Retail Marketing & Consumer Satisfaction of Home Furniture: A study on Hatil Furniture

1.1 Introduction

The furniture industry of Bangladesh is very big and has unlimited opportunities. Now a day’s furniture business is one of the important and profitable businesses in our country. The market is also competitive and the demand of modern furniture is also increasing. HATIL Complex Ltd. is a leading doors and furniture manufacturer in Bangladesh. HATIL has been established in 1989 following the footsteps of H.A. Timber Industries Ltd. - a company running from 1966 with reputation in timber processing sector. The constant pursuit for achieving excellence in quality of its products and customer service has brought the company reputation and reliability along with the trust of its customer. Changes in consumer habits played an important role in the development of the Bangladeshi furniture industry and Bangladeshi companies have been forced to act accordingly. At the start of the period consumers typically changed furniture only once in their life, but today consumers have developed a habit of change furniture more frequently. Furniture retailers face challenges in meeting consumers’ demands. Because consumers are looking for furniture that represents who they are, furniture retailers have to carry a wide selection to meet customer’s expectations. Since the real life business is always very complex and competitive, every business has to face the intense competition and those who can successfully operate within this critical situation can become successful and brand awareness is very important. HATIL   started out with passion and creativity and it always believe   in itself. The spirit of independence –the spirit of countless Hatilians –will keep HATIL alive for years to come.

1.2 Origin of the Report

BBA is a professional degree. This degree is different from other degrees in the extent that it requires to achieve practical experience with relation to the theory. For this reason, BBA students require to undergo internship program where they match practical knowledge with that of theoretical knowledge which is acquired through the degree. It brings a student closer to the real life situation and thereby helps to launch a career with some prior experience. The degree does not complete unless a written report submitted to the faculty, basing on what have the students learned through the internship program. Being a student of BBA (major in Management) in the University of Comilla, I had the opportunity to work at HATIL Complex Ltd. from June 15 to August 01; 2018.This report is on “Retail Marketing & Consumer Satisfaction of Home Furniture: A Study on HATIL Complex Ltd.”. I have tried my level best to make it an excellent one. I have been serving this company as an intern for three months .I got privileges to put the latest data here.

1.3 Objectives of the Study

The objective of the internship program is to be familiarized me with the real market situation and compares it with theoretical concept.

1.3.1 Main Objective

The main objective of this report is to have an assessment about the situation of the retail marketing in addition to consumer satisfaction of HATIL Complex ltd.

1.3.2 Specific Objectives

ü  To find out the overall picture of the company.

ü  To find out influential factors of retail marketing.

ü  To explore consumer’s attitude toward HATIL.

ü  To recommend action that may be necessary to redesign strategy of the company.

1.4 Purpose of the Report

My corporate purpose is to state that to succeed the problem and pattern statement of HATIL. But the whole information about HATIL Furniture as like what is working system and etc. are not clearly given on website.

1.5 Scope of the Study

During my internship period I have got chance to visit many factory houses, dealer offices, retail stores, supervise many production process and complete many sample programs. HATIL is one of the major areas of domestic as well as foreign earnings through distribution. The scope of the internship was limited to Head office, Branch office of Comilla, HR department, Sales and Distribution department, Commercial Department, Production Department and Quality control department. I visited personally these departments and found all desired news, information, data etc. I tried my level best to fulfill the requirement related to the study.

1.6 Methodology of the Study

Methods followed to perform a job or conducting activities to complete a task is called methodology.

In conducting this study the following methodology was adopted in collecting data and information, preparing of report.

For the purpose of the study, necessary data were collected from the primary and secondary sources.

1.6.1 Collection of Primary Data

Ø  Face to face interview with the head of departments, respective officers, and staff of HATIL

Ø  Face to face interview with customers and retailers of HATIL

Ø  Relevant documents studies as provided by the officers concerned

Ø  Group discussion

Ø  Questionnaire

1.6.2 Collection of Secondary Data

v  Websites of HATIL

v  Annual report

v  Annual budget

v  Brochures, manuals and other relevant publication of this company.

v  Books, journals and various articles etc.

1.7 Research Design & Instruments

Quantitative research based on the quantity of number. The instruments that was used for data collection is the questionnaire. The questionnaire was structured.

1.8 Questionnaire Design

Questionnaire based research have been conducted by me. The Questionnaire of my survey has been made by considering the types of Likert scale. Each item was rated on a Five-point Likert scale anchored the verbal statement at the number-                           

                               1= “Strongly Disagree”

                               2= “Disagree”

                               3= “Neutral”

                               4= “Agree”

                               5= “Strongly Agree”

The questionnaire was pre-testing and refined until all appropriate wording was finalized and captured the desired constructs. 

1.9 Sampling Plan

1.9.1 Sample Characteristics

I collected information for this report mainly from primary survey. I selected 60 people as sample. Most of them were females.

1.9.2 Population

For time and budget constraints, I decided to peruse the retailers and customers of HATIL who have sold and used their furniture. They helped me by providing valuable information.

1.9.3 Sample size & element

Total sample size was 60 which were divided into two parts:

      Respondents enlisted at the retailers

      Respondents enlisted at the consumers

1.9.4 Sampling Unit

Retailers and consumers at COMILLA city who sell and use HATIL furniture were my sampling unit.

1.9.5 Sampling Procedure

Non-probability convenience sampling procedure has been used in the survey.

1.10 Data Collection Technique

Survey method (Retailers and Consumers interviewing).

1.11 Data Collection Instrument / Research Tool

Data were collected through questionnaire.

1.12 Data Analysis Technique

Data were collected through questionnaire, and then the data were organized and summarized through scrutiny, then coding and interpreting the result.

1.13 Data Analysis & Reporting Tool

Data analysis has been done by using different types of computer application programs such as SPSS 16.0 and MS Excel.

1.14 Limitation of the Study

I had to face different problems during the study and also while   writing the report. Those are mentioned below:

      The First limitation is that I failed to sketch the complete picture and activities of the HATIL

      The second limitation is that the duration of internship is only 3 months (12 weeks) is not enough for the study.

      Sufficient records and publications as well as up to date information are not readily available.

      Most of the officers are too busy to provide me sufficient time.

      Lack of proper documentation because of the confidentiality of the organization.

      Finally, my personal limitation to prepare the report.

1.15 Significance of the Study

HATIL is dealing with customers on a daily basis; greater customer satisfaction will lead to customer loyalty. By promoting and retaining through marketing tools they can achieve many advantages, Like-

                       

          15.1 Positioning

Customer retention and rising satisfaction will help HATIL to identify its current position and hence find out ways to reduce the gap between loyal and disloyal customers. It will help HATIL to identify future prospects for the company.

       15.2 It Helps to Understand How Customers Feel about the Company

It identifies behaviors and attitudes of the customers, how customers feel about the company. These will help HATIL to be more respective and to change their behavior towards the company.

       15.3 Greater Customer Care Adds Value

The greater advantages will be reduced cost of sales due to better customer retention, profitability, gains from expected management ships and new revenue from customer referrals and the rate of using new services.

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