CHAPTER 1

INTRODUCTION
Till the early 1990s, the average Indian bought jewellery for investment rather than for adornment. Jewellery made of 18karat gold was not favored as it was considered a poor investment. Confidence in the local jeweler was the hallmark of the gold jewellery trade in India. A jeweler or goldsmith in a local area had a fixed and loyal clientele. The buyer had implicit faith in his jeweler. Additionally, the local jeweler catered to the local taste for traditional jewellery. However, since the late 1990s, there was a shift in consumer tastes: women were increasingly opting for

fashionable and lightweight jewellery instead of traditional chunky jewellery. There was a rise in demand for lightweight jewellery, especially from consumers in the 16 to 25 age group, who regarded jewellery as an accessory and not an investment. The new millennium witnessed a definite change in consumer preferences. Branded jewellery also gained acceptance forcing

traditional jewelers to go in for branding. Given the opportunities the branded jewellery market offered; the number of gold retailers in the country increased sharply. Branded players such

as Tanishq, Oyzterbay, 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 inhouse brands. However, the share of branded jewellery in the total jewellery market was 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. 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. Moreover, consumers trusted only their family jewelers when buying jewellery. Consequently, the branded jewellery players tried to change the mindset of the people and woo customers with attractive designs at affordable prices. However branded jewellery players will continue to face lot of competition from local jewelers. In order to gain market share, they will have to come up with designs that customers want and win the trust and confidence of consumers by hallmarking and demonstrating the purity of the gold used by them. To compete with traditional players, branded players must also find some way to differentiate themselves. While the success of a particular brand will depend on differentiation,

affordability and quality will be a key element in sustaining a brand. 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.

CHAPTER 2

INTRODUCTION TO COMPANY 1. TANISHQ Tanishq is India's largest, most desirable and fastest growing jewelry brand in India. Started in 1995, Tanishq is the jewelry business group of Titan Industries Ltd - promoted by the TATA group, India's most respected and widely diversified business conglomerate. This year marks a decade of successful innings for Tanishq. With retail sales of 1200 crore last year and gunning for 2000 crores this year, Tanishq has arrived in the Indian jewelry market. It is a story of a successful Indian enterprise, which has delivered value to its customers and shareholders in a complex category, marked by its completely localized front end as well as back end. Tanishq has set up production and sourcing bases with through research of the jewelry crafts of India. jewellery at Tanishq is crafted in one of the world's most modern factories. The factory complies with all labour and environmental standards. Located at Hosur, Tamil Nadu, the 1, 35,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Every product at Tanishq is painstakingly crafted to perfection. Diligent care and quality processes ensure that the Tanishq finish is unmatched by any other jeweller in the country. Tanishq challenged the age-old jeweller's word with TATA's guaranteed purity. It exploded the

market with facts about rampant impurity across India. It introduced technology-backed challenge in a category

completely governed by individual trust. Tanishq introduced innovations like Karatmeter, the only non destructive means to check the purity of gold. Tanishq also introduced professional retailing in the dis-organised Indian jewelry bazaar, where women can shop with comfort and peace, without worrying about the purity of the jewelry they are buying, as well as, select from the best jewelry collections available in the Indian market. Tanishq today is India's most aspirational fine jewelry brand with 91 stores in 64 cities, with an exquisite range of gold jewelry studded with diamonds or coloured gems and a wide range of equally spectacular jewelry in 22Kt pure gold. Exquisite platinum jewelry is also part of the product range. 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 18carat 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.

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. 2. GITANJALI Gitanjali Group a 5000 crores company, strategically positioning itself as the leading diamond studded jewellerymanufacturing company, today has one of the largest fully integrated diamond and jewellery manufacturing plants in the country. The Group, which has been a pioneer in the branded jewellery industry, has always been at the threshold of boosting the production of quality jewellery, which has obliquely proved to be an excellent, branding and marketing strategy backed by a formidable retailing network - all ensuring the group an enviable advantage in the jewellery arena. The Gitanjali Group is engaged in the business of sourcing rough diamonds, its manufacture, import and export of diamonds, manufacture of plain and diamond studded gold and platinum jewellery and its marketing and domestic retailing. As Jewellery exports form one of the

largest contributors to the foreign exchequers, the jewellery major Gitanjali, is one of Indias high-end contributors to the foreign exchequer as well as a major player in the domestic market. Gitanjali has four decades of experience, being one of the earliest diamond houses in India. Having received over 50 National and Council awards from the Ministry of Commerce for outstanding exports, it is today one of the largest diamond exporting companies in India. Presently the Gitanjali Group has highly modernized diamond cutting and polishing facilities at 5 locations in India and globally diversified manufacturing

operations in Bangkok, Vietnam and China and a marketing network spread across Europe, Hong Kong, USA and Japan. The very basis of their existence is to successfully develop, produce and sell high-quality jewellery brands worldwide & helps the customers in getting the maximum Value for Money in the process. In 1994, Gili Jewellery was established as a distinct brand by Gitanjali Jewels, soon after the abolition of the Gold Control Act by the Indian government. Gili offered a wide range of 18carat plain gold and diamond-studded jewellery, designed for the contemporary Indian woman. The designs combined both the

Indian and western styles and motifs. With sales of Rs.0.14 billion for the year 2000-01, Gili had a 0.03 percent share of the 400 billion jewellery market in India and a 1.4 percent share of the branded jewellery market. 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 company's products were also made available through a mail-order catalogue. In 1997, 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 24carat gold. All Gili products came with a guarantee of diamond and gold quality. When research conducted in February 2000 showed that there was a big gap between the Rs. 1000 and Rs. 10000 price segment and keeping in view the teenage

population, and the kind of pocket money they had, Gili brought out a collection targeting teens. In 2000, Gili launched its 'diamond heart collection' targeted at teenagers and priced between Rs 500 and Rs.2500. 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 (Refer Exhibit VI). 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, in 2000, the company 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. HIGHLIGHTS Q3 FY10: Jewellery Sales turnover increased by 60% to 1,098 cr. in Q3 FY10 39% EBIDTA gone up by 44% to 102 cr. in Q3 FY10 Operating Profit registered a growth of 51%, stood at 91 cr. PAT of Q3 FY10 stood at 41 cr registering an increase of

Gems and Jewellery Sales volume grown to 1812 cr. reported a growth of 63% Mumbai, January 30, 2010: Gitanjali Gems Limited, the flagship company of Gitanjali Group, one of Indias leading integrated diamond and jewellery retailing and manufacturing company, announced its results for the third quarter ended 31 December, 2009 of FY 10. NINE MONTHS FY10 Vs. NINE MONTHS FY09

Jewellery Sales turnover increased by 43% to Rs. 2703 cr. as compared to Rs. 1892 cr. in nine months period FY09

EBIDTA gone up by 37% to Rs. 307 cr. from Rs.223 cr. in nine months period FY09

PAT of nine months period FY10 stood at Rs. 139 cr. as compared to Rs 120 cr. in nine months period FY09 registering an increase of 16%

Operating Profit of nine months period FY10 stood at Rs.283 cr. as compared to Rs 201 cr. in nine months period FY09, registering an increase of 41%

GITANJALI RETAIL BUSINESS

Gitanjali has strong retail presence in the worlds largest markets for jewellery. Retail business is a major Contributor in Gitanjalis revenue. Gitanjali has over 2000 plus retail

outlet across India and in the process of expansion in tier II and III cities to cater to new segment of the customer.

USA is a largest jewellery consuming country and 45% of worldwide diamond jewellery sales are made in the United States. In FY 2007-08, Gitanjali made a strategic acquisition in USA, including Samuels and Rogers, and now has about 137 stores in Centre and across USA, being expanded to 200 stores in the near future.

Samuels and Rogers of Gitanjali are the 8th largest branded jewellery retail chain in US.

Gitanjalis integrated supply chain business model has given an advantage to survive and post profit despite of US recession.

Gitanjali retail business has spread through all channels and in all geographies, across all the market segments

Net Profit has gone up because of shift in market from wholesale to retail.

RETAIL STRATEGY

Gitanjalis strategy is to increase the market share of various brands and its positioning in the market. Strategy is to generate demand for branded diamond jewellery in the future

Gitanjali has also acquired a 76% stake in Salasar Retail and will roll out multi-format retail stores under the Maya brand. The Salasar stake gives Gitanjali Lifestyle 10 multistorey stores with 200,000 square feet of retail space in Northern India.

Flagship product brands of the company are able to convert themselves into retail brands.

The group has introduced many promising brands to its bouquet. The new collection includes World of Solitaire, World of Silver, ME Solitaire, Maya, Gitanjali Menz, Maya Bridal, Bezel and many more.

INDUSTRY

Overall Gold and jewellery industry is estimated to be about USD 35 billion, out of which 12-15% is constituted by diamond jewellery market. i.e. USD 4 billion, 10% of which is branded jewellery market accounts for USD 500 million

Overall Industry is growing at the rate of 15-18% and where as share of diamond jewellery is growing at 18-20%

Out of 10 leading gems and jewellery brands in India 6 of them are under the Gitanjali umbrella. Share of branded diamond jewellery in India is growing by 25-30% and therefore, share of Gitanjali growing at that pace.

In modern retail, Gitanjali holds 65-70% market share These industry dynamics has compounding effect on the growth of the Gitanjali Gems.

3.

DDAMAS: D'damas is one of the most popular jewellery brands in the

country today with a presence in over 159 towns and cities. A joint venture between Gitanjali Gems and the Dubai based Damas Group; D'damas is a sub-brand that combines

international quality with Indian values. D'damas' vast variety of brand allows every customer a choice of jewellery to reflect her personality, tastes and to suit every occasion. It has gold and diamond studded jewellery matching various lifestyle, occasion and price points that cater to diversified customers. D'damas is committed to the highest levels of customer satisfaction, and every piece of jewellery comes with a special certificate of authenticity assuring of both the diamond and gold content of the piece. D'damas jewellery is accompanied with an IGI certificate & Hallmarking, a world renowned, further certifies the diamonds, which is headquartered in Antwerp.

Each

sub-brand

under

D'damas

offers

stylized

and

contemporary designs, conceptualized and created by an inhouse team of award winning designs. Their strength in design has been recognized repeatedly with D'damas designers having won a number of design awards.
4. KOHINOOR DIAMOND (AKA KOH-I-NOOR) The Kohinoor Diamond is one of the most famous diamonds in the world. The Kohinoor diamond was first mentioned in 1306 when it was taken from a Rajah of Malwa, whose family had held the diamond for centuries. It was described as weighing 186 carats and was an oval cut white diamond - the shape and size of a small hen's egg. The Kohinoor diamond belonged to various Indian and Persian rulers but it became part of the Crown Jewels of England at the time that Queen Victoria was proclaimed empress of India. The Kohinoor was re-cut at this time and now weighs 108.93 carats and is kept in the Tower of London. ORIGIN / MEANING Origin / Meaning of the name Kohinoor Diamond (aka Koh-iNoor) The Kohinoor (Koh-i-Noor) originated from India in Golconda at the Kollur mine and was specifically mined from the

*Rayalaseema diamond mine (meaning *Land of Stones) during the rule of the Kakatiya dynasty. The Kohinoor was then passed from one ruling dynasty to the next. The original name of the diamond

was Samantik Mani (Prince and leader among diamonds). In 1739 Nadir Shah, the King of Persia, invaded India and was said to refer to the diamond as the "Mountain of Light". The Persian-Arabic words for "Mountain of Light" were Koh-i-Noor. The magnificence of the diamond and its value symbolized the power of an Empire. It was said that "He who owns this diamond will own the world, but will also know all its misfortunes." Possession of the Kohinoor led to murder, torture, mutilation and treachery and stories of the Curse of the Kohinoor Diamond... The Curse of the Kohinoor Diamond (aka Koh-i-Noor)

The Curse of Kohinoor Diamond dates back to a Hindu text from the time of the first authenticated appearance of the diamond in 1306. The history and lives of the rulers who owned the Koh-i-Noor diamond were filled with violence, murders, mutilations, torture and treachery. Whether or not people believe in the Curse of the Kohinoor Diamond, the history of the stone is undeniable - and the threat of the Koh-i-Noor curse is enough to make people cautious. The British Royal family were obviously aware of the Curse of the Kohinoor and from the reign of Queen Victoria, when the Kohinoor diamond came into their possession, it has always gone to the wife of the male heir to the British throne. The History Timeline details the story of the Kohinoor diamond. HISTORY

Myths and legends surround the stone. It was of incredible value and described by one of its owners, the Emperor Babur, the Great Mogul, as "Worth the value of one day's food for all the people in the world". The men who fought for it, and the Kingdoms and great Empires that were won and lost, produced many stories of ill-luck that plagued the owners and became part of the history of the Kohinoor diamond.

UNBRANDED JEWELLERY The share of unbranded jewellery market in India is still more than 90% of the total jewellery market branded and unbranded. There are some specific shops of unbranded jewellery in Ludhiana like Khunkhun ji jewelers, Jewar kothi etc. the public trust more on these. There are some small shops also like Priya jwellers, Alankar abhushan bhandar, the middle class families often purchase from them.

CHAPTER 3

REVIEW OF LITERATURE The emergence of branded gold jewellery: In the late 1990s, the Indian jewellery market witnessed a shift in consumer perceptions of jewellery. Instead of being regarded as only an investment option, jewellery was being prized for its aesthetic appeal. In other words, the focus seemed to have shifted from content to design. Trendy, affordable and lightweight jewellery soon gained familiarity. Branded jewellery also gained acceptance forcing traditional jewelers to go in for branding. Given the opportunities the branded jewellery market offered; the number of gold retailers in the country increased sharply. Branded players such as Tanishq, Oyzterbay, 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 was 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 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. Moreover, consumers trusted only their family jewelers when buying jewellery. Consequently, the branded jewellery players tried to change the mindset of the people and woo customers with attractive designs at affordable prices. Gold Jewellery Market in India 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). 1. Gili: In 1994, Gili Jewellery was established as a distinct

brand by Gitanjali Jewels, soon after the abolition of the Gold Control Act by the Indian government. Gili offered a wide range of 18-carat plain gold and diamond-studded jewellery, designed for the contemporary Indian woman. The designs combined both the Indian and western styles and motifs. With sales of Rs.0.14 billion for the year 2000-01, Gili had a 0.03 percent share of the 400 billion jewellery market in India and a 1.4 percent share of the branded jewellery market. 2. 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 18carat 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. 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. 3. Carbon: In early 1991, the Bangalore based Peakok

Jewellery Pvt. Ltd., (Peakok) was incorporated and Mahesh Rao (Rao) was appointed director. Peakok realized that the Indian consumer's relationship with gold jewellery would grow beyond an investment need towards a lifestyle and personality

statement. In 1996, within the Peakok fold a new brand of 18carat gold-based jewellery called Carbon was launched. In 2000-01, with sales of Rs. 0.14 billion, carbon had a 0.03 percent share of the jewellery market and a 1.4 percent share of the branded jewellery market. The company expected Carbon sales to touch Rs. 1.5 billion by 2005-06 and exports to start by 2008. The brand was available at 40 outlets in 16 cities in 2002 and would be made available in 23 cities by 2005. 4. Oyzterbay: Oyzterbay was founded by Vasant Nangia and

his team in July 2000. It began operations in March 2001. By November 2002, the company had 41 outlets across the country. Oyzterbay seeks to build a national brand in the jewellery industry in India and aspires to be the largest branded jewellery company in the country with a chain of 100 stores and several hundred-distribution points by 2004. With sales of Rs. 0.17 billion in 2000-01, Oyzterbay had a 0.04 percent share of the Rs.400 billion jewellery market and a 1.7 percent share of the branded jewellery market 5. Trendsmith: Mumbai-based Tribhovandas Bhimji Zaveri

(TBZ), which had been in the jewellery business since 1864, saw tremendous scope in the branded segment and opened its new concept store 'Trendsmith' in Mumbai in December 2001. Encouraged by the response towards its first store, the Zaveris

planned to take Trendsmith (India) Pvt. Ltd. all over the nation by opening as many as 50 stores by 2006. Trendsmith offered eight lines of exclusive designer jewellery from well-known export jewellery manufacturers and designers from Mumbai and Delhi. Indian Customers Showing Interest in Branded Jewellery Posted by RNCOS on October - 27 - 2009 As per our recently published research report Indian Gems and Jewellery Market Future Prospects to 2011, gems and jewellery market in India posses tremendous potential for future growth since it has an added advantage of low production cost and highly skilled labor that separate it from its competitors. It is projected that the overall gems and jewellery market will grow at a CAGR of around 14% during 2009-2012. India possesses worlds most competitive gems and jewellery market due to its low cost of production and availability of skilled labor. As per our new research report Indian Gems and Jewellery Market - Future Prospects to 2011, highly skilled and low cost manpower, along with strong government support in the form of incentives and establishment of SEZs, has been the major driver for the Indian gems and jewellery market. The market also plays a vital role in the Indian economy as it is a leading foreign exchange earner and accounts for more than 12% of Indias total

exports. Currently the Indian market remains highly fragmented, but is rapidly transforming into an organized sector. Currently, the industry is facing a slowdown due to global economic turmoil. But due to various government efforts and incentives coupled with private sector initiatives, the Indian gems and jewellery sector is expected to grow at a CAGR of around 14% from 2009 to 2012. At present, the Indian gems and jewellery market is dominated by the unorganized sector; however, the trend is set to change in near future with the branded jewellery market growing at an expected CAGR of more than 41% in the coming four years. As per our research report, with its consumption pegged at nearly 20%, India remains worlds largest gold consumer and this share is expected to grow further. Given the fact that majority of market share is occupied by family-owned jewelers, the domination of unorganized segment still continues on the Indian gems and jewellery market. However, this scenario is gradually changing with the entrance of organized players who primarily focus on customer satisfaction by giving better and finer quality products. Thus, consumers are now moving towards branded jewellery which is more reliable in terms of quality and design.

With changing customers attitude towards branded jewellery and entrance of organized players in the market, this segment will grow at much faster pace (annual growth of more than 40%) than the overall jewellery market in coming years, said a Research Analyst at RNCOS. The future outlook given in the report is based on past growth trends, current industry and regulatory developments besides base drivers, opportunities and challenges faced by the gems and jewellery industry in India.

CHAPTER 4

OBJECTIVE OF THE STUDY

The objective to study the A comparative study on the consumers preference towards branded jewellery over non branded jewellery is to find out
1) The consumers buying preferences regarding branded and

non branded jewellery 2) To know the reasons for buying branded and non branded jewellery 3) What factors consumer consider while purchasing jewellery.

CHAPTER 5

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. 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. Both type of questions i.e. Open ended and closed ended, would be used. COLLECTION OF DATA
a)

Secondary Data: It was collected from internal sources. The secondary data was collected from the articles, news papers, management books, and the 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 Instrument: Structured Questionnaire

SAMPLE SIZE : 50 respondent The primary data would be collected from

1) The population of Ludhiana city

The secondary data would be collected from: 1) Books 2) Magazines/ Project report 3) Internet 4) Articles The questionnaires response format for the population would be close ended questions. With a mix of question types varying from ranking, multiple choice to checklist questions. The attitude of the respondents would be measured by itemized category scales, pictorial scale.

SCOPE OF THE STUDY

The 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 me 1. Understand the consumers preference while purchasing jewellery 2. How much impact does a brand have on their purchase decision 3. Does price play an important role in guiding their purchase decision

DATA ANALYSIS AND INTERPRETATION Table 1 : Do you like wearing jewellery Particulars Yes No No. of respondents 96 4 % age of respondents 96% 4%

Yes 4%

No

96%

INTERPRETATION Above graph shows that 96% of the respondents are wearing jewellery and 4% are not.

Table 2 : Do you purchase jewellery your self Particulars Yes No No. of respondents 68 32 % age of respondents 68% 32%

Yes

No

32%

68%

INTERPRETATION Above graph shows that 68% of the respondents are purchase your self and 32% are says no.

Table 3 : How often do you Particulars Monthly Yearly Occasionally Festival No. of respondents 16 8 54 22 % age of respondents 16% 8% 54% 22%

Monthly

Yearly

Occasionally

Festival

22%

16% 8%

54%

INTERPRETATION Above graph shows that 54% of the respondents are purchasing occasionally, 22% in festival, 16% are purchasing monthly and 8% yearly

Table 4: Are you aware of various jewelry brand available in the market Particulars Yes No No. of respondents 92 8 % age of respondents 92% 8%

Yes 8%

No

92%

INTERPRETATION Above graph shows that 92% of the are aware of various jewelry brand available in the market and remaining 8% are not

Table 5 : Which jewellery do you prefer Particulars Branded Non-Branded No. of respondents 88 12 % age of respondents 88% 12%

Yes 12%

No

88%

Interpretation Above graph shows that 88% of the respondents are prefer branded jewellery and 12% are aware about non-branded jewellery

Table 6 : If branded then tick against the brand that you Particulars Gilli Tanishq DDmas Nakshtra Kohinoor No. of respondents 20 26 20 14 8 % age of respondents 20% 26% 20% 14% 8%

Gilli

Tanishq

DDmas

Nakshtra

Kohinoor

9% 16% 23%

23%

29%

INTERPRETATION Above graph shows that 26% of the respondents are prefer Tanishq, 20% Gilli, DDmas 20%, 14% Nakshtra and 8% prefer to Kohinoor

Table 7 : If non branded why do you prefer non branded jewelery Particulars No. of respondents % age of respondents

Reliable Economical Less replacement cost Family jewelers

4 2 6 0

33% 17% 50% 0%

Reliable Less replacement cost 0%

Economical Family jewelers

33%

50%

17%

INTERPRETATION Above graph shows that 33% of the respondents says that non branded jewellery is reliable, 50% says it is less replacement cost and remaining says that it is economical

Table 8 : Factors that affect while purchasing jewellery Particulars Design Price Purity Family/friends Varity Status No. of respondents 28 22 12 12 0 0 % age of respondents 28% 22% 12% 12% 0% 0%

Design Family/friends

Price Varity 0%

Purity Status

16%

38% 16%

30%

INTERPRETATION Above graph shows that 28% says that design is affecting their purchase decision, 22% says that it is price, constantly 12% says it is by family / friends and variety

Table 9 : You buy jewllery for

Particulars Investment Fashion Occasion Festival

No. of respondents 26 40 28 6

% age of respondents 26% 40% 28% 6%

Investment

Fashion

Occasion

Festival

6% 26% 28%

40%

The above graph shows that 40% of respondents buy jewellery for fashion , 28% respondents says that they but for occasions , 26% for investment and 6% for festivals.

Table 10 : Do you buy jewllery for gifting purpose Particulars Yes No No. of respondents 74 26 % age of respondents 74% 26%

Yes

No

26%

74%

The above graph shows that 74%respondents says that they buy jewellery for gifting purpose and 26 %says that they dont buy for gifting.

Table 11 : Are you satisfied with your choice ? Particulars Yes No No. of respondents 100 0 % age of respondents 100% 0%

Yes 0%

No

100%

The above graph shows that 100% of respondents says that they are satisfied with their choice.

Table 12. Particulars

Would you like to switch ? No. of respondents 70 18 0 12

Bran to non Brand Non-brand to Non-brand

% age of respondents 70% 18% 0% 12%

Brand to Brand Bran to non Brand Non Brand- Brand Non-brand to Non-brand
Brand to Brand Non Brand- Brand 12%

0% 18%

70%

The above graph shows that 70% of respondents would like to shift from brand to brand , 18% says that brand to non brand , 12 %says that non brand to non brand.

QUESTIONNAIRE Name : _________________________________________ Age : ________________ Sex : _______________________________ Occupation : _____________________ 1. Do you like wearing jewellery a) 2. Yes b) No

Do you purchase jewellery your self a) Yes b) No

3.

How often do you a) c) Monthly Occasionally b) d) Yearly Festival

4.

Are you aware of various jewelry brand available in the market a) Yes b) No

5.

Which jewellery do you prefer a) Branded b) Non Branded

6.

If branded then tick against the brand that you a) c) e) Gilli DDmas Kohinoor b) d) Tanishq Nakshtra

7.

If non branded why do you prefer non branded jewelery a) b) c) d) Reliable Economical Less replacement Cost Family jewllers

8.

Factors that affect while purchasing jewellery a) c) e) Design Purity Variety d) b) Price

Family/Friends f) Status

9.

You buy jewllery for a) c) Investment Occasion b) d) Fashion Festival

10.

Do you buy jewllery for gifting purpose a) Yes b) No

11.

Are you satisfied with your choice ? a) Yes b) No

12.

Would you like to switch ? a) b) c) d) Brand to Brand Bran to non Brand Non Brand- Brand Non-brand to Non-brand