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“CONSUMER PERCEPTION TOWARDS DIFFERENT JEWELLERY BRANDS”
TO THE PARTIAL FULLFILLMENT OF REQUIREMENT FOR THE AWARD OF POST GRADUATE DIPLOMA IN MANAGEMENT
SUBMITTED TO MRS POOJA PATHAK LECTURER
SUMMITTED BY AKASH BARANWAL PGDM 2ND SEM PG/09/01
Basic objective of any business is to maximize profit. Energy, industrial or service oriented operation runs itself for the accomplishment of smooth return with least expenditure. For this purpose in this highly competitive world it becomes very fighting the existing conditions. Today companies work in a war zone of rapidly changing competition, technological important for the product or services to sell it with
advancements and other policies which keeps on changing by the regulatory authorities, so to run business successfully and profitably it is essential that company must keep re-examining their strategies through continuous market studies. A questionnaire was carefully conducted indifferent parts of prepared and thereafter an extensive survey was
Lucknow. Data and results obtained from this survey have been
carefully analyzed, incorporated in this report and all suggestions are based on this survey.
I take this opportunity to express my profound sense of reverence and gratitude to all those who have helped and encouraged me towards successful completion of this project. I am grateful to the Institute for giving me an opportunity to conduct a field survey on “consumer perception about different jewellery brands in Lucknow city”. I would like to convey my special thanks to my guide & mentor Mrs. POOJA PATHAK Lecturer, SMS Lucknow. I am also thankful to all my batch mates and other faculty members for their valuable suggestions.
I am indebted to my parents and my friends who gave me moral support in the course of completion of my project.
Akash Baranwal PGDM 2nd Sem
This project report has not been published anywhere else.DECLARATION I hereby declare that the information presented in this survey report is correct to the best of my knowledge. Akash Baranwal .
/Ms.CERTIFICATE It is Certified that this Field Survey Report entitled “……………… …………………………………………………………………” has been prepared by Mr. under my supervision.S. S. for getting it evaluated as per the ordinances governing the PGDM course. …………………………………………. of PGDM Semester-II class during the session ………………………….M.. . The Field Survey Report is up to the standard and I forward it to the Director. ………………... …………… …………… (Signature of the supervisor) Date: ………………………..
TABLE OF CONTENTS .
ANNEXURE 1-12 14 16 28-42 43 45 47 49 51 53 . SUGGESTION 7.CONTENTS 1. DATA ANALYSIS & INTERPRETATION 5. RESEARCH METHDOLOGY 4. CONCLUSION 8. LIMITATIONS 9. FINDINGS 6. OBJECTIVE OF THE PROJECT 3. BIBLIOGRAPHY 10. INTRODUCTION 2.
Generally. . the branded jewelry market alone would touch Rs 100 billion mark. And in 2006-07.7 per cent of the country's total merchandise exports. precious stones which give elegant look not so expensive and changeable after few years of wearing are preferred by the working class women.INTRODUCTION “Gold jewellery is often envisioned as a symbol of wealth and status. while large brands or organised retail form only 4 per cent of the overall market. People are more and more opting for branded jewelry than buying from a ‘family jeweler’. exquisite design and the impeccable style. make it nothing short of a treasure. Keeping Indian consumers preferences and tastes Arens Gold Souk International Limited has opened a special shopping mall for branded jewelry. all are showing interest in setting up their shops in India. There are about 30 major players marketing about 50 brands in India. Oysterbay. Vibrant looks. The sale of diamond jewelry in India has been increasing at a rapid pace of 25% every year over the last two years. Interestingly. The domestic demand for retail jewelry (both branded and unbranded) was estimated at Rs 490 billion in 2005. In the recent years. Indian consumer looks out for low-cost jewelry for daily wear and prefers to buy from trustworthy jewelers. The Indian gems and jewellery sector contributed to about 15 per cent of India's total merchandise exports during 2005-06. The company is planning to open about 100 Gold Souks in India in near future. D'Damas. according to a study by McKinsey. gems and jewellery segments shows highest potential of growth the growth of retail business in this area. jewelry market has witnessed tremendous change. traditional ornaments are giving way for branded designs and gold is replaced by diamonds and precious stones. with diamond jewelry comprising Rs 80 billion. one of the world’s leading jewelry retailer entered India in 2003 with a 50-50 joint venture with Gitanjali Gems Ltd. Damas opened its first retail store in Bangalore in 2005 and it increased its presence by another seven showrooms in short span of 5 months. De Beers and Carbon. Old.” India is the largest consumer of gold in the world. Buying pattern is also changing. Damas Jewelry. Gold jewellry is a striking piece of art and the aptly described as poetry in metal. Cartier. About 3lakh traditional retail jewelers hold 96per cent of the market share. Diamonds. innate to well crafted gold jewellery. It intends to open another 30 showrooms by 2006-07. By 2010. This change has created ample opportunity for the retailers. Zales and Harry Winston. it accounted for 13. Multi-national jewellery brands such as Tiffany. Government’s decision to allow 51per cent FDI in single brand retail store also helped many foreign retailers to enter into India. The branded jewelry segment has shown an astonishing trend. Some of the prominent brands in the market are Adora. increasing by 50% each year. Country’s jewelry market is mostly dominated by the unorganized sector. buying gold jewellery is also one of the best ways to invest hard earned money. Among the gold market.
No matter where and when. however. a glaring reality is that the traditional jewellery sector constitutes a significant chunk of the jewellery market. for example. as the jewellery is bought for auspicious occasions like weddings. material. A design is created keeping in mind ones production base. values. Fashion jewellery integrates many aspects from the tangibles to the intangibles and is evolved of an environment from purpose.the buying occasion. technique. user. While it continues to enjoy the position of being an enhancer of beauty and means of security. Fashion is now an important new sales driver and jewellery manufacturers are scrambling to adjust their product design to cater to this segment. and time. A recent study of youth in India. production. corporate identity marketing and packaging efforts.Jewelry retailers are exploring the vast India Gold and jewelry market. would gladly choose to stay connected with their cultural roots. like many other traditional product segments. is undergoing an astounding change of perception. innovative approaches in the creation of jewellery. the new-age consumer perceives jewellery as a personal accessory that manifests the wearer’s attitude. This study makes it abundantly clear that connecting tradition with trends is one of the keys to success in the Indian market. A host of variables. a segment consisting of those under 35-constituting a colossal 54 per cent of Indian population with high disposable income and a propensity to spend. Economic reform and the impact of television have suddenly opened the doors and latest global trends have found favor. Among Indian brands. but you cannot simply put the two together. it has begun to bubble with change. perception. systematic efforts are put in by Indian designers and companies to understand what the Indian jewellery market is about. economics. Change in Perception: In the globalized era. The concept of design is still new to India. suiting to the needs and expectations of the consumer. and it is not quite sure if serious. Jewellery in this segment is also a means of investment . This jewellery in most instances is handcrafted and bought from the family jeweler. personality and lifestyle. engagements. For thousands of years. Jewellery industry hasn’t yet got around to really understanding the consumer. Asmi is feeling specific. and Glitterati is star oriented. especially brand jewelry in their own way of branding. Change is an integral part of society and traditions need to be reinterpreted and restated with subtle modifications to suit the changing times. On the other hand. branding and the like. Nakshatra is product specific. Indian jewellery has remained unchanged with design dictated by regional and religious tradition. One can understand trends and design. the wearing occasion. to aesthetics. the economic strata of the target segment and the effect of regional and religious influences on all of them are now being juggled to find the winning mix. showed that young Indians today. This segment has a strong socio-cultural bias. who the Indian consumer is and what she really wants in a piece of jewellery. and rituals. The jewellery institutes hold design workshops for companies and they are often a complete revelation to most of the older generation who attend them. The decision to buy a piece of jewellery is more often a family decision than an individual choice. jewellery in India. despite being a part of the global fraternity. This is what will enable them to establish an edge over their competitors. It is imperative for jewellery manufacturers to recognize this shift and adopt new. a designer cannot proceed without considering all the aspects involved in turning a concept to an actual product on the counter. Over the last few years.
which is a global trend today. Most of the time it stayed in safety deposit lockers. The Indian USP Unlike many other fashion markets in the world. yoga and alternative therapies. The variations in design are actually asked for today by young brides of traditional and modern tastes. the Indian market demonstrates a great element of duality. A lot of companies are already experimenting with this blending concept. Thus the Rudraksha. Consequently. the same consumers exhibit contemporary urban traits and see . everydaywear designs. The interplay of traditional technique and international design trend is apparent in today’s Kundan (traditional 24-karat gem-set) jewellery. the traditional nine-gem or Navratna combinations and many other auspicious concepts have become very popular in the Indian jewellery market over the last couple of years. a social symbol that has remained unchanged in design for millennia. A classic example of mangal sutra. we remain quite rooted in culture and tradition and continue to revere and value jewellery as a time-honored possession. There exists a traditional Indian woman within every modern woman and jewellery has to appeal to both. On the other hand. Floral designs have always existed in Indian culture with different communities interpreting them in a myriad different ways. chanting mantras. particularly in traditional product segments like jewellery. There is an unimaginably vast opportunity for us to leverage this by packaging the context of tradition and culture in designs that are universal and contemporary in their aesthetic appeal. But the traditional jewellery was heavy and worn only at weddings or for religious ceremonies. At heart. Indian designers incorporate these motifs into current fashion so harmoniously that they are as current as the latest trends. As for the pendant. This blending results in a product that stand out in today’s world where globalization has resulted in products being massively homogenized and consequently losing their individual. white and gold beads. Indian consumers operate with two contradictory mindsets when deciding to buy a piece of jewellery. but one can now have interplay of black.Today’s consumers have a strong interest in birthstones and the beneficial properties of gems.that places it way beyond its sole function of adornment. including the jewellery segment. The basic concept of black and gold beads with a pendant the centre remains the same. Here branding and packaging play an important role in linking a newlook piece to its traditional inspiration. Some designers have already incorporated the linear earring design. Nakshatra successfully reintroduced it by modifying it into light. Apart from the subtle changes in the traditional jewellery market. the traditional beaded necklace worn by women to signify their married status. while keeping in mind traditional reverence and meaning. should not look very ethnic. Ganesha and religious swastika motifs.and future security traditionally constituting the wealth that a bride takes with her to her new home. The successful Nakshatra brand that launched by De Beers. which are more homogeneous in character. Any sensitive designer today is trying hard to establish a balance between tradition and trend. cultural and regional identity. spiritual and auspicious motifs have seen a great comeback in fashion. most designers observe that more and more people today are interested in horoscopes. This offers the biggest opportunities to designers they need to understand that traditional jewellery emphasizes a deep zymology and meaning socio-cultural. into their kundan-studded earrings. but it is important that the resulting jewellery. the beads were first replaced by diamonds but have now made a comeback. religious and psychological.
as it is easily traded as compared to diamonds (meaning investment is still a big jewellery purchase driver). complete makeover is still a way off. The product life cycle in India is much longer because of the high value costs involved. Rural India still has a mindset for plain gold jewellery. it is quick and ongoing. in precious jewellery.wear that you are going to design. This concept took off in the jewellery industry like a rage with designs featuring many different beaded necklaces and bangles at the same time. and the like. the Indian market is getting stronger by the day. most jewellery designers agree that it is vital to understand the holistic lifestyle practices of the customer. In India people stick to their personal tastes and do not kowtow to the imposed opinion. The jewellery buying pattern in the Indian market is also changing. It is felt during a recession. as the price points for these are much more affordable. travel. Moreover. All these provide valuable inputs to a designer. Nonetheless. While buying. jewellery is last on the list. they have become a necessity. Indian fashion does not surrender to the burdens of fallwinter or spring. Indians have a rich culture and heritage. Jewellery is far too integrated into lifestyles to get affected in one generation. unlike the west. A few seasons back. national and international fairs. Also. Although mobile phones are a luxury item. the evolution is much slower and most often. fashion weeks and travel to observe what people wear in terms of their garments and accessories. Other lifestyle products undergo four fashion cycles a year. It could also be because most of them cannot afford the routine makeover of the wardrobe another interesting feature is that the Indian consumer looks for the longevity in a product. the Indian woman today is economically independent and does not seek approval from her father or husband to buy jewellery as was the case earlier. Only between one and three per cent can afford to buy so frequently. . jewellery comes in last and goes out first. They opt for brands.summer influences. It’s important to watch the fashion segment for the colors. A good example of fashion trends affecting jewellery design was the layered look. change is gradual. in the urban segment. which continue to respect and follow despite changing modern attitudes. However in the fashion segment. There are several trends running parallel in the Indian market as far as the design life cycle goes. Hence the product supersedes the season. visit jewellery stores across the country. One need to study the necklines that are in vogue to decide the profiles of the neck. While in the traditional jewellery market. Designing To Follow Fashion: With so much change and so many variables to consider. but jewellery cannot follow this pattern. all the big design houses were suddenly wrapping up their models in many layers of different materials. Trends in jewellery change at much lower rate as compared to the rest of the luxury market due to the high costs involved. it will see a big change in the tastes of the Indian consumer within three or four years. and this is where the consumer is able to experiment. This could all change some two generations down. And while many point to the growing use of diamonds in Indian jewellery. Indians might see tough competition from other luxury items like high-end mobile phones. And rural India accounts for a major chunk of jewellery consumption. spread over years. styling and detailing on the garments. jewellery in the high-end segment tends to have a long-term appeal.trendy jewellery as an extension of their personality and lifestyles. thereby emphasizing their perceived worth accorded to a piece of jewellery. For instance. The good part is that they still have the luxury of time to work on it. it is very important to tie it to trends.
the underlying essence of a particular region is always visible in it. wood. the Indian market will have an identity of its own especially because of globalization. lifestyles and living patterns. the idea of fusion has brought the two worlds together. The characteristics of costume jewellery have penetrated the mainstream precious jewellery market and in the large cities.A designer has to also keep in mind the wear ability of the piece while being conscious of trends. In about five to ten years. Mumbai. Fashion designers empathize with this drift and thus are exploring more and more possibilities in terms of integrating regional tastes with the fashion dictates of today. one has to definitely keep these aspects in mind. Evolving Market India is hot today. companies and marketers are segmenting consumers in the context of their attitudes and values. one could clearly distinguish between a western and an Indian design. Designers and consumers both are more open to experimentation and there are a lot of new exciting materials being used today. And then there are collectors who go for customized pieces that are unique in design. Internationally. But today. When one designs for the Indian market. that is more willing to experiment with new designs and concepts. Geographic location and ethnic differences break it up into distinctly different markets with differing tastes. Also. suede. value addition is achieved with new stone settings and cuts. amalgamation of precious and nonprecious. fabric. tastes and preferences. Indians attach a considerable amount of emotional value to jewellery though this does not affect the design concepts of fashion jewellery. From the fashion weeks becoming popular in India. The south tends to stay with a more classic approach. gems are a no-no. to Indian design stores and Indian designer labels becoming fashion icons globally. while a south Indian bride would go for temple jewellery.conscious individuals who are ready to experiment with tradition. surface finishes and textures on metals and cross cultural forms. identifiable customer base in cities like Delhi. Plus. craftsmanship or technique. In Chennai. India on the path to becoming a design centre for the world. a variety of colors and types are in vogue. and prefer handcrafted or artistically appealing jewellery. material. Delhi definitely is very quick to catch on to trends which are bold and visible. the distinction is blurring. Bombay is more style oriented where people are more aware of what works for them individually and whether it suits their personalities. But even after factoring all the variables. Hyderabad and Bangalore. and tastes are moving from local to global. the jeweler does not now hesitate to display these as his unique sales proposition. Indians have traditionally preferred emeralds and rubies for the color in their jewellery but that of late. Hot. There is also another segment of people who are artistically inclined. the contemporary jewellery segment responds closely to the changes in the global market and the consumer base is not wholly segmented by geographic location or ethnic groupings. leather. most designers will tell you that there is no such thing as a single. Indian designs are readily accepted in the west and vice versa. plastics and other unusual combinations are commonly seen. But. The market for designed goods is fast evolving. Look at a bride from any particular region of India. However. there is a specific. Though jewellery is forever evolving. tourmaline and even synthetics if they give them the look they want. Italian rubber. homogenous Indian jewellery market. Even the most modern north Indian bride will shun international brands on her big day and opt for culturally and traditionally rich embellishments like Kundan jewellery. . There is a very small segment emerging of highly fashion. Today Indians want topaz. Five or ten years ago.
Now it’s the turn ofeasternization in the west! To sum it all up. the need to exude confidence and to stand apart. but that is not the case today. The Indian jewellery market has meta.set from investment to style statement the longing for a balance between tradition and trend. wellexposed. while white gold is being accepted by middle and higher-end consumers. the balance between economic criteria ant aesthetics as well as a constant hunger for innovation. advertisements even articles about them. attitudes and styles right into all of Indians homes. Consumer perception is evolving with so many brands and jewelers to choose from. which brings alien ideas. So far Indians were intrigued by the advent of westernization in the east. It is an exciting period of transition for everybody in an industry that was somnolent for millennia. . Femina. Television fashion trends get replicated particularly in middle class or small town homes. Information is just few clicks away and one wants to emulate the styles seen on the ramps of Paris.The last two years have shown a shift from a preference for diamonds to colored stones. elite class is less likely to be driven by its impact. Electronic Influences: A major influence on design and style in India today is television. The internet too has contributed t the changes in Indian jewellery tastes. as this class is in-sync with international fashion trends and global signer brands. About 10 years back.morphosed in the last decade. Woman’s Era. Minds and pockets have opened up and the consumer wants global and local to go hand-in-hand. today’s jewellery designer for the Indian market needs to be aware of factors like the shift in the mind. and you’ll find jewellery designs. There has been a noticeable increase in demand for diamond mangalsutra pendants after the leading ladies of some of the most popular serials started wearing them. Magazines dictate fashion trends more than television magazine like Cosmopolitan. no fashion magazine featured jewellery. the need to understand the emotional connection. While TV as a medium may cut across consumer groups internationally-travelled. TV has been a major driver of change.
to elegant dewdrops for boardroom belles and nine-to-five fashion for working women. has 85 per cent of sales revenues coming from diamonds. the marketing arm of the De Beers group. India is now DTC's third largest market. Both style and quality are important when selecting a diamond. Whether dazzling white or sparkling champagne. and fitting gift for him to receive in a country where the rock is fast becoming the ultimate style statement. they are the stone for all occasions—from office parties to page three dos. From Sushmita Sen flashing an eleven-carat stone on her finger. This year. Contrary to perception. nor are they a once-in-a-lifetime indulgence. . in value terms the highest share in any country. I take diamonds! We may be off the gold standard someday!" Diamonds are not restricted to the celeb set anymore. Gitanjali Gems. it's the young girls spending their parents' money who go for complete sets. compared to 15 per cent from gold jewellery. on the back of a 30 per cent growth in 2005. depending upon the cutting. he carried with him a glittering Nakshatra pendant presented by the Diamond Trading Company (DTC). Exports went up 15 per cent last year. demand for diamond jewellery in India will have grown 40 per cent. to set its sights and hopes even higher. which recently mopped up Rs 300 crore-odd through a public issue. So what's making diamonds overtake gold as the Indian woman's best friend? Compared to mass-produced gold jewellery. The largest volume of purchase occurs in the Rs 1-3 lakh range. What lends a special touch to the uniqueness is that every stone is between a billion and three billion years old. accounting for seven per cent of total business after the US (50 per cent) and Japan (13 per cent). Over a million people are employed in this business across Gujarat and Maharashtra. each stone can be unique.000-crore gem and jewellery industry. Bet you didn't know that! As a result. A gift fit for a prince. And India will easily top that growth. India heads the DTC chart. Competition is intensifying in the $70-billion global diamond jewellery market. while women buyers prefer individual pieces. because jewellery has always avowedly been a part of the country's tradition and lifestyle. These are facts that allow DTC. But in terms of growth. as rising wealth in Asia buoys demand. Diamonds account for nearly 70 per cent of the Rs 60. which supplies half of the rough diamonds sold worldwide as well as half of all diamonds sold in India. That is getting increasingly visible in the profitline too—more than 55 per cent of its profits come from diamonds. Indian women have taken Mae West's wise words to heart: "No gold-digging for me. Compared to massproduced gold jewellery. for instance. In volume terms.SOME FACTS ABOUT GEMS AND JEWELLERY When Britain's Prince Charles returned home after his recent trip to India. the industry is witnessing a surge in marketing and branding. each diamond can be unique and a billion years old.
90% in terms of pieces and 80% in terms of carats. Every 11 of 12 diamonds sold around the globe are processed in India. fashion appeal and confidence in their value. The Indian consumer has lately become the focus of every retailer's eye. thanks mainly to a revolution in designing. Today. The gems and jewellery sector contributes nearly 55% of the world’s net exports of cut and polished diamonds in value. Economic boom coupled with . with its cut and polished diamonds. one of DTC's sightholders (experts who select and purchase rough diamonds). nongold jewellery and fashion jewellery. and a growing trend away from unbranded. believes that with increasing disposable income. DTC spends about Rs 30 crore a year on brand promotion. However. chairman. diamond jewellery has become Value For Money! As in international markets. rather than price. India has continued to maintain its tradition of diamond cutting and thousands of people are involved in this skilled occupation. With the right policy and regulatory framework. With gold prices zooming for the past one year. worth Rs 100 crore as the umbrella brand. The burgeoning retail industry in India is instrumental in innovatively marketing and branding diamonds and traditional jewellery. Says Mehul Choksi. where it has been largely successful. and not as an investment. Gili. colored gemstones. increase employment and create new breed of entrepreneurship. owns reputed brands like Asmi. branded jewellery is now being positioned in India as a lifestyle and personality statement. And diamonds have become more affordable than before. very premium Victoria's Desire.it has virtually no mines today. The idea is to create a high aspirational image. sky is the limit for the industry. Sangini. gold jewellery. the company's marketing director for India. and D'damas. making inroads in this sector and contributing to the nation’s economy. apart from the new. India accounts for almost 50% of the international market.the fabulous Kohinoor is an Indian diamond . Gitanjali group: "The runaway demand for diamonds is a result of three factors: strong communications. irrespective of where these are mined. " And this has happened despite diamond prices rising by around 15 to 20 per cent every year. India could establish itself as a brand in the international Gems & Jewellery market. heavy jewellery towards modern.Gitanjali. Though India was known to have diamond mines many centuries ago . light yet expensive stuff. which is useful if you're buying it as an investment or are interested in reselling or exchanging it at a later stage. is a factor. proof being the international brands flocking in to set up franchises in India. Apart from being the world’s largest diamond processing (cutting and polishing) country with an 80 per cent share in world market India’s favorable trade policies have made India the hub for gems and jewellery. The increasing market presence of diamond companies is mirrored in their stock prices as well as the commodity markets. where 90 per cent of the jewellery is sold as a fashion accessory for everyday wear. The rising number of millionaires in India and the surge in consumption of luxury items will only make these rocks shine brighter than ever. DTC is also developing the Nakshatra brand. along with Orra and Arisia. branding and marketing. All branded jewellery comes with certification. India and diamonds are the best known combination throughout the diamond industry. pearls. Branding also attaches faith to the product. Cherie Tandon Saldanha. Affordability.
Out of which nearly 600 tonnes goes into making jewellery. However the export of diamond-studded jewellery from India is merely 4 per cent of the total export of gems and jewellery worth US$ 18. This income is spread in the rural areas also. According to The World Gold Council (WGC) total gold supply in the second quarter this year stood (Q2FY08) at 840 tonnes. Add to that the insatiable Indian craving for gems and jewellery. Focused marketing creating awareness and demand for the products.06 billion. India has seen a significant growth in disposable incomes as a result of the economic growth that it has been enjoying. etc have already set up shops in India. the . These stores would carry a merchandise mix and are in the range from 600.3 per cent of world jewellery sales. According to the Tata Statistical Outline of India – 2005-06. Due to the Economic boom in the country.retail sales explosion has made a smooth pathway for all those who understand the art of retail in India. retailers work with multiple formats – currently they are partnering with local jewellers and these jewellers retail their brands. whereas the demand was 944 tonnes. Players like Reliance.to 1. Since the demand of diamond-studded jewellery among Indian consumers has risen sharply. The booming domestic market along with export advantage of the industry and the Government's decision to allow foreign direct investment of up to 51 per cent in single brand retail stores has attracted a large number of players to the sector. accounting for 8. having rapidly acquired a niche over the past few years. Brand building. Wal-Mart will provide the back-end services such as sourcing and supply-chain management for the Bharti group’s planned retail formats across the country as well as an initiative to supply the countless small. around 60 per cent of the rural income is from north and east. convenience stores that dot the countryside all across India. according to industry experts. innovative product range creating excitement and expanding the category as well as transparency and adherence to best practices will help build consumer confidence. The Reliance group plans to spend $5 billion in new retail formats including malls and combined service and retail formats along the evolving Indian highway system. Branded jewellery is the new mantra in the market. commonly known as the ‘shop in shop’.reaching out directly to the consumer.5 billion in fiscal 2006-07. and creating brand identity is the focus of every retailer in India at present. India is emerging as a very big Consumer Market for jewellery and other luxury products and offering a very lucrative opportunity for major brands to establish presence in the Indian market. Increasing purchasing power and disposable incomes of India’s middle class has resulted in consumption growth of this industry by about 11 per cent in the five-year period preceding 2006-07. The surprising thing about retail investment is that about 20 per cent of retail effort – in a planned manner – is targeted at rural areas. pantaloons. A study by KPMG reveals the Indian jewellery market to be US$ 13. Retailers are also looking at mobile store concepts and thinking of innovative ways to connect to the consumer. Indian retailers see a huge jewellery consumer market in India but there is a slight speculation that they might soon face stiff competition from within as well as from international brands who are rapidly setting up chain stores. Depending on the size of the market. and the demand will skyrocket to US$ 20 billion by 2010 and US$ 30 billion in 2015. India consumes nearly 800 tonnes of gold accounting for about 20 per cent of the world gold consumption. which is defined as towns with a population of less than a million.000 square feet. Wal-Mart. Global behemoth WalMart has also officially entered India with a strategic tie-up with the Bharti group.
it had been used as money.o. in sculpture. gold must be alloyed with different metals such as silver. in Surat's US$ 11. The Indian retail scene is set to flourish and there is no looking back for those who know how to sell jewellery to an Indian woman.30 583 10 41.50 and import of gold of 18 carat and above under the replenishment scheme.b. The government has offered some concession to the industry by lowering import duty on platinum from US$ 13. Also mixing of gold with other metals affects the colour. copper. . The purity of gold is measured in terms of karats. yellow gold.67 417 9 37. Diamantaires. are eyeing jewellery manufacturing in a major way. and so forth.67 917 18 75. aluminium in order to get different shades of gold i. white gold. The karat scale is used for measuring the proportion of gold in jewellery. One of the oldest precious metal in the history of mankind. 18 karat gold is 75 % gold and 25 % alloy.g. in jewellery. rust or corrode. since jewellery is a part of Indian tradition and customs. 18 karat gold: 18/24 = 0. nickel. value of exports.03 – exempting rough coloured precious gems stones from customs duty at the first stage itself.b. Accordingly. a move aimed at further promoting the exports of studded jewellery and platinum jewellery. There is increased duty-free import of commercial samples of jewellery to US$ 2. gold is considered the most important metal in jewellery making.50 375 24karat denotes pure gold. As pure gold is soft. Duty-free import of consumable metals other than gold and platinum up to 2 per cent of f.industry should focus on the domestic market.00 750 14 58.o. instead of claiming reimbursements later. value of exports and duty-free import entitlement for rejected jewellery up to 2 per cent of f. palladium. after DTC has decided to prune supply of rough diamonds to India. Gold does not tarnish. If India becomes a manufacturing hub for jewellery as well as a consumption market it will just prove India’s strength in both sectors.e. Gold Information Gold is a highly sought-after precious metal in the world. bronze.29 billion diamond industry. as a store of value. Rough. in medicine. green gold. it is frequently mixed or alloyed with other metals in order to make the gold harder to be used for jewellery. A karat is the percent of pure gold in the alloy..750 = 75% pure gold). semi-precious stones are already exempt. One can determine the percentage of pure gold in any gold piece by dividing the karat by 24 (e. in electronics and for ornamentation. Karat Percentage Pure Gold Fineness (European Marking) 24 100 999 22 91. Due to its wonderful qualities and its magnificent luster. For example.82 per 10 gms to US$ 5. Pure gold is designated as 24 karat.
Copper Silver. Copper Copper.In India. Zinc. Silver Nickel. 18 karat and 22 karat are the most popular forms of gold jewellery. The following list includes the most common colours of gold alloys and the metals used for producing them: Color of Gold Yellow Gold White Gold Green Gold Rose Gold Additional Metals Used Copper. Silver . Gold alloys can also affect the colour of gold. The 18 karat is popular because of its rich colour and durability. Zinc.
Comparison between local and branded jwellery regarding their market share.OBJECTIVE OF THE PROJECT To find consumer perception towards jewellery from various brands available in the market. To find dominating player of this industry and rivals. To find existing competition between local brands and different branded firms. . acceptability and popularity.
Research can be defined as a scientific and systematic search for pertinent information on a specific topic.
Types Of Research:- Exploratory Report Types Of Data To Be Collected:- Primary Data & Secondary data Primary Data Collection Method:- Survey Primary Data Collection Techniques:- Personal Interview, Questionnaire Sample Unit:- Gomti Nagar, Lucknow Sample size:- 70 Sampling Techniques:- Simple Random Sampling
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COLLECTION OF SECONDARY DATA:
Branded Gold Jewellery Market in India: The Gold Rush
In the late 1990s, the Indian jewellery market witnessed a shift in consumer perceptions of jewellery. Instead of being regarded as only an investment option, jewellery was being prized for its aesthetic appeal. In other words, the focus seemed to have shifted from content to design. Trendy, affordable and lightweight jewellery soon gained familiarity. Branded jewellery also gained acceptance forcing traditional jewellers to go in for branding.
Given the opportunities the branded jewellery market offered; the number of gold retailers in the country increased sharply. Branded players such as Tanishq, Oyzterbay, Gili and Carbon opened outlets in various parts of the country. Traditional jewellers also began to bring out lightweight jewellery, and some of them even launched their in-house brands. However, the share of branded jewellery in the total jewellery market was still small (about Rs. 10 billion of the Rs. 400 billion per annum jewellery market in 2002), though growing at a pace of 20 to 30 percent annually. The branded jewellery segment occupied only a small share of the total jewellery market because of the mindset of the average Indian buyer who still regarded jewellery as an investment. Moreover, consumers trusted only their family jewellers when buying jewellery. Consequently, the branded jewellery players tried to change the mindset of the people and woo customers with attractive designs at affordable prices.
Gold Jewellery Market in India
Before the liberalization of the Indian economy in 1991, only the Minerals and Metals Trading Corporation of India (MMTC) and the State Bank of India (SBI) were allowed to import gold. The abolition of the Gold Control Act in 1992, allowed large export houses to import gold freely. Exporters in export processing zones were allowed to sell 10 percent of their produce in the domestic market. In 1993, gold and diamond mining were opened up for private investors and foreign investors were allowed to own half the equity in mining ventures. In 1997, overseas banks and bullion suppliers were also allowed to import gold into India. These measures led to the entry of foreign players like DeBeers, Tiffany and Cartiers into the Indian market.
5 carat to 18. Oyzterbay. 95% of which was used for jewellery.carat Gold jewellery in 1997.33 percent pure gold 4. Su. Over 80% of the jewelers sold Gold jewellery ranging from 13. According to a survey done by a Bureau of Indian Standard (BIS). which marketed Tiffany range of products in India. a Mumbai based jewellery exporter. Other players who entered the Indian branded Gold jewellery market during the 1990s and 2000-01 included Intergold Gem Ltd.In the 1990s. Jewellery was fabricated mainly in 18. Cartiers entered India in 1997 in a franchise agreement with Ravissant. Beautiful.carats as 22. 855 tons were consumed a year.carat was of a lesser quality. launched its collection of Diamond and 22. single shop operations. Dagina. Gitanjali jewels also started selling 24. The Mumbai based group. while Gitanjali jewels. 24 Carat 22 Carat 20 Carat 18 Carat 2 Carat 1 Carat 100 percent pure gold 91.33 percent pure gold 75 percent pure gold 8. This led to a highly fragmented and unorganized jewellery market with an estimated 100.carat jewellery. . In 2001. Titan sold Gold jewellery under the brand name Tanishq. 22 and 24 carat Gold as Hallmarking was not very common in India under caratege was prevalent. launched its own range of studded 18. mostly family-owned.carat Gold jewellery.000 retailers.carat Gold jewellery in association with a Thai company.carat Gold jewellery under the brand Gili.Raj (India) Ltd. most Gold jewellery advertised in India as 22.66 percent pure gold 83.000 workshops supplying over 350. The bulk of the jewellery purchased in India was designed in the traditional Indian style. sold 18. the number of retail jewellery outlets in India increased greatly due to the abolition of the Gold Control Act. Carbon and Tribhovandas Bhimji Zaveri (TBZ). Pranda.166 percent pure gold The late 1990s saw a number of branded jewellery players entering the Indian market. India had the highest demand for gold in the world.
BRANDED JEWELLERY FIRMS .
Tanishq is considered to be a trendsetter. Tanishq retailed its jewellery through 53 exclusive stores across 41 cities. In 1998. Tanishq challenged the age-old jeweller's word with TATA's guaranteed purity. with an exquisite range of gold jewelry studded with diamonds or coloured gems and a wide range of equally spectacular jewelry in 22Kt pure gold. When Tanishq was launched. Tanishq planned to open 70 stores by the end of 2003 and offer a range of 'wearable' products with prices starting at Rs. 400. Tanishq is the jewelry business group of Titan Industries Ltd .66 percent share of the total jewellery market and a 27 percent share of the branded jewellery market. This year marks a decade of successful innings for Tanishq. Tanishq also introduced professional retailing in the dis-organised Indian jewelry bazaar. Tanishq has set up production and sourcing bases with through research of the jewelry crafts of India. the 1.000 sq. Realizing that such jewellery did not sell well in the domestic market. Diligent care and quality processes ensure that the Tanishq finish is unmatched by any other jeweller in the country. With sales of Rs.BRANDED JEWELLERY FIRMS: TANISHQ: Tanishq is India's largest. Tamil Nadu. Tanishq today is India's most aspirational fine jewelry brand with 91 stores in 64 cities.promoted by the TATA group. Every product at Tanishq is painstakingly crafted to perfection. To meet increasing demand. factory is equipped with the latest and most modern machinery and equipment. It is a story of a successful Indian enterprise. as well as. Tanishq began with 18-carat jewellery. Exquisite platinum jewelry is also part of the product range. . By 2002. marked by its completely localized front end as well as back end. ft. When it was launched in 1995.66 billion in 2000-01. the 18-carat jewellery range was expanded to include 22 and 24-carat ornaments as well. It exploded the market with facts about rampant impurity across India. Tanishq has arrived in the Indian jewelry market. without worrying about the purity of the jewelry they are buying. It introduced technology-backed challenge in a category completely governed by individual trust. The factory complies with all labour and environmental standards. Tanishq decided to set up its own chain of retail showrooms to create a distinctive brand image. India's most respected and widely diversified business conglomerate. which has delivered value to its customers and shareholders in a complex category. where women can shop with comfort and peace. With retail sales of 1200 crore last year and gunning for 2000 crores this year. Tanishq had a 0. most desirable and fastest growing jewelry brand in India. Among the branded jewellery players in the Indian market. jewellery at Tanishq is crafted in one of the world's most modern factories. 2. Located at Hosur. it sold most of its products through multibrand stores. 35. Started in 1995. Tanishq introduced innovations like Karatmeter. the only non destructive means to check the purity of gold. select from the best jewelry collections available in the Indian market.
manufacture of plain and diamond studded gold and platinum jewellery and its marketing and domestic retailing. The company's products were also made available through a mail-order catalogue.000 through lifestyle and department stores across the country to increase accessibility among its target segment. The designs combined both the Indian and western styles and motifs. it is today one of the largest diamond exporting companies in India. pamphlets and a few advertisements targeted at teens. Gili had a 0. Gili soon realized that just pushing its product was not enough. pendants. Gili offered a wide range of 18carat plain gold and diamond-studded jewellery. it also had to customize its products for special occasions. The collection was promoted at college campuses with banners. today has one of the largest fully integrated diamond and jewellery manufacturing plants in the country.all ensuring the group an enviable advantage in the jewellery arena. 10000 price segment and keeping in view the teenage population. In 2000.0. the Gili Gold range was introduced. When research conducted in February 2000 showed that there was a big gap between the Rs. it launched a Diamond Heart Collection specially designed for Valentine's Day. produce and sell highquality jewellery brands worldwide & helps the customers in getting the maximum Value for Money in the process.4 percent share of the branded jewellery market. and the kind of pocket money they had. its manufacture. The very basis of their existence is to successfully develop. Presently the Gitanjali Group has highly modernized diamond cutting and polishing facilities at 5 locations in India and globally diversified manufacturing operations in Bangkok. Gili launched a collection of traditional Indian ornaments made of 18carat gold. has always been at the threshold of boosting the production of quality jewellery. designed for the contemporary Indian woman. Gitanjali has four decades of experience. The Group. import and export of diamonds. the 15 to 30 age group. Gili Jewellery was established as a distinct brand by Gitanjali Jewels. All Gili products came with a guarantee of diamond and gold quality. This range included rings. With sales of Rs. strategically positioning itself as the leading diamond studded jewellery-manufacturing company. The Gitanjali Group is engaged in the business of sourcing rough diamonds. This collection consisting of tiny. earrings. Following this. Gili launched its 'diamond heart collection' targeted at teenagers and priced between Rs 500 and Rs. Having received over 50 National and Council awards from the Ministry of Commerce for outstanding exports. heart-shaped diamond jewellery was well received by teens (Refer Exhibit VI). In 1997. As Jewellery exports form one of the largest contributors to the foreign exchequers.14 billion for the year 2000-01.2500. 500 and Rs. soon after the abolition of the Gold Control Act by the Indian government. Hong Kong. Gili brought out a collection targeting teens. 1000 and Rs. necklaces and bangles made of 24-carat gold. which has been a pioneer in the branded jewellery industry. the jewellery major Gitanjali. is one of Indiaâ€™s high-end contributors to the foreign exchequer as well as a major player in the domestic market. 40. which has obliquely proved to be an excellent. being one of the earliest diamond houses in India. Gili distributed its jewellery priced between Rs. USA and Japan.GITANJALI: Gitanjali Group a 5000 crores company. In 1994. Special packaging. In 1999. Vietnam and China and a marketing network spread across Europe.03 percent share of the 400 billion jewellery market in India and a 1. catchy advertising and extensive press coverage . branding and marketing strategy backed by a formidable retailing network .
” . Chairman and Managing Director. HIGHLIGHTS Q3 FY10: Jewellery • EBIDTA • Sales turnover increased by 60% to 1. in Q3 FY10 Profit registered a growth of 51%. Mr. Gitanjali Group said. Gili also made special promotional offers during festive seasons like Christmas and Diwali. Gitanjali jewels opened a jewellery salon. as compared to Rs 201 cr. 1892 cr. For this. 307 cr. 000. Introducing additional and promising jewellery brands and the focus on retail expansion has further helped in gaining market share for the group.223 cr. in Q3 FY10 gone up by 44% to 102 cr.098 cr. Having captured the low price point market of Rs. in nine months period FY09 EBIDTA gone up by 37% to Rs.2000 to Rs. the company focused on penetrating the premium market of customized jewellery.contributed to the success of the collection. Mehul Choksi. to provide customized jewellery to clients in India. NINE MONTHS FY09 • • • • Jewellery Sales turnover increased by 43% to Rs. Gianti. NINE MONTHS FY10 Vs. January 30. as compared to Rs 120 cr. one of India’s leading integrated diamond and jewellery retailing and manufacturing company. 139 cr. from Rs. 2010: Gitanjali Gems Limited. stood at 91 cr. announced its results for the third quarter ended 31 December. “Third quarter results are in-line with our focus on extention in the downstream. 2703 cr. registering an increase of 41% Commenting on the Company’s performance in third quarter of financial year 2010 and business outlook. the flagship company of Gitanjali Group. Operating • PAT of • Gems • Q3 FY10 stood at 41 cr registering an increase of 39% and Jewellery Sales volume grown to 1812 cr. reported a growth of 63% Mumbai.10. in 2000. 2009 of FY 10. as compared to Rs. in nine months period FY09. in nine months period FY09 PAT of nine months period FY10 stood at Rs.283 cr. in nine months period FY09 registering an increase of 16% Operating Profit of nine months period FY10 stood at Rs.
USA is a largest jewellery consuming country and 45% of worldwide diamond jewellery sales are made in the United States.e. Samuels and Rogers of Gitanjali are the 8th largest branded jewellery retail chain in US. Gitanjali holds 65-70% market share These industry dynamics has compounding effect on the growth of the Gitanjali Gems. The new collection includes World of Solitaire. 10% of which is branded jewellery market accounts for USD 500 million Overall Industry is growing at the rate of 15-18% and where as share of diamond jewellery is growing at 18-20% Out of 10 leading gems and jewellery brands in India 6 of them are under the Gitanjali umbrella. across all the market segments Net Profit has gone up because of shift in market from wholesale to retail. Gitanjali Menz. Retail business is a major Contributor in Gitanjali’s revenue. World of Silver. INDUSTRY • • • • • Overall Gold and jewellery industry is estimated to be about USD 35 billion. Maya Bridal.000 square feet of retail space in Northern India. including Samuels and Rogers. i.GITANJALI RETAIL BUSINESS • • • • • • Gitanjali has strong retail presence in the world’s largest markets for jewellery. ME Solitaire. . Bezel and many more. USD 4 billion. share of Gitanjali growing at that pace. out of which 12-15% is constituted by diamond jewellery market. The Salasar stake gives Gitanjali Lifestyle 10 multi-storey stores with 200. The group has introduced many promising brands to its bouquet. Gitanjali’s integrated supply chain business model has given an advantage to survive and post profit despite of US recession. and now has about 137 stores in Centre and across USA. Gitanjali made a strategic acquisition in USA. RETAIL STRATEGY • • • • Gitanjali’s strategy is to increase the market share of various brands and its positioning in the market. being expanded to 200 stores in the near future. Strategy is to generate demand for branded diamond jewellery in the future Gitanjali has also acquired a 76% stake in Salasar Retail and will roll out multi-format retail stores under the ’Maya’ brand. In modern retail. Flagship product brands of the company are able to convert themselves into retail brands. Maya. Gitanjali retail business has spread through all channels and in all geographies. In FY 2007-08. Share of branded diamond jewellery in India is growing by 25-30% and therefore. Gitanjali has over 2000 plus retail outlet across India and in the process of expansion in tier II and III cities to cater to new segment of the customer.
further certifies the diamonds. a world renowned. . and every piece of jewellery comes with a special certificate of authenticity assuring of both the diamond and gold content of the piece. D'damas is a sub-brand that combines international quality with Indian values. D'damas is committed to the highest levels of customer satisfaction. conceptualized and created by an in-house team of award winning designs. It has gold and diamond studded jewellery matching various lifestyle. A joint venture between Gitanjali Gems and the Dubai based Damas Group. Each sub-brand under D'damas offers stylized and contemporary designs. tastes and to suit every occasion. which is headquartered in Antwerp.D’DAMAS: D'damas is one of the most popular jewellery brands in the country today with a presence in over 159 towns and cities. occasion and price points that cater to diversified customers. Their strength in design has been recognized repeatedly with D'damas designers having won a number of design awards. D'damas' vast variety of brand allows every customer a choice of jewellery to reflect her personality. D'damas jewellery is accompanied with an IGI certificate & Hallmarking.
UNBRANDED JEWELLERY .
There are some small shops also like Priya jwellers. There are some specific shops of unbranded jewellery in Lucknow like Khunkhun ji jewelers. Jewar kothi etc. the middle class families often purchase from them. . Alankar abhushan bhandar.UNBRANDED JEWELLERY: The share of unbranded jewellery market in India is still more than 90% of the total jewellery market branded and unbranded. the public trust more on these.
DATA TABULATION. ANALYSIS & INTERPRETATION .
In the next phase the information collected from the Respondents were analyzed regarding the various factors influencing consumer perception about different jewellery brands like Age. Buying decision in the family and their preference. Retail shops. Jewellery segment. Sex. their market shares among buyers in Gomtinagar area was analyzed.DATA TABULATION ANALYSIS AND INTERPRETATIONS: In this chapter. data were collected from 70 Respondents. As the first phase of this study. Trust. consumer perception about different jewellery brands. Jewellery type. Occupation. .
RESPONDENTS 36 34 OF PERCENTAGE MALE FEMALE 51.43 41. Fig.GENDER WISE CLASSIFICATION OF JWELLERY BUYERS Table 1: GENDER NO.57 Inference: Out of 70 respondents 36 respondents are male and 34 respondents are female. 1 .
of Respondents BELOW 20 15 21-30 28 31-40 24 41-50 1 ABOVE 50 2 .AGE WISE CLASSIFICATION OF JWELLERY BUYERS Table 2: Age Limits No.
2 . 24 respondents are 31-40 age group.Inference: Out of the 70 respondents’ age of 15 respondents are below 20. Fig. 28 respondents are 21-30 age group. 1respondent is 41-50 age group. 2 respondents are between the age group of above 50.
OF RESPONDENTS STUDENT 17 BUSINESS 14 SERVICE 18 HOUSEWIFE 21 .OCCUPATION WISE CLASSIFICATION OF JWELLERY BUYERS Table 3: OCCUPATION NO.
Fig. 14 are doing business.Inference: Out of 70 respondents 17 are students. and 21 are housewives. 18 are in service. 3 SEGMENT WISE JWELLERY BUYERS .
71 1.30 21.43 0 Inference: .Table 4: SEGMENT GOLD SILVER DIAMOND PLATINUM A.43 5.14 14. OF RESPONDENTS 40 10 1 5 4 1 0 PERCENTAGE 57.D OTHERS NO.
4 TYPE WISE CLASSIFICATION OF JWELLERY BUYERS . 10 buy silver. 15 buy diamond. and none for others.D. 1 respondents buy A. Fig. 4 buy platinum.Out of 70 respondents 40 respondents buy gold.
49 respondents prefer branded and 21 respondents prefer unbranded jewellery. Fig. 5 RETAIL SHOP WISE CLASSIFICATION OF JWELLERY BUYERS .Table 5: TYPE OF JEWELLERY BRANDED UNBRANDED NO. OF RESPONDENTS 70 30 Inference: Out of 70 respondents.
OF RESPONDENTS %GE UNBRANDED 17 24. .29 BRANDED TANISHQ 23 32.29 OTHERS 5 7.43 D'DAMAS 17 24. 17 prefer to go D’Damas.86 GITANJALI 8 11. 8 go to Gitanjali.14 Inference: Out of 70 respondents 23 respondents used to go Tanishq. and 5 respondents used to go other branded shops.Table 6: RETAIL SHOP NO.
6 TRUST OF PEOPLE ON THE TYPE OF PRODUCT Table 7: .Fig.
OF RESPONDENTS PERCENTAGE BRANDED 51 72. 7 DECISION AFFECTED BY THE RESPONDENTS' FAMILY MEMBER'S FOR BUYING A JWELLERY .14 Inference: Out of 70 respondents. Fig.TYPE OF PRODUCT NO.85 UNBRANDED 19 27. 51 respondents have trust on branded jewellery whether 19 respondents have trust on unbranded jewellery.
and others 11.Table 8: MEMBER’S OF FAMILY NO. Father 18. they areMother 25. OF RESPONDENTS MOTHER 25 FATHER 18 SPOUSE 16 OTHERS 11 Inference: Out of 70 respondents on their family member decision for buying a jewellery. Spouse 16. .
Total 70 respondents were selected at random for the purpose of the study. 8 SAMPLING: Total 70 respondents have been interviewed and the data have been collected. The area of study has been restricted to Gomtinagar area.Fig. .
70 respondents were selected randomly and asked to answer the question. . 70 out of 70 respondents admitted that they buy jwellery. Sample: Virat Khand.Universe: Gomtinagar. STATISTICAL TOOLS USED: A simple statistical tool such as percentage. Percentages and chi-square test was used while analyzing and interpreting the data. The required information was collected through the questionnaire from the consumers directly by interviewing them. FINDINGS I. Lucknow. SOURCES OF DATA: The study is based on primary data and secondary data. Vineet Khand FRAME WORK OF ANALYSIS: A study of Consumer perception about different jewellery brands. their market shares has been made through questionnaire method. two-way table and chi-square test was employed for the purpose of analysis of data. Based upon their answers the classification of respondents was done and was analyzed and interpreted.
Gitanjali is on no. III. The purchasing decision of the jewellery in respondents’ family members varies from person to person. 51 respondents do trust on branded jewellery and 19 respondents have trust on unbranded jewellery. and at 11 respondents’ home.d. and 1respondent buy a. IX.II. 4 purchase platinum. 40 respondents buy Gold. VIII.. third with the support of 8 respondents. VI. 36 respondents are male and 34 respondents are female. . none for others. Between “21-30” age group purchase jewellery most. In the branded jewellery segment Tanishq is high in demand opted 23 respondents. and 15 for diamond. 25 respondents’ mothers buy the jewellery. D’Damas is on no. VII. Branded jewellery buyers are 49 whether 21 respondents purchase unbranded jewellery. father purchase jewellery of 18 respondents. 10 respondents buy silver. jewellery purchase by others. IV. second chosen by 17 respondents. V. Housewives are the leading jewellery buyers with 21 out of 70 respondents. 16 respondents their spouse purchase jewellery. and 5 respondents go to others branded jewellery firms.
Gold is used most in metals so may make sense to invest in gold. As the above concluded that the age group between 21-30 are the high rate of jewellery buyers. .SUGGESTIONS In the current era all the branded companies are concentrating only on the females but males are also trendy now so. A franchise of Tanishq can give more return to a new born jewellery seller. and a new jewellery firm can gain more by producing the new age jewellery with keep eyes on the current fashion trend. the companies should also promote male gems and jewellery.
Gold consumers are more rather than other metals. Each and every person is willing to buy jewellery. 30% of the respondents use unbranded jewellery from the other local shops.85% of the respondents have trust on the branded jewellery. 70% of the respondents purchase jewellery from the various branded shops.86% of the respondents.CONCLUSION 40% of the respondents are between 21-30 age group and they purchase the jewellery most. Housewives are more interested to buying jewellery. 72. Tanishq is highly preferred brand with 32. .
Due to short time of period this was not possible to collect more primary data. 2. All of the secondary data are taken by the internet sources and this was not possible to show current status. This report is not showing branded vs unbranded or their purity assurance. Because I live at Gomti Nagar area in Lucknow and here is very less number of unbranded shops even not a big one so there is not much information about unbranded jewellery shops.LIMITATIONS 1. 4. The all secondary data shown above cannot be exact in figures. 3. 5. .
KOTHARI: “RESEARCH METHODOLOGY” 2.R. OUTLOOK INDIA 2. RESEARCH JOURNALS . C.COM 1. BUSINESS LINE 3.P. GUPTA: “STATISTICAL METHODS” SULTAN CHAND AND SONS NEW DELHI INTERNET SOURCES: MAGZINE AND JOURNALS: WWW. S.GOOGLE.BIBLIOGRAPHY Books: 1.
Diamond F. Spouse D. Branded retail shops B. Father C. Platinum A. Others . Do you buy jewellery? A. Unbranded local shops 6. Silver E. Gold D. Which type of jewellery you mostly prefer? 4. Among which of the following retail shops you prefer to buy? A.Name Age Sex : Occupation : : : QUESTIONNAIRE 1. Yes A. Branded B. Unbranded C. Unbranded local jewellery shops B.D B. Branded jewellery shops Tanishq Gitanjali D’Damas Others 5. Others 2. A. No B. Do you trust on the purity of the product from the shop you buy? If yes whether it isA. Mother B. Who in your family mostly takes the decision on buying jewellery? A. Which type of jewellery segment do you mostly prefer? 3.
Exploratory Report Types Of Data To Be Collected:. acceptability and popularity. To find market share of local brands and different branded firms. their market shares.” TOPIC OF THE PROJECT: Consumer perception about different jewellery brands. buying gold jewellery is also one of the best ways to invest hard earned money.Survey Primary Data Collection Techniques:. 2. METHODOLOGY: • • • • • • Types Of Research:. PROJECT OBJECTIVES: 1. To find consumer scale who are wearing jewels from the various brands available in market. equisite design and the impeccable style. innate to well crafted gold jewellery.Primary Data Primary Data Collection Method:. 3. 4. To find dominating player of this industry and rivals. Vibrant looks. Interestingly. Questionnaire Sample Unit:. Comparison between local and branded jwellery regarding their market share. make it nothing short of a treasure.SYNOPSIS “Gold jwellery is often envisioned as a symbol of wealth and status.Simple Random Sampling .Personal Interview. Gold jewellry is a striking piece of art and the aptly described as poetry in metal.Lucknow Sampling Techniques:.
AKASH BARANWAL PGDM II Sem Roll No. RELEVANCE OF THE PROJECT: This project will provide help to an entrepreneur who is going to start his career in jwellery field (especially in Gold) and can evaluate him through the figures. – PG/09/01 .
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