This document discusses consumer preferences between branded and non-branded jewelry in India. It provides background on India's historical relationship with jewelry and its cultural significance. Currently, the jewelry industry in India is transitioning from unorganized to organized retail formats. Organized retailers are targeting younger, educated working women and introducing international trends and standardized practices. However, the organized retail segment still accounts for only 2-3% of the total jewelry market. The study aims to understand consumers' preferences and the factors that influence their purchasing decisions between branded and non-branded options.
“Indians have always been connoisseurs of precious stones and ornaments. Trade secrets of the jewellery business have been handed down over generations, ensuring continuity of traditional craft. Thus, India is today the world’s largest diamond cutting and polishing centre.India has been adding modern techniques to its traditional know how that are more in tune with global market trends. Several well-organised polishing units have been established to improve productivity and meet growing international demand. The presentation takes a journey into the sector keenly analyzing the sector while doing its SWOT analysis.
introduction,Vision and mission statement CEO of Tanishq Logo and their punch line Segmentation Positioning SWOT Analysis Ansoff’s Model 7ps PLC Questionnare
“Indians have always been connoisseurs of precious stones and ornaments. Trade secrets of the jewellery business have been handed down over generations, ensuring continuity of traditional craft. Thus, India is today the world’s largest diamond cutting and polishing centre.India has been adding modern techniques to its traditional know how that are more in tune with global market trends. Several well-organised polishing units have been established to improve productivity and meet growing international demand. The presentation takes a journey into the sector keenly analyzing the sector while doing its SWOT analysis.
introduction,Vision and mission statement CEO of Tanishq Logo and their punch line Segmentation Positioning SWOT Analysis Ansoff’s Model 7ps PLC Questionnare
Consumer Buying Behaviour towards the Gold Jwellery specilly in Jaipur Cityprofessionalpanorama
The main purpose of conducting this research is to study the preference to the buying
jewellery with special reference to Jaipur city. The objective of the study is to get
insight about the consumer buying behaviour and factor influencing it such as cultural,
social, economic factors and brand awareness etc. while purchasing of gold jewellery
at various jewellery retail stores at Jaipur city. The primary data was collected through
questionnaire and personal contact from around 200 customers mainly from the top
jewellery retail stores like Birdichand Ghanshyamdas Jewellers, Tanisq, Kalaji, Surana
Jewellers, JKJ Jewellers. Data collected and analysed using simple percentage
method,Chi-square and ranking method. The study was restricted only to Jaipur city
and some of the customer were not serious in their responses therefore result can
not be generalised. The study helps jewellery retail stores to understand about the
buying behaviour of customer towards jewellery.
keywords: Buying Behaviour, Branded, Jewellery.
Consumer buying behaviour towards the gold jewellery speciall in jaipur cityTapasya123
The main purpose of conducting this research is to study the preference to the buying
jewellery with special reference to Jaipur city. The objective of the study is to get
insight about the consumer buying behaviour and factor influencing it such as cultural,
social, economic factors and brand awareness etc. while purchasing of gold jewellery
at various jewellery retail stores at Jaipur city. The primary data was collected through
questionnaire and personal contact from around 200 customers mainly from the top
jewellery retail stores like Birdichand Ghanshyamdas Jewellers, Tanisq, Kalaji, Surana
Jewellers, JKJ Jewellers. Data collected and analysed using simple percentage
method,Chi-square and ranking method. The study was restricted only to Jaipur city
and some of the customer were not serious in their responses therefore result can
not be generalised. The study helps jewellery retail stores to understand about the
buying behaviour of customer towards jewellery.
Comparative study of shopping behavior (attitude) towards local versus foreig...Sheryl Mehra
This study was conducted in order to determine the consumer preferences of global brands instead of local ones. It is also designed to find out the buying behavior patterns of young and middle aged consumers.
When we think about refreshment, the first thing that comes to our mind is coffee or tea. Most people prefer coffee and most prefer tea and these two drinks have become a part of a human being’s life.
Here we (I) have concentrated on coffee which is considered as a traditional drinks especially in south India. People here start their everyday life with a cup of coffee. Not only in south India but in all parts of the world people are so dependent and addicted to coffee that it acts as a daily schedule to every body every where. But this coffee is not grown in all parts of the world but is grown in very few places with right kind or weather, atmosphere and most important of all, the soil of that region.
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The sugar industry occupies a major portion in the (organization) industries of India. The sugar industries have rank second next to cotton and textile industries. The sugar industry started since 1830. China is the first producer of sugar in the world. It provides highest direct employment opportunities.
The sugar industry is one of the important Ago-based industry of the country India is the fourth major sugar production in the world. The first three is Russia, Brazil and Cuba. Sugar industry provides direct employment to nearly 3lakh persons this industry supports about 25 million agriculturists. It pay’s both to the central government and the state government about Rs.350 crores by way of different taxes. The capital employed in the industry is of the order of Rs.780 crores. There are about 414 mills producing sugar, which are spread all over the country.
When we think about refreshment, the first thing that comes to our mind is coffee or tea. Most people prefer coffee and most prefer tea and these two drinks have become a part of a human being’s life.
Here we (I) have concentrated on coffee which is considered as a traditional drinks especially in south India. People here start their everyday life with a cup of coffee. Not only in south India but in all parts of the world people are so dependent and addicted to coffee that it acts as a daily schedule to every body every where. But this coffee is not grown in all parts of the world but is grown in very few places with right kind or weather, atmosphere and most important of all, the soil of that region. It is usually grown in hill stations with adequate amount of rainfall and such places which are high above sea level. Therefore in India, Karnataka is such a place, especially South Karnataka which produces the highest amount of coffee in whole India. Most parts of Karnataka such as Chikmagalur district and many parts in Hassan District, and also Coorg.
A Study on Sugar Industry at Chamundeshwari SugarProjects Kart
The discovery of sugarcane from which sugar was produced had been known since thousands of years. It is thought to have originated in New Guinea, and was spread along routes to Southeast Asia and India. The process known for creation of sugar, by pressing out the juice and then boiling it into crystals, was developed in India around 500 BC.
Its cultivation was not introduced into Europe until the middle-ages, when it was brought to Spain by Arabs to thrive in a most favorable climate.
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Inventory is a list of goods and materials, or those goods and materials themselves, held available in stock by a business. Inventory management is primarily about specifying the size and placement of stocked goods. Inventory management is required at different locations within a facility or within multiple locations of a supply network to protect the regular and planned course of production against the random disturbance of running out of materials or goods. The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting.
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The prime objective of any business is to maximize the value of the company and to maximize the wealth of its shareholders. Working capital management has its own role to play in attaining this goal. Working capital is the funds required for day to day working in a business concern. The working capital management involves deciding upon the amount and composition of current assets and how to finance those assets. There should be a proper trade off between risk and profitability in each decision relating to it. This project work has been undertaken to know the procedures involved in the working capital management in PUNJAB NATIONAL BANK. An attempt is made to study the factors contributing towards working capital and the sources on which the company is depending for funds. The research study was also conducted to derive working capital ratios, to know the performance and efficiency of working capital management and to know the kind of policy adopted in this part of the management. For analyzing the factors and conditions influencing working capital tables and graphs were drawn based on the study. pubjab national bank mba project, summer internship 2017, project reprot, punjab national bank pdf, risk, project report pdf, project report, customer satisfaction in punjab national bank
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Mutual funds have become a hot favorite of millions of people all over the world. The driving force of mutual fund is the ‘safety of the principal’ guaranteed, plus the added advantage of capital appreciation together with the income earned in the form of interest or dividend. People prefer Mutual Funds to bank deposits, life insurance and even bond because with a little money, they can get into the investment game. One can own string blue chips like ITC, TISCO, Reliance etc., through mutual funds. Thus, mutual funds act as a gateway to enter into big companies hitherto inaccessible to an ordinary investor with his small investment.
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Retailing consists of those business activities involved in the sale of goods and services to consumers for their personal, family, or household use. Retailing comprises of four elements customer orientation, coordinated effort, value-driven, and goal orientation. The word "Retail" originates from a French-Italian word. Retailer-someone who cuts off or sheds a small piece from something. Retailing is the set of activities that markets products or services to final consumers for their own personal or household use. It does this by organizing their availability on a relatively large scale and supplying them to customers on a relatively small scale. Retailer is a Person or Agent or Agency or Company or Organization who is instrumental in reaching the Goods or Merchandise or Services to the End User or Ultimate Consumer.
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This report, as the Title “Initial Public Offers and Due Diligence: The Role of a Investment Banker”, is an attempt to bring forth the importance of the process of Due Diligence and the significance of the vital role played by the Investment Banker in managing the issue of an Initial Public Offer (IPO).
When a Company issues an IPO, it means it is going public. The issue of an IPO introduces a great degree of transparency in a Company‟s operations. All the relevant and updated information pertaining to the company is laid down before the investors so that they may make an investment decision. Again, there are set procedures, rules, regulations and laws to be followed in laying down this information before the investors. A document called the Prospectus‟ must be prepared. The Prospectus captures all the necessary information that is to be made available to the investors. Apart from the Prospectus, there are various other company documents that need to be verified and summarized in order to present them before the investors.
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Globalization has opened the door for the investors to avail various investment avenues across the globe. American Depository Receipt (ADR) is one such opportunity to the investing community. The ADR is a proxy for the Indian shares to enable them to be traded in the American stock exchanges. Various studies conducted on Depository Receipts (DRs) have shown that the trading on the DR sin the foreign market has its influence in the home country’s stock in terms of price, volatility and volume. This interested me and this project is concerned about studying “Whether the price fluctuations of ADR affect the corresponding Indian share prices?”
After the liberalization of the economy in 1991, the corporatist started sourcing their capital from both domestic and foreign markets. The Indian shares cannot be directly listed in the American stock exchanges. ADRs have been very helpful in this purpose. So a custodian bank receives the shares as deposit and issues receipt to the market. These receipts are issued in appropriate ratio to the shares deposited with the depository. The market players in the stock exchanges trade these receipts.
Impact of ERP on Organizational Functions in Retail SectorProjects Kart
The business environment has changed more in the last five years than it did in the previous five decades. Winning in today’s business climate requires more than just providing high-quality, low-cost products to customers, when and how the customers want them. The ability to respond to new customer needs and seize market opportunities as they arise, without compromising on the profitability of the firm is critical for the success of any organization. Competitive pressures frequently force manufacturers to decrease prices in spite of the fact that their internal costs continue to rise. Enterprises are continuously striving to improve themselves in the areas of quality, time to market, customer satisfaction, performance and profitability. Making informed business decisions in this manner would enable organizations to accomplish their business growth and at the same time enable them to utilize the information to competitive advantage. To make it possible for the companies to execute this vision, there is a need for an infrastructure that will provide information across all functions and locations within the organization and this is the Enterprise Resource Planning (ERP) solution available in the market today.
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The approach used in this report is a case study approach. It essentially deals with two aspects; creativity and WOW factor. These two terms have been defined and the impact they have in advertising has been studied. The objectives of doing such a study were to understand creativity, to define it and to find factors that elicit a WOW response from viewers.
Impact of Advertisements on Investors at HDFC Standard Life InsuranceProjects Kart
This project is managing study on “Impact of advertisement on Investors – A case study in HDFC Standard Life Insurance” The scope of study is regarding the advertisements and therefore the presence of HDFC SLIC with relation to in door advertisements and their advertisements & their effectiveness & out door advertisements, however the folks wish to watch them. to understand the notice within the public like better to watch the ads and medium.
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The consumer durable market in India has been very competitive in the recent years, with opening up of market for international players due to liberalization; the domestic players are facing a tough competition. So it‟s time for domestic companies to frame new strategies for their production and marketing activities. An evaluation of the effectiveness of the past activities of a company will enable the company in framing these new strategies. Such an effort has been made through this market research to know the http://www.projectskart.com/ on Customers in TATA MOTORS (A case study in AUTO MATRIX, HASSAN).
Recruitment and Selection at Aviva Life InsuranceProjects Kart
The MBA project titled “RECRUITMENT AND SELECTION” Undertaken in AVIVA life insurance.
AVIVA is a UK based insurance group. It has a long history dating back to 1834 and has a joint venture with DABUR groups. Aviva holds a 26 per cent stake in the joint venture and the Dabur group holds the balance 74 per cent share.
It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world.
The project report is about recruitment and selection process that‟s an important part of any organization. Which is considered as a necessary asset of a company? In fact, recruitment and selection gives a home ground to the organization acumen that is needed for proper functioning of the organization.
Financial Freedom through Reverse MortgageProjects Kart
The world population structure shows that population worldwide is ageing owing to exaggerated longevity of older folks and small birth rates in developed and most developing countries. Visit www.projectskart.com for more information. In Asian nation alone, statistics show that variety of older as a proportion of population can show a 107% growth, from 113 million in 2016 and 179 million by 2026 severally.
Financial Analysis on Recession Period at M&M TractorsProjects Kart
Financial ANalysis (also stated as financial plan analysis or accounting analysis) refers to an assessment of the viability, stability and profitable of a business, sub-business or project. Visit www.projectskart.com for more information. It is performed by professionals World Health Organization prepare reports exploitation ratios that create use of data taken from monetary statements and different reports. These reports area unit typically given to prime management mutually of their bases in creating business selections.
Effective Supply Chain Management as a Strategic AdvantageProjects Kart
TSS was established in 1913 and since then it has been in Sirsi. The products have got their own brand image and also customers. Based on the service provided by TSS to its customers we can know how the organization considers its customers and its products to the customers. A study Effective supply chain management as a strategic advantage at TSS is undertaken for assessing the supply towards the customers and to understand the expectations of the customers towards arecanut and its products which will in turn help to take appropriate action by the management for removing the loop holes.
Brand Awareness of Spencer's and Comparative Analysis with Big BazaarProjects Kart
By 2004 the retail industry was growing rapidly in India, and Spencer's Retail decided to pursue an aggressive expansion strategy. The company had the customers, the products, and the employees to make it happen. It just needed an IT infrastructure that could support rapid growth. Visit http://www.projectskart.com/p/contact-us.html for more information. Current servers were at capacity, and the company needed to upgrade before adding new stores. Amit Mukerjee, Group CIO of the RPG Group, describes the challenge as part of the learning curve for retail development in India. ―Retailing is a new business in this country. As the business matures, the process matures, and IT systems must evolve accordingly. The company also needed an enterprise resource planning (ERP) solution to handle critical processes such as supply-chain management. It decided to implement mySAP ERP, now called SAP ERP, and realized the solution needed to run on high-performance servers. Spencer's Retail evaluated several possibilities, including servers from HP, IBM, and Sun Microsystems. It decided to build its IT infrastructure on Sun systems for several reasons. Sun SPARC Enterprise Servers had the performance and scalability needed to sustain its business, and they delivered higher performance at less cost. Sun's knowledge of the retail space in India, as well as its long history with RGP Enterprises, were also deciding factors.
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Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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2. CERTIFICATE OF COMPLETION
This is to certify that the research project entitled "Consumer’s preference
among the branded and non branded jewellery “has been submitted by
Group number, MBA- HR (2010 – 2012)
This report is the result of their own work and to the best of their knowledge, no
part of it has earlier comprised any other report, monograph, dissertation or book.
This project was carried out under our overall guidance.
Signature of Faculty Guide
Date
Place
2
3. CONTENTS
aCKNOWLEDGEMENT......................................................................................................................................4
OBJECTIVE OF STUDY.......................................................................................................................................5
DESCRIPTION PROBLEM.................................................................................................................................6
significance of the study...................................................................................................................................7
introduction..........................................................................................................................................................8
research methodology....................................................................................................................................21
Data analysis......................................................................................................................................................21
Conclusion...........................................................................................................................................................34
RECOMMENDATION.......................................................................................................................................35
literary review...................................................................................................................................................36
bibliography.......................................................................................................................................................40
QUESTIONNAIRE..............................................................................................................................................41
3
4. ACKNOWLEDGEMENT
A study such as this cannot be the work of a single group of six people. I hereby
express deep gratitude to all those who have helped us directly or indirectly in
completing this work and who have encouraged and inspired us all through the
project.
Words are inadequate to express our deep sentiments and gratitude towards my
project mentor and guide, …………………., for her zeal and scholarly
guidance during this pursuit in spite of her multifarious responsibilities. The
word of acknowledgement is an expression of heart-felt thankfulness for her
inspiration.
Finally, we would like to thank the people who have taken time off from their
busy schedule to help by providing us with their valuable inputs.
4
5. OBJECTIVE OF STUDY
The objective to study the “A comparative study on the consumer’s preference among
Branded and non branded jewellery” is to find out:
1) To compare between the consumer preference among the branded and non branded
jewellery.
2) To know consumer perception towards jewellery.
3) Brand awareness of various brands in the jewelery market.
4) To have an idea about the parameters the consumers consider while buying
jewellery.
5
6. DESCRIPTION PROBLEM
The scope of study is limited due to the following reasons:
1) Time constraint - since the time span for the study was only one month, an in depth
study and analysis will become a little difficult
2) Sample size - the sample size of the study is only 100 which would not give a
comprehensive result. Many important samples may not be considered at all. The
conclusion of the study may not result to an accurate outcome due to the sample size
being small.
4) Awareness - the sample taken and the conclusion drawn can be led to only one side if
there is lack of awareness about branded jewellery.
6
7. SIGNIFICANCE OF THE STUDY
The gems and jewellery industry occupies an important position in the
Indian economy and is one of the fastest growing industries in the country.
Hence the research conducted would help us to:
1) Understand the consumers preference while purchasing jewellery.
2) How much impact does a brand/ retailer has on their purchase decision.
3) Does price play an important role in guiding their purchase decision.
4) Are the various promotional strategies adopted to combat competition.
7
8. INTRODUCTION
India has a historic relationship with Jewellery.
Many kings, emperors and dynasties featuring countless wars, conquests and political
upheavals have ruled the Indian sub-continent. Different dynasties ruled different parts
of India with different monetary systems. Jewellery acted as a common medium of
exchange or store of value across the monetary systems of different kingdoms across
the sub-continent especially gold. Hence wealth could still be preserved in spite of wars
and political turbulence. Gold also helped preserve wealth through natural calamities
and disasters and for centuries was the only means of saving in rural India, land being
the other main asset of economic value. This has largely helped formulate, or evolve,
the Indian sentiment and fanatical passion for gold, which holds true even today. India is
estimated to hold more than 11,000 tonnes of gold.
Apart from its historical religious significance, Jewellery is valued as an important
savings and investment vehicle in India. Even in present times, Jewellery remains the
Indian bride’s `Streedhan’, the wealth she takes with her when she marries and which
remains hers. Gold jewellery is the preferred jewellery worn by women in India
irrespective of their religious beliefs. In marriages, gold jewellery is the gift preferred by
the near relatives of the bride and the groom. Jewellery is very popular among
farmers, with an upsurge in gold sales after a good agricultural season. Buying of gold is
an important part of every stage of an Indian citizen’s life— at birth, marriage,
8
9. construction of home, festivals, religious ceremonies, setting up of new business, and
death.
As India makes rapid progress in the retail arena, the Indian Jewellery market is
undergoing a gradual metamorphosis from unorganised to organised formats. The
jewellery business in India is estimated to be at Rs 50,000 crore. According to the
independent estimation studies conducted by World Gold Council and McKinsey, out of
the overall market share, the share of organised jewellery market is less than Rs 1,000
crore. This accounts to about 2-3 per cent of the total market share. But given that this
is a relatively new segment of the market, it is poised to grow. Jewellery retailing is
moving from a ‘storehouse of value’ to a precious fashion accessory. Plain gold is
gradually easing its stranglehold on the Indian consumer psyche to give way to
diamonds, platinum and coloured gemstones. The way jewellery was worn before is
undergoing a tremendous change.
The young Indian woman who is the prime market for the organised retailers differr
from the traditional jewellery customer in many ways as enumerated below.
•She is well educated and more in tune with international trends
•Increase in working women with high disposable incomes
•Greater mobility
•Less constrained by traditions.
All these reasons and more ensure that the modern Indian woman is looking for
jewellery from a perspective different from the past. In addition, organised retailing
offers quality products, follows standardised practices and uniform pricing strategy.
Organised retail formats work on transparent policies that are not necessarily available
at the traditional jewellery shops. Today, goods and services offered by any retailer are
strongly driven by their identified Target Group . There are several examples of retailers
who are drawing in consumers either across a wide swathe or a segment of socio-
economic classification, clearly defined by them. This has been the first step towards
9
10. organized jewellery retailing in India. In a short span of time, organised retailers have
successfully implemented a change in the buying pattern of the Indian consumer.
In addition, branded players require focused advertising and astute salesmanship to
compete with traditional jewelers. Besides the major brands- Tanishq, Carbon,
Oyzterbay, Gili and Trendsmith - several regional players have opened branches to
leverage the trust and reputation that they have built up over the years.
STRUCTURE OF JEWELLERY IN INDIA
•Plain gold Jewellery
•Studded Jewellery
•Silver Jewellery
•CostumeJ ewellery
India is the largest consumer of Gold in the world with annual demand close to 800
tons. It is believed that 90% of this demand is directed towards manufacturing of
jewellery. The bulk of the Indian jewellery buying is still rooted in tradition and jewellery
is sold in traditional designs. Jewellery designs vary in different regions of India, making
the style unique to each region. In South India the designs are inspired by nature -
paisley motif of the mango, rice grains, melon and cucumber seeds, etc. In Western and
Northern India, the Mughal influence can be seen in the meenakari (enamelling) and
kundan work. Jewellery is crafted not just for humans but also for the deities,
ceremonial elephants, and horses. Hence the variety of gold jewellery in India is truly
mind-boggling and bears testimony to the excellent skills of Indian jewellers of today.
Ornaments are made practically for every part of the body - nose rings, bangles,
necklaces and special jewellery for the head, ankles, waistbands, and so on.
10
11. Plain gold jewellery is fabricated mainly in 22-karat gold and even 18-karat is not
favoured, as the mindset does not accept low purity gold jewellery. The logic is that the
jewellery is primarily bought as an investment in gold, and investing in a low purity
product does not appeal to the Indian consumers. However for the studded gold
jewellery, 18 karat has become acceptable.
CONSUMER BUYING BEHAVIOUR WHILE BUYING JEWELLERY
While buying a product, consumer displays different kinds of behaviours towards
different kinds of products from a tube of toothpaste to a new car. More complex
decisions usually involve more buying participants and more buyer deliberation.
While buying an expensive product for jewellery, which satisfies a consumer’s self
esteem needs( according to the Maslow’s heirarchy of needs) a consumer displays
complex buying behaviour. Consumers undertake complex buying behaviour when they
are highly involved in a purchase and perceive significant differences among brands.
Consumers may be highly involved when the product is expensive, risky, purchased
infrequently, and highly self expressive.
This buyer will pass through a learning process, first developing belief about the
product, then attitudes, and then making a thoughtful purchase choice. Marketers of
high involvement products must understand the information gathering and evaluation
behaviour pf high involvement consumer, they need to hellp buyers learn about the
product- class attributes and their relative importance.
GOLD JEWELLERY MARKET IN INDIA
11
12. Before the liberalization of the Indian economy in 1991, only the Minerals and Metals
Trading Corporation of India (MMTC) and the State Bank of India (SBI) were allowed to
import gold. The abolition of the Gold Control Act in 1992, allowed large export houses
to import gold freely
Exporters in export processing zones were allowed to sell 10 percent of their produce in
the domestic market. In 1993, gold and diamond mining were opened up for private
investors and foreign investors were allowed to own half the equity in mining ventures.
In 1997, overseas banks and bullion suppliers were also allowed to import gold into
India. These measures led to the entry of foreign players like DeBeers, Tiffany and
Cartiers into the Indian market.
In the 1990s, the number of retail jewellery outlets in India increased greatly due to the
abolition of the Gold Control Act. This led to a highly fragmented and unorganized
jewellery market with an estimated 100,000 workshops supplying over 350,000
retailers, mostly family-owned, single shop operations. In 2001, India had the highest
demand for gold in the world; 855 tons were consumed a year, 95% of which was used
for jewellery. The bulk of the jewellery purchased in India was designed in the
traditional Indian style.
Jewellery was fabricated mainly in 18, 22 and 24-carat gold. As Hallmarking was not very
common in India, under-carat age was prevalent. According to a survey done by the
Bureau of Indian Standards (BIS), most gold jewellery advertised in India as 22-carat was
of a lesser quality. Over 80% of the jewelers sold gold jewellery ranging from 13.5 carats
to 18 carats as 22-carat gold jewellery.
The late 1990s saw a number of branded jewellery players entering the Indian market.
Titan sold gold jewellery under the brand name Tanishq, while Gitanjali Jewels, a
Mumbai-based jewellery exporter, sold 18-carat gold jewellery under the brand name
Gili. Gitanjali Jewels also started selling 24-carat gold jewellery in association with a Thai
company, Pranda. Su- Raj (India) Ltd. launched its collection of diamond and 22 -carat
gold jewellery in 1997.
The Mumbai-based group, Beautiful, which marketed the Tiffany range of products in
India, launched its own range of studded 18-carat jewellery, Dagina. Cartiers entered
India in 1997 in a franchise agreement with Ravissant. Other players who entered the
Indian branded gold jewellery market during the 1990s and 2000-01 included Intergold
Gem Ltd., Oyzterbay, Carbon and Tribhovandas Bhimji Zaveri (TBZ).
12
13. BRANDED DEALERS
TANISHQ
In 1984, Questar Investments Limited (a Tata group company) and the Tamil Nadu
Industrial Development Corporation Limited (TIDCO) jointly promoted Titan Watches
Limited (Titan). Initially involved in the watches and clocks business, Titan later ventured
into the jewellery businesses. In 1995, Titan changed its name from 'Titan Watches Ltd.'
to 'Titan Industries Ltd.' in order to change its image from that of a watch manufacturer
to that of a fashion accessories manufacturer. In the same year, it also started its
jewellery division under the Tanishq brand.
Among the branded jewellery players in the Indian market, Tanishq is considered to be a
trendsetter. When it was launched in 1995, Tanishq began with 18-carat jewellery.
Realizing that such jewellery did not sell well in the domestic market, the 18-carat
jewellery range was expanded to include 22 and 24-carat ornaments as well. When
Tanishq was launched, it sold most of its products through multibrand stores. In 1998,
Tanishq decided to set up its own chain of retail showrooms to create a distinctive
brand image.
13
14. By 2002, Tanishq retailed its jewellery through 53 exclusive stores across 41 cities. To
meet increasing demand, Tanishq planned to open 70 stores by the end of 2003 and
offer a range of 'wearable' products with prices starting at Rs. 400. With sales of Rs. 2.66
billion in 2000-01, Tanishq had a 0.66 percent share of the total jewellery market and a
27 percent share of the branded jewellery market. The market of tanishq jewellery is
growing since long time.
14
15. Figure 1 growth in sales from 2000 to 2008 in Million Rupees
15
16. GILLI
Gili launched a collection of traditional Indian ornaments made of 18-carat gold. In
1999, the Gili Gold range was introduced. This range included rings, pendants, earrings,
necklaces and bangles made of 24-carat gold. All Gili products came with a guarantee of
diamond and gold quality
Gili distributed its jewellery priced between Rs. 500 and Rs. 40,000 through lifestyle and
department stores across the country to increase accessibility among its target segment,
the 15 to 30 age group. Gili distributed its jewellery priced between Rs. 500 and Rs.
40,000 through lifestyle and department stores across the country to increase
accessibility among its target segment, the 15 to 30 age group. The collection was
promoted at college campuses with banners, pamphlets and a few advertisements
targeted at teens. Gili soon realized that just pushing its product was not enough; it also
had to customize its products for special occasions. Following this, it launched a
Diamond Heart Collection specially designed for Valentine's Day. This collection
consisting of tiny, heart-shaped diamond jewellery was well received by teens. Special
packaging, catchy advertising and extensive press coverage contributed to the success
of the collection. Gili also made special promotional offers during festive seasons like
Christmas and Diwali. Having captured the low price point market of Rs.2000 to Rs.10,
000, the company is focused on penetrating the premium market of customized
jewellery. For this Gitanjali jewels opened a jewellery salon, Gianti, to provide
customized jewellery to clients in India.
16
17. NAKSHATRA
A diamond is a symbol of power and beauty –a creation that captures the essence of
nature’s magical process through millions of years. The Indian jewellery market has
been transformed in much the same way by Nakshatra. In less than a decade after
launch, the brand has appropriated the physical values of the diamond – its quality,
brilliance and clarity – and made a deep impact on the Indian psyche. So stunning has
this impact been that within one year of its debut Nakshatra had registered a 93% top-
of mind recall – surpassing every other diamond jewellery brand by a long margin
(Source: Global Tracking Study conducted by Research International, January 2003).
This recall has also been reflected in the volumes Nakshatra had achieved. Between
2005
and 2007 the brand grew eleven times. It has impacted the jewellery trade in other
ways, too. More than 70% of jewellery retail outlets have reported that Nakshatra has
not only played a key role in generating overall diamond jewellery sales it has also
helped them increase their own sales of floral jewellery to people who had come asking
for Nakshatra. The effort to promote Nakshatra has gained recognition from more than
just the retail trade.
In 2003, the Nakshatra Utsav won the Best Trade Promotions award at the McDowell’s
Signature All India Promo Awards. In 2007 the brand was given the Retail Jeweller
Award for the Best TV Campaign of the Year. The in-house design team at Nakshatra
with its wide repertoire of innovative designs, fresh ideas and novel concepts also won
multiple honours including the CK– New Delhi Gold Souk Design Award in 2006, the IIGJ
Award in 2007 and the Tahitian Pearl Awards in 2005 and 2007.
17
18. LOCAL DEALERS
TALWAR JEWELLERS
A name that evokes history, quality and commitment. A name that evokes exquisite
fires that gold and diamond inspire the heart.
The TALWAR JEWELLERS have been providing with gold and diamond jewels for more
than 5 decades. The Late Shri Tasrem Lal Talwar established a presence in Chandigarh
from the year the city was founded in 1954. The showroom was first and the oldest.
Their fame for quality and being on the leading edge of fashion in 22 carat gold and
diamonds from all over India have been built on dedication to their clients expectations.
Their commitment and dedication towards their customers have made them one of the
leading jewelers in northern region.
18
19. KHANNA JEWELLERS
The Khanna Group of companies was founded in 1953 by Late Shri Wazir Chand Khanna
and his three sons. Their first showroom opened its doors to customers at Karol Bagh,
New Delhi. Now the Khanna group of companies has, over the years, diversified into
several new areas. Khanna jewelers India has been adding the magical sparkle of
diamond, gold and platinum jewellery to the lives of the jewellery connoisseur for over
50 years.
OTHERS
There are many other local dealers for jewellery such as Champalal jewelers, Mahaveer
jewelers, Chawla jewelers etc. who are earning a good name in jewellery market.
Although they sell their own produced jewellery yet they have many consumers who
prefer buying jewellery only from them. These dealers are preferred by consumers
because of their good quality products and strong personal relations with consumers.
19
20. SECTOR PROFILE
BRANDED VS. NON BRANDED JEWELLERY
BRANDED JEWELLERY NON BRANDED JEWELLERY
Name and reputation give a confidence to Customers can tailor make jewellery
the consumer. according to their preferences.
It comes with a written lifetime gurantee, No written lifetime guarantee, trust is
purely based on the consumer.
considering the emotional quotient of the
consumer.
Excellent quality, good selling policies andd Minimum efforts in packaging, finishing,
backup services for jewellery. sales and low advertising.
Has a more contemporary, stylish and Is usually bulky and traditional.
classicoutlook, which easily segments itself
amongthe traditional ones
Available in multiple outlets Available only in traditional jewellery
outlets.
20
21. RESEARCH METHODOLOGY
Research is initiated by examining the secondary data to gain insight into the problem.
The primary data is evaluated on the basis of the analysis of the secondary data.
TYPE OF RESEARCH: Exploratory research
DEVELOPING THE RESEARCH PLAN
The data for this research project would be collected through questionnaire. A
structured questionnaire would be framed as it is less time consuming, generates
specific and to the point information, easier to tabulate and interpret. Moreover
respondents prefer to give direct answers.
COLLECTION OF DATA
a) Secondary Data: It was collected from internal sources. The secondary data was
collected from the articles, newspapers, journals and internet.
b) Primary data: They were the main source of Primary data. The method of collection
of primary data would be direct personal interview through a structured questionnaire.
SAMPLING PLAN
Since it is not possible to study whole population, it is necessary to obtain
representative samples from the population to understand its characteristics.
1) Sampling Units would comprise of men and women.
2) Research instruments- questionnaires.
SAMPLE SIZE 100 respondents
DATA ANALYSIS
21
22. Question 1 Yes No
Do you wear jewellery? 99 1
By studying the 100 questionnaire we have come to the conclusion that 99% of the total
population wears jewellery whereas just 1% doesn’t wear the jewellery.
22
23. Whenever any
Question 2 Once in a long Once in a occasion comes up
time year
How frequently do you
make jewellery purchases? 20 45 35
45% of the total population buys jewellery in a year and 35% of the population buys
whenever any occasion comes up whereas remaining 20% buys in a long time.
23
24. Question 3 Local Dealers Brands (Tanishq,
D’damas , etc..)
From where do you prefer purchasing 45 55
jewellery?
From the analysis we came to know that 45% of the people prefer purchasing jewellery
from local dealers and 55% of total poplution prefer buying brands.
24
25. Question 4 I can choose The The stores They The
from a wide quality of are easily provide jewellery
variety of the accessible good is certified
designs product is as they exchange
excellent have their offers
outlets at
many
places
If brands, what are 32 47 20 16 35
the factors
responsible for this
choice (one or
more)?
From the above pie chart we have concluded that why the people purchase brand is the
quality of the product and its certification.
25
26. Question 5 I can buy The store is The price The products The retailer is
the located near are are very reliable
products my house, negotiable, comparativel as I have been
on credit and so is I do not y priced low dealing with
easily have to him since a
approachabl buy at the long time
e M.R.P
If local
retailers, what 11 16 23 21 37
factors affect
this decision
(one or
more)?
The reason why 45% of the total population goes to the local retailers is there relaibility
and low prices.
26
27. Question 6 Schemes launched Recommendations Pamphlets
by the stores from Friends/ distributed
Relatives
From where did you 24 62 21
get the knowledge of
this store/ brand?
Recommendation from friends and reletaives contribute much more in spreading the
knowledge about the store/ brand rather then distributing pamphlets or launching
schemes.
27
28. Question 7 I recently started From past 5 to Since a very long
visiting this 10 years time, almost
store/ Brand always
How long have you been making 22 39 39
your purchases of jewellery from
this store/ brand?
Most of the population says 70% are buying jewellery from the same store/ brand from
past 5 to 10 years or a long time respectively.
28
29. Question 8 Very Satisfied Neither Dissatisfied Very
satisfied satisfied dissatisfied
nor
dissatisfied
How satisfied 45 48 7 - -
are you with
the jewellery
you buy?
Almost everyone is satisfied with the jewellery they buy.
29
30. Question 9 Extremely Very Somewhat Not very Not at all
important important important important important
How important is 9 23 28 34 3
the advertisement
campaign followed
by the store to
make you opt for it?
35% of the population is not affected by the advertisement campaign but on the
contrary advertisement is somewhat important for the 29% of the population.
30
31. Question 10 Very Significantly Partially Neutral Not at all
significantly significant
Does the 14 39 24 20 1
ambience and the
services provided
in the store affect
your purchase?
The above pie chart represents that 40% of the population is significantly affected by
the ambience and the services provided in the store.
31
32. Question 11 Always Often Sometimes Rarely Never
Before making any 12 14 30 28 16
jewellery purchases, do
you compare the designs
and prices of the same
between the branded
showroom and the local
dealers?
People generally don’t compare the prices between the branded showroom and the
local dealers.
32
33. Question 12 Yes No Maybe
Do you plan to shift or 9 48 43
change the source of
purchasing jewellery?
From the about the data we have concluded that almost half of the population is
satisfied with their retaliers and doesn’t want to change.
33
34. CONCLUSION
We have concluded from the above study that the individuals are moving towards
brands rather than local retailers. Most of the population buys jewellery frequently and
the reason why people people going for more of branded jewellery is the certification of
the jewellery.
It is not that people are ignoring local retailers large number of total population still
demands local jewelers and the reason is the reliability of the retailers. People generally
don’t compare the prices between the branded showroom and the local dealers. From
the about the data we have concluded that almost half of the population is satisfied
with their retaliers and doesn’t want to change.
34
35. RECOMMENDATION
From the above analysis we have come to the conclusion that the local retailers should
adopt the certification for the jewellery they are offering to the consumers. They should
also provide wide range of the product they are offering so that they can capture larger
share in the market.
Branded retailers should focus on reducing the cost and try to develop the trust factor
with the consumers so that it will help them to increase there sales.
35
36. LITERARY REVIEW
GEMS AND JEWELLERY
The gems and jewellery industry is one of the fastest growing industries in India, The
growth in the purchasing parity of the middle class and surging income levels have
resulted in consumtion growth of gems and jewellery by about 11 percent in the five
years preceeding 2006-2007. it also contributes over 15 percent of India’s total exports
and provides employment to 1.3 million people directly and indirectly.
The two major segments of the sector in India are gold jewellery and diamonds. Gold
jewellery forms around 80 per cent of the Indian jewellery market, with the balance
comprising fabricated studded jewellery that includes diamonds as well as gemstone
studded jewellery.
India consumes nearly 800 tonnes of gold accounting for about 20 per cent of the world
gold consumption, of which nearly 600 tonnes goes into making jewellery. The Indian
jewellery market, estimated to be US$ 13.5 billion in fiscal 2006-07, accounts for 8.3 per
cent of world jewellery sales, according to a study by KPMG.
The industry is well supported by Government policies and the banking sector --
around50 banks provide nearly US$ 3 billion credit to the Indian diamond industry. In
addition,India is expected to have a diamond bourse soon.
India Advantage
India is the world’s largest diamond processing (cutting and polishing) country with an
estimated 1 million processors handling over 57 per cent of the world’s rough diamonds
by value. According to industry estimates, 11 out of 12 stones (diamonds) set in
jewellery
are cut and polished in India. Processing is done on rough diamonds in full range of sizes
and qualities, including stones larger than 10 carats.
36
37. In terms of carat, India's share in this sector is about 80 per cent of the world market.
Employing over 90 per cent of the global diamond industry workforce, India also
accounts for 90 per cent of the volume of diamonds processed in the world.
Exports
After making its mark in the world diamond processing industry, India is well on its way
to becoming the leading global gems and jewellery hub. India’s gems and jewellery
industry is now on a high growth trajectory.
Exports from the industry fetched US$ 17.1 billion in 2006-07 against US$ 16.64 billionin
2005-06, showing a growth of 26 per cent. While diamonds accounted for 64 percent of
the total exports, gold jewellery accounted for 30.47 per cent, colored gem stones
andothers accounted for 1.44 per cent and 1.04 per cent respectively last year.
Cut and polished diamond segment exports were US$ 10.90 billion, while gold jewellery
exports fetched US$ 5.21 billion last year. Coloured gemstone exports yielded US$
246.48 million last fiscal, against US$ 232.35 million in 2005-06.
The growth momentum has continued into the current fiscal. The gems and jewellery
export industry grew by a robust 27 per cent export during the first half of the current
fiscal at US$ 9.4 billion, as compared to US$ 7.4 billion in the corresponding period of
2006, according to the Gems and Jewellery Export Promotion Council (GJEPC).
The growth in diamond exports was 28 per cent, in jewellery it was 21 per cent and in
coloured gemstones, it was 22 per cent. The major destinations for exports have been
the
US, UAE, Hong Kong, Belgium and Israel. In fact, the US, UAE and Hong Kong
together accounted for over 70 per cent of the total exports in the previous fiscal year.
Consumption
The increasing levels of disposable household income have resulted in record
consumption levels in the domestic market. Indian jewellery demand rose by 70 per
37
38. cent during the first half of 2007 compared with the same period last year. Jewellery
demand increased to 387 tonnes from 227 tonnes during the period.
Also, gold consumption during the first six months of 2007 grew by 70 per cent to 528
tonnes compared to 307 tonnes in the same period last year. India’s total gold
consumption in 2006 was slightly over 700 tonnes. While jewellery accounted for
around
73 per cent of gold demand, investments in the forms of coins and bars accounted for
the rest.
According to the World Gold Council (WGC), India’s gold consumption this year could in
fact cross the 1,000-tonne mark for the first time. The booming domestic market along
with export advantage of the industry and the Government's decision to allow foreign
direct investment of up to 51 per cent in single brand retail stores has attracted a large
number of players to the sector.
• Swarovski, the global crystal goods manufacturer and marketer, is on an
expansion spree in India and hopes to achieve 5 to 10 per cent of its global
turnover from the country in the next 10 years. The company plans to set up 30
stores by 2009, from the current 13.
•D’Damas India, part of one of the largest jewellery retail outlets in the world, is
adding 16 new stores to its present dozen stores in India.
• Morgan Stanley, Citigroup, Goldman Sachs and BSMA Ltd. collectively
purchased a 7 per cent stake in Gitanjali Gems for around US$ 27.8 million.
• Goldman Sachs and UBS Securities have acquired 6.28 per cent in Shrenuj & Co
at around US$ 2.07 million and US$ 2 million, respectively.
• Gemology Headquarters International (GHI), a US-based gemological grading
and research laboratory, has opened its first Indian branch at Opera House,
Mumbai.
38
39. • Reliance Retail is planning an aggressive entry into the jewellery retail market through
its 400 to 500 jewellery retail outlets in the country.
Looking Ahead
The booming economy along with the rapid increase in income levels is estimated to
further accelerate the growth of this industry. According to a KPMG study, India’s
growing importance in the global jewellery market is only expected to increase in the
future with total estimated jewellery sales of US$ 21 billion by 2010 and US$ 37 billion
by 2015. Diamond jewellery consumption in India is also estimated to jump by 78 per
cent in 2010.
39
40. BIBLIOGRAPHY
The magazines and journals referred:
Solitaire International
Web sources:
www.google.com
www.indiandata.com
www.valuenotes.com
40
41. QUESTIONNAIRE
Jewellery buying preference : Local retailers or Brands
1. Do you wear jewellery?
□ Yes
□ No
2. How frequently do you make jewellery purchases?
□ Once in a long time
□ Once in a year
□ Whenever any occasion comes up
3. From where do you prefer purchasing jewellery?
□ Local Dealers
□ Brands (Tanishq, D’damas, etc.)
4. If brands, what are the factors responsible for this choice (one or more)?
□ I can choose from a wide variety of designs
□ The quality of the products is excellent
□ The stores are easily accessible as they have their outlets at many places.
□ They provide good exchange offers.
□ The jewellery is certified.
41
42. 5. If local retailers, what factors affect this decision (one or more)?
□ I can buy the products on credit .
□ The store is located near my house, and so is easily approachable.
□ The prices are negotiable, I do not have to buy at the M.R.P.
□ The products are comparatively priced low .
□ The retailer is very reliable as I have been dealing with him since a long time.
6. From where did you get the knowledge of this store/ brand?
□ Schemes launched by the store.
□ Recommendations from Friends / Relatives.
□ Pamphlets distributed.
7. How long have you been making your purchases of jewellery from this store/
brand?
□ I recently started visiting this store / brand.
□ From past 5 to 10 years
□ Since a very long time, almost always.
8. How satisfied are you with the jewellery you buy?
□ Very satisfied
□ Satisfied
□ neither satisfied nor dissatisfied
42
43. □ Dissatisfied
□ Very dissatisfied
9. How important is the advertisement campaign followed by the store to make
you opt for it?
□ Extremely important
□ Very important
□ Somewhat important
□ Not very important
□ Non at all important
10. Does the ambience and the services provided in the store affect your purchase?
□ Very Significantly
□ Significantly
□ Partially
□ Neutral
□ Not At All Significant
11. Before making any jewellery purchases, do you compare the designs and prices
of the same between the branded showrooms and the local dealers?
□ Always
□ Often
□ Sometimes
□ Rarely
43
44. □ Never
12. Do you plan to shift or change the source of purchasing jewellery?
□ Yes
□ No
□ Maybe
NAME: ________________________ ADDRESS:
_____________________________________________
PROFESSION: __________________ MONTHLY INCOME: - □ 3 FIGURES □ 4
FIGURES □ 5 FIGURES
44