Project report on consumer buying behavior towards branded and non branded jewellery

Presented by-

Group 7Gaurav Khatri

Devendran S.P

Pushpam Shree

Vandana Madhuri Singh

Siddharth Tripathi

Timsi Luthra

INTRODUCTION

As India makes rapid progress in the retail arena, the Indian Jewellery market is undergoing a gradual metamorphosis from unorganized to organized formats.

Jewellery retailing is moving from a ‘Storehouse of value’ to a ‘Precious fashion accessory’.

Consumers are more quality conscious than ever before. The jewellery market is one of the largest consumer sectors in

the country- larger than telecom, automobiles, and apparel and perhaps second only to the foods sector.

Sample size- 50Population- residents of NCR regionSampling design- Random sampling

OBJECTIVESTo study and understand the buying behavior of

consumers for branded and non branded jewelleryTo find the difference b/w perceptions, opinion and

behavior of branded and non- branded jewellery buyers.

To have an idea about parameters consumer consider while buying jewellery

To know the knowledge level of customers regarding the jewellery brands available in the market

DECISION PROBLEM

Why the behavior of consumers towards branded jewellery still not inclined in a proper way as compared to non branded jewellery?

RESEARCH PROBLEMS1) What is the awareness and purchase intention of consumers

while buying jewellery?

2) What kind of designs are preferred by the consumers, traditional or branded?

3) What are the branded jewelers doing to create awareness about their products?

4) Does buying behavior change as per the occasion?

5) Is there any difference in the buying patterns of working women and housewives?

6) How brand conscious are people when they buy jewellery for others?

HYPOTHESIS

The income level of the buyers is same. The expectations of the buyers from the jewelers

remain the same in every situation. Buyers make purchases only during some occasion

like marriages, gifts, etc. More of female buyers are inclined towards the new

designs introduced by the branded jewelers.

Continued..

The selection of jeweler also depends upon the geographical location of buyer.

The knowledge about the branded jewelers is due to the advertisements floating on air.

The price of gold and other precious stones also play a significant role in the purchasing procedure.

BRANDED JEWELLERS

Nakshatra Tiffany Cartier’s Gili Tanishq D’damas Gitanjali Jewels

BRANDED JEWELLERY 

Name & reputation gives a confidence to the consumer It comes with a written lifetime guarantee, considering the

emotional quotient of the consumer Excellent quality, good selling policies and backup services

for jewellery Has a more contemporary stylish and classic outlook, which

easily segments itself among the traditional ones. Available at multiple outlets

NON-BRANDED JEWELLERY

Customer can tailor make jewellery according to their preferences

No written lifetime guarantee, trust is purely based on consumer

Minimum efforts in packaging, finishing, sales & low advertising

Is usually bulky & traditionalAvailable only in traditional jewellery outlets

FINDINGS