Diamond Jewellery Industry

Study of Consumer Buying Behaviour on Diamond Jewellery Industry

Executive Summary

The Indian gems and jewellery sector is expected to grow at a compound annual growth

rate (CAGR) of around 14 per cent from 2009 to 2012. The Indian gem and jewellery

industry posted 16 percent growth in exports in fiscal year 2009-2010 compared with

the previous year, according to the Gem and Jewellery Export Promotion Council

(GJEPC). The Indian gem and jewellery market is dominated by the unorganised sector.

At present, the domestic diamond market is pegged at Rs 12,000 crore and the total

jewellery market in the country is worth Rs 70,000 crore. According to the CARE report

on the Indian gems and jewellery industry, India dominates the diamond processing

trade with 11 out of 12 diamonds being cut and polished in India. India also dominates

the gold and silver consumption globally with consumption of about 800 tonnes per

annum. The industry provides employment to 1.3 million people. In the global Diamond

market, Indian Diamonds account for 55 percent share in value terms, 80 percent share

in caratege(weight) terms and 90 percent share in volume terms. Today there is an

entire range of Diamond in nearly every size, quality and cut.

The Indian diamond industry has the world's largest cutting and polishing industry,

employing around 800,000 people (constituting 94 per cent of global workers) with

more than 500 hi-tech laser machines. The industry is well supported by government

policies and the banking sector with around 50 banks providing nearly $3 billion of

credit to the Indian diamond industry. The Gems & Jewellery Promotion Council is

India's certification authority. The government's Central Board of Excise and Customs

has banned the import or export of rough diamond shipments, which are not

accompanied by a Kimberley Process certificate launched in Switzerland. Certification

for quality diamonds and jewellery has given a fillip to exports and has resulted in

greater acceptance of Indian products in the world market.

Rizvi Institute of Management Studies & Research


Tanishq is the market leader in the branded Diamond jewellery followed by Gitanjali

Gems Ltd. and Rosy Blue Group. Gem & Jewellery Council has launch brand ‘Anant’

which is a part of its ongoing India Diamond Jewellery Promotion (IDJP) campaign,

whose sole mission is to promote Diamond jewellery trade in India. This apex body of

the gem & jewellery industry has played a significant role in the evolution of the Indian

gem and jewellery industry to its present stature.

There are different segment in Diamond jewellery i.e Diamond perfectly blends with

Ruby, Tahitian, Pearl and Gold. This study gives an overview about the different

segment where Diamond jewellery market in India is concentrated and also helps in

understanding the 4C’s i.e Cut, Colour, Carat, Clarity of the Diamond jewellery.

The report gives insight about the consumer buying behaviour and the factor which

influences it such as cultural factor, social factor, personal factor and psychological

factors. It discusses about the six steps of the consumer buying decision and also

explains the internal and external parameter of the jewellery industry.

From the research conducted by National Jeweller magazine the top ten reasons for why

women wear Diamond jewellery have been highlighted. According to a study conducted

by JCK magazine 67 percent of all jewellery is planned purchase and 33 percent is an

impulse purchase. More than 50 percent of jewellery shopper feels that the product

quality, salesperson’s honesty, service, store reputation and salesperson’s knowledge as

important factor. Less than 50 percent of jewellery shopper feels that store display,

brand name, store location, advertising and store hours as important factor.

The report explains the parameters to consider while buying Diamond jewellery and

explains the different kind of cut which is done on the Diamond. Now it becomes more

important to identify which type of cut for Diamond jewellery should be purchased. Cut

determine how bright the Diamond will shine. For this purpose the grading are done on

the Diamond jewellery and grades are Ideal Cut, Premium Cut, Very Good Cut, Good Cut

and Fair & Poor Cut.



As we can see that Diamond jewellery is growing at higher space and even the recession

could not affect the growth of the diamond jewellery there is a need to study the

consumer buying behaviour in diamond jewellery industry. In the past decade more

than 40 brands of diamond jewellery has been launched by the players in the diamond

market.

The main purpose of conducting this research is to study the preference of the diamond

jewellery over the other jewellery. An attempt has also being made to study their

preference about the different combination of metal and stone with the diamond

jewellery. An effort has also been made to understand the buying pattern and the most

preferred technical feature if the diamond jewellery. Since diamond jewellery industry

is booming the report will also provide the information about what sort of promotion

activity influences the purchases of diamond jewellery and what are the



Table of Contents

Chapter 1: Introduction to Indian Jewellery Market..............................................................................1

1.1 Industry Overview........................................................................................................................1

1.2 Sector Structure/Market Size......................................................................................................3

1.3 Retail Sector.................................................................................................................................5

1.4 Large Market Opportunity...........................................................................................................6

1.4.1 Exports..................................................................................................................................6

1.4.2 Government Initiatives.........................................................................................................8

Chapter 2: Diamond Jewellery Market..................................................................................................9

2.1 Overview of Diamond Jewellery Market in India.........................................................................9

2.1.1 Certification............................................................................................................................10

2.2 Major geographical areas in India were Diamond Market is Concentrated...............................11

2.2.1 Southern Group..................................................................................................................12

2.2.2 Northern Group..................................................................................................................12

2.2.3 Eastern Group.....................................................................................................................13

2.3 Major Players in Diamond Jewellery Industry............................................................................14

2.3.1 Concept Jewellery India Pvt Ltd..........................................................................................16

2.3.2 Fine Jewellery (India) Limited.............................................................................................17

2.3.3 Gem & Jewellery Export Promotion Council.......................................................................18

2.3.4 Gitanjali Gems Ltd...............................................................................................................21

2.3.5 Rosy Blue Group.................................................................................................................22

2.3.6 Sheetal Group of Companies..............................................................................................23

2.3.7 Shrenuj & Company Ltd......................................................................................................24

2.3.8 Tanishq...............................................................................................................................25

2.4 Different segment of Diamond jewellery...................................................................................26

2.5 Technical features of Diamond jewellery...................................................................................26

2.5.1 4C’s of Diamond Jewellery.................................................................................................28

2.5.2 Diamond Anatomy..............................................................................................................31



Chapter 3: Consumer Buying Behaviour..............................................................................................32

3.1 Defining Consumer Buying Behaviour.......................................................................................32

3.1.1Cultural Factors....................................................................................................................32

3.1.2 Social Factors......................................................................................................................32

3.1.3 Personal Factors.................................................................................................................33

3.1.4 Psychological Factors..........................................................................................................33

3.2 Importance of Consumer Buying Behaviour..............................................................................34

3.3 Consumer Buying Behaviour in Jewellery Industry....................................................................36

Chapter 4: Relationship of Consumer Buying Behaviour with Diamond Jewellery Industry................37

4.1 Role of Consumer Buying Behaviour in Diamond Jewellery Industry........................................37

4.1.1 Parameters to consider while buying Diamond Jewellery..................................................39

4.2 Important Attribute of Consumer Buying Behaviour effecting Diamond Jewellery Industry.....43

Chapter 5: Research Methodology......................................................................................................44

5.1 Need & Significance...................................................................................................................44

5.2 Scope.........................................................................................................................................44

5.3 Methodology.............................................................................................................................45

5.4 Research Objectives...................................................................................................................45

5.5 Hypothesis.................................................................................................................................46

5.6 Limitation of the Study..............................................................................................................47

5.6.1 Accuracy of the project.......................................................................................................47

5.6.2 Place of Research................................................................................................................47

5.7 Sources of Data Collection.........................................................................................................48

5.8 Sampling Procedure...................................................................................................................48

5.8.1 Technique...........................................................................................................................48

5.8.2 Sample Size.........................................................................................................................48

Chapter6: Data Interpretation & Analysis............................................................................................49

6.1 Summary....................................................................................................................................82

Chapter7: Recommendations..............................................................................................................84



Annexure.............................................................................................................................................86

a) Questionnaire..........................................................................................................................86

b) List of Tables............................................................................................................................92

c) List of Figures...........................................................................................................................93

Bibliography.........................................................................................................................................94

Web Sites.........................................................................................................................................94

Magazines........................................................................................................................................94

Books...............................................................................................................................................94



Chapter 1: Introduction to Indian Jewellery Market

1.1 Industry Overview

Gems and jewellery has been used by the Indian civilisation since ages for both its

aesthetic as well as investment purposes. Precious metals and stones have been an

integral part of the Indian civilisation since its recorded history. India has the

distinction of being the first country to introduce diamonds to the world. The country

was also the first to mine, cut & polish and trade in diamonds.

The gems and jewellery industry can be classified into various sub segments like

diamonds, coloured stones, gold and silver jewellery, pearls, etc. However, the two

major segments in India are gold and diamonds. India dominates the diamond

processing trade with 11 out of 12 diamonds being cut and polished in India. India also

dominates the gold and silver consumption globally. The industry holds prominent

significance as it is a net exporter and provides employment to 1.3 million people

directly and indirectly.

The industry is characterised by highly unorganised trade, labour intensive operations,

working capital & raw material intensiveness, price volatility of gold especially and

export orientation. Demand for gold and diamond jewellery is driven by festivals and

wedding, increasing affluent and middle class population, increase in per capita spend

on luxury items, etc.

Changing lifestyle and urbanization are also fuelling the growth in the gems and

jewellery industry, mainly in branded jewellery, which is expected to grow over 40% in

the coming years. Urban consumers in India have become more exposed to western

lifestyles, primarily through overseas travelling. This has led to increased preference for

products and designs that are popular abroad. For instance, there is a shift towards

machine-made jewellery over the traditional handcrafted jewellery.

Rizvi Institute of Management Studies & Research Page 1


The Indian gem and jewellery industry posted 16 percent growth in exports in fiscal

year 2009-2010 compared with the previous year, according to the Gem and Jewellery

Export Promotion Council (GJEPC).

Exports of cut and polished which posted a 20.1-percent rise to $17.5 billion, up from

$14.6 billion in the prior financial year.

Cut and polished diamonds accounted for 61.7 percent of India's gem and jewellery

exports, followed by gold jewellery at 31.2 percent and coloured gemstones with 5.1

percent, according to a media release.

The Indian gems and jewellery sector is expected to grow at a compound annual growth

rate (CAGR) of around 14 per cent from 2009 to 2012.



1.2 Sector Structure/Market Size

The Indian gems and jewellery industry is one of the fastest growing segments in the

Indian economy with an annual growth rate of approximately 40 per cent.

The domestic market is estimated to be around US$ 16.1 billion and the All India Gems

and Jewellery Trade Federation, a nodal agency representing 300,000 jewellers across

the country, expects it to grow to US$ 25.2 billion in two to three years.

The country is also the largest consumer of gold in the world. It consumes nearly 800

tonnes of gold that accounts for 20 per cent of world gold consumption, of which nearly

600 tonnes go into making jewellery.

India is also emerging as the world's largest trading centre for gold targeting US$ 16

billion by 2012. The industry has the best skilled manpower for designing and

producing high volumes of exquisite jewellery at low labour costs.

The Indian consumer population is among the youngest in the world with nearly two-

thirds of the population below 35 years of age. The proportion of working pollution has

also been consistently increasing along with the increasing per capita income. This has

resulted in increasing disposable income and discretionary spending by Indian

consumers leading into a change in consumer behaviour towards demand for branded

and luxury products.

Research indicates that the rural jewellery market in India is set to grow strongly

despite the global economic meltdown. Overall sales of jewellery dominated by the plain

gold variety in India through 2008 rose by 23 per cent over 2007 to Rs. 86,000 crores

and rural areas accounted for Rs. 52,000 crores. Last year rural areas witnessed a 24

per cent growth in gold jewellery sales in terms of value.



The reasons attributed for the growth are:

(i) The majority of working women in rural India do not invest in stocks and

shares or use other investment instruments and they usually invest their

surplus money in jewellery.

(ii) The rural families allocate fixed budgets to buy jewellery for weddings

and they buy jewellery at this time irrespective of whether gold prices are

high or not.

(iii) Rural markets are less affected by the global meltdown as they are

agriculture-based.



1.3 Retail Sector

The Indian gems and jewellery market continues to be dominated by the unorganised

sector. However, with the Indian consumer becoming more aware and quality

conscious, branded jewellery is becoming very popular and the market for branded

jewellery is likely to be worth US$ 2.2 billion by 2010.

Moreover, the government allows 51 per cent FDI in single brand retail outlets,

attracting both global and domestic players to this sector.

Research indicates that the jewellery and watches market is pegged at about US$ 13.70

billion. It is expected to register a 12 per cent growth by 2012, touching US$ 23.60

billion.

The World Gold Council recently estimated the size of India's gold coin market at about

US$ 2.11 billion.

In order to increase the demand during recession, jewellers are concentrating on newer

designs in light weight jewellery.



1.4 Large Market Opportunity

Changing trends leading to increased consumerism in the Indian retail market:

1.4.1 Exports

Figure 1.1 – Indian Gems & Jewellery Export in Dec-09

The overall exports of Gems & Jewellery at US$ 1892.32 million (rupees 8823.89 crores)

in month of December 2009 is showing a growth of 45.35% (39.34% in rupees term) as

compared to US$ 1301.93 million (rupees 6332.58 crores) of same period previous

year.

The higher growth in export & import during December 2009 is in fact due to the

reason that the trade voluntarily stopped the import of Rough Diamonds for one month

(24th November 2008 to 23rd December 2008) resulting in the decline of import and

thus the exports. Also the US recession and economic down turn seriously affected the

overall Exports & Imports of gem & jewellery during December 2008.



The overall export of Cut & Polished diamonds at of US$ 1289.09 million (Rupees 6011

crores) in month of December 2009 is showing a growth of 65.68% (58.83% in rupees

term) as compared to US$ 778.07 million (rupees 3784.56 crores) for the same period

of previous year. As stated earlier the growth is due to less export in December 2008.

Provisional export of gold jewellery for December 2009 at US$ 508.62 million (rupees

2371.71 crores) shows growth of 4.38% (growth of 0.07 rupee term) over the

comparative figure of US$ 487.27 million (rupess 2370.10 crores) December 2008.

Export of Coloured Gemstones at US$ 15.18 million (in Rupees 70.80 crores) shows a

growth of 310.27% (+293.68 in rupee term) during December 2009 as compared to US$

3.70 million (rupees 17.99 crores) in December 2008.



1.4.2 Government Initiatives

The Indian government has provided an impetus to the booming gems and jewellery

industry with favourable foreign trade policies:

100 per cent foreign direct investment (FDI) in gems and jewellery through the

automatic route is allowed.

The government has lowered import duty on platinum and has exempted rough

coloured precious gems stones from customs duty.

Rough, semi-precious stones are also exempt from import duty.

Duty-free import of consumables for metals other than gold and platinum up to 2

per cent of freight on board (f.o.b) value of exports.

Duty-free import entitlement for rejected jewellery up to 2 per cent of f.o.b value

of exports.

Import of gold of 18 carat and above under the replenishment scheme.

Setting up of SEZs and gems and jewellery parks to promote investment in the

sector.

In May 2007, the government abolished import duty on polished diamonds.



Chapter 2: Diamond Jewellery Market

2.1 Overview of Diamond Jewellery Market in India

India is the largest diamond cutting and polishing centre in the world—the industry

enjoys 60 per cent value share, 82 per cent carat share and 95 per cent share of the

world market in terms of number of pieces. In other words, nearly 9 out of 10 diamonds

sold worldwide are cut and polished in India. India exported cut and polished diamonds

worth US$ 13.02 billion in 2008-09. The gold jewellery market is growing at 15 per cent

per annum and the diamond jewellery market at 27 per cent per annum.

The Indian diamond market is likely to grow at 20 per cent to touch Rs 1-lakh-crore in

the next five years whereas gold will grow at 8-10 per cent year- on-year.


jewellery market in the country is worth Rs 70,000 crore.(Reported on 28th March

2010)

In the global diamond market today, Indian diamonds account for 55 per cent share in

value terms, 80 per cent share in caratage (weight) terms and 90 per cent share in

volume terms. Today there is already availability of an entire range of diamonds in

nearly every size, quality and cut.

India has a large pool of skilled and low cost man power for its gems and jewellery

industry. The country has world’s one of the best skilled manpower to design and make

high volumes of exquisite jewellery at relatively low labour cost. The cost per carat for

cutting and polishing diamond was US$ 10 in India as compared to US$ 17 in China and

US$ 150 in Belgium. It also has the largest resource hub in diamond cutting and

processing. Low cost of labour involved in production of finished diamonds has lured

global attention, thereby resulting into the growth of the industry.



Major portions of the rough, uncut diamonds processed in India are exported, either in

the form of polished diamonds or finished diamond jewellery. The largest consumer of

gold worldwide, India is also the leading diamond cutting nation.

The Indian gems and jewellery industry is competitive in the world market due to its

low cost of production and the availability of skilled labour. In addition, the industry has

set up a worldwide distribution network, of more than 3,000 offices for the promotion

and marketing of Indian diamonds.

The Indian diamond industry has the world's largest cutting and polishing industry,

employing around 800,000 people (constituting 94 per cent of global workers) with

more than 500 hi-tech laser machines. The industry is well supported by government

policies and the banking sector with around 50 banks providing nearly $3 billion of

credit to the Indian diamond industry. India is have its diamond bourse functioning at

Mumbai.

India is therefore a significant player in the world gems and jewellery market both as a

source of processed diamonds as well as a large consuming market.

2.1.1 Certification

Following the World Diamond Council's statement on adopting credible and effective

measures against the trade in conflict gems, the Indian government has tightened its

certification process for international trade. The Gems & Jewellery Promotion Council is

India's certification authority. The government's Central Board of Excise and Customs

has banned the import or export of rough diamond shipments, which are not

accompanied by a Kimberley Process certificate launched in Switzerland. Certification

for quality diamonds and jewellery has given a fillip to exports and has resulted in

greater acceptance of Indian products in the world market.



2.2 Major geographical areas in India were Diamond Market is

Concentrated

India’s diamond processing hub is Surat, contributing over 80 per cent of the country's

diamond processing industry with annual revenue of around US$ 13.03 billion. In recent

years, Dubai, being a port location, had developed into a diamond distribution centre in

West Asia. According to industry estimates, 10-15 per cent of India's total polished

diamond exports go through Dubai.

The Surat diamond industry cuts and processes 80% of the world’s rough stones from

Belgium. The industry employs close to 4.5 lakh workers in 4,500 units and, till last

year, attrition was at 40%

In India, the Diamond trade and offices are located, in Mumbai (Bombay) & the major

manufacturing center is in the near-by city of Surat.

The trade-related areas of interest are Andheri, Bandra and Opera House. Andheri may

be considered as the start point (North) and is where the International Airport lies.

Bandra may be considered as the mid-point & Opera House may be considered the end

point (South). Andheri has the single largest concentration of jewellery manufacturing

facilities in the world. Bandra is looking forward to the 'Diamond Bourse' - a world class

diamond trading facility, coming up in Mumbai. Opera House area houses the traditional

Diamond district of India; the offices are located within a radius of less than half a mile.

Diamond mining is concentrated the Indian states of Jharkhand, Madhya Pradesh,

Orissa, Andhra Pradesh and Karnataka.



Grouping is done according to the location of mines

Figure 2.1 – Grouping of Diamond mine according to the location

2.2.1 Southern Group

These mines of the southern group were the most famous and contributed to the

legendary diamonds. The mines were stretched across the vast land from the Godavari

River near Hyderabad to the Pennar River in the south, as well as the entire span of the

Krishna River belt. It comprises a vast area, which includes parts of Anantapur,

Cuddapah, Kurnool, Guntur, Krishna and West Godavari.

2.2.2 Northern Group

In the Bundelkhand district of the then Central Provinces, between the rivers Ken and

Son lie the northern group of workings. There are three types of deposits a) alluvial

terraces, b) conglomerate rocks and c) volcanic pipe situated at Majhgawan which lies

12 miles south west of Panna. The Panna Diamond Mines as they are popularly known,

have been recorded in the 16th century AD. In the earlier days, most of the shallow

gravels especially the alluvial and lateritic as well as the exposed conglomerates were

worked on.



2.2.3 Eastern Group

The eastern group spreads from Chhotanagpur plateau in the basins of rivers (Sankh

and Koel which come together to become river Brahmani) in the Ranchi District (23°

16': 84° 17') and in Palamau (23°35': 84°21') where occasionally large diamonds

especially blue coloured diamonds have been found. It is said the area near the Hirakud

Dam, Bondisar in Kalahandi district, various places in the Boudh districts have yielded

diamonds. After the monsoon season, especially after the intense flooding of the

regions, large- sized diamonds were found in the gravel deposits. Most of this region has

Pre-Cambrian rocks and therefore besides diamonds other gemstones have also been

found here. The eastern group further continues in the Mahanadi river valley in the

neighbourhood of Sambalpur district of Orissa as well as in the Raipur district of the

newly formed Chhatisgarh State.



2.3 Major Players in Diamond Jewellery Industry

Market share of major players is as follows:

Figure 2.2 – Market Share of Major Players in Diamond Industry

The domestic diamond market is pegged at Rs 12,000 crore and the total jewellery

market in the country is worth Rs 70,000 crore.(Reported on 28th March 2010). The

domestic market consists of local jewellers, big jewellery companies without brands

and big jewellery companies with brand.



The market share shown above is of the branded companies with brand and ‘others’

includes company which doesn’t have brands but they sell certified Diamond jewellery.

Some of these kind of companies are Vaibhav Gems Ltd., Classic Diamond (India) Ltd.,

Goldiam international Ltd., Su-raj Diamonds & Jewellery Ltd., Rajesh Exports Pvt. Ltd

etc. All these companies totally has the market share of 31%.

Among the branded jewellery Tanishq has the highest market share of 25%, Gitanjali

Gem Ltd. has 24%, Shrenuj & company Ltd. has 8%, Sheetal Group of Companies has

3%, Fine Jewellery (India) Limited has 3%, Concept Jewellery India Pvt Ltd has 2%, Gem

& Jewellery Export Promotion Council has 2% and Rosy Blue Group has 2% of market

share.



2.3.1 Concept Jewellery India Pvt Ltd

The brand launched by Concept Jewellery India Pvt Ltd. is Adora. Adora Diamonds were

launched in India in July 2003 by Mumbai based Concept Jewelry (India) Ltd. On the

present day the still expanding retail network centers of Adora expands to 117 outlets

in 47 cities of India. Adora means glory in Spanish and claims that its diamond collection

is themed on love. Adora diamonds are for adornment of every moment, occasion, and

phase of life through its up and downs.

The Swaranjali signature collection of living legend Lata Mangeshkar is a unique feature

of Adora diamonds. Each piece of Swaranjali collection is conceptualized and approved

by Lata Mangeshkar and bears her laser printed signature.



2.3.2 Fine Jewellery (India) Limited

The brand launched by Fine Jewellery (I) Limited is Nirvana. Nirvana Diamonds from

Fine Jewellery (I) Ltd. was launched in 2002 in India. Nirvana diamonds are targeting at

fashion conscious, modern and independent thinking women. Internationally acclaimed

Nirvana diamonds are manufactured by using state-of-the-art technology. As a proof of

their quality Nirvana was among one of the brands to offer lifetime warranty to its

consumers.



2.3.3 Gem & Jewellery Export Promotion Council

The Gem & Jewellery Export Promotion Council (GJEPC) has launch 'Anant', an exquisite

range of single line diamond jewellery exclusively for the Indian consumer on 17th

September 2009. Part of the recently announced initiative, being jointly undertaken by

the GJEPC with retailers, manufacturers and miners, 'Anant' is the first of its kind

initiative by the industry, for the industry to boost and sustain growth of diamond

jewellery in India. Unveiled by the timeless beauty, Sonam Kapoor; 'Anant' is available

at over 200 retail outlets across the country. Manufacturers and retailers will sell single

line diamond jewellery under the brand name 'Anant'". 'Anant' is part of GJEPC's

ongoing India Diamond Jewellery Promotion (IDJP) campaign, whose sole mission is to

promote diamond jewellery trade in India.



2.3.3.1 Role of Gem & Jewellery Export Promotion Council (GJEPC)

Set-up in 1966, the GJEPC has over the years effectively moulded the scattered efforts of

individual exporters to make the gem and jewellery sector a powerful engine driving

India's export-led growth. This apex body of the gem & jewellery industry has played a

significant role in the evolution of the Indian gem and jewellery industry to its present

stature. GJEPC is continuously working towards creating a pool of artisans and

designers trained to international standards so as to consolidate the Indian jewellery

industry and establish it as a prominent global player in the jewellery segment.

The role of GJEPC can be broadly classified under the following categories:

Trade Facilitator

The Council undertakes direct promotional activities like organising joint participation

in international jewellery shows, sending and hosting trade delegations, and sustained

image building exercises through advertisements abroad, publications and audio-

visuals.

Advisory Role

Council has also been aiding better interaction and understanding between the trade

and the government. The Council takes up relevant issues with government and

agencies connected with exports and submit documents for consideration and inclusion

in the Exim Policy. The Council also grants membership, registration certificates and

performs other roles as per the Exim Policy.

Nodal Agency for Kimberley Process Certification Scheme

GJEPC works closely with the Government of India and the trade to implement and

oversee the Kimberley Process Certification Scheme. To that effect, the Council has been

appointed as the Nodal Agency in India under the Kimberley Process Certification

Scheme.



Training and Research

The Gems & Jewellery Export Promotion Council runs a number of institutes that

provide training in all aspects of manufacture and design in Mumbai, Delhi, Surat and

Jaipur. These training programs are being conducted to ensure that the Indian industry

achieves the highest levels of technical excellence.

Varied Interests

The Council also publishes a number of brochures, statistical booklets, trade directories

and a bi-monthly magazine - Solitaire International, which is distributed internationally

as well as to its members. Finally, the Council has also developed its own promotional

audiovisual film - 'India - Your First Choice', which is dubbed in various international

languages as well as screened at various trade shows.



2.3.4 Gitanjali Gems Ltd

Gitanjali Gems Limited, a DTC sightholder, is one of the largest integrated diamond and

jewellery manufacturers and retailers in India. Its operations include sourcing of rough

diamonds from primary and secondary source suppliers in the international market,

cutting and polishing the rough diamonds for export to its international markets, and

the sale of diamond and other jewellery through GGL's retail operations in India, as well

as in international markets.

GGL also sells its branded diamond and other jewellery products under brands, such as

Nakshatra, Lucera, Calgaro, Rivaaz, Desire, Stefan Hafner, Kashvi, Ezee Diamonds, Maya,

Diya, Rosata, Asmi, Gili, D'Damas, Sangini, Collection G and Vivaha Gold, in India through

its network of approximately 840 outlets. The Gitanjali Group has extensive knowledge

and experience with US product ranges for over two decades.



2.3.5 Rosy Blue Group

Rosy Blue Group launched the brand ORRA in the year 2004. It is the only jewellery

company in India which has tie-ups with the three leading jewellery organizations

namely, DTC (De Beers), PGI (Platinum Guild India) & WGC (World Gold Council). 1 in

every 25 diamonds is a Rosy Blue diamond. In any size, shape and colour ORRA have a

diamond. ORRA has 33 exclusive diamond boutiques across India.



2.3.6 Sheetal Group of Companies

World's largest volume manufacturer of diamonds-Sheetal manufacturing Company

(SMC) launched its exquisite Kiah diamond collection in October, 2004. Kiah diamonds

are claims to be for celebrating womanhood. The brand name 'Kiah' means beautiful

place. On the latest Kiah diamonds have won the Best Showroom in the DTC Diamond

Season for 2005-2006.



2.3.7 Shrenuj & Company Ltd.

Shrenuj & Company is diamond manufacture company which owns brands such as

Amante88, Arisia, Bhavya, Caro74, Fiana, Hot diamonds, Lavanya, Lorenzo, Lumé,

Mastercut, Sveni, Syntila88, Trapz, Valina etc. The company have 14 distinct brands,

each focused on meeting the needs of a target consumer segment. In 2003, company

added retailing operations to the Group. This completed their pipeline integration,

giving a direct route to take diamonds right through to the consumer.


http://www.mylume.com/


2.3.8 Tanishq

Tanishq diamonds are India's largest, most desirable and fastest growing Jewellery

brand in India. Tanishq, launched in 1995, is the Jewellery business group of Titan

Industries Ltd. On the present day Tanishq has 84 outlets in 61 cities of India. Tanishq

diamonds embark the aspiration of emerging Indian women who uses tradition rather

than being used by it. Asin is the brand ambassador for Tanishq.

Tanishq diamonds bring together the work of Karigars, who specialize in different ways

of making the Jewellery. Tanishq diamonds comprises fashion and style in tradition

bound category through its innovation driven 'collections' strategy.



2.4 Different segment of Diamond jewellery

Diamonds perfectly blends with Ruby, Tahitian, Pearls and Gold. The combination of

diamonds with gold, ruby and Tahitian pearls gives that additional touch of elegance to

all jewellery, from bracelets to pendants, from bangles to earrings, from necklaces to

rings. Special diamond ruby necklace or pearl necklace makes you look more gorgeous

than ever. The arrangement of stunning diamonds amidst fine gold gives the touch of

traditional India and at the same time keeps up to the designs of the current tastes.

Now days, diamonds are combined with sapphires, rubies, emeralds and many such

precious stones in different combinations. They enhance the owner’s attire as matching

designer jewellery. There are other combinations such as Diamonds with silver, gold,

coloured stone, platinum etc.

2.5 Technical features of Diamond jewellery

Diamond is the purest form of carbon. Carbon has three configurations

Powder carbon

Graphite carbon (similar to the lead in your pencil) and

Diamond

The types of diamonds depend on the molecular arrangement of the carbon atoms in

relation to each other. Diamond is formed under extreme heat and pressure deep within

the Earth's crust, and come to the surface via volcanoes. Most diamonds are found in

rock structures are known as Kimberlite.

Diamonds are colourless, but there are rare diamonds, which comes in colours like red, pink, yellow, blue, green, brown and black.


http://www.articlealley.com/


The different shapes of the diamonds –

Round

Brilliant

Emerald Heart Marquise Oval Pear Princess

Figure 2.3 – Different shapes of Diamond



2.5.1 4C’s of Diamond Jewellery

The 4Cs are used throughout the world to classify the rarity of diamonds. Diamonds

with the combination of the highest 4Cs ratings are rarer, and consequently more

expensive. Light is the element that ignites a diamond’s brilliance and fire. Its interplay

with each of the 4Cs will help explain why one diamond can appear more beautiful than

another. The good news is that you don’t need to buy the rarest diamond to find one

whose beauty speaks to you.

Cut is the only one of the 4Cs of diamonds that is influenced by the human hand. The

rest (colour, clarity and carat) are created naturally as diamonds form in the earth.

Cut – refers to angles and proportions of a diamond.

Figure 2.4 – Different Angles of Cut



Colour - refers to the degree to which a diamond is colourless.

The colour grading scale of the diamonds varies from totally colorless to light yellow.

The differences between one grade and another are very subtle, as can be seen by the

number of grades within any one category. The better the colour the higher the price.

Figure 2.5 – Types of Grading for Colour in Diamonds

Carat - refers to the weight of a diamond.

The diamonds are measured in carats (cts.). One carat is divided into 100 points. 1 carat

is equal to 20miligrams or 5carats is equal to 1gram

Figure 2.6 – Types of Carat for Diamond

Since diamonds are measured by carat weight, and not size (or diameter), two

diamonds of the same weight could have different sizes.



Clarity - refers to the presence of inclusions in a diamond.

Diamonds brilliance can be hindered by interior or exterior inclusions, which are called

flaws. These inclusions neither mar its beauty nor endanger the diamond’s durability. It

is very difficult to see these inclusions with the naked eye. Hence the diamonds are

graded for clarity.

Figure 2.7 – Types of Clarity in Diamond

FL and IF clarity Internally flawless. Very rare and very expensive

VVS and VS clarity Very Very slight inclusions

SI1-SI2 clarity Very slight inclusions

I1-I3 clarity very poor quality used as promotional

Terminology used in diamond trade –

1 Pointers Decimal sizes are called pointers i.e. 0.01 is one pointer.

2 Stars Stone sizes from 0.001cts to 0.02cts or 1 and 2 pointers are called

stars

3 Malee Stone sizes from 0.025cts to 0.065cts are called malee.

4 Quarter

s

The stone weight from 0.23cts to 0.25cts.

5 Thirds The stone weight from 0.30cts to 0.33cts.

6 Half’s The stone weight 0.50cts.

7 Solitaire Single large stone is called solitaire.



2.5.2 Diamond Anatomy

The graphic and supporting text below explain the various "parts" of a diamond.

Figure 2.8 – Diamond Anatomy

Diameter

The width of the diamond as measured through the girdle.

Table

This is the large, flat top facet of a diamond.

Crown

The upper portion of a cut gemstone, above the girdle.

Girdle

The narrow rim of a diamond that separates the crown from the pavilion. It is the

largest diameter to any part of the stone.

Pavilion

The lower portion of the diamond, below the girdle. It is sometimes referred to

as the base.

Culet

The tiny facet on the pointed bottom of the pavilion, which is the portion of a cut

gem below the girdle.



Depth

The height of a gemstone, from the culet to the table.



Chapter 3: Consumer Buying Behaviour

3.1 Defining Consumer Buying Behaviour

Consumer Buying Behaviour is the behaviour that a consumer display while buying the

product or a service. Each and every consumer has his/her own buying behaviour that

he displays it during purchase of different products. This behaviour displayed by the

consumer is the result of a number of influences which he/she receives from the

environment. These influences can be categorized into four factors viz. Cultural factors,

Social factors, Personal factors and Psychological factors.

3.1.1Cultural Factors

Culture, subculture and social classes are particularly important in buying behaviour.

Culture is the fundamental determinant of a person’s wants and behaviour. Each culture

consists of smaller subcultures that provide more specific identification and

socialization of its members. Subculture includes nationalities, religions, racial groups

and geographic regions.

3.1.2 Social Factors

In addition to cultural factors a consumer’s behavior is influenced by such social factors

as reference groups, family and social roles and statuses. A person’s reference group

consists of all the groups that have a direct (face to face) or indirect influence on the

person’s attitudes or behavior. Groups that have direct influence on a person is called as

membership groups. Some membership groups are also called as primary groups, such

as family, friends, neighbors and coworkers with whom the person interacts fairly

continuously and informally. People also belong to secondary groups such as religious,

professional and trade union groups which tend to be more formal and require less

continuous interaction. Aspirational groups are those a person hopes to join;

dissociative groups are those whose values and behavior an individual rejects. The

family is the most important consumer buying organization in society, and family



members constitute the most influential primary reference group. A person participates

in many groups-families, clubs, organizations. The person’s position in each group can

be defined in terms of role and status. A role consists of the activities a person is

expected to perform. Each role carries a status.

3.1.3 Personal Factors

A buyer’s decisions are also influenced by personal characteristics. These include the

buyer’s age in the life cycle, occupation, economic circumstances, lifestyle and

personality and self concept.

People buy different goods and services over a lifetime. They eat baby food in the early

years, most foods in the growing matured years and special diet in the later years.

Occupation also influences consumption patterns. A blue collar worker may buy work

clothes, work shoes and lunch boxes. A company president may buy expensive suits, air

travel and country club membership.

People from same subculture, social classes and occupation may lead quite different

lifestyles. A lifestyle is a person’s pattern of living in the world expressed in activities,

interest and opinions.

3.1.4 Psychological Factors

A person’s buying choices are influenced by four major factors viz. motivation,

perception, learning, believes and attitudes.



3.2 Importance of Consumer Buying Behaviour

The study of consumer behavior focuses on how individuals make their decisions to

spend their available resources (time, money, effort) on consumption related itemsor

consumption related aspects (What they buy? When they buy? How they buy?).It also

study of individuals, or organisations and the processes consumers use to search, select,

use and dispose of products, services, experience, or ideas to satisfy needs and its

impact on the consumer and society.

The consumer buying decision has six stages

Figure 3.1 – Process of Consumer Buying Decision



Buyer behaviour is deeply rooted in psychology with dashes of sociology thrown in just

to make things more interesting. Since every person in the world is different, it is

impossible to have simple rules that explain how buying decisions are made. But those

who have spent many years analysing customer activity have presented us with useful

“guidelines” in how someone decides whether or not to make a purchase. The

evaluation of marketing concept from mere selling concept to consumer oriented

marketing has resulted in buyer behaviour becoming an independent discipline.

The growth of consumerism and consumer legislation emphasizes the importance that

is given to the consumer. Some consumers are characterized as being more involved in

products and shopping than others. A consumer who is highly involved with a product

would be interested in knowing a lot about it before purchasing. Hence he reads

brochures thoroughly, compares brands and models available at different outlets, asks

questions, and looks for recommendations. Thus consumer buying behaviour can be

defined as heightened state of awareness that motivates consumer’s to seek out, attend

to, and think about product information prior to purchase.



3.3 Consumer Buying Behaviour in Jewellery Industry

Consumer buying behaviour in jewellery industry can be studied on the internal

parameters such as

Carat

Combination of a particular metal/stone jewellery with other metals

Colour

Price

Other parameters external parameters could be studied are

Popularity of the brand

Trust in the brand

Impact of any occasions such as Festivals, Birthday, Anniversary, Marriage,

Engagement etc.

Celebrity Endorsement

Promotion

Wide range of Designs

Brand Name

Exhibitions

Launch of new collections



Chapter 4: Relationship of Consumer Buying Behaviour with

Diamond Jewellery Industry

4.1 Role of Consumer Buying Behaviour in Diamond Jewellery

Industry

A research conducted by National Jeweller magazine uncovered the top ten reasons

women wear diamond jewellery:

Sentimental value

To feel good about self

Express individuality

Be modern & up-to-date

Be cool and trendy

Make a good first impression

Look professional at work

Make a good impression on the opposite sex

Be admired and respected

Display wealth & status

According to a study by JCK Magazine, about 67 percent of all jewellery is a planned

purchase, while the remaining 33 percent is an impulse purchase.

When jewellery is a planned purchase, consumers cite “price” as the most important

factor that determines which piece of jewellery they are likely to buy. After ‘price’, the

following factors are most relevant, ranked in order from most important to less

important, according to the JCK Magazine study.



More than 50 percent of jewellery shoppers cited these factors as most important:

Product quality

Salesperson’s honesty

Service

Store reputation

Salesperson’s knowledge

Less than 50 percent of jewellery shoppers cited these factors as important:

Store display

Brand name

Store location

Recommendation by another shopper

Advertising

Store hours

Impulse purchases are much more likely to be made by women, according to a study

reported by Money magazine.



4.1.1 Parameters to consider while buying Diamond Jewellery

4.1.1.1Diamond Cut

Don't confuse the diamond's "cut" with the diamond's "shape." "Shape” refers to the

general outward appearance of the diamond, (such as round, emerald, or pear). When a

diamond jeweler (or a diamond certificate) says "cut," that's a reference to the

diamond's reflective qualities, not the shape. The quality of the "cut" does make a

difference in how a diamond looks.

Diamond cut is perhaps the most important of the four Cs, so it is important to

understand how this quality affects the properties and values of a diamond. A good cut

gives a diamond its brilliance, which is that brightness that seems to come from the very

heart of a diamond. The angles and finish of any diamond are what determine its ability

to handle light, which leads to brilliance.

As shown in the images below, when a diamond is well-cut, light enters through the

table and travels to the pavilion where it reflects from one side to the other before

reflecting back out of the diamond through the table and to the observer's eye. This light

is the brilliance we mentioned, and it's this flashing, fiery effect that makes diamonds so

mesmerizing.

Figure 4.1 – Different type of Cut in Diamond



In a poorly cut diamond, the light that enters through the table reaches the facets and

then 'leaks' out from the sides or bottom of the diamond rather than reflecting back to

the eye. Less light reflected back to the eye means less brilliance.

4.1.1.2 Good Proportions are Key

Most gemmologists agree that the best cut diamonds are those that follow a set of

formulae calculated to maximize brilliance. These formulae can be seen in a diamond's

proportions, most importantly how the depth compares to the diameter, and how the

diameter of the table compares to the diameter of the diamond.

If you opt to buy a diamond without an AGS certificate, spend some time looking at

certified diamonds (where you know the Cut Grade) and train your eyes to identify the

better cuts (by their "sparkle"). Cut does make a difference to the outward appearance

of a diamond.

However, the variance in the proportions between an Ideal Cut and a Poor Cut can be

difficult to discern by the casual observer.

Because cut is so important, several grading methods have been developed to help

consumers determine the cut of a particular diamond. In general, these grades are:

Ideal

Premium

Very Good

Good

Fair & Poor



Which Grade of Cut should one buy?

Selecting the grade of cut is really a matter of preference. To make the best selection,

you need to understand the various grades. Please note that the descriptions below are

general guidelines.

Ideal

This cut is intended to maximize brilliance, and the typically smaller table sizes of these

diamonds have the added benefit of creating a great deal of dispersion or 'fire' as well.

Ideal quality diamonds are truly for the person who enjoys knowing that he has one of

the finest things that money can buy. This category applies only to round diamonds.

Premium

In the case of round diamonds, many Premium Cut diamonds have cuts that are the

equal of any Ideal Cut diamond, though they often can be purchased at slightly lower

prices than AGS Ideal Cuts. They are intended to provide maximum brilliance and fire.

Like the Ideal Cut, these are also for the person who enjoys knowing that he has one of

the finest things that money can buy.

Very Good

These diamonds reflect most of the light that enters them, creating a good deal of

brilliance. With these diamonds, the cutters have chosen to stray slightly from the

preferred diamond proportions in order to create a larger diamond. The result is that

these diamonds fall slightly outside of some customers' preferences in terms of, for

example, table size or girdle width, though, in many cases many of the parameters of

diamonds in this range will overlap with certain parameters of diamonds in the Ideal or

Premium ranges. Generally, the price of these diamonds in slightly below that of

Premium cuts.



Good

Diamonds that reflect much of the light that enters them. Their proportions fall outside

of the preferred range because the cutter has chosen to create the largest possible

diamond from the original rough crystal, rather than cutting extra weight off to create a

smaller Premium quality diamond. Diamonds in this range offer an excellent cost-

savings to customers who want to stay in a budget without sacrificing quality or beauty.

Fair & Poor

A diamond graded as fair or poor reflects only a small proportion of the light that enters

it. Typically these diamonds have been cut to maximize the carat weight over most

other considerations.



4.2 Important Attribute of Consumer Buying Behaviour effecting

Diamond Jewellery Industry

The important attribute of consumer buying behaviour in diamond jewellery purchase

are as follows

Location of purchase of Diamond jewellery

Combination of Diamond jewellery with other metals/stones

Carat

Colour

Cut

Price

Popularity of Brand

Trust in the Brand

Size

Any occasions/festivals

Certifications

Celebrity Endorsement

Promotion

Wide variety of design

Brand Name

Exhibitions

New collection



Chapter 5: Research Methodology

5.1 Need & Significance

The Indian diamond market is growing at 20 per cent to touch Rs 1-lakh-crore in the

next five years whereas gold will grow at 8-10 per cent year- on-year.


jewellery market in the country is worth Rs 70,000 crore.(Reported on 28th March

2010)

Since lot of brand are launched nowadays there is a stiff competition among the major

players in the industry and to attract women to purchase Diamond jewellery many

tactics are been adopted by companies so this research will help in understanding the

buying parameters and the parameters which influences the purchase of the Diamond

jewellery by women.

5.2 Scope

This research has helped in understanding the preference of Diamond with different

combination of metal jewellery and buying patterns of women in the purchase of

Diamond jewellery. This research has also help letting us understand which internal

parameter of Diamond jewellery is most important for the women and which promotion

activity has most effect in the purchase of Diamond jewellery.



5.3 Methodology

The methodology used was “Descriptive Research”. The research has a structured

questionnaire where respondents would be interviewed. The sample size was 100. It

comprises of women in the age group of 32 to 55 years and belong to SEC A category

and having purchasing power to buy diamond jewellery. The area for the survey is

restricted to the City of Mumbai.

5.4 Research Objectives

To identify the segment (Diamond with gold/platinum/silver) under which

diamond jewellery is mostly preferred.

To identify which parameters play an vital role in the selection of Diamond

Jewellery(Cut, Carat, Clarity, Colour, Size)

To understand whether Certification plays a vital role in the purchase of

Diamond jewellery.

To understand what attracts consumer towards Diamond Jewellery (Celebrity

Endorsement, Promotion, Range of Design etc.)

To identify whether price factor plays an important role in the purchase of

Diamond jewellery



5.5 Hypothesis

Ho: There is no significance difference among the women for the preference in the

Diamond jewellery in different segment like Diamond with Coloured stone,

Diamond with Gold, Diamond with Platinum and Diamond with Silver.

Ha: There is a significance difference among the women for the preference in the



Ho: There is no significance difference among the women in the preference of Carat,

Clarity, Colour, Cut, Price, Popularity of the Brand, Trust in the Brand and Size for

the purchase of Diamond jewellery.

Ha: There is a significance difference among the women in the preference of Carat,



Ho: There is no significance difference among the women in the parameters such as

Celebrity endorsement, Promotion, Wide Variety of designs, Brand Name,

Exhibition and New Collection which attract them for the purchase of Diamond

jewellery.

Ha: There is a significance difference among the women in the parameters such as



jewellery.

Ho: Buying a Diamond Jewellery is not a thoughtful process

Ha: Buying a Diamond Jewellery is a thoughtful process

Ho: Certification does not play an important role in purchase of Diamond jewellery

Ha: Certification plays an important role in purchase of Diamond jewellery



Ho: Purchase of Diamond jewellery is not preferred from the family jeweller compared

to that of Diamond Jewellery

Ha: Purchase of Diamond jewellery is preferred from the family jeweller compared to

that of Diamond Jewellery

Ho: Fashion show of Diamond jewellery does not influences the purchase of Diamond

jewellery

Ha: Fashion show of Diamond jewellery influence the purchase of Diamond jewellery

Ho: Diamond jewellery is not considered as status symbol for most of the women

Ha: Diamond jewellery is considered as status symbol for most of the women

Ho: Purchase of Diamond jewellery is not influenced by Celebrity endorsement

Ha: Purchase of Diamond jewellery is influenced by Celebrity endorsement

Ho: Gold jewellery does not have more variety in designs compared to that of Diamond

jewellery

Ha: Gold Jewellery has more variety in designs compared to that of Diamond jewellery

5.6 Limitation of the Study

5.6.1 Accuracy of the project

In this research, a small sample size was surveyed. Hence the conclusion may not hold

good for a large number of people.

5.6.2 Place of Research

The research was conducted only in certain selected places like from Borivali to Bandra,

thus the geographical limitations can be assumed to be a hurdle in the authenticity of

the research.



5.7 Sources of Data Collection

Primary data : Structured Questionnaire (Refer Annexure)

Secondary Data : Internet, Books, Magazine, Previous related study or research

conducted.

5.8 Sampling Procedure

5.8.1 Technique - Snowball sampling technique, Convenience sampling technique.

5.8.2 Sample Size - 100

1. Female groups between 30 to 55 yrs of age.

2. SEC A, females having purchasing power of buying Diamond jewellery or have

purchased Diamond jewellery or willing to purchase in 6 months time.

3. Residing in Mumbai.



Chapter6: Data Interpretation & Analysis

Q1. Do you own Diamond jewellery?

Figure 6.1- Ownership of Diamond Jewellery

Out of the 100 women respondent 67% of women own Diamond jewellery and 33% of

women did not owned the Diamond jewellery.



If ‘No’ are you planning to buy Diamond jewellery in 6 months time?

Figure 6.2 – Buying Diamond jewellery in 6 months time

In 33% of the women respondent who did not owned the Diamond jewellery, 67% of

women are planning to buy Diamond jewellery in 6 months time and 33% of women are

not planning to buy in 6 months time but these women have the purchasing power of

buying Diamond jewellery.



Q2. Which other stone you would prefer to buy other than Diamond jewellery?

Figure 6.3 – Preference of other stone on Diamond Jewellery

Among the 33% of women respondent who has the purchasing power of purchasing

Diamond jewellery but do not own it and they are not planning to buy Diamond

jewellery in 6 months time 37% of these women prefer to buy Ruby, 27% of women

prefer to buy Pearl, 18% of women prefer to buy Topaz, 9% of women prefer to buy

Blue Sapphire and 9% of women prefer to buy Emerald.



Q3. What kind of Diamond jewellery would you prefer wearing? (Multiple Choice)

Figure 6.4 – Preference on type of Diamond Jewellery

Among Diamond jewellery such as Bracelet, Earring, Necklace, Pendant and Ring, Ring

is the most preferred jewellery among the 100 women respondent followed by Earring,

Pendant, Necklace and Bracelet.



From the above selection which one is the most important for you?

Figure 6.5 – Most important Diamond jewellery type of Diamond Jewellery

Among Diamond jewellery such as Ring, Pendant, Earring, Necklace and Bracelet, Ring

is the most preferred among the 100 women respondent followed by Earring, Pendant,

Necklace and Bracelet



Q4. What is your target price range for buying Diamond jewellery?

Figure– 6.6 Target price for buying Diamond Jewellery

Among the 100 women respondent 40% of women target price for purchasing Diamond

jewellery is between Rs.30,001 – Rs.50,000 and 33% of women respondents target

price for purchasing Diamond jewellery is between Rs.15,000 – Rs.30,000. 14% of

women respondent target price for purchasing Diamond jewellery is above Rs.50,000

and 13% of women respondent target price for purchasing Diamond jewellery is below

Rs.15,000.



Q5. Where would you prefer buying your Diamond jewellery from?

Figure 6.7 – Store preferred for buying Diamond jewellery

Among the 100 women respondent 49% of women prefer to buy Diamond jewellery

from the family jeweller, 37% of women prefer to buy Diamond jewellery from the big

jewellery store, 14% of women prefer to buy Diamond jewellery from shopping mall

and 0% of women prefer buying Diamond jewellery from e-shopping.



Q6. Rate the following parameters under which segment Diamond jewellery is

mostly preferred by you? (Where 1 = Least important and 7 = Most important)

1 2 3 4 5 6 7

Diamond with Colored stone

Diamond with Gold

Diamond with Platinum

Diamond with Silver

Statistics

Diamond_Col

oured_Stone

Diamond_Gol

d

Diamond_Pla

tinum

Diamond_Sil

ver

N Valid 100 100 100 100

Missing 0 0 0 0

Mean 3.74 4.86 5.63 4.65

Std. Error of Mean .193 .179 .147 .196

Median 4.00 5.00 6.00 5.00

Mode 4 7 7 7

Std. Deviation 1.926 1.787 1.475 1.961

Variance 3.709 3.192 2.175 3.846

Skewness .231 -.490 -.954 -.406

Std. Error of Skewness .241 .241 .241 .241

Minimum 1 1 1 1

Maximum 7 7 7 7

Table 6.1 – Statistic for Diamond with Different Combination



Since the mean, median and mode of the Diamond with Platinum are highest it is the

most preferred combination followed by Diamond with Gold, Diamond with Silver and

Diamond with Coloured Stone. The Diamond with Coloured stone is the least preferred

combination.



Ho: There is no significance difference among the women for the preference in the



Ha: There is a significance difference among the women for the preference in the



Anova: Single Factor

SUMMARY

Groups Count Sum Average

Varianc

e

Diamond with Coloured Stone 100 374 3.74 3.7095

Diamond with Gold 100 486 4.86 3.1923

Diamond with Platinum 100 563 5.63 2.1748

Diamond with Silver 100 465 4.65 3.846

ANOVA

Source of Variation SS df MS F P-value F crit

Between Groups 181.3 3 60.433 18.706 2.29E-11 2.627441

Within Groups

1279.

3 396 3.2307

Total

1460.

6 399

Table 6.2 – Anova for Different Combination of Diamond jewellery

Since the p-value is less than 0.05, at 95% significance level we reject the Ho.



Hence, there is a significant difference among the women for the preference in the

Diamond jewellery in different segment like Diamond with Coloured stone, Diamond

with Gold, Diamond with Platinum and Diamond with Silver.

Q7. Rate the following parameters between 1 to 7, to whom you give prime

importance in purchase of Diamond jewellery? (Where 1 = Least important

and 7 = Most important)

1 2 3 4 5 6 7

Carat

Clarity

Colour

Cut

Price

Popularity of the Brand

Trust in the Brand

Size



Statistics

Carat

Clarit

y

Colou

r Cut Price

Popularity_of_Bran

d

Trust_in_Bran

d Size

N Valid 100 100 100 100 100 100 100 100

Missing 0 0 0 0 0 0 0 0

Mean 5.68 6.03 4.92 5.72 5.44 4.85 5.54 5.48

Std. Error

of Mean.131 .102 .167 .128 .148 .180 .165 .139

Median 6.00 6.00 5.00 6.00 6.00 5.00 6.00 6.00

Mode 7 7 7 7 7 7 7 7

Std.

Deviation

1.30

91.020 1.674

1.28

0

1.47

91.800 1.654

1.38

9

Variance 1.71

51.039 2.802

1.63

8

2.18

83.240 2.736

1.92

9

Skewness -

1.00

9

-1.053 -.333

-

1.02

1

-.683 -.471 -1.322 -.777

Std. Error

of

Skewness

.241 .241 .241 .241 .241 .241 .241 .241

Minimum 1 3 1 2 1 1 1 1

Maximum 7 7 7 7 7 7 7 7

Table 6.3 – Statistic for the preference of Characteristic of Diamond jewellery

Since the mean, median and mode is highest for the Clarity it is the most important

parameter among the women for the purchase of the Diamond jewellery followed by



Cut, Carat, Trust in Brand, Size, Price, Colour and the least preferred parameter is

Popularity of the Brand.



Ho: There is no significance difference among the women in the preference of Carat,



Ha: There is a significance difference among the women in the preference of Carat, Clarity, Colour,

Cut, Price, Popularity of the Brand, Trust in the Brand and Size for the purchase of Diamond

jewellery.


SUMMARY


Varianc

e

Carat 100 568 5.68 1.7147

Clarity 100 603 6.03 1.0395

Colour 100 492 4.92 2.8016

Cut 100 572 5.72 1.638

Price 100 544 5.44 2.1883

Popularity of the Brand 100 485 4.85 3.2399

Trust in the Brand 100 554 5.54 2.7358

Size 100 548 5.48 1.9289

ANOVA


Between Groups

111.1

8 7 15.882 7.35 1.44E-08 2.0211

Within Groups

1711.

4 792 2.1608

Total 1822. 799



6

Table 6.4 – Anova for the preference of Characteristic of Diamond jewellery




Hence, there is a significance difference among the women in the preference of Carat,

Clarity, Colour, Cut, Price, Popularity of the Brand, Trust in the Brand and Size for the

purchase of Diamond jewellery.



Q8. What sort of design do you prefer in diamond jewellery in the following

situation?

Trendy Traditional Evergreen Doesn’t Matter

Anniversary

Birthday

Engagement

Festivals

Valentine’s Day

Wedding

Figure 6.8 – Designs preferred for different occasion

On the occasion of Anniversary, out of 100 women respondent 34% of women preferred

evergreen design, 29% of women preferred trendy design, 21% of women preferred



traditional design and for 16% of women choosing a type of design for the occasion of

anniversary doesn’t matter.

On the occasion of Birthday, out of 100 women respondent 50% of women preferred

trendy design, 21% of women preferred evergreen design, for 16% of women choosing

a design for the occasion of birthday doesn’t matter and 13% of women preferred

traditional design.

On the occasion of Engagement, out of 100 women respondent 40% of women

preferred traditional design, 28% of women preferred evergreen design, 17% of women

preferred trendy design and for 15% of women choosing a type of design for the

occasion of engagement doesn’t matter.

On the occasion of Festivals, out of 100 women respondent 42% of women preferred

traditional design, 22% of women preferred evergreen design, for 20% of women

choosing a design for the occasion of festival doesn’t matter and 16% of women

preferred trendy design.

On the occasion of Valentine’s Day, out of 100 women respondent 53% of women

preferred trendy design, 27% of women preferred evergreen design, for 18% of women

choosing a design for the occasion of valentine’s day doesn’t matter and 2% of women

preferred traditional design.

On the occasion of Wedding, out of 100 women respondent 44% of women preferred

traditional design, 31% of women preferred evergreen design, 14% of women preferred

trendy design and for 11% of women choosing a type of design for the occasion of

engagement doesn’t matter.



Q9. What kind of Diamond jewellery do you prefer?

Figure 6.9 Preference for Certification of Diamond jewellery

Out of the 100 women respondent, 41% of women prefer buying branded Diamond

jewellery with certification, 38% of women prefer buying Diamond jewellery from

family jeweller with certification, 12% of women prefer buying Diamond jewellery

which is just certified and 9% of women prefer buying Diamond jewellery from family

jeweller without certification.



Q10. Would you be ready to spend more money to get Certified Diamond

jewellery?

Figure 6.10 Ready to spend more money for Certification

Among the 100 women respondent, 81% of women are ready to spend more money to

get certified Diamond jewellery and 19% of women are not ready to spend more money

to get certified Diamond jewellery.



If ‘Yes’ how much percentage of money, extra will you pay compared with

uncertified jewellery?

Figure 6.11 – Percentage of Money women like to play more for certification

Out of the 81% of women respondent who would like to spend more money to get

certified Diamond jewellery, 29% of women are ready to pay 6 percent more compared

to that of uncertified Diamond jewellery, 26% of women are ready to pay 4 percent

more compared to that of uncertified Diamond jewellery, 22% of women are ready to

pay 8 percent more compared to that of uncertified Diamond jewellery, 12% of women

are ready to pay 10 percent more compared to that of uncertified Diamond jewellery

and 11% of women are ready to pay 2 percent more compared to that of uncertified

Diamond jewellery.



Q11. Rate the following parameters which attract you towards diamond jewellery

purchase? (Where 1 = Least important and 7 = Most important)

1 2 3 4 5 6 7

Celebrity endorsement

Promotion

Wide variety of designs to choose

from

Brand Name

Exhibitions

New collections



Statistics

Celebrity_Endorsem

ent

Promotio

n

Wide_Ran

ge

Brand_Na

me

Exhibitio

n

New_Collecti

on

N Valid 100 100 100 100 100 100

Missin

g0 0 0 0 0 0

Mean 3.06 3.92 5.45 4.66 4.01 5.51

Std.

Error of

Mean

.180 .157 .137 .173 .167 .145

Median 3.00 4.00 6.00 5.00 4.00 6.00

Mode 1 4 7 4a 3 6

Std.

Deviatio

n

1.802 1.568 1.366 1.730 1.667 1.446

Variance 3.249 2.458 1.866 2.994 2.778 2.091

Skewnes

s.637 -.122 -.524 -.401 .091 -1.197

Std.

Error of

Skewnes

s

.241 .241 .241 .241 .241 .241

Minimu

m1 1 2 1 1 1

Maximu

m7 7 7 7 7 7

Table 6.5 – Statistic for the parameter which attract for purchase of Diamond

jewellery



Since the mean, median and mode is highest for the New Collection it is the most

important parameter which attract women for the purchase of the Diamond jewellery

followed by Wide Range, Brand Name, Exhibition, Promotion and the least preferred

parameter is Celebrity Endorsement.



Ho: There is no significance difference among the women in the parameters such as



jewellery.

Ha: There is a significance difference among the women in the parameters such as



jewellery.


SUMMARY


Varianc

e

Celebrity endorsement 100 306 3.06 3.2489

Promotion 100 392 3.92 2.4582

Wide Variety of Designs 100 545 5.45 1.8662

Brand Name 100 466 4.66 2.9943

Exhibition 100 401 4.01 2.7777

New Collection 100 551 5.51 2.0908

ANOVA


Between Groups

457.2

9 5 91.459 35.55 7E-32 2.2292

Within Groups

1528.

2 594 2.5727

Total

1985.

5 599



Table 6.6 – Anova for the parameter which attract for purchase of Diamond

jewellery




Hence there is a significance difference among the women in the parameters such as

Celebrity endorsement, Promotion, Wide Variety of designs, Brand Name, Exhibition

and New Collection which attract them for the purchase of Diamond jewellery.



Q12. Rate the following statements with the following options given below:

Strongly

Disagree

Disagree Neutral Agree Strongly

Agree

Buying an Diamond jewellery is a

thoughtful process

Certification plays an important role

in purchase of Diamond jewellery

Purchase of Diamond jewellery is

mostly preferred from the family

jeweler compared to that of branded

jewellery store

Fashion show of Diamond jewellery

influences the purchase of Diamond

jewellery

Diamond jewellery is considered as

status symbol for most of the women

Purchase of Diamond jewellery by

women is influenced by Celebrity

endorsement

Gold jewellery has more variety in

designs compared to that of Diamond

jewellery



Statistics

Thought

ful_Proc

ess

Imp_of

_Certifi

cation

Family_Jewele

r_over_Brand

ed_Jewellery

Influence_

of_Fashio

n_Show

Status_

Symbol

Influence_of_

Celebrity_En

dorsement

Design_G

old_over_

Diamond

N Valid 100 100 100 100 100 100 100

Mean 4.17 4.05 3.33 2.98 4.29 2.93 3.18

Std. Error

of Mean.075 .098 .120 .108 .077 .114 .126

Median 4.00 4.00 3.50 3.00 4.00 3.00 3.00

Mode 4 4 4 3 5 2 4

Std.

Deviation.753 .978 1.198 1.082 .769 1.139 1.258

Variance .567 .957 1.435 1.171 .592 1.298 1.583

Minimum 2 1 1 1 2 1 1

Maximum 5 5 5 5 5 5 5

Table 6.7 – Statistic for Different Statements



Ho: Buying a Diamond Jewellery is not a thoughtful process

Ha: Buying a Diamond Jewellery is a thoughtful process

Thoughtful_Process

Observed N Expected N Residual

Disagree 2 25.0 -23.0

Neutral 15 25.0 -10.0

Agree 47 25.0 22.0

Strongly Agree 36 25.0 11.0

Total 100

Table 6.8 – Observed and Expected value for Thoughtful Process

Test Statistics

Thoughtful_Process

Chi-Square 49.360a

Df 3

Asymp. Sig. .000

Table 6.9 – Test Statistics for Thoughtful Process


Hence, Buying a Diamond jewellery is a thoughtful process.



Ho: Certification does not play an important role in purchase of Diamond jewellery

Ha: Certification plays an important role in purchase of Diamond jewellery

Imp_of_Certification


Strongly Disagree 1 20.0 -19.0

Disagree 10 20.0 -10.0

Neutral 9 20.0 -11.0

Agree 43 20.0 23.0


Total 100

Table 6.10 – Observed and Expected value for Importance of Certification

Test Statistics

Imp_of_Certification

Chi-Square 70.000a

Df 4

Asymp. Sig. .000

Table 6.11 – Test Statistics for Importance of Certification


Hence, Certification plays an important role in purchase of Diamond jewellery.



Ho: Purchase of Diamond jewellery is not preferred from the family jeweller compared

to that of Branded Diamond Jewellery

Ha: Purchase of Diamond jewellery is preferred from the family jeweller compared to that of

Branded Diamond Jewellery

Family_Jeweller_over_Branded_Jewellery



Disagree 21 20.0 1.0

Neutral 22 20.0 2.0

Agree 32 20.0 12.0

Strongly Agree 18 20.0 -2.0

Total 100

Table 6.12 – Observed and Expected value for preference of Family jeweller over

Branded jewellery store

Test Statistics

Family_Jeweller_over_Branded_Jewellery

Chi-Square 16.100a

Df 4

Asymp. Sig. .003

Table 6.13 – Test Statistics for preference of Family jeweller over Branded

jewellery store




Hence, Purchase of Diamond jewellery is preferred from the family jeweller compared

to that of Diamond Jewellery.



Ho: Fashion show of Diamond jewellery does not influences the purchase of Diamond

jewellery

Ha: Fashion show of Diamond jewellery influence the purchase of Diamond jewellery

Influence_of_Fashion_Show




Neutral 38 20.0 18.0

Agree 19 20.0 -1.0


Total 100

Table 6.14 – Observed and Expected value Influence of Fashion show

Test Statistics

Influence_of_Fashion_Show

Chi-Square 29.700a

Df 4

Asymp. Sig. .000

Table 6.15 – Test Statistics for Influence of Fashion show


Hence, Fashion show of Diamond jewellery influences the purchase of Diamond

jewellery.



Ho: Diamond jewellery is not considered as status symbol for most of the women

Ha: Diamond jewellery is considered as status symbol for most of the women

Status_Symbol


Disagree 3 25.0 -22.0

Neutral 10 25.0 -15.0

Agree 42 25.0 17.0


Total 100

Table 6.16 – Observed and Expected value for Status Symbol

Test Statistics

Status_Symbol

Chi-Square 55.920a

Df 3

Asymp. Sig. .000

Table 6.17 – Test Statistic for Status Symbol


Hence, Diamond jewellery is considered as status symbol for most of the women.



Ho: Purchase of Diamond jewellery is not influenced by Celebrity endorsement

Ha: Purchase of Diamond jewellery is influenced by Celebrity endorsement

Influence_of_Celebrity_Endorsement



Disagree 31 20.0 11.0

Neutral 28 20.0 8.0

Agree 22 20.0 2.0


Total 100

Table 6.18 – Observed and Expected value for Celebrity Endorsement

Test Statistics

Influence_of_Celebrity_Endorsement

Chi-Square 20.500a

df 4

Asymp. Sig. .000

Table 6.19 – Test Statistics for Celebrity Endorsement


Hence, Purchase of Diamond jewellery is influenced by Celebrity endorsement but it its

mean, median and mode is the lowest among all the other parameter thus celebrity

endorsement is of least important.



Ho: Gold jewellery does not have more variety in designs compared to that of Diamond

jewellery

Ha: Gold Jewellery has more variety in designs compared to that of Diamond jewellery

Design_Gold_over_Diamond




Neutral 24 20.0 4.0

Agree 27 20.0 7.0


Total 100

Table 6.20 – Observed and Expected value for Gold jewellery having more design

over Diamond jewellery

Test Statistics

Design_Gold_over_Diamond

Chi-Square 7.800a

Df 4

Asymp. Sig. .099

Table 6.21 – Test Statistics for Gold jewellery having more design over Diamond

jewellery

Since the p-value is greater than 0.05, at 95% significance level we accept the Ho.

Hence, Gold jewellery does not have more variety in designs compared to that of

Diamond jewellery



6.1 Summary

Most of the women respondent owned diamond jewellery and among those who

did not owned there are the higher percentage of women who are willing to buy

Diamond jewellery in 6 months time. Hence the market growth potential for

Diamond jewellery market is very high.

The women respondents who has the purchasing power of purchasing Diamond

jewellery but do not own it and they are not planning to buy Diamond jewellery

in 6 months time these women prefer to buy Ruby, Pearl, Topaz, Blue Sapphire

and Emerald.

Among Diamond jewellery such as Bracelet, Earring, Necklace, Pendant and Ring,

Ring is the most preferred jewellery followed by Earring, Pendant, Necklace and

least preferred is Bracelet.

Most of the women target price for purchasing Diamond jewellery is Rs.15,000 to

Rs.50,000.

Women prefer to buy Diamond jewellery from the family jeweller but the

number of women purchasing Diamond jewellery from big jewellery Store is also

quite high. There are a small percentage of women who prefer to buy Diamond

jewellery from shopping mall and no women prefer buying Diamond jewellery

from e-shopping.

In the different Diamond jewellery combinations Diamond with Platinum is the

most preferred combination by women followed by Diamond with Gold,

Diamond with Silver and the Diamond with Coloured Stone is the least preferred

combination.



In the purchase of Diamond jewellery importance given by women to Clarity is

the highest followed by Cut, Carat, Trust in Brand, Size, Price, Colour and the

least preferred parameter is Popularity of the Brand.

On the occasion of Anniversary evergreen design is most preferred by women,

on the occasion of Birthday trendy design is most preferred by women, on the

occasion of Engagement traditional design is most preferred by women, on the

occasion of Festivals traditional design is most preferred by women, on the

occasion of Valentine’s Day trendy design is most preferred by women and on

the occasion of Wedding traditional design is most preferred by women.

Among women most of the women prefer buying Diamond jewellery with

certification and were few women prefer to buy Diamond jewellery without

certification.

Most of the women are ready to spend more to buy the Diamond jewellery with

certification and they are easily ready to spend 4 to 8 percent more on the

Diamond jewellery compared to that of uncertified Diamond jewellery.

Among the women respondent the thing which attract the most towards the

purchase of Diamond jewellery is the New Collection followed by Wide Range of

design, Brand Name, Exhibition, Promotion and the least preferred parameter is

Celebrity Endorsement.

For all the women respondent agreed that buying an diamond jewellery is an

thoughtful process, Certification of diamond jewellery is important to them,

family jeweller has more preference than big jeweller store in purchase of

Diamond jewellery, Diamond jewellery is considered as status symbol for most

of the women, the influence of celebrity endorsement on the purchase of

Diamond jewellery is least, Diamond jewellery has the equal variety of design



compared to that of Gold jewellery and the influence of fashion show of Diamond

jewellery on the purchase of Diamond jewellery is very less.

Chapter7: Recommendations

Diamond jewellery industry is expected to grow at a higher rate as there quite

higher number women who would prefer buying Diamond jewellery and

Diamond jewellery is considered as the status symbol among the women.

There should more variety and range in Ring diamond jewellery as this is the

most preferred by women as it has an emotional attachment for women.

Family jeweller is preferred the most for buying the Diamond jewellery but big

jewellery store is catching up so the companies should focus on providing more

number of branded outlets and should not concentrate on trying to improve

sales from shopping malls.

There should be more designs and variety in Diamond jewellery combination

with platinum.

Clarity is most considered parameter in purchase of Diamond jewellery and

women are ready to spend more for acquiring it, so this parameter should be

given more importance.

There should be more traditional design in Diamond jewellery during the

wedding season i.e during summers and winter holidays.

Certified Diamond jewellery should be charged around 6 to 8 percent more than

the uncertified diamond jewellery as women prefer Diamond jewellery with

certification and they are easily ready to spend more on it.



Launch of new collection attracts women to purchase Diamond jewellery and

celebrity endorsement doesn’t attract women or least attracts women to

purchase Diamond jewellery. Hence the companies should not do celebrity

endorsement.

There is a myth that gold jewellery has more variety compared to that of

Diamond jewellery and women feel there is a equal variety of design in Diamond

jewellery compared to that of Diamond jewellery.



Annexure

a) Questionnaire

Q1. Do you own Diamond jewellery?

Yes No

If ‘Yes’ go to Q3.

If ‘No’ are you planning to buy Diamond jewellery in 6 months time?

Yes No

If ‘Yes’ go to Q3.

Q2. Which other stone you would prefer to buy other than Diamond?

__________________________________________________________

Q3. What kind of Diamond jewellery would you prefer wearing? (Multiple Choice)

Bracelet

Earring

Necklace

Pendant

Ring

From the above selection which one is the most important for you? (Any One Only)



____________________________________________________



Why do you prefer this over others mentioned above?

__________________________________________________________________

Q4. What is your target price range for buying Diamond jewellery?

Below Rs.15000

Rs. 15000 - Rs. 30,000

Rs. 30,001 - Rs. 50,000

Above Rs. 50,000

Q5. Where would you prefer buying your Diamond jewellery from?

E-Shopping

Family jeweler

Shopping malls

Big jewellery stores

Other (please specify) __________________________________________

Q6. Rate the following parameters under which segment Diamond jewellery is mostly

preferred by you? (Where 1 = Least important and 7 = Most important)

1 2 3 4 5 6 7

Diamond with Colored stone

Diamond with Gold

Diamond with Platinum

Diamond with Silver



Q7. Rate the following parameters between 1 to 7, to whom you give prime importance

in purchase of Diamond jewellery? (Where 1 = Least important and 7 = Most important)

1 2 3 4 5 6 7

Carat

Clarity

Color

Cut

Price

Popularity of the Brand

Trust in the Brand

Size

Q8. What sort of design do you prefer in diamond jewellery in the following situation?

Trendy Traditional Evergreen Doesn’t Matter

Anniversary

Birthday

Engagement

Festivals

Valentine’s Day

Wedding

Others (please specify

below)



Q9. What kind of Diamond jewellery do you prefer?

Any Certified jewellery

Branded jewellery with certification

Jewellery from family jeweler without certification

Jewellery from family jeweler with certification

Others (please specify) ______________________________________________

Q10. Would you be ready to spend more money to get Certified Diamond jewellery?

Yes No

If ‘Yes’ how much percentage of money, extra will you pay compared with uncertified

jewellery?

2% 4% 6% 8% 10%



Q11. Rate the following parameters which attract you towards diamond jewellery purchase? (Where 1 = Least important and 7 = Most important)

1 2 3 4 5 6 7

Celebrity endorsement

Promotion

Wide variety of designs to choose

from

Brand Name

Exhibitions

New collections

Others(please specify below)



Q12. Rate the following statements with the following options given below

Strongly

Disagree

Disagree Neutral Agree Strongly

Agree

Buying an Diamond jewellery is a

thoughtful process

Certification plays an important role

in purchase of Diamond jewellery

Purchase of Diamond jewellery is

mostly preferred from the family

jeweler compared to that of branded

jewellery store

Fashion show of Diamond jewellery

influences the purchase of Diamond

jewellery

Diamond jewellery is considered as

status symbol for most of the women

Purchase of Diamond jewellery by

women is influenced by Celebrity

endorsement

Gold jewellery has more variety in

designs compared to that of Diamond

jewellery



a) List of Tables

Sr. No. Name Page No.

6.1 Statistic for Diamond with Different Combination 56

6.2 Anova for Different Combination of Diamond jewellery 58

6.3 Statistic for the preference of Characteristic of Diamond jewellery 60

6.4 Anova for the preference of Characteristic of Diamond jewellery 61

6.5 Statistic for the parameter which attract for purchase of Diamond

jewellery

69

6.6 Anova for the parameter which attract for purchase of Diamond

jewellery

71

6.7 Statistic for Different Statements 74

6.8 Observed and Expected value for Thoughtful Process 75

6.9 Test Statistics for Thoughtful Process 75

6.10 Observed and Expected value for Importance of Certification 76

6.11 Test Statistics for Importance of Certification 76

6.12 Observed and Expected value for preference of Family jeweller

over Branded jewellery store

77

6.13 Test Statistics for preference of Family jeweller over Branded

jewellery store

77

6.14 Observed and Expected value Influence of Fashion show 78

6.15 Test Statistics for Influence of Fashion show 78

6.16 Observed and Expected value for Status Symbol 79

6.17 Test Statistic for Status Symbol 79

6.18 Observed and Expected value for Celebrity Endorsement 80

6.19 Test Statistics for Celebrity Endorsement 80

6.20 Observed and Expected value for Gold jewellery having more

design over Diamond jewellery

81

6.21 Test Statistics for Gold jewellery having more design over 81



Diamond jewellery



b) List of Figures

Sr. No. Name Page No.

1.1 Indian Gems & Jewellery Export in Dec-09 6

2.1 Grouping of Diamond mine according to the location 12

2.2 Market Share of Major Players in Diamond Industry 14

2.3 Different shapes of Diamond 27

2.4 Different Angles of Cut 28

2.5 Types of Grading for Colour in Diamonds 29

2.6 Types of Carat for Diamond 29

2.7 Types of Clarity in Diamond 30

2.8 Diamond Anatomy 31

3.1 Process of Consumer Buying Decision 34

4.1 Different type of Cut in Diamond 39

6.1 Ownership of Diamond Jewellery 49

6.2 Buying Diamond jewellery in 6 months time 50

6.3 Preference of other stone on Diamond Jewellery 51

6.4 Preference on type of Diamond Jewellery 52

6.5 Most important Diamond jewellery type of Diamond Jewellery 53

6.6 Target price for buying Diamond Jewellery 54

6.7 Store preferred for buying Diamond jewellery 55

6.8 Designs preferred for different occasion 63

6.9 Preference for Certification of Diamond jewellery 65

6.10 Ready to spend more money for Certification 66

6.11 Percentage of Money women like to play more for certification 67



Bibliography

Web Sites

ho.shrenuj.com

www.fine-jewellery.com

www.gitanjaligroup.com

www.gjepc.org

www.ibef.org

www.moneycontrol.com

www.myadora.com

www.rosyblue.com

www.sheetalgroup.com

www.tanishq.co.in

Magazines

Diamond Digest

International Business Times

National Jeweller

The Art of Jewellery Making

Books

Consumer Behaviour Basic Findings & Management Implications

Marketing Whitebook


Diamond Jewellery Industry

Documents

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