BBA 3RD YEAR 0102462 Research Background •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. Research Objectives O The key research objective was to find out the impact of high price on the purchase of Gold To meet the stated objective MX approached the category customers to ask few key questions: O •Popular and most admired brands by the consumers O •Source of awareness O •Perception of gold jewellery O •Purchase behavior O -Occasions of purchase O -Most preferred merchandise O -Purchase point O -Purity they look for in gold jewellery O -Purchase considerations O •Impact of price rise on the purchase, what it entails for this festive season Consumer feedback is presented in forthcoming slides Research Methodology •Face to face interviews O Research Technique O •Structured Questionnaire O Research Tool O •Consumers who bought Jewellery in the preceding year and likely to buy soon O Target Segment O •Delhi (NCR). Mumbai, Kolkata, Hyderabad, Bangalore, Cochin, Jaipur and Pune O Research Center O •600 respondents O Sample Size O Quantitative Research technique was followed. 600 consumers were interviewed at their homes and market places. Purpose of Purchase O For own use in household O For marriage in the family O Gifts to close friends and relatives O To safegaurd family as Gold/silver is highly liquid O For traditional values O For investment purpose O Considered as status symbol O Got religious significance O For kids Purchase Occasions O Wedding O Akshaya Tritiya O Diwali O Bonus/sudden financial gain O Baby birth O Birthdays O Aniversary O House warming O New year O No specific reason Factors Considered while Selecting a Brand O Price of product O Long Life O Purity of product O Resale value O Available in wide range i.e. designs O Quality of product O Brand advertising O Warranty period O Overall good brand name O After sales service O Trustworthiness of the brand O Offer / discount available O Past experience O Is recommended by friends/ relatives/ dealers O Is the market leader O Trendy look offered by the brand O Knowledgable staff at outlet Key Emerging Trends
O •Consumers of Gold jewellery are getting
younger need for aesthetically rich design to attract this young consumers O •Apart from bridal category consumers are increasingly purchasing gold jewellery on personal occasions such as birthdays and anniversaries Need for daily wearable products O •Increasing popularity of online options Websites and online offering should be focused THANK YOU