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By: Preetika

Arora, 4363
A PROJECT REPORT
On

COMPARATIVE ANALYSIS OF CONSUMER PERCEPTION TOWARDS BRANDED AND IMITATED JEWELLERY

Submitted to
SUBMITTED TO:

KURUKSHETRA UNIVERSITY, KURUKSHETRA FOR THE AWARD DEGREE OF BACHELOR OF COMMERCE WITH VOCATIONAL SUBJECT ADVERTISEMENT AND SALES PROMOTION & SALES MANAGEMENT

UNDER GUIDANCE OF:

SUBMITTED BY:

Ms. Meenu Gulati Lecturer of Commerce, D. A. V. College for Girls, Ynr

Preetika Arora B.Com-IInd Roll No.-4363 Univ. Roll No.____________

D. A. V. COLLEGE FOR GIRLS


YAMUNA NAGAR - 135001
By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

ACKNOWLEDGEMENT
I owe a never ending debt of gratitude to my adored and worshipful Almighty for his grace and blessings in the completion of this text. My deep gratitude is due to our concerned lecturer Ms. Meenu Gulati for their value able suggestion for my project work which has been benefited me immensely to complete my report work successfully. We also thankful to Dr. Sushma Arya, Principal, of our college for their valuable guidance. Last but not least I will thank to all friends and family.

Preetika Arora B.Com-IInd

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

CONTENTS
Topic INTRODUCTION Introduction to Theme Introduction to Industry Profile Significance of study Literature Review Pg.No.

APPROACH TO STUDY

Research Methodology

DATABASE REPORT GATHERED Data Interpretation And Analysis

FINDINGS & BIBLIOGRAPHY Limitations Recommendations Conclusions Bibliography

QUESTIONNAIRE

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

INTRODUCTION TO THEME
Management ideas without any action based on them mean nothing. That is why practical experience is vital for any management studies. Theoretical studies in the class room are not sufficient to understand the functioning climate and the real problems coming in the way of management. So, practical exposures are indispensable to such courses. Thus, practical experience acts as a supplement to the class room studies. This report deals comparative analysis of consumer perception towards imitation and branded jewellery. In the forthcoming pages, an attempt has been made to present a comprehensive report concerning different aspect of my research report, the overall knowledge gained by me is reflects in the report itself. Main objective of this project is to analyze the consumer behavior towards jewellery. What factor effects consumer purchase behavior and their choice. And which type of jewellery consumer prefers on occasion.

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

INTRODUCTION TO JEWELLERY INDUSTRY

Jewellery Manufacturing started in 1400 BC in Greece


In ancient Greece, beads shaped as natural forms like shells, flowers and beetles were manufactured on a large scale. By 300 BC the Greeks were making multi coloured jewellery and used emeralds, garnets, amethysts and pearls. Right - Greek earrings.

Italian Gold and Roman Coinage


Eight centuries BC the Italian Etruscans in the Tuscany region produced granulated textured gold work. They made large fibulae or clasps, necklaces, bracelets and earrings. The Italians are still renowned for high quality stylish trend making gold work today. In coinage the Romans used 18 and 24 carat gold.

Gems and Pearls Real and Fake


Jewels have always been used as love tokens and whilst many pieces were fine gems and precious metals, good fake jewellery intended to deceive existed. Flawless, round, natural, large white pearls were prized more than precious gemstones. The finest of pearls were provided by South India and the Persian Gulf.

Imitation Jewellery Manufacturing started in 1300 BC


Recipes for false pearls existed in 1300 when white powdered glass mixed with albumen (egg white) and snail slime, produced beads that were used as imitation pearls. The Italians, particularly the Venetians and people from Murano, could make imitation glass gems and pearls that were very good likenesses of the real jewels. By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

Victorian Jewellery
When Queen Victoria came to the throne in 1837 jewellery was romantic and nationalistic. It gave attention to the pressure of European folk art, which later influenced the Arts and Crafts Movement. Until mid century most western jewellery came from Europe, but soon jewellery began to be made in America and Australia. Right - Victorian garnet necklace. Victorian women rebelled when they saw some of the machine made jewellery on offer, although much of what has survived is of good quality. Many wore no jewellery at all, or bought from the artist craftsman jewellers who emerged at much the same time.

Cocktail Jewellery
In the 1920s Lalique designed good mass produced quality glass jewellery. Fake, or costume jewellery was sometimes then called cocktail jewellery. It was greatly influenced by Coco Chanel (1883-1971) and Elsa Schiaparelli (1890-1973). They both encouraged clients to use costume jewellery and to mix it with genuine gem pieces they already owned. Both designers offered imagination and fun and both often sported fabulous fakes. In the late 1930s Napier of the USA was at the forefront of manufacturing fake cocktail jewels, which offered glamour and escapism. Napier still produces excellent contemporary costume pieces.

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

What Factor affected the choice of Consumer in Early 90s


In early 1940 & 1950 the factors that influenced consumer was the influence of Hollywood and in 1980 T.V made the influence on the purchasing of jewellery.

Hollywood Influence
By the 1940s and 1950s American culture was very dominant in Europe. The influence of movie films and the prominence of film stars set the fashion in manners, make-up, hair and clothes. People wanted look alike copies of outfits and jewellery worn by screen idols. The Second World War in Europe halted production of fine jewellery when metals were rationed. Quality costume jewellery which was flourishing in America became much more acceptable and was a real alternative to fine jewellery. Because of technical advances in production methods, a huge range of styles was available from America, and since it was so popular the market became dynamic and inventive and affordable.

1980's Television Influence


In the 1980s there was a huge revival of costume jewellery after the glitzy scenes from the television soap operas Dynasty and Dallas were watched by 250 million viewers in the consumer boon of the 1980s. Diamante by day became the norm in reality and earrings reached such huge proportions that the 1990s saw a reaction which quickly dated lavish dress jewellery as the fashion for tiny real diamond studs or a fine stud pearls became the only earring to wear. Now fabulous fakes, especially brooches have gained ground once more.

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

1) The Oscar look! Glass Emerald Style Set

2) Blue Glass Icicles Set

3) Blue Crystals

4) Copper and Glass Collar Necklace

5) Swarovski Crystal Cherries Brooch

6) Vendome Amber Crystals

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

Jewellery for the 21st Century


Costume jewellery can enliven a fashion wardrobe and bring a dash of panache especially for one off special occasions. Costume jewellery can be superb. The superb is usually plated at least seven times with 18 or 22 ct gold.

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

BRANDED GOLD JEWELLERY MARKET IN INDIA

GOLD JEWELLERY MARKET IN INDIA


Before the liberalization of the Indian economy in 1991, only the Minerals and Metals Trading Corporation of India (MMTC) and the State Bank of India (SBI) were allowed to import gold. The abolition of the Gold Control Act in 1992, allowed large export houses to import gold freely. In 1993, gold and diamond mining were opened up for private investors and foreign investors were allowed to own half the equity in mining ventures. In 1997, overseas banks and bullion suppliers were also allowed to import gold into India. These measures led to the entry of foreign players like DeBeers, Tiffany and Cartiers into the Indian market. In the 1990s, the number of retail jewellery outlets in India increased greatly due to the abolition of the Gold Control Act. This led to a highly fragmented and unorganized jewellery market. India had the highest demand for gold in the world; 855 tons were consumed a year, 95% of which was used for jewellery. The bulk of the jewellery purchased in India was designed in the traditional Indian style. Jewellery was fabricated mainly in 18, 22 and 24-carat gold. (Refer Table I for carat calculation) As Hallmarking was not very common in India, under-caratage was prevalent. According to a survey done by the Bureau of Indian Standards (BIS), most gold jewellery advertised in India as 22-carat was of a lesser quality. Over 80% of the jewelers sold gold jewellery ranging from 13.5 carats to 18 carats as 22-carat gold jewellery.

By: Preetika

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By: Preetika

Arora, 4363
TABLE I KARAT CALCULATION 24 Carat 100 percent pure gold 22 Carat 91.66 percent pure gold 20 Carat 83.33 percent pure gold 18 Carat 75 percent pure gold 2 Carat 8.33 percent pure gold 1 Carat 4.166 percent pure gold Source: ICFAI Center for Management Research

Indian Scenario
In the late 1990s, the Indian jewellery market witnessed a shift in consumer perceptions of jewellery. Instead of being regarded as only an investment option, jewellery was being prized for its aesthetic appeal. In other words, the focus seemed to have shifted from content to design. Trendy, affordable and lightweight jewellery soon gained familiarity. Branded jewellery also gained acceptance forcing traditional jewellers to go in for branding. Given the opportunities the branded jewellery market offered; the number of gold retailers in the country increased sharply. Branded players such as Tanishq, Oyzterbay, Gili and Carbon opened outlets in various parts of the country. Traditional jewellers also began to bring out lightweight jewellery, and some of them even launched their inhouse brands. INDIA is the largest consumer of gold in the world to be followed by China and Japan. India is emerging as world's largest trading centre of this commodity with a target of US$ 16 billion set for 2010. According to a World Gold Council press statement, in terms of tonnage, overall consumer demand in India in 2005 witnessed 17 percent growth over 2004. In rupee terms, this was equivalent to a 25 percent increase bringing the value of gold demand in India to a second successive annual record. Jewellery demand also experienced a second successive annual record of over 20 percent in rupee By: Preetika

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By: Preetika

Arora, 4363

terms over 2004. In terms of tonnage, the increase was 14 percent accounting 589 tonne. According to WGC report, net retail investment was less affected by the upward price movement and set a new annual record in tonnage terms, with a massive 34 percent increase over 2004. A consumer survey carried out for the WGC at the end of 2005 reveals the underlying strength of Indian gold demand remains robust and is underpinned by a strong economy and favorable demographics in golds key target markets. While jewellery demand may have been constrained in the first weeks of 2006, a period of price stability is likely to see a strong level of buying once again. The Indian Gem and Jewellery industry has witnessed 6.32 growth in exports in fiscal 2005-06 totaling at US$ 16669.11 million (Rs.73304.29 crore) against US$ 15678.14 million ( Rs 70245.95 crores) achieved in the previous fiscal. The United States, Hong Kong and UAE were the top export markets for the Indian Gem and Jewellery products accounting for 28 percent, 21 percent and 15 percent of the total exports followed by Singapore and Belgium accounting for 9 percent and 8 percent respectively. The branded jewellery segment occupied only a small share of the total jewellery market because of the mindset of the average Indian buyer who still regarded jewellery as an investment. Moreover, consumers trusted only their family jewellers when buying jewellery. Consequently, the branded jewellery players tried to change the mindset of the people and woo customers with attractive designs at affordable prices.

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

India's Exports of Gem & Jewellery (2006-07) (In Rs crore)


ITEMS April May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar.

Cut & Polished 2859.51 2982.57 3007.49 3035.04 3954.02 3985.53 4717.56 1959.41 2589.27 3815.72 3858.1 4904.2 Diamonds Gold 1029.26 1165.94 1146.73 1209.11 1560.94 1618.72 1823.21 1521.95 1378.97 1355.04 1281.99 1923.1 Jewellery Coloured 56.99 96.32 64.45 66.3 96.41 95.11 91.68 67.3 89.03 145.5 71.63 88.15 Gemstones Pearls 1.03 0.17 1.07 1.03 1.21 0.45 2.83 1.38 1.33 0.79 1.17 1.85 Non-gold 42.35 58.8 44.68 52.47 62.74 48.99 57.7 45.57 46.79 72.73 48.21 59.62 Jewellery Synthetic 0.24 0.33 0.07 0.19 0.22 0.37 0.17 0.1 0.07 0.32 0.31 0.13 Stones TOTAL 4537.82 5396.29 5660.42 5864.34 7165.38 7148.33 7853.57 3872.34 4392.08 5749.6 5632.97 7544.37 GRAND 4805.6 5551.36 5820.26 6058.65 7436.96 7411.93 8108.81 3967.5 4594.98 5960.29 5830.17 7757.76 TOTAL SOURCE: GJEPC, India

By: Preetika

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By: Preetika

Arora, 4363
April-October07 % Growth / decline over (Same ports as current previous Year year) Rs. US $ Rs. In US $ in Crores Million 28796.04 216.37 6309.39 15.82 15.38 29.34

India's Exports of Gem & Jewellery (April-October 2008)


ITEMS April-October07 (Provisional) Rs. In Crores Cut & Pol 33351.37 Diamonds (Quantity in 249.64 Lakh Carats) Gold Jewellery - D. 7332.83 T. A. SEZ / EPZ 5700.27 Total 13033.10 Coloured Gemstones Others 599.53 585.68 US $ in Million 8160.35

1794.19 1394.73 3188.92 146.69 143.30

7147.03 5281.85 12428.88 573.28 430.16

1565.95 1157.29 2723.24 125.61 94.25

2.60 7.92 4.86 4.58 36.15

14.58 20.52 17.10 16.78 52.04

Net Exports 47569.68

11639.26

42228.37

9252.49

12.65

25.80

Exports of Rough 1263.70 Diamonds (Quantity in 151.73 Lakh Carats) Total Exports

309.20

1296.75 229.96

284.13

-2.55 -34.02

8.82

48833.38

11948.46

43525.12

9536.62

12.20

25.29

Gold Jewellery Exports: This segment registered a growth of 1.28 per cent with the exports of US$ 3861.57 million in 2005-06 as against US$ 3812.88 million in 2004-05.

Cut and Polished Diamonds: The share of this segment in the exports stood at US$ 8160.35 million (provisional) for the period April-October 2008. Coloured Gemstones: This segment accounted for exports worth US$ 146.69 million (provisional) for the period of April-October 2008. This segment grew by 21.05 per cent in 2005-06 at US$ 233.32 million as against US$ 192.75 million in 2004-05.

By: Preetika

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By: Preetika

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Top Export Destinations


United States (28 percent) Hong Kong (21 per cent) UAE (15 per cent) Singapore (9 per cent) Belgium (8 Per cent)

There was a time when priceless diamond jewellery was seen only in royal portraits or beautifully designed books and catalogues. Today, diamond sales have taken a dramatic turnaround with branded jewellery becoming available to millions of upper middle and middle class women. Of late, the diamond jewellery business has used several top film stars and models to tempt men and women across the board to buy diamonds not only during the festive season, but also throughout the year. Time was when wearing diamonds was the prerogative of the rich and royalty. Though rubies, emeralds, sapphires and pearls have featured with equal importance in the treasures of the nawabs, maharajas, queens and emperors, diamonds have always grabbed the attention of the world with their incredible, almost hypnotic beauty. No wonder then that many legends and historical events have been recorded about celebrated diamonds, which have been the prized possessions of famous people. An aura of mystery and magic has always surrounded diamonds. Today however, marketing diamond-studded jewellery through malls, department stores and chains has brought diamond jewellery within the reach of even teenagers. Diamonds have now truly become a womans best friend in this part of the world!

To brand or not to brand? That is the question. Consumer behavior across the world is undergoing a metamorphosis and India is surely affected by this big tsunami of trends leading to globalization of the markets. A strong management of brands will be essential for long term success.

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

In India, right from manufacturing to advertising and retail branding, companies are making a strategic shift at the right time especially when consumer trends point to a marked growth curve for the branded segment. Although the sale of branded jewellery is more in the urban markets there is certainly a great potential in the rural markets as well which still remain relatively untapped.

Moreover with India witnessing a distinct change in its newly emerging lifestyle and buying habits, consumers no longer look at jewelry as a mere investment or savings. It has turned into a status symbol and fashion symbol as well with the market growth drivers such as higher disposable incomes and easy credit facilities. Buying jewellery has also become an attractive gift option. Consumers are slowly moving away from contemporary jewelry to designer wear. The Indian consumer is now well traveled, and is exposed to an international shopping experience

Further lets look at some key factors influencing the jewellery retail scenario in India.
- Diamond jewellery now is not restricted to just occasions like marriage but extends to all modern day occasions like Valentines day, Mothers day, Fathers day, Karva Chauth etc. All brands are targeting on the emotional bonds of human relationships and promoting the same accordingly, thus giving retailing jewellery in India a major boost. - There is a marked shift in the consumers preferences and aspirations from gold jewellery to diamond jewellery which is fuelled by media hype and exposure to lifestyle and luxury products. - With more women working in todays scenario the positioning of diamond jewellery as 9 to 5 wearable jewellery has increased emphasis on this segment. This is further fueled by the fact that with the number of double income households increasing this has resulted in more disposable incomes being available. - With more and more players being introduced in the branded jewellery segment there is an onslaught of schemes and promotions on diamond jewellery round the year, which gives retail a great push.

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By: Preetika

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- Each brand offers value added services like certification of gold and diamonds, life time return /buy back schemes, zero interest installments schemes which have made the diamond jewellery more affordable than its perceived traditional image of being expensive, thereby increasing consumption. - To further strengthen the retail segment, most brands are getting into departmental stores, hypermarkets, supermarkets and specialty stores. Western style malls have begun appearing in metros and smaller cities alike, introducing the Indian consumer to a shopping experience like never before. Besides the franchise route the counters in most malls is another route that most of the brands are getting into which helps create a better reach of the product. - The opening of a number of exclusive franchise outlets, not only can provide the entire range of jewellery under one roof but create an ambience to give consumers a total shopping experience. - Jewellery buying is no longer confined to seasonal cycles of marriages, and Diwali and Christmas: anytime is a fine time and jewellery can be bought as much to express an emotion, as to proclaim the financial status of the wearer. - Men from metros are also donning jewellery, over and above the traditional wedding rings and chains.

In todays scenario focused marketing is very important creating a purpose, a definite focus for the consumer to relate to. Brands and their branding is in effect self explanatory. That is what focused branding is all about. In short to be able to cater to this new retail environment the branding and marketing initiatives have to be very potent and with a focus.

In India, women feel that diamond jewellery is more than worth it and its image strength really is the wow factor. But the nearest competitor is still gold which is much more attainable. In India, the preferred type of jewellery is undoubtedly gold jewellery at 99%, whereas that of diamond jewellery is 67%, colored stone studded at 42% and pearl jewellery at 18%. By: Preetika

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By: Preetika

Arora, 4363

Jewellery acquisition is 62% for self and 26% is for gifting. The place of purchase is 49% is from a big jeweler in town, 48% from a local jeweler and only 3% from malls. The urban Indian diamond jewellery universe comprises of 25 million SEC A/B women, of which 11,500 are the super elites and 0.5 million are the elite. Design wise, traditional designs still rule the roost, with heavy designs following closely. However western design trends, delicate design trends and fashionable design trends are gaining in prominence.

Price wise, in higher value products like necklaces and sets, the average price paid for branded jewellery is much higher than that of unbranded jewellery. Whereas, in products such as bangles and bracelets, the average price paid for unbranded jewellery is actually higher than branded jewellery. Perception wise, while 87% feel that branded jewellery is more expensive than unbranded, 70% also feel that they cannot be cheated with brands.

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

Major Players
The late 1990s saw a number of branded jewellery players entering the Indian market. Titan sold gold jewellery under the brand name Tanishq, while Gitanjali Jewels, a Mumbai-based jewellery exporter, sold 18-carat gold jewellery under the brand name Gili. Gitanjali Jewels also started selling 24-carat gold jewellery in association with a Thai company, Pranda. Su-Raj (India) Ltd. launched its collection of diamond and 22 carat gold jewellery in 1997. Cartiers entered India in 1997 in a franchise agreement with Ravissant9. Other players who entered the Indian branded gold jewellery market during the 1990s and 2000-01 included Intergold Gem Ltd., Oyzterbay, Carbon and Tribhovandas Bhimji Zaveri (TBZ).

By: Preetika

Arora, 4363

By: Preetika

Arora, 4363

In 1984, Questar Investments Limited (a Tata group company) and the Tamil Nadu Industrial Development Corporation Limited (TIDCO) jointly promoted Titan Watches Limited (Titan). Initially involved in the watches and clocks business, Titan later ventured into the jewellery businesses. In 1995, Titan changed its name from 'Titan Watches Ltd.' to 'Titan Industries Ltd.' in order to change its image from that of a watch manufacturer to that of a fashion accessories manufacturer. In the same year, it also started its jewellery division under the Tanishq brand. Among the branded jewellery players in the Indian market, Tanishq is considered to be a trendsetter. When it was launched in 1995, Tanishq began with 18-carat jewellery. Realizing that such jewellery did not sell well in the domestic market, the 18-carat jewellery range was expanded to include 22 and 24-carat ornaments as well. When Tanishq was launched, it sold most of its products through multibrand stores. In 1998, Tanishq decided to set up its own chain of retail showrooms to create a distinctive brand image. By 2002, Tanishq retailed its jewellery through 53 exclusive stores across 41 cities. To meet increasing demand, Tanishq planned to open 70 stores by the end of 2003 and offer a range of 'wearable' products with prices starting at Rs. 400.

By: Preetika

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By: Preetika

Arora, 4363

Nakshatra was launched with celestial, evocative imagery highlighting the significance of its design cluster. Aishwarya Rai, a contemporary fashion icon in India, was signed up as the brand ambassador for the launch of the brand, imbuing the range with premium imagery and style. Nakshatra today is the modern face of Indian tradition with overtones of mysticism and symbolism. Within the first year of its launch, Nakshatra acquired a significant market share. In the two years since then, it has become the leading branded jewellery collection in the country. It has achieved 93% awareness levels amongst its target audience (Source: Global Tracking Study conducted by Research International, January 2003). 70% of retail outlets stocking Nakshatra credit the brand with playing a key role in boosting overall diamond jewellery sales, increasing the average price of all diamond jewellery sold and increasing consumer footfalls in the stores. This success has not gone unrecognised. In its first year, Nakshatra was awarded the Effie (Silver) in 2001 and in the following year the Effie (Bronze). (The Effies are the most significant awards in advertising that recognise effectiveness and honour tangible results). In 2003, the Nakshatra Utsav was awarded the Best Trade Promotions award at the McDowell's Signature All-India Promo Awards. The brand has been consistently making news through relevant image building activities that have enhanced its image and increased its aspirational values. A recent study revealed that by driving desire for all kinds of diamond jewellery, Nakshatra has arrogated a unique position in the category. It has appropriated the physical values of quality, brilliance, radiance and clarity of the diamond category thus creating a special niche for itself as a brand. Nakshatra is seen as celestial, ethereal and mysterious. It is a brand that provides a special experience to the consumer. By: Preetika

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By: Preetika

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Today, P.P. Jewellers Group is the yardstick of success. The saga of 'Rags to Riches'. The story of Fairy tales- Unbelievable! Yet behind every success story is mid-night oil burned, hard labour, dedication, determination and crystalled perception of goal. Success is not a matter of chance. It is a well-crafted destiny. The ancient India was known to be the jewel in crown of the British. Today, P.P .Jewellers group is the jewel in the crown of the Modem Indian. The most precious stones in the jewel being the nine consecutive export performance awards received by them from the Gems & Jewellery export performance council. To add beauty to the radiant performance is the certificate for Meritorious performance in the field of exports during the year 1995-96 and 1996-97, issued by Government of India, Ministry of Commerce and given by the Honorary President of India, Dr.. Shanker Dayal Sharma and the Prime minister of India Mr. Atal Bihari Bajpai. It all began in the year 1980. Shri Kamal Gupta laid down the foundation stone of the organisation. The Group is working in style and name of: P.P. Jewellers P.P. Jewellers Pvt. Ltd. P.P. Jewellers (Delhi) P.P. Jewellers (India) P.P. Jewellers (Exports) A 100 % export oriented firm Showroom catering to domestic needs Showroom in the walled city of Delhi. Showroom in old Delhi. A 100% Export Oriented Unit

By: Preetika

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By: Preetika

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D'damas is part of the Gitanjali Digico Group which was established in 1966, and is considered one of the earliest diamond houses in India. By 1968 it was accorded a Sight by the Diamond Trading Company Ltd London and Gitanjali became one of the first Sightholders in India. Having received over 50 National and Council awards from the Ministry of Commerce for outstanding exports it is today one of the largest diamond exporting companies in India. Presently the Gitanjali Group has highly modernized diamond cutting and polishing facilities at 5 locations in India. The Group strengthens its core business of loose diamonds with its international association to Diminco N.V. who has globally diversified manufacturing operations in Bangkok, Vietnam and China and a marketing network spread across Europe, Hong Kong, USA and Japan. The traditional role of diamond manufacturers exporting their entire production to wholesalers worldwide is no longer enough to remain competitive in todays marketplace. The Gitanjali Group has therefore in the last few years enhanced its operations to adapt to these changes. Being a DTC Sightholder and a diamond manufacturer the Group has strategically positioned itself to manufacture and promote diamonds as well as studded jewellery all the way to the retail level.

By: Preetika

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By: Preetika

Arora, 4363

Gili
In 1994, Gili Jewellery was established as a distinct brand by Gitanjali Jewels, soon after the abolition of the Gold Control Act by the Indian government. Gili offered a wide range of 18-carat plain gold and diamond-studded jewellery, designed for the contemporary Indian woman. The designs combined both the Indian and western styles and motifs. With sales of Rs.0.14 billion for the year 2000-01, Gili had a 0.03 percent share of the 400 billion jewellery market in India and a 1.4 percent share of the branded jewellery market.

Carbon
In early 1991, the Bangalore based Peakok Jewellery Pvt. Ltd., (Peakok) was incorporated and Mahesh Rao (Rao) was appointed director. Peakok realized that the Indian consumer's relationship with gold jewellery would grow beyond an investment need towards a lifestyle and personality statement. In 1996, within the Peakok fold a new brand of 18-carat gold-based jewellery called Carbon was launched. In 2000-01, with sales of Rs. 0.14 billion, carbon had a 0.03 percent share of the jewellery market and a 1.4 percent share of the branded jewellery market. The company expected Carbon sales to touch Rs. 1.5 billion by 2005-06 and exports to start by 2008. The brand was available at 40 outlets in 16 cities in 2002 and would be made available in 23 cities by 2005.

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

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By: Preetika

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Trendsmith
Mumbai-based Tribhovandas Bhimji Zaveri (TBZ), which had been in the jewellery business since 1864, saw tremendous scope in the branded segment and opened its new concept store 'Trendsmith' in Mumbai in December 2001. Encouraged by the response towards its first store, the Zaveris planned to take Trendsmith (India) Pvt. Ltd. all over the nation by opening as many as 50 stores by 2006. Trendsmith offered eight lines of exclusive designer jewellery from well-known export jewellery manufacturers and designers from Mumbai and Delhi.

De Beers
The history of De Beers falls into three broad stages. In its early years, when the company produced over 90% of the world's diamonds, it was able to control the production and hence the supply of diamonds almost at will. Then, from the beginning of the 20th century, when rival producers began to challenge its pre-eminence, De Beers used its still-dominant position to co-ordinate and regulate the supply of diamonds in pursuit of price stability and consumer confidence. Finally, in the closing years of the last century, the globalising economy rendered De Beers' role of industry custodian inappropriate and expensive. In response De Beers set about crafting a new strategy for the 21st century: a suite of innovative programmes and alliances designed to reinvigorate the industry and to grow demand for diamond jewellery.

By: Preetika

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By: Preetika

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DTC
Diamond jewellery has been making inroads into the jewellery market, thanks to the efforts of the Diamond Trading Company (DTC). The DTC by launching its own brands Arisia, Nakshatra, Asmi and Sangini, has been targeting separate consumer need states. This is because the concept of a diamond for everyone has ensured that more and more consumers can aspire to buy, own and possess a diamond. For instance, DTC has recently signed a contract to hand over Nakshatra, India's largest and most successful diamond jewellery brand in 2008 to the company, Brightest Circle Jewellery Pvt. Ltd (BCJPL). BCJPL is a company owned and run by all three sight holders involved with DTC in the Nakshatra brand - Mahendra Bros, Dimexon and Digico (Gitanjali). In the past ten years that DTC has commenced operations in India, the diamond market has slowly flourished. Today, the Diamond market in India is worth Rs 6600 crores. These booming results are because DTC has launched several diamond jewellery brands that have carved a niche for them, catering to different consumers.

TABLE

II

BRANDED MARKET

GOLD (MAJOR

JEWELLERY PLAYERS) Brand Tanishq Oyzterbay Gili Carbon

Market share (2000-01) in %) 27 1.7 1.4 1.4

Source: ICFAI Center for Management Research

By: Preetika

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By: Preetika

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OPERATIONAL DEFINATIONS
BRANDED JEWELLERY:
Branded jewllery is that jewellery which is made by an authorized firm or individual of pure metal. Who have a unique name, term, sign, symbol or design to identify the jewellery. Brand satisfies our Psychology need.

IMITATED JEWELLERY:
Jewellery which is not made of pure metal but have some semi precious stones and metal. Fake, or costume jewellery was sometimes called cocktail jewellery. E.g.:- bronze look like a gold.

UNBRANDED BUT NOT IMITATED:


Jewellery which is made up of pure metal but not branded.

By: Preetika

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By: Preetika

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By: Preetika

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By: Preetika

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Significance of the Study

My study is significant because it contributes to the existing research data base on the topic of Comparative Analysis of Consumer Perception towards Branded and Imitated Jewellery. I would also like to mention that such research studies also contribute to our understanding of the research process in a scientific manner. Last but not the least that the Indian context little research work has been carried out on this topic especially that which is available in the public domain.

By: Preetika

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By: Preetika

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By: Preetika

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By: Preetika

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LITERATURE REVIEW
Every research which is conducted in today's era has been inspired by some of researcher which are conducted before. I am also influenced to do, so I selected this topic for research.

According to Samrat Zaveri, CEO of Trend smith, "Research shows that the Indian jewellery sector is in the transition phase with consumers' desire for possession of jewellery for its aesthetic appeal and not as a form of investment." According to Singh (2001) in his study entitled Consumer Behavior and Jewellery products, an analysis stress that consumer attitude is an important factor for the purchasing behavior towards jewellery.

In October 2002, Trend smith conducted a survey to understand the shifting needs, motivations and aspirations of consumers in the jewellery market, and to identify new trends and opportunities. The research study arrived at the following conclusions:

The younger generation was looking at trendy, contemporary jewellery and clearly avoiding heavy, traditional gold jewellery.

The Indian consumer was willing to experiment with new designs. The jewellery industry is going through a period of transition with more players scaling up operations, increasing their global footprints through outsourcing and / or venturing into the new growth area that of the domestic retail business. The launch of numerous diamond jewellery brands in India in the last few years and their successes indicate a marked shift in consumer preferences from gold ornaments to diamond jewellery.

Source: Mr. Mehul Choksi (Chairman & CEO, Gitanjli Group) At International Diamond Conference- Mines to Market. By: Preetika

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By: Preetika

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The TVC, which has been designed by Lowe India, showcases the various emotions that are associated with jewellery. For instance, when a woman buys jewellery, she feels joyful or when one sees the jewellery in the showroom, there is an element of wonder. Tanishq, through the TVC, seeks to develop an emotional connect with the consumer. Source: Gayatridevi N (Ex-Research Associate, The ICFAI Knowledge center, Hyderabad), The ICFAI Journal of Brand Management, March 2006.

Introduce four key brand perception measures (Relevance, Confidence, and Differentiation & Growth) and show how these correlate with use intention. It is observed that these results can be linked to other position, value and process metrics to provide actionable insights leading to enhanced purpose intention. Source: Sean Corcoran and Shigeo Okazaki and Map, March 2005, Issue 459, pp 44-48.

Proposes a set of strategic options for green brand positioning, based either on functional brand attribute or emotional benefits and aims to test the suggested positioning strategies one against another. Result achieved through a green positioning strategy which combined functional attributes with emotional benefits. Source: Patrick Hartmann, Vanessa Apoalaza Ibanez and F.Javior Marketing intelligence and planning, vol 23, 2005, pp 9-29. Forcada Saing,

The paper looks at the role of brand credibility (Trustworthiness and Expertise) on brand choice and consideration across multiple product characteristics that vary with potential uncertainty about attributes, information acquisition costs and perceived risk of consumption. Amongst other finding, it is suggested that trustworthiness has a greater impact on consumer choice than expertise. Source: Tulin Erdan and Joffre Swait, Journal of consumer research, vol 31, June 2004, pp 191-198.

By: Preetika

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By: Preetika

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By: Preetika

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RESEARCH OBJECTIVES

The study has been undertaken for following objectives:-

1) To find the effect of advertisement on consumer purchase behavior. 2) To find out the market share in terms of source of information of jewellery. 3) To know the factors which affect choice of jewellery. 4) To know the consumer perception towards jewellery on different occasions.

By: Preetika

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By: Preetika

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By: Preetika

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By: Preetika

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RESEARCH METHODOLOGY

At the outset may be noted that there are several ways of studying and tackling a problem. The formidable problem that follows the task of defining the research problem is the preparation of the design of research project popularly known as research design.

More explicitly the designing decision happened to be in respect of following:

What is study about? Why is study being made? Where will the study be carried out? What type of data is required? What will be the sample design? What period of time will the study include? How will the data be analyzed? In what style will the report be prepared?

The purpose of this section is to describe the research procedure. This gives the researcher sufficient support to give his arguments for opting certain alternatives and to justify his position. Research methodology is a way to systematically solve the research problem. It includes all those steps that are generally adopted to solve the research problem.

By: Preetika

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By: Preetika

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IT GENERALLY INVOLVES:
Area covered Research Design Sampling design Data collection method Data Analysis

AREA COVERED:
It was aimed to cover as large area as possible within the limits of given time and financial constraints. The area covered was that of YAMUNA NAGAR and JAGADHARI City. Respondents from different parts of Yamunanagar and Jagadhari were surveyed.

By: Preetika

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By: Preetika

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RESEARCH DESIGN
Research Design is the conceptual blueprint for collection, measurement and analysis of data. Research Design stands for advance planning of the methods to the adopted for collecting the relevant data and the techniques to be used in their analysis keeping in view the objectives of the research and the availability of staff, time and money. Two broad classes of research design are identified as: Research design in case of exploratory research studies. Research design in case of descriptive in case of research studies.

Keeping in view the relevance of research design the Exploratory Design is followed in this project, because it involves the Exploratory as well as descriptive study for the research problem. So, as a part of the project an exploratory research was done for getting the variables involved and getting a clear understanding of the problem and descriptive study was done to know in detail the status quo in the area in which the research is being carried out.

By: Preetika

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By: Preetika

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SAMPLING DESIGN
A sample may be defined as the selection of some part the whole population on the basis of which a judgment or inference about the whole population is made. Sampling is the process of selecting the sample, which is representative of the target population. Due to some constraints each member of a group cannot be studied. So, it is requires selecting a sample from the group. A sample should neither be too large, as to be unmanageable to be studied, nor too small to lose its relevant characteristics. After deciding on the research approach and instrument a sampling plan has been designed. This plan calls following decisions:

SAMPLING UNIT:
Sampling unit denote the people or respondents who are to be surveyed. For my study target population consists of all categories of consumers who purchase jewellery.

SAMPLE SIZE:
Sample size means the number of people to be surveyed. In the given research project sample size consists of: Consumers: 110

SAMPLING PROCEDURE:
Sampling procedure is the process of choosing the respondents. To select a sample of respondents non probability sampling has been used. The questionnaire contained both the close ended and open-ended type of questions. To collect the data survey has been conducted in Yamuna nagar and Jagadhari city. By: Preetika

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By: Preetika

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DATA COLLECTION

The task of data collection is begins after a research problem has been defined and research designed/ plan chalked out. Data collection is to gather the data from the population. The data can be collected of two types:

(1) Primary data (2) Secondary data

Primary data:The Primary data are those, which are collected afresh and for the first time, and thus happened to be original in character. Methods of collection of primary data are as follows: Questionnaire

Secondary data:The Secondary data are those which have already been collected by some one else and which have already been passed through the statistical tool. Methods of collection of Secondary data are as follows: (1)Journals (2) Books (2)Websites

By: Preetika

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By: Preetika

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DATA ANALYSIS
Next is data analysis that means to extract pertinent finding from the collected data. Because data in itself carries no meaning until it is represented as some proper information. Data has been analyzed and has been presented in table form.

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By: Preetika

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By: Preetika

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By: Preetika

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Questions
1. Do you find any thing wrong with purchasing imitation brand name products such as purses, jewellery, wrist watch or imitation electronic products?

No of Respondents 110

Yes 66

No 44

44.40% 66.60%

Yes No

This graph shows most of respondents dont find any thing wrong with purchasing imitation brand name products such as purses, jewellery, wrist watch or imitation electronic products.

By: Preetika

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By: Preetika

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2. Which of the following imitation products do you think are perfectly fine alternative of the original?

No of Respondent 110

Electronic products

Purses

Jewellery

wrist watch

42

56

24

60.00 50.00 40.00 30.00 20.00 10.00 0.00

50.91 38.18 21.82 7.27

Percentage

Electronic products

Purses

Jewellery

wrist watch

This graph shows that the most of the respondents thinks that the jewellery and purses are perfectly fine alternative of the original.

By: Preetika

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By: Preetika

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3. Do you prefer branded or imitated jewellery?

No of Respondent 110

Branded

Imitated

Both

Any other

20

58

25

60.00 50.00 Percentage 40.00 30.00 20.00 10.00 0.00 Branded Imitated 18.18 6.36

52.73

22.73

Both

Any Other

Any Other-Unbranded but not imitated

This graph shows that the most of the respondents prefer branded or imitated jewellery.

By: Preetika

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By: Preetika

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4. How many brand name of jewellery are you aware?

Tanishq

Nakshetra PP Jewellers

DDamas

De Beers

DTC

Gili Gold

DGam

109

107

85

79

61

53

42

53

120.00 99.09 97.27 100.00 77.27 71.82 80.00 55.45 48.18 60.00 38.18 30.00 40.00 20.00 0.00
Ta ni Na s hq k PP sh et Je ra w el le D rs Da m as De B ee rs DT C G ol d D G am

Percentage

This graph shows that the most of the respondents are aware about the branded jewellery.

By: Preetika

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By: Preetika

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5. Would you have more or less respect for a person if you found that the person had an imitation or fake brand name products?

No of Respondents 110

Yes 31

No 79

31, 28% Yes No 79, 72%

This graph shows that the most of the respondents have no problem if they found that the person had an imitation or fake brand name products.

By: Preetika

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By: Preetika

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6. Which source of advertising do you prefer for seeking information about jewellery?

T.V

Magazine

News paper

other

77

52

16

80 70 60 50 40 30 20 10 0 T.V

70 47.27 14.55

Percentage

7.27 other

Magazine

News paper

Detail of Others:Personal Contacts Word of Mouth Jeweller Radio 3 2 2 1

This graph shows that the T.V and Magazines are the main source of awareness.

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By: Preetika

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7. What do you notice most in an advertising?

Design

Brand

Celebrity

other

65

50

23

70.000 60.000 Pe rcen e tag 50.000 40.000 30.000 20.000 10.000 0.000

59.091 45.455

20.909 0.000 Design Brand Celebrity other

This graph shows that design affects more from advertising.

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By: Preetika

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8. Does the jewellery used in daily soaps (T.V serials) influence your purchase decision?

No of Respondents 110

Yes 67

No 43

43.39% 67.61%

Yes No

This graph shows that jewellery used in daily soaps (T.V serials) influence your purchase decision.

By: Preetika

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By: Preetika

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9. Which factor affects your choice?

Design

Brand

Guarantee

Price

78

24

32

31

80 70 60 50 40 30 20 10 0

70.9

Percentage

29.09 21.81

28.18

Design

Brand

Guarantee

Price

This graph shows that design affects choice more as compare to other factors like brand, guarantee and price.

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By: Preetika

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10. Do you prefer imitated jewellery only on occasions?

No of Respondents 110

Yes 54

No 56

49% 51%

Yes No

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By: Preetika

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If yes, at which occasion do you prefer imitated jewellery?

Festival

Family Party

Non Family Party

Kity Party

11

44

13

50 Percentage 40 30 20 10 0 Festival 10

40

11.81 2.72 Family Party Non Family Party Kity Party

This graph shows that the most of the respondents prefer imitated jewellery only on family party.

By: Preetika

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By: Preetika

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If no, what kind of jewellery do you prefer on such occasion?

Branded 26

Unbranded But Not Imitated 25

Other 5

25 Percentage 20 15 10 5 0

23.63

22.72

4.54

Branded

Unbranded But Not Imitated

Other

This graph shows that the most of the respondents prefer banded and unbranded but not imitated jewellery on occasion.

By: Preetika

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By: Preetika

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By: Preetika

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By: Preetika

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ANALYSIS OF STUDY

It has been observed through the study that the awareness of the jewellery in both the categories branded as well as imitated jewellery is equal. The respondents like to wear imitated jewellery in family festivals and they dont mind people wearing or buying fake brands or imitated jewellery. Most of the female like design when it comes for purchasing jewellery. There are few females that prefer unbranded but not imitated jewellery (purchased by their own gold smith).

1) 66.60% of respondents dont mind buying fake products like jewellery, purses, wrist watch & electronic products & 44.40% of respondents mind i.e. majority of respondents buy the fake brand or imitated brands.

2) 50.90% of respondents find that imitated jewellery and 38.18% of respondent find that the purses are the best alternative of original. Respondents in majority feels that the best option of original brand to buy is imitated jewellery or purses rather than to buy imitated electronic goods or wrist watch.

3) The answer of this question unambiguous. Majority of respondents like branded and imitated jewellery and 22. 72% like unbranded jewellery but not imitated.

4) It has been observed that the awareness in the branded jewellery is more for Tanishq and of Nakshatra because of the continuous advertisement in print and electronic media by these companies.

5) Majority of respondent dont mind if they find people wearing imitated jewellery.

6) T.V advertisements have more impact on the respondents

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By: Preetika

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7) The design of jewellery has long lasting impact on the respondents than the brand.

8) Since the design has greater impact on the respondents which further influence the buying behavior.

9) Design highly affects the purchase behavior of the respondents as compare to price, brand and guarantee.

10) Majority of the respondents prefers imitated jewellery on family parties. Whereas 50% of respondents prefer branded and unbranded but not imitated jewellery (purchased by their own gold smith) on occasions.

By: Preetika

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By: Preetika

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FINDINGS
Objective1:To find the effect of advertisement on consumer purchase behavior
This objective fulfilled from question 7.Advertisments affects consumer purchase behavior; Respondents mainly notice Design, Brand, and Celebrity in an advertisement. Design and brand (50% & 45%) affects more from advertising as compare to celebrity.

Objective2:To find out the market share in terms of source of information of jewellery.
This objective is satisfied from question No 7, 70% of Respondents get information about Jewellery from T.V., where as 47.27% Respondents from magazine.

Objective3:To know the factors which affect choice.


This objective is satisfied from question No 9, as per the recorded data design is the Greater factor which affect consumer choice.

Objective4:To know the consumer perception towards jewellery on different occasions.


This objective satisfied from the question No10. According to my study 44% Respondents prefer imitated jewellery on family party, 13% prefer imitated jewellery on non family party. Where as 23% respondents prefer branded and 22%prefer unbranded but not imitated jewellery on such occasions.

By: Preetika

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By: Preetika

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By: Preetika

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SUGGESTIONS

1. It is being observed that respondents are aware of Tanishq and Nakshetra because of advertisements so the other branded jeweller marketers should also adopt the best promotional strategies. 2. Females between ages of 19 30yrs are the best target customer for the imitation jewellery marketers. 3. Females of above 35 yrs are the best target customer for the gold smith jewellery so the gold smith should target these groups. 4. To assure consumers that your product is best use experts. To provide instant awareness - use film stars. 5. Advertisement agency should keep in mind certain product categories which are more influenced by celebrity endorsements such as Jewellery, Designer & product etc.

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By: Preetika

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CONCLUSION

This study shows that most of the female are aware about branded and imitated jewellery. Majority of respondents dont find anything wrong with purchase of imitated jewellery. Even half of respondents prefer imitated jewellery on occasions (like festivals, family parties, non-family parties, kitty parties). Where as other half of the respondents prefer branded and unbranded but not imitated on the same occasions. Respondent are aware about branded jewellery but still they dont prefer branded jewellery. Design influences the purchase behavior of the females. Where as T.V & magazines are the main sources of awareness.

By: Preetika

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By: Preetika

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By: Preetika

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By: Preetika

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LIMITATIONS

The followings are the limitations of the study:1. The information provided by respondents may be biased. So it may affect results of study. 2. . The researcher had an intention to reach a large sample but due to lack of time the intention could not be accomplished up to desired level. 3. The questionnaire was a bit time consuming. So getting them all filled was a tedious process. 4. Some response of questionnaire can't be considered very accurate because some respondents were not so serious while answering the questions. 5. The study is restricted to the limited areas of search. 6. Time period for the research is not appropriate. 7. Respondents shows biased attitude towards unbranded but not imitated jewellery. Specially age group of 30 and above.

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By: Preetika

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BIBLIOGRAPHY

BOOKS:
Kotler Philip: Marketing Management, 11th Edition, Prentice Hall of India Ltd.

JOURNALS & PAPERS:


Rajasekhar, Kavita. tatan Goes for Gold with Nebula. The Financial express. November 1, 1999. The Midas Touch, Business Standard, June 25, 2001. Goyal, Malini. India Today-Corporate Report, November 25, 2002, pp. 63-64. Business India, February 17, 2002. Gayatridevi (Ex-research Associate, The ICFAI Knowledge center, Hyderabad), The ICFAI Journal of Brand Management March 2006. Sean Corcoran and Shicago Okazaki and Map, March 2005, Issue 459, pp44-48.

WEBSITES:
www.titanworld.com www.rediff.com. Ganpati, Priya. How Tanishq Turned around, RediffBusiness, July 4, 2003. www.agencyfaqs.com www.icmr.icfai.org www.icmrindia.org

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Questionnaire
Thank you for participating in this survey. The information provided by you is only for academic purposes.

Name: _______________________Address:_____________________________________________ Tel No: ________________________Age: 20-29____30-39____41 or above_____ Occupation: Businessman _________Self employed professional________ Service ______Homemaker ______Student ______Retired ______.
Do you find any thing wrong with purchasing imitation brand name products such as purses, jewellery, wrist watch or imitation electronic products? Yes No

Which of the following imitation products do you think are perfectly fine alternative of the original? Electronic products Jewellery Purses wrist watch

Do you prefer branded or imitated jewellery? Branded Both Imitated Any other

How many brand name of jewellery are you aware? DGam Tanishq DDamas Nakshetra Gili Gold PP Jewellers De Beers DTC

Would you have more or less respect for a person if you found that the person had an imitation or fake brand name products? Yes No

By: Preetika

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By: Preetika

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Which source of advertising do you prefer for seeking information about jewellery? T.V Magazine News paper other _____________

What affect do you notice in an advertisement? Design Brand Celebrity other____________

Does the jewellery used in daily soaps (T.V serials) influence your purchase decision? Yes No

Which factor affects your choice? Price Brand

Guarantee

Design

Do you prefer imitated jewellery only on occasions? Yes No

If yes, at which occasion do you prefer imitated jewellery? Festival Non Family Party Family Party Kitty Party

If no, what kind of jewellery do you prefer on such occasion? Branded Any other_________________ Unbranded but not imitated

By: Preetika

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