consumer buying behaviour of branded and non branded jewellery
Project report onconsumer buying behaviortowards branded and non branded jewellery Presented by- Group 7 Gaurav Khatri Devendran S.P Pushpam Shree Vandana Madhuri Singh Siddharth Tripathi Timsi Luthra
INTRODUCTION As India makes rapid progress in the retail arena, the Indian Jewellery market is undergoing a gradual metamorphosis from unorganized to organized formats. Jewellery retailing is moving from a ‘Storehouse of value’ to a ‘Precious fashion accessory’. Consumers are more quality conscious than ever before. The jewellery market is one of the largest consumer sectors in the country- larger than telecom, automobiles, and apparel and perhaps second only to the foods sector.
Sample size- 50Population- residents of NCR regionSampling design- Random sampling
OBJECTIVESTo study and understand the buying behavior of consumers for branded and non branded jewelleryTo find the difference b/w perceptions, opinion and behavior of branded and non- branded jewellery buyers.To have an idea about parameters consumer consider while buying jewelleryTo know the knowledge level of customers regarding the jewellery brands available in the market
DECISION PROBLEMWhy the behavior of consumers towardsbranded jewellery still not inclined in aproper way as compared to non brandedjewellery?
RESEARCH PROBLEMS1) What is the awareness and purchase intention of consumers while buying jewellery?2) What kind of designs are preferred by the consumers, traditional or branded?3) What are the branded jewelers doing to create awareness about their products?4) Does buying behavior change as per the occasion?5) Is there any difference in the buying patterns of working women and housewives?6) How brand conscious are people when they buy jewellery for others?
HYPOTHESIS The income level of the buyers is same. The expectations of the buyers from the jewelers remain the same in every situation. Buyers make purchases only during some occasion like marriages, gifts, etc. More of female buyers are inclined towards the new designs introduced by the branded jewelers.
Continued.. The selection of jeweler also depends upon the geographical location of buyer. The knowledge about the branded jewelers is due to the advertisements floating on air. The price of gold and other precious stones also play a significant role in the purchasing procedure.
BRANDED JEWELLERY Name & reputation gives a confidence to the consumer It comes with a written lifetime guarantee, considering the emotional quotient of the consumer Excellent quality, good selling policies and backup services for jewellery Has a more contemporary stylish and classic outlook, which easily segments itself among the traditional ones. Available at multiple outlets
NON-BRANDED JEWELLERYCustomer can tailor make jewellery according to their preferencesNo written lifetime guarantee, trust is purely based on consumerMinimum efforts in packaging, finishing, sales & low advertisingIs usually bulky & traditionalAvailable only in traditional jewellery outlets