Professional Documents
Culture Documents
Roll no. 26
Under the guidance of
Prof. Ansari Naseem Ahmad
Designation: Faculty
Department: Bachelors of management studies
K.H.M.W. College
Submitted in partial fulfillment of
MUMBAI UNIVERSITY
K.H.M.W. COLLEGE OF COMMERCE
DECLARATION
_________________
Signature of Student
[LAKHANI AYUB]
CERTIFICATE
This is to certify that I, LAKHANI AYUB, Student of K.H.M.W. COLLEGE
OF COMMERCE AND MANAGEMENT has completed this project. The title
MARKETING OF IMMITATIONJ JEWELLARY as a part of
T.Y.B.M.S course 2016-17 has collected the required information to reliable
sources. This project is complete and fit for submission.
___________________
_______________________
_______________
(External Examiner)
_______________________
(BMS Co- Ordinator)
ACKNOWLEDGEMENT
I would like to thank the University of Mumbai, for introducing the BMS
course, there by giving its students a platform to keep abreast with the changing
business scenario, with the help of theory as a base and practical as a solution.
This project would have been incomplete without the endless support and
guidance of Professor ANSARI NASEEM AHMAD, my project guide.
I would also like to express my sincere gratitude towards our respected
Principal MR. AZIZ SHAIKH.
My friends who have been a great source of inspiration throughout the
making of this project, their support is deeply acknowledged.
AYUB LAKHANI
TABLE OF CONTENT
SR.NO
CONTENT
PAGE.NO
Introduction
What is marketing
What does marketing involve
Advantages and disadvantages of marketing
Functions of marketing
History of jewellery
Process of making jewellery
Why imitation jewellery preferred than
gold(survey)
Introduction to imitation jewellery brand(sia art
jewellery)
History of sia art jewellery
Mission
Vision
Employee and HR
Discount offer
Specialisation
Sia life style brand
Marketing mix(4ps)
1o
Targeting
Positioning
segmentation
1
1
2
3
4&5
6
7
8
8
9
9
9
10
11
11
12
13
13
14
15
Questionnaire
16&17
Competitors
18
Future plans
19&20
21
History
21
22
company profile
Infrastructure
Quality assurance
Specialisation
Meeting customer needs and expectations
Client satisfaction
11
Various strategies
12
Export
Sales
Promotion strategy
Product life cycle
26-28
28
28
29
30&31
13
Challenges
Exports
Role as an exporter
Expansion & diversification
14
32
32
33
35
36-37
38
Swot analysis
16
39
Future plans
17
18
40
Changing scenario
Research , survey report
Bibliography
41-57
MARKETING
OF
IMITATION
JEWELLERY
WHAT IS MARKETING?
(INTRODUCTION)
PHILIP KOTLER :Defines marketing asneeds and wants through an exchange process'
Customers will only undertake the exchange, if they feel that their needs are being satisfied,
clearly the transactional value can not be more than the amount customers are prepared to pay
to satisfy their need.
and type of advert can be adopted and changed according to your needs.
Another advantage marketing this way is the repeated display of your advert over time.
Multiple appearances in various issues of the paper or magazine will improve chances of
your brand sticking with the customers and also the results you will see in terms of sales
leads.
Every business needs to spend money to make money. Investing in marketing is no
The first disadvantage of marketing in general is the cost. Adverting and marketing
costs money. If you dont do the proper research then you might end up throwing
money away.
Wasting marketing efforts by targeting the wrong audience using an inappropriate
an unsuccessful campaign.
Magazines are often released on a monthly basis, meaning it can take longer for your
across a number of radio and television stations to reach everyone you need to.
Listeners/viewers may stop paying attention during advert breaks, which are
essentially a disturbance to their enjoyment of the shows
FUNCTIONS OF MARKETING
Buying:
(Raw material to produce goods and services and to purchase finished goods or
services as retailer or whole seller to sell them again for final customers and
consumers). It is a function that ensures that product offerings are available in
sufficient quantities to meet customer demands
Selling:
The function to be performed to sell the products/services/idea to satisfy customer
needs or wants. Using advertising, personal selling, and sales promotion to match
goods and services to customer needs
Transporting:
Function related to create the availability of product or services. It is used for moving
products from their points of production to location convenient for purchases
Storing:
Warehouses are used to store the products for further distribution.
Standardizing and grading:
To provide more quality products and services without variation in the quality.
Ensuring that product offerings meet established and grading quality and quantity
control standards of size, weight, and other product variables
Financing:
Providing the financial resources to carry out different function e.g. promotion of
product and providing credit for channel members (wholesalers retailers) or
consumers
Risk taking:
Marketer takes a risk specifically when any new product is introduced in a market
because there are equal chances of success and failure. Dealing with uncertainty about
consumer purchases resulting from creation and marketing of goods and services that
consumers may purchase in the future
Securing Marketing Information:
Collecting information about consumers, competitors, information and channel
members (wholesalers, and retailers) for use in making marketing decisions Almost
all marketing functions are based on information acquired from external environment
and information distributed out of organization. Marketer seeks information to find
out customer needs and wants which are to be satisfied than after producing goods
and services awareness about the availability is required so that consumer can
purchase the available goods and services
HISTORY OF JEWELLERY
For thousands of years women in India are wearing jewellery. Wearing jewelry is a
trademark. The types and styles include rings, earrings, bangles, bracelets, anklets, headbands
and chains, and the materials are significant of the region they live in. For example, people
from Orissa and Andhra Pradesh wear silver, while Rajasthan people adorn themselves in
enameling work jewelry. Ancient rulers who adorned their bodies in jewelry and crowns
unknowingly had an impact on the style and choice of stones worn by the people.
The first signs of jewellery came from the people in Africa
. The first signs of established jewellery making in Ancient Egypt was around 3,000-5,000
years ago.[19] The Egyptians preferred the luxury, gold over other metals. In Asia, the Indian
subcontinent has the longest continuous legacy of jewellery making anywhere, with a history
of over 5,000 years.[31] One of the first to start jewellery making were the peoples of the Indus
Valley Civilization in what is now predominately modern-day Pakistan.
Some images of ancient jewellery
Imitation jewelry, also referred to as ancient jewelry, has been around as long as costly
jewelry, and is made from common available materials. Imitation jewelry is created in the
same styles and designs as costly jewelry. There are bangles and rings, earrings, belly-rings
and nose rings made from materials other than gold or silver. There are charm jewelry such as
mood rings and charm bracelets, tattoo jewelry, sterling silver pieces that are lined with
artificial stones and abstract jewelry. While these pieces are worn every day by women
throughout India, they are not given as gifts for weddings since the people hold this as a
sacred day and give only genuine jewelry. In some cases, silver and platinum jewelry is
given, but in most cases its only gold.
people who turn the mold to master mold which acts as base for the entire process
. Casting is again a complex process .This process again requires professionals
people
The wax replicas are put in steel containers and those containers are heated at 500 0C.
The next stage is polishing. Every part has to be polished while the mount is being
made.
Once the polishing is done the last and the final step is done stone are embedded and
carving is done or meenakari work is done .
If in case diamond jewellery the cutting of diamond is important
As the topic is
IMITATION JEWLLERY here we are focusing on some imitation jewellery brands
within India and outside India .and also the manufactures of imitation jewellery .
The first one is sia art jewellery which is one of the leading imitation jewellery brand in
India .The second one is leading manufacturers and exporters of imitation
jewelleryambica jewellery
VISION
With a vision to become the best global art jewellery and accessories brand, Sia sees itself
as a major promoter to encourage and propagate the creative use of jewellery in everyday
attire.
Employees and HR
skills by hands-on experience in retailing and product knowledge. Trainees are taken through
rigorous but informative training procedure, which acquaints them with the know-how of the
business and instills in them company values and traditions. Employee turnover at Sia is
lower
than most in the industry, and this is attributed to the productive and open working
conditions,
which places a great deal of trust and responsibility in the employee from the first day itself
pearl set
designer clutch
fashion accessories
kundan set
Sia sole mates:An exclusive collection of designer footwear and designer bags
MARKETING MIX(4PS)
RS. 5995
TARGETING
POSITIONING
SEGMENTATION
TARGETING:-Targeting means selecting a particular group of people
from entire population. In case of sia target audience is basically womens
Targeting is of 2types
Undifferentiated
Differentiated
parts
Segmentation is done in 2 ways
1. Product wise
2. people wise
1.) Product wise: How frequent are the user of your product
Attractive features of product
Brand loyalty
Preference towards a particular brand
2)people wise: Geographic
Demographic
Socio-economic
Psychographic
Personality
In the year 1998 sia earned huge popularity and tremendous customer response
This help sia in increasing the showroom size from 1300sqft -2500sqft
In the year 2000 sia stepped into retail outlet for footware and 2nd outlet in
matunga
In the same year sia launched devdas collection which gained huge appreciation
from all over
This also increased the sale of sia.
Sia expanded into franchisee model in dlf city gurgoan
SIA opens 8th store at 'East Delhi Mall' (East Delhi ).
SIA opens 9th store at 'Greater Kailash - 1' (South
Delhi ).
Sia expands into Gujarat market with its first exclusive
in Surat (10th store)
Sia opens stores at the following locations: in (2008)
- Vile Parle (Mumbai)
- High Street Phoenix (Mumbai)
- Centre Square Mall (Vadodara)
- Inorbit Mall, Vashi (Mumbai)
- Oberoi Mall (Mumbai)
- South City Mall (Kolkata)
QUESTIONNARIE
1)Do you wear jewellery?
Yes
No
2)How often do you wear jewellery
Every day
Occasionally
Dont like to wear
Diamond
Ruby
Emrald
Pearl
Any other
Theard
Nylon
Any metal (name)
Bracelet
Necklace
Earring
Or all
Online
Street shopping
Any specify shop
COMPETITORS
Sia art jewellery has many competitors
FUTURE PLANS
SIA Art Jewellery As A Fashion Brand Is Increasingly Becoming The Preferred Choice of
National & International Designers For Their Clientele, Movie Production Houses
Mumbai, Maharashtra, March 2, 2009 /India PRwire/ -- Sia Art Jewellery (SIA), the national
market leader in art jewellery industry and Sia Solemates, exclusive designer bags and
footwear, with its exquisite blend of style and value, innovation and expertise, has emerged as
a prominent player, holding the leadership position in the Rs 2500 crore branded artificial
jewellery market. Now, this brand is looking at spreading their wings further
Mr. Jatin Chhadva, CEO, SIA Lifestyles Pvt. Ltd said In the next six months time, the
company plans to open four more outlets in Bangalore, Delhi, Pune and Mumbai. We also
propose to set up kiosks at select malls where we plan to sell accessories under our brand
name. Our target in the coming two years is 50 outlets or 25,000 sq feet of retail space. We
propose to touch the Rs.100 crore turnover mark in the next two-and-a half years. To set up
these stores, we plan to appoint franchisees across India.
Mr. Jatin Chhadva further said The company plans to sell their branded products through
300 shop-in-shops and also plans to increase their exclusive outlets to 150 stores by 2015. It
will be the top accessories brand in the country, with a retail network spanning across all
major cities. There will be a Sia in every womans wardrobe and our turnover will be in
excess of Rs 1000 cr.
Kickstarted by Mr. Jatin Chhadva in 1995 at Mumbai, Sia flagged off with a modest
showroom at Santacruz. Today, the brand boasts of over 25 outlets across 11 cities and
employs a staff strength of over 300 people. Its dazzling merchandise has graduated from
traditional ethnic Kundan pieces to contemporary everyday wear, and boasts of the twin
advantages of affordability and versatility.
Its visibility spans TV soaps (Nach Baliye, Great Indian Laughter Challenge, Raja Ki
Aayegi Baraat ), movies (Om Shanti Om, Devdas) and the Star Parivaar range of Art
Jewellery, among other notables. The biggest turning point for SIA was without doubt, the
association with Sanjay Leela Bhansalis Devdas- wherein the complete on-screen jewellery
was designed and produced by Sia. Along with this, came the appreciation of the fashion
designer fraternity.
SIA, as a fashion retail brand, enjoys a loyal customer base with an exclusive membership
programme. It is comparable to the best accessories industry with a healthy product turnover
and a high sale per square feet ratio. The uniqueness of Sia is addressed by the twin factors
affordability and versatlity, alongwith industry recognition -majority of Bollywood, fashsion
designers and TV soapslike Jassi, Baa Bahoo, Nach Baliye, and movies like Devdas and Om
Shanti Om endorse Sia in some way or the other, Mr. Jatin Chhadva said.
Mr. Jatin Chhadva further said that they have recently tied up with two more new
movies. One is the next Himesh Reshammiya film starring Jennifer Kotwal and Niharika
Singh Mudh Mudh Ke Na Dekh Mudh Mudh Ke. The other one is Katrina Kaifs new
untitled venture in which Rocky S is styling her. Besides, SIA is the sole license holder for
the Star Parivaar range of art jewellery
The classiness of the SIA Art Jewellery comes from the fact that the technique used is
identical to that used for setting precious stones in gold and silver. Hence the art jewellery has
a beautiful finish which puts it at par with real gold jewellery. The designers who usually
shop for their clientele from SIA store include Vikram Phadnis, Manish Malhotra, Neeta
Lulla and Rocky S. International designer Ralph Lauren recently picked up merchandise for
his Milan Collection and they regularly pick up merchandise from SIA.
On the unorganized competition market, Mr. Jatin Chaddva said The biggest challenge was
to curb the rampant unorganised competition, who would offer better bargains and deals to
our customers, along with mouth-watering buyback schemes. The game plan to overcome
them was simple - instead of lowering the brand image by offering cheap goods to combat the
competition, we invested in people and training them, which has paid off majorly. Almost all
SIA customers who have been one-time purchasers of unbranded jewellery, have come back
to SIA because of the quality and value, great offers and unmatched rapport that our sales
team shares with them.
In the organized chain sector, SIA is the only one in fact across India that ensures full value
for their money and also once a design gets sold out it never gets replicated again
The next we will focus on one more jewellery brand Ambica jewels which is manufacturer
and exporters of fashion jewellery
The next we will focus on one manufacturers and suppliers. Here we will focus on ambica
imitation jewellery . This is a brand which has captured the overseas market in less time
INTRODUCTION ( HISTORY)
Our company has carved a niche in the industry owing to the following attributes:
Paid sampling policy (courier charges and delivery charges borne by clients)
With our constant efforts of our team of designers and jewelry designers and we are
able to create exclusive range of artificial jewellery. To maintain the flawlessness of
range, our quality controllers stringently checks the finished product on well defined
parameters such as cracks, surface finish and luster so as to attained complete client
satisfaction. Further, we also have a warehousing and packaging unit to safely store
our range before being dispatched.
Under the able guidance of Mr. Mahavir Jain, our company has have been evolved
in every sphere of jewelry industry with better quality and better designs.
COMPANY PROFILE
1 ) business type
Manufacturer
Exporter
Wholesaler
1932
4) total number of employes11-20
INFRASTRUCTURE
The company is well equipped with machinery, facilities. We are backed by a sophisticated
infrastructure that enables to manufacture our range as per the clients requirement. Our unit
is installed with high end machinery that helps us to produce our range effectively. Our
craftsman and designers are highly skilled and innovatively design the range so as to be in
tandem with current trend in market
Our machines include:
Finishing machine
Polishing machine
Plating machine
Engraving machine
Further, we also upgrade our range of machines from time to time to be abreast of the
current changes in the society. This helps us to maintain quality in our range of precious,
semi precious and artificial jewelry and attain complete client satisfaction.
QUALITY ASSURANCE
Our company endeavors to attain complete quality assurance and in order to achieve this,
we follow a Quality Management Policy. We have our own team of quality controllers, who
have wide experience in the industry and stringently check our range on well defined
parameters so as to deliver a defect free range to our clients. The quality checks
conducted at different stages also enables us in maintaining international quality
standards in our product range. The quality measures adopted by us are undertaken
throughout the stages of designing, production, packaging and warehousing.
Some of the parameters, on which we check our range:
Cracks
Surface finish
Plating
In addition, we also make sure to provide test certificates for our range on the special
request of our clientsQuality Assurance
SPECIALISATION
polka necklace
Our company offers Polki Necklaces that encompass a complete range of neckpiece, earrings,
maangtika, bracelets and nose pin. These are offered to our clients with the perfect stone and
metal combination that can suit different attires in the perfect manner. Our range gives an elegant
look to the wearer.
Specifications:
kundan jewellery
Kundan necklace sets with beaded tassels and gemstone beads. This choker reflects the
indian traditional style of ornaments. The vibrant colour combination makes it ideal for
party & weddings
polkaearings
Our range of polki earrings is ideal for weddings, engagements or special occasions. These
are intricately designed by our craftsmen, who ensure that the earrings are in tandem
with current trends prevailing in the market. Polki earrings offered by us are renowned for
vibrant colors, smooth finish and sparkling polish.
Thickness
Flawless finish
Scratch-free surface
The Stone Setting Process is conducted with an eye on factors such as:
Neatness
Aesthetic beauty
Customized Jewelry:
Customized Jewelry is one of our core strengths. We provide our customers from across
the globe a wide choice in ornamentation as well as choice of customizing the jewelry on
diverse parameters such as colors, designs, materials, etc. We can work from samples or
plain drawings to develop jewelry as per the requirements of our customers.
Standard Terms & Conditions:
For making transactions easy and transparent we have established a set of terms &
conditions. A brief overview of our terms is enlisted below:
An Identification number will be assigned to customer so that they can track their
order.
In case of any damage of products during transit, clients are requested to contact us
immediately, for pursuit of the case with C&F agents
CLIENT SATISFACTION
We strive to stand tall on the expectations of our customers by delivering exquisite jewelry
pieces. Each and every piece of jewelry manufactured by us is checked on various quality
parameters.
Our quality control lays emphasis on the following:
Thickness
Flawless finish
Scratch-free surface
The Stone Setting Process is conducted with an eye on factors such as:
Neatness
Aesthetic beauty
Get a professional who will design your brochures and flyers with utmost quality. These
materials must be able to describe your products in detail and should include clear photos
of your pieces.
3. Produce quality products
Only make use of quality materials and tell your customers why you are different from
your competitors. Remember that you are a jewellery expert so you must not hesitate to
explain why your product is superior.
4. Provide relevant information
Give details on your website or at trade shows about how you make your products unique,
high-quality and worth your customers money.
5. Build your presence
If youre just starting out, you can purchase a booth at a craft fair to showcase your
masterpieces to consumers. Personally answer questions and take orders.
If you want to take your jewellery business to the next level, you can get the assistance of
professional small business marketing services so you can plan and implement more
targeted marketing strategies to have a bigger impact on your market and give your
business a boost!
6. Ambica Imitation Jewellery announces the launch of their New Business Website
- Ambica Imitation
The website is designed and developed with IndiaMART.com, india's largest B2B
marketplace which helped us in fulfilling our requirements, to meet customer's needs
worldwide for immediate information.
Visit us at : http://www.soniyojewels.com/
EXPORT
During 2009-2010 1,45%of growth
Exported us$ 20.8 billion in 2007-2008
Growth of 9%in this year
Ambica jewels has created a remarkable place in overseas market also. Every year niki
launches a jewellery collection with something unique and different .
Sales
africa; 10%
eastern europe; 17%
south america; 43%
GROWTH :-In this stage the product was accepted but didnt gained good response.
Even though sales promotion extensive and more advertising campaign
MATURITY:-In this period competion brings pressure on prices. Increasing market
expenditure will reduce profits .overall market effectiveness becomes the key factor.
here ambica jewellery faced a competiton from other jewellery brand .As there was
huge competition and growing demand for kundan jewellery stone studded jewellery
didnot survive
DECLINE:-In this product becomes obsolete. In this stage price becomes an
important weapon, the expenditure on advertisement and promotion should be
reduced
PLC( product life cycle) is very useful. It helps the marketer to plan the entry of a new
product and also in long term decision making.
Certain products which ambica jewellery launched didnt succeed much. When the
company was doing a product named stone studded necklace which couldnt make a
good sale to the company
CHALLENGES
MARKET SIZE
8.3% of world jewellery sale
Annual growth rate of15%
Largest consumer 20% of global consumption
Unorganised sector
Organised sector 2400 crore
MAJOR COMPETITORS
ROLE AS EXPORTERS
During 2010-2011, the growth was 1.40%
Exported us$20.8 billion in 2009-2010.
Growth of 9% in this year.
breaking effort that has earned a well-deserved reputation for reliability and excellence, and
for introducing pioneering concepts in an industry where tradition once ruled. The brand has
a 40% share of the organised jewellery market and a 1% bite of the overall jewellery pie.
There are more than 300,000 independent, non-branded jewellery retailers in India.
ambica was a trailblazing endeavour to create a national retail chain that would provide
consumers with jewellery of reliable worth and high design value. Its entry changed, in more
ways than one, the way the Indian jewellery market operates.. Another ambica novelty, one
on which the brand's growth strategy is premised, is in the matter of differentiated designs, be
they contemporary or traditional, Indian or international.
Modern retail values and principles in the selling of branded jewellery in India are almost
completely the handiwork of ambicaThe brand has broken fresh ground in retailing by creating
exclusive outlets with hitherto unknown in-store ambience and hospitality touchstones. It has launched
new collectionsat a
quicker rate than its competitors, and conducted marketing promotions and
Ambica retail boutiques are temples for the brand and are used as a platform for celebration,
be it the launch of a new collection, a new marketing promotion or a festival. This gives
Ambica outlets a unique appeal and consumers an opportunity to heighten their shopping
experience. One of ambica more innovative ideas is to offer special schemes during various
festivals. Ambica
has also initiated a loyalty program called the Golden Harvest Savings Scheme, which offers
buyers the benefit of getting more jewellery than what they have paid for. The scheme allows
consumers to plan
WEAKNESSES
Technology is less as compared to foreign countries
As the raw materials required need to be imported companies normally stock
huge quantities of inventory resulting high inventory carrying cost
OPPOPRTUNITIES
New market in Europe and America
Growing demand in south asian countries
Expansion in fashion accessories like clutches fashionable rings sets etc
Also would think of putting a step in platinum jewellerybecause of increase
in disposable income
THREATS
According to a survey 97%sales are in family jewelers
Future plans
Ambica imitation jewellery has planed to expand business by open more outlets in
India and also outside india
Here we have planned to launch a new collection
Initially they had launched kundan sets and polka neck pieces
But as these sets increased the sales so they decided to launch these sets with
something new or innovative
In this collection traditional design will be done with intricate meenakari work.
Also as the Indian customers are price conscious some discounts are also offered to
customers
In countries outside india same collection will be launched ,but along with that as
those people Are used to wear diamonds ambic has decided to launch good diamond
collection also
They have also planned to launch
CHANNGING SENARIO
YESTERDAY
TODAY
branded
Gold jewellery
imitation jewellery
given as gifts
fashionable
from our respondents by asking them to fill our questionnaires. Findings & Conclusions: This
segment consists of what was deduced from the research along with the conclusions.
RESEARCH OBJECTIVEThe key objectives behind the research/study can be underlined as
under: o To find consumers Top Of The Mind brand recall in case of branded jewellery o To
study consumers frequency and reason to buy from a particular jeweller o Study the
consumers understanding about The Jeweller pertaining to: Whether the brand is
Expensive or Affordable; How the consumers came to know about the brand; Which
segment of the society does the brand make jewellery for; A Suitable Brand Ambassador
and a reason for the same. o To find out the consumers purchasing and gifting habit: In
terms of money spent; The people they go along with; Do they consider buying
jewellery as an investment; The type of jewellery they buy: Plain Gold Jewellery
Studded Jewellery Platinum Jewellery Coins and Bars
RESEARCH METHODOLOGY SAMPLE DESIGN The population consisted of
respondents comprising mainly of school and college going females whom we randomly
chose from various parts of New Delhi. Not only women, but men also took part in the
survey whole-heartedly and provided us with valuable feedback when it comes to purchasing
gold from any outlet. SAMPLE SIZE Our sample size consisted of 30 respondents from
mumbai. However it should be noted that a few of the respondents were inhabitants of other
parts of the country. RESEARCH INSTRUMENT To enable a smooth execution of the
research, we prepared an interactive questionnaire to collect information from the population.
We incorporated questions pertaining to various aspects of jewellery purchase and gifting. We
enquired the respondents about their purchasing habit of the different categories of jewellery,
viz., Plain Gold, Studded, Platinum Jewellery and Coins & Bars. It would be
commendable to mention responses from a few of our respondents who are inhabitants of
other parts of the country.
1)Which brand comes to your mind, when you hear the word
JEWELLERY?
2) Where do you purchase your jewellery from and why?
3) Do you prefer gifting jewellery to any other item
4)Do you purchase jewellery for investment purpose?
5) How often do you purchase a particular type of jewellery?
6) How much is your total annual purchase value for yourself?
7) How much do you spend annually on gifting jewellery?
8) How did you come to know about the brand- ambica
Some feedback that we got from the questionnaire
1) Most Recalled Brand of Jewellery 60 PERCENTAGE 50 50 40 30 20 20 16.67
13.33 10 0 ambicaNakshatraTanishqAsmi BRANDS Of all the respondents
that we asked this question to, 16.67% said that they were reminded about
DDamas. 20% said that it was Nakshatra that they visualized, whereas Asmi
was recognised by 13.33% of the people. Tanishq however was the most
recalled brand with 50% of the respondents having thought about it.
2)12 10 Variety 8 Uniqueness 6 Customization 4 Buy Back Policy 2 Other Reason 0 Family
Jew eller Local JewELLEROther Brands Of the 13 respondents who purchase from their
Family Jeweller, 28% said that they purchase for the variety of designs that are available, 4%
purchase because of the uniqueness of the designs, and 48% go back as the jewellery can be
customized according to their taste. 16% choose to go back for the Buy Back Policy that is
offered to them. And the remaining 4% choose to purchase from the same outlet as they find
it affordable. Local jewellers were chosen by 4 respondents, 20% people chose them for the
uniqueness and 20% for the variety of the designs. The remaining 60% however chose them
for the customization facility that is made available to the customers. The 5 customers who
actually purchase from Tanishq do so because of the uniqueness of designs and the buy back
policy. The respondents were drawn to the brand for the revised evaluation of their studded
jewellery. And when it comes to other brands, people chose it for both the buy back policy
and the uniqueness of the brand.
3)Never Sometimes Sometimes 50% 50% Never For the 50% of the
respondents, gifting jewellery in this age is like giving a person something
which he might not want at that point of time, Moreover, they feel its better
that the person herself buys what she wants instead of a person gifting her
something. The remaining 50% though were not contradicting the ones who
said NO to gifting jewellery, but even they thought that one cant keep on
gifting jewellery every now and then looking at the alarming rate of gold. The
main concern for them was the fluctuation of the gold rates. According to them
if the gol rates hadnt been fluctuating, might be they would switch over to
ALWAYS GIFT JEWELLERY
4)Always 7% Never 30% Sometimes 63% When enquired if they purchase
jewellery as a mean for investment, 7% of the respondents said that they
always purchased jewellery for investment purposes. However, 63% said that
they consider it an investment only sometimes. There are instances when one
purchases jewellery as an adornment too and not as investments. But there
were 30% of the respondents who were of the opinion that they never
purchased jewellery as an investment. For them it was just like any other
commodity, though its intrinsic value was much more than compared to the
other items that they bought.
5)Type - imitation Jewellery 60% 50% No. Of Respondents 40% 30% 20% 10% 0%
Never Always Sometimes Frequency Necklace & Ear Rings Bangles / Bracelets
Finger Rings Chains In the above diagram Type - Studded Jewellery 70% 60% No. Of
Respondents 50% 40% 30% 20% 10% 0% Never Always Sometimes Frequency
. Type - Platinum Jewellery 100% 80% No. Of Respondents 60% 40% 20% 0% Never
Always Sometimes Frequency Necklace & Ear Rings Finger Rings Chains Type Coins & Bars 50% No. Of Respondents 40% 30% 20% 10% 0% Never Always
Sometimes Frequency Coins & Bars
6) Annual Purchase Value Less Than Rs. 50% 25000 40% Between Rs. 25000 No. Of
Respondents & Rs. 50000 30% 33.33% 20% Between Rs. 50000 47% & Rs. 1 Lakh
10% 13.33% 6.67% Above Rs. 1 Lakh 0% When we enquired our respondents about
how much do they annually spend on jewellery purchase, they were reluctant to
disclose the same. But then they started coming out with the actual figures and before
long enough, we had come to know about the money that they spend for purchasing
jewellery.
7)37% 46% 7% 10% Less Than Rs. 10000 Between Rs. 10000 & Rs. 25000 Between
Rs. 25000 & Rs. 50000 I dont buy gifts When we asked our respondents about how
much do they usually spend when it comes to gifting jewellery, we had mixed
responses. A majority of 46% said that they spend not more than Rs. 10000, where as
10% of the respondents said that they spent anything between Rs. 10000 and Rs.
25000. 7% said that they spent between Rs. 25000 and Rs. 50000 on an average every
year. There were however 37% of the respondents who didnt feel the need to buy
gifts and as such they didnt buy jewellery for gifting.
8)10% 7% 20% 63% Friends News Papers Hoardings & Banners TV We came to
know that our respondents came to know of ambica The Jeweller mainly from the
advertisements in the newspapers. Almost 63% of our respondents said that they came
to know about ambica from the newspapers. There were 20% people who came to
know about ambica from their friends. 10% of the respondents came to know about
the brand from the hoardings and banners that are setup everywhere. 7% of the
respondents came to know about ambicafrom the other media, i.e., Television.
REPORTS
Rising gold prices boost imitation jewellery sale
HYDERABAD, Mar 20, 2012, DHNS:
Is the business of imitation gold ornament on the rise? Yes, say the members of the
Imitation Jewellery Manufacturers Association (IJMA).
According to Ramesh Janani, president of IJMA, due to the heavy rise in the prices of gold
and silver jewellery, the consumption of imitation jewellery is soaring in the country.
This has resulted in the increase of trading and retail shops of imitation jewellery in the
country, he said.
precious or costume jewellery. Gurgaon's imitation jewellery players are predicting a dazzling
future for this form of jewellery
The local imitation jewellery market has seen almost a 50 percent rise in the past five years
and is set to grow while the exports must have seen a rise of 20 percent ," said Gurgaon-based
Sonia Walia, owner of Zara Hues which exports imitation jewellery to US, Moscow, Canada
and Hongkong.
The use of imitation jewellery has been prevalent from much before in the West but its
acceptance is finally catching up in India since the past decade or so. Walia entered the
imitation jewelllery market 10 years back seeing the huge demand and necessity for semi
precious jewellery. "In India, the trend is recent as compared to western countries especially
in affluent families. They wear it as a fashion statement but now due increasing prices of
precious metal, more and more people are settling for imitation jewellery," she added.
Walia says the domestic market holds a huge potential but to realise that the players need to
be innovative. As per Gurgaon-based Chaitanya Aggarwal, founder and CEO, Juvalia& You
India, the Indian jewellery market is pegged at Rs 1.40 lakh crore with imitation jewellery
market pegged at approximately Rs 7,000 crore and significantly growing at the CAGR of 15
to 20 percent year-on-year.
Juvalia& You is a Europe-based imitation jewellery player that aims to encash the huge
potential the Indian imitation jewellery market holds and is betting big on NCR. "Our major
customer base is in Delhi-NCR which is growing double fold. Juvalia& You India innovative
jewellery designs fulfill the needs of the middle class segment in NCR which desires to own
beautiful but affordable jewellery and admire heirloom pieces," said Aggarwal.
"Our major customer base belongs to this region so all in all there is still a lot of scope in this
market. Juvalia& You India intends to be India's largest fashion accessories brand and direct
selling business in the near future by catering to the unfulfilled consumer need to purchase
fashion accessories of international quality at affordable prices in the market. There is no
single known brand that operates in this category and we are very much here to address that
gap," he added.
The main reasons that the players attribute to the increase in the demand for imitation
jewellery include volatile gold prices which have jumped four times in the past one decade,
easy to carry, imitation jewellery being comparatively cheaper to worry in case lost or stolen
and humongous variety that it has.
However, some players say that the rising gold prices is not the only reason for the rise in
demand for fashion jewellery. "Considering the high disposable incomes in cities like
Gurgaon, everyone can afford to buy gold or diamond if they want to. The rise in imitation
jewellery demand is all about fashion. Accessories have become an important part of dressing
up and looking good in India. With so much international exposure fashion has become
important," said a city-based player in the imitation jewellery market who did not want to be
quoted
Imitation jewellery has a dazzling future
Saurabh Sharma, TNNNov 24, 2012, 02.45AM IST
On Wednesday, ASSOCHAM-Social Development Foundation (ASDF) released a survey
predicting that imitation jewellery is set to have a dazzling future as gold gets dearer and
Rajasthan will serve as an important market for it.
The spurt in gold and silver prices has paved the way for increased popularity of gems and
stones. Also, colourful designer and chunky Rajasthani ornaments continue to find favour
among the buyers.
"Everybody wants to wear jewellery these days. But prices of not only gold but silver also
have soared. So there has been a shift towards imitation jewellery. The market for it could be
even bigger if government relaxes excise duty on it," said Rajiv Jain, chairman, Gems and
Jewellery Export Promotion Council.
"Rajasthan could be the biggest beneficiary of it. Jewellers in the state have design
capabilities and a lot of craze can be witnessed among the consumers for Rajasthani
ornaments," added Jain.
Imitation jewellery is largely made of brass, cast iron, nickel, plastic beads and stones so it
does not have a resale value and is available at a range of Rs 100 to Rs 30,000. Imitation
jewellery is equally popular in rural areas and the rural-urban divide is almost 40:60, adds the
survey report.
India is the second largest manufacturer of imitation jewellery after China with 8.50% world
share. Rajasthan contributes almost 40% of it. Artificial and costume jewellery from here has
a huge demand in the US, Europe, Canada, Australia and many Asian countries.
"More and more young working women are looking for jewellery which is modern and easyto-wear and can be teamed up with western wear. Also the trend of wearing heavy jewellery
at weddings undergoing a change and that segment has switched to artificial jewellery,
especially gold-plated jewellery," said Ashish Meghraj, a Jaipur-based jeweller.
"It is also economical and, therefore, people of all classes are showing an interest in it and
considering it a smart buy," he added.
jewellery with gold plating in available for Rs 1,500, why one would spend Rs 15,000 for
real gold?," said Mehta. According to Lathiya, "Apart from price factor, people are more
inclined towards forming jewelley as it reduces their risk from theft and chain snatching
incidences." Due to its fragmented and unorganised nature, it is difficult to estimate the size
of the forming or imitation jewellery industry in India.
The demand for Imitation jewellery has surged by over 85 per cent in the last one year on
account of sharp rise in gold and silver prices, a study by industry body Assocham has said.
The imitation jewellery market, which is about Rs 8,000 crore (Rs 80 billion) in India [
Images ] presently, is expected to touch Rs 15,000 crore (Rs 150 billion) by 2015 owing to
growing demand and popularity, Assocham said in the study.
"The main reasons attributed to the rise in demand include volatile gold prices, fashion
conscious consumers, disposable incomes and easy to carry nature of such jewellery,"
Assocham Secretary General D S RawatsaidThe study said the high prices of gold have
changed the customer preference from fine jewellery to relatively inexpensive but equally
flashy costume jewellery, especially during festivals and weddings.
The prices of gold and silver saw an upward trend in the last one year.
At present, gold prices are ruling at Rs 32,450 per 10g, up from Rs 29,205 during the same
period last year. Silver rates are about Rs 62,000 per kg currently compared to Rs 56,400 per
kg in the corresponding period last year.
Assocham said it has surveyed 150 imitation jewellery manufacturers, wholesalers and
retailers in various cities for the study.
"About 75 per cent of the shopkeepers said women prefer imitation jewellery as it is more
affordable and can be customised according to the dress. Also, it is available in various
designs and colours," the study said.
Men's jewellery is becoming more common, especially among younger men in e.g. Spain,
Italy, France, UK, Greece, Germany, The Netherlands, Belgium, Scandinavian countries and
some of the eastern EU member states.
Young men were influenced by the popular surfing, beach and urban fashion trends or by
celebrities such as Robbie Williams, Ian Thorpe or the many rappers. Wearing jewellery has
become more accepted and young men have gradually become more daring in their choice.
Popular items are silver, gold or beaded neck chains, pendants, bracelets, rings, earrings
and belt buckles.
Older men either favour younger mens jewellery or choose traditional style jewellery such
as tie clips, cuff links, belt buckles, bracelets, rings and chains made of silver or gold. This
segment is much more evident in southern Europe.
Alongside stainless steel, silver is the material most being preferredby men. The shapes are
usually clear and silver is often contrasted with black or with red gold. Functional elements
give purpose or convey personality, for example, jewellery items that can be used to
measure
angles, or rings with a spirit-level function or charm pendants in the shape of a sundial.
Older people
People of 60 years and older, sometimes referred to as empty nesters, are an important
growing segment for precious jewellery. Older people are active and want to enjoy life, and
they tend to spend more than young people do. Retailers are promoting jewellery as a gift
for special occasions such as special birthdays and Christmas, or as a treat. Gold, silver,
bi-colour precious stones, diamonds, pearls or natural materials (wood, shells, horn, bone,
terracotta etc.) are preferred in jewellery items. Classical and fashionable designs in bracelets,
necklaces, earrings or brooches are also popular.
Ethnic groups
This group includes many different nationalities with distinctive styles and tastes. They form
an interesting target group for exporters. According to a survey by HBD, foreign residents
in the Netherlands buy at least 40% more jewellery than the native Dutch. In addition,
foreign residents buy more jewellery articles at a time and spend more money on a jewellery
items. Many Dutch jewellery retailers are gradually creating more ethnic designs and styles.
The Netherlands houses people from Surinam, Indonesia, Turkey, Morocco, Former
Yugoslavia, Iraq, Somalia and Iran. The UK is also home to people from the Indian
subcontinent,
parts of Africa and Hong Kong Chinese; France houses nationals from Centraland West
African countries; Germany has large minorities from Turkey and Morocco.
Details on jewellery segments by type can be found in chapter 1 of the CBI market survey
covering the French, UK and German markets.
1.3 Trends
Lifestyle and trading up
Consumers now are more discriminating and discerning in matters of design, style and
quality, and want to express their individuality through their personal choices, including
clothing and jewellery. This trend is not only among young people, but also among older
people who want to look younger, particularly people aged between 35 and 44 years old,
single households, and people between 50 and 60 years old - the baby boomers. Clothing
stores in particular took advantage by offering total outfits, including jewellery. Buyers now
will look for the unusual, appreciate quality and pay for it. Precious jewellery is not just for
special occasions anymore; people wear it every day.
SEGMENTATION
Working women
Working women are the most important segment for jewellery and are the main consumers
in the EU jewellery market. As a result of investments in eastern EU countries and economic
growth since 2005, the number of working women has grown. According to Eurostat, the
ratio
of working women increased from 54.6% to 57.4% of all EU women between 2002 and
2006.
Increases were seen in Austria, Belgium, Bulgaria, Cyprus, Denmark, Greece, Hungary,
Ireland, Luxembourg, Poland, Malta, Romania, Slovakia, Spain and Sweden.
The Scandinavian countries have high ratios of working women, while the eastern EU
countries
are catching up quickly. Women aged between 25 and 54 years were strongly represented,
but the biggest growth was observed in the older age group (55 64 years).
Housewives
Housewives buy a wide range of jewellery, from cheap to expensive (costume or precious).
Younger housewives tend to follow trends and prefer to buy their own jewellery. They do not
object to buying copies of designer jewellery. Earrings and bracelets remain popular, as well
as classic or contemporary styled items.
Children
Children nowadays have more spending power as families are smaller. Girls now wear more
fashionable jewellery at a younger age than previously. This is recognised by the accessory
chains (Claires accessories etc.) as the kids getting older younger (KGOY) trend. Glitter and
bright colours are dominant themes for childrens jewellery, and although the child may
choose the item, their mother normally buys it.
Some children and mothers are influenced by TV programmes on celebrity children
showing
the high expenditure of celebrities (Madonna, Victoria Beckham etc.) on their childrens
outfits, including jewellery. Special jewellery collections for children are increasingly
displayed
by retailers, especially in urban areas. Some clothing brands come with special collections for
children.
Teens and pre-teens
Teens, aged between 13 and 19 years, definitely want to be up with the latest fashions and
regularly visit the accessory chains in shopping centres. They are an important group for
silver, costume jewellery and hair accessories. Depending on the EU country, teens have
quite a lot of money to spend, as pocket money is high. Alternatively, teens earn their own
money by having part-time jobs outside school hours, and in some jobs their outfit is
important. Teens are attracted by adult accessories, including jewellery. They are influenced
by the media, especially soaps, MTV and celebrities (music, movies, video games).
Pre-teens are aged between 8 and 12 years old and are an important segment for costume
jewellery in recent years. Girls are especially fashion-conscious and are influenced by media,
video games and their friends.
For both teens and pre-teens, there are different kinds of jewellery, which can be categorised
into styles (e.g. hiphop jewellery), moods/events (party jewellery), work (glamorous
jewellery), cultures (ethnic or tribal jewellery) or countries (Italian, French, American etc.).
For teens and younger women piercings remain popular. They include navel jewellery, belly
bars, studs (in all shapes), tiny rings, tongue studs, eyebrow rings - most of these are made
of silver, steel or titanium.
TRENDS
Trends
For the young, a brand name is strongly associated with the group to which they want to
belong
and represents a defined personality and status level. The integration of luxury goods has led
to new fashion brands being launched into the market. High fashion houses are increasingly
designing and developing their own jewellery collections. Well-known jewellery companies
are hiring high-profile designers to add further celebrity to their brand.
Romantic jewellery
Another trend is towards romantic jewellery, which expresses the wearers thoughts. Stones,
symbols or amulets that dangle on a chain or on a pendant are especially used in this style.
They can be combined on a charm bracelet or in dangling earrings. Amulets bring good luck
and protect the wearer. There are recognisable oriental and Asian influences, but also
well-known symbols from western culture (hearts, stars, flowers etc.).
Trends in jewellery design were:
oAn abundance of colours, particularly in stones. For example, in 2006/2007, fresh green,
violet, warm yellow and aqua marine blue tones.
oThe use of more unusual stones such as mutilated quartz, chalcedony, druzy, morganite,
kunzite red spinel and cacholong, all of which are coloured stones. They are brightened up
by enamelling as in the designs of Slim Barrett or the Diorette range (Dior).
oAll sorts of combinations, such as stones combined with pearls and embedded in a circle
of diamonds (pave set), or stones combined with corals.
oOrganic forms. Classic forms remain top-class and pure, but the forms are softer and
more flattering. Straight lines are more gentle and beginning to curl. The more curled
shapes can be also seen in platinum jewellery.
oSilver and gold (18 carat) finished in different ways, which could be either a heavily
polished or a patterned matt finish. Surface textures which recall ancient cultures, using
old techniques like granulation have been of interest, especially in gold. With diamonds,
De Beers combines rich texture with cut and uncut diamonds, creating a
QUESTIONNARIE
%
NO; 20%
YES; 80%
YES
NO
Chart Title
Series 3
70%
60%
50%
40%
30%
20%
10%
0%
OCASSIONALLY
EVERY DAY
Series 1
jewllery stall
20%
Jewellery shop
40%
10%
Online
0%
30%
5%
10%
15%
20%
Series 1
25%
30%
35%
40%
45%
Series 1
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
uniqueness
craftsmenship
price
Series 1
material
Series 1
40%
35%
30%
25%
20%
15%
10%
5%
0%
sliver
gold
imitation
Series 1
other
CONCLUSION
In this project we have taken in consideration two brands Sia art jewellery and Ambi
a imitation jewellery.
Her sia art jewellery is aretail outlet doing well in suburbs of Mumbai were asambica is a
leading manufacturer and exporter
A survey was done where imitation jewellery gained more votes than diamond and gold
jewellery.this is because rise in prices of gold jewellery. Also imitation jewellery is easy to
carry and light in weight so can be used daily .next we focused on marketing mix of sia
jewellery were took into consideration the latest sia collection
References
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num=10&hl=en&authuser=0&site=imghp&tbm=isch&q=SIA%20ART
%20JEWELLERY%20CLUTHES&oq=SIA%20ART%20JEWELLERY
%20CLUTHES&biw=1366&bih=664&sei=nBxxUfXSPIXprQfGuIHgCQ
http://www.bing.com/images/search?
q=images+of+sia+art+jewellery+pearl+set&FORM=HDRSC2