A STUDY ON PRICING

BY
G. PAVAN KUMAR
C1712048

Submitted to
VIJAYANAGARA SRI KRISHNA DEVARAYA UNIVERSITY, BALLARI
In practical fulfilment of the requirements for the award of the degree of
BACHELOR OF COMMERCE

Under the guidance of

PROJECT GUIDE
ASST.PROFESSOR. U.K.NEHA

BALLARI BUSINESS COLLEGE

WARD NO 35, GANESH NAGAR, OPP, KSRTC BUS DEPOT, SIRUGUPPA ROAD
BALLARY, 583103
 DECLARATION

I, the undersigned, hereby declare that the project report entitled “PRICING“ written and
submitted by me to Vijayanagar Sri Krishnadevaraya University, Ballari in partial fulfilment of
requirements for the Award of Degree of Bachelor of Arts/ commerce/Science under the
guidance of Mrs. U.K.NEHA is my original work and the conclusion drawn therein are based on
the data information collected by me.

PLACE: BALLARI Signature

DATE: G. PAVAN KUMAR
C1712048
 CERTIFICATE

This is to certify that the Project Report entitled “PRICING” which is being submitted here with
for the award of the degree of Bachelor of Commerce of Vijayanagar Sri Krishnadevaraya
University, Ballari and is the result of the original research work completed by Mr. G. PAVAN
KUMAR bearing Reg. No C1712048, under my supervision and guidance and to the best of my
knowledge and belief the work embodied in this Project Report has not formed earlier the basis
for the award of any degree or similar title of this or any other University or examining body.

Signature of the Research Guide

Signature of the head of the Department

Signature of the Principal

ACKNOWLEDGEMENT

I express my sincere thanks to Dr. YASHVANTHBHUPAL, Director, BBC, Ballari who has
given me the support to do this project and I express my sincere thanks to prof. PRITHVIRAJ Y. J,
Chairman , BBC, Ballari, who has given me the opportunity to do this project.

PRICING IN RAGHAVENDRA JEWELLERS, GUNTAKAL for giving this opportunity to undertake the
project work in their esteemed organization, and guiding me the with his valuable advice,
worthwhile discussion, technical ideas, and important suggestions throughout the project.

I express my sincere gratitude to Mr. UDAY KUMAR, head of the Dep., of BBC for his kind
support and encouragement throughout the project.

I express my sincere gratitude to Ass. prof. U.K.NEHA, internal guide, BBC For her kind support
and encouragement throughout the project.
TABLE OF CONTENTS

CHAPTERS INDEX PAGE NO

CHAPTER 1 1. Introduction to the topic
2. Statement of the problem
3. Objectives of the study
4. Need for the study
5. Scope of the study
6. Limitations

CHAPTER 2 7. Company profile

8. Theoretical background

CHAPTER 3 9. Research methodology

CHAPTER 4 10. Dataanalysis and interpretation

CHAPTER 5 11. 1.Finding

12. 2.suggestions
13. 3.Conclusion
14. 4.Bibilography
CHAPTER-1
INTODUCTION:
Pricing is the process whereby a business sets the price at which it will sell its products and
services, and may be part of the business's marketing plan. In setting prices, the business will
take into account the price at which it could acquire the goods, the manufacturing cost, the
marketplace, competition, market condition, brand, and quality of product.
Pricing is a fundamental aspect of financial modeling and is one of the four Ps of the marketing
mix, the other three aspects being product, promotion, and place. Price is the only revenue
generating element amongst the four Ps, the rest being cost centers. However, the other Ps of
marketing will contribute to decreasing price elasticity and so enable price increases to drive
greater revenue and profits.

Pricing can be a manual or automatic process of applying prices to purchase and sales orders,
based on factors such as: a fixed amount, quantity break, promotion or sales campaign, specific
vendor quote, price prevailing on entry, shipment or invoice date, combination of multiple
orders or lines, and many others. Automated pricing systems require more setup and
maintenance but may prevent pricing errors. The needs of the consumer can be converted into
demand only if the consumer has the willingness and capacity to buy the product. Thus, pricing
is the most important concept in the field of marketing, it is used as a tactical decision in
response to changing competitive, market and organizational situations.
The price is the amount customers pay for a product. The cost is the amount spent by a
business making the product. However, as we see later, a firm needs to take account of the cost
of production when setting price to ensure that it is making a profit on the products it
offers.Pricing also has to be consistent with the other elements of the marketing mix, since it
contributes to the perception of a product or service by customers.

Setting a price that is too high or too low will - at best - limit the business growth. At worst, it
could cause serious problems for sales and cash flow.

So pricing is important, but it is really tough to get right. There are so many factors to consider,
and much uncertainty about whether a price change will have the desired effect.
Price is a major parameter that affects company revenue significantly. This is why this book
starts by presenting basic pricing concepts. The strategies, such as for instance, market
segmentation, discount strategy, revenue management, price skimming, are developed and
illustrated. Particular attention is paid to the relationships among margin, price and selling
level. Then, the impact of prices on selling volume is analyzed, and the notion of a selling curve
is introduced. Related pricing methods are presented such as price testing, cost-plus method,
involvement of experts, market analysis and customer surveying. Included in the last category is
the conjoint measurement concerned with finding what parameters of the items are important
to customers. The profile method and a simplified version, the two-factor method, are also
detailed and illustrated. They provide a set of partwords (i.e., numerical values) for each tester.
In other words, the opinion of each tester can be represented by a point in a space whose
dimension is the number of part-worth’s. By applying a clustering method, specifically K-mean
analysis, we obtain a limited number of clusters, each of them representing a market segment.
The chapter ends with theintroduction of price strategies in oligopoly markets.

STATEMENT OF THE PROBLEM

It is only through price that money comes into a well established organization. ... To achieve
this set objectives organization such as the Power Holding of Nigeria (PHCN) must balance all
these problems. STATEMENT OF PROBLEM. Price is the marketing-mix element that produces
revenue, the other produces costs.

Objectives:

• The financial goals of the company (i.e. profitability)

• The fit with marketplace realities (will customers buy at that price?)
• The extent to which the price supports a product's market positioning and be consistent
with the other variables in the marketing mix
• The consistency of prices across categories and products (consistency indicates
reliability and supports customer confidence and customer satisfaction)
• To meet or prevent competition
• Price is influenced by the type of distribution channel used, the type of promotions
used, and the quality of the product. Where manufacturing is expensive, distribution is
exclusive, and the product is supported by extensive advertising and promotional
campaigns, then prices are likely to be higher. Price can act as a substitute for product
quality, effective promotions, or an energetic selling effort by distributors in certain
markets.
• From the marketer's point of view, an efficient price is a price that is very close to the
maximum that customers are prepared to pay. In economic terms, it is a price that shifts
most of the consumer economic surplus to the producer. A good pricing strategy would
be the one which could balance between the price floor and the price ceiling.
NEED FOR STUDY
Everything you need to know about the importance of pricing. Pricing decisions can have very
significant consequences for the organization
It is one of the first considerations for many customers and it determines the profit margin on
products.
Pricing is one of the significant elements of the marketing mix, if late, it has come to occupy the
centre stage in marketing wars.

SCOPE OF STUDY
The scope of the base currency that is used for product prices can be configured to apply at
either the global or website level. If applied to the global level, the same price is used
throughout the store hierarchy. If applied to the website level, the same product can be
available at different prices from stores that are associated with different websites. By default,
the scope of product pricing is global.

Different factors can affect the price of the same product in one location and not another. For
example, there might be additional costs to bring the product to market, and other
considerations that impact the price of products sold in a specific store. The following
illustration shows a multisite installation with the base currency set to the website level. The
stores and store views associated with each website reflect the product pricing that is set at the
website level.

LIMITATIONS

• Perfect Market is an Unreal Market

• Sellers Influence Prices in the Real World
• Price Adjustment is not Automatic
• Consumer’s Sovereignty is Unreal
• Competition Leads to Monopoly
• Wastage of Resources May Occur
• Causes Instability
• Creates Inequality
• Market Fails
CHAPTER 2
HISTORY AND EVOLUTION OF GOLD

From the first discoveries of gold in ancient times, its beauty and the ease with which it could be
worked have inspired craftsmen to use it to create ornaments, not just for adornment, but as
potent symbols of wealth and power. The first pure gold coins were struck by King Croesus of
Lydia (present-day Turkey) during his reign between 560 and 547 BC and gold coins have
continued as legal tender since that time. The forms of jewellery used in the ancient period are
quite different from what we use today. The earliest form of jewellery discovered in the Indian
continent are described as ancient jewellery and it includes earrings, beads, amulets, seals, and
much more. The history of jewellery can be traced back over 300 BC and gold jewellery was
found in the tombs of Tutankhamen. Jewellery has been a part of Indian civilization for many
centuries. Gold ornaments have been discovered that date back as far as the Harappa and
Mohanjodarocivilisations, thousands of years BC. It was around 5,000 years in the ancient past
that the need for decoration of human bodies conceptualized the art of jewellery making in India.
One of the first to start jewellery making were the peoples of the Indus Valley Civilization.
Unlike many other cultures, Indus Valley jewellery was never buried with the dead. Instead,
jewellery was passed down to children or family. Jewellery was crafted not only for humans but
also for the Gods. For the rulers, jewels were a statement of power, prosperity and prestige. But
for the Indian woman, jewellery was and is, even today in many parts considered as a security,
the value of which will almost always accentuate, never depreciate. The next records are of the
ancient Assyrians who, in the year 2470 B.C., conquered their neighbours and carried away
stolen gold. The Greek and Roman kings also loved gold. During the Middle Ages, men were so
anxious to have gold that they tried to find a way to change other metals to gold. The Sumerians,
Minoans, Mycenaeans, Please purchase PDF Split-Merge on www.verypdf.com to remove this
watermark. 22 Egyptians, Etruscans, and other Mediterraneas earned reputations as highly
skilled artisans and goldsmith's. It is widely agreed that the height of goldsmithing in ancient
times advanced in Egypt from 1700 to 2100 B.C., Crete in the 1500's B.C. and Etururia in 600
B.C. The first coins made purely from gold are minted in Lydia in 560 B.C , a kingdom of Asia
Minor. After a victorious campaign in Gaul in 58 B.C, Julius Caesar brought back enough gold
to give 200 coins to each of his soldiers and repay all of Rome’s debts. In 1299 A.D. Marco Polo
wrote of his travels to the Far East, where the “gold wealth was almost unlimited.” During 1284
A.D. Great Britain issued its first major gold coin, the Florin, which was followed by the Noble,
the Angel, Crown, and Guinea. The Royal Commission, composed of Isaac Newton, John Locke,
and Lord Somers, recommends a recall of all old currency, issuance of new specie with
gold/silver ratio of 16-to-1. The gold price thus established in Great Britain lasted for over 200
years. From the 16th to 18th century mines were established in Mexico, Brazil and Russia, Brazil
supplying over 1/3 of the world's supply at that time. In 1868 A.D. George Harrison, while
digging up stones to build a house, discovered gold in South Africa – since then, the source of
nearly 40% of all gold ever mined is from South Africa. In 1898 A.D. Two prospectors
discovered gold while fishing in Klondike, Alaska, spawning the last gold rush of the century.
The discovery of gold anywhere in the world has always caused a rush of people to that place.
Gold was discovered in California in 1848 and the Gold Rush of ‘49 followed. The same thing
happened when gold was discovered in Australia in 1851, in British Columbia in 1856, in South
Africa in 1886, and in Alaska in 1896. In 1913 A.D. Federal Reserve Act specifies that Federal
Reserve Notes be backed 40% in gold. In 1931 A.D. Great Britain abandons the gold bullion
standard. In 1944 A.D. The Bretton Woods agreement, ratified by the U.S. Congress in 1945,
establishes a gold exchange standard and two new international organizations, the International
Monetary Fund (IMF) and the World Bank. The new standard involved setting par values for
currencies in terms of gold and the obligation of member countries to convert foreign official
holdings of their currencies into gold at these par values. In 1968 A.D. London Gold Market
closed for two weeks after a sudden surge Please purchase PDF Split-Merge on
www.verypdf.com to remove this watermark. 23 in the demand for gold. In 1980 A.D. IMF sold
one-third of its gold holdings, 25 million troy ounces to IMF members at SDR 35/ounce in
proportion to members’ shares of quotas on August 31, 1975, and 25 million troy ounces at a
series of public auctions for the benefit of developing member countries. In 1978 A.D. Japan
lifted ban on gold exports, touching off a “gold rush” among investors who can sell as well as
buy. In1982 A.D China introduced the Panda bullion coin. In 1987 A.D. The World Gold
Council is established to sustain and develop demand for the end uses of gold and in 1992 A.D.
World Gold Council introduced the Gold Mark as an international identification mark for gold
jewellery. In 1993 A.D. Germany lifted its value added tax restrictions on financial gold, causing
a resurgence of private demand of gold and in the same year India and Turkey liberalized their
gold markets. In 1994 A.D. Russia formally established a domestic gold market. The process of
producing gold can be divided into six main phases: finding the ore body creating access to the
ore body removing the ore by mining or breaking the ore body transporting the mined material
from the mining face to the plants for treatment processing refining This basic process applies to
both underground and surface operations.

Glittering India
India is one of the largest exporters of Gems and Jewellery. The industry plays a vital role in the
Indian economy for its role as a major contributor to the total foreign exchange reserves of the
country.
The overall net exports of Gems and Jewellery registered an annual growth of 9.1% to reach $
35.6 bn during 2016-17. Exports of cut and polished diamonds, gold jewellery and silver
jewellery registered a growth of 10.2%, 1.9% and 35.9%, respectively during 2016-17. Exports
of gold coins and medallions from India stood at $ 1.9 bn, while exports of silver jewellery stood
at $ 3.3 bn during April 2017-February 2018.
India is also a major importer of gems and jewellery. The imports of gems and jewellery
increased at a CAGR of 7.8% from $ 11.63 bn in 2004-05 to $ 28.8 bn in 2016-17. The imports
during April 2017-February 2018 stood at $ 28.3 bn.
US, Hong Kong and UAE are the major exporters, who accounted for 75% of the total gems and
jewellery exports from India during 2016-17. Other big importers of Indian jewellery include
Russia, Singapore, Latin America and China.

Company profile
As Gold is glittering in India, Raghavendra Jewelry started its business in Guntakal, Andhra
Pradesh, India in the year 2017. Assuming with a minimum investment required to setup a
jewelry shop in India which amounts to ₹ 50 lakhs. With the minimum investment of ₹ 60 lakhs
it started its new business.

Raghavendra Jewellers imports Gold and Silver designs from Bharathi Jewellery situated in
Bangalore, Karnataka. Accepting a current market price of Gold and Silver at Bangalore price.

Current market price in Bangalore of Gold is ₹ 44,620 per 10 grams, Silver amounts to ₹ 485 per
10 grams on 12/03/2020.
Company

Company Sri Raghavendra Jewellers

Founder Ginka Rambabu
Founded July, 2017
Owners and Key people Ginka Rambabu
Ginka Raghavendra
Industry Gems and Jewellery
Address Crown Talkies Road, Opp. Ranga T.V
house, Guntakal, Andhra Pradesh, India.

Products available in Sri Raghavendra Jewellers

❖ Gold
➢ Ear Rings
➢ Finger Rings
➢ Bracelet
➢ Chains
➢ Bangles
➢ Necklace
➢ Dollars
➢ Wedding set Jewellery
❖ Silver
➢ Bracelet
➢ Spoons, cups, lamps
➢ Chains
➢ Bangles
➢ Dollars
THEORTICAL BACKROUND

Pricing is the process whereby a business sets the price at which it will sell its products and
services, and may be part of the business's marketing plan. In setting prices, the business will
take into account the price at which it could acquire the goods, the manufacturing cost, the
marketplace, competition, market condition, brand, and quality of product.

Pricing is a fundamental aspect of financial modeling and is one of the four Ps of the marketing
mix, the other three aspects being product, promotion, and place. Price is the only revenue
generating element amongst the four Ps, the rest being cost centers. However, the other Ps of
marketing will contribute to decreasing price elasticity and so enable price increases to drive
greater revenue and profits.

Pricing can be a manual or automatic process of applying prices to purchase and sales orders,
based on factors such as: a fixed amount, quantity break, promotion or sales campaign, specific
vendor quote, price prevailing on entry, shipment or invoice date, combination of multiple
orders or lines, and many others. Automated pricing systems require more setup and
maintenance but may prevent pricing errors. The needs of the consumer can be converted into
demand only if the consumer has the willingness and capacity to buy the product. Thus, pricing
is the most important concept in the field of marketing, it is used as a tactical decision in
response to changing competitive, market and organisational situations.

PRICING METHODOLOY
Based on the current market price the price, the price will be fixed on that particular date.
The price will be based on Bangalore location.

SWOT ANALYSIS
STRENTH-
WEAKNESS- Competitors can offer similar products quickly,

Limited startup cost

OPPORTUNITIES-
THREATS-
CHAPTER-3
 RESEARCH METHODOLOGY
Methodology is the systematic, theoretical analysis of the methods applied to a field of study. It
comprises the theoretical analysis of the body of methods and principles associated with a branch
of knowledge.

DATA REQUIRED

1. Primary data
2. Secondary data

PRIMARY DATA

Data observed or collected directly from first-hand experience is called primary data.

Questionnaire methods are used to elicit information from employees of various hierarchy
departments.

Primary data are those which are gathered specially for the project at hand is directly through
questionnaire and personal interaction.

SECONDARY DATA

Published data and the data collected in the past or other parties is called secondary data.

The secondary data has been collected from different books and company files and website.

The secondary data has been collected by an individual from different sources.

• Text books, research papers, journals

• Internet

SAMPLE

Simple random sample a sample random sample is a subset of a statistical population in which
each member of the subset has an equal probabilities of being chosen.

Sample size: Total number of respondents are 100 only

Sample Techniques: The technique used for the project is simple random sampling.
PRIMARY DATA COLLECTION TOOLS USED

➢ Questionnaire
➢ Face to face interview
➢ Opinion collection
➢ Telephonic interview
➢ Mails etc.

SECONDARY DATA COLLECTION TOOLS USED

➢ Reports and Feedbacks
➢ Company Information
➢ Business Journals
➢ Financial Statements
➢ Management Information system
CHAPTER-4
DATA ANALYSIS AND INTERPRETATION

Profile of Consumers Based On Gender

Table 4.1Profile of Consumers Based On Gender

GENDER NO OF RESPONDENTS PERCENTAGE OF RESPONDENTS
MALE 24 24%
FEMALE 76 76%
TOTAL 100 100%

GENDER OF CONSUMERS

MALE FEMALE

It is observed from the above data that women are the primary end consumers of jewelry, around
76 % of women buy jewelry and only 24% of men do the same. Women are by far the largest
audience for shopping channels, especially for jewelry. That’s why those channels market to
women, even when they sell men's rings around Father's Day and Xmas.
Age

Table 4.2 Profile of Consumer Based On Age Group

AGE GROUP NO OF RESPONDENTS PERCENTAGE OF RESPONDENTS
Below 25 Years 8 8%
25 to 35 Years 27 27%
35 to 45 Years 29 29%
45 Years and above 36 36%
Total 100 100%

AGE GROUP OF RESPONDENTS

BELOW 25 YEARS 25 to 35 YEARS 35 to 45 YEARS 45 YEARS and ABOVE

It is evident from the above details that all the age groups of consumers have been trying to be
incorporated in the current study. Age group of people above 45 years are maximum i.e. 36% in
the present study in the jewelry market, as most of the persons become parents at this stage and
buy jewelry for their kid’s marriage or other occasion in the family. The people at this age are
usually the decision makers in the family and are the main target consumers of jewelry.
Similarly, the people in the

age group of between 25 to 35 years, hold 29% of the current sample population and people
belonging to 25-35 years of age hold 27% which is also a significant percentage of people in the
present study. It can be stated that consumers of jewelry below the age group of 25 years are
minimum i.e. 8% only, as during this age group very few become independent in Indian society
to get their funds and can make their own decision to buy the jewelry.
Area Profile

Table 4.3 Area Profile of the consumer

NATIVE PLACE NO OF RESPONDENTS PERCENTAGE OF RESPONDENTS
RURAL 19 19%
URBAN 81 81%
TOTAL 100 100%

AREA PROFILE OF CONSUMER

RURAL URBAN

It can be viewed from the above data that most of the consumers (81%) purchasing jewelry in
Jaipur belong to the urban place mostly Jaipur itself. Few belong to native place may be in some
rural areas (19%).
Education Levels of Consumers

Table 4.4 Education Levels of Consumers

Qualification NO OF RESPONDENTS Percentage of Respondents
BELOW 10th 12 12%
UPTO 12th 19 19%
GRADUATES 49 49%
PROFESSIONAL DEGREE 15 15%
DOCTORATES(PHD) 5 5%
TOTAL 100 100%

QUALIFICATIONS OF RESPONDENTS

BELOW 10th UPTO 12th GRADUATES PROFESSIONAL DEGREE DOCTORATES(PHD)

Qualificationis an important distinguishing factor among the consumers of any goods. In case of
current study, it is evident that most of the graduates buy jewelry i.e. 49% of the sample
population under study is Graduate. There are 12% educated people who have completed only
10th and 19% are educated up to 12th class. It is observed that in Jaipur which is an Urban city
education had flourished and many respondents are at least Graduates today. There are some
highly qualified people in current study i.e. 15 % have professional degree i.e. C.A., Doctor,
Engineer and 5% are doctorates too. The qualification analysis brings the fact that all types of
people have been trying to be incorporated into the study, as all persons having various
educational levels have specific understanding of buying jewelry and therefore acts as a
significant variety of consumers in the jewelry market.
Occupation

Table 4.5 Occupation Status of Consumers

Occupational Status No of Respondents Percentage of Respondents
Self-working-Male 58 58%
Self-working-Female 7 7%
Both working 35 35%
Total 100 100%

OCCUPATIONAL STATUS OF CONSUMER

Self working-Male Self working-Female Both working

It is evident from the above table that most of the people purchasing jewelry belong to single
working family only i.e. mostly males are working and females are acting as housewives. This
type of consumers are 58% among the whole sample population. It can be observed from the
above data that as the financial conditions of consumers is directly related to the number of
persons working in the family therefore as the consumers who have only single handed income
belongs to the average middle class family and the consumers of family where both husband and
wife are working i.e. 35%, in the current study have more flexibility towards the investment of
funds or liberty to purchase more jewelry than the counterpart. There are only 7% female
consumers who are working only in their family and act as respondents of current study. All
working members of the family belong to various professions as discussed.
Source of Income of Consumers

Table 4.6 Source of Income of Consumers

Occupation No of respondents Percentage of respondents
Business 27 27%
Housewife 39 39%
Service 14 14%
Student 17 17%
Artist 3 3%
Total 100 100%

Income Profile Of Consumers

Business Housewife Service Student Artist

Stated earlier 39% of jewelry consumers are housewives only. 14% of the total consumers are
either engaged in private or in Government services. 27% of Businessman, 17% students and 3%
artists act as consumers of jewelry in the current study. It can be significantly proved that as the
maximum population under consumers of jewelry are females and most of them are housewives
but the man who purchase jewelry mostly for investment are businessmen.
Income of Family

Table 4.7 Income Divisions of Consumers

Income group of Income per month of No of respondents Percentage of
respondents respondents respondents
Below lower class Up to 5000 1 1%
Lower class 5000-15000 6 6%
Lower Middle class 15000-30000 13 13%
Middle class 30000-50000 31 31%
Upper Middle class 50000-60000 33 33%
Upper class 60000 Above 16 16%
Total Respondents 100% 100%

Income Division of Consumer

Below Lower class Lower class Lower Middle class

Middle class Upper Milddle class Upper class
s

Evident that most significantly contributing segment of consumers belongs to upper middle class
segment 33% of society, i.e. their family earnings per month range from Rs 50,000/- to Rs
60,000/-. The second most important segment is middle class people belongs to 30000-50000
income group they contribute 31% of consumers under study. Around 16% consumers in this
study belong to higher class having a higher income range, i.e. Rs. 60000 and above per month.
The higher income people also evident to significantly express as the investors in jewelry market
or may purchase jewelry for fashion also. But on the other segment they purchase jewelry only
for some reason i.e. marriage, festival etc. It can also be started from the above data that lower
income families don’t have sufficient funds to invest in costlier jewelry.
Reason to Purchase Jewelry

Table 4.8 Purpose of Buying Jewelry

Reason for purchasing jewelry No of respondents Percentage of respondents
Investment 35 35%
Fashion 16 16%
Occasions 31 31%
Festivals 18 18%
Total 100 100%

Purpose of Buying Jewellery

Investment Fashion Occasions Festivals

From the above statement it is observed that 35% consumers of current study purchase jewelry
for investment and 31% of total population buy it at some occasions such as marriage, birth of
kid etc. and 18% buy it for festivals such as Deepawali, Eid, Christmas, karwachoth etc. but 16%
of them buy jewelry for fashion purpose. Costume jewelry is manufactured as ornamentation to
complement a particular fashionable costume or garment. In average family people most of the
females buy other fashion products but not purchase regular specific jewelry for specific fashion
of dressing.
CHAPTER-5