cygnus jwellers profile

8/19/2019 cygnus jwellers profile

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INDUSTRY PROFILE OF INDIAN JEWELLERY

The Jewellery Industry is one of the fastest growing industries in the country. The

growth in purchasing parity of the middle class and surging income levels have

resulted in consumption growth of jewellery by about 11 percent in the five-year

period preceding 200-0!. It also contributes over 1" per cent of India#s total

e$ports and provides employment to 1.% million people directly and indirectly.

The two major segments of the sector in India are gold jewellery and diamonds.

&old jewellery forms around !0 per cent of the Indian jewellery mar'et( with the

balance comprising fabricated studded jewellery that includes diamonds as well

as gemstone studded jewellery.

India consumes nearly !00 tones of gold accounting for about 20 per cent of the

world gold consumption( of which nearly )00 tones goes into ma'ing jewellery.

The Indian jewellery mar'et( estimated to be *+, 1%." billion in fiscal 200)-0(

accounts for !.% per cent of world jewellery sales.

Indian jewelry made of following diamond jewelry( gold jewelry( silver jewelry(

and platinum jewelry( pearls jewelry.

The domestic branded jewellery mar'et( which has players such as Tanish(

/ygnus( 'iah and na'shtra. igures show that there are now more than "(000

retail stores that sell jewelry in the area.

ew figures have revealed that Indian jewelry mar'et is now worth more than s

"!( 000 crore( a study has concluded that it is growing in popularity at a

tremendous pace of 20-%0 per cent.

Navnirman institute of management


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3ccording to the survey( gold jewelry is the first metal of choice amongst Indian

consumers. +uch is the potential of this industry that the consulting firm

4c5insey estimates the branded jewellery mar'et in India to grow at the rate of

60 per cent per annum to touch s.10(000 crores by 2010. The shift was visible

in 2006 when more than %0 players entered the mar'et. Today there are more

than "0 brands( endorsed by models( film actors( sports celebrities and other

well-'nown faces. Indian jewellery demand rose by 0 per cent during the first

half of 200 compared with the same period last year. Jewellery demand

increased to %! tonnes from 22 tonnes during the period



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!

INTRODU"TION OF T#E "O$PANY

7stablished in 182( /ygnus Jewellery is an offshoot of the 9a$mi :iamond

&roup( the 2nd largest e$porter of polished diamonds in the country. /ygnus hasover 22% outlets across India. /ygnus also has a number of e$clusive

showrooms in almost all major metros and has established its prominent

presence in 4umbai( 3hmedabad( :elhi( /handigarh( 5ol'ata( ;yderabad(


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%

$EANIN& OF 'RAND


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'RAND AWARENESS

It is the ability of potential buyer to recogniFe or recall that a brand is a part of a

product category. In other words( the customer should be able to identify a firm#s

product in the retail stores or able to recall its brand whenever he or she thin's of

the product class.


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)

O'JE"TI*E OF T#E STUDY

I have selected DBrand recall” of the /H&*+ J77997H as main objective

of my study.

@n the basis of this study the company comes to 'now how many people are

aware about the brand D/H&*+E and can also 'now which type of jewellery

people e$pect from them and what people feel about /H&*+ J77997H.

Secondary Objectives: -

1. To 'now which brand in jewellery mar'et has lead the mar'et in the

+urat city.

2. To 'now the sources from where people become aware about the

/ygnus jewellery


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'ENEFITS OF T#E STUDY

This project report and survey can be helpful for 'nowing the brand awareness of

/ygnus jewellery in +urat city. 3s we 'now that /ygnus is the famous brand in

jewellery so from this report we can find out that how many people are aware

about the /ygnus brand in +urat city. e can also find which other brand are

'nown by people.

Some of t,e ot,er -enefits .an -e/

• It will provide information about the brand awareness of /ygnus Jewellery

in +urat city.

• It will help mar'eting department to 'now effectiveness of various sources

of promotion.

• It will help management to ta'e decisions regarding promotional schemes

and tools to be used.

• It provides information about the current mar'et position of the brand

D/H&*+E.



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0

LI$ITATIONS OF T#E STUDY

3s no human being is perfect( it is not possible for any one to ma'e the best or

perfect report. 7ach person has some level of 'nowledge and is affected by

some uncontrollable factors within which heshe has to wor'. +o( it might

possible that there can be some limitations in this report that may be due to my

'nowledge level or some other factors. 3ccording to me following limitations can

be prevailing in my report

The study contains convenience sampling because of limited time.

There are possibilities for getting wrong response from respondents.

The study cannot cover whole population as it is limited only within some

area for survey.

The time limit for the project is only 2 months.



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RESEAR"# DESI&N

3 esearch design is a master plan or model for the conduct of formal

investigation. 3 esearch design is the specification of the methods and

procedure for acuiring information needed for solving problem. The formal

investigation plan will concentrate on the selection of sources of information and

selection of model and procedure for gathering data.

The research design can be classified in three broad categories

A3B 7$ploratory

A


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SAMPL !S"#$:

+ampling design reuires ta'ing decisions related to target population( sample

siFe and sampling method. These are described below

%arget Pop&lation

Target population is a group about which conclusion is to be made. or this

research it will be people of +urat city.

Sa'ple Si(e

+ample siFe can be defined on the basis of protesting of many samples after pre

testing of many persons. 3s per the census of 2006( +urat city has provisional

population of %0( "!(600 appro$.

+o it is difficult to approach the entire population of +urat city. +o I have selected

100 respondents by using /onvenience sampling method from ?arachha road(

ing road( /ity light area( =arley point area in +urat city.

Sa'pling Method

+ampling method selected for this research is con)enience sa'pling as a part

of non- probability sampling.

!A%A *+LL*%"+$ M%,+!:

@nce the research design and sample design has been decided the ne$t stage is

that of selecting source of a data. 7ssentially( there are two type of source of

data i.e. primary data and secondary data. or our research the best-suited

method is pri'ary data collection.

The primary data are those data that are collected for the first time( and thus

happen to be original in character.



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To 'now brand awareness of /ygnus Jewellery reuires meeting people and

as'ing them uestions. 3nd so( the best suitable instrument for data collection is

uestionnaire. The main source of data for this research is &estionnaire

In my research( I have gathered secondary data from website( boo's( and

company catalogue.



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1

13 Do 4ou 5i6e to 7ur.,ase -ran8e8 8iamon8 9e:e55er4;

Pre In no In 7er

Yes 12 (

No 12 2(

Tota5 22 122

@ut of 100 people I have met !K people prefer branded jewellery whereas 1%K

do not prefer branded jewellery.

W,i., among t,e fo55o:ing -ran8s 4ou are a:are of in t,e 9e:e55er4

mar6et;

Brand Respondents



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1%

Ran6 t,e fo55o:ing a..or8ing to 4ou?

rom the above graph it can be seen that :#damas has got highest preference

in 1st ran' and a'shatra has also got highest preference in 1 st ran' but is less

than :#damas so it can be considered as 2nd ran'ed brand. 3smi has got %rd

ran'( Tanish has got ) th ran'( 5iah has got "th and /ygnus has got 6th ran' as

per highest preference given by people.


Brand 1 2 3 4 5 6

Cygnus 5 9 21 32 14 19Kiah 14 17 14 16 22 17

Tanishq 11 12 17 22 9 29

Asmi 8 14 27 19 23 9

Nakshatra 28 26 10 5 13 18

D'damas 34 22 11 6 19 8

Tta! 100 100 100 100 100 100


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1(

Do 4ou 6no: a-out @"Y&NUS -ran8;

@ut of 100 respondents I have met )K are aware of the brand /ygnus whereas

%%K are not aware or have not heard of this brand. +o( we can say that brand

awareness of /ygnus in the +urat city is )K.


Awareness Respondents

Yes )+

No !!

Total 100


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1)

#o: 8o 4ou .ome to 6no: a-out t,e -ran8 @"Y&NUS JEWELLERY;

B$u5ti75e .,oi.e avai5a-5e3


Sources Respondents

Ne:s7a7er 1!

$agaCines !

S7onsors,i7

Te5evision !

#oar8ings %0

Re5atives !)

Total 125


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1+

This can be seen from the above chart that hoarding shows highest figure that is

6! which is followed by relativesA%)B( televisionA2%B( ewspaperA1%B(

magaFinesA%B and sponsorshipA2B respectively. +o( finally we can conclude that

among all the sources of promotion( hoardings play a major role in ma'ing

people aware about the brand.



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W,i., among t,e fo55o:ing .omes to 4our min8 :,en 4ou ,ear of

@"Y&NUS JEWELLERY;

The above graph shows that around ""K A%B people thin's of diamond jewellerywhen it comes to /ygnus( whereas 2)K A1!B thin's it as a brand of =latinum(

1%K A8B considers it as a gold specialist and rest i.e.6K A%B sees it as a brand of

silver.

rom the above chart it can be said that /ygnus is well 'nown for its diamond

and platinum jewellery than other types of jewellery.


Kinds o jewellery

Respondent

sDiamon8 !+

P5atinum 10

&o58

Si5ver !

Total 6!


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#ave 4ou ever visite8 s,o:room of @"Y&NUS JEWELLWRYEL

@ut of 100 people I have met only 6" have visited any of the showroom of

/ygnus. It can be said that out of ) people who are aware about the brand only

6" have visited the showroom. +o( conversion of awareness to visitbuying ratio

is only A6")M100B )K.


$isitors Respondents

Yes %(

No ((

Total 100


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W,i., among t,e fo55o:ing t47e of 9e:e55er4 4ou ,ave -oug,t from t,e

@"Y&NUS s,o:room; B$u5ti75e .,oi.e3

@ut of 6" people who have visited /ygnus showroom highest number of people

have bought diamond jewellery followed by platinum( gold and silver respectively.

+o( this data also supports that /ygnus is well 'nown for its diamond jewellery.


Kinds o jewellery

Respondent

s

Diamon8 %1

P5atinum 1

&o58 +

Si5ver

Total )


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Wou58 4ou 5i6e to visit @"Y&NUS s,o:room in future;

@ut of "" people who have still not visited /ygnus showroom( 62 are willing to

visit it in future whereas 1% people are not ready to visit it. +ome of the reasons

given by respondents for their unwillingness to visit the showroom are

• 9oyalty towards other brands

• 9ac' of variety in gold and silver jewellery


Response Respondents

Yes %

No 1!

Total 55


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Rate

Rating of 7ri.e 8is.ount/

@na

scale of " to 1( highest number i.e. 1% people have gave is 1 st rate. +o( it

can be said that price discount is the least attracting factor for the

visitors of /ygnus jewellery.

hat attracts you more to go to D/H&*+E showroomL A&ive ratings from "-1B

Rating of


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Rating of re5ia-i5it4/

;ighest number of people have gave reliability as 2 nd rate. It shows that visitors

of /ygnus do not consider reliability as major concern for buying jewellery.


Rate Respondents

1 ) 1%

! 0

% 12

( +

Total %5


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)

Rating of avai5a-i5it4 of ne: 8esigns

3vailability of new design as a attribute for attraction of visitors to the /ygnus has

got highest rating on "th scale. +o( it can be said that this attribute attracts highly

to visit the showroom.


Rate Respondents

1 0

)

!

%

( 1!

Total %5


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+

Rating of variet4 of 9e:e55er4

?ariety of jewellery has got %rd rate by highest number of respondents. +o( it can

be said that variety of jewellery available has got moderate attraction for the

visitors.


Rate Respondents

1 11

! 1

% 0

( (

Total %5


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#o: fre


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You 8efine "Y&NUS asH

$iewRespondent

s

Premium -ran8

&reat va5ue for mone4 1%

Internationa5 .5ass 0

A .,oi.e for ever4 o..asion !

Total 6!

4ost of the people considers /ygnus as choice for every occasion i.e.( their

demand is being fulfilled satisfactorily( whereas 22 people sees it as premium

brand and feels proud in wearing its jewellery( 16 people considers it as great

value for money and only ! perceives it as international class brand.

,o yo& de/ine *0#$S as a rand-



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!1

+ome of the common answer defined /ygnus as

3 synonym for :iamond jewellery

3 premium brand in reasonable price



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FINDIN&S

!K people prefer branded jewellery whereas 1%K do not prefer branded

jewellery.

Tanish is a well 'nown brand and is followed by a'shatra and :#:amas

respectively. hereas 5iah and other brands has got very less awareness

level in the +urat city.

:#damas has got highest preference in 1st ran' and a'shatra has also

got 2nd ran'. 3smi has got %rd ran'( Tanish has got )th ran'( 5iah has got

"th and /ygnus has got 6 th ran' as per highest preference given by people.

)K are aware of the brand /ygnus whereas %%K are not aware or havenot heard of this brand.

3mong all the sources of promotion( hoardings play a major role in ma'ing

people aware about the brand.

/ygnus is well 'nown for its diamond and platinum jewellery than other

types of jewellery.

"% people 'nows about the number of showroom /ygnus has in +urat city

whereas 16 people does not 'now it.

;ighest number of people have bought diamond jewellery followed by

platinum( gold and silver respectively.

@ut of "" people who have still not visited /ygnus showroom( 62 are

willing to visit it in future whereas 1% people are not ready to visit it.

=rice discount is the least attracting factor for the visitors of /ygnus

jewellery.

=eople are highly attracted by uality of jewellery provided by the /ygnus.

@ut of total 6" visitors of /ygnus Jewellery no one visits it monthly( % visits

it uarterly( ) half yearly( 8 yearly and 2 said that their time of visit to the

showroom is not fi$ed.

4ost of the people considers /ygnus as choice for every occasion.



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RE"O$$ENDATIONS

/ygnus should increase the display and promotion of gold and silver

jewelley to attract more and more customer to visit its showroom.

/ygnus should increase its promotion by giving advertisement on local

channels through Television( it may help to increase brand awareness

level to the 100K.

/ygnus should also ta'e participation in various sponsorship activities to

increase its visibility.

It should also open one show room in 3dajan area so that all major areas

can be covered.



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!%

"ON"LUSION

3fter completing this research a conclusion can be made that /ygnus is very well

'nown brand in the +urat city and has also got considerable level of brand

awareness. It is very well 'nown for its diamond jewellery.



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!(

'I'LIO&RAP#Y

Boo(s)

1? $ar6eting $anagement 11t, E8ition

H '4 P,i5i7 =ot5er

? $ar6eting Resear., T,ir8 E8ition

H '4 &?"?'ari

*ebsites)

H :::?goog5e?.om

H :::?.4gnus9e:e55er4?.om

H :::?:i6i7e8ia?.om
http://www.google.com/http://www.cygnusjewellery.com/http://www.wikipedia.com/http://www.google.com/http://www.cygnusjewellery.com/http://www.wikipedia.com/

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