A STUDY OF PERCEPTION OF VENDORS ABOUT THEIR

BUSINESS IN AROUND LPU

Abstract
Describes a study designed to know the vendors perceptions about their business in o LPU.
The study sample comprised 30 vendors. A comprehensive profile analysis and a survey are
conducted to reveal key characteristics and patterns: the majority of vendors are well
establishing in LPU. They are satisfied with their business, because of favourable policies of
LPU for their business. They tell their earning are more here than that of outside in LPU.

INTRODUCTION

Perception refers to the way we try to understand the world around us. We gather information
through our five sense organs, but perception adds meaning to these sensory inputs. The
process of perception is essentially subjective in nature, as it is never an exact recording of
the event or the situation. The process by which an individual selects, organises, and
interprets into a meaningful and coherent picture of the world. Perception is the process by
which we organize and interpret our sensory impressions in order to give meaning to the
environment. As pointed out, a situation may be the same but the interpretation of that
situation by two individuals may be immensely different. Perceptions vary from person to
person. Different people perceive different things about the same situation. But more than
that, we assign different meanings to what we perceive. And the meanings might change for a
certain person. One might change one's perspective or simply make things mean something
else. Think of it as the process of becoming aware of the world around you through your
senses. Our senses play a critical role in perception and behaviour. They not only allow us to
perceive our environment, they also enable you to act in response to it.

DEFINITION
Perception is the set of processes by which an individual becomes aware of and interprets
information about the environment.
Perception is the way an individual understands and perceives a concept. This may be
anything ranging to a piece of art, to company terms and services. Furthermore, each
individual has a different perception of the world and the things in it. The study of divergence
between individuals' perception is an important area of study within an organization, and
relates to human relations and organizational behaviour.

VENDOR PERCEPTION

In today’s globalising economy competition is getting more and more. That means it
becomes more difficult for vendor to differentiate themselves from other offerings than ever
before. Not only is the number of competitive offerings rising due to globalisation of
production, sourcing, logistics and access to information. Many products and services face
new competition from substitutes and from completely new offerings or bundles from shops
outsiders. Since product differences are closed at an increasing speed and many vendors try
to win the battle for customers by price reductions, products and services tend to become
commodities.

The consequence for vendor is that they have to adapt their ways of competing for customers.
Traditionally, vendors have focused their efforts of customer relationship management on
issues like customer satisfaction and targeted marketing activities like event marketing, direct
marketing or advertising. Although doubtless necessary and beneficial, these activities are not
longer enough. They narrow the relationship between vendors and customer down to a
particular set of contacts in which the vendors invests its efforts. Most likely this will produce
not more than a satisfied customer who is well aware of the products offerings and has a
positive attitude towards them. However, a satisfied customer is not necessarily a loyal one.

If a customer is satisfied that means that a product of service has met his expectations and
that he was not dissatisfied by it. Customer satisfaction is doubtlessly very important. It is the
precondition for repeat purchases and it prevents the customer from telling others about his
disappointing experiences. A loyal customer, however, is more than a customer who
frequently purchases from a vendor.

OBJECTIVES
1. To study current scenario of businesses (vendors) operating in LPU.
2. To study the factors affecting the business of vendors in LPU.

RESEARCH METHODOLOGY

Research Design
Research is descriptive in nature.

Data is collected through primary as well as secondary method. In Primary Data survey
through structured questionnaire and was filled by 30 respondents of LPU. Secondary data
was collected through internet.

Sample Design

Data collection method

Convenience sample

Sample size

30
Sample universe
Lovely professional University

Data analysis
Data analysis will be done by making pie charts, graphs and tables.

LIMITATIONS
There are limitations in this study because we are not able to collect the data of big numbers
of respondents (vendors). Vendors did not want to give information accurately about their
incomes and they didn’t give accurate perception about their business in LPU. Secondary
data taken from websites and documents, which may not be correct or manipulated/distorted
by someone. Every vendor don’t have uniform interest during answering of questionnaire

Q1. TIME DURATION OF BUSINESS IN LPU.

INTERPETAION
From the above chart analysed that 40% of vendor there in LPU from less than 1 year and
20% respondents there in LPU from last 1 year. The pie chart shows that 20% vendor there in
LPU from last 2 years and 10% vendors there in LPU from 3-4 years.
Q2. Rate your business in LPU.
VERY GOOD

6
GOOD 20
AVERAGE 4
BAD 0
VERY BAD 0

INTERPETAION

From the above pie chart shows that 67% of vendors happy in doing business in
LPU and 20% respondents very happy in LPU. Overall everyone happy but no
one says bad or very bad. So the amount of business doing in LPU good.
Q3. Rate your profitability to do business in LPU.
INCREASI
NG 20
STATIC 4
DECREASI
NG 6

INTERPETAION

In this pie chart 67% vendors says their business profits increasing and 13%
says their business profits not increasing and not decreasing.

Q4. Type of Business.

BEVERAGES 4
FAST FOOD 20
STATIONARY 3
DEPARTMENTAL
STORE 1
INTERPETATION

From the above pie chart 67% vendors provide their services in fast food and
13% provide beverages services. 13% provides stationery services.

Q5. Products more demanding in LPU shops.

BEVERAGE
S 6

FAST
FOOD 18
PACKEDFO
OD 2

MEAL 4

INTERPETATION

As per the field study conducted on vendors it is seen that most demanding in
LPU among student is fast food and second highest demanding is beverages.

Q6. Monthly earnings.

LESS THAN 5000 4
5000-10000 2
10000-15000 15
15000-20000 4
MORE THAN
20000 5

INTERPETATION

From the above pie chart shows that 50% of vendors monthly earning lies
between 10,000-15000 and 5% shows more than 20,000 per month earning.
Chart also shows 13% vendors monthly earning less than 5,000.

Q7. Inspire to set up business in LPU.

FRIENDS 3
RELATIVES 0
ADVERTISEMENT 5
YOUR OWN
DECISION 19
OPINION LEADERS 3
INTERPITATION

From the chart this is very clear that the decision of set up business in LPU of
vendors are highly (63%) inspire from their own decision and 10% vendors are
inspired by friends & opinion leaders.

Q8. Factors influenced to set up business in LPU.

HUGE CUSTOMER 20
NEAR TO HOME 2
REVENUE/PROFIT
MARGIN 6
FAVORABLE POLICIES 2
INTERPETATION

The above graph shows that 20% vendors influence by huge customers and 6%
vendors influence by revenue/profit margin. This shows that only 2%
respondents influence by near to home and favourable policies of LPU.

Q9. Nature of contract in LPU?

MONTHLY RENT 30
YEARLY RENT
FIXED CONTRACT
VARIABLE CONTRACT

INTERPITATION

The pyramid clearly shows

that in LPU nature of
contract is monthly rent.
30% vendors say they pay
monthly rent to LPU.

Q10. Rate the policies of LPU.

FAVOURA
BLE 28
MODERAT
E 2
AGAINST 0
INTERPETATION

The above graph shows that 28% says the policies of LPU are favourable for
their business and 2% says policies of LPU are moderate. It’s clearly shows that
no one is against.

Suggestions

After completion of project on “PERCEPTION OF VENDORS ABOUT THEIR BUSINESS

IN AROUND LPU” I would like to give suggestions so that the vendors. They can meet the
customer satisfaction and provide them service quality by taking following measures-
1. Providing customer friendly environment.
2. Various schemes should be made.
3. Vendors should be polite and courteous.
4. More shops should have in Campus

References
Seth et, Etal,( 2008) “Managing the Customer Perceived Service Quality for their services
an Empirical Investigation”

Kalwani and Banumathy (2006) , “Consumer’s Attitude towards vendors Services.

Carol and Scherrer (2004), “Perceptions of businessmen”.

Bolten and Drew (2000), “A multistage model of businessmen services , quality, and value”.

Donald and Conlon (1999), “Businessmen perceptions about corporate world”

Loeng and wong (2005), “ A study of Hong Kong businessmen’s perception”.

 ANNEXURE

Dear Sir/Madam,

We are the students of M Phil Commerce. Kindly fill this questionnaire as it

helps in our research work .We are working on the Topic- study on the
perception of vendors about their business.

Name: _________________________________________________________________

Age: ___________________________________ Gender-- Male Female

Qualification: ______________________ Designation____________________________

Type of business _________________________________________________

Adress__________________________________________________________________

___________________________ Mobile no______________________________

Dear Sir/Madam,

We are the students of M Phil Commerce. Kindly fill this questionnaire as it

helps in our research work .We are working on the Topic- study on the
perception of vendors about their business.

Q1. From how many years you are doing business in LPU?

□ less than 1 year □2year

□3year □4year

□More than 4 years

Q2. How do you rate business in LPU?

□Very good □Good

□Average □Bad

□Very Bad

Q3. Rate the profitability to do business in LPU?

□Increasing □Decreasing

□Static

Q4. What type of Business you do?

□ Beverages □ Stationary

□ Fast food □ Photo state

□ Packed food □ Departmental store

Q5.Which products are more demanding in your shop?

□ Beverages □ Fast food

□ Packed food □ Meal

Q6. How much is your monthly earning?

□5000-10,000 □10,000-15,000

□15,000-20,000 □20,000-25,000

□more than 25,000

Q7. Who inspire you to set up business in LPU?

□ Friends □ Relatives

□ Advertisement □ Your own decision

□ Opinion leader

Q8. What factors influenced you to set up business in LPU?

□ Huge customer/ student base □ Favourable Policy of LPU

□ Proximity/near to home □ Revenue/Profit margin

Q9. What is nature your of contract with LPU ?

□ Monthly rent □ Fixed contract

□ Yearly rent □ variable contract

Q10. Rate the policies of LPU for your business?

□ Favourable □ Moderate

□ Against/ hindering