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10 of the Best MBA Programs
Just 20 years ago, a bachelor’s degree was enough to compete in the job market. Despite the rising costs of tuition, a bachelor’s degree doesn’t hold the same value as more and more people are getting them. This is why many people are pushing for a master’s degree. Those with a master’s will make more money in their lifetimes than one with a bachelor’s. If you’re considering a graduate degree in business, take a look at the 10 best MBA programs.
The gold standard of higher education, Harvard is the best business school in the country, but it’s notoriously difficult to get into. However, getting in is only half the battle. Harvard is a difficult and expensive college. Once you make it through you’ll have the best MBA you can get.
Cornell consistently makes it in the top 10 business schools every year. Located in Ithica, NY, Cornell is a great option to get your MBA. For those unwilling to move, they offer an online program through their extension school. Because of this, Cornell should be on your list of schools to get your MBA.
University of Chicago
Booth business school at the University of Chicago is a great option for those who love urban city life. Booth is in a relatively safer area of the city and is located close to Lake Michigan. Sometimes, the deciding factor in getting your MBA is the location of the school which is why this program attracts great people.
University of Pennsylvania
Wharton business school is known for its high profile alumni and its excellent curriculum. Located at the University of Pennsylvania, Wharton attracts people from all over the world and for a good reason. The connections made there can resort to high profile careers and even positions at startups and getting the connection to start your own company.
Stanford has some of the most well-known alumni in the MBA industry. Many people choose to go to Stanford for the quality education and the sunny California location. However, many also choose to go for the connections you can make. If you’re looking to get into the startup industry this is the place to go.
University of Texas – Austin
While UTA isn’t as popular as Harvard, it’s one of the best options for business schools. Austin has a thriving startup culture and there are plenty of connections to be made there. The best part is the affordable tuition rate. It’s about half the price of other business schools.
Columbia University
Columbia is another one of those business schools that always makes it in the top 10. Based in New York, Columbia attracts worldwide talent every year. The program is highly competitive due to the number of applicants but don’t let that stop you from applying. After all, you could get in.
Duke University
Duke is also a well-known business school located in North Carolina. Many alumni leave the school highly well trained, and due to the competitive nature of the curriculum, you can expect to leave this school ready to enter the job market. Duke also has a fantastic alumni program.
University of Michigan
U of M is located in Ann Arbor, Michigan. Their business school has made it in the top 10 several years in a row, and they always make the top 20. Ann Arbor is a lovely college town with plenty of chances to network and make connections to benefit your future.
Massachusetts Institute of Technology
MIT is a school that everyone instantly recognizes. For those who are seeking an MBA in the technology field, MIT is the place to go. Like Harvard, MIT is located in Cambridge, Massachusetts, and because of this there are plenty of opportunities to network. MIT has a tough curriculum but it will prepare you for the job market.
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Is an MBA Still Necessary?
Two outspoken academic leaders offer opposing views on the relevance of a traditional business education.
By Jason Daley • Sep 24, 2012
Opinions expressed by Entrepreneur contributors are their own.
It used to be that top corporations picked up MBA graduates as fast as schools could slap mortarboards on their heads. These young guns drove corporate reorganization, product innovation and marketing and implemented new styles of leadership. They were a symbol of a new culture, and anyone serious about a career in business aspired to earn those three letters.
Today, the power of the MBA is not so certain. Many in corporate America and academia say the degree that once defined bright, snappy leadership now symbolizes a discipline that has lost touch with the business world. They argue that MBA programs have become too focused on research, and that in-house training at large firms has more practical applications. They claim the programs have failed to create the types of leaders who can deal with globalization; some say they don't develop leaders at all, just functionaries. Other critics think a focus on profit and share value, rather than on ethics and sustainability, fostered the type of narrow-minded thinking that led to the fall of Enron and the last recession.
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Guide to the Business School Capstone Project - Types & Examples
- What is an MBA Capstone Project?
B-School Search
An MBA capstone project is the final step in many MBA programs. It’s here that MBA students put all that they’ve learned into practice by analyzing a meaningful and strategic business question. Often, this involves hands-on work within an existing company, but not always: MBA capstone projects can take the form of startup business plans and business simulations, too.
No matter their format or focus, each capstone project is likely to be the most intensive, and possibly the most rewarding, feature of an MBA candidate’s journey.
A capstone project is not the same as a thesis project, although they do share some qualities. Thesis projects are focused on theory and research, and based on the type of situations one would face in academia. Often taking the form of a large research paper, thesis projects can last the entire final year of an academic program, and some students may even begin before that, with the ultimate goal of contributing new knowledge to the canon of business research.
MBA capstone projects, by contrast, are more practical and similar to situations one would face in the business world. Here, students work in teams to answer strategic business questions. MBA capstones are hands-on immersions with real-world consequences, and they can have a major impact on an MBA graduate’s program experience, as well as their career.
To see some examples of MBA capstone projects, and to get a walkthrough of the general process, read on.
Stages of an MBA Capstone Project
Most MBA capstone projects take place during a program’s final year and can last anywhere from four weeks to a full semester. They often include some form of instruction (whether through prerequisite courses or scheduled advising) along with practical application.
While MBA capstone programs will vary in format from program to program, they generally include the following stages:
- Topic Selection
- Preliminary Research
- Project Execution
- Written Report
- Final Presentation
It’s not necessarily over after the final presentation, either: some capstone projects carry over beyond the MBA program, leading to successful startup businesses, offers of employment, or investment opportunities.
Choosing a Capstone Topic
Many MBA programs provide some structured options for choosing a capstone topic. This can mean students are allowed to select from a list of possible partnership opportunities; it can also mean that faculty advisors will work with students to find a topic that meets the student’s strengths, weaknesses, and goals. But in other programs, MBA students are given more freedom to choose both their topic and their partner organization.
In their capstone project, MBA students should select a topic where they can answer a meaningful and strategic business question: one that’s complex enough to warrant significant time and energy, but also realistic enough as to be achievable. These are not theoretical questions, though; each one is tailored to a specific real-world business.
Some examples of MBA capstone topics include:
- What are the short-term outcomes of a mutual fund’s impact-investing initiative?
- How do the diversity and inclusion efforts of multinational companies adapt to non-Western office environments?
- What is the market feasibility of a startup’s application in target demographics?
- How can a recently downsized organization recover employee morale while keeping the budget balanced?
It’s critical for the capstone topic to be specifically relevant to the partner company or organization. To this end, MBA students should heavily research the company’s strengths, weaknesses, and objectives before selecting their topic.
Similarly, MBA students should turn that lens on themselves, too: what problems do they want to explore in their business careers, what causes do they find interesting, and how can their own unique skill set be best put to use?
How an MBA Capstone is Graded
Some programs provide MBA candidates with a rubric for how their capstone will be graded, while others do not. Most capstones are graded through their ability to demonstrate key business skills (theoretical, practical, applied, and reflective) across functional areas (finance, human resources, marketing, and operations).
The final presentation is also a factor, as this is where the candidate demonstrates what they learned, or didn’t, through the course of the capstone.
It’s rare that an MBA candidate will fail their capstone project. After all, they’ve made it through practically an entire MBA program up until then. Even if the project is a failure from a business point of view, an MBA candidate will likely still be able to effectively analyze where and why the project failed, and what lessons can be learned from that failure going forward.
Examples of MBA Capstone Projects
Ucla anderson school of management capstone project.
The MBA program at UCLA Anderson School of Management offers three capstone options: the Global Access Program (GAP), the Business Creation Option (BCO), and Anderson Student Asset Management (ASAM).
In the GAP, students partner with high-growth global companies in a market-entry consulting project. Working in five- to six-person teams, students bid on partnership opportunities, perform five to six months of research, then travel internationally to the partner organization. Combining interviews, meetings, and research, the students develop effective strategic business plans to advance the organization’s growth, and present it to the organization’s executives, potential investors, and industry professionals.
Along the way, students are advised by faculty members who have directed, invested in, and provided consulting services to leading companies worldwide. In the last 20 years, over 3,000 students have completed the GAP, impacting 738 companies across 23 countries.
For students with an entrepreneurship focus, the BCO offers them the chance to launch a company. After taking two prerequisite courses to prepare their business plans, students will work in teams across two academic quarters. Through extensive research, development, and implementation, students will put strategies for every aspect of their business into practice. In three years, the BCO has had 47 teams and launched 24 companies.
The ASAM program is for current and aspiring quants who want experience as successful long-term portfolio managers. Guided by a faculty advisor and oversight committee, students in the ASAM program will select an optimal mix of equity, fixed income, and cash investments. Each four-member team manages approximately $200,000. Students will rotate work roles between that of an executive board member, strategy lead, risk manager, and programmer.
Carnegie Mellon University Tepper School of Business Capstone Project
The MBA program at Carnegie Mellon University Tepper School of Business offers students three different forms of capstone program: Global Study; Strategic Management of the Enterprise; and Management Game.
In the Global Study capstone, MBA students will take a four-week study abroad course in either Mainland China and Hong Kong or Germany. Previous topics of study have included bank lending in China; entrepreneurship in Asia; European economic integration; and operations management in Europe. Each class is complemented with tours of local companies and meetings with local business leaders. Upon completion of the international experience, students return to Tepper to give a final presentation.
The Strategic Management of the Enterprise capstone is an experiential learning course where students are matched with one of several consulting projects to solve business problems faced by partner companies. This is a more traditional capstone program, focused on the practical application of business skills learned through the MBA curriculum. Past clients have included Walmart, P&G, and Ameriprise.
Tepper’s Management Game capstone is an applied management experience. Student teams run a computer-simulated multinational manufacturing company for three years, acting as its executive committee. Taking place at the end of the MBA program’s curriculum, the Management Game capstone focuses on the unstructured nature of business problems and prods students to use all the functional skills they’ve learned so far. External-facing exercises include interaction with industry partners and are related to each student’s career choices.
Uniquely, the Management Game capstone is graded by external professionals on the merit of the results students deliver; students have the chance to receive direct feedback from corporate partners throughout the process.
Matt Zbrog is a writer and freelancer who has been living abroad since 2016. His nonfiction has been published by Euromaidan Press, Cirrus Gallery, and Our Thursday. Both his writing and his experience abroad are shaped by seeking out alternative lifestyles and counterculture movements, especially in developing nations. You can follow his travels through Eastern Europe and Central Asia on Instagram at @weirdviewmirror . He’s recently finished his second novel, and is in no hurry to publish it.
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MBA Capstone Project – How to Write, Types, Format, Examples and Resources
Terms like Capstone, dissertation, and thesis are often interchangeably used by people for referring to their master’s degree course project . All these terms perform similar actions but also maintain their individuality.
Capstone project as a whole is both intellectual experience and a medium through which students of any degree course demonstrate their research, analytical, and writing skills.
MBA Capstone Project
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In order to complete the capstone project authentically and objectively. MBA students go for an internship to gain practical knowledge and experience. Students use their practice knowledge and personal experience giving a concrete shape to their capstone.
How to Write MBA Capstone Project?
Students use different topics and methodologies for the project work. But they have to follow the proper format of writing Capstone Project. Here are the components which are necessary for writing the Capstone project.
Copyright page
It is an important component whose purpose is to protect your writing from cheating or misusing without your permission.
Introduction
Research methods, research findings.
Here the result of the research is clearly displayed. It also states the facts and figures along with the reasoning behind the data received.
Limitations
Bibliography.
A bibliography or reference page is an essential component of a capstone project. It enlisted all sources in alphabetical order that contributed to your MBA capstone project.
Acknowledgments
Effective way of writing an mba capstone project.
In order to make your MBA capstone project writing an effective and efficient process, you have to draft it the given framework or guidelines. Here are some characteristics of writing an MBA capstone project which makes your work more presentable and attractive.
Originality:
The capstone project gives you a chance to show your creative and analytical skills. In order to maintain originality students should formulate their own perspective about the chosen problem and give a new direction to their research.
Independence:
Appropriate scope:, orderly & objective process of inquiry:.
The MBA capstone project research should be carried out in a well organized and unbiased way. While conducting inquiry students demonstrate their abilities like critical thinking, identifying and selecting information, using data and evidence in the right manner. It also enhances questioning and reasoning power. It also solves problems by using a specific set of tools to derive an objective result.
Intellectual Stretch:
Different types of mba capstone project and example topics:, research dissertation:.
This is solely a theoretical MBA capstone project. In this kind of project where students review the literature of business and administration. Highlight theories and concepts and attempt to conduct research that generates new data. It encourages the formulation of new theories addressing the gaps in the present problems in the business literature.
· Development of a strategic, financial, and information system for an existing small business.
· Improving continual learning at an executive level.
Business Consultancy Project:
Here are some Business Consultancy ideas for your MBA Capstone Project:
· Study evaluating the feasibility of establishing an international consultancy.
Business Plan:
In this type of MBA capstone project, students prepare a full-fledged plan for a research venture. It incorporates cost, investment, and expected returns of the business. It also reviews the literature of business for creating a link between the course knowledge and practical understanding.
· How to create an efficient franchising system.
· Reorganizing factory flow in a small manufacturing operation.
· Research on when consumers prefer to pay with credit cards.
· Outsourcing of business processes: a review of effectiveness and real costs.
Online MBA Courses and Capstone Project
· Tepper School of Business, Carnegie Mellon University
· DeVry University
Order Capstone project
MBA Capstone & Thesis | 2022 Guide
Reese Lopez
Contributing Writer
Learn about our editorial process .
Updated November 17, 2022
OnlineMBA.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
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Typically serving as the culminating experience in an MBA program, a capstone or thesis project bridges academic study and professional practice, applying the skills gained from an MBA to real-world business management and research. Thesis projects commonly take a more academic, research-based approach, while capstones focus on the practical side of business, often requiring students to identify and solve problems at real companies.
Capstones require students to synthesize everything they've learned from their MBA programs, serving as their best opportunity to demonstrate understanding of business principles and practices. Andrew Gold, an associate professor of management at Saint Leo University in Florida, puts it plainly: "The capstone is probably the single most important class in the entire program."
This page offers a general guide to MBA capstone and thesis projects. Below, find an overview of the key differences between the two types of projects, typical steps to research and writing, capstone project examples, and answers to common questions -- all accompanied by expert advice from an MBA faculty member.
What's the Difference Between a Capstone and a Thesis?
While a capstone and thesis serve similar functions, most MBA programs distinguish between the two projects. MBAs typically include practicum/internship components, enabling students to gain hands-on experience in professional business environments. Capstones build on this experience, requiring students to develop practical solutions to real-world business problems.
As Gold explains, "The [capstone] is intended to demonstrate that you understand and can apply what you have learned about the various disciplines in the business school and use some creativity to put together comprehensive analyses of complicated, real-life problems."
A thesis generally takes a more academic approach, requiring students to answer a question to contribute new knowledge to the field through a comprehensive research paper. Programs with an academic focus, preparing graduates for research and academic positions, might opt for a thesis over a capstone.
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The MBA Capstone
Broadly, MBA capstones require students to synthesize major program principles to address contemporary business issues, serving to assess overall knowledge and individual skill. As Gold explains, "In addition to demonstrating students' abilities to analyze complex problems, the [capstone] typically shows evidence of creative thinking, critical thinking, and the ability to examine a problem from a variety of functional perspectives." The following sections detail typical capstone components and processes.
The MBA Capstone Process
The MBA Capstone Format
Choosing Your Capstone Topic
Example Topics for Capstone Projects
Business plan for a startup venture, analysis of emerging technology threats, reorganization after corporate downsizing, gamification of sustainability behavior, feasibility and market analysis for a new app.
Completing Your MBA Capstone
- Collapse All
How to Research for Your Capstone
Capstone research often involves a literature review of existing information on a topic, along with original research into the company itself. To address a business problem, students must understand both the general nature of the problem and its specific impact on an organization.
Gold recommends students familiarize themselves with their capstone topics before contacting their organizations with questions: "Get as much information as possible from publicly available sources. Prepare questions in advance."
When conducting interviews, strive for courtesy and professionalism. "Understand that the people you speak with in the company are doing this outside their normal job routine, so make it as easy as possible for them to help you with the least amount of effort on their part," Gold adds. "Be specific with your requests and be very professional."
How to Outline Your Capstone
After conducting initial research, students should create an outline to organize their ideas and prepare to write their capstone papers. Exact organizational strategies vary depending on capstone subject, but most papers begin with an introduction to the company and/or business issue before moving into a more in-depth problem statement. The paper then states capstone goals and objectives, and it describes methods and strategies, a management plan, and a strategy for evaluating the effectiveness of the project.
Gold offers some practical advice for students: "Start with a high-level list of bullet points that will carve out each of the different sections of the project. Then start to narrow down each of the sections. Much of the outline will develop as you start to proceed with the project and there are a variety of templates online that you can also use as a guide."
How to Write Your Capstone
Gold recommends students begin their writing with high-level questions: "What is it that you are trying to answer? Avoid very simple yes/no-type questions, and instead ask questions like, 'How might we' or 'How can we,' that imply more complicated answers. As you hone in your question/topic for your project, then start to think about how you would go about answering the question."
Given that most capstone projects aim to propose solutions to business problems, students should ensure they clearly define the business problem, their strategies for addressing it, and their methods for evaluating strategy effectiveness. Capstone writing should always adopt a professional tone, suitable for academic or business communications, and students can work with faculty to ensure their work meets professional standards.
Capstone Project Workflow Tips
Make realistic goals, divide work into stages, delegate tasks efficiently, use past work as a guide, seek assistance when necessary.
Presenting Your MBA Capstone
How Is an MBA Capstone Graded?
The MBA Thesis
An MBA thesis functions similarly to a capstone in some regards, but the two projects maintain notable differences. While capstones address practical business problems, thesis projects draw on original research to contribute new knowledge to the field of business. This section outlines major components of an MBA thesis.
The MBA Thesis Format
Choosing Your Thesis Topic
Completing Your MBA Thesis
Presenting Your MBA Thesis
How is an MBA Thesis Graded?
Frequently Asked Questions About MBA Capstone
What is an mba capstone project, what are different types of mba capstones, is a capstone course hard, how long does an mba capstone project take, what is a great company for an mba capstone analysis project, what happens if you fail your capstone, is a capstone the same as a thesis, what is the difference between a dissertation and a capstone, is a thesis required for an mba, how long is an mba thesis, meet andrew gold.
Andrew Gold
Andrew Gold , Ph.D., is an associate professor of management at Saint Leo University in Florida and an adjunct associate professor at the University of North Carolina, teaching managing innovation processes and performance in the online MBA program . He received his bachelor's degree in finance in 1992 from Ohio State University's Fisher College of Business, with a focus on international finance and investments. He received his doctorate in 2002 from the University of North Carolina's Kenan-Flagler Business School, with a focus on strategy and innovation management.
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Capstone project.
One of the guiding principles of the Robins School is for students to become valuable resources and active participants in our community. The Capstone Project provides that opportunity. The Capstone Project is intended to be the final piece of our MBA students' graduate studies with the objective to integrate concepts learned throughout The Richmond MBA program to address a strategic challenge facing a host organization.
The Capstone usually focuses on three basic types of projects that maximize returns and lead to the most innovative solutions: (1) Market Entry/Expansion Strategy, (2) Strategic Decision Analysis, and (3) Process Improvement Recommendations .
To qualify as a Capstone Project, the issue being addressed must be closely tied to the strategic direction of the organization (or a major division or department). In developing recommendations for how the organization might resolve the issue, students are expected to synthesize business concepts learned in the program and demonstrate their real-world business applications.
Through rigorous research and analysis, students (in pairs) develop and present customized, solutions-based recommendations for the organization. The core deliverable is a major report in good scholarly form with sound technical analysis, references, and bibliography.
Over 500 organizations worldwide, from corporate headquarters to local franchisees, have taken advantage of the Capstone Project to increase revenues, implement projects, and recruit highly qualified talent.
The Capstone Project
- High-level, pro-bono, confidential student consulting project that addresses a strategic question facing the organization
- Involves multiple business disciplines (i.e.finance, marketing, operations, and supply chain)
- Results in analysis, recommendations, and an implementation plan
- Allows student to demonstrate the integration of MBA program concepts
How it Works
- Client-proposed strategic question central to the direction of the organization, division, or department
- Client provides relevant internal data
- Student researches, summarizes, and analyzes findings and alternatives leading to relevant recommendations
- Biweekly updates, midpoint and final presentations
- Project guidance provided by MBA administration and faculty advisor
Capstone Application
MBA Capstone
Top-notch mba capstone project service for struggling students, stash your academic stress away with our writing service.
MBA, the name itself speaks volumes of the efforts required to get the degree. And before you can indulge yourself in the glory of academic achievement, you have to pass through the writing and submission of an MBA capstone paper – a project that is almost a nightmare for every student out there. Not only is a capstone project very long, but it also requires special skills and knowledge for completion, especially if you want to achieve a good grade. Professors are also especially critical when it comes to a capstone paper and therefore, some help from a professional can be extra beneficial for you. At Capstone Project Writer, you can rest assured to get a good grade by leaving your MBA capstone paper on the experts in the field.
All You Need Is Quality Help With Writing To Save The Grade
A capstone project is not just a simple essay or research paper. Instead, it has a hefty amount of requirements that need extensive attention. Before you can even get down to writing, you need to conduct robust planning and hours of research in order to ensure that you are working in the right direction. Plus, the deadline! A pain in the neck. From meeting the requirements to the deadline, a capstone paper is a true challenge for even the brightest of all. In other words, a capstone project is something that all students run away from. But how long can you run away from it, anyways? After all, your grades on the stake. This is why hundreds of students trust Capstone Project Writer with their paper, aiming to get the highest grade in the class.
Our MBA Capstone Project Writers Do It In The Right Way
When it comes to writing a capstone project, it’s not only about the grammar and formatting. Instead, a quality capstone paper has well-research arguments, constructive structure, logical flow of the ideas, and accurate tone. Our professional writers understand this and it is no surprise that they are the best in their field. They have years of experience and extensive skills that make them the best of the best in the USA. Whether you want us to focus on a particular business plan or conduct an extensive analysis of the literature, our academic professionals focus on all the requirements to deliver something that is set to achieve the highest grades in the class.
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- 1. CAPSTONE PROJECT REPORT Internet Shopping and Buying Behavior of College Students Prepared By Deepankar Dohare KHR2011PGDM21F133 PGDM 2011-13 Under the Guidance of Prof. Sudipto Chakraborty ITM Business School Plot 25 & 26, Institutional Area, Sector 4, Kharghar (E), Navi Mumbai - 410 210
- 2. 1 CERTIFICATE This is to certify that the Project Work titled “Students’ Online Buying Behaviour” is a bonafide work carried out by Deepankar Dohare, a student of PGDM program 2011 – 2013 of the Institute for Technology & Management, Kharghar, Navi Mumbai under my guidance and direction. Signature of Guide Name & Designation: Sudipto Chakraborty, Asst Professor - IT Date: 04 March 2013 Place: Kharghar, Navi Mumbai
- 3. 2 ACKNOWLEDGEMENT I express my profound gratitude to Prof. Sudipto Chakraborty for his meticulous knowledgeable guidance and support to complete this project. Without his guidance and motivation my project would not have been such learning experience. I would like to express my sincere thanks to all the faculty members of the marketing department of ITM Business School for their guidance and support from time to time. Although they were not my allotted guide as per the college, yet they guided me in the right direction to complete this project with effective understanding. I would also like to thank all my classmates and my friends without whose cooperation this project report would not have been a reality. Deepankar Dohare
- 4. 3 Executive Summary The project talks about one of the most promising forms of retailing in today‟s technologically driven world; the online retailing. Online shopping in India has grown over the years from being a low profile concept to one which is now quite famous. The credit for this goes to, both the marketing companies that have created fantastic campaigns for spreading the word about this concept and the customers who have started shopping extensively for things online. Online shopping has become into a practice, which is now recognised by lots of human beings all over the world. In India, shopping has always been an activity, which has been undertaken with a gusto, which is quite unrivalled by any other activity. The Indian subcontinent has lots of human beings who have realised the advantages of forsaking shops and venturing into the online world with their credit card numbers and their wishes. College students form a major part of this group who is getting more and more interested in online shopping. Many researches have been made across the globe in order to understand the buying behavior and purchase patterns of this upcoming class which is spends 3-4 hours of their daily schedule on internet. They have more technology enthusiasts and gadget freaks. Recent studies have revealed that these college students prefer to shop online rather than go out in the market and spend time there. Markets have become more of a fun zone for them instead of shopping place. This project is an effort to understand how college students behave while shopping online and what is their behavior and attitude towards online shopping. The project concentrates on two objectives that need to be filled. The first objective is to find out the factors that drive and motivate students to opt for online shopping rather than real shopping. What benefits, according to them, they get from the virtual markets and shopping which have left the traditional shopping ways far behind. The second objective is to study what all products do the college students buy
- 5. 4 online. Which are the more popular categories among them that they are ready to shop for online and for which products/ categories they still prefer to shop in the real world. The project would help the businesses and organizations to understand these students behavior for whom they are waiting in the real world. Even the companies that have gone to adopt this channel, the project would help them to develop their offerings in a better way who are majorly targeting on college students as their target customers.
- 6. 5 Contents Introduction to E-Business……………………………………………………….. 7 About Online Retailing…………………………………………………………… 7 Literature Review…………………………………………………………………. 10 Definition of E-Tailing……………………………………………………. 10 The Need for Online Presence…………………………………………….. 10 Findings by IAMAI………………………………………………………. 11 Types of E-Commerce Customers………………………………………… 12 Students and online shopping…………………………………................. 13 Benefits students expect in e-shopping……………………………………. 15 Items of Fraud………………………………………………………………16 Advantages & Disadvantages of e-shopping………………………………. 16 Internet Retailing in India………………………………………………….. 17 Internet: The Better Alternative…………………………………………….18 Research Gap………………………………………………………………………. 20 Research Objectives……………………………………………………………….. 20 Research Methodology…………………………………………………………….. 21 Research Approach…………………………………………………………21 Questionnaire Design……………………………………………………… 21 Data Collection…………………………………………………………….. 21 Sample Size…………………………………………………………………22 Sample Selection…………………………………………...……………….22 Graphical Analysis………………………………………………………….23 Research Work……………………………………………………….................... 24 Data………………………………………………………………………... 24 Analysis……………………………………………………………………. 27
- 7. 6 Interpretation………………………………………………………………. 31 e-Shopping: The long way to go……………………………………………………34 Conclusion…………………………………………………………………. 35 Future Prospects…………………………………………………………… 36 References…………………………………………………………………………..38
- 8. 7 Introduction to E-Business In the past few years, e-shopping seems to have permitted every aspect of daily life. In just a short time, both individual and organizations have embraced internet technologies to enhance productivity, maximize convenience and improve communications globally. From banking to shopping to entertainment the internet has become integral to daily life. E-Business has been defined as “the conducting of the business on the internet, not only buying and selling but also serving customers and collaborating with business partners.”1 About Online Retailing Since the early 1990s the retail scenario in India has been characterized by a major shift from traditional kirana shops to modern formats that include department stores, supermarkets and specialty stores across a wide range of categories. Today, these retail formats have established good presence across prime locations in the metropolitan and mini-metro centers and the last few years have seen them spreading out across the countries, thereby exposing consumers in these areas to modern shopping options and experiences like never before. Even as organized retailers garner share from traditional channels, they have a larger role to play by way of boosting consumption levels to new heights. As per the IMAGES F&R Research, the total private consumption expenditure (in direct retail sales) is estimated at 10,500 billion (US $233 billion) growing at 5 percent annually; the estimated share of organized retail is only 350 billion (US $8 billion) at present, growing at over 30 per cent every year. In the shine of this overall retail picture, there exists a less visible, ultra-modern and hi- tech retail channel known as Online Shopping, the number of consumers (internet population) were about 38.5 million and total sales proceeds from online shopping was Rs.1,180 crore in 2010-112 . The numbers are growing at over five million per year and these consumers offer 1 Business Driven Technology, page 139 2 As per IMAGES F&R Research
- 9. 8 marketers a winning combination on account of their interest and willingness to adopt technology faster. Online Population (In Millions)3 AUGUST 2011 MAY 2012 CHANGE World wide 513.4 580.78 13.1 % Europe 154.6 185.8 20.2 % Canada/ US 180.7 182.7 1.1 % Asia/ Pacific 144.0 167.9 16.6 % Latin America 25.3 33.0 30.4 % Africa 4.3 6.3 30 % Middle East 4.7 5.1 8.5 % Source: www. NUA.com For retailers, this means they need to explore different channels of retailing to cater to varying and differing customers' needs. The brick-and-mortar format has its own advantages and limitations and therefore it is also necessary to tap the immense opportunities that other channels, like Internet and catalogue offer. Although the concept of e-retailing seemed almost revolutionary at first, e-retailing has become a mainstream method of reaching customers, and it is still growing. The overall objective of e-retailing is to create sales, manage additional retail functions such as buying and logistics, and find and identify new retail markets and opportunities using electronic technologies. The internet provides an easy way to bring buyers and sellers together at a reasonable cost. Even “resellers” have availed themselves of the internet. eBay, the company that hosts the 3 Source: www. NUA.com
- 10. 9 “world‟s largest garage sale”:‟ allows its customers the luxury of shopping at any time of the day at an economical cost. Retailers have found that e-retailing provides a better venue for serving their target markets. For example, companies involved in mail order business such as catalogs, flyers or magalogs have found that the web offers their customers the advantage of being able to track orders, inquire about delivery dates and check on items for back order. E-retailers as well as customers have benefited from these added advantages. For the e-retailer, payments of goods and services are immediate, thus creating an increase in cash flow and providing an efficient way to reorder inventory. Because only credit or debit cards are used for purchases, paperwork is minimal or nonexistent. Today, shoppers' tendency to buy things has changed to exploring product facts online and then buying offline. Since shoppers grow to be convenient combining in store, catalogue and Internet shopping experiences, retailers must flawlessly incorporate those channels or be prepared to lose the string of their purse in proportion to more alert rivals. The Online Retailing revolution tells that the Internet is playing a key role in changing the shopping experience in many ways - on and offline. With the help of Internet, customers have enabled themselves and given themselves the understanding to evaluate old items, find new ones, communicate with other shoppers and even find low-cost items, and for all these they don't take pains to walk to a store near to their residence. The fast going and growing world with one-click shopping, forces retailers to design new policies for capturing customers. To attract fresh consumers and to retain the old ones, retailers have to satisfy customers. For this every retailer has to acquire a level of organizational and technological integration that new researches point out.
- 11. 10 Literature Review Definition of E-retailing Basically, the term e-tailing comes from electronic retail. E-retailing is the selling of retail goods on the Internet4 . It is used in Internet discussions as early as 1995, the term seems an addition to e-mail, e-business, and e-commerce. E-retailing is synonymous with business-to- consumer transaction. E-retailing can be said as, the selling of retail goods on the Internet. E-tailing refers to retailing over the internet5 . Thus an e-retailer is a B2C business that executes a transaction with the final consumer. E-retailers can be pure play businesses like Amazon.com or businesses that have evolved from a legacy business, Tesco.com. E-retailing is a subset of e- commerce. B2C involves customers gathering information; purchasing physical goods i.e., tangibles such as books or consumer products or information goods or goods of electronic material such as software, or e-books and, for information goods, receiving products over an electronic network. The Need for Online Presence As per the estimates of Internet and Mobile Association of India (IAMAI), India's online population in 2008 was 40.5 million and is predicted to reach 100 million by the end of 2013. Today, customer expectations have significantly scaled outside the four walls of the physical retail store. Full assortments, competitive pricing, easy transactions, rapid order fulfillment and satisfaction guarantees are increasingly becoming the 'necessary factors'. Since today's customers are increasingly fragmented in the channels they use, they also expect unlimited shopping options with the flexibility to unconditionally hop channels, as and when they desire. 4 as cited in www.creotec.com/index.php 5 as cited in capcomarketing.com/mediakit/Marketing_Glossary/
- 12. 11 Traditional store-based and catalogue retailers are placing more emphasis on their electronic channels and evolving into multi-channel retailers for five principal reasons: 1) First, the electronic channel gives the retailers an opportunity to reach new markets. 2) Second, the retailers can leverage their skills and assets to grow revenues and profits. 3) Third, an electronic channel overcomes some limitations of the traditional formats. 4) Fourth, an electronic channel enables retailers to gain valuable insights into their customers' shopping behavior. 5) Finally, providing a multi-channel creates sharing of the percentage of total purchases made by a customer in a store. Some of the findings of the research, done by IAMAI, online shopping trends in India 1) Rs.570-crore worth of E-commerce conducted online in 2010-2011 to grow to Rs.2,300 crore by 2012-2013, an estimated 300 per cent-plus growth. 2) 55 per cent of visitors to e-commerce sites have adopted the Internet as a shopping medium. 3) 25 per cent of regular online shoppers are in the 18-25 age group, 46 per cent in the 26-35 age group, and 18 per cent in the 36-45 age group. 85 per cent of online shoppers are males; and even a 15 per cent female audience represents a 15 million strong market. 4) 83 per cent of the user base is educated with a Bachelor or Post Graduate degree, representing a well-educated audience. 54 per cent of online shoppers are at an executive level. 24 per cent of online shoppers are professionals or self-employed, indicating an assured spending power. 5) 76 per cent of online shoppers access the Internet from their office, 63 per cent from home and 24 per cent from cyber-cafes. 6) 96 per cent of online shoppers have used the Internet for more than 1 year and 65 per cent of shoppers have been using the Internet for more than 5 years. About 89 per cent of online shoppers use the Internet for more than 5 hours a week and 42 per cent for more than 20 hours a week. It represents the fact that the Internet is becoming an integral part of 'daily activity'.
- 13. 12 7) 81 per cent of online shoppers own a credit card; 75 per cent of online shoppers own a debit card. 8) In a single online transaction, 21per cent of the online shoppers have spent between Rs 500 Rs.1,000, 39 per cent between Rs.1,000 and Rs.5,000, 13 percent between Rs.5,000 and Rs.10,000, and 11 percent with more than Rs.10,000. These figures represent an audience that will pay good money for the value of a product irrespective of the medium. 9) Thus, the Internet offers an audience that will grow to a 100 million users by 2012-13, which is not bound by operational timings and geographical boundaries; with an opportunity to cater to countrywide city markets. Types of E-Commerce Customers There are basically 4 types of customers identified by Gaurav Doshi, author, ezinearicles.com. These customers are differentiated on the basis of their buying habits and motives for visiting a specific site. These customers are: 1) Goal directed shoppers 2) Experiential shoppers 3) Experienced with retailers site 4) Inexperienced with retailer‟s site Goal directed shoppers: This category of shoppers takes only genuine shoppers, who are serious about their online purchase. Such shoppers can be the first-time visitors to the site. Experiential shoppers: These shoppers are pleasure seekers, visiting the site just for the recreational purpose or to enrich their bank of information. Such shoppers are labeled as window shopper. Guided by the emotional content, these shoppers always prefer low-ticket products to high-ticket ones. For the success of online retailing, these customers have to be faithful. Experienced with retailers site: Faithful and experienced consumers are familiar with e- retailers' site and enjoy surfing the site. But if these consumers don't find anything new to surf,
- 14. 13 they will definitely lose the joy of navigation. Convenience, choice, quality, cost and dependability provide a strong ground on which relationship between the faithful customer and the retailer is built up. Inexperienced with retailer’s site: Inexperienced shoppers are completely unknown to e- retailing. These consumers, though do not have any knowledge of e-retailers' site, may have thorough understanding of other sites. It is believed that one day inexperienced consumers will become experienced. Students and Online Shopping Consumers across the age spectrum shop online, but college students aged 18 to 22 have been identified as the Internet's "hottest" market and a prime source of future growth in online sales. College students' yearly expenditures reach near $200 billion6 . They are heavy users of the Internet and have more access to this medium than most other population segments. According to Harris Interactive 92% of college students own a computer and 93% access the Internet. Their online spending exceeds that of any other demographic group. It has been noted that online purchases of students across Asia have totaled to $1.4 billion in 2008 following a 17% increase over the previous three years. In this vein, it is important for retailers and consumer educators to better understand college students' online shopping behavior. Despite e-tailing's rapid growth, conversion rates, the proportion of consumers who buy from websites out of all who visit them, remain low at only 4.9%. According to the survey by Shop.org (2001), although 72% of Internet users search online for products at least once a month, this high level of search activity does not translate into similarly high purchase levels. A BizRate.com survey of 9,500 online shoppers revealed that as many as 55% abandoned their shopping carts before checkout and 32% did so at the point of sale7 . Recent studies also have shown that increasing numbers of consumers use the Internet for collecting product information while still relying on offline stores (e.g., department stores) for purchasing. A consumer survey 6 as cited in PROMO Xtra, 2008 7 as cited in Shop.org., 2001
- 15. 14 showed that price, convenience, and selection are primary reasons for students shopping online, but lags in delivery and lack of tactile gratification impede some students' online shopping. There have been several reports into student‟s online spending habits over the past few years. College students spend more money online than any other demographic group. Students are particularly active and heavy internet users and that technology and the media have become a significant part of this young consumer group‟s lifestyle. Therefore it is important for retailers to better understand college students‟ online shopping behaviours in order to learn how to market effectively to them. Some findings of the earlier researches done related to students online shopping behavior in India and other Asian countries are mentioned below. Clothing is one of the most popular Internet shopping categories for students, of whom about 25% have purchased clothing online. Consumer‟s need for social interaction while shopping negatively affected the propensity to engage in Internet Shopping. Both male and female students are confident and price aware when shopping online. 89% of internet users had searched for information about products online in their last 1 year 12 months and 66.1% had purchased items online during the same period. E-retailers should incorporate their websites with entertainment features such as music, interactive networking communities for customers, and user generated content like customer-written reviews to attract consumers who look to get enjoyment out of shopping online. Cost was the second biggest factor for male and female students and e-retailers should provide competitive low prices or frequently offer promotional deals on items in order to attract cost conscious shoppers. Shipping and handling fees may be a critical barrier of online shopping for students whose primary concern is price.
- 16. 15 Benefits students expect in e-shopping Retailers have to recognize the motivation by which potential buyers are driven to go for on-line shopping. There are four basic facilities on-line buyers are hungry for. 1) They don't want to spend much time on shopping. Take a small family of a big city with all the members working and having tight schedule. They cannot afford to go for a time- consuming shopping. 2) Apart from the time constraint, big players of industry want flexible shopping time, which can be provided by on-line shopping. 3) It is pointed out by research that on-line shoppers are not much aware of price or brand because they are met with unlimited data on the Internet. Genuine consumers look more for value than only price of commodities. 4) Consumers may have the tendency to buy things inspired by advertisements or their impulses. Marketer of CDs and books can capitalize this habit of consumers. Marketers can use the data bank of such consumers and develop a rapport with consumers by inspecting the choices and brand required by them. Buyers can also be appealed to purchase fashion apparels on-line. Retailers should keep spirited the excitement of online purchasing by introducing variety of categories. According to Greenfield's Online Omnibus survey8 conducted last year regarding the consumer behavior for online shopping, few reasons came out as very prominent factors that motivate consumers to go for internet shopping. Why are consumers shopping and purchasing online? Saves time 49% Can find the lowest price 48% Avoid the crowds 43% More information on products 36% Better selection 32% Purchase hard-to-find items 23% Easier to ship 11% Good gift ideas online 11% 8 Survey Outlines CE E-tailing Consumer Demand., By: Smith, Steve, Ebsco Database
- 17. 16 Items of fraud One of the concerns of e-retailers is whether their customers believe they are a trustworthy seller. Developing a trusting relationship with a customer will take time and effort and it’s no wonder. The Federal Trade Commission reported that online scammers robbed Americans of more than $437 million dollars in 2008 with Internet related fraud accounting for 55% of all fraud reports. Top Products/Services for Internet-Related Fraud Complaints, 20089 Internet auctions 48% Shop-at-home/Catalog sales 20% Internet access services 8% Internet info and adult services 6% Foreign money offers 4% Computer equipment/software 2% Business opportunities 2% Note: Percentages are based on the total number of Internet-related complaints for the year (166,617) Advantages & Disadvantages of e-Shopping To customers, the most important advantage of the technology may be pricing. Prospective buyers simply surf the net to find the lowest-cost product available. In addition to realizing a cost savings, customers don‟t have to spend their time physically looking for the product. On the other hand, the disadvantages may involve consumer privacy and security. Consumers are very concerned about their privacy and about how retailer information is used. 9 source: Federal Trade Commission report on the National and State Trends on Fraud and Identity Theft for 2008
- 18. 17 Also, they are concerned about the security of shopping online. Consumers are mainly concerned that the hackers may access their credit card or bank account information, resulting in potential damaged credit ratings and financial loss. To minimize this, retailers should develop encryption systems where needed. An encryption system codes data so that the data can be understood only by the authentic user. Advantages for e-customer 1) Wider product availability 2) Customized and personalized information and buying options 3) Ability to shop 24 X 7 4) Easy comparison shopping 5) Quick delivery of digital products 6) Ability to create a one-on-one relationship with the seller Disadvantages for e-customer 1) Concern with transaction security and privacy 2) Lack of trust for unfamiliar sites 3) Inability to touch and feel products before purchase 4) Unfamiliar buying process using electronic money 5) Complicated legal environment 6) Return policies that are difficult to understand Internet Retailing scene in India In the West, only a few retailers operate in a single channel. Brick-and-mortar and catalogue-based retailers have websites, many Internet-based retailers have physical stores, and television-shopping channels are aligning themselves with catalogues and traditional retailers. Customers expect it and business demands it. In India, the relationship between the Internet and commerce has crossed the primary stage. According to recent estimates made by the Internet And Mobile Association of India
- 19. 18 (IAMAI), online shopping crossed Rs.570 crore in 2008-09 and reached Rs.1,180 crore in 2010- 11, representing a growth of 107 per cent over the previous year. This is expected to double in a year's time and reach Rs. 2,300 crore by the end of 2013. There are three key drivers for online shopping catching up in India. 1) Internet and increased PC penetration which is accompanied by falling prices of computers.10 2) India's middle-class is developing, with growing purchasing power and limited personal time. 3) Increasing usage of credit and debit cards coupled with a growing young population who spend significant time online. The Future Group formerly Pantaloon Retail had announced the launch of e-tailing concept, started in May 2006, at www.futurebazaar.com, to tap into the growing segment of online shoppers. Kishore Biyani had said, “Online retailing could provide a completely new dimension to retail. There is a new and fast emerging population of customers called Netizens who are spending more time in front of their PCs. We looked at this opportunity and hence our foray in the e-tailing space. We aim to earn Rs. 300 crore from this venture in the next one year. We will provide everything, everywhere, every time to every Indian customer in the most profitable manner.”11 Internet: The Better Alternative After so much of study, the question is why would the common man of India go for internet shopping? What is the incentive to try a new medium of shopping? 10 Pricing the technology, 2006 11 Source: www.financialexpress .com
- 20. 19 If anyone has to try this new medium of shopping, there should be overwhelming reasons for doing so. The benefits must go beyond mere convenience. For one, the consumer will certainly be interested if he gets things cheaper on the net. Says Biren Ghose12 , Chief Executive Officer (new media) of United Television which owns the site Tsnshop.com: "The Net being a new medium, we have to convince people to use this new medium to buy." Moreover according to K Vaitheeswaran, vice president (marketing) of the Bangalore-based Fabmart, "For convincing a customer to use this new medium, one has to offer an incentive to buy on the Net. Otherwise, it would be very difficult to get a customer to shop with you." It is very clear that easier and faster shopping are the reasons for shopping on the Net. But now the question is “How”? One can go to a brick-and-mortar retailer who could offer 10,000 items in his store. Chances are that he might be 10 per cent out of stock. On the other hand, the Internet offers millions of products with no chances of an out of stock situation. Easy and comfortably-obtained info is another advantage that shopping on the Net offers. On the Internet, product information is just a few clicks away, all accessed in the comfort of a home. Traditional retailing stands out in stark contrast: the consumer searches frantically, runs up and down, and grills a poorly trained store assistant who is unable to help him out. In the bargain, valuable time is lost. Simply put, shopping on the Internet for, say 15 minutes could save a two hour trip to the mall. Consumers prefer to save this time so that they can devote more time for their professional and domestic priorities. 12 Source: www.timesnews.com
- 21. 20 Research Gap Although much literature is available on e-shopping and its future, yet no relevant data was found regarding why Students like and dislike shopping on internet, what factors drive them to move away from the brick-and-mortar format and tend towards the virtual format. Also, it was important to find out what categories they actually shop on the internet. This was found to be an interesting and knowledgeable area to work on. Research Objectives 1. To find out the factors which influence the students to go for e-shopping. 2. To find out the categories in which students are influenced by the above factors, to purchase online.
- 22. 21 Research Methodology Research Approach There are two different research approaches namely qualitative and quantitative research. The research problem is the main criteria to select which approach is the most appropriate. Also on the type of information required is an important parameter. A Qualitative research refers to a research that produces theoretical and descriptive data. A Quantitative research is the one in which the information collected is expressed and analyzed in numerical form. In this research work, both qualitative and quantitative approaches are used to give a better understanding of the solution of the problem. Questionnaire Design The questionnaire is divided in two sections. In the first section general information about e-shopping is asked from the respondents so as to know about their awareness about it. In the second part there are questions related to the six parameters affecting the students‟s behavior towards internet shopping. And the other question is related to the categories in which they are comfortable in buying from internet. The scale used in the questionnaire is Likert Scale. The questionnaire is having 9 questions (close ended) apart from the personal information. Data Collection There are different ways for the collection of the data. Collection of primary data can be conducted in three ways- Observations, Interviews & Questionnaires. Observation is carried out by watching and listening to an interaction or phenomenon as it takes place. An interview is referred to as any person-to-person interaction between two or more individuals with a specific
- 23. 22 purpose in mind. A questionnaire is a written list of questions. When using a questionnaire, the respondent reads the questions, interprets what is expected, and then writes down the answers. In this research questionnaire system is being used because it is totally about the behavior of the customer. The inner mind of the customer carries impressions and ideas which will have to be converted into the numeric. It will be a personally administered questionnaire. Sample Size The size of the sample depends on the basic characteristics of the population, the type of information required from the survey and the cost involved. For this research project 50 respondents have been decided. This number is taken because these respondents are the best respondents in the pool. They have the knowledge about internet and its characteristics very well. All the respondents are students perusing their graduation/ post graduation. Sample Selection There are two basic methods of sampling, probability and non-probability sampling. With probability sampling, also known as random sampling, each unit of the population has an equal chance of being included in the sample. Non-probability sampling occurs when selection of the sample is dependent on human judgment, and not on the rigorous application of probability theory. For conducting this research project judgment sampling is used, which is a form of non probability is sampling. The total respondent are undergraduate or postgraduate students who are familiar with internet and have enough knowledge about it. The sample is chosen on the basis that all these can be taken as a customer and validity can be checked easily within them.
- 24. 23 Graphical Analysis The data collected for different factors will be analyzed graphically to study each factor separately. Each factor will be studied under three types of responses from the respondents, „Agree, Undecided or Disagree‟. This will help in knowing how much a factor affects a student and which of the factors act as a strong catalysts for e-shopping. Separate graphs are drawn for every factor to know to which factors the students are more agreeing or disagreeing. The total sample size for each graph is same. The more respondents agree to a particular factor, the more effective it will be. For category identification, the same method is followed. The graph shows different categories and out of the total samples how many respondents are comfortable to each category buying from internet. For each category, the maximum response will be equal to the total sample size.
- 25. 24 Research Work The Data The data collected through the questionnaire was entered into the excel spread-sheet for analysis. For each factor affecting the consumer‟s attitude towards internet shopping, a separate graph was made to find out whether the consumers agree to that particular factor or disagree or even they can not decide. Out of the total sample size, which was 30, the number of respondents to for each kind of response was recorded. Thus a clear idea was drawn regarding the factors that which of them affect the consumer more and which affects less or even the ones were not significant at all, i.e. they had no effect on the consumer. The various factors which were taken into account were, 1) Better price options 2) less time consuming 3) huge variety available 4) shop anytime 5) shop anywhere 6) better product information For each factor, the data collected is shown separately below: 1) Better Price Options RESPONSE NO. OF RESPONDENTS AGREE 30 UNDECIDED 6 DISAGREE 14 TOTAL 50
- 26. 25 2) Less Time Consuming RESPONSE NO. OF RESPONDENTS AGREE 26 UNDECIDED 5 DISAGREE 19 TOTAL 50 3) Huge Variety Available RESPONSE NO. OF RESPONDENTS AGREE 29 UNDECIDED 12 DISAGREE 9 TOTAL 50 4) Shop Anytime RESPONSE NO. OF RESPONDENTS AGREE 30 UNDECIDED 15 DISAGREE 5 TOTAL 50
- 27. 26 5) Shop Anywhere RESPONSE NO. OF RESPONDENTS AGREE 23 UNDECIDED 16 DISAGREE 11 TOTAL 50 6) Better Product Information RESPONSE NO. OF RESPONDENTS AGREE 30 UNDECIDED 11 DISAGREE 9 TOTAL 50 Product Categories The same method was used to identify the categories in which the consumers are ready to shop on the net. The table for the categories is given below. The number of favorable respondents for each category was noted out of the maximum number of respondents which was 50.
- 28. 27 CATEGORIES FAVOURABLE RESPONDENTS (OUT OF 50) RAILWAY/FLIGHT TICKETS 44 APPAREL 10 ACCESSORIES/ JEWELRY 15 MUSIC/ CDs 24 MOVIE TICKETS 33 HOME FURNISHING 2 GREETINGS/ CARDS 16 BOOKS/ RES. PAPERS 34 ELECTRONICS 17 SOFTWARES/ GAMES 27 The Analysis From the data collected, the graphs were drawn. These tables are given on the next page. These graphs clearly showed the effect of the factors in terms of the benefits which they get from internet shopping. The factors to which the customers showed favorable response showed high degree of agreeness as compared to those for which the consumers were not agreeing. For each factor studied the graph made from the data is given below.
- 29. 28 1) Better Price Options 2) Less Time Consuming 0 5 10 15 20 25 30 35 AGREE UNDECIDED DISAGREE NO.OFRESPONDENTS RESPONSE BETTER PRICE OPTIONS 0 5 10 15 20 25 30 AGREE UNDECIDED DISAGREE NO.OFRESPONDENTS RESPONSE LESS TIME CONSUMING
- 30. 29 3) Huge Variety Available 4) Shop Anytime 0 5 10 15 20 25 30 35 AGREE UNDECIDED DISAGREE NO.OFRESPONDENTS RESPONSE HUGE VARIETY AVAILABLE 0 5 10 15 20 25 30 35 AGREE UNDECIDED DISAGREE NO.OFRESPONDENTS RESPONSE SHOP ANY TIME
- 31. 30 5) Shop Anywhere 6) Better Product Information 0 5 10 15 20 25 AGREE UNDECIDED DISAGREE NO.OFRESPONDENTS RESPONSE SHOP ANY WHERE 0 5 10 15 20 25 30 35 AGREE UNDECIDED DISAGREE NO.OFRESPONDENTS RESPONSE BETTER PRODUCT INFORMATION
- 32. 31 The Categories The Interpretation From the above analysis of the data collected certain interpretations were made regarding the factors as well as the categories. From the first graph, it can be easily interpreted that students prefer online shopping because of the better price deals they are being offered. This came out as the most significant factor among students as they are more price cautious and sensitive. Also they would immediately switch to another online retailer if he offers them a better price for the same product. 30 out of 50 respondents believed that they prefer online shopping because of better price options. 0 5 10 15 20 25 30 35 40 45 50 NO.OFRESPONDENTS CATEGORIES
- 33. 32 From the second graph, it is seen that through internet people could shop in a lesser time as compared to a real a real shopping experience. Most of the people agreed to this fact that internet shopping enables them to find their required merchandise quickly and that they could easily purchase by just one click. This factor came out to an important factor in the entire consumer benefit set. The next graph is representing the people‟s response regarding the huge variety they get on the internet. A big number of respondents agreed to this, which was 29. Also 12 people could not decide about it that whether they get better variety of products in stores or on the internet. 9 people disagreed to it saying that brick-and-mortar stores offered them better variety. This factor also turned out to be a critical factor which drives the students towards internet shopping. The fourth graph of the factor „shop anytime‟ showed a very obvious response which was in favour of the internet shopping. 30 respondents out of 50 agreed to this fact that internet offers them the ability to shop at any time of the day. The ability to shop 24X7 becomes a very important factors which pushes the students to opt for internet shopping rather than real shopping. The fifth graph represented the people‟s response for the ability to shop anywhere in the world on internet. This factor did not turned out to be as critical as other factors. Students preferred to shop for brands which they knew and were familiar with. The ability to shop of brands which are not present in the country did not delight and attract them so much that they would prefer to shop for them online. Only 23 out of 50 people agreed to this factor that it drives them to shop online. The last factor was the better information available to the consumers on the net. This factor again showed a favourable response from the people. 30 people said that they get better information on the net while 11 were unable to decide about it and 9 disagreed to it. It could be said that this factor has an equally important role in driving the students for internet shopping as other factors.
- 34. 33 Finally the last graph shows the categories in which the consumers were felt they were comfortable in buying from the net. Each category was considered to be mutually exclusive of the others and out of 50, the favorable respondents were counted. The maximum response was for the „Railway/ Flight Tickets‟ category in which 44 people said that they were comfortable in buying it on the internet. The second place was taken up by „Books‟ where 34 students said that buying them on the net was comfortable for them. Websites like Flipkart.com have a major role to play here. This was followed very closely by „Movie Tickets‟ category having 33 people‟s acceptance. Bookmyshow.com and other similar website have made a major shift in customers online booking for movie shows. Next in the line was „Softwares/ Games‟ coming out with 27 favourable responses. „Music/ CDs‟ was the next category with the score of 24. Electronics, Greetings/ Cards and Jewelry/Accessories had an almost equal score of 17, 16 and 15 respectively. Apparels and Home furnishing were the last categories with the lowest score of 10 and 2 respectively and students very rarely preferred to shop for them online.
- 35. 34 e-Shopping: The long way to go The concept of e-shopping has indeed matured since the fire and ice years of 1998-2000. It now is no longer a euphoric technology; it forms the bedrock of most businesses. Banking, travel, entertainment, shopping and e-mailing now all form part of a new mode in which the society interacts. Internet retailing had been a hot topic for many years since the emergence of Internet, but the dotcom burst of year 2000 raised questions about whether this was a sustainable business. Experts were quick to write-off the virtual business model and claimed that the use of Internet would be limited to information exchange. Markets in western countries of America and Europe have warmed up to online shopping in a big way and now online transactions form a significant part of the total trade in these countries. Several factors have contributed to this phenomenon. Greater Internet penetration, fall in prices of hardware, fall in the price of Internet communication, development of better and more reliable technologies, and increased awareness among user are few of the prominent factors leading the change. During the last year, the number of people and hosts connected to the internet increased. In India too, Internet penetration became more widespread with bandwidth becoming readily available, Internet tariffs coming down and computer hardware becoming cheaper. The Indian Internet and E-commerce market however is nowhere close to its expected potential. E-mail applications still constitute the bulk of internet traffic in the country. Some of the various ways in which online marketing is done in India are company websites, shopping portals, online auction sites, e-choupal, etc.
- 36. 35 Conclusion The findings support the notion that while college students have strongly embraced the Web as a shopping tool, they are more apt to purchase some types of products on the internet than others. Interestingly, they were most likely to obtain services (travel tickets, movie tickets) than to purchase tangible merchandise. The results of the study indicate relationships between the factors that influence the students‟ attitude toward online shopping and their actual buying behavior. The findings suggested that factors like convenience, price and wider selection are important determinants of students‟ attitude toward online shopping. Moreover, they have a significantly positive impact on students‟ attitude toward online shopping. In addition, a further aspect of the study included online shopping perceived benefits. The findings of the study imply that students are looking for more convenience (time flexibility and money saving), cheaper prices and wider selection when they shop online, making them as the dominant factors that motivate students to shop online. On the other hand, there were not significant relationship between students‟ attitude toward online shopping and less time consuming and the ability to shop from anywhere in the world. This may be due to the low level of involvement of the young consumers who have experience in online shopping. Online merchants should heed these findings when they choose which benefits to develop and emphasize in the promotion of their internet site. Where buying books online is seen as convenient and as means of cost saving, it is not seen necessarily as a fun activity. Researchers should heed the notion that not all products are created equal when offered for sale on the internet. The idea of discovering what prompts someone to shop on the Internet must be tempered with the knowledge that the motivating factors will vary by product.
- 37. 36 The Future Prospects Students are an integral part of the “Net Generation” and practically speaking, all students were found to use the Internet. Over three-quarters own a computer. A vast majority subscribes to an online service provider. All have access to both computers and networks at their respective institutions of higher education. Evidence was gathered to support the fact that university-aged students spend, on average, between 8 to 12 hours per week online. While online, they use their computer capabilities for a myriad of activities including conducting research, communicating by e-mail, obtaining news, viewing maps and directions, downloading music, conducting job searches, as well as doing their banking and shopping. The projected increase in online consumers and expenditures leads marketers to believe that the possibilities for consumer value creation are greater in the electronic commerce marketplace than in the traditional marketplace. As the critically significant global university- aged student segment intensifies its online shopping behavior, it is extremely important for those marketing to these computer savvy individuals to understand the influences that affect them at each stage of the buyer‟s decisions process. Marketers must understand that the online buying process begins long before the actual purchase is made and continues after the sale. Thus, to effectively market internationally or locally to university-aged students, marketing strategy must focus on the entire buying process. Some of the key points for e-marketers to understand related to students‟ buying behavior are - Students are online a lot and they discover products and services that interest them during their time online. - Students search web sites for information about products and/or services that interest them. - Students evaluate alternatives while online and arrive at a final set of choices from which to buy while online. - Students make final product and/or service purchase decisions while online.
- 38. 37 - Students develop web site loyalty and will repeat purchases if their total shopping experience is satisfactory and they have confidence in and trust the site. - Students buy online more than the general population. They frequently spend money on books, airline tickets, music, event tickets, computer software and movies. - University-aged students have concerns about security and providing credit card information online, slow delivery, being targeted for repeat/future purchases online, out-of-stock merchandise, difficulty returning merchandise, and dissatisfaction with purchase tracking abilities.
- 39. 38 References Research papers 1. Narges Delafrooz, Laily Hj Paim, and Ali Khatibi; University of Putra Malaysia, “Students‟ Online Shopping Behavior: An Emperical Study” 2. Benjamin Chan Yin-Fah and Bei Hooi-Choo; Universiti Putra Malaysia, “Undergraduates and Online Purchasing Behavior” 3. Deborah H. Lester, Andrew M. Forman and Dolly Loyd; “Internet Shopping and Buying Behavior of College Students” 4. Terry Newholm, Peter Mcgoldrick, Kathy Keeling, Linda Macaulay & Joanne Doherty International Centre for Retail Studies in the Manchester Business School, UK, Department of Informatics, University of Manchester, UK, “ Multi Story Trust and online Retail Strategies” 5. Sinha. Piyush Kumar, “Using Transaction Utility Approach for Retail Format Decision” 6. M. Adam Mahmood, Kallol Bagchi, and Timothy C. Ford, “On-line Shopping Behavior: Cross-Country Empirical Research” Books 1. Ogden James R and Ogden Denise T, Integrated Retail Management-Indian Adaptation, Houghton Mifflin Co., 2005 2. Haag-Baltzan-Phillips, Business Driven Technology, Tata McGraw Hill Publishing Co. Limited, 2006 3. Hanes Tony and Bruce Margaret, Fashion Marketing, Butterworth Heinemann publications, 2002 4. Gilbert David, Retail Marketing Management, Pearson Education Inc, 2003 5. Kalakota Ravi and Robinson Marcia, E Business 2.0, Pearson Education Inc, 2004
- 40. 39 Articles 1. International Trade Forum, Issue 3, 2003 2. Survival Tactics, Advertising & Marketing, Nov 2000 3. Home is where Homepage is, Advertising & Marketing, Nov 2000 4. Accessing the Future, Advertising & Marketing, Nov 2000 5. Targeting the Consumers Life, Advertising & Marketing, Nov 2000 6. Business of Self Evident Truths, Advertising & Marketing, Dec 2000 7. Shopping or Stopping By, Advertising & Marketing, Jan 2001 8. Yet to happen in India, Advertising & Marketing, March 2001 9. Digitally Certified, Advertising & Marketing, June 2001 Websites 1. www.nua.com 2. www.creotec.com 3. www.capcomarketing.com 4. www.cyberatlas.internet.com 5. www.financialexpress.com 6. www.ebscohost.com
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Suman Saurabh
MBA Capstone Project
Current students.
Nimish Dubey MBA 2017-19 Title: Marketing Strategy for New Product Launch Organization: De’Dzines
Pulkit Bhardwaj MBA 2017-19 Title: Anti-counterfeiting Devices Organization: TransPacks
Shubham Taliwal MBA 2019-21 Title: A Study on Commodity Derivatives Market
Piyush Jain MBA 2020-22 Interest areas: Commercial Banking, Portfolio Management, Corporate Finance and analytics
Rajat Mishra MBA 2020-22 Interest areas: Financial Research and Modelling, Business analytics
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Summer (2020) Shweta Vishwakarma [MBA, IET Lucknow ]
Please send an email to [email protected] for any project requests.
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In the MBA program, one of the ways this is achieved is through our capstone projects. The capstone project is completed in the final year of
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CAPSTONE PROJECT REPORT Internet Shopping and Buying Behavior of College Students Prepared By Deepankar Dohare KHR2011PGDM21F133 PGDM
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