THE BRAND POSITIONING STRATEGY OF JOYALUKKAS

A PROJECT REPORT

Under the guidance of

Twinkle Jaithaliya

Submitted by

<NAME> , <ROLL NO>

in partial fulfilment of the requirement

for the award of the degree

Of

MBA

IN

Finance

July 2016

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 ACKNOWLEDGMENT

An Endeavor to transform itself into success needs efforts. These efforts are individual,
standing in isolation. Such individual efforts require three things for their further
development. These three things being “Reason, Rationality and Self Esteem”. The
combination of these three basic traits delivers Productivity. However, time and again this
productivity requires encouragement and guidance. This much requisite support comes
in the form of Professionals furthering the development of Amateurs.

This acknowledgement is an effort to recognize these professionals who have made this
project a combination of the three fundamental traits.

I take the opportunity to express my sincere gratitude to all those who have guided
motivated and inspired me in the completion of my project.

This project report and the learning process behind it would not have been possible
without the guidance of my Faculty Guide, Twinkle Jaithalia. She was able to impart me
with the right approach that my report required for its successful completion.

<NAME>

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 BONAFIDE CERTIFICATE

Certified that this project report titled “THE BRAND POSITIONING STRATEGY OF
JOYALUKKAS ” Is the bonafide work of “<NAME>” who carried out the project
work under my supervision.

SIGNATURE FACULTY IN CHARGE SIGNATURE HEAD

OF DEPARTMENT

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 1.1 INTRODUCTION

Brand positioning refers to “target consumer’s” reason to buy your brand in preference to others.
It is ensures that all brand activity has a common aim; is guided, directed and delivered by the
brand’s benefits/reasons to buy; and it focuses at all points of contact with the consumer. Brand
Positioning is a very frequently used term in marketing, advertising and communications and
means different things to different practitioners.

It is often (incorrectly) used interchangeably with the term proposition (see below) leading to
confusion.

Positioning is a strategic process by which those commercially involved with a brand, business,
product, new product or organisation set about creating a perception (a set of meanings, image or
identity) in the minds of consumers/customers about the brand (business etc.) that is distinctive
and unique compared to its competitors. The choice of the word ‘position’ reflects the idea that
competitive players in a market can be located and mapped relative to each other across key
dimensions.

These dimensions vary widely, from easily measurable dimensions such as price, availability and
demographic characteristics of customers, through to more qualitative perceptions such as value,
quality, modernity, popularity etc.

The most reliable way to start positioning or re-positioning a brand is to understand consumer or
customer perceptions of its characteristics versus their perceptions of competitors. Positioning is
something that happens in the minds of the target market - it is not an exercise that can take place
around a meeting room table isolated from those who use/buy the brand.

Brand positioning is a medium through which an organization can portray its customers what
it wants to achieve for them and what it wants to mean to them. Brand positioning forms
customer’s views and opinions .Brand Positioning can be defined as an activity of creating a

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 brand offer in such a manner that it occupies a distinctive place and value in the target customer’s
mind. For instance-Kotak Mahindra positions itself in the customer’s mind as one entity- “Kotak
”- which can provide customized and one-stop solution for all their financial services needs.
It has an unaided top of mind recall. It intends to stay
With the proposition of “Think Investments, Think Kotak”.
The positioning you choose for your brand will be influenced by the competitive stance you want
to adopt.
Brand Positioning involves identifying and determining points of similarity anddifference to
ascertain the right brand identity and to create a proper brand image.
A good brand positioning help guide marketing strategy by clarifying the brands essence but goals
it help the consumer achieve and how it does so in a unique way. The result of the positioning
is the successful creation of a customer focused value proposition

A starting point in defining a competitive frame of reference for a brand positioning is to

determine Category Membership- the products with which a brand competes and which function
as close substitute. No matter how long you’ve been in business, chances are good that you are
engaged in developing and promoting your brand positioning strategy. You’ll invest plenty of time
in the process of evaluating your products or services in terms of market share, sales and customer
base and comparing this information to that of your competitors. You’ll work to determine how
your customers perceive your business and its major offerings and use the detailed findings to
establish your business at the proper place within that all important target market. Your business
position within the target market will determine your business’s degree of success.

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 1.2 RESEARCH PROBLEM

“A research is the arrangement of conditions for collection and analysis of data in a manner that
aims to combine relevant to the research purpose with economy in procedure” Research design is
needed because it facilitates the smooth sailing of the various research operations, thereby making
research as efficient as possible yielding maximal information with minimal expenditure of effort,
and money

Brand positioning is a medium through which an organization can portray its customers what
it wants to achieve for them and what it wants to mean to them. Brand positioning forms
customer’s views and opinions. This project deals with:

“how the JOYALUKKAS brand has positioned over the competitors brand in the minds of
consumers ”?

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 1.3 SIGNIFICANCE OF THE STUDY

The study is relevant in terms of brand building recognition of the brand from the competitors
brand which leads to the increase in sales and goodwill of the organisation. The marketability of
the product can be found out through analysing its brand positioning. It includes evaluating
quality, demand, reach of product, price margin, taste and preference and loyalty customers of
joyalukkas. The study gives clear picture of the attitude of customers. It reveals the merits and
demerits. It helps the organisation to concentrate on the weaker section and to make improvement
or changes. So it helps to improve the efficiency and ensure the growth of the organisation

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 1.4 OBJECTIVES OF THE STUDY

The primary objective of the study is to find out HOW THE BRAND JOYALUKKAS HAS
POSITIONED IN THE MINDS OF CONSUMERS. The other specific objectives of the study are:

1. To assess the competitive marketing positions of various brands of jewellery items

2. To find out the most recommended brand of the company
3. To find out reach of product among the consumers

4. To analyze the opportunities and threats of jewelry market.

5. To identify the effectiveness of promotional activities by Joyalukkas.

6. To know the influence of brands among consumers.

7. To suggest measures to provide more satisfaction to existing customers and to attract new
customers.

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 1.5. RESEARCH METHODOLOGY

To define any research problem and give a suitable solution for the problem, a sound
research plan is inevitable. Research methodology is the back bone of the research work; it is
the way to systematically solve the research problem. It may be understood as a science of
studying how research systematically solves the research problem and how research done
scientifically.

The study is to find out the influence of brands in the minds of consumers and how it positioned
over the competitors brand. Here the method is used to collect the data is by visiting the joy
alukkas showroom for the period of 3 weeks and through interacting with the staffs and officials
,customers, general public with the help of questionnaire

Research methodology underlines the various steps involved by the researcher in

systematically solving the problem with the objective of determining various facts.

1.5.1 Research Design

A research work will be successful, only with a sound research design .The research design for
the purpose of the study is Analytical in nature.

The major purpose of analytical research is to analyze the state affaires as it exists at present.
Analytical research includes survey and in-depth analysis of variables. The research plan calls for
gathering primary and secondary data. The Sampling Method adopted for the present study is
Simple Random Sampling

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1.5.2 Methods of Data Collection

In this research, the collection of data is from various sources and the are two types.

1. Primary Data

2. Secondary Data

1.5.2.1 Primary Data

Primary data collection was mainly done through the mainly done through questionnaires,
direct interview and telephone contacts. The respondents were approached personally and were
requested to fill up the questionnaire.

1.5.2.2 Secondary Data

Secondary data was collected from Company records, Internet, and books.

1.5.3 Research instrument

The instruments adopted for the primary data collection is through “QUESTIONNAIRE”.

1.5.3.1 Nature of questions in a questionnaire

In an era of high competition and expectations, customer satisfaction surveys

through the questionnaire are essential tools for identifying the customers about their
satisfaction levels, and for developing strategies for improvement. The prime object of this
survey knowing what customers think about the enterprise's products, services and assessing
the customer’s satisfaction is to maximize customer retention, and to gain and build customer
loyalty. It is important to realize that customer satisfaction does not equate to customer loyalty.

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1.5.3.2 Pretesting of questionnaire

A pre-testing of questionnaire was conducted with 15 questionnaires, which were

distributed and all of them were collected back as completed questionnaires.
On the basis of the doubts raised by the respondents, the questionnaire was re-drafted to its
present form.

1.5.4 Sampling Plan

Sampling plan includes sampling unit used in the survey. It also includes the sampling size and
the sampling procedure used for the survey.

1.5.5 Sampling unit

The sampling unit is the Customers of Joyalukkas

1.5.6 Sampling size

The sample size was selected based upon simple random sampling. For the purpose of study 50
samples are taken from one district.

1.5.7 Sampling Frame

The study has been carried out in the Showroom of joyalukkas situated in the marine drive
Cochin, Ernakulam

1.5.8 Period of the study

The research periods were from 2nd October to 4th November 2007.

1.5.9 Sampling Procedures

Simple Random sampling in the district of Ernakulam

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1.5.10 Contact Method:

The method used to contact the respondent was direct interview. The researcher selected direct
contact method because there is no scope of contacting the dealers through telephone or direct
mail. By telephone interview the respondent’s characteristics and environment cannot be observed.
The response rate for mail survey is low. Hence the resulting sample will not be representative
one.

1.5.11 Analysis of Data

Datas are analysed through analytical statistics using correlation, the hypothesis are
tested.

1.5.12 Presentation of data

Percentage method, tables and charts are used to present the data.

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 2. REVIEW OF LITERATURE

2.1 Brand positioning

Brand positioning is a medium through which an organization can portray its customers what
it wants to achieve for them and what it wants to mean to them. Brand positioning forms
customer’s views and opinions .Brand Positioning can be defined as an activity of creating a
brand offer in such a manner that it occupies a distinctive place and value in the target customer’s
mind. For instance-Kotak Mahindra positions itself in the customer’s mind as one entity-
“Kotak ”- which can provide customized and one-stop solution for all their financial services
needs. It has an u n a i d e d t o p o f m i n d r e c a l l .
I t i n t e n d s t o s t a y w i t h t h e p r o p o s i t i o n o f “ T h i n k Investments, Think Kotak”.
The positioning you choose for your brand will be influenced by the competitive stance you want
to
adopt.B r a n d P o s i t i o n i n g i n v o l v e s i d e n t i f y i n g a n d d e t e r m i n i n g p o i n t s o f s i
m i l a r i t y a n d difference to ascertain the right brand identity and to create a proper brand
image.

Brand Positioning is the key of marketing strategy. A strong brand positioning directs marketing
strategy by explaining the brand details, the uniqueness of brand and it’s similarity with the
competitive brands, as well as the reasons for buying and using that specific
brand.Pos itioning is the base for dev elopin g and increa s in g the
required know ledge and perceptions of the customers. It is the single feature that sets your
service apart from your competitors. For instance- Kingfisher stands for youth and excitement. It
represents branding full flight.

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Defining Values and Principle
You already know how to do this –Your values and principle are part of your Org and
Brand drivers!!! –K eller calls principle “Brand Mantra”

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Your Values, Principle, and position all are related – N O T E : K e l l e r s a y s
t h a t a s s o c i a t i o n s a r e v a l u e s , b u t w e h a v e a s t r i c t e r definition of associations
from the IBM.

Brand Positioning Strategy

Brand positioning is an essential element of a winning branding strategy. Positioning
simply refers to how your product or service is viewed in the minds of prospects and
customers relative to other products or services available in your niche. The term positioning
has two connotations: a vertical and a horizontal one. In terms of the vertical connotation,
the term refers to the order in which your product ranks relative to the products of your
competitors in the minds of your customers in your industry niche.(For example, which
product comes to mind first when I say the word cola?)
In terms of the horizontal connotation, the term refers to the qualities and attributes your product
represents in the mind of your customers, again relative to your competitors. While you cannot
directly control the ranking that your product or service enjoys in the minds of your customers,
you can influence how you position the product in terms of qualities and attributes. That
is, by properly positioning your product relative to your competitors in the minds of your
customers, you will have much more control over how your brand is perceived in the marketplace.
You will then effectively have a guide or map for how to execute your branding strategy.

Effective Brand Positioning

No matter how long you’ve been in business, chances are good that you are engaged in
developing and promoting your brand positioning strategy. You’ll invest plenty of time in the
process of evaluating your products or services in terms of market share, sales and
customer base and comparing this information to that of your competitors. You’ll work to
determine how your customers perceive your business and its major offerings and use the detailed
findings to establish your business at the proper place within that all important target market. Your
business position within the target market will determine your business’s degree of success.
If you think you can manoeuvre into a more profitable place, do so by adjusting your products
or s ervices to more closely match the desired position (know n as
re- positioning), or pursue strategies that change customer perception of the products

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and services offered by your competitors (de-positioning).Here are some strategic tips that can
help you to be as effective as possible during your brand positioning process:
1. Understand brand positioning as fully as you can, especially in the way that it directly affects
your business. Businesses, especially smaller ones, are very diverse in their needs a n d
offerings, and it might take quite a bit of effort to even be sure that you
a r e positioning yourself within the correct market. Look closely at the businesses
sharing your pool of regular customers, their purchasing patterns and the roles that your
business plays in their everyday lives.
2.D evelop the most efficient method pos sible for gathering customer
information.
Remember that you’re trying to get ins ide their heads and back out again w ith
an unvarnished look at how they see your business in terms of the benefit that it provides
for them. You might consider questionnaires, phone surveys or online surveys and offer
a small bonus to compensate customers for their valuable time.
3. Determine which of your products and/or services are the most popular or powerful, so that you
can use them to build on or adjust your overall positioning strategy.

4. Rank all of your products and/or services in terms of positive customer review and in relation to
those of your competitors.
5. List the most popular group of attributes that describe your business and products from the
viewpoints of your customers and combine them to reach your ideal vector…
the pos ition in your target market from where your business can operate at the
highes t possible level of strength.
6. P roduct based bus ines ses can complete the positioning process more
Easily than s e r v i c e b a s e d b u s i n e s s e s . A f t e r a l l , y o u r c u s t o m e r s c a n s e
e , t o u c h a n d w a t c h demonstrations of your products to see how they work and visualize
their benefits. Here are some hints for exploring how customers perceive your business and its
services C r e a t e s i m u l a t i o n s , d e s c r i p t i o n s o r c a s e s t u d i e s s h o w i n g
p r o v e n r e s u l t s . Find out how customers view your services in terms of value, results and
convenience.
7. Regardless of your business type, take the information about customer perception that you’ve
gathered, determine your top benefits and attributes and use them

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todeterminey o u r c u r r e n t p o s i t i o n i n g a n d h o w f a r t h a t p o i n t i s f r o m y o u r i d
e a l v e c t o r i n t h e marketplace.
8. Decide whether you are satisfied with the current positioning of your business,
or whether you need to change your strategy. Consider your target market and decide if
your business is positioned in such a manner that it maximizes every opportunity for visibility in
that market. Finally, keep in mind that positioning can be either an active or passive
process. If you choose not to fully engage in it – it will still take place. Don’t
give up the valuable opportunity to monitor and influence the process and increase
profitability

Five Factors of Brand Positioning

1. Brand Attributes
What the brand delivers through features and benefits to consumers.
2. Consumer Expectations
What consumers expect to receive from the brand?
3. Competitor attributes
What the other brands in the market offer through features and benefits to consumers.
4. Price
An easily quantifiable factor – Your prices vs. your competitors’ prices.
5. Consumer perceptions
The perceived quality and value of your brand in consumer’s minds (i.e., does
your brand offer the cheap solution, the good value for the money solution, the high-end,
high- price tag solution, etc.?).
In order to Position a Brand…
You must decide – W h o t h e Ta r g e t C o n s u m e r i s – W h o y o u r m a i n
c o m p e t i t o r s a r e –How the Brand is s imilar to your competitors –H ow the
Brand is different from your competitors .
Brand Positioning
A good brand positioning help guide marketing strategy by clarifying the brands essence but goals
it help the consumer achieve and how it does so in a unique way. The result of the positioning
is the successful creation of a customer focused value proposition

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A starting point in defining a competitive frame of reference for a brand positioning is to
determine Category Membership- the products with which a brand competes and which function
as close substitute.
Points of Parity and Point of Difference
Once the competitive frame of reference for positioning has been fixed by defining the customer
target market and nature of competition, marketers can define the appropriate points-of-difference
and point-of-parity associations.

Point-Of-Difference

POD's are attributes or benefits consumer strongly associates with a brand, positively
evaluated, and believe that they could not find the same extant with a competitive brand. Strong,
favourable and unique brand associations that make up POD.
Point-of-Parity
POP's on the other hand, are associations that are not necessarily unique to the brand butmay in
fact be shared with other brands. These types of associations come in two basicforms:

1. Category

2. Competitive

Category POP's are associations consumers view as essential to be a legitimate and

credible offering within a certain product or service category. Competitive POP's are
associations designed to negate competitors' points-of-difference.

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 3.1 INDUSTRY PROFILE

The word jewellery is derived from the word “jewel” which was anglicized
from the old French “joule”. Jewellery is one of the oldest forms of body adornment. The first
piece of jewellery was made from natural minerals, such as bone, animal teeth, shell and wood
and carved stone. Jewellery was often made to show their status and they were buried with the
jewels. Jewellery has been an integral part of the Indian culture and civilization since ancient
history. They were in demand and fashion since ancient civilizations as Harappa and Mohenjo-
Daro. Traditional jewellery is the latest ones that are continuously increasing in demand. The
past decade witnessed the global gem and jewellery industry undergoing some significant
changes and registering strong growth, on account of increasing income as well as demand
from the emerging economies across the world. Among the various types of jewellery, plain
diamond jewellery accounts for the largest share of the global jewellery market, followed by
plain gold jewellery. Diamond, gold and platinum are the three main product segments, which
collectively account for approximately 95% of the global retail jewellery sales in value terms.
A geographic segmentation shows the US as the largest consumer for gems and
jewellery, followed by China/ India, the Middle East and Japan. In the European region, the
UK and Italy are the largest consumers, with the former also being one of the world’s largest
jewellery fabrication centers. The emerging markets, like China, India that are traditional
jewellery centers of consumption, are showing signs of becoming the largest consumption
markets by 2015, for both traditional as well as branded jewellery. The growth in the demand
for gems and jewellery is attributed to the rich-class as well as the improving living standards.
The industry continues to face problems due to competition from other luxury goods, as well as
socio-ethical issues.

India's gems and jewellery industry is one of the most competitive in the world due to its
low cost of production and the wide availability of skilled labor. However, the economic
slowdown has impacted the industry that has witnessed the export demand leading to many
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hundreds of thousands becoming jobless. Worldwide, the gems and jewellery industry had been
growing at a good pace and is currently estimated at $150 billion or more per year. In India, it
accounts for nearly 20% of total national exports and employs nearly a million people directly
and indirectly, according to an Associated Chambers of Commerce & Industry report, despite
the fact that significant job losses have taken place in the recent past. India’s polishing industry
has a worldwide distribution network, which has been established over a period of time.
India has set up more than 3,000 offices worldwide for promotion and marketing of
Indian diamonds. The Indian diamond industry has acquired leadership position in cutting and
polishing of rough diamonds. India has the world's largest cutting and polishing industry,
employing around 800,000 people with more than 500 hi-tech laser machines. The industry is
well supported by government policies and the banking sector. Around 50 banks provide nearly
$3 billion credit to Indian diamond industry. Traditionally, gold has held the leading position in
most of the jewellery markets worldwide because of the value and tradability factor associated
with it. Though the total consumption of plain gold jewellery decreased in volume terms, the
overall sales of gold recorded gain in value terms. In the meantime, the demand for platinum
jewellery has also increased in the recent past.
Gold:-
The word ‘GOLD’ is often thought synonymous with wealth. So many wars have
been fought to make it their own. Long before, many did not consider platinum to be valuable
because of its ordinary looks, but gold has been highly valuable since prehistoric days for its
great look. There is no civilization which has not mentioned about gold. Several mentions
about gold have been made in all the holly books of Mahabharata to Old Testament.
During the 19 th century many discoveries of gold deposits were made and gold
rushes occurred in California, Colorado, Otego, Australia, black Hills etc. from ancient times,
gold has been connected with the religion and spirituality. It was always associated with the
sun. There are so many temples and statues made from gold.

Kings and queens longed to wear the golden crown. The sincerity and sanctity of pure gold
created a tradition for wedding rings since it is long lasting and unelected by the passage of
time. Today great achievements are sometimes rewarded with gold in form of medals. Also,
decoration like Olympic medals, Noble prizes and various awards for excellence in different

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fields are awarded with medals or statutes. Gold is always associated with the best like the
Golden Era, or Golden Wedding Anniversary, etc. so why is gold awarded for achievers? Why
does the central bank accumulate gold? Why should the general public rush for gold? There are
so many people behind gold and each one has got a reason. Yes, there are numerous reasons
behind the gold rush. There is no other metal in the world, which possess so many benefits. To
say a few;
 It is the most malleable and ductile metal known and can be mane in to tread and used in the
embroidery.
 Gold performs critical functions in computers, spacecrafts, jet aircraft engines and so many
other products
 It is used in the field of medicine
 In jewellery manufacturing.

Purity of gold:-
Increasingly, jewellery manufacturers and retailers are implementing quality assurance
system to meet the need in the market. Sine proof of cartage conformance is of prime concern
to the consumers, jewelers are now compelled to have carat checking machines at every store.
Gold is a chemical element in the periodic with the symbol Au and atomic number is 79. Gold
is a metallic element with a characteristic yellow colour. It is the most malleable and ductile
metal. A single gram can be beaten into a sheet of 1 sq.mt. Gold readily forms alloys with
many other metals. These alloys can be produced to increase the hardness or to create exotic
colour.
Pure gold is too soft for ordinary use and is hardened by alloying with silver, copper
and other metal. When selling it in form of jewellery gold is measured in carats (k) with pure
gold being 24k. But it is commonly sold in lower purity of 22k, 18kand 14k. The most
commonly used alloys for jewellery in Europe are 18k and 14k, although 9k is popular in
Britain, in the United States 14k predominates. In the Middle East India and South East Asia,
jewellery is 22k; sometimes even 23k in China, Hong Kong and some parts of Asia pure gold
jewellery of 990 finesse (almost 24k) is popular.

Bureau of Indian Standard (BIS):-

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 In many countries the law requires that every item in gold jewellery be clearly
stamped its cartages. This is often Hall in the 14th century. Today it is compulsory in many
countries. But in India, it is not compulsory and many don’t follow the standard. The
government of India is planning to make BIS Hallmarking mandatory from January 2008.
Since Hallmarking involves time, cost and lesser profits many are very apprehensive. Today
the competition in retailing is so high that the jewelers are compelled to sell at low mark-up of
only 8%-15% for the gold price of the day. So to many jewelers, small and big, Hallmarking is
a cause of concern of bureau of Indian standards (BIS).
Government of India has identified BIS as a sole agency in India to operate this
scheme. BIS hallmarking scheme has been elegant with international criteria on hallmarking
(Vienna Convention-1972). As per this scheme, the license is granted to the jewelers by BIS
under product certification scheme. The BIS certified jewelers could get their jewellery
hallmarked from any of the BIS recognized Assaying and Hallmarking centers. A sample is
drawn from the retailer premises for independent testing. Based on the satisfactory preliminary
inspection report and test report of the sample is drawn during the inspection, license is granted
to the jeweler. BIS maintains surveillance on the certified jewelers at a defined periodicity.
Deviations in the degree of purity of the fine metal and observance of operations not in
conformance to the system may result in cancellation of BIS license and invoke legal
proceedings.

Indian jewellery:-
The Indian sub-continent has the longest continuous legacy of jewellery making.
By western traditions where heavily influenced by waxing and waning Empires. India enjoyed
a continuous development of art forms for some 5000 years. One of the first to start jewellery
making was the people of Indus valley civilization. By 1500 BC the people of Indus valley
were creating gold earnings and necklaces, bed necklaces and metallic bangles. Before 2100
BC; prior beads were often painted with designs. This art form was often passed on trough
family. Although women were jeweled the most, some men in the Indus valley wore beads.
Interestingly, India was the first country to mine diamond with some mines dating back to 296
BC.

Kerala jewellery:-
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 Though the state is fast changing its trend, and there is a vast difference in tastes
displayed by jewellery buyers, traditional values will never be abounded in Kerala. Kerala is
the first of all popular for the high quality of gold used in jewellery. The jewellery like much
other Indian jewellery is inspired by various forms of nature- leaves, snakes, frits, birds,
animals, flowers, seeds and various art and spiritual forms. Ornaments are usually very light, so
very expensive also. Today newer methods, techniques, and machineries are used in
production. Kerala is famous for its light weight Jhumkas, Manga maala, Palaka Thaali,
Mullamottu Maala, Kassu Maala, chittu, Maekathu Mothiram and that goes on.
World Gold Council (WGC):
The world gold council is a non profit association of the worlds leading gold
producers, established to promote gold. With headquarters in Geneva, it achieves through the
world to improved gold products and its distribution systems. They provide specialist gold
information and economic services to large holders of the gold. Its primary focus in recent
years has been on facilitating the removal of structural impediments to the free flow gold,
thereby encouraging its more widespread and acquisitions and retention.

Overview of Gold industry in India:

 India is the largest consumer of gold in the world followed by China and Japan
 India dominates the world’s cut and polished diamonds market.
 India is emerging as world’s largest trading center of gold with a target of US$18 bn set for
2011
 Surat contributes 90% of India’s total diamonds exports.
 India domestic branded jewellery market is estimated at 600-700 cores.
 India Gem and Jewellery Exports Promotion Council (GJEPC) is aiming at turning India into
an international diamond trading center.
 India’s imports an average of 1800 bars a day, about 70%of the total demand and the balance
is being sourced to indigenous output and metal recycled old jewellery.

Current Trends in Jewelry

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 Multi-Chain Necklaces: If you have worn necklaces for a while now and
like them, you can try a different style of sporting a necklace with multiple chains. Such
oversized multi-chain necklaces are decorated with medallions, metal balls, and outsized
colorful gemstones.
Pendant Earrings: The fashion of these types of jewelry has stayed strong in all seasons, and
has never gone out of style. You can wear pendant earrings which have a blend of garnet, black
diamond, topaz, gold stones, seed bead detailing, and similar accents. Read more on pearl
jewellery.
Fashionable Bib Necklaces: Bib necklaces are jewelry which consist of two or more layers of
gemstones or chains arranged in a stack against each other to form a 'bib' shape around the
neck. Many personalities from the fashion world are flashing these necklaces which may also
become a style statement and a fashion trend for some. You can find ones with different
classification of colors, accents, and patterns.

Chains having Metal and Leaf Patterns: Mesh chains ornamented with metal discs, outsized
metal flowers, bronze leaf patterns, and feather motives are also becoming a latest fad in the
fashion industry. If you want to be simple, yet in accordance with the current jewelry fashion,
you can opt for wearing a chain with a gold leaf or flower cutout.
These are few of the latest trends in jewelry, however, the jewelry that people wear totally
depend on the choices they make. You can certainly wear any jewelry, but simply make sure
that it matches your attire and your personality.
Jewelry Trends in 2012
Coming out of the recession that made us all a bit nervous and tightening our pocketbooks...
we have pared down to a simple way of looking at things. Big and bold gives us two distinct
feelings when it comes to our jewellery: Extravagant and safe. These are the feelings that
played out during these tough economic times and now we have a different feeling ahead of
us... a sense of relief, a sense of balance and beginning. Whenever we feel as consumers that
the time is right for paring down, we focus on simple designs and simple, warm colours. Plain
metals and eco friendly materials: wood, bone, simple and soft semi-precious stones with Earth
colours and a simple palette will prevail for 2012. This is our breathing room. This is our
nervousness winding down.

24
Gone are the statement necklaces of the past two years and in with the thinner, yet charming
and graceful strands. Creativity will over run our need for security and gentle pairings of
blackened metals and all natural materials: pearls, bamboo and recycled media will tone things
down considerably.

Pearls will be the big player as we see them with different eyes than ever before. They will
convey a sense of hope and simplicity with tones that will match anything in your wardrobe. If
the recession keeps us as consumers from buying everything we want and making smarter
choices, we will have to go with what we can get the most mileage from. I know one very
positive thing: we needed this recession. We needed to correct the overdone hype and over-the-
top, crowded marketplace with designers that are not taking themselves too seriously! I
welcome the very simple, yet creative work that will be here for us this year.

3.2 ORGANIZATION PROFIL

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 Joyalukkas is a popular jewellery retail chain that has rapidly expanded its presence
across India in the past few years. Today the jewellery retail chain has strongly marked its
presence in the states of Tamil Nadu, Kerala, Karnataka & Andhra Pradesh and is also
present in the cities of Mumbai, Puducherry, Guragon (Haryana). Joyalukkas employs a
highly committed and trained team of over 2,300 employees across its various locations in
India. The success and growth of Joyalukkas has been driven by its unstinting
commitment to quality, a fact that has been widely recognized by its growing customer
base.

Joyalukkas jewellery is an ISO certified jeweller which has won many awards
and recognition for its excellent business practices and skilled jewellery retailing. The most
recent being the Retail Chain of the Year and Best Single Store (Joyalukkas Chennai
Showroom) at the ‘National Jewellery Awards 2011” organized by the All India Gems and
Jewellery Trade Federation (GJF), it has also been recognized for being The Highest VAT
Paying Jewellery Group at the Kerala Gem and Jewellery Show organized by The Department
of Industries and Commerce, Government of Kerala.

Joyalukkas is renowned within its customer base for its commitment to choice,
quality, service, value and convenience. It is one of the consistently growing jewellery retail
chains in India. Joyalukkas is currently operating 23 jewellery showrooms across India. Plans
to open an additional 14 new showrooms are already in place, and Joyalukkas to complete the
expansion plans by September 2013. Joyalukkas showrooms offer a wide variety of jewellery
in Gold, Diamonds, Pearl, Platinum & Precious Stones. Some of the Joyalukkas showrooms
also feature silver jewellery and silver items.

Joyalukkas Group has always believed that people and the community within
which it operates are the cornerstones for its success and as such is actively involved in CSR
(Corporate Social Responsibility) activities across various states in India. Joyalukkas
consistently undertakes various programs to help the needy and encourage causes that benefit
the society. From building homes to helping flood victims when they require financial
assistance, the Group has always believed in being there when needed the most.

26
HISTORY

Joyalukkas, followed in his visionary father’s footsteps and expanded the

‘Joyalukkas’ name to a global level. His father Varghese Alukkas started his first jewellery
showroom way back in 1956 and since then Joyalukkas has made ‘Joyalukkas’ an household
name in jewellery. Joyalukkas took his first step by setting the jewellery showroom Kerala in
the year 2002, since then there has been no looking for joyalukkas.

As a part of its expansion, Joyalukkas opened a number of outlets in states of Tamil

Nadu, Karnataka, Maharashtra, Andhra Pradesh and Delhi. He has his ear to the ground, his
finger on the pulse and his feet on the ground. The fact is Joyalukkas got to where he is
because he never compromised with its corporate values and strongly believed that satisfied
customers are the backbone of a company.

It was due to his vision again that, Joyalukkas CSR (Corporate Social
Responsibility) efforts were given shape through unique business models. Such an effort is the
first of its kind taken up by any jewellery retail chain. For someone who has rarely –if ever –
based his decisions on the more modern management tools such as graphs, scales and
projections, Joyalukkas‘s meteoric rise is a role model of entrepreneurial grit and intuitive
enterprise.

Joyalukkas revolutionized retail jewellery trade in India by introducing training

programs for its employees and also brought the concept of “wedding centre” within the
jewellery store. Many a feathers are attached to the success hat of Joy Alukkas, including the
opening of the world’s largest showroom and the first Diamond Cave in Chennai, India,
considered the jewellery hub of India. The phenomenal success of this showroom and this
unique concept has proved his foresight and business acumen.

27
THE CORPORATE VISION

To become a global brand by ornamenting the world.

THE CORPORATE MISSION

To improve and enrich lives everywhere by offering extraordinary lifestyle solutions

backed by incomparable value-additions, adhering to globally approved processes and norms
and creating a successful value- chain for our associates.

THE QUALITY AND ENVIRONMENTAL MANAGEMENT POLICY

The management and staff of Joyalukkas here by commits to enrich the quality of life
by offering innovative life-style solutions backed by incomparable value-addition, adhering to
globally approved processes and norms. The very basic existence of the global conglomerate is
to achieve total customer delight by ornamenting and attiring the world. Our every business
activity reflects the commitment for sustainable growth, protection of environment, health and
safety of employees. Joyalukkas relentlessly focus on continual improvement, by setting and
reviewing quality and environmental objectives which is reviewed and is effectively
communicated throughout the organization and is made available to public.

The core principles and values

 A rentless focus on the need of our clients.

 Team work and individual performance be at the heart of all we do.

 Our reputation is nothing.

 The core values that we practice includes ‘Trust’, ‘Integrity’, ‘Respect’, ‘Service
Excellence’, ‘Team work’ and ‘Compassion’ during all our actions and deliverables.

28
 PRODUCT PROFILE

PRODUCT

JEWELLERY TEXTILE/APPARELS

GOLD DIAMOND PEARL PLATINUM &

PERCIOUS STONES

WEDDING AND ACCESSORIES

OTHER APPARELS

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GOLD COLLECTION

DIAMOND COLLECTION

PEARL COLLECTION PLATINUM & PRECIOUS

GEMS

30
 1.4 DEPARTMENT PROFILE

1.4.1 MARKETING DEPARTMENT

Marketing is defined as all organized efforts, activities and expenditures designed

to first, acquire a customer and, second, maintain a customer. 1 The marketing department is a unit
of organization, traditionally charged with carrying out specific task that are deemed to be
marketing such as advertising, marketing research. As the definition would suggest the marketing
department customer acquisition and customer maintenance efforts go beyond the organizational
boundaries of the marketing department. When all departments know and understand their role and
importance in the marketing process, the functions of marketing work better. The marketing
department works better. Usually, the role of marketing is viewed from the inside of an enterprise
looking out to the market place. In many instance, the marketing function should provide the
perspective of the market place looking in.

Critical Marketing functions include:

1. Identifying the important constituencies with in the market place

2. Identifying and valuing specific target purchaser/ user groups for the product. (Also known
as target audiences or market segments).
3. Communicating with the market place.
4. Conducting transactions with the market place.
5. Obtaining on-going feed back from the market place. obtaining feed back also means
understanding the environmental conditions that the enterprise operates in, the product is
1
http://www.tannedfeet.com/difference_marketing.htm

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 marketed in. spending on research is essential to direct the development of a product or
service and the development of communications messages necessary to acquaint potential
customers with the product or service, in still them positive feelings about the product or
service and motivate them to purchase.

1.4.2 SALES DEPARTMENT

The selling function is an important element of the overall marketing process.

Many organizations establish a separate sales function, apart from other elements of the marketing
process. This is often a sound business strategy but can lead to a chasm between Sales and the
other marketing elements. Even when both are contained within a unified Marketing Department,
separate sales and marketing groups often create the situation where they have competing views of
the marketplace, competing objectives and competing priorities (e.g., budget, prestige).

One area that often creates the opportunity for jurisdictional disputes and other serious problems is
lead generation. In many instances, some component of the Marketing Department is responsible
for developing leads and then turns them over to the Sales Department. "Discussions" over the
timing and quality of leads are a top topic at almost all Sales-Marketing joint meetings. It makes
sure that planning and executions of plans are always coordinated, and that all programs are
integrated across both marketing and sales efforts.

1.4.3 HUMAN RESOURCE DEPARTMENT

A company is incomplete without a human resource department so it is said. But, it’s

true as the very existence of a human resource department is vital to overall productivity and
efficiency of the strong workforce in any thriving organization. In fact, good human resources can
be one of the most valued and respected departments in an organization; their job is managing
people, and people are the company’s most important asset.

32
 One of the major roles of a human resources department in a successful business
involves a lot of observation and analysis from behind the scenes. Indeed, the intelligence of the
human resources department often involves what can be equated to “crunching numbers.”
Compiling complex data and metrics that follow the performance of individual employees, as the
move through the workforce is an important task, which has helped human resources, work out
crucial solutions to inefficiency, wilting profit margins and more.

Due to the sensitive nature of human relations and the work that human resources
departments must carry out, discretion is a crucial element to this field. That’s because the
management of performance can often involve tough decisions such as choosing who to let go,
who to promote and who to hire. Keeping the decision making process behind closed doors is an
ethical practice that breeds the least amount of contention possible.

1.4.4 FINANCE DEPARTMENT

Finance Department largely performs the function of advising the Government on

all financial matters. The formulation of the Budget is one of its most important functions. Finance
department is also entrusted with the responsibility of framing rules regulating pay, emoluments
and other service conditions of all Government employees. It has administrative control over the
departments of Local Fund Audit, Directorates of National Savings, State Lotteries, State
Insurance and Treasuries. The department is headed by the Principal Secretary and has two
Secretaries in charge of expenditure and Finance Resources. The functions of Finance Department
are Preparation of budget, appropriation of accounts, re-appropriations, surrender and savings.

33
 4. DATA ANALYSIS AND INTERPRETATION

4.1. Table showing the age wise classification of the respondents

AGE WISE CLASSIFICATION Column1 Column2

No of
Age Group Respondents Percentage
0- 25 24 48
25-40 25 50
40 above 1 2
Total 50 100

4.1. figure showing the age wise classification of Respondents

Interpretation: From the above table and figures reveal that majority of the gold
buyers are young people 48% of people are below 25 and 50% are between 25 and
40 and the rest are above 40

34
4.2. Table showing gender wise classification
GENDER WISE
CLASSIFICATION Column1 Column2
Gender Frequency Percentage
Male 20 40
Female 30 60
total 50 100

Interpretation: From the above table and figures reveal that 60% of the gold
buyers are female and the remaining 40% are males.

35
4.3.Table showing the marital status of people

table showing the marital status of

people Column1 Column2
Marital status frequency Percentage
Single 28 56
Married 22 54
Total 50 100

4.3)

Interpretation: From the above table and figures reveal that 56% of the
respondents are single and 54% are married

36
4.4. Table showing the educational qualification of the people

table showing the educational qualification of the

people Column1 Column2
Response frequency percentage
SSLC 2 4
PLUS TWO 9 18
DEGREE 26 52
PG 12 24
OTHER 1 2
Total 50 100

4.4. Figure showing the educational qualification of people

Interpretation: From the above table and figures reveal that 52% of the
respondents are degree holders and 24% are PG holders and 18% people are plus
two and 4% people are SSLC the remaining having other qualifications

37
4.5. Table showing the occupation of the respondents

Column1 Column2 Column3

table showing the occupation of the respondents

Response frequency percentage

public service 2 4
Private 41 82
self employed 4 8
Agriculture 2 4
NRI 0 0
Business 1 2
Others 0 0
Total 50 100

4.5.

38
Interpretation: From the above table and figures reveal that majority of the respondents are
working in private sector and the next level of peoples is self employed. Remaining is in public
service and doing business etc.

4.6. Table showing the family income of the respondents (Monthly)

table showing the family income of the
respondents Column1 Column2
Response Frequency Percentage
less than10000 12 24
10000-15000 14 28
15000-20000 13 26
more than 20000 11 22
Total 50 100

4.6.

Interpretation: From the above table and figures reveal that 28% of the respondents having the
income of10-15 thousand per month and 26% people having 15-20 thousand and 24%are below 10
thousand 22% people are earning above 20 thousand per month.

39
 4.7. Table showing most preferred brands of the respondents
table showing most preferred
brand of the respondents Column1 Column2
Response frequency percentage
Joy alukkas 31 62
Kalyan 10 20
Josco 3 6
Bhima 5 10
Malabar gold 1 2
Chemmannur 0 0
Total 50 100

4.7.

40
Interpretation: From the above table and figures reveal that 62% of the respondents prefer
joyalukkas and 20% prefer kalyan and 10% go with Bhima in remaining 8% Josco attracts 6% and
remaining 2% are with Malabar gold

4.8. Table showing the brand awareness of respondents through different Medias

table showing the brand awareness through different

medias Column1 Column2
Response frequency percentage
word of mouth 15 30
T.V adv 19 38
Newspaper 8 16
Bill Boards 0 0
company branches 5 10
Journals 2 4
Magazines 0 0
Internet 1 2
Total 50 100

4.8. Figure showing the brand awareness of respondents through different Medias

41
Interpretation: From the above table and figures reveal that 38% of the respondents aware
about joyalukkas through T.V Advertisement and 30% by word of mouth and through news paper
16% know Joyalukkas 10% people knows joyalukkas through company branches and 4% with the
help of journals and 2% through internet

4.9. Table showing the respondents preference to joyalukkas

table showing the preferrence of joy alukkas Column1 Column2

Response Frequency Percentage
Yes 50 100
No 0 0
Total 50 100

4.9. Figure showing the respondents preference to joyalukkas

42
Interpretation: From the above table and figures reveal that the respondents are mostly prefer
joyalukkas for buying gold

4.10. Table showing the different factors affects the consumers when buying gold

table sowing the affected factors of buying gold Column1 Column2

Response Frequency Percentage
Quality 24 48
Reasonable price 2 4
Better sales service 10 20
Brand name 13 26
Ambiance 1 2
Total 50 100

43
4.10. Figure showing the different factors affects the consumers when buying gold

Interpretation: From the above table and figures reveal that the 48% respondents Buy gold
from joyalukkas because of the Quality provided by them and 26% because their brand name 20%
looking for the customer service remaining 4% go for reasonable price and 2% buy gold because
of the ambiance provided by joyalukkas

4.11 Table showing the Response of customers on customised products

table showing the customer openion of customised products from

joy alukkas Column1 Column2
Response Frequency percentage
Yes 50 100
No 0
Total 50 100

44
4.11. figure showing the Response of the customers on customised products

Interpretation: From the above table and figures reveal that the respondents gets customised
products from joyalukkas

4.12. Table shows the response towards pricing of the products of Joyalukkas

table showing the details of the analysis made on the pricing

of joy alukkas Column1 Column2
Response Frequency Percentage
Yes 41 82
No 9 18
total 50 100

45
4.12. Figure shows the response towards pricing of the products of Joyalukkas

Interpretation: From the above table and figures reveal that the respondents are satisfied with
the pricing of the products of joyalukkas

4.13. Table showing The Response towards branding strategy of Joyalukkas

table showing branding strategy

of joy alukkas Column1 Column2
Response Frequency Percentage
highly effective 11 22
effective 37 74
not much effective 2 4
total 50 100

4.13. Figure showing The Response towards branding strategy of Joyalukkas

46
Interpretation: From the above table and figures reveal that the branding strategy of
joyalukkas is effective in the opinions of 74% people and 22% people impressed with the branding
strategy as they are responding as it is highly effective

4.14. Table showing the influence of promotional activities of different brands

table showing the acceptance of brands

promotional activities Column1 Column2
Response Frequency percentage
Joyalukkas 40 80
kalyan 5 10
josco 3 6
bhima 2 4
malabar gold
chemmannur
others
total 50 100

47
4.14. Figure showing the influence of promotional activities of different brands

Interpretation: From the above table and figures reveal that the promotional activities of
joyalukkas is effective among other jewellers with 80% lead

4.15. Table showing the brand recognition with product category

table showing recognising of

product category Column1 Column2
Response Frequency Percentage
jewellery 25 50
textiles 16 32
air charter service 6 12
money exchange 3 6
total 50 100

4.15.Figure showing the brand recognition with product category

48
Interpretation: From the above table and figures reveals the jewellery is the most recognised
category of joyalukkas

4.16. Table showing the effectiveness of product differentiation

table showing product diffrentiation

effectiveness Column1 Column2
Response Frequency Percentage
Strongly Agree 8 16
Agree 40 80
Moderately Agree 2 4
Disagree
Strongly Disagree
total 50 100

4.16. Figure showing the effectiveness of product differentiation

49
Interpretation: From the above table and figures reveals that 80% of peoples are agreeing that
the product differentiation of Joyalukkas is effective

4.17. Table showing the response towards the location of the Joyalukkas

Location of the company is appropriate Column1 Column2

Response Frequency percentage
Strongly Agree 13 26
Agree 36 72
Moderately Agree 1 2
Disagree
Strongly Disagree
total 50 100
4.17. Figure showing the response towards the location of the Joyalukkas

50
Interpretation: From the above table and figures reveals the location of the company is
appropriate

4.18. Table showing the response towards pricing of the product

table showing the pricing of the

products is effective Column1 Column2
Response frequency percentage
Strongly Agree 7 14
Agree 43 86
Moderatly Agree 0
Disagree 0
Strongly Disagree 0
total 50 100

4.18. Figure showing the response towards pricing of the product

51
Interpretation: From the above table and figures reveals that pricing of the products are
effective by 86% of people’s opinion

4.19. Table showing the attracted branding techniques of Joyalukkas towards respondents

Response Frequency percentage

press adv 26 52
e- media adv 8 16
better quality of
products 2 4
better customer
service 14 28
total 50 100

4.19. Figure showing the attracted branding techniques of Joyalukkas towards respondents

52
Interpretation: From the above table and figures reveals that press advertisement has attracted
52% of the customers to Joyalukkas and 28% attracted by better customer service

4.20. Table showing important area to be concentrated to increase the brand image of Joyalukkas

Response Frequency percentage

Frequency Adv 18 36
Frequent sales promotion 12 24
focus on quality improvement 2 4
compititive pricing 7 14

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 improving customer service 11 22
Total 50 100

4.20. Figure showing important area to be concentrated to increase the brand

image of Joyalukkas

Interpretation: From the above table and figures reveals that36% of people go with frequent
advertisement is the effective way to increase the brand image of Joyalukkas and 24% of people
agree with other sales promotion activities improve the brand image .22% of people are looking
for good customer service. Competitive pricing is matter for another 14% of people. 4% of people
explain to have focus on quality improvement

5. 1 SUMMARY

 The research reveals that the customers are very much brand oriented in buying gold.

 The survey reveals the importance of brand and how it helps to increase the sales.

54
  The study also reached that the gold market is highly volatile.

 Customers have selected their most preferred brand as Joyalukkas because of their
customer relation and service offering to them and the brand endorsement etc.

 Customers given more importance to the customized products and trendy designs of
jewelries.

 The study reached that the customers are interested in buying gold based on many factors
such as Brand name, Services, Pricing, Advertisements etc
 The survey reveals that most of the customers are brand loyal in purchasing jewelry items.

 The study reveals that most of the customers prefer Joyalukkas as per their choices and
most of them are agreeing on the global recognition of the brand has attracted them.

 The marketing strategies of Joyalukkas are very much impressed the customers of
Joyalukkas.

5.2 FINDINGS

The study was conducted on the topic “A STUDY ON THE BRAND

POSITIONING OF JOYALUKKAS”. Findings from study are listed below.

As per the Objective

55
 The brand positioning of Joyalukkas India Private Limited is effective. So it can be
concluded that the Brand positioning of Joyalukkas India Private Limited is good.

As per analysis

 Joyalukkas is one of the most accepted brand in the jewelry industry

 The survey revealed that the Joyalukkas brand has positioned well in the minds of the
consumers.

 The customers are able to get customized products from Joyalukkas.

 Most of the customers are attracted by the different promotional activities of Joyalukkas.

 Peoples are interested in the services offered to them while purchasing jewelries.

 The employees are very much satisfied in provided facilities to them.

 Regarding the quality factors most of the customers have a good opinion of provided
quality by Joyalukkas

 Maintain good customer relations and keep informed about important

changes through S M S, other medias etc to customers.
 Numbers of traders are high in the gold commodity market compare with agricultural
commodities.
 Majority of respondents agree that Communication of advertisement is good.

5.3 SUGGESTIONS

 To give some more importance to the various promotional techniques through

different medias

 Attract the customers through new designs and variety of collections.

 By introducing the trendy designs under different brands it creates a good brand
image.

56
  By giving importance to the consumers feedback

 Make the customer delighted by having a good customer relationship.

 The branding techniques should be changing according to the market trends.

5.4 LIMITATIONS OF THE STUDY

 The scope of the study restricted to only few areas.

 Subscribers may not give an accurate data.

 Busy nature of the respondents.

 Sample size limited to 50.

57
  Lack of response from customers & resistance was yet another factor that damped the spirit
of the researcher.

5.5 CONCLUSION

The survey reveals that the people are very much brand oriented when buying gold. The
company’s advertisement is directing to motivate people to buy products from it. The firm
should concentrate more on new trends and designs of products.
Brand positioning means creating an image of brand in the minds of consumers.
Joyalukkas do the same with different branding techniques. Through this study, it can be
identified that selected customers are agreed that the company treats them as the valuable
customers and they are delighted while purchasing gold from joyalukkas.The customers also

58
 prefer more exhibits of new variety products through advertisement. The presence of brand
ambassador and celebrities also greatly help in endorsing the product

5.6 SCOPE FOR FURTHER RESEARCH

The present study aimed to study the brand positioning of joyalukkas is effective among
the consumers and public. The branding is an important aspect in the development of any of the
organisation it has a greater importance in each person’s buying behaviour and lots of
opportunities are there to study the branding and positioning of the brands among the consumers

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