Group No. 1 CIBB Assignment

8/3/2019 Group No. 1 CIBB Assignment

1/43

Project Report

On

Buying behaviour of gold

with regards toTanishq

Submitted by MMS-M:

Shubham Desai 77 Rajesh Singh 111

Umesh Mishra 87

Pranit Raorane 97

Rohit Srimal 116

Hitesh Bramhabhatt 70

Suresh Vishwakarma 120

Under the guidance of-

Prof. Yogesh Funde

1


2/43

PART A

2


3/43

1) Consumer Self-Concept and Attitudes

Concept of Self-Concept

Self-Concept/Image

Consumers have a variety of enduring images of themselves. By having a Self-concept, every

consumer (individual) believes that he/she possesses certain characteristics, traits and values.

These self-images, or perceptions of self, are very closely associated with personality in that

individuals tend to buy products and services and patronize brands whose images or

personalities relate in some meaningful way to their own self-images.

In essence, consumers seek to depict themselves in their brand choices they tend to

approach products with images that could enhance their self-concept and avoid those

products that not. Brand Image

Unlike popular belief, marketers dont make brands, consumer does. Consumers tend to

attribute various descriptive personality-like traits or characteristics to different brands.

Marketers do Brand Personification, which is to recast consumers perception of the

attributes of a product or service into a human-like character. Marketers do so, To personify

and humanize their model consumer

Example:-

Mountain Dew Vs Mirinda

3


4/43

Vs

Mountain Dew projects that it is a Dare Devil brand who jumps from mountains, dirt bikes

down a mountain, does sky diving. The tag line communicates the same very effectively

which says, Darr Ke Aage, Jeet Hai

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

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

Mirindaprojects that it is a Mad brand, bubbly and unpredictable in nature who does masti

in the Bidai scene, welcomes a romeo inside home teaches him a lesson. The tag line

communicates the same very effectively which says, Pagalpanti bhi zaroori hai

http://www.youtube.com/watch?v=k8kblZC8VnI

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

Both these brands created these images from themselves by using dramatization in their

TVCs.

Consumers use brands to help them in their task of branding (defining) themselves. There are

two kinds of self-concepts most important for a marketer;

1. Expected self How consumers expect to see themselves at some specified future

time

2. Ought-to self Consists of traits or characteristics that an individual believes it is his

or her duty or obligation to possess.

4
http://www.youtube.com/watch?v=sV-AygA9VP0&feature=relatedhttp://www.youtube.com/watch?v=zfuzgNK5qjA&feature=relatedhttp://www.youtube.com/watch?v=k8kblZC8VnIhttp://www.youtube.com/watch?NR=1&v=n4-_-9AW4hghttp://www.youtube.com/watch?v=sV-AygA9VP0&feature=relatedhttp://www.youtube.com/watch?v=zfuzgNK5qjA&feature=relatedhttp://www.youtube.com/watch?v=k8kblZC8VnIhttp://www.youtube.com/watch?NR=1&v=n4-_-9AW4hg


5/43

Buyers self concept plays an important role in purchase of both the brands whose target

group is Youth and project brand personality traits common in Youth.

The ought-to self concept of most youngsters (specifically male) says that being a Dare

Devil is cool and they ought to be one. While in normal life, they might not get opportunity

to prove the same to them or peer group. So, they find the easy way out by consuming

Mountain Dew. Also, those who already believe that they are dare devils and dont get

opportunity to project the same consume Mountain Dew.

Similar is the case with Mirinda, only thing different is that its a different trait this time,

Madness..crazy.pagalpanti. This enhances the personality of those who forcefully do

Ajeeb-Garib activities to project the same.

2) Consumer Attitude

An attitude is a learned predisposition to believe in a consistently favorable or unfavorable

way with respect to a given object.

The most common sources of influence on consumer attitude formation are as follows:

1. Mass Media This source of influence plays most important role in attitude

formation for categories in which product/services real attributes do not clearly

personify the brand. In case of both Dew and Mirinda, the attitude towards the brands

largely depends on the attitude of the consumer towards the advertisement in the

mass media.

Here, the marketer must come up with creative advertisements that creates a liking in the

minds of the consumers.

2. Personal Experience Consumers form an attitude towards a product/service by the

direct experience of trying and evaluating it. In the above case, direct experience of

consumption of Mountain Dew and Mirinda is to do with the taste of the drink

complemented by the experience of the colors and design used in the packaging of

the bottles. Also availability of the brand in a retail store when consumer asks for it

helps in attitude formation.

Here, the implication for the marketer is to maintain consistency of imagery shown via mass

media & packaging and maintaining the availability of the product in the market across

various channels.

3. Friends Young consumers also form attitude towards Dew and Mirinda on basis of

the attitudes of their friends. Here, marketer cant really do much to ensure this

5


6/43

source of influence is in favor of its brand but to take care of the above two sources

of influence.

3) Consumer learningKelloggs Corn Flakes was a failed product for a long time due to poor consumer learning.

Kellogg positioned itself as a healthy breakfast alternative for heavy traditional Indian

breakfast. With a huge segment of population as overweight, Kellogg was the right product at

the right time but the Indian consumers did not get the Kellogg fever.

Samsung Galaxy Tab is a big success in India partially due to the Tablet boom globally after

Apple Ipads launch into the industry. But a significant part of its success can be attributed to

consumer learning. The consumers were quick to learn about the attributes and value offered

by Galaxy Tab at the given Price point which was much lower than that of Ipad.

4) Child learning

A child learns by observing the environment including parents, family & friends and today a

lot because of mass media and Internet exposure. Today, children learn about products

online. My nine year old niece plays online community games on a website called Girls

Sense where she dresses and does wardrobe designing for her virtual consumers. The result

of this is that she has already started taking choices as to what she will wear. She tells her

mother that pink color is too girly for a party and black is the ideal color with a dangler in

ear. This is how her learning as a clothing consumer has happened and she clearly

communicates her choices to her parents.

She thinks Hana Montana is the most intelligent and good looking girl on earth and follows

her relentlessly. Any product that Hana Montana uses or endorses is successful for her and

any product she doesnt is a failure. So, television teen artists are serious influences to

growing kids.

5) Subculture

Successful brand

We have chosen Oh! Calcutta as a successful brand targeting a sub-culture. AS the name

suggests, it targets sub-culture based on language and region; Bengalis or people who take

pride in being natives of the football crazy city Kolkata.

6


7/43

The core consumer insight which marks the success of Oh! Calcutta is that Bengalis take a

lot of pride in their cuisine and are very choosy about their food. The restaurant took this

consumer insight to fill the gap of a restaurant that offers authentic traditional Bengali food.

One could find a Punjabi, South Indian, Malwani or a Gujarati food anywhere, but there was

a gap for Bengali food.

Oh! Calcutta is an ode, a celebration to the romantic city of Calcutta and its gastronomic

delights. It offers a diverse and traditional fare of authentic Bengali cuisine that is

reminiscent of Kolkata as it once was.

The cuisine at Oh! Calcutta is, of course, quintessential Bengali. Their chefs regularly source

rare ingredients from Kolkata, visiting small hamlets in search of a unique dish. The whole

point of the exercise is to consistently surprise the palate to ensure a constant stream of

unique experiences.

Festive season Ad

http://www.youtube.com/watch?v=ucX8xCOU4qw

The above Ad is a Peter England Ad shown in 2010 on the occasion of Onam in Kerala. The

message content in the Ad was subtly customized for Onam by adding a contemporary

sounding traditional Malyali sound track in the background targeting the young professionals

for their special Onam collection. Also, they used Chennai Super Kings players as the

celebrity endorsers in the Ad to get that local connect. The medium was Television via TVC.

The intent was to inform the TG about their latest Onam collection.

7
http://www.youtube.com/watch?v=ucX8xCOU4qwhttp://www.youtube.com/watch?v=ucX8xCOU4qw


8/43

PART B

Parquets Article Review

1-Advertising & consumer behaviour

This paper epitomizes the substance of advertising on the purchasing behavior of the

consumers. Likeability, persuasiveness and brand personality created by the advertisement

are the key factors which weight the intentions of the consumers regarding the brand and the

purchasing behaviour. With more ad likeability the purchase behavior will be strongly

influenced. A creative and well executed ad has the power to persuade the consumers

regarding their purchase decisions and behavior. Similarly brand personality created in the ad

has a direct impact on the purchasing behavior of the buyer because the users relate the

brand dimensions with their own personality traits. Therefore the paper concludes that the

positive impact of all these dynamics on the buying behavior of the consumer actually

8


9/43

escorts towards consumer brand loyalty which is the main dimension of getting competitive

lead in this dynamic era.

2-Retail music & consumer behaviour

The goal of the present empirical research was to study the effects atmospheric music in

retail organizations on consumer evaluative and behavioral responses. Specifically, the

effects of how background music fit with the retail image are examined in two retail formats,

and music effects contrasted between retail stores with planned and unplanned atmospheric

music. Based on the existing body of theoretical and empirical, five research hypotheses are

developed and subsequently tested using field data. Data of adult shoppers are analyzed via

Structural Equation Modeling. Findings reveal insightful implications for the management of

retail branding and for future research on in-store music effects.

9


10/43

PART C

INDEX

Sr.

No.

Topic

1.

Introduction

1.1 Tanishq profile About The Research

1.2 Purpose Of The Research

1.3 Problem Of The Research

1.4 Objective Of The Research

1.5 Limitations Of The Research

1.6 Hypothesis Of The Research

2.

Sample

2.1 Sampling Frame10


11/43

2.2 Sampling Unit

2.3 Sample Size

2.4 Sample Size Selection

3.

Research Methodology

3.1 Research Tools

3.2 Exploratory Research

4.

Questionnaire Survey

4.1 Descriptive Research

5.

Detailed Findings

6. Recommendation & Conclusion

7. Bibliography

1) INTRODUCTION

1.1 TANISHQ PROFILE

Evolution of Tanishq

Titan came into existence in July 1984, when the Tata Group joined hands with the Tamil

Nadu Industrial Development Corporation (TIDCO) to make a foray into the watch industry.

11


12/43

Titan started manufacturing jewellery watches and jewellery in 1994. It set up its fully

integrated Rs. 400 million-jewellery plant in Hosur. The plant had the capacity to

manufacture four tonnes of gold in a year. Titan launched these products under the brand

name of Tanishq, in 1995. The name Tanishq, a blend of two words, 'tan' (body) and 'ishq'

(love), was coined by Xerxes Desai, the Vice-Chairman and Managing Director of Titan.

To change its image from a watch manufacturer to a fashion accessories manufacturer, Titan

was renamed Titan Industries Ltd. in 1995. Titan scaled the capacity of its Hosur plant to

4.18 million units in 1996 to meet the domestic and international demand. From the

late 1990s, Titan's commitment to the jewellery business increased.

When Titan launched Tanishq in 1995, the jewellery industry in India valued at Rs 40,000

crore was mostly unorganized, with around 3.5 lakh players. Before 1992, only the Metal

and Mineral Trading Corporation and the State Bank of India were allowed to import gold. In

1992, as part of economic liberalization, the government abolished the Gold Control Act of

1962, allowing free import of gold. In 1993, private companies were allowed to enter the

hitherto restricted gold and diamond mining industry. Foreign investors were allowed to hold

up to 50% equity in mining ventures.

SWOT ANALYSIS

12


13/43

STRENGTH

Purity (karat meter)

Distribution network and retailing store

Award winning designs diversity in jewellery gold/diamond/platinum

Competitive prices

Distribution network and retailing store are in place for the company with 130 stores

countrywide. Mind boggling/award winning designs have come for the company. Diversity

in jewellery gold/diamond/platinum enhances the product range of the company. We also

have competitive prices for the entire product ranges as compared to the competitors.

WEAKNESS

Capture Rs 70,000-crore Escalated gold costs lower margins

THREATS Competition

Lack of Skilled workers

Gold not seen as s source of investment. (Luxury is needed).

Purity of jewellrey through karat meter is still the sign of total purity.

Distribution network and retailing store are in place for the company with 130 stores

countrywide. Mind boggling/award winning designs have come for the company. Diversity

in jewellery gold/diamond/platinum enhances the product range of the company. We also

have competitive prices for the entire product ranges as compared to the competitors.

Capture Rs 70,000-crore Indian jewellery market. Tanishq comprises a small share of theoverall Rs 70,000-crore Indian jewellery market and hence it needs to increase its market

share in this huge industry. Escalated gold costs has caused lower margins is to push sales

as much as possible.

OPPORTUNITIES

13


14/43

Global markets like USA needs to be looked at.

Low cost and easy to wear jewellery should be further promoted.

Customized jewellery designs should provided to the customers. Concentrate on Gen-

X by having trendy jewellery. Expand retail stores in India to further increase reach.

THREATS

Competition from local jewellers all over India.

Lack of Skilled workers in jewellery industry.

Gold is no longer seen as source of investment.

People are more concerned about design and luxury.

THREE MAJOR PRODUCTS OF TANISHQ IN GOLD

Zoya

Secrets of the Egyptian pharaohs masked with the mystery of the comos; Oriental art

embellished with occidental architecture

Fashion Earrings

14


15/43

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

Wedding Collection

15


16/43

The bride blushes

ABOUT THE RESEARCH

1.2 THE PURPOSE OF THE RESEARCH

The basic purpose of this research is to find the buying behaviour of people of Mumbaitoward gold.

16


17/43

1.3 PROBLEM

To find out problem is the first stage of the research process. It represents translating the

management problem into research problem. It is right said, A problem well defined is half

solved.

Tanishq is one of the store who provides branded gold & have brand name.

Inspite of product quality , services tanishq provides why do still prefer buying gold from

local retailers.

1.4 OBJECTIVES

The objectives of the study are as follows:

1) The objective of study was to find the actual reason why people are not going to Tanishq

2) To find what they like & dislike about Tanishq.

3) On the basis of in depth interview we got 6 criteria in which we could measure the attitude

of people towards Tanishq.

1.5 LIMITATIONS

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

expected.

2. The respondents personal bias may be another factor, which is uncontrollable.

3. The finding of the survey is strictly based on the responses of the respondents. It

is difficult to find the euthenics be true, so we are assuming them to be true.

17


18/43

4. It was very difficult to explain the respondents about how to fill the questionnaire &

it took time for data collection.

1.6 Hypothesis

1. Price does not affect the buying of gold.

2. Quality of gold does not effect the buying of gold

3. Service does not effect the buying of gold

4. Pattern does not effect buying of gold

5. Location of store does not effect buying behaviour of gold.

6. Ambiance of store effect buying behaviour of gold.

VIEW ABOUT THE TOPIC

2) SAMPLE

2.1 SAMPLING FRAME:

18


19/43

A Sampling frame consists of a list of item from which the sample is to be drawn.

The sample frame for this research constitutes all the customers who have visited Tanishq

store for purchasing gold.

2.2 SAMPLING UNIT:

A decision has to be taken concerning a sampling unit before selecting sample sampling unit

may be a geographical one, a construction unit, a social unit or it may be an individual.

The sample unit for this research constitutes the organization that is Tanishq only dealer in

Mumbai

2.3 SAMPLE SIZE

The sample size of our research was 150 but only 121 people have visited tanishq store.

2.4 SAMPLE SIZE SELECTION

Sample size was selected on the basis of the 3 factors.

a) It was difficult to locate the customer who have visited to tanishq.

b) The respondents were not much educated so it was difficult to make them understand

about the questionnaire.

c) People were not easily available outside Tanishq.

3) RESEARCH METHODOLOGY

3.1 Research tool used for the research

PRIMARY DATA

19


20/43


21/43

In the interview we asked him diffrent question regarding the sales & their way of

operation & different aspects about tanishq.

From the answers given by Mr Abhishek we found that major reason why people are not

turning out towards Tanishq is because of Price a bit higher & pattern availability in

tanishq . He also told us the major reason why people are coming to tanishq is the quality of

gold & services provided by them. He also said that people who loves the ambiance of store

may affect the buying decision.

Then we interviewed ,

Mr. Azad, the owner of Payal jwellers of suburb & we asked him the same questions what we

asked Mr.Abhishek

We found that,

a) Major people who buy gold from there are their regular customers from long time

b) The people have trust on the purity of gold

c) He also said that people are having bad experience of going to tanishq as the price of gold

is more than what they are paying to normal retailers.

d) He also said that people of Mumbai are more price councius & not quality concius.

e) He also said that patterns which are available with

them are the same or much more compared to tanishq people.

From the detailed interview of these 2 people we thought that major reasons which can effect

the purchase decision of people buying gold are:

21


22/43

1) Price

2) Quality

3) Service

4) Availability of pattern

5) Proximity to market

6) Ambiance of store

5) DETAILED FINDINGS

OVER ALL SAMPLE SIZE

The sample was 150 but out of which 29 people did not went to Tanishq for buying of gold.

So our sample size came to 121.

22


23/43

(These were the people who said they have earlier visited Tanishq & again gone for

repurchase.)

SEGMENTATION ACCORDING TO GENDER

Out of 121 there were 65 female that constitute 54% of total sample & rest are male they are

56 which contributes 46% of total sample

ANNUAL INCOME OF RESPONDENTS

The respondents average income lies from 5000 to 30000 & above so respondents were

a) 5000 10000 = 6

b) 10000 20000 = 11

c) 20000 30000 = 18

d) 30000 & above = 86

HYPOTHESIS TESTING

X2 = (o-e)2/ e

1) Price does not affect the buying of gold.

23


24/43

Price

Particular 1 2 3 4 5 Total

1 3 12 11 4 0 30

2 8 15 31 12 0 663 1 0 6 7 4 18

4 0 0 1 1 2 4

5 0 0 0 1 2 3

Total 12 27 49 25 8 121

Observed Expected o-e (o-e)^2 ((o-e)^2)/e)

3 2.97 0.03 0.0009 0.000303

12 6.69 5.31 28.1961 4.214664

11 12.14 -1.14 1.2996 0.107051

4 6.19 -2.19 4.7961 0.774814

0 1.98 -1.98 3.9204 1.98

8 6.54 1.46 2.1316 0.325933

15 14.72 0.28 0.0784 0.005326

31 26.2 4.8 23.04 0.879389

12 13.63 -1.63 2.6569 0.19493

0 4.36 -4.36 19.0096 4.36

1 1.78 -0.78 0.6084 0.341798

0 4.01 -4.01 16.0801 4.01

6 7.28 -1.28 1.6384 0.2250557 3.71 3.29 10.8241 2.917547

4 1.19 2.81 7.8961 6.635378

0 0.39 -0.39 0.1521 0.39

0 0.89 -0.89 0.7921 0.89

1 1.61 -0.61 0.3721 0.231118

1 0.82 0.18 0.0324 0.039512

2 0.26 1.74 3.0276 11.64462

0 0.29 -0.29 0.0841 0.29

0 0.66 -0.66 0.4356 0.66

0 1.21 -1.21 1.4641 1.211 0.61 0.39 0.5121 0.249344

2 0.19 1.81 3.2761 17.24263

Total 59.8194

The hypothesis of these question is that the price does not effect the buying behavior of

consumer that is Ho.

So from the calculation we got the value of Ho as 59.8149

24


25/43

So when compared to tabulated value of the number that is (r-1)*(c-1) gives us the tabulated

value so for my question (5-1)*(5-1) = 16 is the degree of freedom.

The value for the 16 is 26.3

So Ho>H1 so hypothesis is rejected.

2) Quality of gold does not effect the buying of gold

quality

particular 1 2 3 4 5 total

1 3 2 2 0 0 7

2 1 4 5 2 0 12

3 2 10 20 11 3 46

4 6 9 18 8 5 46

5 0 2 4 4 0 10

Total 12 27 49 25 8 121

Quality of gold

observed expected o-e 2(o-e) 2(o-e)/e

3 0.69 2.31 5.3361 7.733478

2 1.56 0.44 0.1936 0.124103

2 2.83 -0.83 0.6889 0.243428

0 1.44 -1.44 2.0736 1.44

0 0.46 -0.46 0.2116 0.46

1 1.19 -0.19 0.0361 0.030336

25


26/43

4 2.67 1.33 1.7689 0.662509

5 4.85 0.15 0.0225 0.004639

2 2.47 -0.47 0.2209 0.089433

0 0.79 -0.79 0.6241 0.79

2 4.56 -2.56 6.5536 1.43719310 10.26 -0.26 0.0676 0.006589

20 18.62 1.38 1.9044 0.102277

11 9.5 1.5 2.25 0.236842

3 3.04 -0.04 0.0016 0.000526

6 4.56 1.44 2.0736 0.454737

9 10.26 -1.26 1.5876 0.154737

18 18.62 -0.62 0.3844 0.020644

8 9.5 -1.5 2.25 0.236842

5 3.04 1.96 3.8416 1.263684

0 0.99 -0.99 0.9801 0.99

2 2.23 -0.23 0.0529 0.023722

4 4.04 -0.04 0.0016 0.000396

4 2.06 1.94 3.7636 1.82699

0 0.66 -0.66 0.4356 0.66

18.99311

The hypothesis of these question is that the Quality does not effect the buying behavior of




value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is

26.3

So Ho


27/43

3) Service does not affect buying behavior of consumer.


1 0 0 1 0 0 1

2 1 0 0 0 0 13 1 6 5 8 1 21

4 6 15 33 10 6 70

5 4 6 10 7 1 28

Total 12 27 49 25 8 121

Service


0 0.09 -0.09 0.0081 0.090 0.22 -0.22 0.0484 0.22

1 0.4 0.6 0.36 0.9

0 0.2 -0.2 0.04 0.2

0 0.06 -0.06 0.0036 0.06

1 0.09 0.91 0.8281 9.201111111

0 0.22 -0.22 0.0484 0.22

0 0.4 -0.4 0.16 0.4

0 0.2 -0.2 0.04 0.2

0 0.06 -0.06 0.0036 0.06

1 2.04 -1.04 1.0816 0.5301960786 4.68 1.32 1.7424 0.372307692

5 8.5 -3.5 12.25 1.441176471

8 4.33 3.67 13.4689 3.110600462

1 1.3 -0.3 0.09 0.069230769

6 6.94 -0.94 0.8836 0.127319885

15 15.62 -0.62 0.3844 0.024609475

33 18.35 14.65 214.6225 11.69604905

10 14.46 -4.46 19.8916 1.375629322

6 4.63 1.37 1.8769 0.40537797

4 2.78 1.22 1.4884 0.5353956836 6.25 -0.25 0.0625 0.01

27


28/43


29/43

2 5 7 16 8 3 39

3 3 11 16 7 2 39

4 3 6 4 6 1 20

5 1 1 9 4 1 17

Total 13 27 49 25 7 121


0 0.65 -0.65 0.4225 0.65

2 1.34 0.66 0.4356 0.325074627

4 0.45 3.55 12.6025 28.00555556

0 1.25 -1.25 1.5625 1.25

0 0.35 -0.35 0.1225 0.35

5 4.19 0.81 0.6561 0.156587112

7 8.7 -1.7 2.89 0.332183908

16 2.9 13.1 171.61 59.17586207

8 8.06 -0.06 0.0036 0.00044665

3 2.26 0.74 0.5476 0.242300885

3 4.19 -1.19 1.4161 0.33797136

11 8.7 2.3 5.29 0.608045977

16 2.9 13.1 171.61 59.17586207

7 8.06 -1.06 1.1236 0.139404467

2 2.26 -0.26 0.0676 0.0299115043 2.15 0.85 0.7225 0.336046512

6 4.46 1.54 2.3716 0.531748879

4 1.49 2.51 6.3001 4.228255034

6 4.13 1.87 3.4969 0.846707022

1 1.12 -0.12 0.0144 0.012857143

2 1.83 0.17 0.0289 0.01579235

1 3.79 -2.79 7.7841 2.053852243

9 1.26 7.74 59.9076 47.54571429

4 3.51 0.49 0.2401 0.068404558

1 0.98 0.02 0.0004 0.000408163 206.4189924

The hypothesis of these question is that the pattern does not effect the buying behavior of


So from the calculation we got the value of Ho 206.4282

29


30/43



26.3

So Ho>H1 so hypothesis is rejected.

So it has been analyzed that Tanishq has good variety of pattern.

5) Proximity does not affect buying of gold.


1 2 0 6 2 0 10

2 2 2 3 0 1 8

3 4 6 18 8 4 40

4 3 7 14 9 1 34

5 1 12 8 6 2 29

Total 12 27 49 25 8 121

30


31/43

The hypothesis of these question is that the proximity does not effect the buying behavior of





26.3

So Ho


32/43

6) Ambiance does not affect buying behavior of gold.

particular 1 2 3 4 5 total

1 1 2 0 4 1 72 0 6 6 2 0 12

3 5 9 11 6 2 33

4 3 9 17 8 11 48

5 4 1 14 5 4 28

total 13 27 48 25 18 121

observed expected o-e 2(o-e) 2(o-e)/e

1 0.75 0.25 0.0625 0.083333

1 1.56 -0.56 0.3136 0.201026

0 2.78 -2.78 7.7284 2.78

4 1.45 2.55 6.5025 4.484483

1 0.46 0.54 0.2916 0.633913

0 1.07 -1.07 1.1449 1.07

2 2.23 -0.23 0.0529 0.0237226 3.97 2.03 4.1209 1.03801

32


33/43

2 2.07 -0.07 0.0049 0.002367

0 0.66 -0.66 0.4356 0.66

5 3.22 1.78 3.1684 0.983975

6 6.69 -0.69 0.4761 0.071166

11 11.9 -0.9 0.81 0.068067

6 6.2 -0.2 0.04 0.006452

2 1.98 0.02 0.0004 0.000202

3 4.08 -1.08 1.1664 0.285882

9 8.48 0.52 0.2704 0.031887

17 15.07 1.93 3.7249 0.247173

8 7.85 0.15 0.0225 0.002866

1 2.51 -1.51 2.2801 0.908406

4 3.87 0.13 0.0169 0.004367

9 8.03 0.97 0.9409 0.117173

14 14.28 -0.28 0.0784 0.00549

5 7.44 -2.44 5.9536 0.800215

4 2.38 1.62 2.6244 1.102689

15.61287

The hypothesis of these question is that the proximity does not effect the buying behavior of

consumer that is Ho. So from the calculation we got the value of Ho as 15.61



26.3

So Ho


34/43

Questionnaire

Q 1 ) Name:-

Q 2) Gender - male female

Q 3) Age :-

Q 4) Occupation: - Service Business Others

Q 5) Monthly average INCOME(in Rs)?

5000-10000

10000-20000

20000-30000

30000 & above

Q 6) How often you visit jewellery store?

Once a month

Once a year

On Occasion

Q 7) You Buy GOLD jewellery from?

Place : Store Name:

Andheri

Khar

34


35/43

Malad

Bandra

Q 8) Do you buy jewellery from same store every time ?

Yes

No

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

following guidelines- Product are worth price you pay

Purity & quality of gold

The service you get in the store

The Number of patterns available

Proximity to market

Ambiance of Store

Q 10) Are You aware about tanishq showroom opened in Mumbai?

Yes

No

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

TV

News Paper

Hoardings

Pamphlets

Friends/relatives

Other

Q 12) Have you visited Tanishq Store?

35


36/43

Yes

No

Q 13) Rate Tanishq On flowing Criteria Given below

Particulars V.Good Good Average Bad V.bad

Price

Purity & Quality of

Gold

Service Offered

Patterns AvailableLocation of Store

Ambiance of store

Q 14) During Re-Purchase you often go to Tanishq?

Yes

No

Q 15) Would you recommend others for Buying Tanishq Products?

Yes

No

36


37/43

Interpretation

Q 8) Do you buy jewellery from same store every time ?

Yes

No

37


38/43

Q 10) Are You aware about tanishq showroom opened in Mumbai?

Yes

No

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

TV - 30

News Paper - 12

Hoardings - 07

Pamphlets - 02

Friends/relatives - 38

Other - 32

38


39/43

Q 12) Have you visited Tanishq Store?

Yes

No

Q 13) Rate Tanishq On flowing Criteria Given below

Particulars V.Good Good Average Bad V.bad

Price

Purity & Quality of

Gold

Service Offered

Patterns Available

Location of Store

Ambiance of store

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

Yes

39


40/43

No

Q 15) Would you recommend others for Buying Tanishq Products?

Yes

No

FINDINGS

40


41/43

On the basis of chi-square test the relation between the variables are significant & few

are not significant.

Variables which were significant in the research & which affects the buying behavior of gold

are-

a) Because of price people are not visiting Tanishq.

b) People are happy with the quality of Tanishq & they go to Tanishq only because the purity

& quality of gold.

c) The people also visit Tanishq because they provide better services then the other

retailers.

d) The pattern are also major factor because of which people does not prefer Tanishq.

e) The people says that the location of store is not affecting them to visit Tanishq.

f) People are not affected by the ambiance of store

From these we can conclude that people are more sencisitve towards price , Quality &

availability of pattern. If they find these 3 things ok & they fill that this is what they wanted

they will buy from there only.

For people of Mumbai ambiance , proximity to market & service are less important.

6) Recommendation & Conclusion

41


42/43

RECOMMENDATION

We would recommend Tanishq following things

a) The making charge is affecting their sales so they should cut down their prices.

b) The patterns are comparative less so they should provide more number of patterns

& also should increase their market share by bringing more innovative scheme &

loyalty programs.

c) People are more service conscious so they can target young business man & young

professional as they are now more in investing money in gold.

d) Gold price are increasing day by day so they should increase their sales by selling biscuits

of gold rather than selling more of ornaments.

CONCLUSION

People are more price conscious & they feel that the price in Tanishq are more than what the

normal retailers have. They also feel that the quality they get is much higher than the quality

what the normal retailers give. They also found that the patterns available are lesser than

what they get in the normal retail store. They also are service oriented so they are more

attracted because of service they get. People are not affected with the ambiance of the shop.

42


43/43

7) Bibliography

Web Sources

1) www.tanishq.co.in/

2) www.tanishq.co.in/sitemap

3) www.tanishqsoftware.com/CompanyProfile.php

4) www.superbrandsindia.com/images/brand.../tanishq/tanishq.htm

5) www.wand.com/core/companyprofile.aspx?mfgcode=50635670

Book referred

1) Marketing Research by Rajendra Nargundkar
http://www.tanishq.co.in/http://www.tanishq.co.in/http://www.tanishq.co.in/http://www.tanishq.co.in/http://www.tanishq.co.in/http://www.tanishq.co.in/sitemaphttp://www.tanishq.co.in/sitemaphttp://www.tanishq.co.in/sitemaphttp://www.tanishq.co.in/sitemaphttp://www.tanishqsoftware.com/CompanyProfile.phphttp://www.tanishqsoftware.com/CompanyProfile.phphttp://www.tanishqsoftware.com/CompanyProfile.phphttp://www.tanishqsoftware.com/CompanyProfile.phphttp://www.superbrandsindia.com/images/brand.../tanishq/tanishq.htmhttp://www.superbrandsindia.com/images/brand.../tanishq/tanishq.htmhttp://www.superbrandsindia.com/images/brand.../tanishq/tanishq.htmhttp://www.superbrandsindia.com/images/brand.../tanishq/tanishq.htmhttp://www.superbrandsindia.com/images/brand.../tanishq/tanishq.htmhttp://www.superbrandsindia.com/images/brand.../tanishq/tanishq.htmhttp://www.wand.com/core/companyprofile.aspx?mfgcode=50635670http://www.wand.com/core/companyprofile.aspx?mfgcode=50635670http://www.wand.com/core/companyprofile.aspx?mfgcode=50635670http://www.wand.com/core/companyprofile.aspx?mfgcode=50635670http://www.tanishq.co.in/http://www.tanishq.co.in/sitemaphttp://www.tanishqsoftware.com/CompanyProfile.phphttp://www.superbrandsindia.com/images/brand.../tanishq/tanishq.htmhttp://www.wand.com/core/companyprofile.aspx?mfgcode=50635670

Group No. 1 CIBB Assignment

Documents

Transcript of Group No. 1 CIBB Assignment