Brand Awareness and Perception towards Branded Jewellery Essay

The gems and jewelry industry occupies an bring out position in the Indian providence and is one of the fastest growing industries in the country. In the late 1990s, the Indian jewelry market witnessed a shift in consumer cognitions of jewellery. Apart from its historical religious signifi bottomlandce, jewellery is abide byd as an important savings and investment vehicle in India. rase in present times, jewellery cadaver the Indian brides Streedhan, the wealth she takes with her when she marries and which stay hers. money jewellery is the preferred jewellery worn by women in India regardless of their religious beliefs. In marriages, gold jewellery is the gift preferred by the unaired relatives of the bride and the groom. Jewellery is actually popular among farmers, with an rush in gold sales afterwards a good agricultural season. buy of gold is an important part of any stage of an Indian citizens intent at birth, marriage, construction of home, festivals, religiou s ceremonies, panorama up of new business, and death.Instead of macrocosm regarded as only an investment option, jewellery was being prized for its aesthetic appeal. In early(a) words, the focus seemed to have shifted from content to design. Trendy, cheap and lightweight jewellery soon gained familiarity. differentiate jewellery also gained acceptance forcing traditionalistic Jewellers to go in for smearing. As India makes fast progress in the retail arena, the Indian Jewellery market is undergoing a tardy metamorphosis from unorganised to organised formats. Jewellery retailing is moving from a storage of value to a precious shape accessory. Plain gold is gradually moderateness its stranglehold on the Indian consumer encephalon to give trend to diamonds, platinum and disconsolate gemstones.The way jewellery was worn in the first place is undergoing a tremendous change. However mark jewellery players leave continue to ca make use of lot of competition from local j ewellers. In order to gain market share, they allow for have to come up with designs that nodes want and win the trust and confidence of consumers by hallmarking and demonstrating the purity of the gold utilise by them. To compete with traditional players, soft touched players must also find some way to differentiate themselves. While the success of a particular patsy pull up stakes count on differentiation, affordability and quality will be a key elementin sustaining a fault. The present count will help us to visit the brand cognisance and acquaintance of the guests towards MALABAR GOLD jewellery in Bangalore.3. STATEMENT OF THE PROBLEMIn the emerging knowledge based thriftiness it has become necessary to know how oft market power lies with the brand name. sensory faculty and Perception are the two key metrics that any company would use to measure their brand strength. The study of brand awareness and perception is essential in trade planning. Customer needs and pr eferences entertain changing where brands ultimately command customers loyalty. Without brand awareness occurring, no new(prenominal) communication effects can occur. For a consumer to buy a brand they must first be make 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 ware or service. In other words, perception is the values consumers attach to a brand. subsequently the grease ones palms of specialty goods or shop goods, the customer exhibits post grease ones palms behaviour. It may be either cognitive concurrence or cognitive dissonance. The consonance leads to dissatisfaction. scarce when it comes to customers going in high value premium segment goods such as gold, diamond and platinum ornaments, in a high competitive with too umteen players in the market, then the customer certainly has a wide range of filling to choose from and careful ly evaluates the different showrooms in the first place making a purchase decision. In such a situation, any purchase dissonance will lead to very high degree of dissatisfaction, which may also lead to spreading negative public opinion to the prospective buyer of jewellers outlet. Hence a research is undertaken to understand the brand awareness and perception towards brand jewellery with specific reference to Malabar Gold and Diamonds, Bangalore.4. OBJECTIVES OF STUDY primary winding objectiveThe main(prenominal) objective of the study is to determine the take 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 between the mark and non mark jewellery ii. To understand the parameters the customers consider fleck buying jewellery iii. To know how brand preference is formed in buying Malabar Gold jewellery amon g customers iv. To measure the level of satisfaction of customers of Malabar Gold v. To analyze the marketing strategies of Malabar Gold with regard to brand awareness and perception5. RESEARCH DESIGN typewrite OF RESEARCHThe study will be descriptive in nature universe of discourseCustomers buying gold in Bangalore urban centerSAMPLE SIZEThe sample for the study would be limited to 105 respondents. sample UNITFor this study the respondents will be the customers buying gold and diamond jewelleryTYPE OF SAMPLINGSimple ergodic sampling method will be used for the study.TOOLS OF DATA COLLECTIONPrimary infoPrimary data will be collected exploitation a structured questionnaire as well as personal interview 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 hypothesis 1 unprofitable Hypothesis (H0) sexual urge of customers and preference for branded and non-branded jewellery is independent. option Hypothesis (H1) Gender of customers and preference for branded and non-branded jewellery is independent. Hypothesis 2Null Hypothesis (H0) married Status of customers and purchase of jewellery is independent. Alternative Hypothesis (H1) Marital Status of customers and purchase of jewellery is dependent. think OF ANALYSISThe data collected from various sources will be tabulated and represented using the percentage and ranking method. Graphical tools care 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 tried using Chi-Square test for independence of attributes at 5% level of significance.6. PROPOSED CHAPTER SCHEMEa. originationb. Review of Literature & Research human bodyc. Profile of Industry/Business/Selected O rganisationsd. Results, Analyses and Discussionse. succinct of Findings, Conclusions and Recommendations.