offers a promise of “Pay less, Save more” enabling members to enhance their profits. It
offers products across food grocery cleaning aids and more. Some of the best selling products are
bath towels, hand towels, glass cleaner, Assam blend CTC tea leaves, cookies, mustard oil, pet
bottle, toothbrush, paper ream, pen, pencil, files and match boxes.

Member’s Mark: The brand that stands for “selected for quality” offers high levels of quality
equivalent to the leading brands but at very competitive price. These products employ strictest
test standard to ensure high levels of quality. Products include frozen mixed vegetables, frozen
green peas, drinking water, danedar ghee, vacume pack, dry fruit, fruit drink, variants in apple,
orange, guava, mixed fruit juice, CFL light bulbs, executive chairs and apparel/home collection.

Shipping Options
Best Price online offers convenient and reliable shipping option options for its members to deliver
superior shopping experience. Based on their requirements, members can choose from the following
available shipping options:

1) Door Step Delivery

Get your goods delivered to your shipping address through our 3PL and Courier partners

Competitive delivery rates visible online with your cart

All deliveries within city Municipal limits by next day(after realization of payment) Delivery to
up-country locations within 2-3 working days.
 2) In Store Pickup

Members can order online and collect their orders from the best price store (at which order was
placed)

No extra charge for in store pickup

Benefits for Members

To enter and purchase from best price stores both online and offline shopping it is mandatory to
become a member.

How to become a member

As a member, you enjoy several benefits such as:

Wide range of assortments under one roof

Focused assortments for your needs

Every day low price

Transparency in prices

Consistent product availability

Quality assurance
 World class shopping experience

Clean and air-conditioned store

Friendly store associates

Convenient shopping hours

Online Shopping

 Time saving

 Multiple payment option –secured & trusted

 Delivery at doorstep

 Special orders – assortment developed specifically for your business needs

 The most convenient way of e- shopping

Membership can be obtained by providing a copy of a valid business license, issued by the govt
(register for membership). Members need to sign an undertaking that the merchandise purchased
will be used for business purpose only or for self consumption of an office/Institution to become
a member you can visit our membership desk conveniently located at the store entrance and
complete the following requirement:

You can also get in touch with our member support center at +91-120-487-8888

To become a new member and transect online

Key requirements to become a member:

 Valid business license issued by central or state government

 Copy of outward sales invoice or company letterhead to be submitted along with business
license

 Authorized letter in case primary member is not a license holder

 Best price membership from to be filled signed and submitted

 Signed undertaking/declaration agreeing to the use of merchandise for business purpose

only

Posturegistration,utheupermanentucarducanubeucollectedubyudisplayinguGovernmentuofuIndia
uissueduphotouidentificationucarduatutheumembershipudesk.
ValidityuofuMembership:
 Membershipuisuvalidutillutheuexpiryuofutheubusinessulicenseuprovided

 Forulicensesuthatudounotuhaveudefineduvalidity,umembershipuisuvaliduforu10uyearsuf
romutheudateuofusigningutheumembership

 Postuexpiryuofutheumembership,uaumemberucan’tupurchaseufromutheustore,uunlessuth
eureneweduvalidulicenseudocumentuisusubmitteduanduexpiryuextendeduonutheusystem
u(memberuneedsutousubmituaucopyuofurecentuoutwarduinvoiceuforurenewal,uinucaseu
ofulicensesuwithunoudefineduvalidity)

 Membershipuisuterminateduinucaseuanyuofutheusubmittedudocumentsuisufounduinvali
d

ReturnsuPolicy
15uDayuReturn/Replacement.

Anyumerchandiseupurchasedufromuwww.bestprice.inucanubeurefundeduoruexchangeduwithinu
15udaysufromutheudateuofudeliveryu(includingutheudateuofudelivery).uWithutheufollowingue
xceptions

 AlluelectronicuitemsuincludingubutunotulimitedutouCamcordersuanduDigitaluCameras,
uElectronicsuanduAppliances,uDigitaluMusicuPlayers,uPortableuVideouPlayers,uCellup
hones,uComputers/Laptops,uComputeruComponentu&uAccessories

 UnderwearuanduPersonaluApparel

 Anyuproductuwhichuisudueutouexpireuinunextu15udays

 BakeryuProductsuanduProcesseduFooduProducts

Foruanyucomplainturegardingutheuproductuthatuisucovereduunderumanufacturer’suwarranty,u
Memberuisurequestedutoutakeutheuproductutouauthorizeduserviceustationuforurep

AllureturnsuoruexchangeucanubeuprocesseduinutheuBestuPriceuStoreuwhereutheuorderuhasube
enuplaced.

MemberuisurequiredutouvisitutheuBestuPriceuStoreualonguwithugoodsuanduoriginalucopyuofu
invoiceuonuanyustoreuopenudays.

Weuappreciateuyouuforukeepingutheufollowinguinumind:
  Item(s)ubeingureturnedumustubeuinutheiruoriginal,uunuseducondition,uandureturneduwi
thinu15udaysuofureceiptuinutheuoriginalupacking.

 Originalubarcodes,utags,ulabels,uandubrandupackagingushouldunotubeutampereduwith.

 Sachets/upacketsuaccompanyingutheuitemushouldunotubeuopened/utampereduwith.

 Anyuproductuyouuhaveureceivedufreeuasuaupartuofuanyupromotionuorumarketinguacti
vityualonguwithutheuorderuwhichuyouuareureturningumustualsoubeureturneduinuorigin
aluandusaleableucondition.uWeuwillunotubeuableutouprocessutheureturnuifuweuhaveun
otureceivedutheufreeuproductugivenuwithuthatuorder.

 Allureturns/replacementushallubeusubjectutouqualityucheckubyuWalmart.

CancellationuanduRefundsuPolicy
Cancellation
Weureserveutheurightutourefuseuorucanceluanyuorderuforuanyureasonusuchuasulimitationsuon
uquantitiesuavailableuforupurchase,uinaccuraciesuoruerrorsuinuproductuorupricinguinformation
,uoruproblemsuidentifiedubyuOurucredituandufrauduavoidanceudepartment

Weumayualsourequireuadditionaluverificationsuoruinformationubeforeuacceptinguanyuorder.

WeuwillucontactuYouuifualluoruanyuportionuofuYouruorderuisucancelleduoruifuadditionaluinf
ormationuisurequiredutouacceptuYouruorder.uIfuYouruorderuisucancelleduafteruYourcarduhas
ubeenucharged,utheusaiduamountuwillubeureversedubackuinuYouruCarduAccount.

Ordersuplaceduusinguanyuonlineumodeuofupaymentucannotubeucancelleduonceutheupaymentu
hasubeenuapproved.

Inucaseuanuorderuisutoubeucancelledubeforeupaymentuisuprocesseduinucaseuofuanuofflineum
odeuofupaymentu(RTGS,uCashuPickup,uAxisuBank,uPayuatuStore)u),upleaseucontactuouruMe
mberuSupportuCentreu@u120-487-8888ubetweenu10:00uamuandu7:00upm.

Refunds
IfupaymentuhasubeenumadeuthroughuRTGS:uAlluamountushallubeurefundeduthroughucas
huifutheurefunduamountuisulessuthanuRs.5000/-.uRefundsuofumoreuthanuRs.5000/-
uwillubeupaiduviauRTGSuuponusubmittingufollowingudocuments

 ScanneducopyuofuVendoruRegistrationuForm

 Scanneducopyuofucancelleduchequeu(clearlyumentioningumemberunameuanduIFSCuco
de
  ScanneducopyuofuPANuCard

IfutheupaymentuhasubeenumadeuthroughuNet-
banking,uDebitucard,uCredituCarduoruAirteluMoney:uRefunduwillubeuinitiateduwithinu2
uworkingudays,uhoweveruitumayutakeuaroundu7-
10uworkingudaysutougetucrediteduintouYouruaccountufromutheudateuofuinitiationuofutheuref
unduprocess.uWorkingudaysuexcludeuSaturday,uSunday,uNationaluholidaysuanduBankuholida
ys.

Inucaseuyouudounotugeturefunduevenuafteru10uworkingudaysufromutheudateuofuinitiationuof
utheurefunduprocess,upleaseucontactuouruMemberuSupportuCentreu@u0120-487-
8888ubetweenu10:00uamuandu7:00upm.

PrivacyuPolicy
ThisupolicyuappliesutoutheuMemberuinformationuWeucollectuthroughuouruwebsiteuanduinuO
uruBestuPriceuStore.

Informationuweucollect:

WeucollectuYouruinformationuinufromutheufollowingusources:

 InformationuYouugiveuus,usuchuasuduringutransactions,uMemberuservices,usurveys,ua
nduonlineuregistrations.

 IfuYouusignuuputoureceiveuaunewsletter,uweuwillucollectuYouruemailuaddress.

 InformationuautomaticallyucollecteduwhenuYouuvisituouruwebsites,usuchuasuviaucook
ies,uanduinuBestuPriceuStoreuwhenuYouuvisit.

 WeureceiveuandustoreucertainutypesuofuinformationuwhenuYouuinteractuwithuouruwe
bsites,uemails,uanduonlineuadvertising.uOurupurposeuisutouallowutheuwebsitesutouwor
kucorrectly,utouevaluateuuseuofutheuwebsite,uandutousupportuwebsiteuanalyticsuandu
marketingucampaigns.

HowuWeuUseuand/oruDiscloseuYouruInformation

 WeudounotuselluorurentuYourupersonaluinformationutouthirdupartiesuforutheirumarketi
ngupurposesuwithoutuYouruexplicituconsent.uWeuonlyuuseuYouruinformationuasudesc
ribeduinutheuPrivacyuPolicy.
 WeustoreuanduprocessuYouruInformationuonucomputersuthatuareuprotectedubyuphysic
aluasuwelluasutechnologicalusecurityudevices.IfuYouuobjectutouYouruInformationubei
ngutransferreduoruuseduinuthisumannerupleaseudounotuuseutheuSite.

 WeuuseuYourupersonaluinformationutouprovideuproductsuanduservicesuandutousuppor
tucoreubusinessufunctions.uTheseuusesuincludeuorderuoruserviceufulfilment,uinternalub
usinessuprocesses,umarketing,uauthentication,ulossuandufrauduprevention,upublicusafet
yuandulegalufunctions.

 Weumayucombineuallutheuinformationuweucollect.uWeumayudiscloseuYouruinformati
onuwithinuourucorporateufamilyuofuCompanies.

 WeureserveutheurightutoucommunicateuYourupersonaluinformationutouanyuthirduparty
uthatumakesuaulegally-
complianturequestuforuitsudisclosure.uOtherwise,uweuwillunotudiscloseuYouruname,ua
ddressuanduotheruinformationuwhichuidentifiesuYouupersonallyutouanyuthirdupartyuwi
thoutuYouruconsent.uWeureserveutheurightutoucollectugeneraludemographicuanduother
uanonymousuinformationuthatudoesunotupersonallyuidentifyuYou.

 Weuuseucookiesuanduotherutechnologiesusuchuasupixelutagsuanduclearugifsutoustoreu
certainutypesuofuinformationueachutimeuYouuvisituanyupageuonuouruwebsite.uCookie
suenableuthisuwebsiteutourecognizeutheuinformationuYouuhaveuconsentedutougiveutou
thisuwebsiteuanduhelpuusudetermineuwhatuportionsuofuthisuwebsiteuareumostuappropr
iateuforuYouruprofessionaluneeds.uWeumayualsouuseucookiesutouserveuadvertisinguba
nnersutouYou.uTheseubannersumayubeuservedubyuusuorubyuauthirdupartyuonuourube
half.uTheseucookiesuwillunotucontainuanyupersonaluinformation.

 Bestpriceuusesuthird-
partyuserviceuprovidersutouserveuadsuonutheirubehalfuacrossutheuInternetuandusometi
mesuonuthisuWebsite.uTheyumayucollectuanonymousuinformationuaboutuYouruvisitsu
tououruwebsite,uanduYouruinteractionuwithuouruproductsuanduservices.uTheyumayual
souuseuinformationuaboutuYouruvisitsutouthisuanduotheruwebsitesutoutargetuadvertise
mentsuforugoodsuanduservices.uThisuanonymousuinformationuisucollecteduthroughuth
euuseuofuaupixelutag,uwhichuisuindustryustandardutechnologyuusedubyumostumajoru
websites.uNoupersonallyuidentifiableuinformationuisucollecteduoruuseduinuthisuproces
s.uTheyudounotuknowutheuname,uphoneunumber,uaddress,uemailuaddress,uoruanyuper
sonallyuidentifyinguinformationuaboututheuuser.
Data Analysis
Customers

12%
33%
15%
Daily
Weekly
Monthly
Quarterly
40%

Asuweucanuseeuthatutheuweeklyucustomersuareumaximumusoutheustrategyushouldubeumadeu
accordingutouweeklyucustomersuandubyuanalyzingutheudayuonuwhichucustomerustrengthuisu
highutheudiscountsuanduoffersushouldubeuimplemented.
RelationshipuManagement:
 Priceumargin
 Priceunotification
 Onutimeudeliveryuwithuminimumuexpenses
 Onucreditufacility
 Monthlyumeeting
 Giftsuanducoupons
 Rewarduandupromotions
 Eventuinvitations
 Seasonaluandufestivaludiscounts

Customer Retention
25 23
20
20
15
15 13
11
9
10
4 3
5 2 Customer Retention
0

Maximumucustomeruretentionuisuhappeningufromuprice,upaymentueaseuandudeliveryuoperati
onaluease,usoutheumainufocusushouldubeutouimproveutheseuservicesuevenufurtheruandustreng
thenuotheruservicesutoumakeuimpactuonusales.
Conclusion
 Withubiguproductuportfoliouanduqualityuserviceubestbuyuisucommitteduforuprovidingu
goodsuatureasonableumarginuanducompetitiveupriceuwithuavailabilityuinuprominentupl
aces,ualsoucollaboratinguwithutheulocalufarmersuandulocaluhouseholdusmalluscaleubus
inessesutouparticipateuinusellingutheirucommodityuanduproducts.
 Weeklyucustomersuareumaximumusoutheustrategyushouldubeumadeuaccordingutouwee
klyucustomersuandubyuanalyzingutheudayuonuwhichucustomerustrengthuisuhighutheud
iscountsuanduoffersushouldubeuimplemented.
 Goodurelationshipumanagementupracticesuhaveuimpactuonusalesuanduareumostucrucial
uforulongutermubusinessusustenance.
 ForutargetingupotentialupartnersutheyuuseuPixeltagutoucaptureudatauofuuseruwhouvisit
sutheiruwebsitesuthroughucookies.
 Companyufollowsuethicalupracticesuanduneverusellsuinformationutouthirdupartiesuincr
easinguinuloyaltyuandutrustuofuconsumers.
 Policiesuforureturn,ucancellationuanduprivacyupoliciesuareumadeuadheringutoutheunee
dsuofucustomersuandubusinessuwithuaimuofumutualubenefituofubothupartiesuwithinuet
hicalupractices.
 Loyaltyuprograms,uretentionustrategies,uanduacquisitionustrategiesuareumadeurobustus
ouasutougetumaximumupossibleuimpactuonumarket.
 Facilitiesulikeudoorustepudelivery,ushippinguleanumanagement,umembershipumakesuth
isubusinessumodeluaulongutermupartneruforumostuofuit’sucustomers.
 Maximumucustomeruretentionuisuhappeningufromuprice,upaymentueaseuandudeliveryu
operationaluease,usoutheumainufocusushouldubeutouimproveutheseuservicesuevenufurt
heruandustrengthenuotheruservicesutoumakeuimpactuonusales.
Annexure
Questionnaire

TouEmployee:

TouCustomer:
Bibliography/Reference
 http://www.casestudyinc.com/wal-mart-india-case-studyuasuseenuonu24/01/2019
 https://www.slideshare.net/vijurockstar/case-study-on-walmart-and-bharti-transforming-
retail-in-indiauasuseenuonu29/01/2019
 https://www.forbes.com/sites/walterloeb/2013/10/16/walmart-what-happened-in-
india/#207dd4b37d1cuasuseenuonu29/01/2019
 https://www.livemint.com/Companies/jUcZTU1dhABDA5pUwZlegI/WalMart-in-
trouble-over-Best-Price-brand-name.htmluasuseenuonu30/01/2019
 https://www.bestprice.inuasuseenuonu23/01/2019