Sample RM Project For Reference

Customer Satisfaction of Vispute Saraf Kopargaon 2020
CHAPTER NO. 1:
DESIGN OF THE STUDY
1.1 INTRODUCTION OF THE STUDY
1.2 OBJECTIVES
1.3 STATEMENT OF THE PROBLEM
1.4 SCOPE OF THE STUDY
1.5 METHODOLOGY OF DATA COLLECTION
1.6 LIMITATIONS OF THE STUDY
Research Methodology [BBA-IB] (606) Page 1

1.1 INTRODUCTION TO INDUSTRY
Who are the customers?

A customer is anyone who receives a product – either a good or a service – from an
organization. In most situations the customer will have to pay to obtain the product, but
this is not always the case.
Definition:
 Customer satisfaction is a marketing term that measures how products or
services supplied by a company meet or surpass a customer’s
expectation. Customer satisfaction is important because it provides marketers and
business owners with a metric that they can use to manage and improve their
businesses.
 Customer satisfaction means to satisfy the needs and wants of the customer by
providing all possible services to the customer
 It is seen as a key performance indicator within business and is often part of a
balance scorecard. In a competitive market place where business compete for
customers, customer satisfaction is seen as key differentiator and increasingly has
become a key element of business strategy.
 All consumers, when they decide to purchase a product or service, however cheap
it may be, they all are buying to certain needs.
 Customer satisfaction has tremendous impact on customer retention and repeat
business.

Importance of Customer and Customer Satisfaction:

 W. Edwards Deming said that the customer is the most important part of the
production line.
 The objective of any organization is to carry on business profitably by retaining
current customers and gaining new ones by continually meeting and exceeding
their needs and expectations.
 The importance of customer satisfaction is gaining significance in the marketing
domain.
 Customer satisfaction but of late has assumed great significance for :
a) Large number of competing brands or products are available in the market.
b) Better brands (products) or better substitutes are coming in the market to
replace old brands or products.
c) Consumer awareness has gone up tremendously due to mass advertising on
electronic media
d) Better technology available to give better quality
e) The marketing companies are interested to achieve long term objectives
through customer satisfaction.
 According to Peter Drucker, the purpose of any business is to create a customer.
It is the customer who determines what a business is.

The Customer Satisfaction Model

The customer satisfaction model has four components:
a) Identify customer
b) Identify needs and importance
c) Measure customer perception
d) Develop action plan
Develop
Identify
Action
Customer
Plan
Measure Identify
Customer Needs And
Perception Importance
The customer satisfaction model has been shown in the above figure. The customer
satisfaction process is not static but a continuous process and should be considered and
organization’s strategic activity.

Customer Satisfaction Tracking System

An effective tracking system must not rely solely on informal qualitative approaches.
Successful firms that have an excellent reputation for customer service- Marriott Hotel,
Federal Express, Xerox and General Electric to name a few- use both qualitative and
quantitative techniques as complimentary approaches for collecting customer satisfaction
data. These companies also view their own employees as internal customers and obtain
formal and informal feedback about their satisfaction levels. Research has documented a
strong link between employee satisfaction and customer satisfaction. Employee feedback
can, thus serve as an early warning system for identifying problems likely to be
experienced by external customers. To be most beneficial all customer satisfaction
measurement should be on going and use multiple approaches. The below figure illustrates
a system that may be appropriate for service companies with large customer bases an
frequent customer contact points like banks, fast food restaurants, insurance and all hotels.
Type of research Frequency Purpose

Customer complaint Continuous Identify dissatisfied customer to attempt
recovery. Track service failure
categories for remedial actions.
Post-transaction Continuous Obtain feedback while experience is still
surveys fresh and act on it quickly, if negative
patterns develop.
Customer focus group Monthly Provide a forum for customers to suggest
Interviews improvement, offer quick, informal
feedback.
Mystery shopping of Quarterly Measure employee behaviour for use in
Service providers training and performance evaluation.
Identify strengths and weakness in
customer contact service
Total market service Thrice a year Assess a company’s service performance
Quality surveys compared to competitors. Identify
service improvement priorities. Track
service improvement and overtime
customer satisfaction tracking system.

1.2 OBJECTIVES OF THE STUDY

 The objective of the study is to find out the consumer’s buying preferences in
Jewelry.
 To know about the working of the jewelry showroom.
 Brand awareness of various brands in the jeweler’s market.
 To study the attitude of customers towards Branded Jewelry.
 To know in detail of the ornaments as per their price and as per their quality.
 To analyze marketing strategies of Vispute Saraf.
 To ascertain the level of brand loyalty and brand image associated by consumer
with a brand name Vispute Saraf and the reason for this.
 To analyze the behavior of customers of Vispute Saraf.
 To measure the level of customer satisfaction.

1.3 STATEMENT OF RESEARCH PROBLEM

Hon. Shri. Deepak Baburao Vispute has launched its gold ornaments outlet named as
VISPUTE SARAF with entire package of offers and with unique collection of designs. So,
after 25 years of business and service, it is important to know how the customers
satisfaction is against its competition and how effective has been the product positioning.
After the purchase of specifically goods or shopping good, a customer exhibits the post
purchase behavior. It may be either cognitive consonance or cognitive dissonance. The
consonance leads to dissatisfaction. But when it comes to customers going in high value
premium segment goods such as gold, diamond and platinum ornaments, in a high
competitive with too many players in the market, then the customer surely has the wide
range of choice to choose from and carefully evaluates the different showrooms before
making a purchase decision. In such a situation, any of purchase dissonance will lead to
very high degree of dissatisfaction., which may also lead to spreading negative option to
the prospective buyer of Jewelers outlet.

1.4 SCOPE OF THE STUDY

This study of understanding the satisfaction of the customers on jewellery brand, namely
VISPUTE SARAF, apart from helping to acquire a better insight and understanding into
the vital, but trivial aspects of the jewellery market, it also helps in assessing the
companies strength and weakness against the competing jewellery brands. Thus, helping
in finding the loop holes in the company’s products on in finding logical solutions to the
problems.
This study helps in finding out:
How the customers rate the various attributes in VISPUTE SARAF as against other
competitors.
How effective has been the company in positioning VISPUTE SARAF as a

reputed jewellery showroom.
How effective has the company’s marketing strategy of low making charge, with
offering a whole lot of unique features provided in the market.

1.5 METHODOLOGY OF DATA COLLECTION
Research methodology can be perceived as a science of studying how research is done

scientifically or pick out the rules for reasoning. Research methodology has many
dimensions and research method constitute a part of research methodology e.g. Survey
method, experimental method, case study method, and so on.
Definition of Research:
A. “Research is a systematic and objective attempt to study the problem and
deriving the general principle”
-Theoderson and Theoderson.
B. “Research is a process of studying analyzing and conceptualizing social

life in order to extend, modify, correct or verify knowledge, whether
knowledge aids in the construction of theory or in the practice of an art.”
-P.V.Young.
Data Collection:
Data collection is the process of gathering and measuring information on targeted
variables in an established systematic fashion, which then enables one to answer relevant
questions and evaluate outcomes. The task of data collection begins after a research
problem has been defined and research design /plan chalked out.

METHOD OF DATA COLLECTION:
TYPES
PRIMARY SECONDARY
DATA DATA
Primary data:
Primary data is data that is original and has never been published before. It is obtained
through means of surveys, observations or experimentation and research. Primary data is
the raw information before the processing is done. It mainly consists of numerical
collections of raw information to be analyzed and evaluated. The term primary data may
sometimes be used to refer to firsthand information.
Methods for collecting primary data are:
 Direct personal observation
 Indirect oral interviews
 Mailed questionnaires
 Schedule method
 From local agents.
Secondary data:
Data collection is a very important activity in the task of any research and the quality of
data collection affect the result. Secondary data by far the most widely used method for
collection, commonly called secondary research. Use of secondary data in research
enquiry saves time, finance and labor. It is highly convenient to use secondary data. Use
of secondary data saves times. It is easy access, low cost to acquire. Help to clarify
research questions and answer research questions. Show difficulties in conducting primary
research. Collections of secondary data for my project report are as follows:
 Internet
 Reference books

RESEARCH INSTRUMENTATION:
If the researcher is using survey that was designed by someone else, the source of the
survey should be stated. The researcher should describe theoretical constructs that the
survey is attempting to measure, include a copy of the actual survey in the appendix and
state that a copy of the survey is in the appendix
Research Methodology Adopted:

A. Research design:-
Concept- research design is an overall framework of project that indicates what
information is to be collected from which sources & by which procedures. This
research is descriptive research.
Research design of a project involves:-
 Collection of information from customer about their satisfaction for the retail
attributes of Govind dande & sons, Nashik.
 Primary data collection methods such as survey method was used, including
questionnaires was adopted for this project work.
B. Data collection methods:-

1. Primary data: - primary data for the project is collected from 50 customers about
their views on various factors. Observation method has also been used. Primary
data is a firsthand data, which is not readily available.
2. Secondary data: - secondary data is the available data. Researcher can collect this
data through various sources like the website, journals, books, etc. Secondary
data relevant for this project work is collected from company website, brochure,
and pamphlets.

1.6 LIMITATIONS OF THE STUDY

The main limitations are:
Time limitation of compelling the project.
Difficulty in communicating within the town while conducting the project.
The information obtained from the consumers based on questionnaries was
assumed to be factual.
Since the survey is based on sampling method, it does not disclose the character
of the entire customers.

CHAPTER NO. 2:
GOLD INDUSTRY
2.1 INTRODUCTION
2.2 APPLICATION
2.3 OCCURRENCE
2.4 INDIAN GEMS AND JEWELLERY INDUSTRY
2.5 OVERVIEW OF GOLD INDUSTRY IN INDIA

2.1 INTRODUCTION
Gold has long been considered the most desirable of precious metals, and its value has
been used as the standard for many currencies in history. Gold has been used as a symbol
for purity, value, royalty. One of the salient features about the gold is that a single gram of
weight is not at all wasted since its exploration. It has been rounding in different hands in
one or the other way.
The history of gold starts from 2600BC. A huge description is available in the Egyptian
Hieroglyphs. It may be the first metal used by humans and was valued for ornamentation
and rituals. Important locations famous in the name of gold are Red sea in Saudi Arabia,
Lydia, and Romania, Las medullas, in Spain, Rosia Montana in Transylvania, Central
America, Peru and Columbia.
Today, gold has emerged as an important mean for investments also. Volatile markets and
unstable economic conditions have also added to it. China is largest producer followed by
South Africa. But India is the largest consumer of gold, where it is largely used for
jewellery together with investment. India’s diversified religious customs and rituals have
helped to the high demand for gold.
2.2 APPLICATIONS
In various countries, gold is used as a standard for monetary exchange, in coinage and in
jewellery. Pure gold is too soft for ordinary use and is typically hardened by alloying with
copper or other base metals. The gold content of gold alloys is measured in carats (k), pure
gold being designated as 24k.
As A Medium of Monetary Exchange:
Gold coins intended for circulation from 1526 into the 1930s were typically a standard
22k alloy called crown gold, for hardness. Modern collector/investment bullion coins are
typically 24k, although the American Gold Eagle and British gold sovereign continue to
be made at 22k, on historical tradition. The worldwide used coins are American Gold
Eagle, British Gold Sovereign, Canadian Gold Maple Leaf, Gold Kangaroos, Australian
Gold Nugget, Australian Lunar Calendar Series, Austrian Philharmonic and American
Buffalo.

Jewellery:
Because of the softness of pure (24k) gold, it is usually alloyed with base metals for use in
jewellery, altering its hardness and ductility, melting point, color and other properties.
Alloys with lower cartage, typically 22k, 18k, 14k or 10k, contain higher percentages of
copper, or other base metals or silver or palladium in the alloy. Copper is the most
commonly used base metal, yielding a redder color. 18k gold containing 25% copper is
found in antique and Russian jewellery and has a distinct, though not dominant, copper
cast, creating rose gold. Fourteen carat gold-copper alloy is nearly identical in color to
certain bronze alloys, and both may be used to produce police and other badges. Blue gold
can be made by alloying with iron and purple gold can be made by alloying with
aluminum, although rarely done except in specialize jewellery. Blue gold is more brittle
and therefore more difficult to work with when making jewellery. Fourteen and eighteen
carat gold alloys with silver alone appear greenish-yellow and are referred to as green
gold. White gold alloys can be made with palladium or nickel. White 18 carat gold
containing 17.3% nickel, 5.5% zinc and 2.2% copper is silver in appearance.
Other uses:
 Salts and radio scopes of gold are used in pharmacology.
 Gold leaf, flakes or dust is used in some gourmet foodstuffs, sweets and drinks
as decorative ingredient.
 Gold is used in dentistry as crowns and permanent bridges.
 Gold threads are used in embroidery
 Gold has been used for electrical wiring in some high energy applications,
atomic experiment and other electrical equipment’s.
 Olympics, Nobel Prize and other competitions and honor’s award a gold medal
to the winner.

2.3 OCCURRENCE
In nature, gold most often occurs in its native state though usually alloyed with silver.
Native gold contains usually eight to ten percent silver, but often much more- alloys with
a silver content over 20% are called electrum. As the amount of silver increases, the
colour becomes whiter and the specific gravity becomes lower.
Ores bearing native gold consists of grains or microscopic practicals of mettalic gold
embedded in rock, often in association with veins of quartz. These are called ‘load’
deposite. Native gold is also found in the form of free flakes, grains.
2.4 INDIAN JEMS AND JEWELLERY INDUSTRY

The export of Gems and Jewellery registered an upbeat growth of percent in dollar terms.
This is particularly interesting industry from an Indian stand point, since it involves
imported raw materials, domestic value added and global markets and provides skilled
employment. Indian gems firms are tightly integrated into global production chains. In
order to give a boost to exports of gems and jewellery, Government took major policy
initiative during the same year.

2.5 OVERVIEW OF GOLD INDUSTRY IN INDIA
 India is the largest consumer of gold in the world followed by China and Japan.
 India is emerging as world’s largest trading Centre of gold with a target of US$18
bn set for 2011.
 India dominates the world’s cut and polished diamonds (CPD) market.
 In value terms, the country accounts for approximately 55% of global polished
diamond market and nearly 9% of the jewellery market.
 Surat contributes 90% of India’s total diamond exports.
 India’s domestics branded jewellery market is estimated at Rs 600-700 crores.
 There are 13 bullion importing bank in India.
 India’s gem and Jewellery Exports Promotion Council (GJEPC) is aiming at
turning India into an international diamond trading Centre.
 Since India is already enjoying 80-85% of the world CPD market, scope for
further growth in diamond exports is limited. Hence, if India’s gems and
jewellery sector is to substantially increase exports, the best lies in the jeweler
sub sector.
 India imports an average of 18000 bars a day, about 70% of the total demand and
the balance is being sourced to indigenous output and metal recycled from old
jewelries.
 The main reason why India has not made a dent in jeweler’s exports market is the
existence of government restrictions in their domestic jewellery industry in the
pre-economic liberalization era. If the gold jewellery exports are to be
encouraged, it would be necessary to allow bulk imports of gold which would
have to be converted to jewellery and then exported.

CHAPTER NO. 3: COMPANY PROFILE

OF VISPUTE SARAF
3.1 INTRODUCTION
3.2 VISION AND MISSION
3.3 BRIEF BACKGROUND OF VISPUTE SARAF
3.4 PRODUCT PROFILE

3.1 INTRODUCTION
Vispute Saraf, is a premium jewelry store in Kopargaon, which is known for its Quality,
Art and Trust. The jewelry store houses over 500 different types of jewelry. Other than
being a trustworthy store for Gold jewelry, the store is also famous for Diamond,
Platinum, Silver and One Gram Gold jewelry.
The Diwali celebrations, which is the grandest event where offers change daily and lucky
draws and special gifts are bestowed on lucky customers.
There are over 106 employees working at the store with an average tenure of 3 years. The
firm takes a keen interest in employee satisfaction and development. The store boasts of
an awesome ambience, and also pays attention in providing services to the customers
other than the normal sales.
3.2 MISSION AND VISION

“To successfully provide the Best Quality Product & Services to the customers that give
the best returns on the amount invested. Our customers have bestowed their trust on us.
Our goodwill in the industry has made us one of the leading Jewelry Stores in Kopargaon
with almost 75000 customers a year.”

3.3 A BRIEF BACKGROUND OF VISPUTR SARAF

Name of the Company Vispute Saraf
Headquarters Location Sambhaji Chowk, Kopargaon
Establishment Date 1938
Business field Jewellery business (gold, silver,
diamond)
Company slogan Quality, Art, Trust
Number of employees 106
Branches Sambhaji Chowk, Kopargaon.
Competitors:
The store faces competitions from the traditional, single jewellery stores of Kopargaon.
Apart from these, it also faces competition from non-traditional jewellery stores. Some of
them are:
a. Tulsidas Khubani
b. Deokar Saraf
c. Bhadakwade Jewellwers

3.4 PRODUCT PROFILE

DETAILS OF VISPUTE SARAF COLLECTIONS:
The exclusive collections of Vispute Saraf include:
 Royal Mughal collections
 Karachi bangles.
 Calcutta collections.
 Rajkot collections.
 Zara collections.
 Antique collections.
 Hansa collections.
 Bombay and Bombay special collections.
 Signity studded jewelry.
 Daily wear bangles and chains.
 Formal or work wear jewelry.
 Navrathna, birthstones, lucky stones studded with gold.
 Varied collections of diamonds

RINGS EARRINGS
PENDANTS GOLD CRAFTED ARTICLES

SILVER COINS SILVER CRAFTED ARTIFACTS
POOJA ARTICLES SILVER IDOLS

MANGALSUTRA NECKLACES
BRACELETS
BANGLES

CHAPTER NO. 4: CUSTOMER

SATISFACTION
4.1 INTRODUCTION
4.2 CUSTOMER SATISFACTION
4.3 BUYER AN- ENIGMA
4.4 FACTORS INFLUENCING CUSTOMER
SATISFACTION
4.5 POST PURCHASE BEHAVIOUR

4.1 INTRODUCTION
All of us are consumers. We consume things of daily use; we alsoconsume and buy these
products according to our needs, preferences and buying power. These can be
consumable goods, durable goods, specialtygoods or industrial goods.What we buy, how
we buy, where and when we buy, in how muchquantity we buy depends on our
perception, self concept, social andcultural background and our age and family cycle, our
attitudes, beliefs,values motivation, personality, social class and many other factors
thatare both internal and external to us.
4.2 CUSTOMER SATISFACTION

The degree to which customer expectations of a product or service aremet or exceeded.
Corporate and individual customers may have widelydiffering reasons for purchasing a
product or service and therefore anymeasurement of satisfaction will need to be able to
take into account suchdifferences. The quality of after-sales service can also be a crucial
factor in influencing any purchasing decision. More and more companies arestriving, not
just for customer satisfaction, but for customer delight, thatextra bit of added value that
may lead to increased customer loyalty. Any extra added value, however will be need to
be carefully hosted.
4.3 BUYER – AN ENGIMA

Although it is important for the firm to understand the buyer and accordingly evolve its
marketing strategy, the buyer or consumer continuous to begin an enigma - sometimes
responding the way the marketer wants and on another occasions just refusing to buy the
product from the same marketer. For this reason, buyers mind has been termed as a black
box, the marketer provides stimuli but he is uncertain of the buyers response. This
stimulus is a combination of product brand name, colour, style, packaging, intangible
services, merchandising, shelf, display advertising, distribution, publicity and so forth.
Further today's customer is been greatly influenced by the media especially electronic.
Technological developments in the field of information, biotechnology and genetics, and
the intensive competitions in all products and services and also impact in consumer
choices.

4.4 FACTORS INFLUENCING CUSTOMERS

SATISFACTION
The factors that influence customer satisfaction can be classified into internal factors and
external environmental factors. External factors do not affect the decision process
directly, but prelocate or filter through the individual determinants, to influence the
decision process.
The individual determinants that affect customer satisfaction are:
Motivation and Involvement
Attitudes
Personality and self-concept
Learning and Memory
Information Processing
The external influences or factors are:
Cultural Influences
Sub-cultural Influences
Social class Influences
Social group Influences
Family Influences
Personal Influences
Other Influences

4.5 POST PURCHASE BEHAVIOUR

It is important for the marketer to know whether his product is liked by the customers or
not. He wants the feedback about his product so that corrective action, if necessary, can
be taken, and the marketing mix be modified accordingly. Post purchase behaviour is the
reaction of the consumers; it gives an idea of his likes and dislikes, preferences and
attitude and satisfaction towards the product. It indicates whether or not to purchase
motivates have been achieved. Purchase is the means and post purchase is the end. Post
purchase behaviour indicates whether or not repeat purchase will be made. Whether the
customer will be come in the product to others or not. It indicates whether long-term
profits can or cannot be expected. ll these can be found out by the post purchase
behaviour or the customers. Post purchase is the last phase in the decision making
process.

CHAPTER NO. 5:
DATA ANALYSIS AND
INTERPRETATION

DATA ANALYSIS AND INTERPRETATION

The parameters according to the title of project were analysis. Data is collected by
surveying 100 people by the using the tool questionnaire. Following is analysis of each
parameter.
1. Address of Respondents
Table No: 1: Address of Respondents
Sr No Parameter No of Customers Percentage
1 Kopargaon 72 72%
2 Sinnar 1 1%
3 Kolpewadi 5 5%
4 Yeola 4 4%
5 Aurangabad 1 1%
6 Nifad 1 1%
7 Shrirampur 2 2%
8 Rahata 11 11%
9 Shirdi 2 2%
10 Sahajapur 1 1%
Total 100 100%
(Source: Questionnaire Data)

Graph No : 1 Address of Respondents
ADDRESS OF RESPONDENTS
72%
11%
1%
4% 5%
2% 1%
2%
1%
KOPARGAON SINNAR KOLPEWADI YEOLA AURANGABAD

NIFAD SHRIRAMPUR RAHATA SHIRDI SAHAJAPUR
(Source: Table No :1)
INTERPRETATION:
The survey shows that 72% of the crowd come to Vispute Saraf from town of Kopargaon
Taluka itself while 1% of crowd come from Sinnar, Aurangabad, Nifad, Sahajapur; even
5% of crowd come from Kolpewadi, along with that 4% of crowd come from Yeola, 2%
of crowd come from Shrirampur, Shirdi and 11% of crowd come from Rahata.

2. Age of Respondents:
Table No :2 : Age of Respondents
SR PARAMETER NO. OF PERCENTAGE
NO CUSTOMERS
1 0-20 2 2%
2 20-40 58 58%
3 40-60 35 35%
4 60 Onwards 5 5%
Total 100 100%
(Source : Questionnaire Data )
Graph No : 2 Age of Respondents
AGE OF RESPONDENTS
2%
5%
35%
58%
0-20 20-40 40-60 60 ONWARDS
INTERPRETATION:
According to the analysis, 0-20age group of people rarely buy the jewellery i.e., upto 2%
whereas 58% of people from the 20-40 age group buy jewellery in large quantity, 35% of
people from the 40-60 age group buy jewellery and the one who are old customers of
Vispute Saraf comes under 60 onwards age group are upto 5%.

3. Gender of Respondents:
Table No :3 : Gender of Respondents
NO CUSTOMERS
1 Male 63 63%
2 Female 37 37%
Total 100 100%
Graph No : 3 Gender of Respondents
GENDER OF RESPONDENTS
0%
FEMALE
37%
MALE
63%
MALE FEMALE
INTERPRETATION:
It is been seen that mostly Males come to buy the jewellery of females that is upto 63%
while 37% of female refer to come on their own and buy their jewellery as per their
choice.

4. How did you came to know about Vispute Saraf?

Table No :4 : Marketing Strategies
NO CUSTOMERS
1 Hoarding 22 14.66%
2 Pamphlet 16 10.67%
3 Friends/Relatives 52 34.67%
4 Social Media 20 13.33%
5 Showroom 10 6.67%
Attracted from
Road
6 Newspaper 8 5.34%
7 Mouth to Mouth 9 6%
8 Other 13 8.66%
Total 100 100%

Graph No : 4 Marketing Strategies
MARKETING STRATEGIES
HOARDING
PAMPHLET
8.66% 14.66%
5.34% 6%
FRIENDS/RELATIVES
10.67%
6.67% SOCAIL MEDIA
13.33% SHOWROOM ATTRACTED

FROM ROAD
34.67% NEWSPAPER
MOUTH TO MOUTH
OTHER
INTERPRETATION:
Our survey amicably shows that the customers are made aware of Vispute Saraf through
Hoardings as it accounted 14.66%, whereas Pamphlet accounted 10.67%, Friends and
Relatives have accounted 34.67%, Social Media has accounted 13.33%, as Showroom is
attracted from road their was no need to do publicity and because of these great advantage
6.67% has got attracted automatically, through newspaper it has accounted 5.34%,
whereas Mouth to Mouth Publicity has brought 6% customers and in Other Parameter
8.66% has came to know about Vispute Saraf and they specified that these customers
coming under Other doesn’t need any marketing tool as they have blind faith on Vispute
Saraf and are old customers of Vispute Saraf.

5. What do you mostly buy from Vispute Saraf?

Table No :5 : Most purchased Jewellery
NO CUSTOMERS
1 Gold 100 50%
2 Diamonds 16 8%
3 Silver 50 25%
4 Jem 12 6%
5 Stone 13 12.5%
6 Forming and 9 4.5%

Immitation
Total 100 100%

Graph No : 5 Most purchased Jewellery
MOST PURCHASED JEWELLERY

4.50%
12.50%
6%
50%
25%
8%
GOLD DIAMOND SILVER JEM STONE FORMING AND IMMITATION
INTERPRETATION:
100 customers were analysed, from which 50% customers (100 customers) purcahse gold
from Vispute Saraf, whereas 8% of customers purchase the diamond, 25% of customers
purchase mostly Silver Utensils from Vispute Saraf, 6% of customers get Jems and
12.5% of customers buy Stone and 4.5% of customers buy Forming and Immitation
jewellery for marriage purpose.

6. What do you feel about the service of Vispute Saraf?

Table No :6 : Service Provided
SR NO. OF
PARAMETER PERCENTAGE
NO CUSTOMERS
1 Excellent 87 87%
2 Above Average 8 8%
3 Average 5 5%
4 Below Average - -
5 Very Poor - -
Total 100 100%

Graph No : 6 Service Provided
SERVICE PROVIDED
5% 0
8%
EXCELLENT
ABOVE AVERAGE
AVERAGE
BELOW AVERAGE
87%
VERY POOR
INTERPRETATION:
By this pie diagram it can be interpreted that 87% of the total customers feel the service
provided by Govind dande and sons was Excellent, 8% feel that service was above
average while 5% feel the service was average.

7. How would you rate the salesman responsiveness of Vispute Saraf?

Table No :7 : Rates for Salesaman
NO CUSTOMERS
1 Excellent 83 83%
3 Average 4 4%
4 Below Average - -
5 Very Poor - -
Total 100 100%
Graph No : 7 Rates for Salesaman
RATES
AVERAGE
BELOW FOR
AVERAGESALESMEN
POOR
ABOVE AVERAGE 4% 0%
13%
EXCELLENT
ABOVE AVERAGE
AVERAGE
BELOW AVERAGE
POOR
EXCELLENT
83%
INTERPRETATION:
The customers of Vispute Saraf are happy with the customer relationship they hold with
the floor salesmen. 83% people feel that the salesman relationship is excellent, as 13%
feel that the salesman relationship is above average and 4% feel that it is average. One
good thing I came to know that, the service and support provided by Vispute Saraf are not
poor. Some feel that the salesman relationship need improvements.

8. How often do you purchase jewellery from Vispute Saraf?

Table No :8 : Purchasing Capability
NO CUSTOMERS
1 Always 63 63%
2 Often 10 10%
3 Sometimes 21 21%
4 Seldom 4 4%
5 Never 2 2%
Total 100 100%
Graph No : 8 Purchasing Capability
PURCHASING CAPABILITY
0
4%
21%
ALWAYS
10% OFTEN
63% SOMETIMES
SELDOM
NEVER
INTERPRETATION:
63% of the customers always purchase the jewellery while, 10% of them purchase
according to the festivals. 21% of the customers purchase the jewellery from Vispute
Saraf sometimes while 4% of customers buy rarely and 2% of customers said that they
never buy the jewellery from Vispute Saraf.

9. Are you satisfied with the showroom facility of Vispute Saraf ?

Table No :9: Satisfaction
NO CUSTOMERS
1 Always 80 80%
2 Often 11 11%
3 Sometimes 5 5%
4 Seldom 3 3%
5 Never 1 1%
Total 100 100%
Graph No : 9 Satisfaction
SATISFACTION
5% 3% 2%
11%
80%
ALWAYS OFTEN SOMETIMES SELDOM NEVER

INTERPRETATION:
80 % customers of Vispute Saraf are always satisfied showroom facilites ,while 11%
were oftenly satisfied by the facilities. 5% of the customers were sometimes satisfied
whereas 3% of them were rarely satisfied and 1% of customer was not satisfied.The
experience of customers in the showroom of Govind dande is good enough as the service
is excellent. All the customers are more or less satisfied with the service provided by the
showroom facilities

10. How would you rate the designs of gold ornaments available in Vispute
Saraf?
Table No :10 : Rating of Designs
NO CUSTOMERS
1 Excellent 68 68%
3 Average 8 8%
4 Below Average 1 1%
5 Very Poor - -
Total 100 68%
Graph No : 10 Rating of Designs
RATING
8% 1%0 OF DESIGNS
23%
EXCELLENT
ABOVE AVERAGE
AVERAGE
BELOW AVERAGE
68%
VERY POOR

INTERPRETATION:
We can see that the ratings of Vispute Saraf suggest that the design variety is good
enough and the ornaments available in the showroom are satisfactory. The ornaments of
the showroom are designed to be satisfactory. 68% of the 100 people think that the
designs are excellent compared to other gold outlets. 23% think that the ratings are
Above Average. 08% think that the variety of the designs are Average. 1% think that the
ratings are below average.

11. Which factor influenced your purchase at Vispute Saraf?

Table No :11 : Influencing Power
NO CUSTOMERS
1 Company 16 16%
Image
2 Quality 63 63%
3 Advertisement 12 12%
4 Collection 9 9%
Available
Total 100 100%
Graph No : 11 Influencing Power
INFLUENCING POWER
9% 16%
12%
63%
COMPANY IMAGE QUALITY ADVERTISEMENT COLLECTION AVAILABLE

INTERPRETATION:
Quantity is temporary but quality is permanent. It also reflects on the survey results. As
the quality of gold provided by Vispute Saraf speaks for its sale and loyalty of customers.
We see that 63% of the customers believe in the quality of Vispute Saraf and 9% buy from
these stores because of the variety of ornaments available in their showroom. 12% buy
after watching the advertisements in the paper n radio. 16% buy because of the company
image.

12. Are you satisfied with the information provided by the salesman about gold
jewellery such as hall mark, total weight of the product and information of
various schemes?
Table No :12 : Satisfaction for the information provided
NO CUSTOMERS
1 Yes 99 99%
2 No 1 1%
Total 100 100%
Graph No : 12 Satisfaction for the information provided
SATISFACTION FOR THE

INFORMATION PROVIDED
0
1%
YES
NO
99%
INTERPRETATION:
99% customers of Vispute Saraf are satisfied with the information provided to them by
salesman at the store about gold and various aspects, where as 1% weren’t satisfied.

13. Are you able to get immediate response for the complaints registered or your
queries?
Table No :13 : Response for complaints
NO CUSTOMERS
1 Always 74 74%
2 Often 15 15%
3 Sometimes 7 7%
4 Seldom 2 2%
5 Never 2 2%
Total 100 100%
Graph No : 13 Response for complaints
RESPONSE FOR COMPLAINTS
7% 2%2%
15%
ALWAYS
OFTEN
SOMETIMES
74%
SELDOM
NEVER
INTERPRETATION:
80% of the people feel that Govind dande and son’s service is excellent. All their
complaints are met with wonderful service. As there are particular individuals hired to
deal with queries and complain of customer, only 2% think that the service of stores is
not up to the mark and 2% think that rarely the complaints are seen. Most of the
customers are satisfied with the service.

14. How would you rate overall performance of Vispute Saraf with respect to
other Jewellers?
Table No :14 : Comparison
SR NO PARAMETER NO. OF PERCENTAGE
CUSTOMERS
1 Excellent 80 80%
2 Above 14 14%
Average
3 Average 5 5%
4 Below - -
Average
5 Very Poor 1 1%
Total 100 100%
Graph No : 14 Comparison
COMPARISON
5% 1%
0
14%
80%
EXCELLENT ABOVE AVERAGE AVERAGE BELOW AVERAGE VERY POOR
INTERPRETATION:
Here I see that Vispute Saraf is the clear leader in Kopargaon area and 80% think that the
services are excellent compared to other shops available nearby.While 14% and 5% think
that Vispute Saraf’s performance is about average and averages as compare to others. 1%
of people feel that other shops are well furnished to satisfy the needs of the customers.

15. Will you insist your well-wishers, friends and relatives to purchase from
Vispute Saraf?
Table No :15 : Recommending others or not
NO CUSTOMERS
1 Yes 100 100%
2 No - -
Total 100 100%
Graph No : 15 Recommending others or not
RECOMMENDING OTHERS OR NOT

NO
0%
YES
100%
YES NO
INTERPRETATION:
The last question makes us to believe that the customers of Vispute Saraf are loyal and
trustworthy. They advertise Vispute Saraf by mouth to mouth publicity. The customers
insist their relatives, friends and family to buy from Vispute Saraf.

CHAPTER NO. 6: FINDING AND

SUGGESTIONS
6.1 FINDINGS
6.2 RECOMMENDATION
6.3 SUMMARY AND CONCLUSION
6.4 QUESTIONNARIE
6.5 REFERENCES
6.6 BIBLIOGRAPHY

6.1 FINDINGS
From the above data collected we can observe the following things:
 Most of the respondents are males purchasing jewellery for Females.
 Vispute Saraf has got large no. of gold ornaments customers as compared to
diamond and silver
 The customers oftenly buy the jewellery from Vispute Saraf.
 Friends/Relatives publicity is the advertising media through which large no. of
customers came to know about Vispute Saraf.
 Factors like company image, quality, advertisement, collections have equally
influenced the purchase. Whereas Quality given made customers more satisfied.
 Major no. of respondents are satisfied with the showroom facility of Vispute
Saraf.
 Designs of ornaments are rated as excellent by the major respondents
 Respondents got immediate response for the complaints registered and for
queries, Because of the strong hired team.
 Salesman responsiveness is rated as excellent and above average by major
customers
 Vispute Saraf provides good service facility.
 Level of satisfaction of customers in all the major area is good.
 Respondents are ready to insist their well-wishers to purchase from Vispute Saraf
due to their excellent services
 The consumer behavior of Vispute Saraf is good.

6.2 RECOMMENDATIONS
From the data collected I can suggest the following recommendations
 Only a few customers had purchased diamonds and silver ornaments, so a special
attention should be paid in these areas.
 Among the service facilities, respondents suggest to improve parking facility.
 More branding of the organization can be done to attract customers from other
parts of nearby places.
6.3 SUMMARY & CONCLUSIONS
 The project is all about knowing the customer satisfaction of Vispute Saraf.
 Project starts with the definition of customer and customer satisfaction further
importance of customer satisfaction and the customer satisfaction model have
been explained.
 Then comes the part when the actual project work starts. With the help of a
questionnaire certain aspects of the satisfaction are covered.
 With the help of a questionnaire feedback of customers has been taken and based
on the response, the data has been interpreted.
 Further the interpretation concludes that customers of Vispute Saraf are mostly
satisfied with their services and range of products.

6.4 QUESTIONNARIE
A study of the Customer satisfaction
1. Name:
2. Address:
3. Age:
4. Mobile no:
5. Gender: a] Female [ ]
b] Male [ ]
6. How did you came to know about Vispute Saraf?
Hoarding [ ]
Pamphlet [ ]
Friends/Relatives [ ]
Social Media [ ]
Showroom attracted from road [ ]
Newspaper []
Mouth-to-mouth [ ]
Other [ ]
7. What do you mostly buy from Vispute Saraf?

Gold []
Diamonds [ ]
Silver []
Jem [ ]
Stone [ ]
Diamond [ ]
Forming and Immitation [ ]

8. What do you feel about the service of Vispute Saraf?

Excellent [ ]
Above Average []
Average []
Below Average [ ]
Very Poor [ ]
9. How would you rate the salesman responsiveness of Vispute Saraf?

Excellent [ ]
Above Average []
Average []
Below Average [ ]
Very Poor [ ]
10. How often do you purchase jewellery from Vispute Saraf?
Always [ ]
Often [ ]
Sometimes [ ]
Seldom [ ]
Never [ ]
11. Are you satisfied with the showroom facility of Vispute Saraf ?
Always [ ]
Often [ ]
Sometimes [ ]
Seldom [ ]
Never [ ]

12. How would you rate the designs of gold ornaments available in Vispute Saraf?
Excellent [ ]
Above Average []
Average []
Below Average []
Very Poor []
13. Which factor influenced your purchase at Vispute Saraf?

Company image [ ]
Quality []
Advertisement []
Collection available [ ]
14. Are you satisfied with the information provided by the salesman about gold
jewellery such as hall mark, total weight of the product and information of
various schemes?
Yes [ ]
No [ ]
15. Are you able to get immediate response for the complaints registered or your
queries?
Always [ ]
Often [ ]
Sometimes [ ]
Seldom [ ]
Never [ ]

16. How would you rate overall performance of Vispute Saraf with respect to other
Jewellers?
Excellent [ ]
Above Average []
Average [ ]
Below Average [ ]
Very Poor [ ]
17. Will you insist your well-wishers, friends and relatives to purchase from
Vispute Saraf?
Yes [ ]
No [ ]
18. Feedback and suggestions:

6.5 REFERENCES
1. Kemp, Simon (October 1998). Perceiving luxury and necessity. Journal of
Economic Psychology; ISSN: 01674870, Vol. 19 Issue 5, 591-605.
2. Ahmad Jamal; Mark M H Goode (November 2001). Consumers and brands: a
study of the impact of self-image congruence on brand preference and
satisfaction. Marketing Intelligence & Planning, Vol.19 No.7, 7, 482-492.
3. Amit Sahdev, Priyanka Gautama (8 April 2007). Are Consumer Perceptions of
Brand affected by Materialism? International Marketing Conference on
Marketing & Society, IIMK, Pages 459-461.
4. John R. Bryson & Michael Taylor (2009). Competitiveness by design and
inimitability through service: understanding the dynamics of firm-based
competition in the West Midlands jewelry and lock industries, 583-596.
5. Mary Shustack (January 16, 2012). Pam Older has crafted a second act in
jewelry design. Westchester County Business Journal-a division of Westfair
Business Publication, 8
6. Training helps salesforce to sparkle: Program develops listening skills at
jeweler, Human Resource Management International Digest, Emerald Group
Publishing Limited, Vol. 19 Iss: 1, 15 – 16
7. Changing times of Jewelry Retail in India - Branded Jewelry, Malls and Online
Shopping, Idealcut, The newsletter of the gems and jewelry export promotion
council, Vol. No.: 1 | Issue: 3, July 2009

6.6 BIBLIOGRAPHY
Data is collected from the following sources:
 Marketing Management – Kotler & Keller

 Marketing Management – Biplab S. Bose
 Research Methodology A Step-by-step – Ranjit Kumar
 Research Methodology Methods and Techniques – C.R.Kothari
Websites visited:
 http://iaset.us/download/archives/--1387547947-3.%20Sales%20-
%20IJSMM%20-
%20A%20STUDY%20ON%20THE%20CONSUMER%20PREFFERENCE%
20-%20Venkateswara%20Raju.pdf
 https://www.scribd.com/document/94654008/Customer-Satisfaction-of-
Jewellery
 https://www.indiamart.com/company/3526108/

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Customer Satisfaction of Vispute Saraf Kopargaon 2020

Research Methodology [BBA-IB] (606) Page 1

1.1 INTRODUCTION TO INDUSTRY

Who are the customers?

Research Methodology [BBA-IB] (606) Page 2

Importance of Customer and Customer Satisfaction:

Research Methodology [BBA-IB] (606) Page 3

The Customer Satisfaction Model

Research Methodology [BBA-IB] (606) Page 4

Customer Satisfaction Tracking System

Type of research Frequency Purpose

Research Methodology [BBA-IB] (606) Page 5

1.2 OBJECTIVES OF THE STUDY

Research Methodology [BBA-IB] (606) Page 6

1.3 STATEMENT OF RESEARCH PROBLEM

Research Methodology [BBA-IB] (606) Page 7

1.4 SCOPE OF THE STUDY

How effective has been the company in positioning VISPUTE SARAF as a

Research Methodology [BBA-IB] (606) Page 8

1.5 METHODOLOGY OF DATA COLLECTION

Research methodology can be perceived as a science of studying how research is done

B. “Research is a process of studying analyzing and conceptualizing social

Research Methodology [BBA-IB] (606) Page 9

METHOD OF DATA COLLECTION:

Research Methodology [BBA-IB] (606) Page 10

Research Methodology Adopted:

B. Data collection methods:-

Research Methodology [BBA-IB] (606) Page 11

1.6 LIMITATIONS OF THE STUDY

Research Methodology [BBA-IB] (606) Page 12

Research Methodology [BBA-IB] (606) Page 13

Research Methodology [BBA-IB] (606) Page 14

Research Methodology [BBA-IB] (606) Page 15

2.4 INDIAN JEMS AND JEWELLERY INDUSTRY

Research Methodology [BBA-IB] (606) Page 16

2.5 OVERVIEW OF GOLD INDUSTRY IN INDIA

Research Methodology [BBA-IB] (606) Page 17

CHAPTER NO. 3: COMPANY PROFILE

Research Methodology [BBA-IB] (606) Page 18

3.2 MISSION AND VISION

Research Methodology [BBA-IB] (606) Page 19

3.3 A BRIEF BACKGROUND OF VISPUTR SARAF

Research Methodology [BBA-IB] (606) Page 20

3.4 PRODUCT PROFILE

Research Methodology [BBA-IB] (606) Page 21

PENDANTS GOLD CRAFTED ARTICLES

Research Methodology [BBA-IB] (606) Page 22

SILVER COINS SILVER CRAFTED ARTIFACTS

POOJA ARTICLES SILVER IDOLS

Research Methodology [BBA-IB] (606) Page 23

Research Methodology [BBA-IB] (606) Page 24

CHAPTER NO. 4: CUSTOMER

Research Methodology [BBA-IB] (606) Page 25

4.2 CUSTOMER SATISFACTION

4.3 BUYER – AN ENGIMA

Research Methodology [BBA-IB] (606) Page 26

4.4 FACTORS INFLUENCING CUSTOMERS

Research Methodology [BBA-IB] (606) Page 27

4.5 POST PURCHASE BEHAVIOUR

Research Methodology [BBA-IB] (606) Page 28

Research Methodology [BBA-IB] (606) Page 29

DATA ANALYSIS AND INTERPRETATION

Sr No Parameter No of Customers Percentage