"Om Fancy Jewellers": Project Report ON

PROJECT REPORT
ON
OM FANCY JEWELLERS
R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College
Page 1
CHAPTER : 1
INTRODUCTION
Till the early 1990s, the average Indian bought jewellery for investment rather
than for adornment. Jewellery made of 18-karat gold was not favored as it was considered a poor
investment. Confidence in the local jeweler was the hallmark of the gold jewellery trade in India.
A jeweler or goldsmith in a local area had a fixed and loyal clientele. The buyer had implicit faith
in his jeweler. Additionally, the local jeweler catered to the local taste for traditional jewellery.
However, since the late 1990s, there was a shift in consumer tastes: women were increasingly
opting for fashionable and lightweight jewellery instead of traditional chunky jewellery. There
was a rise in demand for lightweight jewellery, especially from consumers in the 16 to 25 age
group, who regarded jewellery as an accessory and not an investment. The new millennium
witnessed a definite change in consumer preferences.
Branded jewellery also gained acceptance forcing traditional jewelers to go

in for branding. Given the opportunities the branded jewellery market offered; the number of gold
retailers in the country increased sharply. Branded players such as Tanishq, Oyzterbay, Gili and
Carbon opened outlets in various parts of the country. Traditional jewelers also began to bring out
lightweight jewellery, and some of them even launched their in-house brands. However, the share
of branded jewellery in the total jewellery market was still small (about Rs. 10 billion of the Rs.
400 billion per annum jewellery market in 2002), though growing at a pace of 20 to 30 percent
annually. The branded jewellery segment occupied only a small share of the total
jewellery market because of the mindset of the average Indian buyer who still regarded jewellery
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as an investment. Moreover, consumers trusted only their family jewelers when buying jewellery.
Consequently, the branded jewellery players tried to change the mindset of the people and woo
customers with attractive designs at affordable prices. However branded jewellery players will
continue to face lot of competition from local jewelers. In order to gain market share, they will
have to come up with designs that customers want and win the trust and confidence of consumers
by hallmarking and demonstrating the purity of the gold used by them. To compete with
traditional players, branded players must also find some way to differentiate themselves. While
the success of a particular brand will depend on differentiation, affordability and quality will be a
key element in sustaining a brand. In addition, branded players require focused advertising and
astute salesmanship to compete with traditional jewelers. Besides the major brands- Tanishq,
Carbon, Oyzterbay, Gili and Trendsmith - several regional players have opened branches to
leverage the trust and reputation that they have built up over the years.
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1.1 Establishment
Om Fancy Jewelers Project was started in October 1986, it was a occasion Dassera
because during this season sailing is more as compare to other days or season of the year. In
Indian culture, people believe to purchase any article or things during the festival season like on
the occasion Dassehra, Diwali, Bhaiduj, etc. ans almost all these occasion are In the moth of
October and November .
For the Establishment of Business we Invested nearly 7 Lakhs in aggregated this includes
building in the market, furniture fixture, various different types of products, Accessories of Gold,
Ornaments we will as it included advertisement, government taxes and license.
In this project this organization or firm is not selling the products of single company but
it includes the product that is earrings, bracelet, Ring, Bangles.
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1.2 Objective of study
The objective to study the Om Fancy Jewellery in Washim. is to find out

1) The consumers buying preferences
2) The reach of branded jewelers
3) Brand awareness of various brands in the jewelers market
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1. 3 Founders Of The Business
Mr. Dinesh Varma Is the proprietor of the business and father of proprietor Mr. Navratmal
Varma found the idea for the business, as his sun passed B.Com Examination hi thought he
should established a business for his sun. hi was in thought that as his is interested in doing
business and have more interest in business field and was more interested to a jewelry
shoppee as the need for this type in increasing day by day.
So, the idea of the business was Mr. Navratmal Varma and Mr. Dinesh
Varma is the whole and sole authority of the business as he works as the proprietor af the
business and the type of business is the sole trading concern
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1.4 Description of Problem
The scope of study is limited due to the following reasons:

1) Time constraint- since the time span for the thesis is only 12 days an in depth study and
analysis will become a little difficult.

2) Sample size- the sample size of the study is only 100 which would not give a
comprehensive result. Many important samples may not be considered at all. The
conclusion of the study may not result to an accurate outcome due to the sample size
being small.
3) Bound to only Washim city - the other limitation of the study is it is limited to only the
main city area of Nasik and ignores the samples from the smaller parts of the district. The
buying behavior of an individual varies from place to place.
4) Awareness- the sample taken and the conclusion drawn can be led to only one side if
there is lack of awareness about branded jewellery.
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1.5 Significance Of The Study
The gems and jewellery industry occupies an important position in the Indian economy and is
one of the fastest growing industries in the country.
Hence the research conducted would help me
1) Understand the consumers preference while purchasing jewellery
2) How much impact does a brand have on their purchase decision
3) Does price play an important role in guiding their purchase decision
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1.6 Justification Of The Study
The previous research done on branded and non branded jewellery markets are
1) Indian Gems and Jewellery Market - Future Prospects to 2011
2) The impact of recession on the jewellery industry
3) The growth of the Branded jewellery market in India
No study has been done to find out the preference of consumers between branded and non
branded jewelers. The study would also help to find out the consumer preference and their
buying behavior towards branded and non branded jewelers, this would help both the
retailers to know what are the consumer preference and what strategies should they adapt to
grab the market.
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CHAPTER : 2
Research Methodology
Research is initiated by examining the secondary data to gain insight into the problem. The primary data
is evaluated on the basis of the analysis of the secondary data.
2.1 DEVELOPING THE RESEARCH PLAN

The data for this research project would be collected through questionnaire. A structured questionnaire
would be framed as it is less time consuming, generates specific and to the point information, easier to
tabulate and interpret. Moreover respondents prefer to give direct answers. Both type of questions i.e.
Open ended and closed ended, would be used.
2.2 COLLECTION OF DATA

a) Secondary Data: It was collected from internal sources. The secondary data was collected from
the articles, news papers, management books, and the internet.
b) Primary data: They were the main source of Primary data. The method of collection of primary
data would be direct personal interview through a structured questionnaire.
2.3 SAMPLING PLAN

Since it is not possible to study whole population, it is necessary to obtain representative samples from
the population to understand its characteristics.
1) Sampling Units: would comprise of men and women.
2) Research Instrument: Structured Questionnaire
2.4 SAMPLE SIZE
100 respondent
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The primary data would be collected from

1) The population of Washim city
The secondary data would be collected from:
1) Books
2) Magazines/ Project report
3) Internet
4) Articles
The questionnaires response format for the population would be close ended questions. With a
mix of question types varying from ranking, multiple choice to checklist questions. The attitude
of the respondents would be measured by itemized category scales, pictorial scale.
2.5 Hypothesis
The null hypothesis would be: 50% of the consumer prefers buying branded jewellery.
The alternative hypothesis would be: More than 50% of the consumer prefers buying non
branded jewellery.
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Schedule
Activity
Duration in days
Review of Literature
9thth 10th February
Research Design
11thth February- 13nd February
Data Collection
14th January - 17th February
Data Analysis
18th February
Findings of Study
18th February
Report Writing
18th February
Submission and Evaluation
19th February
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CHAPTER : 3
Literature Review
The emergence of branded gold jewellery:
In the late 1990s, the Indian jewellery market witnessed a shift in consumer perceptions of
jewellery. Instead of being regarded as only an investment option, jewellery was being prized for
its aesthetic appeal. In other words, the focus seemed to have shifted from content to design.
Trendy, affordable and lightweight jewellery soon gained familiarity. Branded jewellery also
gained acceptance forcing traditional jewelers to go in for branding.
Given the opportunities the branded jewellery market offered; the number of gold retailers in the
country increased sharply. Branded players such as Tanishq, Oyzterbay, Gili and Carbon opened
outlets in various parts of the country. Traditional jewelers also began to bring out lightweight
jewellery, and some of them even launched their in-house brands.
However, the share of branded jewellery in the total jewellery market was still small (about Rs.
10 billion of the Rs. 400 billion per annum jewellery market in 2002), though growing at a pace
of 20 to 30 percent annually
The branded jewellery segment occupied only a small share of the total jewellery market because
of the mindset of the average Indian buyer who still regarded jewellery as an investment.
Moreover, consumers trusted only their family jewelers when buying jewellery. Consequently,
the branded jewellery players tried to change the mindset of the people and woo customers with
attractive designs at affordable prices.
Page 13
3.1 Gold Jewellery Market in India

Before the liberalization of the Indian economy in 1991, only the Minerals and Metals Trading
Corporation of India (MMTC) and the State Bank of India (SBI) were allowed to import gold.
The abolition of the Gold Control Act in 1992, allowed large export houses to import gold freely
Exporters in export processing zones were allowed to sell 10 percent of their produce in the
domestic market. In 1993, gold and diamond mining were opened up for private investors and
foreign investors were allowed to own half the equity in mining ventures. In 1997, overseas
banks and bullion suppliers were also allowed to import gold into India. These measures led to
the entry of foreign players like DeBeers, Tiffany and Cartiers into the Indian market.
In the 1990s, the number of retail jewellery outlets in India increased greatly due to the abolition
of the Gold Control Act. This led to a highly fragmented and unorganized jewellery market with
an estimated 100,000 workshops supplying over 350,000 retailers, mostly family-owned, single
shop operations. In 2001, India had the highest demand for gold in the world; 855 tons were
consumed a year, 95% of which was used for jewellery. The bulk of the jewellery purchased in
India was designed in the traditional Indian style.
Jewellery was fabricated mainly in 18, 22 and 24-carat gold. As Hallmarking was not very
common in India, under-carat age was prevalent. According to a survey done by the Bureau of
Indian Standards (BIS), most gold jewellery advertised in India as 22-carat was of a lesser
quality. Over 80% of the jewelers sold gold jewellery ranging from 13.5 carats to 18 carats as 22carat gold jewellery.
The late 1990s saw a number of branded jewellery players entering the Indian market. Titan sold
gold jewellery under the brand name Tanishq, while Gitanjali Jewels, a Mumbai-based jewellery
exporter, sold 18-carat gold jewellery under the brand name Gili. Gitanjali Jewels also started
selling 24-carat gold jewellery in association with a Thai company, Pranda. Su-Raj (India) Ltd.
launched its collection of diamond and 22 -carat gold jewellery in 1997.
The Mumbai-based group, Beautiful, which marketed the Tiffany range of products in India,
launched its own range of studded 18-carat jewellery, Dagina. Cartiers entered India in 1997 in a
franchise agreement with Ravissant. Other players who entered the Indian branded gold
jewellery market during the 1990s and 2000-01 included Intergold Gem Ltd., Oyzterbay, Carbon
and Tribhovandas Bhimji Zaveri (TBZ).
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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 18carat plain gold and diamond-studded jewellery, designed for the contemporary Indian woman.
The designs combined both the Indian and western styles and motifs. With sales of Rs.0.14
billion for the year 2000-01, Gili had a 0.03 percent share of the 400 billion jewellery market in
India and a 1.4 percent share of the branded jewellery market.
Tanishq: In 1984, Questar Investments Limited (a Tata group company) and the Tamil Nadu
Industrial Development Corporation Limited (TIDCO) jointly promoted Titan Watches Limited
(Titan). Initially involved in the watches and clocks business, Titan later ventured into the
jewellery businesses. In 1995, Titan changed its name from 'Titan Watches Ltd.' to 'Titan
Industries Ltd.' in order to change its image from that of a watch manufacturer to that of a
fashion accessories manufacturer. In the same year, it also started its jewellery division under the
Tanishq brand.
Among the branded jewellery players in the Indian market, Tanishq is considered to be a
trendsetter. When it was launched in 1995, Tanishq began with 18-carat jewellery. Realizing that
such jewellery did not sell well in the domestic market, the 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. With sales of Rs. 2.66 billion in 2000-01,
Tanishq had a 0.66 percent share of the total jewellery market and a 27 percent share of the
branded jewellery market.
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 goldbased jewellery called Carbon was launched.
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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
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.
BRANDED GOLD JEWELLERY MARKET (MAJOR PLAYERS)
Brand
Market share (2000-01) in %)
Tanishq
27.0
Oyzterbay
1.7
Gili
1.4
Carbon
1.4
Source: ICFAI Centre for Management Research.
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Gold Jewellery Becomes Fashion Accessory

Till the early 1990s, the average Indian bought jewellery for investment rather than for
adornment. Jewellery made of 18-karat gold was not favored as it was considered a poor
investment. Confidence in the local jeweler was the hallmark of the gold jewellery trade in India.
A jeweler or goldsmith in a local area had a fixed and loyal clientele. The buyer had implicit faith
in his jeweler. Additionally, the local jeweler catered to the local taste for traditional jewellery.
However, since the late 1990s, there was a shift in consumer tastes: women were increasingly
opting for fashionable and lightweight jewellery instead of traditional chunky jewellery. There
was a rise in demand for lightweight jewellery, especially from consumers in the 16 to 25 age
group, who regarded jewellery as an accessory and not an investment. The new millennium
witnessed a definite change in consumer preferences. According to Samrat Zaveri, CEO of
Trendsmith, "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."
In October 2002, Trendsmith 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 Indian market was witnessing an accelerated shift from viewing jewellery as an investment
to regarding it as aesthetically appealing ornaments. The focus had shifted from content to
design.
The younger generation was looking at trendy, contemporary jewellery and clearly avoiding
heavy, traditional gold jewellery.
The consumer wanted a wider selection at a single convenient location and expected an
international shopping experience.
The Indian consumer was willing to experiment with new designs.
The late 1990s and early 2000s, with the increase in the number of designers from design schools
such as the National Institute of Fashion Technology (NIFT), a wide range of new designs
became available. In addition, the growing number of manufacturers needed a retailing platform
with global and national reach. All these led to the proliferation of branded jewellery players.
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Strategies for Wooing Customers

Tanishq
In the late 1990s, players in the branded gold jewellery market formulated strategies for wooing
customers. According to Jacob Kurian (Kurian), Chief Operating Officer of Tanishq, the
challenges were many. As the jewellery market was highly fragmented, lacked branding, and
allowed many unethical practices to flourish, Tanishq worked hard on a two-pronged brandbuilding strategy: cultivate trust by educating customers about the unethical practices in the
business and change the perception of jewellery as a high-priced purchase. Said Kurian, "We are
changing the attitudes of customers from blind trust to informed trust."
To increase its market share, Tanishq formulated a strategy for luring people away from
traditional neighborhood jewelers. Tanishq's strategy was to create differentiation and build trust.
According to Kurian, the first part of the strategy was "to provide a point of differentiation in a
highly commoditized category - which is the whole point of branding." The second part of the
strategy was to project Tanishq as an unimpeachable mark of trust. According to Kurian, "If
differentiation plays the role of primary attraction, trust takes care of lifelong loyalty.
One way to create differentiation was through design. The emphasis had to be on design because
local jewelers could offer to design any pattern according to the customer's specifications. For a
national brand a generic design concept with regional variations had to be evolved.
For this, Tanishq set up a seven member in-house design team and also outsourced designs from
freelance designers. The designers travelled the length and breadth of the country to get feedback
on Tanishq's designs and learn about customer preferences. On the basis of this feedback, each
showroom could select the designs it would carry.
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3.2 Brand appeal

Branded jewellery has found a niche for itself in the tough Indian market, and its increasing
growth rates show that before long it will corner a significant share of the jewellery market.
WITH the retail industry in India burgeoning, several companies have made inroads into the
traditional jewellery industry, selling the product that was never really "marketed" in "brand"
new ways. So much so that branded jewellery is the new mantra in the market, having rapidly
acquired a niche over the past few years.
Some of the companies have even cleverly played on Indian customs and tradition to advertise
and establish their brands. Jewellery is now marketed for every occasion; even Valentine's Day
calls for "a special something [diamond] for a special someone".
In spite of pessimism about the marketability of branded jewellery in a country rooted in buying
ornaments from the traditional goldsmith, 30 brands were launched in 2004. However, this does
not take away from the fact that India is a tough market. According to Mehul Choksi of the
D'Damas and Gitanjali Group, branded jewellery has witnessed more than 50 per cent growth in
the last three years. The diamond branded jewellery, he says, is especially impressive with the
segment witnessing a 20 per cent rise annually as against 10 per cent a decade ago.
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Indian Customers Showing Interest in Branded Jewellery

Posted by RNCOS on October - 27 - 2009
As per our recently published research report Indian Gems and Jewellery Market Future
Prospects to 2011, gems and jewellery market in India posses tremendous potential for future
growth since it has an added advantage of low production cost and highly skilled labor that
separate it from its competitors. It is projected that the overall gems and jewellery market will
grow at a CAGR of around 14% during 2009-2012.India possesses worlds most competitive
gems and jewellery market due to its low cost of production and availability of skilled labor. As
per our new research report Indian Gems and Jewellery Market - Future Prospects to 2011,
highly skilled and low cost manpower, along with strong government support in the form of
incentives and establishment of SEZs, has been the major driver for the Indian gems and
jewellery market. The market also plays a vital role in the Indian economy as it is a leading
foreign exchange earner and accounts for more than 12% of Indias total exports. Currently the
Indian market remains highly fragmented, but is rapidly transforming into an organized
sector.Currently, the industry is facing a slowdown due to global economic turmoil. But due to
various government efforts and incentives coupled with private sector initiatives, the Indian
gems and jewellery sector is expected to grow at a CAGR of around 14% from 2009 to 2012. At
present, the Indian gems and jewellery market is dominated by the unorganized sector; however,
the trend is set to change in near future with the branded jewellery market growing at an
expected CAGR of more than 41% in the coming four years. As per our research report, with its
consumption pegged at nearly 20%, India remains worlds largest gold consumer and this share
is expected to grow further. Given the fact that majority of market share is occupied by familyowned jewelers, the domination of unorganized segment still continues on the Indian gems and
jewellery market. However, this scenario is gradually changing with the entrance of organized
players who primarily focus on customer satisfaction by giving better and finer quality products.
Thus, consumers are now moving towards branded jewellery which is more reliable in terms of
quality and design. With changing customers attitude towards branded jewellery and entrance
of organized players in the market, this segment will grow at much faster pace (annual growth of
more than 40%) than the overall jewellery market in coming years, said a Research Analyst at
RNCOS. The future outlook given in the report is based on past growth trends, current industry
and regulatory developments besides base drivers, opportunities and challenges faced by the
gems and jewellery industry in India. Source: http://www.rncos.com/Report/IM148.htm
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3. 4 Traditional v/s Branded jewelers

Introduction
Gems and Jewellery sales and marketing received a facelift with the advent of the supermarket
culture. As organized retail in India progresses to the next lap, Sadanand Subramanian checks for
Diamond World with some precious Industry players about their preparedness and strategy to
achieve maximum mileage.
As India reacts to a retail revolution, the hitherto sober gems and jewellery industry seems to
have jumped on the bandwagon with a clear plan of action. The industry has already made a
mark by capturing 3 per cent of the organized retail space thanks to the leadership shown by a
handful of companies prepared to dazzle the world. While organized retail under this segment
impressively grows at over 50 per cent annually, deliberations are on to arrive at what the
industry in general must do to keep the customer perennially delighted. The gems and jewellery
market in India is estimated to be about Rs.80,000 crores and the topmost agenda is to adopt the
right strategy to accelerate its growth keeping in mind current global dynamics. For now the
industry faces keen competition from other luxury goods such as electronic innovations and
other personal accessories. How far is it necessary for the gems and jewellery sector to seriously
consider it?
There is no doubt that things are a lot more organized in stores inside malls. They also showcase
and present products very attractively. But in my opinion, real sales take place through traditional
jewellery stores as jewellery is mainly sold on trust. Ghanshyam Dholakia
The urgency in the industry indicates rapid changes in the way goods are produced and
marketed. The evolution of new formats for sale and the massive technology and to some extent,
sizeable infrastructural developments taking place all foretell a prospect of growth way beyond
the current overall 10 per cent.
The Indian gems and jewellery industry boasts a strength of over 3 lakh jewellery retailers across
the length and breadth of this country. The huge number indicates strength in itself but it also
indicates a difficult diversity to grapple with when exploring common grounds to formulate
united approaches to tackle common concerns.
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3. 5 Organized V/s Traditional Retail:

Comparisons have always been drawn between organized retail and traditional retail. Attempts
have always been made to define them. Rooting for organized retail, Navneet Goenka, ViceChairman of Goenka Diamond and Jewels says, Right now organized retail seems to have
wrested an edge over traditional retail. Goenka argues that the indications to this effect are seen
in the manner large proportions of the society are becoming lifestyle oriented, especially the
younger generation. When considering Indias statistic of having the highest percentage of youth
in the world, this observation cannot be taken lightly. Goenka says that the gems and jewellery
sector is one of the fastest growing segments. He adds, The young generation today has more
disposable income and they are willing to spend it on luxuries of choice.
Ghanshyam Dholakia, partner, Harikrisha Exports holds a different view with regard to the tussle
for supremacy over the two formats. There is no doubt that things are a lot more organized in
stores inside malls, he concedes. They also showcase and present products very attractively.
But in my opinion, real sales take place through traditional jewellery stores as jewellery is
mainly sold on trust. While explaining his point of view, he adds, To the credit of traditional
jewellery stores they also have upgraded themselves in various ways including the overall
ambience in the last five to ten years. They are also changing themselves in the matters of
presentation and the customer approach. Dholakia says that in promotions and awareness
creation, traditional retailers have realized its importance thereof and have started allocating
sizeable budgets for them. Consequently this section has already started reaping the benefits of
quality promotions by creating awareness about their products and services. Dholakia is some
what emphatic with regard to modern day organized retail citadels, In my personal opinion
malls mainly serve the purpose of promotion and show of products. I dont think a lot of gems
and jewellery sale takes place in malls.
Ashwin Shah, Head of Retail at C. Mahendra Exports holds a similar view with regard to
jewellery sales at modern shopping malls. He opines, The sales that take place in a mall are of a
very different kind. You can call it window shopping if you like. Shah elucidates his point, The
young generation often resorts to some impulse buying. He stresses that serious buyers who are
looking for high value purchases for occasions such as weddings prefer to plan their jewellery
shopping and eventually purchase from known reputed jewelers.
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Changes in Gems & Jewellery Retail:

Whilst organized retailers are ahead when it comes to taking care of the different aspects in the
marketing and sales value chain, those in traditional retail are also changing or adapting to the
needs of the modern customer in the areas of service and customer care. They too are improving
their style of presenting and dealing with customers. In the past, jewelers didnt have much
modern education. Today, there are a number of MBAs in these families and amongst key
personnel employed by them, points out Ghanshyam Dholakia.
Retailing the Organized Way:
While complementing the planned approach by organized retail, Mahesh Gandani-Head Retail,
Hari Krishna Exports says, We can see that times have changed and somewhere along the way,
the whole approach to marketing has also undergone transformation. Gandani says that for
branded diamond jewellery there is much planning involved. He says meticulous strategy is
charted out, and there is systematic presentation of the product. All this goes on even as a
product portfolio is made and promotions are carried out. Gandani says creating brand awareness
in the minds of the consumers is all about adopting a few strategic steps. One might say the
difference between traditional and organized is just doing and doing by planning.
Recent developments have been both a boon as well as a bane. Actually, this has spurred us on to
become innovative with our offerings to suit the market. We have actually managed to reduce
cost by adopting the strategy of reducing the volume of gold in some of our products to make it
affordable. Ashwin Shah
Speaking about organized retail, V. Muraleedharan, gems and jewellery professional and visiting
faculty at well known management institutes in Mumbai says, The number of foreign brands
coming into India is simply amazing. Brands that were only heard of a few years ago are today
very much within anyones reach here. Muraleedharan goes on to explain, So far people who
had only seen traditional offerings have started making intelligent international comparisons with
Indian products and this has brought about real room for retail to grow a number of times.
Well known brands have always insisted that when they talk about a particular grade, they are
certified. Moreover the quality standard is confirmed and authorized and remains the same in any
laboratory in the world. Muraleedharan says, In my opinion the quality a brand expresses, and
the certification make it easy for a customer to confidently buy the product.
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The Value Proposition:

Today everyone is looking for value for money, a new design, a new concept, something very
creative and that is the concept of retail today. It is not like yesterday where the shopkeeper or
the manufacturer used to dominate. Today, the customer is going for customized designs; the
whole concept is changing, says Muralidharan. The consumer is looking for value for money,
when they buy diamonds. They like to buy from reputed players like example Tanishq, Gitanjali,
Goenka, Nakshatra, Kiah and Nirvana. All of whom have achieved very organized presence in
the market today. Each one of them has a standard quality certification internationally and that is
what is going in the minds of the customer when they talk about buying from the organized
sector.
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CHAPTER : 4
A STUDY ON THE JEWELLERY INDUSTRY
4.1 INTRODUCTION TO INDIAN JEWELLERY INDUSTRY
India is a leading player in the global gems and jewellery market. The gems and jewellery
industry occupies an important position in the Indian economy. It is a leading foreign exchange
earner, as well as one of the fastest growing industries in the country.
The two major segments of the sector in India are gold jewellery and diamonds. Gold jewellery
forms around 80 per cent of the Indian jewellery market, with the balance comprising fabricated
studded jewellery that includes diamond studded as well as gemstone studded jewellery.
The Indian gems and jewellery industry is competitive in the world market due to its low cost of
production and the availability of skilled labor. In addition, the industry has set up a worldwide
distribution network, of more than 3,000 offices for the promotion and marketing of Indian
diamonds.
YESTERDAY
TODAY
Unbranded
Branded
Silver & Gold jewellery
Gold & Diamond jewellery
Investment
Investment + Fashion
Traditional design
Fashionable & innovative design
Marriage & festival is peak Wear ability and gifts

season
Page 25
4.2 Michael Porters Five Force Model for Jewellery Industry

INDUSTRY
COMPETITORS
POTENTIAL
NEW ENTRY
SUPPLI
ER
BUYE
RS
SUBSTITUTE
RIVARY
S
AMONG
EXISTING
Inter-Firm Rivalry -HIGH
FIRMS
Two types of rivalry. (1) Inside India & (2) Outside India.
Large presence of unorganized sector. 0.2 Million Gold jewelers and over 8,000 Diamond
jewelers
International rivals Such as, China
Threat from producing nation like S.A. & Russia.
Bargaining Power of Suppliers - Medium
In jewellery industry the suppliers are S.A., UAE, Australia, US, Congo, Botswana,
Russia, DTC.
Few Alternatives of cutting & polishing.
Skilled labor
Bargaining power of India is enhanced because India is largest consumer of gold

jewellery.
Page 26
Bargaining Power of Buyers - Low
Divided in two types
1. Domestic buyers &
2. Foreign buyers
As investment (Demand increase)
Bargaining power of Indian exporter is high because Majority of the world's rough
diamond production is cut and polished in India.
Threat of Substitutes:
Low
Substitutes are Real assets, Stock market, & Bank deposits & mutual fund investment and
Other types of jewellery like imitation jewellery, bagasra jewellery, stone jewellery etc.
Second preferred investment behind bank deposits
Status and standard of living increase so demand is increasing at high rate.
Barriers to entry
Low to Medium
Low capital requirement
Government subsidy
EXIM policy & governments rules-regulations are high
Skilled manpower is essential
Advanced technology required
Page 27
Page 28
SOURCE OF
ROSY
GITANJAL
DIFFERENC
BLUE
TANISHQ
SALES
JOY
RELIANCE
ALUKKA
JEWELS
7200
4832
3520
3350
800
TARGET
Upper
Middle
Upper
Middle
Middle
CUSTOMER
Middle
&above
middle
&above
&above
TURNOVER
(in Crores)
&above
MARKETING
STRATEGY
Events
&above
Advertisi
Custome
Theme
Press
ng
based
releases
Schemes
advertisi
ng
Source: http://www.scribd.com/doc/19901085/Jewellery-Companies-Comparison
Page 29
4.3 TRENDS IN JEWELLERY

REPORT
Submitted By
(KAMALAKKANNAN G KARTHIKA DEPARTMENT OF MANAGEMENT STUDIES
SCHOOL OF MANAGEMENT PONDICHERRY UNIVERSITY)
Jewellery Industry
INDUSTRY OVERVIEW
Indian Jewellery market in 2007 was valued at 70,000 cr. INR (Business Standard).
Indias Jewellery market size is US$ 13 billion
Gold Jewellery market CAGR 10 -15%
Diamond Jewellery market growth 27%
India remains in worlds largest consumer of gold.
Exports about $ 17 Million in 2006
Share of India's Gem and Jewellery Sector
Organized Retailer
Family Jewelers
4%
96%
Page 30
About, 96% of Indian Jewellery Market is unorganized. The unorganized sector represents
300,000 traditional retailers or Family jewelers who are present only in one town. The
organized sector accounts to only 4 percent
TODAY
The industry of jewellery has flourished in the past few years due to the increased demand of
fashionable jewellery. The export and import of jewellery has also amplified. People nowadays
have a passion for jewellery which accounts for the growth of this industry all over the world.
Jewellery is used for fashion as well as decoration. In the past jewellery was used to adorn bible
monuments and other decorations were made using different pieces of valuable jewels. A wide
variety of jewellery is available; costume jewellery, fashion jewellery, body jewellery, antique
jewellery, traditional jewellery, modern jewellery and many more.
LATEST TRENDS
a) Recent fluctuations in the stock market, reduced Interest rates made investment attractive on
jewellery.
b) The gems and jewellery industry occupies an important position in the Indian economy.
c) It is a leading foreign exchange earner, as well as one of the fastest growing industries in the
country.
d) The Indian gems and jewellery industry is competitive in the world market due to its low cost
of production and the availability of skilled labor.
e) The industry has set up a worldwide distribution network, of more than 3,000 offices for the
promotion and marketing of Indian diamonds.
f) India is the diamond polishing capital of the world specially the states of Gujarat and
Maharashtra.
g) 100% FDI is permitted in gems and jewellery sector.
h) The growth of Branded Jewellery is eminent in the coming days.
Page 31
Till now, Indian households in villages used to buy gold from their nearby jeweler who used to
be an acquaintance also in most circumstances because the shop owners used to know almost
everybody in the village. But, things are changing fast in India with the onset of reforms. Now,
Indians, the biggest buyers of yellow metal in the world, are increasingly aware of the quality of
gold
and
they
now
started
looking
for
the
branded
jewellery.
This change in trend in Indias urban and rural areas has lured several big names in global
jewellery trade like Cartier to India. Branded gold, diamond and silver jewellery showrooms are
opening up across Indian cities and village towns.
Till now, Indians used to buy gold from the traditional jewellery shop owner whom they trust.
But, with GenNext Indians having enough disposable income want a change from that and they
are opting for brightly lit showrooms with marble floors, glass display cases and professional
salespeople, preferably at a company whose brand name implies social status and wealth.
Tatas Tanishq opened their first outlet in 1994 and now has 117 showrooms across the country.
Avenue Montaigne, Indias largest branded jewellery retail outlet, suggests the shift towards
brands reflects social changes, but also new ways of viewing gold. In India, the precious metal is
traditionally given to brides at the time of marriage as a store of wealth providing financial
security.
Some of the most famous companies in Western jewellery such as DeBeers, Tiffany and Cartier
have also moved into India since 1997 when overseas banks and bullion suppliers were allowed
to import gold. They are drawn by the enormous size of the market, rising incomes and the
fracturing relationship between buyers and traditional family jewelers. About 15,000 tones of
gold are privately held in India. Demand remains strong despite new records being set for the
price of the metal on an almost daily basis.
Premium international brand Cartier launched their plush showroom in New Delhi in 2008 and
also operates through a strong dealer network to sell their jewellery and watches in India.
Share of branded jewellery in Indias total market was growing at a pace of 20-30 per cent
annually.
Page 32
The number of gold retailers in the country has increased by 40 per cent since the year 2000,
with 150 domestic and over 65 international established brands. Reliance has opened 14
jewellery stores in 13 Indian cities since 2007 and has announced that it will launch showrooms
in various other cities and towns across the country.
Indians opting for branded gold jewellery
Posted on Sunday, December 20, 2009
NEW DELHI: Indians, the world's biggest buyers of gold, are increasingly opting for branded
jewellery, attracting franchisers and foreign groups like Cartier at the expense of traditional
retailers.
Traditionally, most Indians would go to their small family jewelers and sit down on cotton
mattresses with the jeweler and pick out some items.
The process worked on trust built up in some cases over generations between buyer and jeweler,
who would mostly offer products from artisanal designers and producers from his area.
Nowadays, young Indians are opting for brightly lit showrooms with marble floors, glass display
cases and professional salespeople - preferably at a company whose brand name implies social
status and wealth.
"There is a tectonic shift in the business now. If you want your gold jewellery business to survive
- brand it and advertise," said Sandeep Kulhali, vice-president of Tanishq, one of India's oldest
branded retail jewellery chains, owned by the Tata conglomerate.
Tanishq opened first outlet in 1994 and now has 117 showrooms across the country.
"Earlier it was difficult to convince consumers to buy branded gold," said Kulhali.
"These days they come to us expecting better services, premium quality, exchange policy and
attractive offers - like buying jewellery on a monthly installment basis," he added.
Amit Bumb, director of Avenue Montaigne, India's largest branded jewellery retail outlet,
suggests the shift towards brands reflects social changes, but also new ways of viewing gold.
The precious metal is traditionally given to brides at the time of marriage as a store of wealth
providing financial security.
Page 33
"There is a shift in consumer tastes: working women in the 20 to 32 age group regard jewellery
as an accessory and not just as an investment," Bumb said. "It is in this market that the brand
names work."
Some of the most famous companies in Western jewellery such as DeBeers, Tiffany and Cartier
have also moved into India since 1997 when overseas banks and bullion suppliers were allowed
to import gold.
They are drawn by the enormous size of the market, rising incomes and the fracturing
relationship between buyers and traditional family jewelers.
According to the International Monetary Fund, about 15,000 tones of gold are privately held in
India. Demand remains strong despite new records being set for the price of the metal on an
almost daily basis.
Premium international brand Cartier launched its plush showroom in New Delhi last year and
also operates through a strong dealer network to sell jewellery and watches in India.
"We are happy with the response from buyers in India," said a saleswoman at the Cartier store in
Delhi, who said customers were drawn to the fact the high-end brand stood out from its Indian
competitors.
A study released by the Bullion Association of India in March said that the share of branded
jewellery in the total market was growing at a pace of 20-30 per cent annually. The number of
gold retailers in the country has increased by 40pc since 2000, with 150 domestic and over 65
international established brands, the study said.
Faced with the changing dynamics, traditional jewelers are looking to jump on the "brand
wagon" by investing in advertising and trying to build a presence in the minds of consumers.
Traditional jewelers like Notandas & Sons in Mumbai and P C Jewelers in New Delhi have
signed up Bollywood heroines as brand ambassadors and also lend their products to contestants
in beauty pageants.
Page 34
CHAPTER : 5
Analysis of Literature Review
To draw a conclusion from the above literature review one can observe that there is immense
scope for the growth of branded jewellery.
In spite of the economic slowdown experts believe that it will grow at a CAGR of 25%.
There are also statements like the industry does not cover the entire population making a
scope for further growth.
The review also brings light to the fact that the Indian consumers are price sensitive and
hence the branded jewelers cannot charge exuberant prices for the same.
The jewelers have to offer designs that are more Indian in their culture rather than aping
the west this can be proved by the e.g. of Tanishq and should also be affordable.
Since the thesis focuses on a comparative study of the popularity of branded v/s non
branded jewellery the review helps understand the growth of the retail industry which
have leased branded jewellery stores and also the popularity of traditional goldsmith
The number of foreign entrants also pose a challenge to the traditional jewelers and hence
we can see that these jewelers also come up with strategies to retain their customers these
practices were not prevalent in the market previously.
The branded jewelers on the other hand have to adapt strategies to win the trust of their
customers and attract new customers.
A few research reports also help us gauge the changing trends in the jewellery market and
the popularity of diamonds.
Page 35
5.1 Analysis and Findings

The objectives of the study was to understand the consumers buying preferences, the reach of
branded jewelers, brand awareness of various brands in the jewelers market.
Hence the first question was to find out the factors that guide a customer while purchasing
jewellery which dealt with nine attributes. The respondents where just asked to tick on the
attribute that guided that purchase decision. The result is as follows
Design
Price
Purity
Image
Variety
Display
Promotion
and Offers
Service
Family
and
Friends
85
92
87
65
67
10
12
Table 1
From the above results an observation can be drawn that out of the 100 respondents 92 of them
feel that price is a major factor that guides their purchase decision. Apart from price purity also is
considered important by 87 respondents, followed by design with 85 respondents feel it is an
important factor. Variety and image are the other important attributes that are considered while
making a purchase decision. Attributes like family and friends, promotions and offers are still not
very popular among the respondents selected for this research. The attributes like service and
display have been selected only by 2 and 5 respondents respectively showing that these are the
least important thing that guide an individual to purchase jewellery.
The diagram below shows the guiding factor of the respondents while purchasing jewellery in an
ascending manner.
5. 2 Graphical Representation
Page 36
Page 37
Figure 1
Question two dealt with the awareness of various brands of jewellery available in the market.
This question would help find out the percentage of the respondents who are aware about
branded jewellery.
Yes
100
No
0
Table 2
From the above result it can be observed that there is 100% awareness about branded jewellery.
Out of the 100 respondents there is not a single respondent who is not aware about branded
jewellery.
Page 38
The third question was to find out the popularity of 5 brands. The respondents were asked to tick
against the brands that they are aware about. The 5 brands considered here are Gili, Tanishq,
Ddamas, Oyzterbay, and Trendsmith. These are the prominent brands for gold jewellery there are
many other players but the research is limited to gold jewellery.
Brands
Gili
Tanishq
Takle
Bafna
No of
Respondents
70
80
100
100
Table 3
Figure 2
From the above table and figure inference can be drawn that brands like Gili, Tanishq are known
but the traditional Nasik outlets of Takle and Bafna our preferred
Page 39
The fourth question was to find out the reason why the respondent purchases jewellery that is the
reason for purchasing. Is it purchased as an investment option or on occasions, festivals or as a
fashion statement?
Investment Fashion Occasions Festivals
No of
Respondents
34
39
11
16
Table 4
34 respondents buy jewellery for investment purpose, 39 respondents look out for fashion or the
latest trends while purchasing jewellery. 11 respondents buy jewellery during occasions like
weddings, anniversary, birthdays etc. and 16 respondents buy jewellery during festivals.
Figure 3
Page 40
The fifth question is a direct question which inquires the respondent preference for jewellery that
is it branded or family jeweler.
Preference
No of
Respondents
Branded Family
Jewellery Jeweler
69
31
Table 5
From the above table it can be observed that 69 respondents prefer branded jewellery and 31
respondents prefer family jewelers. This makes branded jewellery more popular among the
respondents.
Figure 4
Page 41
The sixth question further probes into finding out how many among the respondents have bought
branded jewellery.
Branded
Jewellery
Bought
Not
bought
No of
Respondents
78
22
Table 6
Figure 5
Out of the 100 respondents 78 have bought branded jewellery and 22 have not bought branded
jewellery. However even if these 22 respondents have not bought branded jewellery they are
aware of branded jewellery being sold and also know the brands by their names.
Page 42
Since the sample consist of females and males the next set of question deals with whether
jewellery is bought for gifting purpose
If the respondents do buy jewellery for gifting purpose then where is it bought from family
jeweler or branded shops.
Buy jewellery
for gifting
Yes
No
No of
Respondents
30
70
Table 7
30 respondents of the 100 buy jewellery for gifting purpose among these 30 12 are men. 70% of
the respondents do not buy jewellery for gifting purpose.
The next question was the jewellery purchased for gifting is branded or non branded and the
result found are as under
No of
Respondents
Branded
Family
jeweler
14
16
Table 8
14 respondents out of 30 buy branded jewellery for gifting and 16 out of 30 buy jewellery from
their family jeweler for gifting. Percentage wise 46% buy branded jewellery for gifts and 54%
buy jewellery for gifting from their family jeweler.
Figure 6
Page 43
The ninth question was

Given below are few characteristics of traditional family jewelers (or local jewellery
retail stores). Please give each characteristic some points based on your assessment, such
that the points range from 1 to 10. (1 being the lowest and 10 being the highest).
Characteristics of Family Jewelers
Number of points
Convenient
Trustworthy
Good Investment
Price
Traditional design
This question will help gain an insight as to which parameter of a family jeweler attracts
respondent towards them.
Since the points are given out of 10 and there are 100 respondents each parameter will be out of
1000.
Characteristics of
Family Jewelers
Convenient
Trustworthy
Good
Investment
Price
Traditional
design
Number of points
660
895
775
870
745
Table 9
The respondents were asked to give points on a scale of 1 to 10 where 10 was the highest hence
the total figures are arrived by adding the points given by all the 100 respondents. Hence if the
convenience characteristic was to be taken then it scored 660 out of the grand total of 1000.
The respondents have rated trust aspect of family jewelers high hence it has scored 895. The
respondents also feel that the price charged by the family jewelers is reasonable and hence have
given it decent points i.e. 870. While purchasing jewellery from family jewelers the respondents
consider it to be a good investment. Family jewelers are popular for traditional designs and the
respondents have given it points that add up to 745.
Page 44
The 10th question was

If you purchase branded jewellery then given below are a few characteristics. Please give
each characteristic some points based on your assessment, such that the points range from
1 to 10. (1 being the lowest and 10 being the highest).
Characteristics of branded jewellery
Number of points
Wide range of products under one roof

Shopping experience
Trendy and fashionable jewellery
Price
Since the points are out of 10 and the no of respondents who have bought branded jewellery are
78. Hence the assessment of this question is based on the points given only by these 78
respondents. Hence the total would be 780 and not 1000 here.
Characteristics of
branded jewellery
Wide range
of products
under one
roof
Shopping
experience
Trendy and
fashionable
jewellery
Price
Number of points
663
590
727
673
Table 10
Respondents rate trendy and fashionable jewellery highest when it comes to branded jewellery. It
scores 727 out of 780. Price also according to the respondents is justified hence it scores 673.
Shopping experience wise branded showroom scores least among the other characteristics. This
could also be because when a customer goes to buy jewellery he may not be looking for the
experience but wanting good trendy jewellery which is priced appropriately.
Page 45
The eleventh question was to find the level of satisfaction on a scale of 1 to 10 for family
jewelers. Since the points are given out of 10 and there are 100 respondents the level of
satisfaction will be out of 1000.
Family jeweler
Level of
satisfaction
No of respondents
765
Table 11
The level of satisfaction that the respondents have is 765. Hence if the average were to be
removed it would be between 7 and 8.
The last question was to find the level of satisfaction for branded jewellery on a scale of 1 to 10.
Here again the rating is out of 780 because only those respondents who have bought branded
jewellery are being considered.
Branded
jewellery
Level of
satisfaction
No of
respondents
693
Table 12
The level of satisfaction on the whole for branded jewellery is 693 and if the mean were to be
removed then it would be between 8 and 9 hence the level of satisfaction that the respondents
have towards branded jewellery is higher then that towards family jewelers.
Page 46
5.3 Hypothesis
Sign test
Out of the total 100 respondents 69 prefer branded jewellery over non branded jewellery and 3
prefer non branded jewellery over branded jewellery. Making it 69% who prefer branded and
31% who prefer non branded or family jewelers.
Step 1
Setting up the hypothesis
Null hypothesis: Ho: P = O.5 (50 % prefer branded jewellery)
Alternate hypothesis: H1: P 0.5 (More than 50 % prefer branded jewellery)
Where, P respondents who prefer branded jewellery

No. of (+) sign = 69
And Q is respondents who do not prefer branded jewellery
No. of (-) sign = 31
Step 2
1) Calculation of P (+) & q (-):
No. of respondents who prefer branded jewellery =P (+) = 69/100 = 0.69
No. respondents who do not prefer branded jewellery =q (-) = 31/100 = 0.31
Step 3
1) Standard deviation= p = pq/n
= 0.5 * 0.5/100
= 0.0025 = 0.05
z = p 0.5/ p = 0.69 - 0.5/0.05 = 3.8
Page 47
Significance level () = 5%
From the above diagram, it is seen that the null hypothesis is rejected because
The z value (3.8) lays outside the acceptance region i.e. +1.64, hence the null hypothesis that
states that 50% of respondents prefer branded jewellery is rejected and the alternate hypothesis
which states that more than 50% respondents prefer branded jewellery is accepted.
Page 48
5.4 Limitations
The limitations faced during the research and after the data collection were
1) Time constraint- since the time span for the thesis was only three months an in depth
study and analysis became a little difficult.

2) Sample size- the sample size of the study is only 100 which do not give a comprehensive
result. The conclusion of the study may not have resulted to an accurate outcome due to
the sample size being small.
3) Bound to only Nasik city - the other limitation of the study is it is limited to only the
main city area of Nasik and ignores the samples from the smaller parts of the district. The
buying behavior of an individual varies from place to place.
4) Questions left blank- certain question have been left blank which does not allow an
accurate analysis.
5) Biasness- among the 100 respondents few of them were brand loyal and few of them
were the ones who had still stuck to their traditional jewelers hence to an extent there was
biasness involved in the study.
Page 49
Major Findings
During this project major findings are that the scop of jewelry are incrasing day by day and the
firm is working as per the needs and requirement of the customers or way can say as per the
needs of two days completive market
In to days world, it is necessary to expand the scope of business that is the unit should not
work to the particular area bus the should expand the scope of business the wider area.
Therefore this unit not limited only to the local area but spread its business In the washim
district .
All the customers of the firm also satisfied with the working of the organization as the
faculties and services as per the need of customers.
As in this scenario the work carried out by the organization is upto market and there for
the major finding were.
1.
Use of Gold Ornament increasing
2.
Fashionable Jewelry want to the customers.
Conclusion
Page 50
The conclusions that can be drawn from the study are:

1. The guiding factor behind purchasing jewellery is price, purity and design which score
the maximum. Other factors are variety, the brand image, influence of family and friends.
The least guiding factor for purchasing jewellery is the service and display. Hence when a
customer goes to buy jewellery they do keep the price in mind followed by the purity and
the design. Factors like service given the shop or by the jeweler and the display do not
have a very big impact on the customers.
2. Branded jewellery is extremely popular since it has 100% awareness. This may be due to
the wide spread publicity taken up by the various brands. Brands like Gili, Ddamas, and
Tanishq are again the most popular brands. Trendsmith is a brand by Tribhovandas
Bhimji Zaveri (TBZ) which is not very popular.
3. As stated in the literature review that there was a shift in consumer tastes: women were
increasingly opting for fashionable and lightweight jewellery instead of traditional
chunky jewellery. Is proved to be correct by this research as respondents have selected
fashion over investment while purchasing jewellery. Now jewellery is regarded as more
of an accessory and less of an investment.
4. Branded jewellery is bought by more than 3/4 th of the population. Hence it can be said
that the population is aware and has also tried these brands.
5. When jewellery is bought for gifting purpose the population still wants to buy it from
their family jewelers.
6. When it comes to family jewelers the level of satisfaction that the population has on a
scale of 1 to 10 is a little more than 7. These jewelers are also popular because of the trust
that they have with their customers and also because they charge reasonable prices. These
family jewelers are also popular for traditional designs hence when a customer is
specifically looking out for traditional jewellery they approach these jewelers. The
jewellery bought from these jewelers is considered to be pure and a good investment.
7. The level of satisfaction that the population has towards branded jewellery is a little
higher than 8. These branded jewelers have become popular for latest and trendy
jewellery. Also the prices that the branded jewelers charge is justified and they provide a
wide range of products under one roof.
8. The level of satisfaction that the population has for branded jewellery is higher then that
for non branded jewellery making branded jewellery more popular.
9. The consumers prefer buying branded jewellery over non branded jewellery. This has
also been proved by using the sign test.
Hence to conclude branded jewellery is preferred over non branded jewellery.
Questionnaire
1.
When was the firm established ?
2.
Who is the Proprietor of firm ?
3.
Who was the founder of the business ?
Page 51
4.
Which type of Jewelry are sold there ?
5.
Background and Method sales and purchase of Business ?
6.
Sources of Business income ?
7.
Basis of Selection of the workers ?
8.
What is the structure of Management ?
9.
Regarding the Financial Position of Business ?
BILBLIOGRAPHY
1.
Visit to Om Fancy Jewelers
2.
Meeting with proprietor of Business
Page 52
3.
Discussion With Staff Members
4.
Discussion With Customers
5.
Visit to advocate for Accounting Details.
Page 53

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PROJECT REPORT

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

Branded jewellery also gained acceptance forcing traditional jewelers to go

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

1.2 Objective of study

The objective to study the Om Fancy Jewellery in Washim. is to find out

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

1. 3 Founders Of The Business

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

1.4 Description of Problem

The scope of study is limited due to the following reasons:

analysis will become a little difficult.

there is lack of awareness about branded jewellery.

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

1.5 Significance Of The Study

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

1.6 Justification Of The Study

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

2.1 DEVELOPING THE RESEARCH PLAN

2.2 COLLECTION OF DATA

2.3 SAMPLING PLAN

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

The primary data would be collected from

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

9thth 10th February

11thth February- 13nd February

14th January - 17th February

Submission and Evaluation

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

3.1 Gold Jewellery Market in India

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

Market share (2000-01) in %)

Source: ICFAI Centre for Management Research.

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Gold Jewellery Becomes Fashion Accessory

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Strategies for Wooing Customers

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3.2 Brand appeal

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Indian Customers Showing Interest in Branded Jewellery

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3. 4 Traditional v/s Branded jewelers

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3. 5 Organized V/s Traditional Retail:

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Changes in Gems & Jewellery Retail:

The Value Proposition:

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Silver & Gold jewellery

Gold & Diamond jewellery

Fashionable & innovative design

Marriage & festival is peak Wear ability and gifts

R. A. Arts Shri. M.K. Commerce, Shri S.R. Rathi Science College

4.2 Michael Porters Five Force Model for Jewellery Industry

International rivals Such as, China

Threat from producing nation like S.A. & Russia.

Bargaining Power of Suppliers - Medium

Few Alternatives of cutting & polishing.

Bargaining power of India is enhanced because India is largest consumer of gold