CONSUMER PERCEPTION TOWARDS TANISHQ BRANDED GOLD JEWELLERY IN BANGALORE By

KUMAR SAMBHAV Reg no : 11SKCMA047

EMPOWERING MINDS

AIMS
Peenya, Bangalore

Introduction
The gems and jewellery industry has an important role in the Indian economy. Indian jewellery sector it is mostly unorganized in nature with about 95 % of the sector being unorganized and only 5% in the organized segment which is mainly controlled by a select few, which includes Tanishq, Gitanjali to name a

few.
There are over 15,000 players across the country in the gold processing industry. Plain gold has now given way to diamonds, platinum and coloured gemstones. Growth in the diamond industry has been remarkable.

Literature Review
Jewellery retailing is moving from a storehouse of value to a precious fashion accessory. Plain gold is gradually easing its strong hold on the Indian consumer psyche to give way to diamonds, platinum and coloured gemstones. The way jewellery was worn before is undergoing a tremendous change. Traditional designs are yielding to modern jewellery, heavy gold is giving way to light and simple designs. Consumers are more quality conscious than ever before. The jewellery market is one of the largest consumer sectors in the country.

Research Methodology
Research Objectives

To understand customer perception about branded jewellery To understand the factors consumer consider while purchasing precious jewellery. To understand the factors influencing consumer decision towards purchasing branded jewellery To study the role and behaviour of the people (family, friends, peers) who influence decision making process for purchasing branded gold jewellery. To study the impact of rising gold price on the consumers of branded gold jewellery. Since wedding are one of the primary occasions for purchase of gold jewellery in India, Do the consumer prefer branded jewellery vis traditional gold jewellery.

Research Methodology (continued)

Hypothesis Testing Using Chi-square Method.

To check if there is a relationship between the age and the category of jewellery customers prefer from Tanishq. H0 : There is no significant relationship between the age and the category of jewellery they prefer from Tanishq. H1 : There is a significant relationship between the age and the category of jewellery they prefer from Tanishq.

Research Methodology (continued)

SOURCES OF DATA

The study is based on primary & secondary source of data.

SAMPLING TECHNIQUE Random sampling technique SAMPLE SIZE Sample size is based on 100 respondents. DATA COLLECTION The study is based on primary and secondary data. Primary data includes questionnaires.

Secondary data was collected from Journals, websites, magazines and records.
DATA ANALYSIS Tables, charts & graph

Research Methodology (continued)

LIMITATIONS Area of study is limited to TANISHQ showrooms in Bangalore city only. Assumed that respondents will be giving accurate information & data. The analysis will be based on the current situation; as such it may lose its relevance in the future. Secondary data used for the study may not be relatively accurate.

Summary of Analysis
Analysis shows that,
68% of the respondents are women while only 32% of the respondents are men. 48% of the respondents were from the age group 18-28, 35% of the respondents were from the age group 29-38 and 17% of the respondents were above 38 50% of the respondents say that they prefer branded jewellery, 35% of the prefer unbranded and 15% prefer both. Most of the customer of Tanishq whose salary in between Rs.3000050000. Analysis also shows that customer who are employed in TATA group they get 20% discount.

Major Findings
As testing hypothesis it showed that There is no significant relationship between the age & the category of jewellery customer prefer 59% of the customers purchasing from Tanishq are married and the unmarried customers comprise of 41%. 50% of the respondents say that they prefer branded jewellery, 35% of the prefer unbranded and 15% prefer both. 100% of Tanishqs customers say that they are satisfied with the products purity and quality. 79% of the respondents are satisfied with the making charges and 21% of them are not satisfied with the making charges.

Conclusion & Suggestions

CONCLUSION
The major factor behind purchasing jewellery from branded retailer is purity and design. Income and age has an effect on the type of jewellery purchased. Branded jewellery is becoming more popular due to the wide spread publicity taken up by the various brands like Tanishq. The companies can introduce few more plans like two installment free scheme, two to five years scheme to attract more respondents. They can show more importance towards the regular customers by giving them special discounts during purchase of jewellery and also during festival seasons.

SUGGESTIONS

Key Learnings
Customer preference towards 22kt for jewellery & 24kt for gold coins. In Tanishq, I get to know about GHS 11+1 (Golden Harvest Scheme) & Swarnanidhi Scheme. Interaction with customers during explaining process of GHS Scheme. I learned about Encircle Card in which customers were getting coupons for discount for Titan Industries Outlets. TANISHQ is known for brand because its TATA product.