Project Report On Buying behaviour of gold with regards toTanishq

Submitted by MMS-M:
Shubham Desai Rajesh Singh Umesh Mishra Pranit Raorane Rohit Srimal Hitesh Bramhabhatt Suresh Vishwakarma 77 111 87 97 116 70 120

Under the guidance ofProf. Yogesh Funde

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PART A

1)

Consumer Self-Concept and Attitudes

Self-Concept/Image

Concept of Self-Concept Consumers have a variety of enduring images of themselves. By having a Self-concept, every consumer (individual) believes that he/she possesses certain characteristics, traits and values. These self-images, or perceptions of self, are very closely associated with personality in that individuals tend to buy products and services and patronize brands whose images or personalities relate in some meaningful way to their own self-images. In essence, consumers seek to depict themselves in their brand choices they tend to approach products with images that could enhance their self-concept and avoid those products that not. Brand Image Unlike popular belief, marketers dont make brands, consumer does. Consumers tend to attribute various descriptive personality-like traits or characteristics to different brands. Marketers do Brand Personification, which is to recast consumers perception of the attributes of a product or service into a human-like character. Marketers do so, To personify and humanize their model consumer Example:Mountain Dew Vs Mirinda

Vs

Mountain Dew projects that it is a Dare Devil brand who jumps from mountains, dirt bikes down a mountain, does sky diving. The tag line communicates the same very effectively which says, Darr Ke Aage, Jeet Hai

http://www.youtube.com/watch?v=sV-AygA9VP0&feature=related http://www.youtube.com/watch?v=zfuzgNK5qjA&feature=related

Mirinda projects that it is a Mad brand, bubbly and unpredictable in nature who does masti in the Bidai scene, welcomes a romeo inside home teaches him a lesson. The tag line communicates the same very effectively which says, Pagalpanti bhi zaroori hai

http://www.youtube.com/watch?v=k8kblZC8VnI http://www.youtube.com/watch?NR=1&v=n4-_-9AW4hg

Both these brands created these images from themselves by using dramatization in their TVCs. Consumers use brands to help them in their task of branding (defining) themselves. There are two kinds of self-concepts most important for a marketer; 1. Expected self How consumers expect to see themselves at some specified future time 2. Ought-to self Consists of traits or characteristics that an individual believes it is his or her duty or obligation to possess.
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Buyers self concept plays an important role in purchase of both the brands whose target group is Youth and project brand personality traits common in Youth. The ought-to self concept of most youngsters (specifically male) says that being a Dare Devil is cool and they ought to be one. While in normal life, they might not get opportunity to prove the same to them or peer group. So, they find the easy way out by consuming Mountain Dew. Also, those who already believe that they are dare devils and dont get opportunity to project the same consume Mountain Dew. Similar is the case with Mirinda, only thing different is that its a different trait this time, Madness..crazy.pagalpanti. This enhances the personality of those who forcefully do Ajeeb-Garib activities to project the same.

2) Consumer Attitude
An attitude is a learned predisposition to believe in a consistently favorable or unfavorable way with respect to a given object. The most common sources of influence on consumer attitude formation are as follows:
1. Mass Media This source of influence plays most important role in attitude

formation for categories in which product/services real attributes do not clearly personify the brand. In case of both Dew and Mirinda, the attitude towards the brands largely depends on the attitude of the consumer towards the advertisement in the mass media. Here, the marketer must come up with creative advertisements that creates a liking in the minds of the consumers.
2. Personal Experience Consumers form an attitude towards a product/service by the

direct experience of trying and evaluating it. In the above case, direct experience of consumption of Mountain Dew and Mirinda is to do with the taste of the drink complemented by the experience of the colors and design used in the packaging of the bottles. Also availability of the brand in a retail store when consumer asks for it helps in attitude formation. Here, the implication for the marketer is to maintain consistency of imagery shown via mass media & packaging and maintaining the availability of the product in the market across various channels.
3. Friends Young consumers also form attitude towards Dew and Mirinda on basis of

the attitudes of their friends. Here, marketer cant really do much to ensure this
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source of influence is in favor of its brand but to take care of the above two sources of influence.

3) Consumer learning
Kelloggs Corn Flakes was a failed product for a long time due to poor consumer learning. Kellogg positioned itself as a healthy breakfast alternative for heavy traditional Indian breakfast. With a huge segment of population as overweight, Kellogg was the right product at the right time but the Indian consumers did not get the Kellogg fever. Samsung Galaxy Tab is a big success in India partially due to the Tablet boom globally after Apple Ipads launch into the industry. But a significant part of its success can be attributed to consumer learning. The consumers were quick to learn about the attributes and value offered by Galaxy Tab at the given Price point which was much lower than that of Ipad.

4) Child learning
A child learns by observing the environment including parents, family & friends and today a lot because of mass media and Internet exposure. Today, children learn about products online. My nine year old niece plays online community games on a website called Girls Sense where she dresses and does wardrobe designing for her virtual consumers. The result of this is that she has already started taking choices as to what she will wear. She tells her mother that pink color is too girly for a party and black is the ideal color with a dangler in ear. This is how her learning as a clothing consumer has happened and she clearly communicates her choices to her parents. She thinks Hana Montana is the most intelligent and good looking girl on earth and follows her relentlessly. Any product that Hana Montana uses or endorses is successful for her and any product she doesnt is a failure. So, television teen artists are serious influences to growing kids.

5) Subculture
Successful brand We have chosen Oh! Calcutta as a successful brand targeting a sub-culture. AS the name suggests, it targets sub-culture based on language and region; Bengalis or people who take pride in being natives of the football crazy city Kolkata.
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The core consumer insight which marks the success of Oh! Calcutta is that Bengalis take a lot of pride in their cuisine and are very choosy about their food. The restaurant took this consumer insight to fill the gap of a restaurant that offers authentic traditional Bengali food. One could find a Punjabi, South Indian, Malwani or a Gujarati food anywhere, but there was a gap for Bengali food. Oh! Calcutta is an ode, a celebration to the romantic city of Calcutta and its gastronomic delights. It offers a diverse and traditional fare of authentic Bengali cuisine that is reminiscent of Kolkata as it once was. The cuisine at Oh! Calcutta is, of course, quintessential Bengali. Their chefs regularly source rare ingredients from Kolkata, visiting small hamlets in search of a unique dish. The whole point of the exercise is to consistently surprise the palate to ensure a constant stream of unique experiences. Festive season Ad http://www.youtube.com/watch?v=ucX8xCOU4qw The above Ad is a Peter England Ad shown in 2010 on the occasion of Onam in Kerala. The message content in the Ad was subtly customized for Onam by adding a contemporary sounding traditional Malyali sound track in the background targeting the young professionals for their special Onam collection. Also, they used Chennai Super Kings players as the celebrity endorsers in the Ad to get that local connect. The medium was Television via TVC. The intent was to inform the TG about their latest Onam collection.

PART B

Parquets Article Review

1-Advertising & consumer behaviour This paper epitomizes the substance of advertising on the purchasing behavior of the consumers. Likeability, persuasiveness and brand personality created by the advertisement are the key factors which weight the intentions of the consumers regarding the brand and the purchasing behaviour. With more ad likeability the purchase behavior will be strongly influenced. A creative and well executed ad has the power to persuade the consumers regarding their purchase decisions and behavior. Similarly brand personality created in the ad has a direct impact on the purchasing behavior of the buyer because the users relate the brand dimensions with their own personality traits. Therefore the paper concludes that the positive impact of all these dynamics on the buying behavior of the consumer actually
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escorts towards consumer brand loyalty which is the main dimension of getting competitive lead in this dynamic era. 2-Retail music & consumer behaviour The goal of the present empirical research was to study the effects atmospheric music in retail organizations on consumer evaluative and behavioral responses. Specifically, the effects of how background music fit with the retail image are examined in two retail formats, and music effects contrasted between retail stores with planned and unplanned atmospheric music. Based on the existing body of theoretical and empirical, five research hypotheses are developed and subsequently tested using field data. Data of adult shoppers are analyzed via Structural Equation Modeling. Findings reveal insightful implications for the management of retail branding and for future research on in-store music effects.

PART C

INDEX
Sr. No. Introduction 1. 1.1 Tanishq profile About The Research 1.2 Purpose Of The Research 1.3 Problem Of The Research 1.4 Objective Of The Research 1.5 Limitations Of The Research
1.6 Hypothesis Of The Research

Topic

Sample 2. 2.1 Sampling Frame

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2.2 Sampling Unit 2.3 Sample Size 2.4 Sample Size Selection Research Methodology 3. 3.1 Research Tools 3.2 Exploratory Research Questionnaire Survey 4. 5. Detailed Findings 6. 7. Recommendation & Conclusion Bibliography 4.1 Descriptive Research

1) INTRODUCTION 1.1 TANISHQ PROFILE

Evolution of Tanishq Titan came into existence in July 1984, when the Tata Group joined hands with the Tamil Nadu Industrial Development Corporation (TIDCO) to make a foray into the watch industry.
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Titan started manufacturing jewellery watches and jewellery in 1994. It set up its fully integrated Rs. 400 million-jewellery plant in Hosur. The plant had the capacity to manufacture four tonnes of gold in a year. Titan launched these products under the brand name of Tanishq, in 1995. The name Tanishq, a blend of two words, 'tan' (body) and 'ishq' (love), was coined by Xerxes Desai, the Vice-Chairman and Managing Director of Titan. To change its image from a watch manufacturer to a fashion accessories manufacturer, Titan was renamed Titan Industries Ltd. in 1995. Titan scaled the capacity of its Hosur plant to 4.18 million units in 1996 to meet the domestic and international demand. From the late 1990s, Titan's commitment to the jewellery business increased. When Titan launched Tanishq in 1995, the jewellery industry in India valued at Rs 40,000 crore was mostly unorganized, with around 3.5 lakh players. Before 1992, only the Metal and Mineral Trading Corporation and the State Bank of India were allowed to import gold. In 1992, as part of economic liberalization, the government abolished the Gold Control Act of 1962, allowing free import of gold. In 1993, private companies were allowed to enter the hitherto restricted gold and diamond mining industry. Foreign investors were allowed to hold up to 50% equity in mining ventures.

SWOT ANALYSIS

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STRENGTH

Purity (karat meter) Distribution network and retailing store Award winning designs diversity in jewellery gold/diamond/platinum Competitive prices

Distribution network and retailing store are in place for the company with 130 stores countrywide. Mind boggling/award winning designs have come for the company. Diversity in jewellery gold/diamond/platinum enhances the product range of the company. We also have competitive prices for the entire product ranges as compared to the competitors.

WEAKNESS

Capture Rs 70,000-crore Escalated gold costs lower margins THREATS Competition Lack of Skilled workers Gold not seen as s source of investment. (Luxury is needed). Purity of jewellrey through karat meter is still the sign of total purity.

Distribution network and retailing store are in place for the company with 130 stores countrywide. Mind boggling/award winning designs have come for the company. Diversity in jewellery gold/diamond/platinum enhances the product range of the company. We also have competitive prices for the entire product ranges as compared to the competitors. Capture Rs 70,000-crore Indian jewellery market. Tanishq comprises a small share of the overall Rs 70,000-crore Indian jewellery market and hence it needs to increase its market share in this huge industry. Escalated gold costs has caused lower margins is to push sales as much as possible.

OPPORTUNITIES
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Global markets like USA needs to be looked at. Low cost and easy to wear jewellery should be further promoted. Customized jewellery designs should provided to the customers. Concentrate on GenX by having trendy jewellery. Expand retail stores in India to further increase reach.

THREATS

Competition from local jewellers all over India. Lack of Skilled workers in jewellery industry. Gold is no longer seen as source of investment. People are more concerned about design and luxury.

THREE MAJOR PRODUCTS OF TANISHQ IN GOLD Zoya Secrets of the Egyptian pharaohs masked with the mystery of the comos; Oriental art embellished with occidental architecture Fashion Earrings

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The Fashion earring collection; has a ranged of over 300 exclusive designs

Wedding Collection

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 The bride blushes

ABOUT THE RESEARCH 1.2 THE PURPOSE OF THE RESEARCH The basic purpose of this research is to find the buying behaviour of people of Mumbai toward gold.
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1.3 PROBLEM To find out problem is the first stage of the research process. It represents translating the management problem into research problem. It is right said, A problem well defined is half solved. Tanishq is one of the store who provides branded gold & have brand name. Inspite of product quality , services tanishq provides why do still prefer buying gold from local retailers. 1.4 OBJECTIVES

The objectives of the study are as follows: 1) The objective of study was to find the actual reason why people are not going to Tanishq 2) To find what they like & dislike about Tanishq. 3) On the basis of in depth interview we got 6 criteria in which we could measure the attitude of people towards Tanishq.

1.5 LIMITATIONS
1. The survey was conducted within the limited time frame ;so few shortcoming may be

expected. 2. The respondents personal bias may be another factor, which is uncontrollable. is difficult to find the euthenics be true, so we are assuming them to be true.
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3. The finding of the survey is strictly based on the responses of the respondents. It

4.

It was very difficult to explain the respondents about how to fill the questionnaire & it took time for data collection.

1.6 Hypothesis
1. Price does not affect the buying of gold.

2. Quality of gold does not effect the buying of gold 3. Service does not effect the buying of gold 4. Pattern does not effect buying of gold
5. Location of store does not effect buying behaviour of gold. 6. Ambiance of store effect buying behaviour of gold.

VIEW ABOUT THE TOPIC 2) SAMPLE 2.1 SAMPLING FRAME:

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A Sampling frame consists of a list of item from which the sample is to be drawn. The sample frame for this research constitutes all the customers who have visited Tanishq store for purchasing gold. 2.2 SAMPLING UNIT: A decision has to be taken concerning a sampling unit before selecting sample sampling unit may be a geographical one, a construction unit, a social unit or it may be an individual. The sample unit for this research constitutes the organization that is Tanishq only dealer in Mumbai 2.3 SAMPLE SIZE The sample size of our research was 150 but only 121 people have visited tanishq store. 2.4 SAMPLE SIZE SELECTION Sample size was selected on the basis of the 3 factors. a) It was difficult to locate the customer who have visited to tanishq. b) The respondents were not much educated so it was difficult to make them understand about the questionnaire. c) People were not easily available outside Tanishq.

3) RESEARCH METHODOLOGY 3.1 Research tool used for the research PRIMARY DATA
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In primary data the following research design is being followed: i) Exploratory Research:

Questionnaire Survey (Sample Size 150) ii) Descriptive Research: On the basis of the questionnaire survey, the analysis is done in order to find out the reason why people are not visiting Tanishq.

a) Exploratory research Exploratory research because we were not knowing the actual problem faced by tanishq. So for that we did an In-depth interview of 3 person to find what are the major findings & difficulties are faced by them.

We did Interview ofMr. Abhishek Sinha, who is the senior sales manager of tanishq of Mumbai Region

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In the interview we asked him diffrent question regarding the sales & their way of operation & different aspects about tanishq. From the answers given by Mr Abhishek we found that major reason why people are not turning out towards Tanishq is because of Price a bit higher & pattern availability in tanishq . He also told us the major reason why people are coming to tanishq is the quality of gold & services provided by them. He also said that people who loves the ambiance of store may affect the buying decision. Then we interviewed , Mr. Azad, the owner of Payal jwellers of suburb & we asked him the same questions what we asked Mr.Abhishek We found that, a) Major people who buy gold from there are their regular customers from long time b) The people have trust on the purity of gold c) He also said that people are having bad experience of going to tanishq as the price of gold is more than what they are paying to normal retailers. d) He also said that people of Mumbai are more price councius & not quality concius. e) He also said that patterns which are available with them are the same or much more compared to tanishq people.

From the detailed interview of these 2 people we thought that major reasons which can effect the purchase decision of people buying gold are:

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1) Price 2) Quality 3) Service 4) Availability of pattern 5) Proximity to market 6) Ambiance of store

5) DETAILED FINDINGS

OVER ALL SAMPLE SIZE The sample was 150 but out of which 29 people did not went to Tanishq for buying of gold. So our sample size came to 121.

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(These were the people who said they have earlier visited Tanishq & again gone for repurchase.) SEGMENTATION ACCORDING TO GENDER Out of 121 there were 65 female that constitute 54% of total sample & rest are male they are 56 which contributes 46% of total sample ANNUAL INCOME OF RESPONDENTS The respondents average income lies from 5000 to 30000 & above so respondents were a) 5000 10000 = 6 b) 10000 20000 = 11 c) 20000 30000 = 18 d) 30000 & above = 86

HYPOTHESIS TESTING X2 = (o-e)2/ e 1) Price does not affect the buying of gold.
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Price Particular 1 2 3 4 5 Total

1 3 8 1 0 0 12

2 12 15 0 0 0 27

3 11 31 6 1 0 49

4 4 12 7 1 1 25

5 0 0 4 2 2 8

Total 30 66 18 4 3 121

Observed 3 12 11 4 0 8 15 31 12 0 1 0 6 7 4 0 0 1 1 2 0 0 0 1 2 Total

Expected 2.97 6.69 12.14 6.19 1.98 6.54 14.72 26.2 13.63 4.36 1.78 4.01 7.28 3.71 1.19 0.39 0.89 1.61 0.82 0.26 0.29 0.66 1.21 0.61 0.19

o-e 0.03 5.31 -1.14 -2.19 -1.98 1.46 0.28 4.8 -1.63 -4.36 -0.78 -4.01 -1.28 3.29 2.81 -0.39 -0.89 -0.61 0.18 1.74 -0.29 -0.66 -1.21 0.39 1.81

(o-e)^2 0.0009 28.1961 1.2996 4.7961 3.9204 2.1316 0.0784 23.04 2.6569 19.0096 0.6084 16.0801 1.6384 10.8241 7.8961 0.1521 0.7921 0.3721 0.0324 3.0276 0.0841 0.4356 1.4641 0.5121 3.2761

((o-e)^2)/e) 0.000303 4.214664 0.107051 0.774814 1.98 0.325933 0.005326 0.879389 0.19493 4.36 0.341798 4.01 0.225055 2.917547 6.635378 0.39 0.89 0.231118 0.039512 11.64462 0.29 0.66 1.21 0.249344 17.24263 59.8194

The hypothesis of these question is that the price does not effect the buying behavior of consumer that is Ho. So from the calculation we got the value of Ho as 59.8149

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So when compared to tabulated value of the number that is (r-1)*(c-1) gives us the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom.

The value for the 16 is 26.3 So Ho>H1 so hypothesis is rejected.

2) Quality of gold does not effect the buying of gold quality particular 1 2 3 4 5 Total

1 3 1 2 6 0 12

2 2 4 10 9 2 27

3 2 5 20 18 4 49

4 0 2 11 8 4 25

5 0 0 3 5 0 8

total 7 12 46 46 10 121

Quality of gold observed 3 2 2 0 0 1 expected 0.69 1.56 2.83 1.44 0.46 1.19 o-e 2.31 0.44 -0.83 -1.44 -0.46 -0.19 2(o-e) 5.3361 0.1936 0.6889 2.0736 0.2116 0.0361 2(o-e)/e 7.733478 0.124103 0.243428 1.44 0.46 0.030336
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4 5 2 0 2 10 20 11 3 6 9 18 8 5 0 2 4 4 0

2.67 4.85 2.47 0.79 4.56 10.26 18.62 9.5 3.04 4.56 10.26 18.62 9.5 3.04 0.99 2.23 4.04 2.06 0.66

1.33 0.15 -0.47 -0.79 -2.56 -0.26 1.38 1.5 -0.04 1.44 -1.26 -0.62 -1.5 1.96 -0.99 -0.23 -0.04 1.94 -0.66

1.7689 0.0225 0.2209 0.6241 6.5536 0.0676 1.9044 2.25 0.0016 2.0736 1.5876 0.3844 2.25 3.8416 0.9801 0.0529 0.0016 3.7636 0.4356

0.662509 0.004639 0.089433 0.79 1.437193 0.006589 0.102277 0.236842 0.000526 0.454737 0.154737 0.020644 0.236842 1.263684 0.99 0.023722 0.000396 1.82699 0.66 18.99311

The hypothesis of these question is that the Quality does not effect the buying behavior of consumer that is Ho. So from the calculation we got the value of Ho as 18.99311 So when compared to tabulated value of the number that is (r-1)*(c-1) gives us the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho<H1 so hypothesis is Not Rejected. So Quality does matter in buying gold.

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3) Service does not affect buying behavior of consumer. Particular 1 2 3 4 5 Total 1 0 1 1 6 4 12 2 0 0 6 15 6 27 3 1 0 5 33 10 49 4 0 0 8 10 7 25 5 0 0 1 6 1 8 Total 1 1 21 70 28 121

Service Observed 0 0 1 0 0 1 0 0 0 0 1 6 5 8 1 6 15 33 10 6 4 6 Expected 0.09 0.22 0.4 0.2 0.06 0.09 0.22 0.4 0.2 0.06 2.04 4.68 8.5 4.33 1.3 6.94 15.62 18.35 14.46 4.63 2.78 6.25 o-e -0.09 -0.22 0.6 -0.2 -0.06 0.91 -0.22 -0.4 -0.2 -0.06 -1.04 1.32 -3.5 3.67 -0.3 -0.94 -0.62 14.65 -4.46 1.37 1.22 -0.25
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(o-e)^2 0.0081 0.0484 0.36 0.04 0.0036 0.8281 0.0484 0.16 0.04 0.0036 1.0816 1.7424 12.25 13.4689 0.09 0.8836 0.3844 214.6225 19.8916 1.8769 1.4884 0.0625

((o-e)^2)/e) 0.09 0.22 0.9 0.2 0.06 9.201111111 0.22 0.4 0.2 0.06 0.530196078 0.372307692 1.441176471 3.110600462 0.069230769 0.127319885 0.024609475 11.69604905 1.375629322 0.40537797 0.535395683 0.01

10 7 1

11.34 5.79 1.85

-1.34 1.21 -0.85

1.7956 1.4641 0.7225

0.158342152 0.252867012 0.390540541 32.05075367

The hypothesis of these question is that the service does not effect the buying behavior of consumer that is Ho. So from the calculation we got the value of H0 as 32.0813 So when compared to tabulated value of the number that is (r-1)*(c-1) gives us the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho>H1 so hypothesis is rejected. So service does matter in buying gold.

4 ) Pattern does not effect effect buying behavior of consumers. Particular 1 1 0 2 2 3 4

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4 0

5 0

Total 6

2 3 4 5 Total

5 3 3 1 13

7 11 6 1 27

16 16 4 9 49

8 7 6 4 25

3 2 1 1 7

39 39 20 17 121

Observed 0 2 4 0 0 5 7 16 8 3 3 11 16 7 2 3 6 4 6 1 2 1 9 4 1

Expected 0.65 1.34 0.45 1.25 0.35 4.19 8.7 2.9 8.06 2.26 4.19 8.7 2.9 8.06 2.26 2.15 4.46 1.49 4.13 1.12 1.83 3.79 1.26 3.51 0.98

o-e -0.65 0.66 3.55 -1.25 -0.35 0.81 -1.7 13.1 -0.06 0.74 -1.19 2.3 13.1 -1.06 -0.26 0.85 1.54 2.51 1.87 -0.12 0.17 -2.79 7.74 0.49 0.02

(o-e)^2 0.4225 0.4356 12.6025 1.5625 0.1225 0.6561 2.89 171.61 0.0036 0.5476 1.4161 5.29 171.61 1.1236 0.0676 0.7225 2.3716 6.3001 3.4969 0.0144 0.0289 7.7841 59.9076 0.2401 0.0004

((o-e)^2)/e) 0.65 0.325074627 28.00555556 1.25 0.35 0.156587112 0.332183908 59.17586207 0.00044665 0.242300885 0.33797136 0.608045977 59.17586207 0.139404467 0.029911504 0.336046512 0.531748879 4.228255034 0.846707022 0.012857143 0.01579235 2.053852243 47.54571429 0.068404558 0.000408163 206.4189924

The hypothesis of these question is that the pattern does not effect the buying behavior of consumer that is Ho. So from the calculation we got the value of Ho 206.4282

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So when compared to tabulated value of the number that is (r-1)*(c-1) gives us the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho>H1 so hypothesis is rejected. So it has been analyzed that Tanishq has good variety of pattern.

5) Proximity does not affect buying of gold. Particular 1 2 3 4 5 Total 1 2 2 4 3 1 12 2 0 2 6 7 12 27 3 6 3 18 14 8 49 4 2 0 8 9 6 25 5 0 1 4 1 2 8 Total 10 8 40 34 29 121

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Observed 2 0 6 2 0 2 2 3 0 1 4 6 18 8 4 3 7 14 9 1 1 12 8 6 2

Expected 0.99 2.23 3.88 2.07 0.67 0.79 0.79 3.11 1.65 0.53 3.97 8.93 15.54 8.27 2.64 3.37 7.59 13.21 7.02 2.25 2.88 6.47 11.26 5.99 1.92

o-e 1.01 -2.23 2.12 -0.07 -0.67 1.21 1.21 -0.11 -1.65 0.47 0.03 -2.93 2.46 -0.27 1.36 -0.37 -0.59 0.79 1.98 -1.25 -1.88 5.53 -3.26 0.01 0.08

(o-e)^2 1.0201 4.9729 4.4944 0.0049 0.4489 1.4641 1.4641 0.0121 2.7225 0.2209 0.0009 8.5849 6.0516 0.0729 1.8496 0.1369 0.3481 0.6241 3.9204 1.5625 3.5344 30.5809 10.6276 1E-04 0.0064

((o-e)^2)/e) 1.03040404 2.23 1.158350515 0.00236715 0.67 1.853291139 1.853291139 0.003890675 1.65 0.416792453 0.0002267 0.961354983 0.389420849 0.008814994 0.700606061 0.040623145 0.045862978 0.047244512 0.558461538 0.694444444 1.227222222 4.726568779 0.94383659 1.66945E-05 0.003333333 21.21642494

The hypothesis of these question is that the proximity does not effect the buying behavior of consumer that is Ho. So from the calculation we got the value of Ho as 21.21 So when compared to tabulated value of the number that is (r-1)*(c-1) gives us the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho<H1 so hypothesis is Not Rejected.

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6) Ambiance does not affect buying behavior of gold.

particular 1 2 3 4 5 total

1 1 0 5 3 4 13

2 2 6 9 9 1 27

3 0 6 11 17 14 48

4 4 2 6 8 5 25

5 1 0 2 11 4 18

total 7 12 33 48 28 121

observed 1 1 0 4 1 0 2 6

expected 0.75 1.56 2.78 1.45 0.46 1.07 2.23 3.97

o-e 0.25 -0.56 -2.78 2.55 0.54 -1.07 -0.23 2.03

2(o-e) 0.0625 0.3136 7.7284 6.5025 0.2916 1.1449 0.0529 4.1209

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2(o-e)/e 0.083333 0.201026 2.78 4.484483 0.633913 1.07 0.023722 1.03801

2 0 5 6 11 6 2 3 9 17 8 1 4 9 14 5 4

2.07 0.66 3.22 6.69 11.9 6.2 1.98 4.08 8.48 15.07 7.85 2.51 3.87 8.03 14.28 7.44 2.38

-0.07 -0.66 1.78 -0.69 -0.9 -0.2 0.02 -1.08 0.52 1.93 0.15 -1.51 0.13 0.97 -0.28 -2.44 1.62

0.0049 0.4356 3.1684 0.4761 0.81 0.04 0.0004 1.1664 0.2704 3.7249 0.0225 2.2801 0.0169 0.9409 0.0784 5.9536 2.6244

0.002367 0.66 0.983975 0.071166 0.068067 0.006452 0.000202 0.285882 0.031887 0.247173 0.002866 0.908406 0.004367 0.117173 0.00549 0.800215 1.102689 15.61287

The hypothesis of these question is that the proximity does not effect the buying behavior of consumer that is Ho. So from the calculation we got the value of Ho as 15.61 So when compared to tabulated value of the number that is (r-1)*(c-1) gives us the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho<H1 so hypothesis is Not Rejected. The above charts gives us the detail of people who visits Tanishq for repurchase.

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Questionnaire

Q 1 ) Name:Q 2) Gender Q 3) Age :Q 4) Occupation: - Service

male

female Business Others

Q 5) Monthly average INCOME(in Rs)? 5000-10000 10000-20000 20000-30000 30000 & above Once a month Once a year On Occasion

Q 6) How often you visit jewellery store?

Q 7) You Buy GOLD jewellery from? Place : Andheri Khar

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Store Name:

Malad Bandra

Q 8) Do you buy jewellery from same store every time ? Yes No

Q 9) Rate your jewellery store from 1 to 5 where 1 is the WORST & 5 is the BEST on the following guidelines

Product are worth price you pay Purity & quality of gold The service you get in the store The Number of patterns available Proximity to market Ambiance of Store

Q 10) Are You aware about tanishq showroom opened in Mumbai? Yes No

Q 11) How did you come to know about Tanishq? TV News Paper Hoardings Pamphlets Friends/relatives Other

Q 12) Have you visited Tanishq Store?

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Yes No

Q 13) Rate Tanishq On flowing Criteria Given below Particulars Price Purity & Quality of Gold Service Offered Patterns Available Location of Store Ambiance of store V.Good Good Average Bad V.bad

Q 14) During Re-Purchase you often go to Tanishq? Yes No

Q 15) Would you recommend others for Buying Tanishq Products? Yes No

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Interpretation

Q 8) Do you buy jewellery from same store every time ? Yes No

37

Q 10) Are You aware about tanishq showroom opened in Mumbai? Yes No

Q 11) How did you come to know about Tanishq?

TV News Paper Hoardings Pamphlets Friends/relatives Other

- 30 - 12 - 07 - 02 - 38 - 32

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Q 12) Have you visited Tanishq Store? Yes No

Q 13) Rate Tanishq On flowing Criteria Given below Particulars Price Purity & Quality of Gold Service Offered Patterns Available Location of Store Ambiance of store V.Good Good Average Bad V.bad

Q 14)When to repurchase would you wish to go to Tanishq again? Yes

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No

Q 15) Would you recommend others for Buying Tanishq Products? Yes No

FINDINGS

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On the basis of chi-square test the relation between the variables are significant & few are not significant. Variables which were significant in the research & which affects the buying behavior of gold area) Because of price people are not visiting Tanishq. b) People are happy with the quality of Tanishq & they go to Tanishq only because the purity & quality of gold. c) The people also visit Tanishq because they provide better services then the other retailers. d) The pattern are also major factor because of which people does not prefer Tanishq. e) The people says that the location of store is not affecting them to visit Tanishq. f) People are not affected by the ambiance of store From these we can conclude that people are more sencisitve towards price , Quality & availability of pattern. If they find these 3 things ok & they fill that this is what they wanted they will buy from there only. For people of Mumbai ambiance , proximity to market & service are less important.

6) Recommendation & Conclusion 41

RECOMMENDATION We would recommend Tanishq following things a) The making charge is affecting their sales so they should cut down their prices. b) The patterns are comparative less so they should provide more number of patterns & also should increase their market share by bringing more innovative scheme & loyalty programs. c) People are more service conscious so they can target young business man & young professional as they are now more in investing money in gold. d) Gold price are increasing day by day so they should increase their sales by selling biscuits of gold rather than selling more of ornaments. CONCLUSION People are more price conscious & they feel that the price in Tanishq are more than what the normal retailers have. They also feel that the quality they get is much higher than the quality what the normal retailers give. They also found that the patterns available are lesser than what they get in the normal retail store. They also are service oriented so they are more attracted because of service they get. People are not affected with the ambiance of the shop.

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7) Bibliography

Web Sources
1) www.tanishq.co.in/ 2) www.tanishq.co.in/sitemap 3) www.tanishqsoftware.com/CompanyProfile.php 4) www.superbrandsindia.com/images/brand.../tanishq/tanishq.htm 5) www.wand.com/core/companyprofile.aspx?mfgcode=50635670

Book referred

1) Marketing Research by Rajendra Nargundkar

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