Aman Project Synopsis

8/7/2019 Aman Project Synopsis

http://slidepdf.com/reader/full/aman-project-synopsis 1/5

TITLE: ³STRATEGIC ANALYSIS OF CONSUMER SPENDING BEHAVIOR THROUGH CREDIT

CARDS DURING RECESSION´

AIM & OBJECTIVE:

Main Objective:

To understand credit card brands in the financial industry market and to know

consumer buying behavior in through credit cards.

Secondary Objectives:

To understand the customer perceptions about credit cards

To identify the parameters in the buying behavioral process

To understand the sales processes of credit cards

To identify the information obtained after the purchase activity from customers

To identify the initiators of using credit cards in buying process

To identify the purchase level through credit cards after economic slowdown.

Scope

Since credit card plays an important role in consumer finances it is useful for studying the

consumer¶s behavior. The economic down turn which the economy faces today is also due to the

excess spending of card holders in the past. Thus it leads to a feeling of the pinch of shrinking

home values and job threatens. Thus now consumes are alert about the risk involved in using

credit cards as a result of the media coverage of debt issues concerning credit cards.

METHODOLOGIES:

The present study attempts will be made to study whether the consumers spending habit have

decreased using credit cards during the economic slowdown. Thus views of credit card holders

and managers have been examined using a structured questionnaire.



The research methodology for this thesis as follows:

1. Primary Data will be collected by interviewing the following people

a) Credit card holders

b) Credit card sales officers

c) Sales Managers

d) Experts

2. Secondary Data will be based on the study on the different credit card brands in the

market.

PLAN OF THE PR OJECT:

Literature review will be collected from online articles & books. A well framed questionnaire

will be prepared after incorporating the information collected through pilot survey. The primary

data will be collected through questionnaires and informal interviews with the Sales Managers,

Sales officers, Experts within the organization and as well as the customers. The secondary data

will be collected through internet, company details obtained from the organization and though

various marketing books. The data collection will be done for a period of one month. Based on

the data collected various charts will be drawn and findings & recommendations will be sorted

out.

Justification

This problem is a current hot topic. So there is a need to understand the consumer

behavior on this topic. Moreover it is predicted that this Economic Recession will continue for at

least 2 years, thus this study will definitely help to understand the spending habit using credit

card holders in this tough time in history. Also this project will touch upon the cause and effect

of more spending habits through Credit Cards.



REFERENCES:

Can be used

Ô http://biztrends.com/2006/09/business-down-signals-economic-slowdown.html

Ô http://timesofindia.indiatimes.com/articleshow/3917506.cms

Ô http://www.indianrealtynews.com/retail-market/lifestyle-retailers-on-a-roll-despite-

economic-slowdown.html

Ô http://www.thehindubusinessline.com/catalyst/2009/02/stories/2009021250010100.htm

Ô http://www.hsbc.co.in/1/2//personal/credit-cards

Ô http://www.icicibank.com/Personal-Banking/cards/Consumer-Cards/Credit-

Card/personal-banking-credit-cards.html

Books:

Understanding Consumer Decision Making: The Means-End Approach to Marketing

and Advertising Strategy

By Jerry C. Olson, Thomas J. Reynolds.

Consumer Behavior in Indian Cont.

By Jain & Monica Bhatt

CASE STUDY: View from Harvard Business School

Customer buying behavior after recession

It¶s likely that the brands, tactics, and strategies you took into the recession are not going to be

what you need to bring back customers as we recover. Too much has happened. People have lost

faith not only in Wall Street brands, but all corporate brands to an extent. They¶ve also learned

the value of savings, the high cost of credit, the sudden uncertainty of financial markets, their

vulnerability to job loss. All these shifts affect buying behavior. What also has changed, most



likely, are your priorities as a manager or owner. Cash is king again. Inventory is death. True

partnerships are golden. The price has to be right. Experimentation is necessary but too many

bad bets are draining. Flexibility trumps consistency.

So how does all this change how you reach your customers when the bear turns into a bull again?

1. Focus on high potential customers

2. Don¶t assume a return to normal

3. Asses your target customers trust in your brand

4. Stay focused on costs

5. Know your lead indicators

6. Develop scenarios

7. Don¶t wait for permission

These are all excellent points, but I was most struck with ³Know Your Lead Indicators.´

What Quelch argues is that you have the best insight into your own customers. So use that

knowledge to competitive advantage. Says Quelch:

Every good marketer knows the specific indicators, macro or micro that predicts demand for his

or her product in the next period. Use common sense. If the Wal-Mart parking lot looks less

crowded, some consumers are probably migrating back to Target and vice versa.

Source: http://blogs.bnet.com/harvardbusinessreview/?p=1045

Aman Project Synopsis

Documents

Transcript of Aman Project Synopsis