Study of Consumer Buying Behaviour on Diamond Jewellery Industry

Executive Summary
The Indian gems and jewellery sector is expected to grow at a compound annual growth rate (CAGR) of around 14 per cent from 2009 to 2012. The Indian gem and jewellery industry posted 16 percent growth in exports in fiscal year 2009-2010 compared with the previous year, according to the Gem and Jewellery Export Promotion Council (GJEPC). The Indian gem and jewellery market is dominated by the unorganised sector. At present, the domestic diamond market is pegged at Rs 12,000 crore and the total jewellery market in the country is worth Rs 70,000 crore. According to the CARE report on the Indian gems and jewellery industry, India dominates the diamond processing trade with 11 out of 12 diamonds being cut and polished in India. India also dominates the gold and silver consumption globally with consumption of about 800 tonnes per annum. The industry provides employment to 1.3 million people. In the global Diamond market, Indian Diamonds account for 55 percent share in value terms, 80 percent share in caratege(weight) terms and 90 percent share in volume terms. Today there is an entire range of Diamond in nearly every size, quality and cut. The Indian diamond industry has the world's largest cutting and polishing industry, employing around 800,000 people (constituting 94 per cent of global workers) with more than 500 hi-tech laser machines. The industry is well supported by government policies and the banking sector with around 50 banks providing nearly $3 billion of credit to the Indian diamond industry. The Gems & Jewellery Promotion Council is India's certification authority. The government's Central Board of Excise and Customs has banned the import or export of rough diamond shipments, which are not accompanied by a Kimberley Process certificate launched in Switzerland. Certification for quality diamonds and jewellery has given a fillip to exports and has resulted in greater acceptance of Indian products in the world market.

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Study of Consumer Buying Behaviour on Diamond Jewellery Industry

Rizvi Institute of Management Studies & Research

Study of Consumer Buying Behaviour on Diamond Jewellery Industry

Tanishq is the market leader in the branded Diamond jewellery followed by Gitanjali Gems Ltd. and Rosy Blue Group. Gem & Jewellery Council has launch brand ‘Anant’ which is a part of its ongoing India Diamond Jewellery Promotion (IDJP) campaign, whose sole mission is to promote Diamond jewellery trade in India. This apex body of the gem & jewellery industry has played a significant role in the evolution of the Indian gem and jewellery industry to its present stature. There are different segment in Diamond jewellery i.e Diamond perfectly blends with Ruby, Tahitian, Pearl and Gold. This study gives an overview about the different segment where Diamond jewellery market in India is concentrated and also helps in understanding the 4C’s i.e Cut, Colour, Carat, Clarity of the Diamond jewellery. The report gives insight about the consumer buying behaviour and the factor which influences it such as cultural factor, social factor, personal factor and psychological factors. It discusses about the six steps of the consumer buying decision and also explains the internal and external parameter of the jewellery industry. From the research conducted by National Jeweller magazine the top ten reasons for why women wear Diamond jewellery have been highlighted. According to a study conducted by JCK magazine 67 percent of all jewellery is planned purchase and 33 percent is an impulse purchase. More than 50 percent of jewellery shopper feels that the product quality, salesperson’s honesty, service, store reputation and salesperson’s knowledge as important factor. Less than 50 percent of jewellery shopper feels that store display, brand name, store location, advertising and store hours as important factor.

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Since diamond jewellery industry is booming the report will also provide the information about what sort of promotion activity influences the purchases of diamond jewellery and what are the Rizvi Institute of Management Studies & Research . Cut determine how bright the Diamond will shine. Premium Cut. An attempt has also being made to study their preference about the different combination of metal and stone with the diamond jewellery. For this purpose the grading are done on the Diamond jewellery and grades are Ideal Cut. Very Good Cut. Now it becomes more important to identify which type of cut for Diamond jewellery should be purchased. Good Cut and Fair & Poor Cut. As we can see that Diamond jewellery is growing at higher space and even the recession could not affect the growth of the diamond jewellery there is a need to study the consumer buying behaviour in diamond jewellery industry. An effort has also been made to understand the buying pattern and the most preferred technical feature if the diamond jewellery.Study of Consumer Buying Behaviour on Diamond Jewellery Industry The report explains the parameters to consider while buying Diamond jewellery and explains the different kind of cut which is done on the Diamond. The main purpose of conducting this research is to study the preference of the diamond jewellery over the other jewellery. In the past decade more than 40 brands of diamond jewellery has been launched by the players in the diamond market.

........8 Tanishq.......1Cultural Factors....................42 3.3...............7 Shrenuj & Company Ltd.....................40 Chapter 3: Consumer Buying Behaviour..................................1 4C’s of Diamond Jewellery..5 Chapter 1: Introduction to Indian Jewellery Market...3............................................7 1....................................................1 Exports...................1 Certification...........................................................................................................................5........2 Sector Structure/Market Size........3 Personal Factors...32 2....1..42 3..................................................3......................................4 Gitanjali Gems Ltd..........................29 2..4 Different segment of Diamond jewellery.........3..12 2..............................................1 Overview of Diamond Jewellery Market in India.3 Retail Sector.......................................2 Fine Jewellery (India) Limited.....1...................................1 Concept Jewellery India Pvt Ltd......1 1.............................................................1................................................19 2.............................................................17 2...................................................................................... 13 2...........3 1...................................................................................35 2....................11 2.......3 Gem & Jewellery Export Promotion Council.........................................................2 Government Initiatives....................................11 2.............................................................................3.......................................30 2..28 2.....................................................................................................................................................................................2 Northern Group......................3....15 2.....................................42 3....................3...............22 2..........2............5 Rosy Blue Group..............25 2...............20 2...................27 2.................4...................................................................1...............................43 Rizvi Institute of Management Studies & Research ......................................................................42 3...Study of Consumer Buying Behaviour on Diamond Jewellery Industry Table of Contents Table of Contents.....................................3 Major Players in Diamond Jewellery Industry.................................................................................................32 2.2 Major geographical areas in India were Diamond Market is Concentrated........................................................................6 Sheetal Group of Companies.......................4. 6 1................3..............................2 Social Factors.......................................................................1 1.4 Large Market Opportunity........................10 Chapter 2: Diamond Jewellery Market. 7 1......................1 Defining Consumer Buying Behaviour......2 Diamond Anatomy .............5 Technical features of Diamond jewellery..........1 Industry Overview.......................5...........

......43 3.....................6.............4 Research Objectives.................................3 Consumer Buying Behaviour in Jewellery Industry.............................58 5............................................4 Psychological Factors..................5 Hypothesis..............................107 List of Tables.....................................................................61 5..........................................................................63 6..........................................62 Chapter6: Data Interpretation & Analysis.................................................50 4......................44 3...................................................................116 Books............Study of Consumer Buying Behaviour on Diamond Jewellery Industry 3......................................................60 5........................................................116 Magazines......................................................................................................57 5...................................................................................1 Role of Consumer Buying Behaviour in Diamond Jewellery Industry...............................................................................................60 5..........116 Rizvi Institute of Management Studies & Research ........107 Questionnaire...........................................................................62 5......................................................................1 Need & Significance..............47 4..................................2 Scope ......116 Web Sites..................................115 Bibliography....................... 47 4..............................................................1.............. 101 Chapter7: Recommendations............................................7 Sources of Data Collection.........................................................................................57 5...............6..............................................................................................................................................................................................46 Chapter 4: Relationship of Consumer Buying Behaviour with Diamond Jewellery Industry.....2 Important Attribute of Consumer Buying Behaviour effecting Diamond Jewellery Industry.........................................................................................2 Importance of Consumer Buying Behaviour.................................................3 Methodology....................................56 5....................8 Sampling Procedure................................2 Place of Research........................................................................................104 Annexure........................................56 5...............1 Accuracy of the project .........................1 Summary.............................................................................................................................................................................................................................................114 a)List of Figures...................55 Chapter 5: Research Methodology.....6 Limitation of the Study...........1................................................................................56 5.........................1 Parameters to consider while buying Diamond Jewellery..............

The gems and jewellery industry can be classified into various sub segments like diamonds. primarily through Rizvi Institute of Management Studies & Research Page 1 . the two major segments in India are gold and diamonds.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Chapter 1: Introduction to Indian Jewellery Market 1. Demand for gold and diamond jewellery is driven by festivals and wedding. mainly in branded jewellery. The country was also the first to mine. etc.3 million people directly and indirectly.1 Industry Overview Gems and jewellery has been used by the Indian civilisation since ages for both its aesthetic as well as investment purposes. etc. labour intensive operations. price volatility of gold especially and export orientation. coloured stones. Changing lifestyle and urbanization are also fuelling the growth in the gems and jewellery industry. India also dominates the gold and silver consumption globally. However. gold and silver jewellery. Urban consumers in India have become more exposed to western lifestyles. The industry is characterised by highly unorganised trade. The industry holds prominent significance as it is a net exporter and provides employment to 1. India has the distinction of being the first country to introduce diamonds to the world. pearls. Precious metals and stones have been an integral part of the Indian civilisation since its recorded history. India dominates the diamond processing trade with 11 out of 12 diamonds being cut and polished in India. increase in per capita spend on luxury items. working capital & raw material intensiveness. which is expected to grow over 40% in the coming years. increasing affluent and middle class population. cut & polish and trade in diamonds.

Exports of cut and polished which posted a 20. according to a media release.6 billion in the prior financial year. followed by gold jewellery at 31.7 percent of India's gem and jewellery exports. This has led to increased preference for products and designs that are popular abroad.2 percent and coloured gemstones with 5.5 billion. For instance. Cut and polished diamonds accounted for 61. Rizvi Institute of Management Studies & Research Page 2 . there is a shift towards machine-made jewellery over the traditional handcrafted jewellery.1-percent rise to $17. up from $14. The Indian gems and jewellery sector is expected to grow at a compound annual growth rate (CAGR) of around 14 per cent from 2009 to 2012.1 percent. The Indian gem and jewellery industry posted 16 percent growth in exports in fiscal year 2009-2010 compared with the previous year.Study of Consumer Buying Behaviour on Diamond Jewellery Industry overseas travelling. according to the Gem and Jewellery Export Promotion Council (GJEPC).

1 billion and the All India Gems and Jewellery Trade Federation. India is also emerging as the world's largest trading centre for gold targeting US$ 16 billion by 2012. The country is also the largest consumer of gold in the world. The proportion of working pollution has also been consistently increasing along with the increasing per capita income. Research indicates that the rural jewellery market in India is set to grow strongly despite the global economic meltdown.2 billion in two to three years.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 1. It consumes nearly 800 tonnes of gold that accounts for 20 per cent of world gold consumption. a nodal agency representing 300. Overall sales of jewellery Rizvi Institute of Management Studies & Research Page 3 . This has resulted in increasing disposable income and discretionary spending by Indian consumers leading into a change in consumer behaviour towards demand for branded and luxury products.2 Sector Structure/Market Size The Indian gems and jewellery industry is one of the fastest growing segments in the Indian economy with an annual growth rate of approximately 40 per cent. The industry has the best skilled manpower for designing and producing high volumes of exquisite jewellery at low labour costs. expects it to grow to US$ 25. of which nearly 600 tonnes go into making jewellery. The Indian consumer population is among the youngest in the world with nearly two-thirds of the population below 35 years of age.000 jewellers across the country. The domestic market is estimated to be around US$ 16.

86.Study of Consumer Buying Behaviour on Diamond Jewellery Industry dominated by the plain gold variety in India through 2008 rose by 23 per cent over 2007 to Rs.000 crores and rural areas accounted for Rs. Last year rural areas witnessed a 24 per cent growth in gold jewellery sales in terms of value.000 crores. 52. Rizvi Institute of Management Studies & Research Page 4 .

Study of Consumer Buying Behaviour on Diamond Jewellery Industry The reasons attributed for the growth are: (i) The majority of working women in rural India do not invest in stocks and shares or use other investment instruments and they usually invest their surplus money in jewellery. Rizvi Institute of Management Studies & Research Page 5 . (iii) Rural markets are less affected by the global meltdown as they are agriculture-based. (ii) The rural families allocate fixed budgets to buy jewellery for weddings and they buy jewellery at this time irrespective of whether gold prices are high or not.

However. Moreover. The World Gold Council recently estimated the size of India's gold coin market at about US$ 2. In order to increase the demand during recession. with the Indian consumer becoming more aware and quality conscious. jewellers are concentrating on newer designs in light weight jewellery.70 billion. It is expected to register a 12 per cent growth by 2012.11 billion. attracting both global and domestic players to this sector. branded jewellery is becoming very popular and the market for branded jewellery is likely to be worth US$ 2.2 billion by 2010. Rizvi Institute of Management Studies & Research Page 6 . Research indicates that the jewellery and watches market is pegged at about US$ 13.3 Retail Sector The Indian gems and jewellery market continues to be dominated by the unorganised sector.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 1. touching US$ 23.60 billion. the government allows 51 per cent FDI in single brand retail outlets.

1 Exports Figure 1.4 Large Market Opportunity Changing trends leading to increased consumerism in the Indian retail market: 1.34% in rupees term) as compared to US$ 1301.4.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 1.93 million (rupees 6332.1 – Indian Gems & Jewellery Export in Dec-09 The overall exports of Gems & Jewellery at US$ 1892.58 crores) of same period previous year.32 million (rupees 8823.35% (39.89 crores) in month of December 2009 is showing a growth of 45. Also the US Rizvi Institute of Management Studies & Research Page 7 . The higher growth in export & import during December 2009 is in fact due to the reason that the trade voluntarily stopped the import of Rough Diamonds for one month (24th November 2008 to 23rd December 2008) resulting in the decline of import and thus the exports.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry recession and economic down turn seriously affected the overall Exports & Imports of gem & jewellery during December 2008.

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Study of Consumer Buying Behaviour on Diamond Jewellery Industry

The overall export of Cut & Polished diamonds at of US$ 1289.09 million (Rupees 6011 crores) in month of December 2009 is showing a growth of 65.68% (58.83% in rupees term) as compared to US$ 778.07 million (rupees 3784.56 crores) for the same period of previous year. As stated earlier the growth is due to less export in December 2008. Provisional export of gold jewellery for December 2009 at US$ 508.62 million (rupees 2371.71 crores) shows growth of 4.38% (growth of 0.07 rupee term) over the comparative figure of US$ 487.27 million (rupess 2370.10 crores) December 2008. Export of Coloured Gemstones at US$ 15.18 million (in Rupees 70.80 crores) shows a growth of 310.27% (+293.68 in rupee term) during December 2009 as compared to US$ 3.70 million (rupees 17.99 crores) in December 2008.

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Study of Consumer Buying Behaviour on Diamond Jewellery Industry

1.4.2 Government Initiatives The Indian government has provided an impetus to the booming gems and jewellery industry with favourable foreign trade policies:  100 per cent foreign direct investment (FDI) in gems and jewellery through the automatic route is allowed.  The government has lowered import duty on platinum and has exempted rough coloured precious gems stones from customs duty.  Rough, semi-precious stones are also exempt from import duty.  Duty-free import of consumables for metals other than gold and platinum up to 2 per cent of freight on board (f.o.b) value of exports.  Duty-free import entitlement for rejected jewellery up to 2 per cent of f.o.b value of exports.  Import of gold of 18 carat and above under the replenishment scheme.  Setting up of SEZs and gems and jewellery parks to promote investment in the sector.  In May 2007, the government abolished import duty on polished diamonds.

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The cost per carat for cutting and polishing diamond was US$ 10 in India as compared to US$ 17 in China and US$ 150 in Belgium. The country has world’s one of the best skilled manpower to design and make high volumes of exquisite jewellery at relatively low labour cost. India has a large pool of skilled and low cost man power for its gems and jewellery industry.000 crore. The gold jewellery market is growing at 15 per cent per annum and the diamond jewellery market at 27 per cent per annum.on-year.1 Overview of Diamond Jewellery Market in India India is the largest diamond cutting and polishing centre in the world—the industry enjoys 60 per cent value share. 82 per cent carat share and 95 per cent share of the world market in terms of number of pieces. 80 per cent share in caratage (weight) terms and 90 per cent share in volume terms. Today there is already availability of an entire range of diamonds in nearly every size. quality and cut. nearly 9 out of 10 diamonds sold worldwide are cut and polished in India. India exported cut and polished diamonds worth US$ 13.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Chapter 2: Diamond Jewellery Market 2.02 billion in 2008-09. Indian diamonds account for 55 per cent share in value terms. In other words. At present. the domestic diamond market is pegged at Rs 12. It also has the largest resource hub in diamond cutting Rizvi Institute of Management Studies & Research Page 11 . (Reported on 28th March 2010) In the global diamond market today.000 crore and the total jewellery market in the country is worth Rs 70. The Indian diamond market is likely to grow at 20 per cent to touch Rs 1lakh-crore in the next five years whereas gold will grow at 8-10 per cent year.

1.1 Certification Following the World Diamond Council's statement on adopting credible and effective measures against the trade in conflict gems. the Indian government has tightened its certification process for international trade. 2. the industry has set up a worldwide distribution network. The largest consumer of gold worldwide.000 offices for the promotion and marketing of Indian diamonds. India is have its diamond bourse functioning at Mumbai. The Indian diamond industry has the world's largest cutting and polishing industry.Study of Consumer Buying Behaviour on Diamond Jewellery Industry and processing. either in the form of polished diamonds or finished diamond jewellery. India is also the leading diamond cutting nation. The Indian gems and jewellery industry is competitive in the world market due to its low cost of production and the availability of skilled labour. thereby resulting into the growth of the industry. Low cost of labour involved in production of finished diamonds has lured global attention. India is therefore a significant player in the world gems and jewellery market both as a source of processed diamonds as well as a large consuming market. uncut diamonds processed in India are exported. In addition. Major portions of the rough. of more than 3.000 people (constituting 94 per cent of global workers) with more than 500 hi-tech laser machines. Rizvi Institute of Management Studies & Research Page 12 . employing around 800. The industry is well supported by government policies and the banking sector with around 50 banks providing nearly $3 billion of credit to the Indian diamond industry.

the offices are located within a radius of less than half a mile.2 Major geographical areas in India were Diamond Market is Concentrated India’s diamond processing hub is Surat. The government's Central Board of Excise and Customs has banned the import or export of rough diamond shipments. The industry employs close to 4. had developed into a diamond distribution centre in West Asia. Opera House area houses the traditional Diamond district of India. coming up in Mumbai.03 billion. in Mumbai (Bombay) & the major manufacturing center is in the near-by city of Surat. Certification for quality diamonds and jewellery has given a fillip to exports and has resulted in greater acceptance of Indian products in the world market. Dubai. In recent years. till last year. which are not accompanied by a Kimberley Process certificate launched in Switzerland. According to industry estimates.500 units and. contributing over 80 per cent of the country's diamond processing industry with annual revenue of around US$ 13.5 lakh workers in 4. The Surat diamond industry cuts and processes 80% of the world’s rough stones from Belgium. attrition was at 40% In India. The trade-related areas of interest are Andheri. Andheri may be considered as the start point (North) and is where the International Airport lies. Andheri has the single largest concentration of jewellery manufacturing facilities in the world. being a port location.a world class diamond trading facility.Study of Consumer Buying Behaviour on Diamond Jewellery Industry The Gems & Jewellery Promotion Council is India's certification authority. Rizvi Institute of Management Studies & Research Page 13 . the Diamond trade and offices are located. 10-15 per cent of India's total polished diamond exports go through Dubai. Bandra is looking forward to the 'Diamond Bourse' . 2. Bandra and Opera House. Bandra may be considered as the mid-point & Opera House may be considered the end point (South).

Andhra Pradesh and Karnataka. Madhya Pradesh. Rizvi Institute of Management Studies & Research Page 14 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry Diamond mining is concentrated the Indian states of Jharkhand. Orissa.

2 Northern Group In the Bundelkhand district of the then Central Provinces. Kurnool.1 Southern Group These mines of the southern group were the most famous and contributed to the legendary diamonds. which includes parts of Anantapur.2. Krishna and West Godavari. most of the shallow Rizvi Institute of Management Studies & Research Page 15 . 2. between the rivers Ken and Son lie the northern group of workings. There are three types of deposits a) alluvial terraces. as well as the entire span of the Krishna River belt. In the earlier days. have been recorded in the 16th century AD.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Grouping is done according to the location of mines Figure 2.1 – Grouping of Diamond mine according to the location 2. b) conglomerate rocks and c) volcanic pipe situated at Majhgawan which lies 12 miles south west of Panna. The Panna Diamond Mines as they are popularly known. Guntur.2. It comprises a vast area. Cuddapah. The mines were stretched across the vast land from the Godavari River near Hyderabad to the Pennar River in the south.

various places in the Boudh districts have yielded diamonds. After the monsoon season.2. Bondisar in Kalahandi district. The eastern group further continues in the Mahanadi river valley in the neighbourhood of Sambalpur district of Orissa as well as in the Raipur district of the newly formed Chhatisgarh State.sized diamonds were found in the gravel deposits. large. It is said the area near the Hirakud Dam. Rizvi Institute of Management Studies & Research Page 16 . 2.3 Eastern Group The eastern group spreads from Chhotanagpur plateau in the basins of rivers (Sankh and Koel which come together to become river Brahmani) in the Ranchi District (23° 16': 84° 17') and in Palamau (23°35': 84°21') where occasionally large diamonds especially blue coloured diamonds have been found. especially after the intense flooding of the regions.Study of Consumer Buying Behaviour on Diamond Jewellery Industry gravels especially the alluvial and lateritic as well as the exposed conglomerates were worked on. Most of this region has Pre-Cambrian rocks and therefore besides diamonds other gemstones have also been found here.

000 crore and the total jewellery market in the country is worth Rs 70. The domestic market consists of local jewellers. Rizvi Institute of Management Studies & Research Page 17 .2 – Market Share of Major Players in Diamond Industry The domestic diamond market is pegged at Rs 12. big jewellery companies without brands and big jewellery companies with brand.(Reported on 28th March 2010).Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2.000 crore.3 Major Players in Diamond Jewellery Industry Market share of major players is as follows: Figure 2.

has 24%. Fine Jewellery (India) Limited has 3%.. Goldiam international Ltd. Concept Jewellery India Pvt Ltd has 2%..Study of Consumer Buying Behaviour on Diamond Jewellery Industry The market share shown above is of the branded companies with brand and ‘others’ includes company which doesn’t have brands but they sell certified Diamond jewellery. Classic Diamond (India) Ltd.. Gem & Jewellery Export Promotion Council has 2% and Rosy Blue Group has 2% of market share. Ltd etc. Among the branded jewellery Tanishq has the highest market share of 25%. Gitanjali Gem Ltd.. Sheetal Group of Companies has 3%. Rizvi Institute of Management Studies & Research Page 18 . All these companies totally has the market share of 31%. Some of these kind of companies are Vaibhav Gems Ltd. Shrenuj & company Ltd. Su-raj Diamonds & Jewellery Ltd. Rajesh Exports Pvt. has 8%.

Adora Diamonds were launched in India in July 2003 by Mumbai based Concept Jewelry (India) Ltd. occasion. and phase of life through its up and downs. is Adora. The Swaranjali signature collection of living legend Lata Mangeshkar is a unique feature of Adora diamonds. Each piece of Swaranjali collection is conceptualized and approved by Lata Mangeshkar and bears her laser printed signature. Adora means glory in Spanish and claims that its diamond collection is themed on love. On the present day the still expanding retail network centers of Adora expands to 117 outlets in 47 cities of India.3.1 Concept Jewellery India Pvt Ltd The brand launched by Concept Jewellery India Pvt Ltd. Adora diamonds are for adornment of every moment.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2. Rizvi Institute of Management Studies & Research Page 19 .

Internationally acclaimed Nirvana diamonds are manufactured by using state-of-the-art technology. As a proof of their quality Nirvana was among one of the brands to offer lifetime warranty to its consumers.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2.3. was launched in 2002 in India. Nirvana diamonds are targeting at fashion conscious. Nirvana Diamonds from Fine Jewellery (I) Ltd. Rizvi Institute of Management Studies & Research Page 20 . modern and independent thinking women.2 Fine Jewellery (India) Limited The brand launched by Fine Jewellery (I) Limited is Nirvana.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Rizvi Institute of Management Studies & Research Page 21 .

whose sole mission is to promote diamond jewellery trade in India.3. Sonam Kapoor. 'Anant' is the first of its kind initiative by the industry. Part of the recently announced initiative. Rizvi Institute of Management Studies & Research Page 22 . Unveiled by the timeless beauty. being jointly undertaken by the GJEPC with retailers.3 Gem & Jewellery Export Promotion Council The Gem & Jewellery Export Promotion Council (GJEPC) has launch 'Anant'. manufacturers and miners.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2. for the industry to boost and sustain growth of diamond jewellery in India. 'Anant' is available at over 200 retail outlets across the country. an exquisite range of single line diamond jewellery exclusively for the Indian consumer on 17th September 2009. 'Anant' is part of GJEPC's ongoing India Diamond Jewellery Promotion (IDJP) campaign. Manufacturers and retailers will sell single line diamond jewellery under the brand name 'Anant'".

1 Role of Gem & Jewellery Export Promotion Council (GJEPC) Set-up in 1966.3.3. To Rizvi Institute of Management Studies & Research Page 23 . publications and audio-visuals. sending and hosting trade delegations.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2. This apex body of the gem & jewellery industry has played a significant role in the evolution of the Indian gem and jewellery industry to its present stature. The Council also grants membership. The role of GJEPC can be broadly classified under the following categories:  Trade Facilitator The Council undertakes direct promotional activities like organising joint participation in international jewellery shows.  Nodal Agency for Kimberley Process Certification Scheme GJEPC works closely with the Government of India and the trade to implement and oversee the Kimberley Process Certification Scheme. The Council takes up relevant issues with government and agencies connected with exports and submit documents for consideration and inclusion in the Exim Policy. and sustained image building exercises through advertisements abroad.  Advisory Role Council has also been aiding better interaction and understanding between the trade and the government. GJEPC is continuously working towards creating a pool of artisans and designers trained to international standards so as to consolidate the Indian jewellery industry and establish it as a prominent global player in the jewellery segment. the GJEPC has over the years effectively moulded the scattered efforts of individual exporters to make the gem and jewellery sector a powerful engine driving India's export-led growth. registration certificates and performs other roles as per the Exim Policy.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry that effect, the Council has been appointed as the Nodal Agency in India under the Kimberley Process Certification Scheme.

 Training and Research The Gems & Jewellery Export Promotion Council runs a number of institutes that provide training in all aspects of manufacture and design in Mumbai, Delhi, Surat and Jaipur. These training programs are being conducted to ensure that the Indian industry achieves the highest levels of technical excellence.  Varied Interests The Council also publishes a number of brochures, statistical booklets, trade directories and a bi-monthly magazine - Solitaire International, which is distributed internationally as well as to its members. Finally, the Council has also developed its own promotional audiovisual film - 'India Your First Choice', which is dubbed in various international languages as well as screened at various trade shows.

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Study of Consumer Buying Behaviour on Diamond Jewellery Industry

2.3.4 Gitanjali Gems Ltd Gitanjali Gems Limited, a DTC sightholder, is one of the largest integrated diamond and jewellery manufacturers and retailers in India. Its operations include sourcing of rough diamonds from primary and secondary source suppliers in the international market, cutting and polishing the rough diamonds for export to its international markets, and the sale of diamond and other jewellery through GGL's retail operations in India, as well as in international markets. GGL also sells its branded diamond and other jewellery products under brands, such as Nakshatra, Lucera, Calgaro, Rivaaz, Desire, Stefan Hafner, Kashvi, Ezee Diamonds, Maya, Diya, Rosata, Asmi, Gili, D'Damas, Sangini, Collection G and Vivaha Gold, in India through its network of approximately 840 outlets. The Gitanjali Group has extensive knowledge and experience with US product ranges for over two decades.

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Study of Consumer Buying Behaviour on Diamond Jewellery Industry

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3. ORRA has 33 exclusive diamond boutiques across India. PGI (Platinum Guild India) & WGC (World Gold Council). Rizvi Institute of Management Studies & Research Page 27 .5 Rosy Blue Group Rosy Blue Group launched the brand ORRA in the year 2004. In any size.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2. shape and colour ORRA have a diamond. DTC (De Beers). It is the only jewellery company in India which has tie-ups with the three leading jewellery organizations namely. 1 in every 25 diamonds is a Rosy Blue diamond.

Kiah diamonds are claims to be for celebrating womanhood. The brand name 'Kiah' means beautiful place.3. 2004. On the latest Kiah diamonds have won the Best Showroom in the DTC Diamond Season for 2005-2006. Rizvi Institute of Management Studies & Research Page 28 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2.6 Sheetal Group of Companies World's largest volume manufacturer of diamonds-Sheetal manufacturing Company (SMC) launched its exquisite Kiah diamond collection in October.

Lavanya. Mastercut. The company have 14 distinct brands. each focused on meeting the needs of a target consumer segment. Fiana. Caro74. Sveni. Bhavya. In 2003. Syntila88. Lumé.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2. Valina etc. Rizvi Institute of Management Studies & Research Page 29 . company added retailing operations to the Group. giving a direct route to take diamonds right through to the consumer.3.7 Shrenuj & Company Ltd. Hot diamonds. Shrenuj & Company is diamond manufacture company which owns brands such as Amante88. Trapz. This completed their pipeline integration. Arisia. Lorenzo.

who specialize in different ways of making the Jewellery.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2. most desirable and fastest growing Jewellery brand in India. Rizvi Institute of Management Studies & Research Page 30 . launched in 1995. Tanishq diamonds comprises fashion and style in tradition bound category through its innovation driven 'collections' strategy.8 Tanishq Tanishq diamonds are India's largest. On the present day Tanishq has 84 outlets in 61 cities of India. Tanishq diamonds bring together the work of Karigars. Asin is the brand ambassador for Tanishq. is the Jewellery business group of Titan Industries Ltd. Tanishq diamonds embark the aspiration of emerging Indian women who uses tradition rather than being used by it.3. Tanishq.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Rizvi Institute of Management Studies & Research Page 31 .

from necklaces to rings. There are other combinations such as Diamonds with silver.4 Different segment of Diamond jewellery Diamonds perfectly blends with Ruby. emeralds and many such precious stones in different combinations. They enhance the owner’s etc. ruby and Tahitian pearls gives that additional touch of elegance to all jewellery. Special diamond ruby necklace or pearl necklace makes you look more gorgeous than ever. Diamond is formed under extreme heat and pressure deep within the Earth's crust. attire as matching designer jewellery. from bracelets to pendants. The arrangement of stunning diamonds amidst fine gold gives the touch of traditional India and at the same time keeps up to the designs of the current tastes.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2. Pearls and Gold. gold. Most diamonds are found in rock structures are known as Kimberlite. rubies. Tahitian. coloured stone. from bangles to earrings. The combination of diamonds with gold. and come to the surface via volcanoes. diamonds are combined with sapphires. platinum 2. Carbon has three configurations  Powder carbon  Graphite carbon (similar to the lead in your pencil) and  Diamond The types of diamonds depend on the molecular arrangement of the carbon atoms in relation to each other. Now days. Rizvi Institute of Management Studies & Research Page 32 .5 Technical features of Diamond jewellery Diamond is the purest form of carbon.

which comes in colours like red.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Diamonds are colourless. blue. pink. green. but there are rare diamonds. Rizvi Institute of Management Studies & Research Page 33 . yellow. brown and black.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry The different shapes of the diamonds – Round Brilliant Emerald Heart Marquis e Oval Pear Princess Figure 2.3 – Different shapes of Diamond Rizvi Institute of Management Studies & Research Page 34 .

Cut – refers to angles and proportions of a diamond. The good news is that you don’t need to buy the rarest diamond to find one whose beauty speaks to you. The rest (colour.5. Diamonds with the combination of the highest 4Cs ratings are rarer. Light is the element that ignites a diamond’s brilliance and fire.1 4C’s of Diamond Jewellery The 4Cs are used throughout the world to classify the rarity of diamonds. Its interplay with each of the 4Cs will help explain why one diamond can appear more beautiful than another. and consequently more expensive.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2. clarity and carat) are created naturally as diamonds form in the earth. Cut is the only one of the 4Cs of diamonds that is influenced by the human hand. Rizvi Institute of Management Studies & Research Page 35 .

4 – Different Angles of Cut Rizvi Institute of Management Studies & Research Page 36 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry Figure 2.

refers to the degree to which a diamond is colourless.5 – Types of Grading for Colour in Diamonds Carat . The differences between one grade and another are very subtle.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Colour . Figure 2. The better the colour the higher the price. 1 carat is equal to 20miligrams or 5carats is equal to 1gram Figure 2. The colour grading scale of the diamonds varies from totally colorless to light yellow. The diamonds are measured in carats (cts. as can be seen by the number of grades within any one category.). One carat is divided into 100 points.6 – Types of Carat for Diamond Rizvi Institute of Management Studies & Research Page 37 .refers to the weight of a diamond.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Since diamonds are measured by carat weight. Rizvi Institute of Management Studies & Research Page 38 . and not size (or diameter). two diamonds of the same weight could have different sizes.

Solitair Single large stone is called solitaire.7 – Types of Clarity in Diamond FL and IF clarity VVS and VS clarity SI1-SI2 clarity I1-I3 clarity Internally flawless. The stone weight from 0. e Rizvi Institute of Management Studies & Research Page 39 . rs Thirds The stone weight from 0.065cts are called malee. Stone sizes from 0. Very rare and very expensive Very Very slight inclusions Very slight inclusions very poor quality used as promotional Terminology used in diamond trade – 1 2 3 4 5 6 7 Pointe rs Stars Malee Quarte Decimal sizes are called pointers i.02cts or 1 and 2 pointers are called stars Stone sizes from 0.025cts to 0.e.50cts.30cts to 0. It is very difficult to see these inclusions with the naked eye. These inclusions neither mar its beauty nor endanger the diamond’s durability.refers to the presence of inclusions in a diamond. 0.33cts.01 is one pointer. Figure 2. Hence the diamonds are graded for clarity. Diamonds brilliance can be hindered by interior or exterior inclusions.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Clarity . which are called flaws.23cts to 0. Half’s The stone weight 0.001cts to 0.25cts.

8 – Diamond Anatomy  Diameter The width of the diamond as measured through the girdle. below the girdle. It is sometimes referred to as the base.2 Diamond Anatomy The graphic and supporting text below explain the various "parts" of a diamond. Rizvi Institute of Management Studies & Research Page 40 . which is the portion of a cut gem below the girdle. flat top facet of a diamond. It is the largest diameter to any part of the stone.  Pavilion The lower portion of the diamond. Figure 2.  Table This is the large.  Girdle The narrow rim of a diamond that separates the crown from the pavilion.  Crown The upper portion of a cut gemstone. above the girdle.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 2.  Culet The tiny facet on the pointed bottom of the pavilion.5.

Rizvi Institute of Management Studies & Research Page 41 . from the culet to the table.Study of Consumer Buying Behaviour on Diamond Jewellery Industry  Depth The height of a gemstone.

A person’s reference group consists of all the groups that have a direct (face to face) or indirect influence on the person’s attitudes or behavior. This behaviour displayed by the consumer is the result of a number of influences which he/she receives from the environment. racial groups and geographic regions. Personal factors and Psychological factors. People also belong to secondary groups such as religious. Each culture consists of smaller subcultures that provide more specific identification and socialization of its members. religions. These influences can be categorized into four factors viz. neighbors and coworkers with whom the person interacts fairly continuously and informally. Groups that have direct influence on a person is called as membership groups. family and social roles and statuses. Social factors. 3. such as family. Cultural factors.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Chapter 3: Consumer Buying Behaviour 3. Aspirational groups Rizvi Institute of Management Studies & Research Page 42 . Subculture includes nationalities. Culture is the fundamental determinant of a person’s wants and behaviour. subculture and social classes are particularly important in buying behaviour. professional and trade union groups which tend to be more formal and require less continuous interaction. Some membership groups are also called as primary groups. Each and every consumer has his/her own buying behaviour that he displays it during purchase of different products. 3.1 Defining Consumer Buying Behaviour Consumer Buying Behaviour is the behaviour that a consumer display while buying the product or a service.1Cultural Factors Culture. friends.1.1.2 Social Factors In addition to cultural factors a consumer’s behavior is influenced by such social factors as reference groups.

most foods in the growing matured years and special diet in the later years. 3. People from same subculture. interest and opinions.4 Psychological Factors A person’s buying choices are influenced by four major factors viz. and family members constitute the most influential primary reference group. clubs. A lifestyle is a person’s pattern of living in the world expressed in activities. People buy different goods and services over a lifetime. A blue collar worker may buy work clothes. air travel and country club membership.3 Personal Factors A buyer’s decisions are also influenced by personal characteristics. A company president may buy expensive suits. A role consists of the activities a person is expected to perform. believes and attitudes. economic circumstances. Rizvi Institute of Management Studies & Research Page 43 . The person’s position in each group can be defined in terms of role and status. perception. learning. lifestyle and personality and self concept. motivation. 3. organizations.1. Each role carries a status. They eat baby food in the early years.1. These include the buyer’s age in the life cycle. dissociative groups are those whose values and behavior an individual rejects. Occupation also influences consumption patterns.Study of Consumer Buying Behaviour on Diamond Jewellery Industry are those a person hopes to join. The family is the most important consumer buying organization in society. occupation. A person participates in many groups-families. social classes and occupation may lead quite different lifestyles. work shoes and lunch boxes.

2 Importance of Consumer Buying Behaviour The study of consumer behavior focuses on how individuals make their decisions to spend their available resources (time. use and dispose of products. money.It also study of individuals. select. The consumer buying decision has six stages Figure 3. or ideas to satisfy needs and its impact on the consumer and society. or organisations and the processes consumers use to search. effort) on consumption related itemsor consumption related aspects (What they buy? When they buy? How they buy?). experience.1 – Process of Consumer Buying Decision Rizvi Institute of Management Studies & Research Page 44 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry 3. services.

compares brands and models available at different outlets. Thus consumer buying behaviour can be defined as heightened state of awareness that motivates consumer’s to seek out. Some consumers are characterized as being more involved in products and shopping than others. But those who have spent many years analysing customer activity have presented us with useful “guidelines” in how someone decides whether or not to make a purchase. attend to. The growth of consumerism and consumer legislation emphasizes the importance that is given to the consumer. Hence he reads brochures thoroughly. Rizvi Institute of Management Studies & Research Page 45 . The evaluation of marketing concept from mere selling concept to consumer oriented marketing has resulted in buyer behaviour becoming an independent discipline. and looks for recommendations. Since every person in the world is different.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Buyer behaviour is deeply rooted in psychology with dashes of sociology thrown in just to make things more interesting. and think about product information prior to purchase. asks questions. it is impossible to have simple rules that explain how buying decisions are made. A consumer who is highly involved with a product would be interested in knowing a lot about it before purchasing.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry 3.  Celebrity Endorsement  Promotion  Wide range of Designs  Brand Name  Exhibitions  Launch of new collections Rizvi Institute of Management Studies & Research Page 46 . Marriage.3 Consumer Buying Behaviour in Jewellery Industry Consumer buying behaviour in jewellery industry can be studied on the internal parameters such as  Carat  Combination of a particular metal/stone jewellery with other metals  Colour  Price Other parameters external parameters could be studied are  Popularity of the brand  Trust in the brand  Impact of any occasions such as Festivals. Birthday. Anniversary. Engagement etc.

After ‘price’. When jewellery is a planned purchase. consumers cite “price” as the most important factor that determines which piece of jewellery they are likely to buy. according to the JCK Magazine study. the following factors are most relevant. about 67 percent of all jewellery is a planned purchase.1 Role of Consumer Buying Behaviour in Diamond Jewellery Industry A research conducted by National Jeweller magazine uncovered the top ten reasons women wear diamond jewellery:  Sentimental value          To feel good about self Express individuality Be modern & up-to-date Be cool and trendy Make a good first impression Look professional at work Make a good impression on the opposite sex Be admired and respected Display wealth & status According to a study by JCK Magazine. ranked in order from most important to less important. Rizvi Institute of Management Studies & Research Page 47 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry Chapter 4: Relationship of Consumer Buying Behaviour with Diamond Jewellery Industry 4. while the remaining 33 percent is an impulse purchase.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Rizvi Institute of Management Studies & Research Page 48 .

Study of Consumer Buying Behaviour on Diamond Jewellery Industry More than 50 percent of jewellery shoppers cited these factors as most important:  Product quality     Salesperson’s honesty Service Store reputation Salesperson’s knowledge Less than 50 percent of jewellery shoppers cited these factors as important:  Store display      Brand name Store location Recommendation by another shopper Advertising Store hours Impulse purchases are much more likely to be made by women. Rizvi Institute of Management Studies & Research Page 49 . according to a study reported by Money magazine.

The angles and finish of any diamond are what determine its ability to handle light.1 Parameters to consider while buying Diamond Jewellery 4.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 4.1Diamond Cut Don't confuse the diamond's "cut" with the diamond's "shape.1. which is that brightness that seems to come from the very heart of a diamond. Rizvi Institute of Management Studies & Research Page 50 .1.1. (such as round. When a diamond jeweler (or a diamond certificate) says "cut. which leads to brilliance. fiery effect that makes diamonds so mesmerizing. emerald. not the shape." "Shape” refers to the general outward appearance of the diamond. and it's this flashing. so it is important to understand how this quality affects the properties and values of a diamond." that's a reference to the diamond's reflective qualities. or pear). light enters through the table and travels to the pavilion where it reflects from one side to the other before reflecting back out of the diamond through the table and to the observer's eye. Diamond cut is perhaps the most important of the four Cs. The quality of the "cut" does make a difference in how a diamond looks. when a diamond is well-cut. This light is the brilliance we mentioned. As shown in the images below. A good cut gives a diamond its brilliance.

most importantly how the depth compares to the diameter. Less light reflected back to the eye means less brilliance. spend some time looking at certified diamonds (where you know the Cut Grade) and train your eyes to identify the better cuts (by their "sparkle"). In general. and how the diameter of the table compares to the diameter of the diamond. If you opt to buy a diamond without an AGS certificate.1.1. Cut does make a difference to the outward appearance of a diamond.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Figure 4. These formulae can be seen in a diamond's proportions. the light that enters through the table reaches the facets and then 'leaks' out from the sides or bottom of the diamond rather than reflecting back to the eye.2 Good Proportions are Key Most gemmologists agree that the best cut diamonds are those that follow a set of formulae calculated to maximize brilliance. However. several grading methods have been developed to help consumers determine the cut of a particular diamond. these grades are:  Ideal  Premium  Very Good  Good  Fair & Poor Rizvi Institute of Management Studies & Research Page 51 .1 – Different type of Cut in Diamond In a poorly cut diamond. Because cut is so important. 4. the variance in the proportions between an Ideal Cut and a Poor Cut can be difficult to discern by the casual observer.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Rizvi Institute of Management Studies & Research Page 52 .

The result is that these diamonds fall slightly outside of some customers' preferences in terms of. the cutters have chosen to stray slightly from the preferred diamond proportions in order to create a larger diamond. Like the Ideal Cut. Generally. though. many Premium Cut diamonds have cuts that are the equal of any Ideal Cut diamond. creating a good deal of brilliance.  Very Good These diamonds reflect most of the light that enters them.  Ideal This cut is intended to maximize brilliance. To make the best selection. in many cases many of the parameters of diamonds in this range will overlap with certain parameters of diamonds in the Ideal or Premium ranges.  Premium In the case of round diamonds. With these diamonds. table size or girdle width. They are intended to provide maximum brilliance and fire. you need to understand the various grades. these are also for the person who enjoys knowing that he has one of the finest things that money can buy. and the typically smaller table sizes of these diamonds have the added benefit of creating a great deal of dispersion or 'fire' as well. though they often can be purchased at slightly lower prices than AGS Ideal Cuts. Please note that the descriptions below are general guidelines. Rizvi Institute of Management Studies & Research Page 53 . Ideal quality diamonds are truly for the person who enjoys knowing that he has one of the finest things that money can buy. for example. This category applies only to round diamonds.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Which Grade of Cut should one buy? Selecting the grade of cut is really a matter of preference. the price of these diamonds in slightly below that of Premium cuts.

Typically these diamonds have been cut to maximize the carat weight over most other considerations. Their proportions fall outside of the preferred range because the cutter has chosen to create the largest possible diamond from the original rough crystal.  Fair & Poor A diamond graded as fair or poor reflects only a small proportion of the light that enters it. Rizvi Institute of Management Studies & Research Page 54 . rather than cutting extra weight off to create a smaller Premium quality diamond.Study of Consumer Buying Behaviour on Diamond Jewellery Industry  Good Diamonds that reflect much of the light that enters them. Diamonds in this range offer an excellent cost-savings to customers who want to stay in a budget without sacrificing quality or beauty.

2 Important Attribute of Consumer Buying Behaviour effecting Diamond Jewellery Industry The important attribute of consumer buying behaviour in diamond jewellery purchase are as follows  Location of purchase of Diamond jewellery                 Combination of Diamond jewellery with other metals/stones Carat Colour Cut Price Popularity of Brand Trust in the Brand Size Any occasions/festivals Certifications Celebrity Endorsement Promotion Wide variety of design Brand Name Exhibitions New collection Rizvi Institute of Management Studies & Research Page 55 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry 4.

000 crore. the domestic diamond market is pegged at Rs 12. At present.1 Need & Significance The Indian diamond market is growing at 20 per cent to touch Rs 1-lakhcrore in the next five years whereas gold will grow at 8-10 per cent yearon-year.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Chapter 5: Research Methodology 5. 5.2 Scope This research has helped in understanding the preference of Diamond with different combination of metal jewellery and buying patterns of women in the purchase of Diamond jewellery. (Reported on 28th March 2010) Since lot of brand are launched nowadays there is a stiff competition among the major players in the industry and to attract women to purchase Diamond jewellery many tactics are been adopted by companies so this research will help in understanding the buying parameters and the parameters which influences the purchase of the Diamond jewellery by women. Rizvi Institute of Management Studies & Research Page 56 .000 crore and the total jewellery market in the country is worth Rs 70. This research has also help letting us understand which internal parameter of Diamond jewellery is most important for the women and which promotion activity has most effect in the purchase of Diamond jewellery.

The research has a structured questionnaire where respondents would be interviewed. Colour.  To understand what attracts consumer towards Diamond Jewellery (Celebrity Endorsement. 5. The area for the survey is restricted to the City of Mumbai. Size)  To understand whether Certification plays a vital role in the purchase of Diamond jewellery. Promotion.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 5.3 Methodology The methodology used was “Descriptive Research”.)  To identify whether price factor plays an important role in the purchase of Diamond jewellery Rizvi Institute of Management Studies & Research Page 57 . Range of Design etc. It comprises of women in the age group of 32 to 55 years and belong to SEC A category and having purchasing power to buy diamond jewellery. Clarity.  To identify which parameters play an vital role in the selection of Diamond Jewellery(Cut. Carat. The sample size was 100.4 Research Objectives  To identify the segment (Diamond with gold/platinum/silver) under which diamond jewellery is mostly preferred.

Ho: There is no significance difference among the women in the parameters such as Celebrity endorsement.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 5. Trust in the Brand and Size for the purchase of Diamond jewellery. Wide Variety of designs. Diamond with Platinum and Diamond with Silver. Colour. Diamond with Platinum and Diamond with Silver. Popularity of the Brand. Cut. Clarity. Exhibition and New Collection which attract them for the purchase of Diamond jewellery. Promotion. Popularity of the Brand. Cut. Diamond with Gold. Price. Ha: There is a significance difference among the women in the parameters such as Celebrity endorsement. Wide Variety of designs. Promotion. Colour.5 Hypothesis Ho: There is no significance difference among the women for the preference in the Diamond jewellery in different segment like Diamond with Coloured stone. Ha: There is a significance difference among the women for the preference in the Diamond jewellery in different segment like Diamond with Coloured stone. Trust in the Brand and Size for the purchase of Diamond jewellery. Exhibition and New Collection which attract them for the purchase of Diamond jewellery. Diamond with Gold. Brand Name. Ho: Buying a Diamond Jewellery is not a thoughtful process Ha: Buying a Diamond Jewellery is a thoughtful process Ho: Certification does not play an important role in purchase of Diamond jewellery Rizvi Institute of Management Studies & Research Page 58 . Clarity. Brand Name. Price. Ha: There is a significance difference among the women in the preference of Carat. Ho: There is no significance difference among the women in the preference of Carat.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ha: Certification plays an important role in purchase of Diamond jewellery Rizvi Institute of Management Studies & Research Page 59 .

Rizvi Institute of Management Studies & Research Page 60 . a small sample size was surveyed.1 Accuracy of the project In this research.6 Limitation of the Study 5.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: Purchase of Diamond jewellery is not preferred from the family jeweller compared to that of Diamond Jewellery Ha: Purchase of Diamond jewellery is preferred from the family jeweller compared to that of Diamond Jewellery Ho: Fashion show of Diamond jewellery does not influences the purchase of Diamond jewellery Ha: Fashion show of Diamond jewellery influence the purchase of Diamond jewellery Ho: Diamond jewellery is not considered as status symbol for most of the women Ha: Diamond jewellery is considered as status symbol for most of the women Ho: Purchase of Diamond jewellery is not influenced by Celebrity endorsement Ha: Purchase of Diamond jewellery is influenced by Celebrity endorsement Ho: Gold jewellery does not have more variety in designs compared to that of Diamond jewellery Ha: Gold Jewellery has more variety in designs compared to that of Diamond jewellery 5.6. Hence the conclusion may not hold good for a large number of people.

thus the geographical limitations can be assumed to be a hurdle in the authenticity of the research.2 Place of Research The research was conducted only in certain selected places like from Borivali to Bandra.6. Rizvi Institute of Management Studies & Research Page 61 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry 5.

Secondary Data: Internet.Study of Consumer Buying Behaviour on Diamond Jewellery Industry 5.1 Technique sampling technique. Books. females having purchasing power of buying Diamond jewellery or have purchased Diamond jewellery or willing to purchase in 6 months time.8.2 Sample Size . Convenience .8.7 Sources of Data Collection Primary data : Structured Questionnaire (Refer Annexure) research conducted. 3. Rizvi Institute of Management Studies & Research Page 62 . Residing in Mumbai.8 Sampling Procedure 5. 5.Snowball sampling technique.100 1. Previous related study or 5. Female groups between 30 to 55 yrs of age. 2. SEC A. Magazine.

Rizvi Institute of Management Studies & Research Page 63 . Do you own Diamond jewellery? Figure 6.1.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Chapter6: Data Interpretation & Analysis Q1.Ownership of Diamond Jewellery Out of the 100 women respondent 67% of women own Diamond jewellery and 33% of women did not owned the Diamond jewellery.

Rizvi Institute of Management Studies & Research Page 64 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry If ‘No’ are you planning to buy Diamond jewellery in 6 months time? Figure 6.2 – Buying Diamond jewellery in 6 months time In 33% of the women respondent who did not owned the Diamond jewellery. 67% of women are planning to buy Diamond jewellery in 6 months time and 33% of women are not planning to buy in 6 months time but these women have the purchasing power of buying Diamond jewellery.

9% of women prefer to buy Blue Sapphire and 9% of women prefer to buy Emerald. 27% of women prefer to buy Pearl. 18% of women prefer to buy Topaz.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q2.3 – Preference of other stone on Diamond Jewellery Among the 33% of women respondent who has the purchasing power of purchasing Diamond jewellery but do not own it and they are not planning to buy Diamond jewellery in 6 months time 37% of these women prefer to buy Ruby. Which other stone you would prefer to buy other than Diamond jewellery? Figure 6. Rizvi Institute of Management Studies & Research Page 65 .

Rizvi Institute of Management Studies & Research Page 66 . Pendant and Ring.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q3. Pendant. Necklace and Bracelet.4 – Preference on type of Diamond Jewellery Among Diamond jewellery such as Bracelet. Ring is the most preferred jewellery among the 100 women respondent followed by Earring. Necklace. What kind of Diamond jewellery would you prefer wearing? (Multiple Choice) Figure 6. Earring.

Pendant.5 – Most important Diamond jewellery type of Diamond Jewellery Among Diamond jewellery such as Ring. Ring is the most preferred among the 100 women respondent followed by Earring. Pendant. Earring.Study of Consumer Buying Behaviour on Diamond Jewellery Industry From the above selection which one is the most important for you? Figure 6. Necklace and Bracelet. Necklace and Bracelet Rizvi Institute of Management Studies & Research Page 67 .

6 Target price for buying Diamond Jewellery Among the 100 women respondent 40% of women target price for purchasing Diamond jewellery is between Rs.30. What is your target price range for buying Diamond jewellery? Figure– 6.30.000 and 13% of women respondent target price for purchasing Diamond jewellery is below Rs.50.000.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q4. Rizvi Institute of Management Studies & Research Page 68 .000.15.000 and 33% of women respondents target price for purchasing Diamond jewellery is between Rs. 14% of women respondent target price for purchasing Diamond jewellery is above Rs.15.001 – Rs.000 – Rs.50.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q5. Rizvi Institute of Management Studies & Research Page 69 . Where would you prefer buying your Diamond jewellery from? Figure 6. 37% of women prefer to buy Diamond jewellery from the big jewellery store.7 – Store preferred for buying Diamond jewellery Among the 100 women respondent 49% of women prefer to buy Diamond jewellery from the family jeweller. 14% of women prefer to buy Diamond jewellery from shopping mall and 0% of women prefer buying Diamond jewellery from e-shopping.

74 . Rate the following parameters under which segment Diamond jewellery is mostly preferred by you? (Where 1 = Least important and 7 = Most important) 1 Diamond with Colored stone Diamond with Gold Diamond with Platinum Diamond with Silver 2 3 4 5 6 7 Statistics Diamond_C oloured_St Diamond_ Diamond_P Diamond_S N Valid Missing one 100 0 3.86 .193 4.63 .00 7 1.231 .241 1 7 Mean Std.196 5.241 1 7 latinum 100 0 5.241 1 7 ilver 100 0 4.241 1 7 Gold 100 0 4.00 7 1.00 4 1.787 3.00 7 1.179 5. Error of Mean Median Mode Std.961 3.406 .846 -.175 -.1 – Statistic for Diamond with Different Combination Rizvi Institute of Management Studies & Research Page 70 . Error of Skewness Minimum Maximum Table 6.475 2. Deviation Variance Skewness Std.192 -.65 .954 .709 .926 3.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q6.147 6.490 .

Diamond with Silver and Diamond with Coloured Stone.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Since the mean. The Diamond with Coloured stone is the least preferred combination. median and mode of the Diamond with Platinum are highest it is the most preferred combination followed by Diamond with Gold. Rizvi Institute of Management Studies & Research Page 71 .

Rizvi Institute of Management Studies & Research Page 72 .433 F 18. Ha: There is a significance difference among the women for the preference in the Diamond jewellery in different segment like Diamond with Coloured stone. at 95% significance level we reject the Ho.2 – Anova for Different Combination of Diamond jewellery Since the p-value is less than 0.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: There is no significance difference among the women for the preference in the Diamond jewellery in different segment like Diamond with Coloured stone. df MS 3 60.706 P-value 2. Diamond with Platinum and Diamond with Silver. Diamond with Gold.74 4. Diamond with Platinum and Diamond with Silver.846 ANOVA Source of Variation Between Groups Within Groups SS 181.63 4.86 5.65 Varian ce 3.1923 2.3 1279.29E11 F crit 2.1748 3.05.7095 3. 3 1460. Anova: Single Factor SUMMARY Avera Groups Diamond with Coloured Stone Diamond with Gold Diamond with Platinum Diamond with Silver Count 100 100 100 100 Sum 374 486 563 465 ge 3.62744 1 396 3. Diamond with Gold.2307 Total 6 399 Table 6.

Rate the following parameters between 1 to 7.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Hence. to whom you give prime importance in purchase of Diamond jewellery? (Where 1 = Least important and 7 = Most important) 1 Carat Clarity Colour Cut Price Popularity 2 3 4 5 6 7 of the Brand Trust in the Brand Size Rizvi Institute of Management Studies & Research Page 73 . Q7. there is a significant difference among the women for the preference in the Diamond jewellery in different segment like Diamond with Coloured stone. Diamond with Platinum and Diamond with Silver. Diamond with Gold.

00 7 1.48 .03 2.471 -1.02 Statistics Pric Popularity_of_Br Trust_in_Bra and 100 0 4.44 .63 2. Rizvi Institute of Management Studies & Research Page 74 .139 6.241 1 7 Table 6. Price.02 -.30 1.00 6.77 7 r Cut e 100 100 100 0 0 0 4. Colour and the least preferred parameter is Popularity of the Brand.92 9 -.148 5.240 nd 100 0 5. Trust in Brand.736 Size 100 0 5.131 .241 .68 3 1.241 . Error of Skewness Minimum Maximum .80 1. Size.128 .18 Skewness 5 9 Std.165 6.00 Mode 7 7 Std.00 7 1. Error . median and mode is highest for the Clarity it is the most important parameter among the women for the purchase of the Diamond jewellery followed by Cut.03 Std.180 5.333 1.00 1.72 5.00 6.38 9 1.00 7 7 7 1.92 5.167 .654 2.85 .800 3. 1.47 Deviation 9 0 4 0 9 Variance 1.241 .102 of Mean Median 6.67 1.05 -.241 1 7 3 7 1 7 2 7 1 7 9 3 2 8 1 8 -.00 6.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Cara Clarit Colou t y N Valid 100 100 Missing 0 0 Mean 5.00 7 1.71 1.241 1 7 .28 1.241 .241 1 7 .322 .3 – Statistic for the preference of Characteristic of Diamond jewellery Since the mean. Carat.54 .68 6.

Cut.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: There is no significance difference among the women in the preference of Carat. 4 1822. Clarity. Popularity of the Brand.9289 ANOVA Source of Variation Between Groups Within Groups SS 111.54 5.021 1 792 2. Trust in the Brand and Size for the purchase of Diamond jewellery. Colour.72 5. Anova: Single Factor SUMMARY Avera Groups Carat Clarity Colour Cut Price Popularity of the Brand Trust in the Brand Size Count 100 100 100 100 100 100 100 100 Sum 568 603 492 572 544 485 554 548 ge 5.03 4. Trust in the Brand and Size for the purchase of Diamond jewellery.48 Varian ce 1. df MS 7 15. Popularity of the Brand.7147 1. Clarity.1608 Total 6 799 Table 6.92 5.7358 1.882 F 7. Price. Ha: There is a significance difference among the women in the preference of Carat.35 P-value 1.44 4.2399 2.68 6. Colour.638 2.44E08 F crit 2.1 8 1711.85 5.0395 2. Price.8016 1.4 – Anova for the preference of Characteristic of Diamond jewellery Rizvi Institute of Management Studies & Research Page 75 .1883 3. Cut.

at 95% significance level we reject the Ho. Colour. Popularity of the Brand.05. Hence. there is a significance difference among the women in the preference of Carat. Clarity. Rizvi Institute of Management Studies & Research Page 76 . Cut. Price. Trust in the Brand and Size for the purchase of Diamond jewellery.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Since the p-value is less than 0.

What sort of design do you prefer in diamond jewellery in the following situation? Trendy Anniversary Birthday Engagement Festivals Valentine’s Day Wedding Tradition al Evergree n Doesn’t Matter Figure 6. out of 100 women respondent 34% of women preferred evergreen design.8 – Designs preferred for different occasion On the occasion of Anniversary.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q8. 29% of women preferred trendy Rizvi Institute of Management Studies & Research Page 77 .

Rizvi Institute of Management Studies & Research Page 78 . out of 100 women respondent 44% of women preferred traditional design. for 16% of women choosing a design for the occasion of birthday doesn’t matter and 13% of women preferred traditional design. On the occasion of Wedding. 21% of women preferred traditional design and for 16% of women choosing a type of design for the occasion of anniversary doesn’t matter. out of 100 women respondent 50% of women preferred trendy design. for 18% of women choosing a design for the occasion of valentine’s day doesn’t matter and 2% of women preferred traditional design. 28% of women preferred evergreen design. out of 100 women respondent 40% of women preferred traditional design. On the occasion of Festivals. On the occasion of Birthday. out of 100 women respondent 53% of women preferred trendy design. 22% of women preferred evergreen design. 14% of women preferred trendy design and for 11% of women choosing a type of design for the occasion of engagement doesn’t matter. On the occasion of Engagement.Study of Consumer Buying Behaviour on Diamond Jewellery Industry design. for 20% of women choosing a design for the occasion of festival doesn’t matter and 16% of women preferred trendy design. On the occasion of Valentine’s Day. out of 100 women respondent 42% of women preferred traditional design. 27% of women preferred evergreen design. 31% of women preferred evergreen design. 17% of women preferred trendy design and for 15% of women choosing a type of design for the occasion of engagement doesn’t matter. 21% of women preferred evergreen design.

12% of women prefer buying Diamond jewellery which is just certified and 9% of women prefer buying Diamond jewellery from family jeweller without certification. 41% of women prefer buying branded Diamond jewellery with certification. 38% of women prefer buying Diamond jewellery from family jeweller with certification.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q9. Rizvi Institute of Management Studies & Research Page 79 .9 Preference for Certification of Diamond jewellery Out of the 100 women respondent. What kind of Diamond jewellery do you prefer? Figure 6.

10 Ready to spend more money for Certification Among the 100 women respondent.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q10. Rizvi Institute of Management Studies & Research Page 80 . 81% of women are ready to spend more money to get certified Diamond jewellery and 19% of women are not ready to spend more money to get certified Diamond jewellery. Would you be ready to spend more money to get Certified Diamond jewellery? Figure 6.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry If ‘Yes’ how much percentage of money.11 – Percentage of Money women like to play more for certification Out of the 81% of women respondent who would like to spend more money to get certified Diamond jewellery. 26% of women are ready to pay 4 percent more compared to that of uncertified Diamond jewellery. extra will you pay compared with uncertified jewellery? Figure 6. 22% of women are ready to pay 8 percent more compared to that of uncertified Diamond jewellery. 12% of women are ready to pay 10 percent more compared to that of uncertified Diamond jewellery and 11% of women are ready to pay 2 percent more compared to that of uncertified Diamond jewellery. Rizvi Institute of Management Studies & Research Page 81 . 29% of women are ready to pay 6 percent more compared to that of uncertified Diamond jewellery.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q11. Rate the following parameters which attract you towards diamond jewellery purchase? (Where 1 = Least important and 7 = Most important) 1 Celebrity endorsement Promotion Wide variety of designs to choose from Brand Name Exhibitions New collections 2 3 4 5 6 7 Rizvi Institute of Management Studies & Research Page 82 .

568 nge 100 0 5.92 .167 4.524 2. Deviati on Varianc e Skewn ess Std.00 1 1.778 .249 .091 -1. Error of Skewn ess Minimu m Maxim um ement 100 0 3.730 on 100 0 4.00 4 1.00 6 1.241 .5 – Statistic for the parameter which attract for purchase of Diamond jewellery Rizvi Institute of Management Studies & Research Page 83 .157 4.51 .66 .241 .241 .994 -.637 2.173 5.45 .00 7 1.091 2.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Statistics Celebrity_Endors Promoti Wide_Ra Brand_Na Exhibiti New_Collec N Valid Missi ng Mean Std.866 -.458 -.241 .401 2.667 tion 100 0 5. Error of Mean Median Mode Std.06 .00 3 1.180 3.241 .241 1 7 1 7 2 7 1 7 1 7 1 7 Table 6.00 4a 1.122 1.137 6.197 .01 .446 3.145 6.802 on 100 0 3.366 me 100 0 4.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Since the mean. Rizvi Institute of Management Studies & Research Page 84 . Promotion and the least preferred parameter is Celebrity Endorsement. Exhibition. median and mode is highest for the New Collection it is the most important parameter which attract women for the purchase of the Diamond jewellery followed by Wide Range. Brand Name.

Brand Name. Wide Variety of designs. Exhibition and New Collection which attract them for the purchase of Diamond jewellery. Promotion. Anova: Single Factor SUMMARY Avera Groups Celebrity endorsement Promotion Wide Variety of Designs Brand Name Exhibition New Collection Count 100 100 100 100 100 100 Sum 306 392 545 466 401 551 ge 3. Promotion.01 5. Total 5 599 df MS 5 91.55 value 7E-32 F crit 2.45 4.92 5. Wide Variety of designs.4582 1.51 Varian ce 3.459 594 2.9943 2.7777 2. 2 1985.06 3.0908 ANOVA PSource of Variation Between Groups Within Groups SS 457. Brand Name.229 2 Rizvi Institute of Management Studies & Research Page 85 .2 9 1528.2489 2.66 4.8662 2.5727 F 35. Exhibition and New Collection which attract them for the purchase of Diamond jewellery.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: There is no significance difference among the women in the parameters such as Celebrity endorsement. Ha: There is a significance difference among the women in the parameters such as Celebrity endorsement.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Table 6.6 – Anova for the parameter which attract for purchase of Diamond jewellery Rizvi Institute of Management Studies & Research Page 86 .

at 95% significance level we reject the Ho.05. Brand Name.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Since the p-value is less than 0. Wide Variety of designs. Exhibition and New Collection which attract them for the purchase of Diamond jewellery. Hence there is a significance difference among the women in the parameters such as Celebrity endorsement. Rizvi Institute of Management Studies & Research Page 87 . Promotion.

Rate the following statements with the following options given below: Strongl y Disagr ee Buying an Diamond jewellery is a thoughtful process Certification plays an important role in purchase of Diamond jewellery Purchase of Diamond jewellery is mostly preferred from the family jeweler compared to that of branded jewellery store Fashion show of Diamond jewellery influences the purchase of Diamond jewellery Diamond jewellery is considered as status symbol for most of the women Purchase of Diamond jewellery by women is influenced by Celebrity endorsement Gold jewellery has more variety in designs compared to that of Diamond jewellery Disagr ee Neutr al Agre e Strongl y Agree Rizvi Institute of Management Studies & Research Page 88 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q12.

120 3.50 4 1.108 3.753 .00 5 .098 4.198 1.435 1 5 ow 100 2. Error of Mean Median Mode Std.075 4.00 4 1.00 4 .258 1.583 1 5 Table 6.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Statistics Imp_o Family_Jewe Influenc Influence_ Design_ Though f_Certi ler_over_Bra e_of_Fas Status of_Celebrit Gold_ov tful_Pro ficatio nded_Jewell hion_Sh _Sym y_Endorse er_Diam N Valid Mean Std.05 .171 1 5 bol 100 4. Deviatio n Variance Minimu m Maximu m cess 100 4.33 .957 1 5 ery 100 3.592 2 5 ment 100 2.00 3 1.00 2 1.18 .769 .7 – Statistic for Different Statements Rizvi Institute of Management Studies & Research Page 89 .126 3.98 .298 1 5 ond 100 3.00 4 .077 4.93 .29 .978 .139 1.114 3.567 2 5 n 100 4.17 .082 1.

Hence.05.0 25.0 25. Rizvi Institute of Management Studies & Research Page 90 .0 22.9 – Test Statistics for Thoughtful Process Since the p-value is less than 0. .000 Table 6.0 Table 6.8 – Observed and Expected value for Thoughtful Process Test Statistics Thoughtful_Process Chi-Square 49. at 95% significance level we reject the Ho.0 -10.0 Residual -23.360a Df 3 Asymp. Sig.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: Buying a Diamond Jewellery is not a thoughtful process Ha: Buying a Diamond Jewellery is a thoughtful process Thoughtful_Process Observed Expected Disagree Neutral Agree Strongly Agree Total N 2 15 47 36 100 N 25.0 11. Buying a Diamond jewellery is a thoughtful process.0 25.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: Certification does not play an important role in purchase of Diamond jewellery Ha: Certification plays an important role in purchase of Diamond jewellery Imp_of_Certification Observed Expected N Strongly Disagree Disagree Neutral Agree Strongly Agree Total 1 10 9 43 37 100 N 20.0 20.0 -10. at 95% significance level we reject the Ho.0 Residual -19.0 20. Sig.0 17.05.0 20.11 – Test Statistics for Importance of Certification Since the p-value is less than 0. 70. Rizvi Institute of Management Studies & Research Page 91 .0 20.0 Table 6.10 – Observed and Expected value for Importance of Certification Test Statistics Imp_of_Certificatio n ChiSquare Df Asymp.000a 4 .000 Table 6.0 -11.0 23.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Hence. Certification plays an important role in purchase of Diamond jewellery. Rizvi Institute of Management Studies & Research Page 92 .

0 Table 6. at 95% significance level we reject the Ho.05.0 1. 16. Sig. Rizvi Institute of Management Studies & Research Page 93 .0 20.0 20.0 -2.0 20.0 Residual -13.0 20.003 Table 6.100a 4 .13 – Test Statistics for preference of Family jeweller over Branded jewellery store Since the p-value is less than 0.12 – Observed and Expected value for preference of Family jeweller over Branded jewellery store Test Statistics Family_Jeweller_over_Branded_Jew ellery ChiSquare Df Asymp.0 2.0 12.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: Purchase of Diamond jewellery is not preferred from the family jeweller compared to that of Branded Diamond Jewellery Ha: Purchase of Diamond jewellery is preferred from the family jeweller compared to that of Branded Diamond Jewellery Family_Jeweller_over_Branded_Jewellery Expected Observed N Strongly Disagree Disagree Neutral Agree Strongly Agree Total 7 21 22 32 18 100 N 20.

Rizvi Institute of Management Studies & Research Page 94 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry Hence. Purchase of Diamond jewellery is preferred from the family jeweller compared to that of Diamond Jewellery.

29.0 Table 6.700a 4 . at 95% significance level we reject the Ho.000 Table 6.0 -1.0 20.05.0 20.0 18.0 20.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: Fashion show of Diamond jewellery does not influences the purchase of Diamond jewellery Ha: Fashion show of Diamond jewellery influence the purchase of Diamond jewellery Influence_of_Fashion_Show Observed Expected N Strongly Disagree Disagree Neutral Agree Strongly Agree Total 8 25 38 19 10 100 N 20.0 -10.15 – Test Statistics for Influence of Fashion show Since the p-value is less than 0. Rizvi Institute of Management Studies & Research Page 95 .0 Residual -12.0 20. Sig.14 – Observed and Expected value Influence of Fashion show Test Statistics Influence_of_Fashion_Sh ow ChiSquare Df Asymp.0 5.

Fashion show of Diamond jewellery influences the purchase of Diamond jewellery. 55.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Hence.0 17. Rizvi Institute of Management Studies & Research Page 96 .05. Sig.0 25.16 – Observed and Expected value for Status Symbol Test Statistics Status_Symbol ChiSquare Df Asymp.000 Table 6.0 25.0 Residual -22.17 – Test Statistic for Status Symbol Since the p-value is less than 0.0 20.0 Table 6.920a 3 .0 25.0 -15. Ho: Diamond jewellery is not considered as status symbol for most of the women Ha: Diamond jewellery is considered as status symbol for most of the women Status_Symbol Observed Expected Disagree Neutral Agree Strongly Agree Total N 3 10 42 45 100 N 25. at 95% significance level we reject the Ho.

Rizvi Institute of Management Studies & Research Page 97 . Diamond jewellery is considered as status symbol for most of the women.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Hence.

18 – Observed and Expected value for Celebrity Endorsement Test Statistics Influence_of_Celebrity_Endorsem ent ChiSquare df Asymp.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: Purchase of Diamond jewellery is not influenced by Celebrity endorsement Ha: Purchase of Diamond jewellery is influenced by Celebrity endorsement Influence_of_Celebrity_Endorsement Observed Expected N Strongly Disagree Disagree Neutral Agree Strongly Agree Total 9 31 28 22 10 100 N 20. 20.0 11.0 Table 6. Rizvi Institute of Management Studies & Research Page 98 .0 2.500a 4 .000 Table 6.19 – Test Statistics for Celebrity Endorsement Since the p-value is less than 0.0 20.0 20.0 20.0 Residual -11.0 -10.05.0 20. at 95% significance level we reject the Ho. Sig.0 8.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry Hence. Purchase of Diamond jewellery is influenced by Celebrity endorsement but it its mean. median and mode is the lowest among all the other parameter thus celebrity endorsement is of least important. Rizvi Institute of Management Studies & Research Page 99 .

0 -3.05.0 20.20 – Observed and Expected value for Gold jewellery having more design over Diamond jewellery Test Statistics Design_Gold_over_Diam ond ChiSquare Df Asymp.0 7. Sig.0 20.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Ho: Gold jewellery does not have more variety in designs compared to that of Diamond jewellery Ha: Gold Jewellery has more variety in designs compared to that of Diamond jewellery Design_Gold_over_Diamond Observed Expected N Strongly Disagree Disagree Neutral Agree Strongly Agree Total 11 21 24 27 17 100 N 20. at 95% significance level we accept the Ho.0 20.800a 4 .0 Residual -9. Rizvi Institute of Management Studies & Research Page 100 .0 Table 6.0 4.0 20. 7.0 1.21 – Test Statistics for Gold jewellery having more design over Diamond jewellery Since the p-value is greater than 0.099 Table 6.

 Among Diamond jewellery such as Bracelet. Hence the market growth potential for Diamond jewellery market is very high.50. Rizvi Institute of Management Studies & Research Page 101 . Topaz.000. Pendant.  The women respondents who has the purchasing power of purchasing Diamond jewellery but do not own it and they are not planning to buy Diamond jewellery in 6 months time these women prefer to buy Ruby. Gold jewellery does not have more variety in designs compared to that of Diamond jewellery 6.15. Earring.1 Summary  Most of the women respondent owned diamond jewellery and among those who did not owned there are the higher percentage of women who are willing to buy Diamond jewellery in 6 months time.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Hence. Necklace. Blue Sapphire and Emerald.000 to Rs. There are a small percentage of women who prefer to buy Diamond jewellery from shopping mall and no women prefer buying Diamond jewellery from e-shopping.  Women prefer to buy Diamond jewellery from the family jeweller but the number of women purchasing Diamond jewellery from big jewellery Store is also quite high. Necklace and least preferred is Bracelet. Pearl. Ring is the most preferred jewellery followed by Earring. Pendant and Ring.  Most of the women target price for purchasing Diamond jewellery is Rs.

Rizvi Institute of Management Studies & Research Page 102 . Diamond with Silver and the Diamond with Coloured Stone is the least preferred combination.Study of Consumer Buying Behaviour on Diamond Jewellery Industry  In the different Diamond jewellery combinations Diamond with Platinum is the most preferred combination by women followed by Diamond with Gold.

on the occasion of Engagement traditional design is most preferred by women.  Among women most of the women prefer buying Diamond jewellery with certification and were few women prefer to buy Diamond jewellery without certification. on the occasion of Festivals traditional design is most preferred by women. Rizvi Institute of Management Studies & Research Page 103 . Carat.Study of Consumer Buying Behaviour on Diamond Jewellery Industry  In the purchase of Diamond jewellery importance given by women to Clarity is the highest followed by Cut. on the occasion of Birthday trendy design is most preferred by women. Brand Name. on the occasion of Valentine’s Day trendy design is most preferred by women and on the occasion of Wedding traditional design is most preferred by women.  Among the women respondent the thing which attract the most towards the purchase of Diamond jewellery is the New Collection followed by Wide Range of design. Trust in Brand.  On the occasion of Anniversary evergreen design is most preferred by women. Exhibition. Size. Colour and the least preferred parameter is Popularity of the Brand. Price. Promotion and the least preferred parameter is Celebrity Endorsement.  Most of the women are ready to spend more to buy the Diamond jewellery with certification and they are easily ready to spend 4 to 8 percent more on the Diamond jewellery compared to that of uncertified Diamond jewellery.

 Family jeweller is preferred the most for buying the Diamond jewellery but big jewellery store is catching up so the companies should focus on providing more number of branded outlets and should not concentrate on trying to improve sales from shopping malls.  There should more variety and range in Ring diamond jewellery as this is the most preferred by women as it has an emotional attachment for women. Certification of diamond jewellery is important to them. Diamond jewellery is considered as status symbol for most of the women. the influence of celebrity endorsement on the purchase of Diamond jewellery is least. Diamond jewellery has the equal variety of design compared to that of Gold jewellery and the influence of fashion show of Diamond jewellery on the purchase of Diamond jewellery is very less. Rizvi Institute of Management Studies & Research Page 104 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry  For all the women respondent agreed that buying an diamond jewellery is an thoughtful process. family jeweller has more preference than big jeweller store in purchase of Diamond jewellery. Chapter7: Recommendations  Diamond jewellery industry is expected to grow at a higher rate as there quite higher number women who would prefer buying Diamond jewellery and Diamond jewellery is considered as the status symbol among the women.

 Clarity is most considered parameter in purchase of Diamond jewellery and women are ready to spend more for acquiring it.  There should be more traditional design in Diamond jewellery during the wedding season i. so this parameter should be given more importance. Rizvi Institute of Management Studies & Research Page 105 .  Certified Diamond jewellery should be charged around 6 to 8 percent more than the uncertified diamond jewellery as women prefer Diamond jewellery with certification and they are easily ready to spend more on it.e during summers and winter holidays.Study of Consumer Buying Behaviour on Diamond Jewellery Industry  There should be more designs and variety in Diamond jewellery combination with platinum.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry  Launch of new collection attracts women to purchase Diamond jewellery and celebrity endorsement doesn’t attract women or least attracts women to purchase Diamond jewellery. Rizvi Institute of Management Studies & Research Page 106 . Hence the companies should not do celebrity endorsement.  There is a myth that gold jewellery has more variety compared to that of Diamond jewellery and women feel there is a equal variety of design in Diamond jewellery compared to that of Diamond jewellery.

Which other stone you would prefer to buy other than Diamond? __________________________________________________________ Q3. No No Q2. What kind of Diamond jewellery would you prefer wearing? (Multiple Choice) Bracelet Earring Necklace Pendant Ring Rizvi Institute of Management Studies & Research Page 107 . If ‘No’ are you planning to buy Diamond jewellery in 6 months time? Yes If ‘Yes’ go to Q3. Do you own Diamond jewellery? Yes If ‘Yes’ go to Q3.Study of Consumer Buying Behaviour on Diamond Jewellery Industry  Annexure Questionnaire Q1.

Study of Consumer Buying Behaviour on Diamond Jewellery Industry From the above selection which one is the most important for you? (Any One Only) ____________________________________________________ Rizvi Institute of Management Studies & Research Page 108 .

Study of Consumer Buying Behaviour on Diamond Jewellery Industry

Why do you prefer this over others mentioned above? __________________________________________________________________

Q4. What is your target price range for buying Diamond jewellery? Below Rs.15000 Rs. 15000 - Rs. 30,000 Rs. 30,001 - Rs. 50,000 Above Rs. 50,000

Q5. Where would you prefer buying your Diamond jewellery from? E-Shopping Family jeweler Shopping malls Big jewellery stores Other (please specify) __________________________________________

Q6. Rate the following parameters under which segment Diamond jewellery is mostly preferred by you? (Where 1 = Least important and 7 = Most important) 1 Diamond Diamond Diamond Diamond with with with with Colored stone Gold Platinum Silver 2 3 4 5 6 7

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Study of Consumer Buying Behaviour on Diamond Jewellery Industry

Q7. Rate the following parameters between 1 to 7, to whom you give prime importance in purchase of Diamond jewellery? (Where 1 = Least important and 7 = Most important) 1 Carat Clarity Color Cut Price Popularity of the Brand Trust in the Brand Size 2 3 4 5 6 7

Q8. What sort of design do you prefer in diamond jewellery in the following situation? Trendy Anniversary Birthday Engagement Festivals Valentine’s Day Wedding Others (please specify below) Tradition al Evergree n Doesn’t Matter

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Study of Consumer Buying Behaviour on Diamond Jewellery Industry

Q9. What kind of Diamond jewellery do you prefer? Any Certified jewellery Branded jewellery with certification Jewellery from family jeweler without certification Jewellery from family jeweler with certification Others (please specify) ______________________________________________

Q10. Would you be ready to spend more money to get Certified Diamond jewellery? Yes No

If ‘Yes’ how much percentage of money, extra will you pay compared with uncertified jewellery? 2% 4% 6% 8% 10%

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Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q11. Rate the following parameters which attract you towards diamond jewellery purchase? (Where 1 = Least important and 7 = Most important) 1 Celebrity endorsement Promotion Wide variety of designs to choose from Brand Name Exhibitions New collections Others(please specify below) 2 3 4 5 6 7 Rizvi Institute of Management Studies & Research Page 112 .

Rate the following statements with the following options given below Strongl y Disagr ee Buying an Diamond jewellery is a thoughtful process Certification plays an important role in purchase of Diamond jewellery Purchase of Diamond jewellery is mostly preferred from the family jeweler compared to that of branded jewellery store Fashion jewellery show of Diamond the Disagr ee Neutr al Agre e Strongl y Agree influences purchase of Diamond jewellery Diamond jewellery is considered as status symbol for most of the women Purchase of Diamond jewellery by women is influenced by Celebrity endorsement Gold jewellery has more variety in designs compared to that of Rizvi Institute of Management Studies & Research Page 113 .Study of Consumer Buying Behaviour on Diamond Jewellery Industry Q12.

12 6.4 6.9 6.2 6.3 6. 6.11 6.14 6.20 6.1 6. 56 58 60 61 69 71 74 75 75 76 76 77 77 78 78 79 79 80 80 81 81 of Certification Test Statistics for Importance of Certification Observed and Expected value for preference of Family jeweller over Branded jewellery store Test Statistics for preference of Family jeweller over Branded jewellery store Observed and Expected value Influence of Fashion show Test Statistics for Influence of Fashion show Observed and Expected value for Status Symbol Test Statistic for Status Symbol Observed and Expected value for Celebrity Endorsement Test Statistics for Celebrity Endorsement Observed and Expected value for Gold jewellery having more design over Diamond jewellery Test Statistics for Gold jewellery having more design over Diamond jewellery Rizvi Institute of Management Studies & Research Page 114 . No.13 6.7 6.18 6.21 Name Statistic for Diamond with Different Combination Anova for Different Combination of Diamond jewellery Statistic for the preference of Characteristic of Diamond jewellery Anova for the preference of Characteristic of Diamond jewellery Statistic for the parameter which attract for purchase of Diamond jewellery Anova for the parameter which attract for purchase of Diamond jewellery Statistic for Different Statements Observed and Expected value for Thoughtful Process Test Statistics for Thoughtful Process Observed and Expected value for Importance Page No.8 6.16 6.17 6.15 6.6 6.10 6.19 6.5 6.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Diamond jewellery List of Tables Sr.

5 2.1 6.1 6. No.9 6.7 2.2 6.11 Name Indian Gems & Jewellery Export in Dec-09 Grouping of Diamond mine according to the location Market Share of Major Players in Diamond Industry Different shapes of Diamond Different Angles of Cut Types of Grading for Colour in Diamonds Types of Carat for Diamond Types of Clarity in Diamond Diamond Anatomy Process of Consumer Buying Decision Different type of Cut in Diamond Ownership of Diamond Jewellery Buying Diamond jewellery in 6 months time Preference of other stone on Diamond Jewellery Preference on type of Diamond Jewellery Most important Diamond jewellery type of Diamond Jewellery Target price for buying Diamond Jewellery Store preferred for buying Diamond jewellery Designs preferred for different occasion Preference for Certification of Diamond jewellery Ready to spend more money for Certification Percentage of Money women like to play more for certification Page No.2 2.10 6.4 6.8 3.Study of Consumer Buying Behaviour on Diamond Jewellery Industry a) List of Figures Sr.6 2.1 4. 6 12 14 27 28 29 29 30 31 34 39 49 50 51 52 53 54 55 63 65 66 67 Rizvi Institute of Management Studies & Research Page 115 .5 6.3 2.6 6. 1.8 6.1 2.7 6.4 2.3 6.1 2.

com  www.com  www.com  www.gjepc.ibef.com  www.shrenuj.org  www.com  www.rosyblue.gitanjaligroup.moneycontrol.in Magazines  Diamond Digest  International Business Times  National Jeweller  The Art of Jewellery Making Books  Consumer Behaviour Basic Findings & Management Implications  Marketing Whitebook Rizvi Institute of Management Studies & Research Page 116 .tanishq.myadora.com  www.sheetalgroup.fine-jewellery.Study of Consumer Buying Behaviour on Diamond Jewellery Industry Bibliography Web Sites  ho.co.org  www.com  www.

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