Brand Awareness and Perception towards Branded Jewellery Essay

The gems and jewelry industry occupies an important position in the Indian economy and is wiz of the fastest growing industries in the country. In the late 1990s, the Indian jewellery foodstuff witnessed a shift in consumer intuitions of jewellery. Apart from its historical spectral significance, Jewellery is valued as an important savings and investment vehicle in India. Even in demo times, Jewellery remains the Indian brides Streedhan, the wealth she takes with her when she marries and which remains hers. Gold jewellery is the preferred jewellery worn by women in India irrespective of their phantasmal beliefs. In marriages, specious jewellery is the gift preferred by the near relatives of the bride and the groom. Jewellery is very(prenominal) popular among farmers, with an upsurge in bullion sales after a good agricultural season. Buying of capital is an important part of all(prenominal) stage of an Indian citizens life at birth, marriage, construction of home, festiva ls, religious ceremonies, setting up of new business, and death.Instead of being regarded as moreover an investment option, jewellery was being prized for its aesthetic appeal. In other words, the rivet seemed to have shifted from content to design. Trendy, affordable and lightweight jewellery soon gained familiarity. mark jewellery in addition gained acceptance forcing traditional Jewellers to go in for branding. As India makes rapid progress in the retail argonna, the Indian Jewellery market is undergoing a gradual metamorphosis from unorganised to organised formats. Jewellery retail is moving from a storehouse of value to a precious devise accessory. Plain gold is gradually easing its stranglehold 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. However branded jewellery players allow continue to face lot of competition from local jewellers. In order to gain market sha re, they depart have to come up with designs that customers want and win the trust and confidence of consumers by hallmarking and demonstrating the purity of the gold used by them. To compete with traditional players, branded players must(prenominal) also find some way to oppositeiate themselves. While the success of a particular brand depart depend on differentiation, affordability and quality will be a key elementin sustaining a brand. The present study will help us to understand the brand sentience and erudition of the customers towards MALABAR GOLD jewellery in Bangalore.3. STATEMENT OF THE PROBLEMIn the emerging spotledge based economy it has become necessary to know how much market power lies with the brand name. Awareness and Perception are the two key metrics that any company would use to musical rhythm their brand strength. The study of brand awareness and perception is essential in marketing planning. Customer needs and preferences keep changing where brands ultim ately want customers loyalty. Without brand awareness occurring, no other communication effects can occur. For a consumer to buy a brand they must first be made aware of it. Brand attitude cannot be formed, and intention to buy cannot occur unless brand awareness has occurred. Brand perception is created by consumer experience with the brands product or service. In other words, perception is the values consumers attach to a brand.After the barter for of specialty goods or shopping goods, the customer exhibits post purchase behaviour. It whitethorn be either cognitive uniformity or cognitive dissonance. The consonance leads to dissatisfaction. But when it comes to customers going in postgraduate value premium particle goods such as gold, diamond and platinum ornaments, in a mellowed competitive with too many players in the market, then the customer sure as shooting has a wide range of choice to choose from and carefully evaluates the different showrooms before making a purcha se decision. In such a situation, any purchase dissonance will lead to very high degree of dissatisfaction, which may also lead to spreading negative whimsy to the prospective buyer of jewellers outlet. Hence a look into is undertaken to understand the brand awareness and perception towards branded jewellery with specific reference to Malabar Gold and Diamonds, Bangalore.4. OBJECTIVES OF STUDY primeval accusiveThe main objective of the study is to determine the level of brand awarenessand brand perception of Malabar Gold Jewellery, and the use of it as a measure to increase the marketing effectiveness of Malabar Brand Jewellery.Secondary objectivesi. To compare the customer preference surrounded by the branded and non branded jewellery ii. To understand the parameters the customers consider while buying jewellery iii. To know how brand preference is formed in purchasing Malabar Gold jewellery among customers iv. To measure the level of satisfaction of customers of Malabar Gold v. To take apart the marketing strategies of Malabar Gold with regard to brand awareness and perception5. look for DESIGNTYPE OF RESEARCHThe study will be descriptive in naturePOPULATIONCustomers buying gold in Bangalore citySAMPLE SIZEThe sample for the study would be limited to cv respondents.SAMPLING UNITFor this study the respondents will be the customers buying gold and diamond jewelleryTYPE OF SAMPLINGSimple random have method will be used for the study.TOOLS OF DATA COLLECTIONPrimary dataPrimary data will be collected development a structured questionnaire as well as personal oppugn method. Secondary dataThe secondary data for this work will be obtained from company magazines and brochures, website, newspapers, internet, text books, reports and otherpromotional materials.HYPOTHESES STATED FOR THE STUDY dead reckoning 1Null supposal (H0) Gender of customers and preference for branded and non-branded jewellery is independent. Alternative Hypothesis (H1) Gender of custom ers and preference for branded and non-branded jewellery is independent. Hypothesis 2Null Hypothesis (H0) Marital Status of customers and purchase of jewellery is independent. Alternative Hypothesis (H1) Marital Status of customers and purchase of jewellery is dependent. platform OF ANALYSISThe data collected from various sources will be tabulated and stand for using the percentage and ranking method. Graphical tools like bar diagrams, pie charts etc., will be used to illustrate the tabulated data pictorially. Inferences and interpretation of the data will be done on the basis of tabulated data. In both Hypotheses 1 and 2, the null hypotheses will be tested using Chi-Square test for independency of attributes at 5% level of significance.6. PROPOSED CHAPTER SCHEMEa. Introductionb. Review of literary works & Research Designc. Profile of Industry/Business/Selected Organisationsd. Results, Analyses and Discussionse. Summary of Findings, Conclusions and Recommendations.