MR Proposal

Marketing Research Proposal on Jewellery Submitted to: Associate Professor, M.R.
Suresh Submitted on: 06-Feb-2014
Submitted By: Group 3, Section A Group Members: Aby Abraham Aditya VNV Apoorva P Archana A Vikas Javagal Vivek Narayanan 13003 13004 13010 13011 13059 13061
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Contents
1.0 Jewellery sector .................................................................................................................... 2 1.1 Background ...................................................................................................................... 2 1.2 Market Size and Structure ................................................................................................ 2 1.3 Competitive Landscape .................................................................................................... 2 2.0 Organizational Context ........................................................................................................ 3 3.0 Research Objective .............................................................................................................. 3 3.1 Research Questions .......................................................................................................... 3 3.2 Hypothesis........................................................................................................................ 4 3.3 Research Boundary: Time frame: 6-7 week .................................................................... 4 4.0 Research design ................................................................................................................... 4 4.1 Sampling plan .................................................................................................................. 5 4.2 Data Collection ................................................................................................................ 5 5.0 Data Analysis ....................................................................................................................... 5 6.0 Reporting.............................................................................................................................. 6
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1.0 Jewellery sector

1.1 Background
The jewellery sector has been one of the fastest-growing sectors in India in the past few years. This sector in India is highly export-oriented, labour-intensive and a major contributor to the foreign exchange earnings. The sector has gained global popularity because of its talented craftsmen, its superior practices in cutting and polishing fine diamonds and precious stones, and its cost-efficiencies. The sector has been vital to the Indian economy as well; Natural or cultured pearls, precious or semiprecious stones, and jewellery clad with precious metals and also coins accounted for 15.95% of total exports in 2013. Gold jewellery is the most preferred form of jewellery in demand in India as it is considered auspicious to purchase gold on major occasions like festivals, marriage, birth etc. Also, gold occupies the second position among all investment instruments and is considered as the safest investment option. According to the data released by the World Gold Council (WGC), India is one of the largest consumer of gold.
1.2 Market Size and Structure

The domestic gems and jewellery industry had a market size of INR 251,000 Cr in 2013, with a potential to grow to INR 500,000530,000 Cr by 2018. The sector is highly-fragmented and unorganised, and is characterised by family-owned operations. Around 96% of the gems and jewellery players have family-owned businesses, but, over the last few years, more organised players have been entering the sector.
1.3 Competitive Landscape

Titan Industries Ltds Tanishq is the largest jewellery brand in India commanding around a 3% value share. Ranked second is Gitanjali Gems Ltd with a 2% share followed by Joyalukkas, Malabar gold and Diamonds, Kalyan jewellers etc. With a major chunk of the sector being unorganized and family owned business, the branded jewellery companies have a tough competition to face. Each of the above mentioned companies have come up with various sub brands and are thriving hard to increase their market share with innovative marketing strategies.
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2.0 Organizational Context

Malabar Gold and Diamonds is the flagship division of Malabar Group of Companies, one of the fastest growing business conglomerates. From humble beginnings it is among the most trusted jewellery brand name in India & GCC with over 100+ retail outlets and 10 wholesale divisions. The company wants to focus on the sales, advertising and customer preferences at the Mysore retail outlet. Demand for gold is rising every year in the fast-developing city of Mysore, which is also witnessing a property boom. The property boom, however, has not affected the demand for gold. The demand for Mysore traditional jewellery, like necklace with swan, Ganda Bherunda (double-headed eagle) and Kade (gold bracelet) is also rising of recent. Mysore was famous for its traditional designs in gold jewellery requiring special artistry and these items are being revived again as the demand is rising.
3.0 Research Objective

The company now wishes to study Malabar gold as a brand in the minds of the consumers and retailers. This study also will cover the customer preferences, and will show a roadmap as to where Malabar Gold can focus so as to increase its sales, modify its advertising strategies if necessary and become the most popular brand in Mysore. This document outlines the best approach which is suited to carry out the study.
3.1 Research Questions

Is Malabar Gold perceived as a brand for only the upper segment? Does the price of any particular product affect the sales? What attributes/characteristics (quality, texture, materials and design) of the product attract customers? Who are the major consumer groups which are being targeted? What is the impact of celebrities on the brand and how has it affected the sales?
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3.2 Hypothesis
Major portion of branded jewellery customers fall in the age group of (20-60) and belong to upper middle or premium class.

Price plays the most important role in decision making for customers Style and design consciousness of the customers Recallable ads and promotions attracts customers Good brand image promotes sales
3.3 Research Boundary: Time frame: 6-7 week

Research would be conducted in the city of Mysore. In Mysore we will conduct research from a random selection of people in the middle, upper and premium class segments from some regions based on locality, standard of living etc. Data will also be collected from Shopping malls and supermarkets. Geographical location: within the boundary of Mysore city as defined by Municipal Corporation.
4.0 Research design

Approach: A quantitative approach will be employed.
Type of research design: Descriptive research.
Types of research conducted: Primary research: Here the information is collected by interviewing people individually and later analysis is done based on the collected data. Secondary research: Here the information which is already available from various resources like articles, internet and past data is collected to do the survey.
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Types of Interview: Face to face questionnaire type: The data is collected by conducting a survey from a sample. We can ask the consumers as to which brand they prefer and the reason behind choosing the brand. The perception of Malabar Gold also has to asked, and how the various advertisements by Malabar have influenced them need to be questioned.
4.1 Sampling plan

Population of Mysore has been recorded as around 9 Lakh in 2011. Assuming the current population to be around 10 lakh of which 25% can be considered roughly to fall in the middle, upper middle and premium class, the sample size has been calculated. Population size: Confidence Level: 2, 50,000 People (25% of 10, 00,000) 95%
Confidence Interval: 10 Sample Size: 96 People
Age group: 25-65 years old Target segment: Middle, Upper Middle and Premium Class customers Location: Mysore Further, the area is chosen considering factors like income and age group.
4.2 Data Collection

The survey will be done in the following places in the city of Mysore Shopping Malls and Supermarkets like Mall of Mysore, Big Bazaar, Loyal World etc. Jewellery retail outlets ( Both branded and unbranded)
5.0 Data Analysis

After collecting the required information, we can use various statistical tools like correlation, regression & forecasting techniques to find relations between various characteristics and thus test the hypothesis we made earlier.
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6.0 Reporting
Once the data collected is analysed, inferences shall be drawn and reported. This data would give a direction for the company considered to adopt appropriate strategies to fulfil their objective.
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MR Proposal

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MR Proposal

Uploaded by

Marketing Research Proposal on Jewellery Submitted to: Associate Professor, M.R.

Suresh Submitted on: 06-Feb-2014

1.0 Jewellery sector

1.2 Market Size and Structure

1.3 Competitive Landscape

2.0 Organizational Context

3.0 Research Objective

3.1 Research Questions

3.3 Research Boundary: Time frame: 6-7 week

4.0 Research design

Type of research design: Descriptive research.

4.1 Sampling plan

Confidence Interval: 10 Sample Size: 96 People

4.2 Data Collection

5.0 Data Analysis

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