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Consumers Buying Preference regarding gold and non-gold Jewells with reference to JOSCO Jewelry

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Introduction:
According to World Gold Council, India is the largest market for gold jewellery in the world, representing a staggering 746 tones of gold in 2010. Indian consumers are actively engaged in considering their next piece; 75% of women say they are constantly searching for new designs. Indian market is plush with varied designs and offerings. As Gold prices are rising sharply, brands are targeting consumers with a limited budget. This is apparent in their offerings, collection and marketing campaigns.

As India makes rapid progress in the retail arena, the Indian Jewellery market is undergoing a gradual metamorphosis from unorganized to organized formats. Jewellery retailing is moving from a ‘Storehouse of value’ to a ‘Precious fashion accessory’. Consumers are more quality conscious than ever before. The jewellery market is one of the largest consumer sectors in the country- larger than telecom, automobiles, and apparel and perhaps second only to the foods sector.

The Indian Jewellery market is large. It’s worth over $16 billion a year. But its largely fragmented and unbranded. Large brands or organized retail account for 4 per cent of the overall market. The rest of the market is in the hands of about 3,00,000 unorganized jewellers. But according to a study by international consultancy firm McKinsey, the India branded jewellery market alone would touch the $2.5 billion mark by 2010.

The traditional segmentation of the Indian jewellery market would be Gold, diamond and Platinum- i.e. segmentation by material. Another typical segmentation could be wedding, fashion and trinket jewellery.

But if you look at the jewellery market from the perspective of consumer buying habits, the classification would fall into three clear segments: Everyday wear, Special occasion wear, Wedding jewellery. Everyday wear could be jewellery worn for work or at home. Special occasion wear could either be jewellery either be the trousseau, which is worn to the mantap or wedding hall or it could be fashion jewellery.

Number of Pages of Project Report: 98
Package Includes: Project Report
Project Format: Document (.doc)

Table of Contents of Project Report:
CHAPTER 1: INTRODUCTION
CHAPTER 2: COMPANY PROFILE
CHAPTER 3: INDUSTRY PROFILE
GOLD INDUSTRY IN INDIA:
PLATINUM JEWELLERY DEMAND SET TO SURGE IN INDIA
DIAMOND MARKET- INDUSTRY STRUCTURE
CHAPTER 4: LITERATURE REVIEW
CHAPTER 5 RESEARCH METHODOLOGY
DATA COLLECTION
DATA ANALYSIS METHOD
CHAPTER 6: DATA ANALYSIS AND INTERPRETATION
FINDINGS
CONCLUSION
SUGGESTIONS AND RECOMMENDATIONS
LIMITATIONS
DIRECTIONS FOR FUTURE RESEARCH
QUESTIONNAIRE
REFERENCES

 


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