Study Consumer Buying Behaviour Diamond Jewellery

Study of Consumer Buying Behaviour on Diamond Jewellery Industry
Executive Summary
The Indian gems and jewellery sector is expected to grow at a compound

annual growth rate (CAGR) of around 14 per cent from 2009 to 2012. The
Indian gem and jewellery industry posted 16 percent growth in exports in
fiscal year 2009-2010 compared with the previous year, according to the
Gem and Jewellery Export Promotion Council (GJEPC). The Indian gem and
jewellery market is dominated by the unorganised sector.
At present, the domestic diamond market is pegged at Rs 12,000 crore

and the total jewellery market in the country is worth Rs 70,000 crore.
According to the CARE report on the Indian gems and jewellery industry,
India dominates the diamond processing trade with 11 out of 12 diamonds
being cut and polished in India. India also dominates the gold and silver
consumption globally with consumption of about 800 tonnes per annum.
The industry provides employment to 1.3 million people. In the global
Diamond market, Indian Diamonds account for 55 percent share in value
terms, 80 percent share in caratege(weight) terms and 90 percent share
in volume terms. Today there is an entire range of Diamond in nearly
every size, quality and cut.
The Indian diamond industry has the world's largest cutting and polishing
industry, employing around 800,000 people (constituting 94 per cent of
global workers) with more than 500 hi-tech laser machines. The industry is
well supported by government policies and the banking sector with
around 50 banks providing nearly $3 billion of credit to the Indian
diamond industry. The Gems & Jewellery Promotion Council is India's
certification authority. The government's Central Board of Excise and
Customs has banned the import or export of rough diamond shipments,
which are not accompanied by a Kimberley Process certificate launched in
Switzerland. Certification for quality diamonds and jewellery has given a
fillip to exports and has resulted in greater acceptance of Indian products
in the world market.
Rizvi Institute of Management Studies & Research


Tanishq is the market leader in the branded Diamond jewellery followed

by Gitanjali Gems Ltd. and Rosy Blue Group. Gem & Jewellery Council has
launch brand ‘Anant’ which is a part of its ongoing India Diamond
Jewellery Promotion (IDJP) campaign, whose sole mission is to promote
Diamond jewellery trade in India. This apex body of the gem & jewellery
industry has played a significant role in the evolution of the Indian gem
and jewellery industry to its present stature.
There are different segment in Diamond jewellery i.e Diamond perfectly

blends with Ruby, Tahitian, Pearl and Gold. This study gives an overview
about the different segment where Diamond jewellery market in India is
concentrated and also helps in understanding the 4C’s i.e Cut, Colour,
Carat, Clarity of the Diamond jewellery.
The report gives insight about the consumer buying behaviour and the
factor which influences it such as cultural factor, social factor, personal
factor and psychological factors. It discusses about the six steps of the
consumer buying decision and also explains the internal and external
parameter of the jewellery industry.
From the research conducted by National Jeweller magazine the top ten
reasons for why women wear Diamond jewellery have been highlighted.
According to a study conducted by JCK magazine 67 percent of all
jewellery is planned purchase and 33 percent is an impulse purchase.
More than 50 percent of jewellery shopper feels that the product quality,
salesperson’s honesty, service, store reputation and salesperson’s
knowledge as important factor. Less than 50 percent of jewellery shopper
feels that store display, brand name, store location, advertising and store
hours as important factor.

The report explains the parameters to consider while buying Diamond

jewellery and explains the different kind of cut which is done on the
Diamond. Now it becomes more important to identify which type of cut for
Diamond jewellery should be purchased. Cut determine how bright the
Diamond will shine. For this purpose the grading are done on the Diamond
jewellery and grades are Ideal Cut, Premium Cut, Very Good Cut, Good Cut
and Fair & Poor Cut.
As we can see that Diamond jewellery is growing at higher space and

even the recession could not affect the growth of the diamond jewellery
there is a need to study the consumer buying behaviour in diamond
jewellery industry. In the past decade more than 40 brands of diamond
jewellery has been launched by the players in the diamond market.
The main purpose of conducting this research is to study the preference of

the diamond jewellery over the other jewellery. An attempt has also being
made to study their preference about the different combination of metal
and stone with the diamond jewellery. An effort has also been made to
understand the buying pattern and the most preferred technical feature if
the diamond jewellery. Since diamond jewellery industry is booming the
report will also provide the information about what sort of promotion
activity influences the purchases of diamond jewellery and what are the

Table of Contents
Table of Contents...................................................................................................5
Chapter 1: Introduction to Indian Jewellery Market................................................1
1.1 Industry Overview.........................................................................................1
1.2 Sector Structure/Market Size........................................................................3
1.3 Retail Sector................................................................................................. 6
1.4 Large Market Opportunity.............................................................................7
1.4.1 Exports................................................................................................... 7
1.4.2 Government Initiatives.........................................................................10
Chapter 2: Diamond Jewellery Market..................................................................11
2.1 Overview of Diamond Jewellery Market in India..........................................11
2.1.1 Certification.............................................................................................12
2.2 Major geographical areas in India were Diamond Market is Concentrated. 13
2.2.2 Northern Group.....................................................................................15
2.3 Major Players in Diamond Jewellery Industry..............................................17
2.3.1 Concept Jewellery India Pvt Ltd............................................................19
2.3.2 Fine Jewellery (India) Limited................................................................20
2.3.3 Gem & Jewellery Export Promotion Council..........................................22
2.3.4 Gitanjali Gems Ltd................................................................................25
2.3.5 Rosy Blue Group...................................................................................27
2.3.6 Sheetal Group of Companies................................................................28
2.3.7 Shrenuj & Company Ltd........................................................................29
2.3.8 Tanishq.................................................................................................30
2.4 Different segment of Diamond jewellery....................................................32
2.5 Technical features of Diamond jewellery....................................................32
2.5.1 4C’s of Diamond Jewellery...................................................................35
2.5.2 Diamond Anatomy ...............................................................................40
Chapter 3: Consumer Buying Behaviour..............................................................42
3.1 Defining Consumer Buying Behaviour........................................................42
3.1.1Cultural Factors.....................................................................................42
3.1.2 Social Factors.......................................................................................42
3.1.3 Personal Factors...................................................................................43

3.1.4 Psychological Factors............................................................................43

3.2 Importance of Consumer Buying Behaviour................................................44
3.3 Consumer Buying Behaviour in Jewellery Industry......................................46
Chapter 4: Relationship of Consumer Buying Behaviour with Diamond Jewellery
Industry................................................................................................................ 47
4.1 Role of Consumer Buying Behaviour in Diamond Jewellery Industry..........47
4.1.1 Parameters to consider while buying Diamond Jewellery.....................50
4.2 Important Attribute of Consumer Buying Behaviour effecting Diamond
Jewellery Industry.............................................................................................55
Chapter 5: Research Methodology.......................................................................56
5.1 Need & Significance....................................................................................56
5.2 Scope ........................................................................................................56
5.3 Methodology...............................................................................................57
5.4 Research Objectives...................................................................................57
5.5 Hypothesis..................................................................................................58
5.6 Limitation of the Study...............................................................................60
5.6.1 Accuracy of the project ........................................................................60
5.6.2 Place of Research.................................................................................61
5.7 Sources of Data Collection..........................................................................62
5.8 Sampling Procedure....................................................................................62
Chapter6: Data Interpretation & Analysis............................................................63
6.1 Summary.................................................................................................. 101
Chapter7: Recommendations.............................................................................104
Annexure...........................................................................................................107
Questionnaire.................................................................................................107
List of Tables...................................................................................................114
a)List of Figures..............................................................................................115
Bibliography.......................................................................................................116
Web Sites........................................................................................................116
Magazines.......................................................................................................116
Books..............................................................................................................116

Chapter 1: Introduction to Indian Jewellery

Market
1.1 Industry Overview
Gems and jewellery has been used by the Indian civilisation since ages for
both its aesthetic as well as investment purposes. Precious metals and
stones have been an integral part of the Indian civilisation since its
recorded history. India has the distinction of being the first country to
introduce diamonds to the world. The country was also the first to mine,
cut & polish and trade in diamonds.
The gems and jewellery industry can be classified into various sub
segments like diamonds, coloured stones, gold and silver jewellery, pearls,
etc. However, the two major segments in India are gold and diamonds.
India dominates the diamond processing trade with 11 out of 12 diamonds
being cut and polished in India. India also dominates the gold and silver
consumption globally. The industry holds prominent significance as it is a
net exporter and provides employment to 1.3 million people directly and
indirectly.
The industry is characterised by highly unorganised trade, labour

intensive operations, working capital & raw material intensiveness, price
volatility of gold especially and export orientation. Demand for gold and
diamond jewellery is driven by festivals and wedding, increasing affluent
and middle class population, increase in per capita spend on luxury items,
etc.
Changing lifestyle and urbanization are also fuelling the growth in the
gems and jewellery industry, mainly in branded jewellery, which is
expected to grow over 40% in the coming years. Urban consumers in India
have become more exposed to western lifestyles, primarily through
Rizvi Institute of Management Studies & Research Page 1

overseas travelling. This has led to increased preference for products and
designs that are popular abroad. For instance, there is a shift towards
machine-made jewellery over the traditional handcrafted jewellery.
The Indian gem and jewellery industry posted 16 percent growth in

exports in fiscal year 2009-2010 compared with the previous year,
according to the Gem and Jewellery Export Promotion Council (GJEPC).
Exports of cut and polished which posted a 20.1-percent rise to $17.5

billion, up from $14.6 billion in the prior financial year.
Cut and polished diamonds accounted for 61.7 percent of India's gem and
jewellery exports, followed by gold jewellery at 31.2 percent and coloured
gemstones with 5.1 percent, according to a media release.
The Indian gems and jewellery sector is expected to grow at a compound

annual growth rate (CAGR) of around 14 per cent from 2009 to 2012.

1.2 Sector Structure/Market Size
The Indian gems and jewellery industry is one of the fastest growing
segments in the Indian economy with an annual growth rate of
approximately 40 per cent.
The domestic market is estimated to be around US$ 16.1 billion and the
All India Gems and Jewellery Trade Federation, a nodal agency
representing 300,000 jewellers across the country, expects it to grow to
US$ 25.2 billion in two to three years.
The country is also the largest consumer of gold in the world. It consumes
nearly 800 tonnes of gold that accounts for 20 per cent of world gold
consumption, of which nearly 600 tonnes go into making jewellery.
India is also emerging as the world's largest trading centre for gold
targeting US$ 16 billion by 2012. The industry has the best skilled
manpower for designing and producing high volumes of exquisite
jewellery at low labour costs.
The Indian consumer population is among the youngest in the world with
nearly two-thirds of the population below 35 years of age. The proportion
of working pollution has also been consistently increasing along with the
increasing per capita income. This has resulted in increasing disposable
income and discretionary spending by Indian consumers leading into a
change in consumer behaviour towards demand for branded and luxury
products.
Research indicates that the rural jewellery market in India is set to grow
strongly despite the global economic meltdown. Overall sales of jewellery

dominated by the plain gold variety in India through 2008 rose by 23 per
cent over 2007 to Rs. 86,000 crores and rural areas accounted for Rs.
52,000 crores. Last year rural areas witnessed a 24 per cent growth in
gold jewellery sales in terms of value.

The reasons attributed for the growth are:
(i) The majority of working women in rural India do not invest in

stocks and shares or use other investment instruments and
they usually invest their surplus money in jewellery.
(ii) The rural families allocate fixed budgets to buy jewellery for
weddings and they buy jewellery at this time irrespective of
whether gold prices are high or not.
(iii) Rural markets are less affected by the global meltdown as
they are agriculture-based.

1.3 Retail Sector
The Indian gems and jewellery market continues to be dominated by the

unorganised sector. However, with the Indian consumer becoming more
aware and quality conscious, branded jewellery is becoming very popular
and the market for branded jewellery is likely to be worth US$ 2.2 billion
by 2010.
Moreover, the government allows 51 per cent FDI in single brand retail
outlets, attracting both global and domestic players to this sector.
Research indicates that the jewellery and watches market is pegged at

about US$ 13.70 billion. It is expected to register a 12 per cent growth by
2012, touching US$ 23.60 billion.
The World Gold Council recently estimated the size of India's gold coin
market at about US$ 2.11 billion.
In order to increase the demand during recession, jewellers are

concentrating on newer designs in light weight jewellery.

1.4 Large Market Opportunity
Changing trends leading to increased consumerism in the Indian retail

market:
1.4.1 Exports
Figure 1.1 – Indian Gems & Jewellery Export in Dec-09
The overall exports of Gems & Jewellery at US$ 1892.32 million (rupees
8823.89 crores) in month of December 2009 is showing a growth of
45.35% (39.34% in rupees term) as compared to US$ 1301.93 million
(rupees 6332.58 crores) of same period previous year.
The higher growth in export & import during December 2009 is in fact due
to the reason that the trade voluntarily stopped the import of Rough
Diamonds for one month (24th November 2008 to 23rd December 2008)
resulting in the decline of import and thus the exports. Also the US

recession and economic down turn seriously affected the overall Exports &
Imports of gem & jewellery during December 2008.

The overall export of Cut & Polished diamonds at of US$ 1289.09 million
(Rupees 6011 crores) in month of December 2009 is showing a growth of
65.68% (58.83% in rupees term) as compared to US$ 778.07 million
(rupees 3784.56 crores) for the same period of previous year. As stated
earlier the growth is due to less export in December 2008.
Provisional export of gold jewellery for December 2009 at US$ 508.62

million (rupees 2371.71 crores) shows growth of 4.38% (growth of 0.07
rupee term) over the comparative figure of US$ 487.27 million (rupess
2370.10 crores) December 2008.
Export of Coloured Gemstones at US$ 15.18 million (in Rupees 70.80

crores) shows a growth of 310.27% (+293.68 in rupee term) during
December 2009 as compared to US$ 3.70 million (rupees 17.99 crores) in
December 2008.

1.4.2 Government Initiatives
The Indian government has provided an impetus to the booming gems

and jewellery industry with favourable foreign trade policies:
 100 per cent foreign direct investment (FDI) in gems and jewellery
through the automatic route is allowed.
 The government has lowered import duty on platinum and has
exempted rough coloured precious gems stones from customs duty.
 Rough, semi-precious stones are also exempt from import duty.
 Duty-free import of consumables for metals other than gold and
platinum up to 2 per cent of freight on board (f.o.b) value of exports.
 Duty-free import entitlement for rejected jewellery up to 2 per cent
of f.o.b value of exports.
 Import of gold of 18 carat and above under the replenishment
scheme.
 Setting up of SEZs and gems and jewellery parks to promote
investment in the sector.
 In May 2007, the government abolished import duty on polished
diamonds.

Chapter 2: Diamond Jewellery Market
2.1 Overview of Diamond Jewellery Market in India
India is the largest diamond cutting and polishing centre in the world—the
industry enjoys 60 per cent value share, 82 per cent carat share and 95
per cent share of the world market in terms of number of pieces. In other
words, nearly 9 out of 10 diamonds sold worldwide are cut and polished in
India. India exported cut and polished diamonds worth US$ 13.02 billion in
2008-09. The gold jewellery market is growing at 15 per cent per annum
and the diamond jewellery market at 27 per cent per annum.
The Indian diamond market is likely to grow at 20 per cent to touch Rs 1-

lakh-crore in the next five years whereas gold will grow at 8-10 per cent
year- on-year.

(Reported on 28th March 2010)
In the global diamond market today, Indian diamonds account for 55 per
cent share in value terms, 80 per cent share in caratage (weight) terms
and 90 per cent share in volume terms. Today there is already availability
of an entire range of diamonds in nearly every size, quality and cut.
India has a large pool of skilled and low cost man power for its gems and
jewellery industry. The country has world’s one of the best skilled
manpower to design and make high volumes of exquisite jewellery at
relatively low labour cost. The cost per carat for cutting and polishing
diamond was US$ 10 in India as compared to US$ 17 in China and US$
150 in Belgium. It also has the largest resource hub in diamond cutting

and processing. Low cost of labour involved in production of finished

diamonds has lured global attention, thereby resulting into the growth of
the industry.
Major portions of the rough, uncut diamonds processed in India are

exported, either in the form of polished diamonds or finished diamond
jewellery. The largest consumer of gold worldwide, India is also the
leading diamond cutting nation.
The Indian gems and jewellery industry is competitive in the world market
due to its low cost of production and the availability of skilled labour. In
addition, the industry has set up a worldwide distribution network, of more
than 3,000 offices for the promotion and marketing of Indian diamonds.
The Indian diamond industry has the world's largest cutting and polishing
industry, employing around 800,000 people (constituting 94 per cent of
global workers) with more than 500 hi-tech laser machines. The industry is
well supported by government policies and the banking sector with
around 50 banks providing nearly $3 billion of credit to the Indian
diamond industry. India is have its diamond bourse functioning at Mumbai.
India is therefore a significant player in the world gems and jewellery

market both as a source of processed diamonds as well as a large
consuming market.
2.1.1 Certification
Following the World Diamond Council's statement on adopting credible

and effective measures against the trade in conflict gems, the Indian
government has tightened its certification process for international trade.

The Gems & Jewellery Promotion Council is India's certification authority.

The government's Central Board of Excise and Customs has banned the
import or export of rough diamond shipments, which are not accompanied
by a Kimberley Process certificate launched in Switzerland. Certification
for quality diamonds and jewellery has given a fillip to exports and has
resulted in greater acceptance of Indian products in the world market.
2.2 Major geographical areas in India were Diamond

Market is Concentrated
India’s diamond processing hub is Surat, contributing over 80 per cent of

the country's diamond processing industry with annual revenue of around
US$ 13.03 billion. In recent years, Dubai, being a port location, had
developed into a diamond distribution centre in West Asia. According to
industry estimates, 10-15 per cent of India's total polished diamond
exports go through Dubai.
The Surat diamond industry cuts and processes 80% of the world’s rough
stones from Belgium. The industry employs close to 4.5 lakh workers in
4,500 units and, till last year, attrition was at 40%
In India, the Diamond trade and offices are located, in Mumbai (Bombay)
& the major manufacturing center is in the near-by city of Surat.
The trade-related areas of interest are Andheri, Bandra and Opera House.
Andheri may be considered as the start point (North) and is where the
International Airport lies. Bandra may be considered as the mid-point &
Opera House may be considered the end point (South). Andheri has the
single largest concentration of jewellery manufacturing facilities in the
world. Bandra is looking forward to the 'Diamond Bourse' - a world class
diamond trading facility, coming up in Mumbai. Opera House area houses
the traditional Diamond district of India; the offices are located within a
radius of less than half a mile.

Diamond mining is concentrated the Indian states of Jharkhand, Madhya

Pradesh, Orissa, Andhra Pradesh and Karnataka.

Grouping is done according to the location of mines
Figure 2.1 – Grouping of Diamond mine according to the location
2.2.1 Southern Group
These mines of the southern group were the most famous and contributed
to the legendary diamonds. The mines were stretched across the vast land
from the Godavari River near Hyderabad to the Pennar River in the south,
as well as the entire span of the Krishna River belt. It comprises a vast
area, which includes parts of Anantapur, Cuddapah, Kurnool, Guntur,
Krishna and West Godavari.
2.2.2 Northern Group

In the Bundelkhand district of the then Central Provinces, between the
rivers Ken and Son lie the northern group of workings. There are three
types of deposits a) alluvial terraces, b) conglomerate rocks and c)
volcanic pipe situated at Majhgawan which lies 12 miles south west of
Panna. The Panna Diamond Mines as they are popularly known, have been
recorded in the 16th century AD. In the earlier days, most of the shallow

gravels especially the alluvial and lateritic as well as the exposed

conglomerates were worked on.
2.2.3 Eastern Group
The eastern group spreads from Chhotanagpur plateau in the basins of

rivers (Sankh and Koel which come together to become river Brahmani) in
the Ranchi District (23° 16': 84° 17') and in Palamau (23°35': 84°21')
where occasionally large diamonds especially blue coloured diamonds
have been found. It is said the area near the Hirakud Dam, Bondisar in
Kalahandi district, various places in the Boudh districts have yielded
diamonds. After the monsoon season, especially after the intense flooding
of the regions, large- sized diamonds were found in the gravel deposits.
Most of this region has Pre-Cambrian rocks and therefore besides
diamonds other gemstones have also been found here. The eastern group
further continues in the Mahanadi river valley in the neighbourhood of
Sambalpur district of Orissa as well as in the Raipur district of the newly
formed Chhatisgarh State.

2.3 Major Players in Diamond Jewellery Industry
Market share of major players is as follows:
Figure 2.2 – Market Share of Major Players in Diamond Industry
The domestic diamond market is pegged at Rs 12,000 crore and the total
jewellery market in the country is worth Rs 70,000 crore.(Reported on
28th March 2010). The domestic market consists of local jewellers, big
jewellery companies without brands and big jewellery companies with
brand.

The market share shown above is of the branded companies with brand
and ‘others’ includes company which doesn’t have brands but they sell
certified Diamond jewellery. Some of these kind of companies are Vaibhav
Gems Ltd., Classic Diamond (India) Ltd.,
Goldiam international Ltd., Su-raj Diamonds & Jewellery Ltd., Rajesh
Exports Pvt. Ltd etc. All these companies totally has the market share of
31%.
Among the branded jewellery Tanishq has the highest market share of
25%, Gitanjali Gem Ltd. has 24%, Shrenuj & company Ltd. has 8%,
Sheetal Group of Companies has 3%, Fine Jewellery (India) Limited has
3%, Concept Jewellery India Pvt Ltd has 2%, Gem & Jewellery Export
Promotion Council has 2% and Rosy Blue Group has 2% of market share.

2.3.1 Concept Jewellery India Pvt Ltd
The brand launched by Concept Jewellery India Pvt Ltd. is Adora. Adora
Diamonds were launched in India in July 2003 by Mumbai based Concept
Jewelry (India) Ltd. On the present day the still expanding retail network
centers of Adora expands to 117 outlets in 47 cities of India. Adora means
glory in Spanish and claims that its diamond collection is themed on love.
Adora diamonds are for adornment of every moment, occasion, and phase
of life through its up and downs.
The Swaranjali signature collection of living legend Lata Mangeshkar is a

unique feature of Adora diamonds. Each piece of Swaranjali collection is
conceptualized and approved by Lata Mangeshkar and bears her laser
printed signature.

2.3.2 Fine Jewellery (India) Limited
The brand launched by Fine Jewellery (I) Limited is Nirvana. Nirvana

Diamonds from Fine Jewellery (I) Ltd. was launched in 2002 in India.
Nirvana diamonds are targeting at fashion conscious, modern and
independent thinking women. Internationally acclaimed Nirvana diamonds
are manufactured by using state-of-the-art technology. As a proof of their
quality Nirvana was among one of the brands to offer lifetime warranty to
its consumers.


2.3.3 Gem & Jewellery Export Promotion Council
The Gem & Jewellery Export Promotion Council (GJEPC) has launch 'Anant',
an exquisite range of single line diamond jewellery exclusively for the
Indian consumer on 17th September 2009. Part of the recently announced
initiative, being jointly undertaken by the GJEPC with retailers,
manufacturers and miners, 'Anant' is the first of its kind initiative by the
industry, for the industry to boost and sustain growth of diamond jewellery
in India. Unveiled by the timeless beauty, Sonam Kapoor; 'Anant' is
available at over 200 retail outlets across the country. Manufacturers and
retailers will sell single line diamond jewellery under the brand name
'Anant'". 'Anant' is part of GJEPC's ongoing India Diamond Jewellery
Promotion (IDJP) campaign, whose sole mission is to promote diamond
jewellery trade in India.

2.3.3.1 Role of Gem & Jewellery Export Promotion Council (GJEPC)
Set-up in 1966, the GJEPC has over the years effectively moulded the
scattered efforts of individual exporters to make the gem and jewellery
sector a powerful engine driving India's export-led growth. This apex body
of the gem & jewellery industry has played a significant role in the
evolution of the Indian gem and jewellery industry to its present stature.
GJEPC is continuously working towards creating a pool of artisans and
designers trained to international standards so as to consolidate the
Indian jewellery industry and establish it as a prominent global player in
the jewellery segment.
The role of GJEPC can be broadly classified under the following categories:
 Trade Facilitator
The Council undertakes direct promotional activities like organising joint
participation in international jewellery shows, sending and hosting trade
delegations, and sustained image building exercises through
advertisements abroad, publications and audio-visuals.
 Advisory Role
Council has also been aiding better interaction and understanding
between the trade and the government. The Council takes up relevant
issues with government and agencies connected with exports and submit
documents for consideration and inclusion in the Exim Policy. The Council
also grants membership, registration certificates and performs other roles
as per the Exim Policy.
 Nodal Agency for Kimberley Process Certification Scheme

GJEPC works closely with the Government of India and the trade to
implement and oversee the Kimberley Process Certification Scheme. To

that effect, the Council has been appointed as the Nodal Agency in India
under the Kimberley Process Certification Scheme.
 Training and Research

The Gems & Jewellery Export Promotion Council runs a number of
institutes that provide training in all aspects of manufacture and design in
Mumbai, Delhi, Surat and Jaipur. These training programs are being
conducted to ensure that the Indian industry achieves the highest levels
of technical excellence.
 Varied Interests
The Council also publishes a number of brochures, statistical booklets,
trade directories and a bi-monthly magazine - Solitaire International,
which is distributed internationally as well as to its members. Finally, the
Council has also developed its own promotional audiovisual film - 'India -
Your First Choice', which is dubbed in various international languages as
well as screened at various trade shows.

2.3.4 Gitanjali Gems Ltd
Gitanjali Gems Limited, a DTC sightholder, is one of the largest integrated

diamond and jewellery manufacturers and retailers in India. Its operations
include sourcing of rough diamonds from primary and secondary source
suppliers in the international market, cutting and polishing the rough
diamonds for export to its international markets, and the sale of diamond
and other jewellery through GGL's retail operations in India, as well as in
international markets.
GGL also sells its branded diamond and other jewellery products under
brands, such as Nakshatra, Lucera, Calgaro, Rivaaz, Desire, Stefan Hafner,
Kashvi, Ezee Diamonds, Maya, Diya, Rosata, Asmi, Gili, D'Damas, Sangini,
Collection G and Vivaha Gold, in India through its network of
approximately 840 outlets. The Gitanjali Group has extensive knowledge
and experience with US product ranges for over two decades.


2.3.5 Rosy Blue Group
Rosy Blue Group launched the brand ORRA in the year 2004. It is the only
jewellery company in India which has tie-ups with the three leading
jewellery organizations namely, DTC (De Beers), PGI (Platinum Guild India)
& WGC (World Gold Council). 1 in every 25 diamonds is a Rosy Blue
diamond. In any size, shape and colour ORRA have a diamond. ORRA has
33 exclusive diamond boutiques across India.

2.3.6 Sheetal Group of Companies
World's largest volume manufacturer of diamonds-Sheetal manufacturing

Company (SMC) launched its exquisite Kiah diamond collection in October,
2004. Kiah diamonds are claims to be for celebrating womanhood. The
brand name 'Kiah' means beautiful place. On the latest Kiah diamonds
have won the Best Showroom in the DTC Diamond
Season for 2005-2006.

2.3.7 Shrenuj & Company Ltd.
Shrenuj & Company is diamond manufacture company which owns brands

such as Amante88, Arisia, Bhavya, Caro74, Fiana, Hot diamonds, Lavanya,
Lorenzo, Lumé, Mastercut, Sveni, Syntila88, Trapz, Valina etc. The
company have 14 distinct brands, each focused on meeting the needs of a
target consumer segment. In 2003, company added retailing operations to
the Group. This completed their pipeline integration, giving a direct route
to take diamonds right through to the consumer.

2.3.8 Tanishq
Tanishq diamonds are India's largest, most desirable and fastest growing
Jewellery brand in India. Tanishq, launched in 1995, is the Jewellery
business group of Titan Industries Ltd. On the present day Tanishq has 84
outlets in 61 cities of India. Tanishq diamonds embark the aspiration of
emerging Indian women who uses tradition rather than being used by it.
Asin is the brand ambassador for Tanishq.
Tanishq diamonds bring together the work of Karigars, who specialize in

different ways of making the Jewellery. Tanishq diamonds comprises
fashion and style in tradition bound category through its innovation driven
'collections' strategy.


2.4 Different segment of Diamond jewellery
Diamonds perfectly blends with Ruby, Tahitian, Pearls and Gold. The
combination of diamonds with gold, ruby and Tahitian pearls gives that
additional touch of elegance to all jewellery, from bracelets to pendants,
from bangles to earrings, from necklaces to rings. Special diamond ruby
necklace or pearl necklace makes you look more gorgeous than ever. The
arrangement of stunning diamonds amidst fine gold gives the touch of
traditional India and at the same time keeps up to the designs of the
current tastes.
Now days, diamonds are combined with sapphires, rubies, emeralds and
many such precious stones in different combinations. They enhance the
owner’s attire as matching designer jewellery. There are other
combinations such as Diamonds with silver, gold, coloured stone, platinum
etc.
2.5 Technical features of Diamond jewellery
Diamond is the purest form of carbon. Carbon has three configurations
 Powder carbon
 Graphite carbon (similar to the lead in your pencil) and
 Diamond
The types of diamonds depend on the molecular arrangement of the

carbon atoms in relation to each other. Diamond is formed under extreme
heat and pressure deep within the Earth's crust, and come to the surface
via volcanoes. Most diamonds are found in rock structures are known as
Kimberlite.

Diamonds are colourless, but there are rare diamonds, which comes in
colours like red, pink, yellow, blue, green, brown and black.

The different shapes of the diamonds –
Round Emerald Heart Marquis Oval Pear Princess

Brilliant e
Figure 2.3 – Different shapes of Diamond

2.5.1 4C’s of Diamond Jewellery
The 4Cs are used throughout the world to classify the rarity of diamonds.
Diamonds with the combination of the highest 4Cs ratings are rarer, and
consequently more expensive. Light is the element that ignites a
diamond’s brilliance and fire. Its interplay with each of the 4Cs will help
explain why one diamond can appear more beautiful than another. The
good news is that you don’t need to buy the rarest diamond to find one
whose beauty speaks to you.
Cut is the only one of the 4Cs of diamonds that is influenced by the
human hand. The rest (colour, clarity and carat) are created naturally as
diamonds form in the earth.
Cut – refers to angles and proportions of a diamond.

Figure 2.4 – Different Angles of Cut

Colour - refers to the degree to which a diamond is colourless.
The colour grading scale of the diamonds varies from totally colorless to
light yellow. The differences between one grade and another are very
subtle, as can be seen by the number of grades within any one category.
The better the colour the higher the price.
Figure 2.5 – Types of Grading for Colour in Diamonds
Carat - refers to the weight of a diamond.
The diamonds are measured in carats (cts.). One carat is divided into 100
points. 1 carat is equal to 20miligrams or 5carats is equal to 1gram
Figure 2.6 – Types of Carat for Diamond

Since diamonds are measured by carat weight, and not size (or diameter),
two diamonds of the same weight could have different sizes.

Clarity - refers to the presence of inclusions in a diamond.
Diamonds brilliance can be hindered by interior or exterior inclusions,

which are called flaws. These inclusions neither mar its beauty nor
endanger the diamond’s durability. It is very difficult to see these
inclusions with the naked eye. Hence the diamonds are graded for clarity.
Figure 2.7 – Types of Clarity in Diamond
FL and IF clarity Internally flawless. Very rare and very

expensive
VVS and VS clarity Very Very slight inclusions
SI1-SI2 clarity Very slight inclusions
I1-I3 clarity very poor quality used as promotional
Terminology used in diamond trade –

1 Pointe Decimal sizes are called pointers i.e. 0.01 is one pointer.
rs
2 Stars Stone sizes from 0.001cts to 0.02cts or 1 and 2 pointers are
called stars
3 Malee Stone sizes from 0.025cts to 0.065cts are called malee.
4 Quarte The stone weight from 0.23cts to 0.25cts.
rs
5 Thirds The stone weight from 0.30cts to 0.33cts.
6 Half’s The stone weight 0.50cts.
7 Solitair Single large stone is called solitaire.
e

2.5.2 Diamond Anatomy
The graphic and supporting text below explain the various "parts" of a
diamond.
Figure 2.8 – Diamond Anatomy
 Diameter
The width of the diamond as measured through the girdle.
 Table
This is the large, flat top facet of a diamond.
 Crown
The upper portion of a cut gemstone, above the girdle.
 Girdle
The narrow rim of a diamond that separates the crown from the
pavilion. It is the largest diameter to any part of the stone.
 Pavilion
The lower portion of the diamond, below the girdle. It is sometimes
referred to as the base.
 Culet
The tiny facet on the pointed bottom of the pavilion, which is the
portion of a cut gem below the girdle.

 Depth
The height of a gemstone, from the culet to the table.

Chapter 3: Consumer Buying Behaviour
3.1 Defining Consumer Buying Behaviour
Consumer Buying Behaviour is the behaviour that a consumer display

while buying the product or a service. Each and every consumer has
his/her own buying behaviour that he displays it during purchase of
different products. This behaviour displayed by the consumer is the result
of a number of influences which he/she receives from the environment.
These influences can be categorized into four factors viz. Cultural factors,
Social factors, Personal factors and Psychological factors.
3.1.1Cultural Factors
Culture, subculture and social classes are particularly important in buying
behaviour. Culture is the fundamental determinant of a person’s wants
and behaviour. Each culture consists of smaller subcultures that provide
more specific identification and socialization of its members. Subculture
includes nationalities, religions, racial groups and geographic regions.
3.1.2 Social Factors

In addition to cultural factors a consumer’s behavior is influenced by such
social factors as reference groups, family and social roles and statuses. A
person’s reference group consists of all the groups that have a direct (face
to face) or indirect influence on the person’s attitudes or behavior. Groups
that have direct influence on a person is called as membership groups.
Some membership groups are also called as primary groups, such as
family, friends, neighbors and coworkers with whom the person interacts
fairly continuously and informally. People also belong to secondary groups
such as religious, professional and trade union groups which tend to be
more formal and require less continuous interaction. Aspirational groups

are those a person hopes to join; dissociative groups are those whose
values and behavior an individual rejects. The family is the most
important consumer buying organization in society, and family members
constitute the most influential primary reference group. A person
participates in many groups-families, clubs, organizations. The person’s
position in each group can be defined in terms of role and status. A role
consists of the activities a person is expected to perform. Each role carries
a status.
3.1.3 Personal Factors

A buyer’s decisions are also influenced by personal characteristics. These
include the buyer’s age in the life cycle, occupation, economic
circumstances, lifestyle and personality and self concept.
People buy different goods and services over a lifetime. They eat baby
food in the early years, most foods in the growing matured years and
special diet in the later years.
Occupation also influences consumption patterns. A blue collar worker
may buy work clothes, work shoes and lunch boxes. A company president
may buy expensive suits, air travel and country club membership.
People from same subculture, social classes and occupation may lead
quite different lifestyles. A lifestyle is a person’s pattern of living in the
world expressed in activities, interest and opinions.
3.1.4 Psychological Factors

A person’s buying choices are influenced by four major factors viz.
motivation, perception, learning, believes and attitudes.

3.2 Importance of Consumer Buying Behaviour
The study of consumer behavior focuses on how individuals make their

decisions to spend their available resources (time, money, effort) on
consumption related itemsor consumption related aspects (What they
buy? When they buy? How they buy?).It also study of individuals, or
organisations and the processes consumers use to search, select, use and
dispose of products, services, experience, or ideas to satisfy needs and its
impact on the consumer and society.
The consumer buying decision has six stages
Figure 3.1 – Process of Consumer Buying Decision

Buyer behaviour is deeply rooted in psychology with dashes of sociology

thrown in just to make things more interesting. Since every person in the
world is different, it is impossible to have simple rules that explain how
buying decisions are made. But those who have spent many years
analysing customer activity have presented us with useful “guidelines” in
how someone decides whether or not to make a purchase. The evaluation
of marketing concept from mere selling concept to consumer oriented
marketing has resulted in buyer behaviour becoming an independent
discipline.
The growth of consumerism and consumer legislation emphasizes the

importance that is given to the consumer. Some consumers are
characterized as being more involved in products and shopping than
others. A consumer who is highly involved with a product would be
interested in knowing a lot about it before purchasing. Hence he reads
brochures thoroughly, compares brands and models available at different
outlets, asks questions, and looks for recommendations. Thus consumer
buying behaviour can be defined as heightened state of awareness that
motivates consumer’s to seek out, attend to, and think about product
information prior to purchase.

3.3 Consumer Buying Behaviour in Jewellery Industry
Consumer buying behaviour in jewellery industry can be studied on the

internal parameters such as
 Carat
 Combination of a particular metal/stone jewellery with other metals
 Colour
 Price
Other parameters external parameters could be studied are
 Popularity of the brand

 Trust in the brand
 Impact of any occasions such as Festivals, Birthday, Anniversary,
Marriage, Engagement etc.
 Celebrity Endorsement
 Promotion
 Wide range of Designs
 Brand Name
 Exhibitions
 Launch of new collections

Chapter 4: Relationship of Consumer Buying

Behaviour with Diamond Jewellery Industry
4.1 Role of Consumer Buying Behaviour in Diamond

Jewellery Industry
A research conducted by National Jeweller magazine uncovered the top

ten reasons women wear diamond jewellery:
 Sentimental value
 To feel good about self
 Express individuality
 Be modern & up-to-date
 Be cool and trendy
 Make a good first impression
 Look professional at work
 Make a good impression on the opposite sex
 Be admired and respected
 Display wealth & status
According to a study by JCK Magazine, about 67 percent of all jewellery is

a planned purchase, while the remaining 33 percent is an impulse
purchase.
When jewellery is a planned purchase, consumers cite “price” as the most

important factor that determines which piece of jewellery they are likely
to buy. After ‘price’, the following factors are most relevant, ranked in
order from most important to less important, according to the JCK
Magazine study.


More than 50 percent of jewellery shoppers cited these factors as most

important:
 Product quality
 Salesperson’s honesty
 Service
 Store reputation
 Salesperson’s knowledge
Less than 50 percent of jewellery shoppers cited these factors as

important:
 Store display
 Brand name
 Store location
 Recommendation by another shopper
 Advertising
 Store hours
Impulse purchases are much more likely to be made by women, according

to a study reported by Money magazine.

4.1.1 Parameters to consider while buying Diamond Jewellery
4.1.1.1Diamond Cut
Don't confuse the diamond's "cut" with the diamond's "shape." "Shape”
refers to the general outward appearance of the diamond, (such as round,
emerald, or pear). When a diamond jeweler (or a diamond certificate) says
"cut," that's a reference to the diamond's reflective qualities, not the
shape. The quality of the "cut" does make a difference in how a diamond
looks.
Diamond cut is perhaps the most important of the four Cs, so it is

important to understand how this quality affects the properties and values
of a diamond. A good cut gives a diamond its brilliance, which is that
brightness that seems to come from the very heart of a diamond. The
angles and finish of any diamond are what determine its ability to handle
light, which leads to brilliance.
As shown in the images below, when a diamond is well-cut, light enters

through the table and travels to the pavilion where it reflects from one
side to the other before reflecting back out of the diamond through the
table and to the observer's eye. This light is the brilliance we mentioned,
and it's this flashing, fiery effect that makes diamonds so mesmerizing.

Figure 4.1 – Different type of Cut in Diamond
In a poorly cut diamond, the light that enters through the table reaches
the facets and then 'leaks' out from the sides or bottom of the diamond
rather than reflecting back to the eye. Less light reflected back to the eye
means less brilliance.
4.1.1.2 Good Proportions are Key

Most gemmologists agree that the best cut diamonds are those that follow
a set of formulae calculated to maximize brilliance. These formulae can be
seen in a diamond's proportions, most importantly how the depth
compares to the diameter, and how the diameter of the table compares to
the diameter of the diamond.
If you opt to buy a diamond without an AGS certificate, spend some time
looking at certified diamonds (where you know the Cut Grade) and train
your eyes to identify the better cuts (by their "sparkle"). Cut does make a
difference to the outward appearance of a diamond.
However, the variance in the proportions between an Ideal Cut and a Poor
Cut can be difficult to discern by the casual observer.
Because cut is so important, several grading methods have been

developed to help consumers determine the cut of a particular diamond.
In general, these grades are:
 Ideal
 Premium
 Very Good
 Good
 Fair & Poor


Which Grade of Cut should one buy?

Selecting the grade of cut is really a matter of preference. To make the
best selection, you need to understand the various grades. Please note
that the descriptions below are general guidelines.
 Ideal
This cut is intended to maximize brilliance, and the typically smaller table
sizes of these diamonds have the added benefit of creating a great deal of
dispersion or 'fire' as well. Ideal quality diamonds are truly for the person
who enjoys knowing that he has one of the finest things that money can
buy. This category applies only to round diamonds.
 Premium
In the case of round diamonds, many Premium Cut diamonds have cuts
that are the equal of any Ideal Cut diamond, though they often can be
purchased at slightly lower prices than AGS Ideal Cuts. They are intended
to provide maximum brilliance and fire. Like the Ideal Cut, these are also
for the person who enjoys knowing that he has one of the finest things
that money can buy.
 Very Good
These diamonds reflect most of the light that enters them, creating a good
deal of brilliance. With these diamonds, the cutters have chosen to stray
slightly from the preferred diamond proportions in order to create a larger
diamond. The result is that these diamonds fall slightly outside of some
customers' preferences in terms of, for example, table size or girdle width,
though, in many cases many of the parameters of diamonds in this range
will overlap with certain parameters of diamonds in the Ideal or Premium
ranges. Generally, the price of these diamonds in slightly below that of
Premium cuts.

 Good
Diamonds that reflect much of the light that enters them. Their
proportions fall outside of the preferred range because the cutter has
chosen to create the largest possible diamond from the original rough
crystal, rather than cutting extra weight off to create a smaller Premium
quality diamond. Diamonds in this range offer an excellent cost-savings to
customers who want to stay in a budget without sacrificing quality or
beauty.
 Fair & Poor

A diamond graded as fair or poor reflects only a small proportion of the
light that enters it. Typically these diamonds have been cut to maximize
the carat weight over most other considerations.

4.2 Important Attribute of Consumer Buying Behaviour

effecting Diamond Jewellery Industry
The important attribute of consumer buying behaviour in diamond

jewellery purchase are as follows
 Location of purchase of Diamond jewellery

 Combination of Diamond jewellery with other metals/stones
 Carat
 Colour
 Cut
 Price
 Popularity of Brand
 Trust in the Brand
 Size
 Any occasions/festivals
 Certifications
 Celebrity Endorsement
 Promotion
 Wide variety of design
 Brand Name
 Exhibitions
 New collection

Chapter 5: Research Methodology
5.1 Need & Significance
The Indian diamond market is growing at 20 per cent to touch Rs 1-lakh-

crore in the next five years whereas gold will grow at 8-10 per cent year-
on-year.

(Reported on 28th March 2010)
Since lot of brand are launched nowadays there is a stiff competition

among the major players in the industry and to attract women to
purchase Diamond jewellery many tactics are been adopted by companies
so this research will help in understanding the buying parameters and the
parameters which influences the purchase of the Diamond jewellery by
women.
5.2 Scope
This research has helped in understanding the preference of Diamond

with different combination of metal jewellery and buying patterns of
women in the purchase of Diamond jewellery. This research has also help
letting us understand which internal parameter of Diamond jewellery is
most important for the women and which promotion activity has most
effect in the purchase of Diamond jewellery.

5.3 Methodology
The methodology used was “Descriptive Research”. The research has a

structured questionnaire where respondents would be interviewed. The
sample size was 100. It comprises of women in the age group of 32 to 55
years and belong to SEC A category and having purchasing power to buy
diamond jewellery. The area for the survey is restricted to the City of
Mumbai.
5.4 Research Objectives
 To identify the segment (Diamond with gold/platinum/silver) under

which diamond jewellery is mostly preferred.
 To identify which parameters play an vital role in the selection of

Diamond Jewellery(Cut, Carat, Clarity, Colour, Size)
 To understand whether Certification plays a vital role in the

purchase of Diamond jewellery.
 To understand what attracts consumer towards Diamond Jewellery

(Celebrity Endorsement, Promotion, Range of Design etc.)
 To identify whether price factor plays an important role in the

purchase of Diamond jewellery

5.5 Hypothesis
Ho: There is no significance difference among the women for the

preference in the Diamond jewellery in different segment like Diamond
with Coloured stone, Diamond with Gold, Diamond with Platinum and
Diamond with Silver.
Ha: There is a significance difference among the women for the
Ho: There is no significance difference among the women in the

preference of Carat, Clarity, Colour, Cut, Price, Popularity of the Brand,
Trust in the Brand and Size for the purchase of Diamond jewellery.
Ha: There is a significance difference among the women in the preference
of Carat, Clarity, Colour, Cut, Price, Popularity of the Brand, Trust in the
Brand and Size for the purchase of Diamond jewellery.

parameters such as Celebrity endorsement, Promotion, Wide Variety of
designs, Brand Name, Exhibition and New Collection which attract
them for the purchase of Diamond jewellery.
Ha: There is a significance difference among the women in the parameters
such as Celebrity endorsement, Promotion, Wide Variety of designs,
Brand Name, Exhibition and New Collection which attract them for the
Ho: Buying a Diamond Jewellery is not a thoughtful process

Ha: Buying a Diamond Jewellery is a thoughtful process
Ho: Certification does not play an important role in purchase of Diamond

jewellery

Ha: Certification plays an important role in purchase of Diamond jewellery

Ho: Purchase of Diamond jewellery is not preferred from the family

jeweller compared to that of Diamond Jewellery
Ha: Purchase of Diamond jewellery is preferred from the family jeweller
compared to that of Diamond Jewellery
Ho: Fashion show of Diamond jewellery does not influences the purchase
of Diamond jewellery
Ha: Fashion show of Diamond jewellery influence the purchase of Diamond
jewellery
Ho: Diamond jewellery is not considered as status symbol for most of the
women
Ha: Diamond jewellery is considered as status symbol for most of the
women
Ho: Purchase of Diamond jewellery is not influenced by Celebrity

endorsement
Ha: Purchase of Diamond jewellery is influenced by Celebrity endorsement
Ho: Gold jewellery does not have more variety in designs compared to
that of Diamond jewellery
Ha: Gold Jewellery has more variety in designs compared to that of
Diamond jewellery
5.6 Limitation of the Study
5.6.1 Accuracy of the project

In this research, a small sample size was surveyed. Hence the conclusion
may not hold good for a large number of people.

5.6.2 Place of Research

The research was conducted only in certain selected places like from
Borivali to Bandra, thus the geographical limitations can be assumed to be
a hurdle in the authenticity of the research.

5.7 Sources of Data Collection
Primary data : Structured Questionnaire (Refer Annexure)

Secondary Data: Internet, Books, Magazine, Previous related study or
research
conducted.
5.8 Sampling Procedure
5.8.1 Technique - Snowball sampling technique, Convenience

sampling technique.
5.8.2 Sample Size - 100
1. Female groups between 30 to 55 yrs of age.
2. SEC A, females having purchasing power of buying Diamond

jewellery or have purchased Diamond jewellery or willing to
purchase in 6 months time.
3. Residing in Mumbai.

Chapter6: Data Interpretation & Analysis
Q1. Do you own Diamond jewellery?
Figure 6.1- Ownership of Diamond Jewellery
Out of the 100 women respondent 67% of women own Diamond jewellery
and 33% of women did not owned the Diamond jewellery.

If ‘No’ are you planning to buy Diamond jewellery in 6 months

time?
Figure 6.2 – Buying Diamond jewellery in 6 months time
In 33% of the women respondent who did not owned the Diamond
jewellery, 67% of women are planning to buy Diamond jewellery in 6
months time and 33% of women are not planning to buy in 6 months time
but these women have the purchasing power of buying Diamond
jewellery.

Q2. Which other stone you would prefer to buy other than
Diamond jewellery?
Figure 6.3 – Preference of other stone on Diamond Jewellery
Among the 33% of women respondent who has the purchasing power of
purchasing Diamond jewellery but do not own it and they are
not planning to buy Diamond jewellery in 6 months time 37%
of these women prefer to buy Ruby, 27% of women prefer to
buy Pearl, 18% of women prefer to buy Topaz, 9% of women
prefer to buy Blue Sapphire and 9% of women prefer to buy
Emerald.

Q3. What kind of Diamond jewellery would you prefer wearing?

(Multiple Choice)
Figure 6.4 – Preference on type of Diamond Jewellery
Among Diamond jewellery such as Bracelet, Earring, Necklace, Pendant

and Ring, Ring is the most preferred jewellery among the 100 women
respondent followed by Earring, Pendant, Necklace and Bracelet.

From the above selection which one is the most important for
you?
Figure 6.5 – Most important Diamond jewellery type of Diamond

Jewellery
Among Diamond jewellery such as Ring, Pendant, Earring, Necklace and

Bracelet, Ring is the most preferred among the 100 women respondent
followed by Earring, Pendant, Necklace and Bracelet

Q4. What is your target price range for buying Diamond

jewellery?
Figure– 6.6 Target price for buying Diamond Jewellery
Among the 100 women respondent 40% of women target price for
purchasing Diamond jewellery is between Rs.30,001 – Rs.50,000 and 33%
of women respondents target price for purchasing Diamond jewellery is
between Rs.15,000 – Rs.30,000. 14% of women respondent target price
for purchasing Diamond jewellery is above Rs.50,000 and 13% of women
respondent target price for purchasing Diamond jewellery is below
Rs.15,000.

Q5. Where would you prefer buying your Diamond jewellery from?
Figure 6.7 – Store preferred for buying Diamond jewellery
Among the 100 women respondent 49% of women prefer to buy Diamond
jewellery from the family jeweller, 37% of women prefer to buy Diamond
jewellery from the big jewellery store, 14% of women prefer to buy
Diamond jewellery from shopping mall and 0% of women prefer buying
Diamond jewellery from e-shopping.

Q6. Rate the following parameters under which segment Diamond

jewellery is mostly preferred by you? (Where 1 = Least important
and 7 = Most important)
1 2 3 4 5 6 7
Diamond with Colored
stone
Diamond with Gold
Diamond with Platinum
Diamond with Silver
Statistics
Diamond_C
oloured_St Diamond_ Diamond_P Diamond_S
one Gold latinum ilver
N Valid 100 100 100 100
Missing 0 0 0 0
Mean 3.74 4.86 5.63 4.65
Std. Error of Mean .193 .179 .147 .196
Median 4.00 5.00 6.00 5.00
Mode 4 7 7 7
Std. Deviation 1.926 1.787 1.475 1.961
Variance 3.709 3.192 2.175 3.846
Skewness .231 -.490 -.954 -.406
Std. Error of Skewness .241 .241 .241 .241
Minimum 1 1 1 1
Maximum 7 7 7 7
Table 6.1 – Statistic for Diamond with Different Combination

Since the mean, median and mode of the Diamond with Platinum are
highest it is the most preferred combination followed by Diamond with
Gold, Diamond with Silver and Diamond with Coloured Stone. The
Diamond with Coloured stone is the least preferred combination.

Ho: There is no significance difference among the women for the

Ha: There is a significance difference among the women for the
Anova: Single Factor
SUMMARY
Avera Varian
Groups Count Sum ge ce
Diamond with Coloured
Stone 100 374 3.74 3.7095
Diamond with Gold 100 486 4.86 3.1923
Diamond with Platinum 100 563 5.63 2.1748
Diamond with Silver 100 465 4.65 3.846
ANOVA
Source of Variation SS df MS F P-value F crit
2.29E- 2.62744
Between Groups 181.3 3 60.433 18.706 11 1
1279.
Within Groups 3 396 3.2307
1460.
Total 6 399
Table 6.2 – Anova for Different Combination of Diamond jewellery
Since the p-value is less than 0.05, at 95% significance level we reject the
Ho.

Hence, there is a significant difference among the women for the

Q7. Rate the following parameters between 1 to 7, to whom you

give prime importance in purchase of Diamond jewellery?
(Where 1 = Least important and 7 = Most important)
1 2 3 4 5 6 7
Carat
Clarity
Colour
Cut
Price
Popularity of the
Brand
Trust in the Brand
Size

Statistics
Cara Clarit Colou Pric Popularity_of_Br Trust_in_Bra
t y r Cut e and nd Size
N Valid 100 100 100 100 100 100 100 100
Missing 0 0 0 0 0 0 0 0
Mean 5.68 6.03 4.92 5.72 5.44 4.85 5.54 5.48
Std. Error
.131 .102 .167 .128 .148 .180 .165 .139
of Mean
Median 6.00 6.00 5.00 6.00 6.00 5.00 6.00 6.00
Mode 7 7 7 7 7 7 7 7
Std. 1.30 1.02 1.67 1.28 1.47 1.38
1.800 1.654
Deviation 9 0 4 0 9 9
Variance 1.71 1.03 2.80 1.63 2.18 1.92
3.240 2.736
5 9 2 8 8 9
Skewness - - -
-.68 -.77
1.00 1.05 -.333 1.02 -.471 -1.322
3 7
9 3 1
Std. Error
of .241 .241 .241 .241 .241 .241 .241 .241
Skewness
Minimum 1 3 1 2 1 1 1 1
Maximum 7 7 7 7 7 7 7 7
Table 6.3 – Statistic for the preference of Characteristic of

Diamond jewellery
Since the mean, median and mode is highest for the Clarity it is the most
important parameter among the women for the purchase of the Diamond
jewellery followed by Cut, Carat, Trust in Brand, Size, Price, Colour and the
least preferred parameter is Popularity of the Brand.


Ha: There is a significance difference among the women in the preference
of Carat, Clarity, Colour, Cut, Price, Popularity of the Brand, Trust in the
Brand and Size for the purchase of Diamond jewellery.
Anova: Single
Factor
SUMMARY
Avera Varian
Carat 100 568 5.68 1.7147
Clarity 100 603 6.03 1.0395
Colour 100 492 4.92 2.8016
Cut 100 572 5.72 1.638
Price 100 544 5.44 2.1883
Popularity of the
Brand 100 485 4.85 3.2399
Trust in the Brand 100 554 5.54 2.7358
Size 100 548 5.48 1.9289
ANOVA
Source of Variation SS df MS F P-value F crit
111.1 1.44E- 2.021
Between Groups 8 7 15.882 7.35 08 1
1711.
1822.
Total 6 799
Table 6.4 – Anova for the preference of Characteristic of Diamond

jewellery

Ho.
Hence, there is a significance difference among the women in the


Q8. What sort of design do you prefer in diamond jewellery in the

following situation?
Trendy Tradition Evergree Doesn’t Matter

al n
Anniversary
Birthday
Engagement
Festivals
Valentine’s
Day
Wedding
Figure 6.8 – Designs preferred for different occasion
On the occasion of Anniversary, out of 100 women respondent 34% of

women preferred evergreen design, 29% of women preferred trendy

design, 21% of women preferred traditional design and for 16% of women
choosing a type of design for the occasion of anniversary doesn’t matter.
On the occasion of Birthday, out of 100 women respondent 50% of women

preferred trendy design, 21% of women preferred evergreen design, for
16% of women choosing a design for the occasion of birthday doesn’t
matter and 13% of women preferred traditional design.
On the occasion of Engagement, out of 100 women respondent 40% of

women preferred traditional design, 28% of women preferred evergreen
design, 17% of women preferred trendy design and for 15% of women
choosing a type of design for the occasion of engagement doesn’t matter.
On the occasion of Festivals, out of 100 women respondent 42% of women

preferred traditional design, 22% of women preferred evergreen design,
for 20% of women choosing a design for the occasion of festival doesn’t
matter and 16% of women preferred trendy design.
On the occasion of Valentine’s Day, out of 100 women respondent 53% of

women preferred trendy design, 27% of women preferred evergreen
design, for 18% of women choosing a design for the occasion of
valentine’s day doesn’t matter and 2% of women preferred traditional
design.
On the occasion of Wedding, out of 100 women respondent 44% of

women preferred traditional design, 31% of women preferred evergreen
design, 14% of women preferred trendy design and for 11% of women
choosing a type of design for the occasion of engagement doesn’t matter.

Q9. What kind of Diamond jewellery do you prefer?
Figure 6.9 Preference for Certification of Diamond jewellery
Out of the 100 women respondent, 41% of women prefer buying branded
Diamond jewellery with certification, 38% of women prefer buying
Diamond jewellery from family jeweller with certification, 12% of women
prefer buying Diamond jewellery which is just certified and 9% of women
prefer buying Diamond jewellery from family jeweller without certification.

Q10. Would you be ready to spend more money to get Certified

Diamond jewellery?
Figure 6.10 Ready to spend more money for Certification
Among the 100 women respondent, 81% of women are ready to spend
more money to get certified Diamond jewellery and 19% of women are not
ready to spend more money to get certified Diamond jewellery.

If ‘Yes’ how much percentage of money, extra will you pay

compared with uncertified jewellery?
Figure
6.11 –
Percentage of Money women like to play more for certification
Out of the 81% of women respondent who would like to spend more
money to get certified Diamond jewellery, 29% of women are ready to pay
6 percent more compared to that of uncertified Diamond jewellery, 26% of
women are ready to pay 4 percent more compared to that of uncertified
Diamond jewellery, 22% of women are ready to pay 8 percent more
compared to that of uncertified Diamond jewellery, 12% of women are
ready to pay 10 percent more compared to that of uncertified Diamond
jewellery and 11% of women are ready to pay 2 percent more compared
to that of uncertified Diamond jewellery.

Q11. Rate the following parameters which attract you towards

diamond jewellery purchase? (Where 1 = Least important and
7 = Most important)
1 2 3 4 5 6 7
Celebrity endorsement
Promotion
Wide variety of designs to

choose from
Brand Name
Exhibitions
New collections

Statistics
Celebrity_Endors Promoti Wide_Ra Brand_Na Exhibiti New_Collec
ement on nge me on tion
N Valid 100 100 100 100 100 100
Missi
0 0 0 0 0 0
ng
Mean 3.06 3.92 5.45 4.66 4.01 5.51
Std.
Error of .180 .157 .137 .173 .167 .145
Mean
Median 3.00 4.00 6.00 5.00 4.00 6.00
Mode 1 4 7 4a 3 6
Std.
Deviati 1.802 1.568 1.366 1.730 1.667 1.446
on
Varianc
3.249 2.458 1.866 2.994 2.778 2.091
e
Skewn
.637 -.122 -.524 -.401 .091 -1.197
ess
Std.
Error of
.241 .241 .241 .241 .241 .241
Skewn
ess
Minimu
1 1 2 1 1 1
m
Maxim
7 7 7 7 7 7
um
Table 6.5 – Statistic for the parameter which attract for purchase

Since the mean, median and mode is highest for the New Collection it is
the most important parameter which attract women for the purchase of
the Diamond jewellery followed by Wide Range, Brand Name, Exhibition,
Promotion and the least preferred parameter is Celebrity Endorsement.


designs, Brand Name, Exhibition and New Collection which attract
them for the purchase of Diamond jewellery.
Ha: There is a significance difference among the women in the parameters
such as Celebrity endorsement, Promotion, Wide Variety of designs,
Brand Name, Exhibition and New Collection which attract them for the
Anova: Single Factor
SUMMARY
Avera Varian
Celebrity
endorsement 100 306 3.06 3.2489
Promotion 100 392 3.92 2.4582
Wide Variety of
Designs 100 545 5.45 1.8662
Brand Name 100 466 4.66 2.9943
Exhibition 100 401 4.01 2.7777
New Collection 100 551 5.51 2.0908
ANOVA
P-
Source of Variation SS df MS F value F crit
457.2 2.229
Between Groups 9 5 91.459 35.55 7E-32 2
1528.
1985.
Total 5 599

Table 6.6 – Anova for the parameter which attract for purchase of
Diamond jewellery

Ho.
Hence there is a significance difference among the women in the

designs, Brand Name, Exhibition and New Collection which attract them
for the purchase of Diamond jewellery.

Q12. Rate the following statements with the following options

given below:
Strongl Disagr Neutr Agre Strongl

y ee al e y
Disagr Agree
ee
Buying an Diamond jewellery is
a thoughtful process
Certification plays an important
role in purchase of Diamond
jewellery
Purchase of Diamond jewellery
is mostly preferred from the
family jeweler compared to that
of branded jewellery store
Fashion show of Diamond
jewellery influences the
Diamond jewellery is considered
as status symbol for most of the
women
by women is influenced by
Gold jewellery has more variety
in designs compared to that of
Diamond jewellery

Statistics
Imp_o Family_Jewe Influenc Influence_ Design_
Though f_Certi ler_over_Bra e_of_Fas Status of_Celebrit Gold_ov
tful_Pro ficatio nded_Jewell hion_Sh _Sym y_Endorse er_Diam
cess n ery ow bol ment ond
N Valid 100 100 100 100 100 100 100
Mean 4.17 4.05 3.33 2.98 4.29 2.93 3.18

Std.
Error of .075 .098 .120 .108 .077 .114 .126
Mean
Median 4.00 4.00 3.50 3.00 4.00 3.00 3.00
Mode 4 4 4 3 5 2 4
Std.
Deviatio .753 .978 1.198 1.082 .769 1.139 1.258
n
Variance .567 .957 1.435 1.171 .592 1.298 1.583
Minimu
2 1 1 1 2 1 1
m
Maximu
5 5 5 5 5 5 5
m
Table 6.7 – Statistic for Different Statements

Ho: Buying a Diamond Jewellery is not a thoughtful process

Ha: Buying a Diamond Jewellery is a thoughtful process
Thoughtful_Process
Observed Expected
N N Residual
Disagree 2 25.0 -23.0
Neutral 15 25.0 -10.0
Agree 47 25.0 22.0
Strongly
36 25.0 11.0
Agree
Total 100
Table 6.8 – Observed and Expected value for Thoughtful Process
Test Statistics
Thoughtful_Process
Chi-Square 49.360a
Df 3
Asymp. Sig. .000
Table 6.9 – Test Statistics for Thoughtful Process
Ho.
Hence, Buying a Diamond jewellery is a thoughtful process.

Ho: Certification does not play an important role in purchase of Diamond

jewellery
Ha: Certification plays an important role in purchase of Diamond jewellery
Imp_of_Certification
Observed Expected
N N Residual
Strongly
1 20.0 -19.0
Disagree
Disagree 10 20.0 -10.0
Neutral 9 20.0 -11.0
Agree 43 20.0 23.0
Strongly Agree 37 20.0 17.0
Total 100
Table 6.10 – Observed and Expected value for Importance of

Certification
Test Statistics
Imp_of_Certificatio
n
Chi-
70.000a
Square
Df 4
Asymp.
.000
Sig.
Table 6.11 – Test Statistics for Importance of Certification
Ho.

Hence, Certification plays an important role in purchase of Diamond

jewellery.

Ho: Purchase of Diamond jewellery is not preferred from the family

jeweller compared to that of Branded Diamond Jewellery
Ha: Purchase of Diamond jewellery is preferred from the family jeweller
compared to that of Branded Diamond Jewellery
Family_Jeweller_over_Branded_Jewellery
Expected
Observed N N Residual
Strongly
7 20.0 -13.0
Disagree
Disagree 21 20.0 1.0
Neutral 22 20.0 2.0
Agree 32 20.0 12.0
Strongly Agree 18 20.0 -2.0
Total 100
Table 6.12 – Observed and Expected value for preference of

Family jeweller over Branded jewellery store
Test Statistics
Family_Jeweller_over_Branded_Jew
ellery
Chi-
16.100a
Square
Df 4
Asymp.
.003
Sig.
Table 6.13 – Test Statistics for preference of Family jeweller over

Branded jewellery store
Ho.

Hence, Purchase of Diamond jewellery is preferred from the family

jeweller compared to that of Diamond Jewellery.

Ho: Fashion show of Diamond jewellery does not influences the purchase
Ha: Fashion show of Diamond jewellery influence the purchase of Diamond
jewellery
Influence_of_Fashion_Show
Observed Expected
N N Residual
Strongly
8 20.0 -12.0
Disagree
Neutral 38 20.0 18.0
Agree 19 20.0 -1.0
Total 100
Table 6.14 – Observed and Expected value Influence of Fashion

show
Test Statistics
Influence_of_Fashion_Sh
ow
Chi-
29.700a
Square
Df 4
Asymp.
.000
Sig.
Table 6.15 – Test Statistics for Influence of Fashion show
Ho.

Hence, Fashion show of Diamond jewellery influences the purchase of

Diamond jewellery.
Ho: Diamond jewellery is not considered as status symbol for most of the
women
Ha: Diamond jewellery is considered as status symbol for most of the
women
Status_Symbol
Observed Expected
N N Residual
Disagree 3 25.0 -22.0
Neutral 10 25.0 -15.0
Agree 42 25.0 17.0
Strongly
45 25.0 20.0
Agree
Total 100
Table 6.16 – Observed and Expected value for Status Symbol
Test Statistics
Status_Symbol
Chi-
55.920a
Square
Df 3
Asymp.
.000
Sig.
Table 6.17 – Test Statistic for Status Symbol
Ho.

Hence, Diamond jewellery is considered as status symbol for most of the

women.

Ho: Purchase of Diamond jewellery is not influenced by Celebrity

endorsement
Ha: Purchase of Diamond jewellery is influenced by Celebrity endorsement
Influence_of_Celebrity_Endorsement
Observed Expected
N N Residual
Strongly
9 20.0 -11.0
Disagree
Disagree 31 20.0 11.0
Neutral 28 20.0 8.0
Agree 22 20.0 2.0
Total 100
Table 6.18 – Observed and Expected value for Celebrity

Endorsement
Test Statistics
Influence_of_Celebrity_Endorsem
ent
Chi-
20.500a
Square
df 4
Asymp.
.000
Sig.
Table 6.19 – Test Statistics for Celebrity Endorsement
Ho.

Hence, Purchase of Diamond jewellery is influenced by Celebrity

endorsement but it its mean, median and mode is the lowest among all
the other parameter thus celebrity endorsement is of least important.

Ho: Gold jewellery does not have more variety in designs compared to
Ha: Gold Jewellery has more variety in designs compared to that of
Diamond jewellery
Design_Gold_over_Diamond
Observed Expected
N N Residual
Strongly
11 20.0 -9.0
Disagree
Neutral 24 20.0 4.0
Agree 27 20.0 7.0
Total 100
Table 6.20 – Observed and Expected value for Gold jewellery

having more design over Diamond jewellery
Test Statistics
Design_Gold_over_Diam
ond
Chi-
7.800a
Square
Df 4
Asymp.
.099
Sig.
Table 6.21 – Test Statistics for Gold jewellery having more design
over Diamond jewellery
Since the p-value is greater than 0.05, at 95% significance level we accept
the Ho.

Hence, Gold jewellery does not have more variety in designs compared to
6.1 Summary
 Most of the women respondent owned diamond jewellery and

among those who did not owned there are the higher percentage of
women who are willing to buy Diamond jewellery in 6 months time.
Hence the market growth potential for Diamond jewellery market is
very high.
 The women respondents who has the purchasing power of

purchasing Diamond jewellery but do not own it and they are not
planning to buy Diamond jewellery in 6 months time these women
prefer to buy Ruby, Pearl, Topaz, Blue Sapphire and Emerald.
 Among Diamond jewellery such as Bracelet, Earring, Necklace,

Pendant and Ring, Ring is the most preferred jewellery followed by
Earring, Pendant, Necklace and least preferred is Bracelet.
 Most of the women target price for purchasing Diamond jewellery is

Rs.15,000 to Rs.50,000.
 Women prefer to buy Diamond jewellery from the family jeweller but
the number of women purchasing Diamond jewellery from big
jewellery Store is also quite high. There are a small percentage of
women who prefer to buy Diamond jewellery from shopping mall
and no women prefer buying Diamond jewellery from e-shopping.

 In the different Diamond jewellery combinations Diamond with

Platinum is the most preferred combination by women followed by
Diamond with Gold, Diamond with Silver and the Diamond with
Coloured Stone is the least preferred combination.

 In the purchase of Diamond jewellery importance given by women

to Clarity is the highest followed by Cut, Carat, Trust in Brand, Size,
Price, Colour and the least preferred parameter is Popularity of the
Brand.
 On the occasion of Anniversary evergreen design is most preferred

by women, on the occasion of Birthday trendy design is most
preferred by women, on the occasion of Engagement traditional
design is most preferred by women, on the occasion of Festivals
traditional design is most preferred by women, on the occasion of
Valentine’s Day trendy design is most preferred by women and on
the occasion of Wedding traditional design is most preferred by
women.
 Among women most of the women prefer buying Diamond jewellery

with certification and were few women prefer to buy Diamond
jewellery without certification.
 Most of the women are ready to spend more to buy the Diamond
jewellery with certification and they are easily ready to spend 4 to 8
percent more on the Diamond jewellery compared to that of
uncertified Diamond jewellery.
 Among the women respondent the thing which attract the most
towards the purchase of Diamond jewellery is the New Collection
followed by Wide Range of design, Brand Name, Exhibition,
Promotion and the least preferred parameter is Celebrity
Endorsement.

 For all the women respondent agreed that buying an diamond

jewellery is an thoughtful process, Certification of diamond jewellery
is important to them, family jeweller has more preference than big
jeweller store in purchase of Diamond jewellery, Diamond jewellery
is considered as status symbol for most of the women, the influence
of celebrity endorsement on the purchase of Diamond jewellery is
least, Diamond jewellery has the equal variety of design compared
to that of Gold jewellery and the influence of fashion show of
Diamond jewellery on the purchase of Diamond jewellery is very
less.
Chapter7: Recommendations
 Diamond jewellery industry is expected to grow at a higher rate as

there quite higher number women who would prefer buying
Diamond jewellery and Diamond jewellery is considered as the
status symbol among the women.
 There should more variety and range in Ring diamond jewellery as

this is the most preferred by women as it has an emotional
attachment for women.
 Family jeweller is preferred the most for buying the Diamond

jewellery but big jewellery store is catching up so the companies
should focus on providing more number of branded outlets and
should not concentrate on trying to improve sales from shopping
malls.

 There should be more designs and variety in Diamond jewellery

combination with platinum.
 Clarity is most considered parameter in purchase of Diamond

jewellery and women are ready to spend more for acquiring it, so
this parameter should be given more importance.
 There should be more traditional design in Diamond jewellery during

the wedding season i.e during summers and winter holidays.
 Certified Diamond jewellery should be charged around 6 to 8

percent more than the uncertified diamond jewellery as women
prefer Diamond jewellery with certification and they are easily ready
to spend more on it.

 Launch of new collection attracts women to purchase Diamond

jewellery and celebrity endorsement doesn’t attract women or least
attracts women to purchase Diamond jewellery. Hence the
companies should not do celebrity endorsement.
 There is a myth that gold jewellery has more variety compared to

that of Diamond jewellery and women feel there is a equal variety of
design in Diamond jewellery compared to that of Diamond jewellery.

Annexure
Questionnaire
Q1. Do you own Diamond jewellery?
Yes No
If ‘Yes’ go to Q3.
If ‘No’ are you planning to buy Diamond jewellery in 6 months time?
Yes No
If ‘Yes’ go to Q3.
Q2. Which other stone you would prefer to buy other than Diamond?
__________________________________________________________
Q3. What kind of Diamond jewellery would you prefer wearing? (Multiple
Choice)
Bracelet
Earring
Necklace
Pendant
Ring

From the above selection which one is the most important for you? (Any
One Only)
____________________________________________________

Why do you prefer this over others mentioned above?
__________________________________________________________________
Q4. What is your target price range for buying Diamond jewellery?
Below Rs.15000
Rs. 15000 - Rs. 30,000
Rs. 30,001 - Rs. 50,000
Above Rs. 50,000
Q5. Where would you prefer buying your Diamond jewellery from?
E-Shopping
Family jeweler
Shopping malls
Big jewellery stores
Other (please specify) __________________________________________
Q6. Rate the following parameters under which segment Diamond

jewellery is mostly preferred by you? (Where 1 = Least
important and 7 = Most important)
1 2 3 4 5 6 7
Diamond with Colored stone
Diamond with Gold
Diamond with Platinum
Diamond with Silver

Q7. Rate the following parameters between 1 to 7, to whom you give

prime importance in purchase of Diamond jewellery? (Where 1
= Least important and 7 = Most important)
1 2 3 4 5 6 7
Carat
Clarity
Color
Cut
Price
Popularity of the Brand
Trust in the Brand
Size
Q8. What sort of design do you prefer in diamond jewellery in the

following situation?
Trendy Tradition Evergree Doesn’t Matter

al n
Anniversary
Birthday
Engagement
Festivals
Valentine’s Day
Wedding
Others (please specify
below)

Q9. What kind of Diamond jewellery do you prefer?
Any Certified jewellery

Branded jewellery with certification
Jewellery from family jeweler without certification
Jewellery from family jeweler with certification
Others (please specify)
______________________________________________
Q10. Would you be ready to spend more money to get Certified Diamond
jewellery?
Yes No
If ‘Yes’ how much percentage of money, extra will you pay compared with
uncertified jewellery?
2% 4% 6% 8% 10%

Q11. Rate the following parameters which attract you towards diamond
jewellery purchase? (Where 1 = Least important and 7 = Most important)
1 2 3 4 5 6 7
Promotion
Wide variety of designs to
choose from
Brand Name
Exhibitions
New collections
Others(please specify below)

Q12. Rate the following statements with the following options given below
Strongl Disagr Neutr Agre Strongl

y ee al e y
Disagr Agree
ee
Buying an Diamond jewellery is
a thoughtful process
Certification plays an important

role in purchase of Diamond
jewellery

is mostly preferred from the
family jeweler compared to that
of branded jewellery store
Fashion show of Diamond

jewellery influences the
Diamond jewellery is considered

as status symbol for most of the
women

by women is influenced by
Gold jewellery has more variety

in designs compared to that of

Diamond jewellery
List of Tables
Sr. Name Page

No. No.
6.1 Statistic for Diamond with Different Combination 56
6.2 Anova for Different Combination of Diamond jewellery 58
6.3 Statistic for the preference of Characteristic of Diamond 60
jewellery
6.4 Anova for the preference of Characteristic of Diamond 61
jewellery
6.5 Statistic for the parameter which attract for purchase of 69
Diamond jewellery
6.6 Anova for the parameter which attract for purchase of 71
Diamond jewellery
6.7 Statistic for Different Statements 74
6.8 Observed and Expected value for Thoughtful Process 75
6.9 Test Statistics for Thoughtful Process 75
6.10 Observed and Expected value for Importance of 76
Certification
6.11 Test Statistics for Importance of Certification 76
6.12 Observed and Expected value for preference of Family 77
jeweller over Branded jewellery store
6.13 Test Statistics for preference of Family jeweller over 77
Branded jewellery store
6.14 Observed and Expected value Influence of Fashion show 78
6.15 Test Statistics for Influence of Fashion show 78
6.16 Observed and Expected value for Status Symbol 79
6.17 Test Statistic for Status Symbol 79
6.18 Observed and Expected value for Celebrity Endorsement 80
6.19 Test Statistics for Celebrity Endorsement 80
6.20 Observed and Expected value for Gold jewellery having 81
more design over Diamond jewellery
6.21 Test Statistics for Gold jewellery having more design 81
over Diamond jewellery

a) List of Figures
Sr. Name Page

No. No.
1.1 Indian Gems & Jewellery Export in Dec-09 6
2.1 Grouping of Diamond mine according to the location 12
2.2 Market Share of Major Players in Diamond Industry 14
2.3 Different shapes of Diamond 27
2.4 Different Angles of Cut 28
2.5 Types of Grading for Colour in Diamonds 29
2.6 Types of Carat for Diamond 29
2.7 Types of Clarity in Diamond 30
2.8 Diamond Anatomy 31
3.1 Process of Consumer Buying Decision 34
4.1 Different type of Cut in Diamond 39
6.1 Ownership of Diamond Jewellery 49
6.2 Buying Diamond jewellery in 6 months time 50
6.3 Preference of other stone on Diamond Jewellery 51
6.4 Preference on type of Diamond Jewellery 52
6.5 Most important Diamond jewellery type of Diamond 53
Jewellery
6.6 Target price for buying Diamond Jewellery 54
6.7 Store preferred for buying Diamond jewellery 55
6.8 Designs preferred for different occasion 63
6.9 Preference for Certification of Diamond jewellery 65
6.10 Ready to spend more money for Certification 66
6.11 Percentage of Money women like to play more for 67
certification

Bibliography
Web Sites
 ho.shrenuj.com
 www.fine-jewellery.com
 www.gitanjaligroup.com
 www.gjepc.org
 www.ibef.org
 www.moneycontrol.com
 www.myadora.com
 www.rosyblue.com
 www.sheetalgroup.com
 www.tanishq.co.in
Magazines
 Diamond Digest
 International Business Times
 National Jeweller
 The Art of Jewellery Making
Books
 Consumer Behaviour Basic Findings & Management Implications
 Marketing Whitebook

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Study of Consumer Buying Behaviour on Diamond Jewellery Industry

The Indian gems and jewellery sector is expected to grow at a compound

At present, the domestic diamond market is pegged at Rs 12,000 crore

Rizvi Institute of Management Studies & Research

Rizvi Institute of Management Studies & Research

Tanishq is the market leader in the branded Diamond jewellery followed

There are different segment in Diamond jewellery i.e Diamond perfectly

Rizvi Institute of Management Studies & Research

The report explains the parameters to consider while buying Diamond

As we can see that Diamond jewellery is growing at higher space and

The main purpose of conducting this research is to study the preference of

Rizvi Institute of Management Studies & Research

Rizvi Institute of Management Studies & Research

3.1.4 Psychological Factors............................................................................43

Rizvi Institute of Management Studies & Research

Chapter 1: Introduction to Indian Jewellery

1.1 Industry Overview

The industry is characterised by highly unorganised trade, labour

Rizvi Institute of Management Studies & Research Page 1

The Indian gem and jewellery industry posted 16 percent growth in

Exports of cut and polished which posted a 20.1-percent rise to $17.5

The Indian gems and jewellery sector is expected to grow at a compound

Rizvi Institute of Management Studies & Research Page 2

1.2 Sector Structure/Market Size

Rizvi Institute of Management Studies & Research Page 3

Rizvi Institute of Management Studies & Research Page 4

The reasons attributed for the growth are:

(i) The majority of working women in rural India do not invest in

Rizvi Institute of Management Studies & Research Page 5

1.3 Retail Sector

The Indian gems and jewellery market continues to be dominated by the

Research indicates that the jewellery and watches market is pegged at

In order to increase the demand during recession, jewellers are

Rizvi Institute of Management Studies & Research Page 6

1.4 Large Market Opportunity

Changing trends leading to increased consumerism in the Indian retail

Figure 1.1 – Indian Gems & Jewellery Export in Dec-09

Rizvi Institute of Management Studies & Research Page 7

Rizvi Institute of Management Studies & Research Page 8

Provisional export of gold jewellery for December 2009 at US$ 508.62

Export of Coloured Gemstones at US$ 15.18 million (in Rupees 70.80

Rizvi Institute of Management Studies & Research Page 9

1.4.2 Government Initiatives

The Indian government has provided an impetus to the booming gems

Rizvi Institute of Management Studies & Research Page 10

Chapter 2: Diamond Jewellery Market

2.1 Overview of Diamond Jewellery Market in India

The Indian diamond market is likely to grow at 20 per cent to touch Rs 1-

At present, the domestic diamond market is pegged at Rs 12,000 crore

Rizvi Institute of Management Studies & Research Page 11

and processing. Low cost of labour involved in production of finished

Major portions of the rough, uncut diamonds processed in India are

India is therefore a significant player in the world gems and jewellery

Following the World Diamond Council's statement on adopting credible

Rizvi Institute of Management Studies & Research Page 12

The Gems & Jewellery Promotion Council is India's certification authority.

2.2 Major geographical areas in India were Diamond

India’s diamond processing hub is Surat, contributing over 80 per cent of

Rizvi Institute of Management Studies & Research Page 13

Diamond mining is concentrated the Indian states of Jharkhand, Madhya

Rizvi Institute of Management Studies & Research Page 14

Grouping is done according to the location of mines