new data for research

1. Summer Training Report
On
“Customer Satisfaction towards Precious Metal Products”
At
MMTC Ltd.
Submitted towards the partial fulfillment of the requirement of the degree of
post graduation diploma in management
Submitted to Submitted by
Mrs. Radhika Malhotra TusharGupta
Professor(Marketing) GM 17208
GL BAJAJ INSTITUTE OF MANAGEMENT AND RESEARCH
GREATER NOIDA

2. 2
Acknowledgement
In my endeavor to work on the project on Customer satisfaction of MMTC's precious metal
division products, I have been fortunate enough to receive whole hearted support and aspiration
from many. It is just and proper from me to place my gratitude towards all those who helped me
in gaining insight and knowledge into various aspects of the gems and jewellery sector (PMD).
First of all I am extremely thankful to Mr. Abhay Kumar, Additional General Manager MMTC
Ltd. & Mr. Sandeep Narang, Senior Manager. for giving me the opportunity to undertake this
project as a part of my summer internship at MMTC Ltd and for the overall support, valuable
guidance, astute judgment, constructive criticism. I would also like to make special reference of
the contribution and whole hearted support of all the staff and departments at MMTC who took
out time to provide me valuable information whenever needed.
This project has been a great and unique experience of immense value for me and I would like to
thank Dr. Urvashi Makkar, Director General, G.L Bajaj Institute of Management and Science
for her valuable guidance and words of encouragement and motivation for the successful
completion of the project. I also owe deep sense of gratitude to my institution, G.L Bajaj
Institute, Greater Noida for giving me a platform to undertake project of this magnitude.
Last but not the least I would like to thank Ms. Radhika Malhotra, Assistant professor for
providing all her valuable guidance and support in shaping this project and successful
completion of the project.
I would also like to extend my heartfelt thanks to all the respondents I surveyed for the collection
of project data and other sources that made valuable contributions and constructive feedback
towards the completion of this project.

3. 3
Declaration
I, Tushar Gupta, hereby declare that the presented report of internship titled “CUSTOMER
SATISFACTION TOWARDS PRECIOUS METAL PRODUCT AT MMTC LIMITED.” is
uniquely prepared by me after the completion of two months work at MMTC Limited.
I also confirm that, the report is only prepared for my academic requirement not for any other
purpose. It might not be used with the interest of opposite party of the corporation.
Thanks and best regards,
TUSHAR GUPTA
Post diploma graduation management (PGDM)
Signature:

4. 4
GL BAJAJ INSTITUTE OF MANAGEMENT AND RESEARCH
GREATER NOIDA
Faculty Guide Certificate
This is to certify that the work embodied in this summer training report entitled
“CUSTOMER SATISFACTION TOWARDS PRECIOUS METAL PRODUCT AT MMTC
LIMITED” being submitted by Mr. Tushar Gupta towards the partial fulfillment
of the requirement for the award of “Post Graduate Diploma in Management”
during 2017-19 is a record of original piece of work, carried out by him under my
supervision and guidance in GL Bajaj Institute of Management and Research,
Greater Noida (U.P).
Faculty Guide
Ms. Radhika Malhotra
Professor(Marketing)
GL BajajInstitute of Managementand Research, GreaterNoida (U.P)

5. 5
Abstract
The main purpose of this research study is to investigate service quality as the most important
factor behind customer satisfaction in MMTC Limited. Understanding the factors behind
antecedent of customer satisfaction is an important issue for academic research. This
investigation examined the service quality influence on customer satisfaction on purchase of
precious metal products of MMTC limited.
Here theoretical perspectives include such customer’s satisfaction towards service quality
dimensions. To know the level of customer satisfaction and factor affecting purchase of precious
metal products at MMTC.
A survey was conducted to gather primary data by selecting customers from MMTC Limited and
that was analyzed by using correlation matrix and multiple regression models. Reliability was the
high correlation with customer satisfaction and empathy was the lowest correlation with
customer satisfaction. The findings revealed that satisfaction and service quality dimensions are
related to each other. Along with this all five dimensions have positive impact on customer
satisfaction.
Key words: Service Quality, Service Quality Dimensions, customer Satisfaction.

6. 6
Table of Content
Acknowledgement 2
Declaration 3
Industry Guide Certificate 4
Faculty Guide Certificate 5
Abstract 6
Table of Content 7
1. Introduction 8
a. Introduction of Topic 9
b. Background of the Topic 11
2. Company Profile 13
a. Introduction 14
b. Corporate Mission 15
c. Business Vertical 15
3. Literature Review 21
4. Research Objectives and Hypothesis 28
5. Research Methodology 31
a. Research Design 32
b. Data Collection 33
6. Data Analysis and Interpretation of Finding 34
7. Conclusion 47
8. Suggestion and Recommendations 49
Bibliography 51
Appendix 52

7. 7
Chapter- 1
INTRODUCTION

8. 8
Introduction of Topic
1.1 Customer Satisfaction
Customer satisfaction is a business term, is a measure of how products and services supplied by a
company meet or surpass customer expectation. It is seen as a key performance indicator within
business and part of the four prospective of balanced score card.
1.2 Definition
Codotte, woodruff and Jenkins (1987) define customer satisfaction as "conceptualized as a
feeling developed from an evaluation of the experience". HERE, the timing of satisfaction
response is driving consumption.
kotler (2003) that "customer satisfaction is a person's feeling of pleasure or disappointment
resulting from comparing a products perceived performance in relation to his or her
expectation".
In short customer satisfaction is "The provision of goods or services which fulfill the customer
expectation in terms of quality and service, in relation to price paid.”
1.3 Purpose
"Customer satisfaction provides a leading indicator of consumer purchase
intentions and loyalty." "Customer satisfaction data are among the most frequently collected
indicators of market perceptions. Their principal use is twofold:"
1. "Within organizations, the collection, analysis and dissemination of these data send a
message about the importance of tending to customers and ensuring that they have a
positive experience with the company's goods and services."

9. 9
2. "Although sales or market share can indicate how well a firm is performing currently,
satisfaction is perhaps the best indicator of how likely it is that the firm’s customers will
make further purchases in the future. Much research has focused on the relationship
between customer satisfaction and retention. Studies indicate that the ramifications of
satisfaction are most strongly realized at the extremes.”
1.4 Importance of customer satisfaction
 It costs at least 7 times more to source a new customer than it does to retain existing one
 A 'satisfied' customer tells 5-7 people in a year whilst a 'dissatisfied' customer will tell14-
15 people.
 Companies can boost profits anywhere from 25% to 125% by retaining a mere 5%more
of their exciting customers.
 Totally satisfied customers were 6 times more likely to use that services and commend it
than ' satisfied' customers.
 Customers who have a bad experience with you and do not complain are only 37%likely
to still do business with you.
 Customers who have an opportunity to complain and the complaint is achieved are95%
likely to still do business with you
1.5 Factors ofcustomersatisfaction
 Service of quality
 Reliability of service
 Knowledge of the staff
 Being kept informed of progress
 The way service kept its promises

10. 10
 The way the service handled any problem Friendliness of staff
 How sympathetic staff was to your needs
 Speed of enquiries
 Number of time had to contact the service
2. Background and justification of topic
Various theories of customer satisfaction
Assimilation Theory
Assimilation theory is based on Festinger’s (1957) dissonance theory. Dissonance theory posits
that consumers make some kind of cognitive comparison between expectations about the product
and the perceived product performance. This view of the consumer post-usage evaluation was
introduced into the satisfaction literature in the form of assimilation theory. According to
Anderson (1973), consumers seek to avoid dissonance by adjusting perceptions about a given
product to bring it more in line with expectations. Consumers can also reduce the tension
resulting from a discrepancy between expectations and product performance either by distorting
expectations so that they coincide with perceived product performance or by raising the level of
satisfaction by minimizing the relative importance of the disconfirmation experienced.
Contrast Theory
Contrast theory was first introduced by Hovland, Harvey and Sherif (1987). Dawes et al (1972)
define contrast theory as the tendency to magnify the discrepancy between one’s own attitudes
and the attitudes represented by opinion statements. Contrast theory presents an alternative view
of the consumer post-usage evaluation process than was presented in assimilation theory in that
post-usage evaluations lead to results in opposite predictions for the effects of expectations on
satisfaction. While assimilation theory posits that consumers will seek to minimize the

11. 11
discrepancy between expectation and performance, contrast theory holds that a surprise effect
occurs leading to the discrepancy being magnified or exaggerated. According to the contrast
theory, any discrepancy of experience from expectations will be exaggerated in the direction of
discrepancy. If the firm raises expectations in his advertising, and then a customer’s experience
are only slightly less 94 than that promised, the product/service would be rejected as totally un-
satisfactory. Conversely, under-promising in advertising and over-delivering will cause positive
disconfirmation also to be exaggerated.
Cognitive Dissonance
Theory Cognitive dissonance is an uncomfortable feeling caused by holding two contradictory
ideas simultaneously. The theory of cognitive dissonance proposes that people have a
motivational drive to reduce dissonance by changing their attitudes, beliefs, and behaviours, or
by justifying or rationalizing them.
The phenomenon of cognitive dissonance, originally stated by Festinger in 1957, has been
quickly adopted by consumer behavior research. “Described as a psychologically uncomfortable
state that arises from the existence of contradictory (dissonant, non-fitting) relations among
cognitive elements (Festinger 1957) cognitive dissonance revealed high exploratory power in
explaining the state of discomfort buyers are often in after they made a purchase.

12. 12
Chapter- 2
COMPANY PROFILE

13. 13
COMPANY PROFILE
Introduction
Metals and Minerals Trading Corporation of India (MMTC Ltd.), is one of the two highest
earners of foreign exchange for India and India's largest public sector trading body. Not only
handling the export of primary products such as coal, iron ore, and manufactured agro and
industrial products, MMTC also imports important commodities such
as ferrous and nonferrous metals and agricultural fertilizers for industry. MMTC's diverse
trade activities cover Third Country Trade, Joint Ventures and Link Deals and all modern forms
of international trading. The Company has a vast international trade network, spanning almost in
all countries in Asia, Europe, Africa, Oceania and America also includes a wholly owned
international subsidiary in Singapore, MTPL. It is one of the Miniratnas companies.
The Company was incorporated on 26 September 1963 at New Delhi. The Corporation started
functioning on 1 October. The main objective of the company was export of mineral ores and
import of essential metals.
According to latest news, MMTC is Asia’s biggest gold and silver importer. MMTC is a leading
international trading company of India with a turnover of around Rs. 12,500 crore. MMTC is the
first Public Sector Enterprise to be accorded the status of "FIVE STAR EXPORT HOUSE" by
Government of India for long standing contribution to exports.
MMTC continues as the canalized agency for export of Iron ore, Manganese ore & Chrome ore.
MMTC is also one of the three canalizing agencies for import of urea. Presently, MMTC is one
of the nominated agencies for import of gold and silver.

14. 14
CORPORATE MISSION
As the largest trading company of India and a major trading company of Asia, MMTC aims at
improving its position further by achieving sustainable and viable growth rate through excellence
in all its activities, generating optimum profits through total satisfaction of shareholders,
customers, suppliers, employees and society.
BUSINESS VERTICAL
1.1 MINERALS DIVISION
MMTC Limited continues to play a leading role in mineral trade for a period spanning over four
decades. MMTC’s performance in mineral trade has been acknowledged by the CAPEXIL
(Chemicals and Allied Products Export Promotion Council) by conferring the nation’s highest
award for excellence in minerals exports 24th time in succession. In the last decade, MMTC
could withstand the stiff competition in the global market by its continuous and persistent efforts
in garnering new customers apart from retaining existing customers, enlarging the product range,
expanding extensively its infrastructure facilities and by attaching utmost care and importance to
its trade commitments as also the quality of service and products.

15. 15
1.2 PRECIOUS METALS, GEMS & JEWELLERY
MMTC Limited is one of India’s Premier bullion trader, handled more than 1, 74,000 Kgs of
Gold & 1165.38 MTs of Silver during 2011-12. The Precious Metals Division has consistently
contributed significant proportion of the total turnover of the Company.
MMTC is an authorized agency of the Government of India for import of gold, silver, platinum,
palladium, rough diamonds, emeralds, rubies and other semi-precious stones and supply these
items to jewelers in India for domestic sales and exports. MMTC is the custodian for import &
export of Precious cargo at SEEPZ, SEZ Mumbai.
MMTC operates in-house assaying and hallmarking unit at New Delhi, Jhandewalan Jewellery
Complex for testing purity of gold/silver and gold/silver articles.
MMTC has a medallion unit in New Delhi since 1996 for manufacturing its own brand of gold
and silver medallions. Customized requirements for corporate/institutional orders for medallions
are also serviced from here throughout the year.

16. 16
1.3 METALS AND INDUSTRIAL RAW MATERIALS
MMTC imports following metals as per LME deliverable specifications and also Non LME
grade material according to the requirements of our customers:
1. Non-Ferrous Metals: Copper [(min. 99.90% purity) in the form of Wire bars, Cathodes, CC
rods], Aluminum [(min. 99.70%) in the form of Ingots and Wire rods], Zinc Ingots [High
grade (min. 99.95%), Spl. HG (min. 99.995%)], Lead Ingots [(min. 99.97%/99.99%)], Tin
Ingots(min. 99.85% purity), Nickel [in the form of Cathodes(both Cut and Uncut of min.
99.80% purity),Briquettes(min. 99.80% purity), Ferro Nickel etc.]
2. Minor Metals : Antimony (min. 99.65% purity), Cobalt Metal (min. 99.95% purity),
Silicon (Grade 4-4-1 and 5-5-3) Magnesium (min. 99.9% purity) Mercury (min. 99.9%
purity)
3. Industrial Raw Materials : Brown Fused Alumina, White Fused Alumina, Calcined
Alumina, Calcined Bauxite, Noble metals and Ferro alloys
Non-Ferrous Metal Alloys : Aluminum alloys (ADC 12, LM 24 and others), Zinc alloys, and
other alloys as per customers requirement

17. 17
1.4 AGRO PRODUCT
MMTC Limited is a global player in the Agro trade, with its comprehensive infrastructural
expertise to handle agro products. MMTC Limited provides full logistic support from
procurement, quality control to guaranteed timely deliveries of agro products from different parts
of India through a wide network of regional and port offices in India and its contacts abroad.
The agro trade primarily depends on Govt. policies and vagaries of monsoon. At times when the
surplus agro products are available in the country, the export opportunities emerge while in the
period of shortages the agro products need to be imported. The Agro Group of the company shall
continue to pursue plans and strategies to meet the shortages of edible oils, food grains & pulses
in the country by imports and export of surplus availability of agro products like Wheat in the
country.
The group is geared up to meet the challenges stemming from wide variations in quantity/
product range available for imports/ exports besides broadening the commodity profile to ensure
future sustainability of business growth.

18. 18
1.5 FERTILIZERS
MMTC Limited has remained one of the major importers of fertilizers in India. It is engaged in
the import of finished, intermediate and raw fertilizers. MMTC handles about 3 to 4 million
tones of fertilizers. It continues to remain a trusted and reliable supplier of fertilizers to many
institutional customers in India. This has been possible owing to a reputation of trust and
reliability assiduously built by the company over four decades.
1.6 COAL AND HYDROCARBON
Coal and Hydrocarbon is identified as one of the core areas of business for MMTC and Steam
coal is identified as a thrust product for import. The coal and hydrocarbons business has achieved
a turnover of Rs 18390 million in 2004-05. The above turnover is comprised of mainly LAM
COKE, Coking Coal and steam coal.
During 2004-05 MMTC transacted a business of around 1.10 million tons of Coking Coal, 0.50
million tons of LAM COKE and 1.39 million tons of steam coal. A quantum jump both in value

19. 19
and quantity of coking coal and non-coking steam coal – total 6 million tons valued at Rs.2500
Million - is expected during 2005-06.
MMTC withstood the stiff competition due to its continuous and persistent efforts in diversifying
its markets, offering value added products and services to its existing customers, enlarging its
product range and customer base, expanding extensively its infrastructure facilities, using its
expertise in trading by attaching utmost care and importance to its trade commitments as also the
quality service and product.

20. 20
Chapter- 3
LITERATURE REVIEW

21. 21
Literature Review
Previous studies and articles are reviewed to gain insight about the topic taken for the study. A
brief review of some of the information collected from various articles, journals and websites are
given below:
Pinank Mehta1 (2002) has stated that, Gold to Indians is that ultimate love object not only does it
adorn our bodies; it also acts as a good investment. Gold is ancestral. From mother to daughter to
grand-daughter, (father to son to grandson) gold has a tendency of getting passed down from
generation to generation, so for Indians at least, gold will never lose its sheen”.
Gidwani Devika (2002) 1, she explained in her research that market for branded jewellery
especially if something is aimed at the younger generation, which wants buy fashionable real
jewellery. This is the right time to get into the market, as it has just started to take off. “The
Indian market was witnessing a rapid shift of screening jewellery from investment to artistic
appealing ornaments. The focus had shifted to design. The Indian consumer was willing to
experiment with new designs.”
Craig Symons (2004)3, he observed that the wholesaler of Breuning and Steel & Gold jewellery,
mentioned in his paper branding gives customers more confidence in their purchasing decision as
they can identify with the brand and therefore feel they’ve made a good purchase which they can
show their friends and family “This brand recognition gets retailers half the way through making
a sale before a customer even walks into their store” Therefore, perhaps not surprisingly, the
jewellery industry has finally seen the branding light and begun to harness its power to sell
jewellery.

22. 22
Mckinsey (2005)4, in his research he argued that he branded jewellery indystry is still in its
infancy, but increasing growth rates show that in a short time it will corner a significant chunk of
the market. The best compliment to the branded segment is that traditional jewellers have also
begun to design jewellery lines under a brand name.
Paul Noronha (2005)5, in her study of research work she explained that the branded jewellery
has carved a niche for itself in the tough Indian market and its increasing growth rates show that
before long it will corner a significant share of the jewellery market. DTC’s Supplier aims to
grow consumer demand for diamond jewellery in the context of the growing competitive luxury
goodssector.
Bhandari Vandana (2005)6,she observed that the branded jewellery segment occupied only a
small share of the total jewellery market because of the mindset of the average Indian buyer who
still regarded jewellery as an investment. A Furthermore, consumers have faith on only their
family jewellers while buying jewellery. Consequently, the branded jewellery players tried to
change the mindset of the people and customers with attractive designs at affordable prices.
A research conducted by Shivani Mishra (2007), reveals that 80% of jewellery is bought for
investment purposes, 90% of the customers make their jewellery purchases from their traditional
jeweller, 5-6% of merchandize is branded jewellery, and 85% of sales take place during Diwali
and Akshaya Tritiya. They also further state that the traditional family jewellers are selling
jewellery under their own brand names. They do not stock other brands and if they do, it is not
more than 5-6%.
Shanoo Bijlani, Regan Luis and Michelle Pinto (2007), state that design is the only thing that
differentiates one jeweller from the next. Design is the major deciding factor for Indian
customers. Today’s generation wants to wear jewellery that is fit-to-be-worn and not fit-for-
lockers. Retailers are finding that their customers are becoming more demanding and even small-
town retail jewellery outlets find the need to stock something special. Consequently,
manufacturers are happy that their customer base is broadening.

23. 23
The study titled, “Indian Jewellery Retail-An Impressive Phenomenon” by Daisy Tanwani
(2007) points out that the three basic but most important factors for success in jewellery retail
stores are stock and range, ambience and service. Daisy Tanwani also states in her report that the
traditional jeweller has now recognized the need of branding and superior services and that the
customer is accorded utmost respect and is pampered with comfortable shopping and better
services.
Shikha Saroj (2008)7, she observed that more than even before the Indian consumer is lining up
to buy branded jewellery that makes a fashion statement or expresses her individuality. Jewellery
has become a passion. People earn for the contemporary designs at great prices. The concept of
branded jewellery has therefore taken a full swing in India. The competition of innovating
something new keeps on, flooding the market place with fine and fresh designs. Here there are a
few premium lifestyle brands that promise to offer high quality at great prices. Osja!g’s
(2009)B8,concluded in his research that consumers a certain degree of confidence that they are
buying a genuine product, Branded jewellery has arrived and earned its place on World
jewellery retail shelves. Indeed the question is,”To brand or not to brand?” but more simply,
“Which brand?”
Baranwa Shashank (2009)9, told in his study that the industry of jewellery has boomed in the
past few years due to the increased demand of fashionable jewellery. The export and
import of jewellery has also improved. The players and their brand positioning: The Gitanjali
Group is one of the largest and fully integrated diamond and jewellery manufacturing and
retailing.
M.lakshmi and Suganya.S (2009)10, in their study explores that Indian jewellery sector should
focus on developing brands that stand for quality and transparency. The brands are gaining more
popularity and customers are expecting more and more transparency apart from the choice to
choose from various variety of design.
Ekanayake, Shynmalie and Dhamika Abeysinghe29 (2010) observed that the gems and jewellery
industry in Sri Lanka has been capable enough to develop a competitive product base but has
been positioned to experience a reduction in market value. This reduction has resulted in the
disintegration of the industry value system, forcing the firms to work in isolation. They stated

24. 24
that the industry value system is handled by private sector entrepreneurship without state
interference.
Kala, Alok30 (2010) reported that gems and jewellery industry has registered a 16 per cent
increase in the total gems and jewellery exports in 2009-10. The industry contributes 13 per cent
to India’s total merchandise exports. The figure stated that India’s diamond share in world
market witnessed an increase from 60 to 70 per cent in value terms. The USA remained India’s
largest consumer of jewellery. He stated that Indian diamond industry has now come out of
recession.
Akshay Verma (2010)5 has stated that, “The introduction of universally accepted quality
standards like hallmarking and diamond certification has overhauled buyers perception towards
jewellery. Consumers are of late becoming quality conscious rather than discount –conscious.
Therefore, quality is becoming the key criterion for purchasing jewellery, and not discount”.
Rutam Vora6 (2010) has pointed out that jewellery companies have now recognized the true
buying power of precious jewellery in rural and semi –urban areas and have started targeting
them with caution of trust and mutual relationship. However, it would probably take generations
for rural community to change their priority from the local, traditional jeweller to the national
organized corporate.
Research on Indian Gems and jewellery sector by CARE (2011) reveals that family owned
business will move towards greater degree of professionalism and trust on the neighborhood
jeweller will be replaced by the hallmarking and certification of jewellery.
K. Venkateswara Raju (2013) told in his paper that the guiding factor behind purchasing
jewellery is price, purity and design which score the maximum. Other factors are variety, the
brand image, influence of family and friends. The jewellery bought from this jewellers was
considered to be pure and a good investment.

25. 25
Naresh Kumar (2013)32 states in his article that the Indian gem and jewellery export industry
had its modern beginning in the 1960s and after that the sector never looked back. Gems and
jewellery exports accounted for 16.44 per cent of India’s total exports in 2009-2010. The
industry provides employment to around 3.2 to 3.4 million people directly. The sector witnessed
a CAGR of 16.59 per cent of India’s exports of gems and jewellery during the period 1990-91 to
2009-10. However, gems and jewellery sector is facing various problems such as dependence on
imports, changing fashion, imbalance growth of products, manual way of crafting, various
problems regarding labourers, financial problems, procedural hardships and unemployment etc.
Even after these problems the future of Indian gems and jewellery industry is quite promising, as
more and more buyers across the world are turning to India as for their referred source of the
quality of gems and jewellery products.
Salaskar Sakhale Vandana (2013) 45 states that Business is not a technical concept but it’s a
mental concept based on patience,continuous struggling, creativity and spontaneous process.
Though Marathi man is steady in his efforts, hard working, self respected, sticked to principles
but then also he could not succeed much in business and it’s only because of lack of team spirit.
The die makers from panchal community however made a very good progress in middle age. But
due to lack of education and some sort of financial stability in middle age could not proceed with
the time, the result of which are being seen now. The die makers lacks proper training and
professionalism due to which they could not observe the trend of the business and could not
bring the changes in the business best suited to the present time. She also highlight the need of
41 | P a g e accelerating the efforts at Govt. level to crate the business atmosphere giving
encouragement to small entrepreneurs in Maharashtra.
Aarti Deveshwar and Rajesh Kumari (2014) analyzed women’s behavior towards branded
jewellery in India and have stated that Indian women’s behavior are affected by a number of
factors as quality, durability, design, variety, purity, reliability, comfort ability to wear,
uniqueness, price, discounts, credit facility, advertising special gifts and special gifts and special
offers, warranty period, resale value, after sales services, popularity of retail outlets, ambience
and services provided in the store, occasions, friends and relatives’ influence, trust in jewelers,

26. 26
brand name popularity and fashion. They buy jewellery for many purposes as investment,
festivals, fashion, status, and gift. Women purchase Jewellery at various occasions as wedding,
anniversary, birthday, baby birth, New Year, festivals, house warming, and bonus/sudden
financial gain.
Alok Kala (2014) in his study entitled “Diamond world” stated that Jaipur offers great potential
in the gem and jewellery industry. These gems and jewellery are in great demand in India and
worldwide. Jaipur exports a wide collection of gold, platinum and studded jewellery. The author
stated that the jewellery market in Sitapur alone accounts for turnover of Rs 450 crore, which
includes Rs 300 crore of the exports.
Shah Vipul (2015) in his study entitled “Change in Leadership of Gem and jewellery” stated that
as the branded jewellery market came into trend, the number of gold retailers in the country
increased sharply. Branded players such as Tanishq, Oyzterbay, D’Damas, Gili and Carbon
opened outlets in various parts of the country. Traditional jewelers also began to bring out
lightweight jewellery, and some of them even launched their in-house brands. However, the
share of branded jewellery in the total jewellery market is still small (about Rs. 10 billion of the
Rs. 400 billion per annum jewellery market in 2002), though growing at a pace of 20 to 30
percent annually.
Zaveri Samrat (2015) in his study entitled “Branded & Gold jewellery market in India” found
that since the late 1990s, there was a shift in consumer demand and as a result women were
increasingly opting for fashionable and lightweight jewellery instead of traditional chunky
jewellery. There was a rise in demand for lightweight jewellery, especially for consumers in the
16 to 25 age group, who regarded jewellery as an accessory and not an investment. Jewellers
should understand the shifting needs, motivations and aspirations of consumers in the jewellery
market, and to identify new trends and opportunities.

27. 27
Chapter- 4
RESEARCH OBJECTIVES AND
HYPOTHESIS

28. 28
Research Objectives and Hypothesis
1.1 Objectives
The objective to conduct the research on the study of customer satisfaction in context to MMTC
and other precious metals jewellery are:
 To measure the level of customer’s satisfaction of MMTC Limited.
 To study the consumer perception towards purchase of jewellery.
 To study the Brand awareness of MMTC among customers.
1.2 Hypothesis
1st
Hypothesis:
H0: There is sig. relationship between occupation of people and their buying behavior of jewelry.
H1: There is sig. no. relationship between occupation of people and their buying behavior of
jewelry.
2nd Hypothesis:
H0: There is sig. between purchasing pattern and their religion.
H1: There is no sig. between purchasing pattern and their religion

29. 29
Chapter- 5
RESEARCH METHODOLOGY

30. 30
Research Methodology
Researchdesign
A research design according to Andrew B kirumbi (2018) is the set of methods and procedures
used in collecting and analyzing measures of the variables specified in the research
problem research. The design of a study defines the study type (descriptive, correlation, semi-
experimental, experimental, review, meta-analytic) and sub-type (e.g., descriptive-
longitudinal case study, research problem, hypotheses, independent and dependent
variables, experimental design, and, if applicable, data collection methods and a statistical
analysis plan.
The study is purely descriptive in nature which narrates the current and past performance of
Indian Jewellery Market and the level of customer satisfaction toward precious metal products at
MMTC. The study primarily relies on by with extensive use of both primary and secondary data.
Data collection
Primary data collection
The data are collected directly by the researcher for the first time is called as Primary Data. It is
original in nature and is specific to a research problem under study.
Method used:
Delphi Technique: It is a forecasting technique wherein the researcher elicits the information
from the panel of experts either personally or through a questionnaire sent through the mail.
Here, each expert in his respective field is asked to give their opinions on the problem concerned
and the consolidated view of all is used to reach for the most accurate answer.

31. 31
Questionnaire Method: Questionnaire is the most evident method of data collection, which is
comprised of a set of questions related to the research problem. This method is very convenient
in case the data are to be collected from the diverse population. It mainly includes the printed set
of questions, either open-ended or closed-ended, which the respondents are required to answer
on the basis of their knowledge and experience with the issue concerned.
Secondary data collection
The data are collected by someone else for a purpose other than the researcher’s current project
and has already undergone the statistical analysis is called as Secondary Data. The researcher
can obtain data from the sources both internal and external to the organization. The internal
sources of secondary data are:
 Customer details, like name, age, contact details, etc.
 Company information
 Reports and feedback from a dealer, retailer, and distributor
There are several external sources from where the secondary data can be collected. These are:
 Information from other government departments, like social security, tax records, etc.
 Business journals
 Social Books
 Business magazines
 Libraries
 Internet, where wide knowledge about different areas is easily available.

32. 32
Chapter- 6
DATA ANALYSIS AND
INTERPRETATION OF FINDIND

33. 33
DATA ANALYSIS
This chapter is divided into two parts first is hypothesis testing and graphical
representation.
1) Hypothesis testing is done with the help of SSPS tools.
2) Graphical representation is done with help of Google forms.
SSPS Analysis
Hypotheses 1
H0: There is significant. relationship between occupation of people and their buying behavior of
jewelry.
H1: There is no significant relationship between occupation of people and their buying behavior
of jewelry.
Case Processing Summary
Cases
Valid Missing Total
N Percent N Percent N Percent
occupation *
behavior
125 100.0% 0 0.0% 125 100.0%

34. 34
occupation * behavior Cross tabulation
Count
behavior Total
1.00 2.00 3.00 4.00 5.00
Occupa
tion
1.00 0 0 3 1 1 5
2.00 0 2 9 6 0 17
3.00 4 4 16 9 0 33
4.00 2 3 10 5 0 20
5.00 0 1 27 22 0 50
Total 6 10 65 43 1 125
Chi-Square Tests
Value df Asymp. Sig. (2-sided)
Pearson Chi-Square 39.987a 16 .001
Likelihood Ratio 25.528 16 .061
Linear-by-Linear
Association
1.429 1 .232
N of Valid Cases 125
a. 17 cells (68.0%) have expected count less than 5. The minimum expected
count is .04.
Interpretation: With the help of chi square table, Pearson chi square cake has been found,
that is worth the help of P value it can be identified that there is any relationship given two
variables or not. Here p value is .001 which is less than .05 so that it can be concluded that
alternative hypothesis is accepted and it can be said that there is no relationship between
occupation of people and their buying behavior of jewellery.

35. 35
Hypotheses 2
H0: There is sig. between purchasing pattern and their religion.
H1: There is no sig. between purchasing pattern and their religion
T-Test
One-Sample Statistics
N Mean Std. Deviation Std. Error Mean
Religion
125 1.4880 .72530 .06487
past
purchase
125 1.8000 .65991 .05902
One-Sample Test
Test Value = 0
t df Sig. (2-tailed) Mean Difference 95% Confidence Interval of the
Difference
Lower Upper
Religion 22.937 124 .000 1.48800 1.3596 1.6164
pastpurchase 30.496 124 .000 1.80000 1.6832 1.9168
Interpretation: As the significance value of levene's test is .000 which is less than .05 the
significant value of T test is 1.6164which is greater than .05 hence null hypotheses accepted.
This says that there is significance between purchasing pattern and their religion

36. 36
Interpretation of Findings
1) Gender
Interpretation: According to the data collected 67.7% female and 32.3% male go for
purchase of jewellery.
2) Age
Interpretation: According to the data collected around 5.8% people lined between 15-25
age, 22.6% between 26-35age, 42.7% between 36-45 age and 29% are of 45 ages and above.

37. 37
3) Religion
Interpretation: According to the data collected 64% Hindu, 21% Muslim and 13.7%
Christian. NOTE: In this survey other religions have not filled any questionnaire.
4) Occupation
Interpretation: According to the data collected 39.2% housewife, 16% business, 26.4%
professional , 13.6% employees and some students are there is sampling.

38. 38
5) How often you buy jewelry?
Interpretation: According to the date collected 34.4% during festival & function,
52% occasionally, 8% yearly some monthly and some never buy often jewelry.
6) For whom do you typically buy jewelry for?
Interpretation: According to the data collected people typically buy jewelry for 69.4%
gifting, 63.7% family, 38.7% spouse, 37.9% for themselves.

39. 39
7) Do you buy more than one item of jewelry?
Interpretation: According to the data collected 43.1% buy more than one item of
jewelry, 35% don’t buy more than one item of jewelry and 22% are not confirmed
about this (may be).
8) What jewelry items/ pieces do you generally purchase?
Interpretation: According to the data collected 46.4% buy ring, 72.8% buy necklace, 46.4%
buy bracelet, 65.6% buy earring.

40. 40
9) How much do you generally spend on each purchase?
Interpretation: According to the data collected 45.6% people spend Rs.1,00,000
and above, 34.4% spend Rs. 50,000 and more, 16% spend 20,000 and more and
4% spend Rs. 10,000 and more.
10) Have you purchased any jewelry within the past 3 months?
Interpretation: According to the data collected 33.6% say yes, 52.8% say no and
13.6% say may be on the past 3 months jewelry purchase.

41. 41
11) How often do you wear jewelry?
Interpretation: According to the data collected 44.8% every day, 35.2% once or twice a
week, 17.6% special occasion only and some never wear jewelry.
12) What type of jewelry are you MOST interested in?
Interpretation: According to the data collected 23.2% gemstone, 43.2% silver jewelry,
85.6% gold jewelry, 58.4% diamond jewelry, 8% coins and bullion people are most interested.

42. 42
13) Do you prefer shopping online or in store?
Interpretation: According to the data collected 86.4% people prefer to buy from store and
13.6% people prefer to buy online.
14) What form of advertising do you trust most when looking for a
jewellery store?
Interpretation: According to the data 30.4% newspaper, 64.8% TV advertisement, 80%
mouth of words, 17.6% internet. Trust on most when looking for a jewelry store.

43. 43
15) What services do you look for in a jewellery store? Please choose all
that apply.
Interpretation: 41.6% looks for in house jewelry, 52.8% for gold and silver trade-in, 72% for
custom jewelry design, 59.2% knowledgeable staff, 4.8% for outlet facility and services.
16) How do you prefer to pay?
Interpretation: According to the data collected 16% prefer to pay in cash, 42.4% in cheque,
50.4% in bank transfer, 52% in online payment and 73.6% in credit or debit card.

44. 44
17) How do you come to know about MMTC?
Interpretation: According to the data collected 47.2% from relatives/family, 245 social
media, 17.6% employees and some from website came to know about MMTC.
18) Why you make your purchase at MMTC?
Interpretation: According to the data collected 63.7% buy because of reliability in quality
and purity, 69.4% for brand loyalty, 38.7% for wide range and pattern, 25% for prices at MMTC.

45. 45
19) Are you a frequent buyer from MMTC?
Interpretation: According to the data collected 53.6% are frequent buyer, 36% are not
frequent buyer, 10.4% are not confirmed (may be) at MMTC.
20) Which brand do you prefer other than MMTC?
Interpretation: According to the data collected 35.2% prefer Tanishq, 28% prefer Nakshatra,
22.4% prefer D’damas, 8% Nirvana and some prefer Gilli and P.C jewelers.

46. 46
Chapter- 7
CONCLUSION

47. 47
Conclusion
In spite of the above problems the present clients are willing to continue with MMTC hoping that
things will improve, moreover they are assured of the quality been sold by MMTC. Nevertheless
an improvement measure has to be taken at the earliest if MMTC wants to survive in this
competitive world.
In order to consolidate its position further, MMTC can go for futures and forward contracts to
hedge against price fluctuations, backward integration by importing gold, ore and concentrates,
focus on sales of silverware and medallions under franchise concepts, open new bullion centers,
expand supply base, offer value addition and increase customer focus.
To achieve the export target of US $ 16 billion by 2020, the gems and jewellery industry needs
to diversify, strengthen R&D, lay emphasis on diamond-studded jewellery, develop
internationally accepted designs, participate in more trade fairs both within and abroad, use more
of semi-automatic machines for reducing the wastage, strengthen the infrastructure with regard
to fashion forecast and design innovation, and conduct market surveys in the potential markets
by specialized institutions such as Indian Institute of Foreign Trade. Besides, it needs to keep an
eye on the developments taking place in China, which is a serious threat to the Indian industry
because of its large manpower.

48. 48
Chapter- 8
SUGGESTION AND RECOMMENDATION

49. 49
Suggestion and Recommendation
Product Offering-
 Increase wide range of designs and products as per fashion statement
 People spend thousands of rupees on artificial jewellery. MMTC can provide them good
alternative in the form of daily wear and affordable jewellery with differentiated look.
Pricing Strategies-
 Pricing needs to be revised as per the competitors
 The brand should offer discounts to attract the customers
 Making charges can be reduced by substantial percentage to pass the benefit to the
customers
Physical Presence-
 MMTC should increase its outlets and extend its network of operations.
Promotional Activities-
Brand should lay its focus on aggressive promotional activities like:
 Advertisement in Cinema Halls, Restaurants, Food Courts, Clubs, at Metro Stations
through Banners, Posters, TV advertisements etc.
 Provide Coupons/Vouchers through contests on Radio
 Provide Vouchers to people through Contests in Shopping Malls by setting up Kiosk in
the mall.
 Creating an Android Application for creating awareness among people.
 Online promotion of the brand and its products through sites like FB, twitter etc.
 It should provide lucrative schemes to position itself in the market.

50. 50
Bibliography
1. Oliver, R. (1980). “Theoretical Bases of Consumer Satisfaction Research: Review,
critique, and future direction. In C. Lamb & P. Dunne (Eds), Theoretical Developments
in Marketing (pp.206-210). Chicago: American Marketing Association.
2. Adee Athiyaman (2004). “Antecedents and Consequences of Student Satisfaction with
University Services: A Longitudinal Analysis”, Academy of Marketing Studies Journal,
January.
3. Anderson, R.E. (1973). “Consumer dissatisfaction: The effect of disconfirmed
expectancy on Perceived Product Performance”, Journal of Marketing Research, 10
February: 38-44.
4. http://mmtclimited.com/
5. communitydoor.org.au/quality-assurance/customer-satisfaction-literature-review
6. communitydoor.org.au/quality-assurance/customer-satisfaction-literature-review

51. 51
Appendix
Questionnaire: Survey on Customer Satisfaction
Customer satisfaction toward MMTC Limited precious metal products
1) Gender
Male
Female
2) Age
15-25
26-35
36-45
45+
3) Religion
Hindu
Muslim
Christian
Other
4) Occupation
Student
Employee
Profession
Business
Housewife

52. 52
5) How often you buy jewelry?
Monthly
Yearly
Occasionally
During festival & function
Other
6) For whom do you typically buy jewelry for?
Yourself
Spouse
Family
Gifting
7) Do you buy more than one item of jewelry?
Yes
No
May be
8) What jewelry items/ pieces do you generally purchase?
Ring
Necklace
Earring
Bracelets
Other
9) How much do you generally spend on each purchase?
Rs. 10,000
Rs. 20,000
Rs. 50,000
Rs. 1,00,000

53. 53
10) Have you purchased any jewelry within the past 3 months?
Yes
No
May be
11) How often do you wear jewelry?
Every day
Once or twice a week
Special occasion
Never
12) What type of jewelry are you MOST interested in?
Gemstone
Sliver jewelry
Gold jewelry
Diamond jewelry
Coins and billions
13) Do you prefer shopping online or in store?
Store
Online
14) What form of advertising do you trust most when looking for a jewellery store?
Newspaper
TV advertisement
Mouth of word
Internet
Other

54. 54
15) What services do you look for in a jewellery store? Please choose all that apply.
In house jewellery (for repairing or in house customization)
Gold and silver trade-in
Custom jewelry design
Knowledgeable staff
Outlet facility and services
16) How do you prefer to pay?
Cash
Cheque
Bank transfer
Online payment
Credit and debit card
Other
17) How do you come to know about MMTC?
Advertisement (newspaper and magazines)
Relatives/family
Social media
Website
Other
18) Why you make your purchase at MMTC?
Reliability in quality and purity
Brand loyalty
Wide range and pattern
Pricing
Other

55. 55
19) Are you a frequent buyer from MMTC?
Yes
No
May be
20) Which brand do you prefer other than MMTC?
Tanishq jewelers
Nakshatra jewelers
D’ damas jewelers
Nirvana jewelers
Gilli jewelers
Other
21) Which of the following categories best describes your last experience purchasing jewelry
at MMTC? Would you say that your experience was:
Very satisfied
Somewhat satisfied
Neutral
Somewhat dissatisfied
Very dissatisfied