INDEX

CHAPTER TOPIC PAGE

NO. NO.
1 Introduction 7
2 Review of Literature 44
3 Research Methodology 49

3.1 Objectives of the Study 50

3.2 Hypothesis 51

3.3 Type of Study 52

3.4 Collection of Data 53

3.5 Limitations 55

3.6 Research Gap 56

4 Data Analysis 57
5 Findings and Conclusion 76
6 Recommendations and Suggestions 79
7 Bibliography 81
 CHAPTER 1
INTRODUCTION
 1. INTRODUCTION
CONSUMER BUYING BEHAVIOR

Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A
firm needs to analyze buying behavior for:

 Buyer’s reactions to a firms marketing strategy has a great impact on the firm’s
success.
 The marketing concept stresses that a firm should create a Marketing Mix (MM)
that satisfies (gives utility to) customers, therefore need to analyze the what,
where, when and how consumers buy.
 Marketers can better predict how consumers will respond to marketing strategies.

TYPES OF CONSUMER BUYING BEHAVIOR

Types of consumer buying behavior are determined by:

 Level of Involvement in purchase decision. Importance and intensity of interest in

a product in a particular situation.
 Buyers level of involvement determines why he/she is motivated to seek
information about a certain products and brands but virtually ignores others.

High involvement purchases--Honda Motorbike, high priced goods, products visible to

others, and the higher the risk the higher the involvement. Types of risk:

 Personal risk
 Social risk
 Economic risk
The four type of consumer buying behavior are:

 Routine Response/Programmed Behavior--buying low involvement frequently

purchased low cost items; need very little search and decision effort; purchased
almost automatically. Examples include soft drinks, snack foods, milk etc.
 Limited Decision Making--buying product occasionally. When you need to
obtain information about unfamiliar brand in a familiar product category,
perhaps. Requires a moderate amount of time for information gathering.
Examples include Clothes--know product class but not the brand.
 Extensive Decision Making/Complex high involvement, unfamiliar, expensive
and/or infrequently bought products. High degree of
economic/performance/psychological risk. Examples include cars, Jewellers,
computers, education. Spend a lot of time seeking information and deciding.
Information from the companies; friends and relatives, store personnel etc. Go
through all six stages of the buying process.
 Impulse buying, no conscious planning.

The purchase of the same product does not always elicit the same Buying Behavior.
Product can shift from one category to the next.
 CHAPTER 2
REVIEW OF LITERATURE
 2. REVIEW OF LITERATURE

According to “An impact of consumer buying behavior in decision making process in

purchase of Gold Jeweller , in Aruppukottai Town : an empirical study”

S.Vijayalakshmi1, V.Mahalakshmi, Mother Teresa Women’s University,

Kodaikanal, Tamilnadu, India.

This research contributes to the perceptive of consumer buying behavior in the Gold
Jeweller , market. The key findings of the study designates that the overall set of
independent variables was weakly associated with the dependent variable. On the other
hand, the profound analysis found that social factors, physical factors, and marketing mix
elements were strongly associated with the buying behaviors of Indian consumers. These
analyses compose it potential to determine consumer decision- making rules. Furthermore,
our analysis facilitated us to recognize numerous noteworthy directions for future research.

The principal goal of this future research will be to expand methodological bases for
consumer behavior analysis using MATLAB simulation tests using the developed
methodology. As an outcome of our research, we focus to build up a computer simulation
model that will allow us to examine the consumer behavior process. The simulation model
of the Gold Jeweller , market will be elaborated with a Data mining tool approach.

According to “A STUDY ON CUSTOMER SATISFACTION TOWARDS

SELECTIVE GOLD PRODUCTS”

Dr. A. Dharmaraj Assistant Professor, Department of Management Studies &

Research, Karpagam University, Coimbatore, India

Marketing starts before production and continues after sales. Marketing is the process
of creating customers. GOLD products are liked by one and all. The study shows that most
of the sale is done on basis of sales promotion activities and JEWELLER advertisement etc.
The important attribute of the product is quality and prices should be taken care. Product
attributes like permanence and after sales service has been appreciated. It is certified that the
customer satisfaction concept is an unpredictable one in any kind of marketing but this
study has attempt its best to reveal the same.

According to “STUDY ON CONSUMER BUYING BEHAVIOUR TOWARDS

SELECTIVE GOLD JEWELLER , IN HYDERABAD CITY”

S. Vijayalakshmi1 V. Mahalakshmi2 S. Magesh

Based on this study, the researchers concluded that, people in Hyderabad city has
pertinent knowledge about diverse brands of the Gold Jeweller ,. Knowledge about Gold
Jeweller , differ based on the age level. The demographic factors like age, gender, marital
status, qualification, occupation, income and family type discriminating the buying
behavior of Jeweller , is based on this study the awareness level of Jeweller Gold Jeweller ,
are moderate in Hyderabad City. Most of the respondents have the relevant knowledge on
the renowned brands like Kazana, Bhima, GOLD, Thangamayil and other company brands.
Based on grades and rankings given by respondents, the main factors involved in selecting
Jeweller , are price then brand name, then quality, then service and the last are the other
offers given by the retailer. Respondents are not much prejudiced by retailer’s information.

The media and advertising furnishes more requisite information when compare to
other medium of dissemination of information to the public. In the case of JEWELLER,
respondents are influenced by picture quality first, then sound, then screen quality, then
size and color. In the case of Jeweller, respondents are influenced by efficiency first, then
capacity, then sturdy, then storage space, and then aesthetic of the Jeweller. In the case of
goldg jewellers, respondents are influenced by efficiency first, then capacity, then sturdy,
then storage space, and then aesthetic of the Goldg Jewellers.

According to “The Impact of Advertisement on Consumer Buying Behavior in

Gold Jeweller [Consumer Gold Products]”

Maithili Deshpande1, Yash Rokade2, Pooja Singh Darda

Faculty of Management, Department of Finance Management, MIT World Peace

University, Pune
 The present era has witnessed a revolutionary change in the trend of advertising. The
role of advertisements is important and influences the buying behavior of consumers. This
research was a study on impact of advertisements on consumer buying behavior with
respect to consumer Gold Based on the analysis it can be concluded that advertisements
have a significant impact on the consumer buying behavior. This study can be helpful for
advertisers in the consumer Gold sector to understand what triggers a consumer’s
intention to purchase. It can also determine which element in advertising is most affecting
and which has a comparatively lower impact.

According to “Buying Behavior of Gold Products in Andhra Pradesh – A Study

of Selected Gold Consumer Product”

M. Ravikanth, Prof. P.Venkat Rao

PhD Research Scholar, Department of Commerce, Sri Venkateswara University

P.G. Centre, Kavali, Nellore District, Andhra Pradesh State

From the study, it is to conclude that buying behavior and post purchase satisfaction
vary among the consumers for select brands and factors influencing them is also found
differ in the urban and rural areas. Since Gold Jeweller in India is more vibrant, and also the
present marketing mix practices of the companies are well directed to satisfy the consumers,
finally, it is recommended to the companies of 3 select brands is that there is a tremendous
scope of development in rural India. From the observation, it is clearly understood that
companies have not formulated differentiated strategies for urban and rural areas in India.
Differentiating and matching the expectations of the urban and rural people will help the
companies to gain wider reach and helps to increase the productivity.

According to “Consumer Buying Behavior for Gold Products A Study of select

items”

S.VijayaLaxmi, Research Scholar, KakatiyaUniversity, Warangal, India

Despite the basic characteristics of consumers the behavior pattern of consumers are
more or less similar to each other, particularly in the aspects like quality, preference and
decision making. However it is evident that the present approaches to draw the attention of
customers are not adequate. The consumers are particular about the appropriate system of
distribution and hence there is a great need for change in the Golds buying system. It may
not be always correct to say that consumers behave in the same way as it much depends on
type of products, quality of the products and price of the products. Consumer attitude
towards Golds based on age group , income group ,and price leads major role while
purchasing the Gold goods.

According to “BRAND LOYALTY – INFLUENCING CONSUMER BUYING

BEHAVIOUR”

SONALI P. BANERJEE Amity Business School, Amity University

Brand loyalty has certain components through which it is affected. They are:-

 Experience

 Learning

 Motivation

 Brand Preference After doing the analysis from the data collected it can be concluded
that buying behavior of customers is strongly affected by the past experience with a certain
brand and that helps them to decide whether to go for that brand again or not. i.e. if the
experience is good with the existing brand then they are will to buy a L.E.D JEWELLER of
the same brand and vice versa. Thus the Brand loyalty is very much affected by good or
bad experience of the consumer with the brand of JEWELLER they have already used. The
consumers having good experience get motivated to buy other Gold of the same brand and
thus it make them Loyal to that brand. In the above case Thangamayil is the most preferred
Brand as majority of the customers who have used Thangamayil are satisfied with the
product and are willing to purchase product of same brand. Those who are loyal to a certain
brand also impact their circle through word of mouth as they recommend the same brand to
others based on their experience.
 The consumer buying behavior towards a L.E.D is depended on few major factors
Like:-  Performance  Design  Picture Quality  Sound Quality These are the
factors/attributes about which the customers are more concerned and they want most in a
L.E.D Gold. And as per the survey majority of respondents with 62% do not mind in
paying extra price for the Brand they prefer till it gives the features they expect from that
Brand. Thus price is not a strong factor which affects the Brand Loyalty of the consumer in
case of A L.E.D Gold. The Customer Preference is also not much affected by the
advertisement or the celebrity who is endorsing the brand as most of the respondents
believed in their experience with the brand and the Image of the Brand which would help
them decide to buy L.E.D JEWELLER of which Brand.
 CHAPTER 3
RESEARCH METHODOLOGY
 3. RESEARCH METHODOLOGY

3.1 OBJECTIVES OF THE STUDY:

The objectives are designed to have a particular direction to the study like what aspect
of the topic is going to be studied. A topic can be studied from various parameter, the
objectives designed for a project gives an idea that in what manner the topic is studied, what
is the flow of project, what are the variables selected for the project, etc.

 To understand the market share of GOLD

 To identify the features and preferences of people about GOLD’s Jewellers

 To identify the features and preferences of people about GOLD’s Gold

3.2 HYPOTHESIS OF THE STUDY:

Hypothesis is referred as the presumptions made by an individual to study the research

project. These presumptions are made in a way to satisfy the objectives framed for the
project. Framing of hypothesis is an important part of the research as in this step the
research problem or the problem statement is designed on which the entire research is based.

The hypothesis or the research problem of the study is designed in such manner to find
out the relationship between the variables, i.e. does the effect on has any impact on the
other. We can also say that the following hypothesis will let us know how closely they are
correlated with each other.

HYPOTHESIS 1:

H0 - People do not prefer GOLD for Gold consumer

products

H1 - People prefer GOLD for Gold consumer products

HYPOTHESIS 2:
H0 - GOLD’s quality of products does not influence people to buy its products

H1 - GOLD’s quality of products influences people to buy its products

HYPOTHESIS 3:

H0 - Family members do not influence buying decisions

H1 - Family members influence buying decisions

HYPOTHESIS 4:

H0 – Buying branded Jewellers does not make a difference

H1 - Buying branded Jewellers makes a difference

HYPOTHESIS 5:

H0 – Style and looks of the Gold do not matter to the customer

H1- Style and looks of the Gold matter to the customer

3.3 TYPE OF STUDY

There are various types of study for doing a research, to name some descriptive study,
exploratory study, historical study, empirical study, qualitative study, quantitative study, etc.
For the purpose of this research, the research has used Descriptive study. Descriptive study
is a method usually used to describe the characteristics of the population that is being
studied. The descriptive study is mostly used to get the answer for the question „what‟
rather than answer for „why‟. The reason for selecting Descriptive research is because it
gives special focus on specific type of questions, methods, and outcomes of the data. The
best part about Descriptive study is that it can study the qualitative and quantitative aspects
i.e. there is no need to study the qualitative or quantitative aspects separately. Therefore, it
can involve the tables and graphs and numbers or the physical qualities in the study.
Descriptive study is usually used by the anthropologists, psychologists and social scientists.
This research is based on descriptive study because this project studies the qualitative and
quantitative aspects of the attendance of commerce students of Mumbai University.
However, this is not only descriptive research but also pure research; we can say that this
research is a mixture of descriptive and pure research. As the project work is completely
first hand, descriptive study is used only to understand the topic. However, my research
does involve review of literature which is the base of descriptive study. The significance
level used to test the credibility of my research used is 5% as descriptive study is tested at
the same level.
3.4 COLLECTION OF DATA

Primary data: The data which is collected first time or a fresh data is called the Primary
Data.

Primary data collection methods

1. Questionnaire method

2. Observation method, etc.

Secondary Data: Various research studies conducted on the topic in the past were reviewed
to gain further insight into the topic. These were collected from internet sources, authentic
research papers and journals.

Data collection Instrument (Questionnaire):- A key part of creating excellent online

surveys involves using open-ended and closed-ended questions effectively A closed- ended
question is made up of pre-populated answer choices for the respondent to choose from;
while an open-ended question asks the respondent to provide feedback in their own words

Closed-ended questions

Closed-ended questions come in a multitude of forms, including: multiple choice, drop

down, checkboxes, and ranking questions. Each question type doesn’t allow the respondent
to provide unique or unanticipated answers, but rather, choose from a list of pre-selected
options.
Open-ended questions

Open-ended questions are exploratory in nature, and offer the researchers rich,
qualitative data. In essence, they provide the researcher with an opportunity to gain insight
on all the opinions on a topic they are not familiar with. However, being qualitative in
nature makes these types of questions lack the statistical significance needed for conclusive
research
3.5 LIMITATIONS OF THE STUDY:

Limitations of a research project arise when there are uncontrollable variables which
are harder to be brought in control. This reduces the accuracy and credibility of results.
However, for this study only 140 responses were taken into consideration from the
undergraduate commerce students of Mumbai University.
-The period of research was very short and hence more the researcher was unable to gather
more responses.

-The research sample size was limited.

-The scope of discussion was limited as a very in depth study was needed in every field
of science. This helps in finding an accurate solution.
 3.5 RESEARCH GAP

Gap 1: Customer’s Expectations (knowing what customers expect)

The difference between management’s perception of what customers expect and what
customers really want.

For e.g. when a customer asked for a particular product of Gold and management fails
to understand what customers really expect from Gold

Gap 2: Management perception of customer’s expectation (not selecting the right service
design standards)

The difference between management perception and service quality specification

For e.g. when management has a good idea of a product but fails to develop them into
appropriate product specification

Gap 3: Product Delivery (not delivering to product standards)

The difference between product quality specification and actual product delivery

For e.g. the management delivered a product to the customer, hoping they would find
it interesting and the customer rejects the products

Gap 4: External Marketing Communication (not matching performances to promises)

The difference between product delivery and what is communicated externally

For e.g. the management promised the customer’s expectations would be

fulfilled

Gap 5: Actual product performance (the customer gap)

The difference between the costumer expectations of a product and what they actually
receive

For e.g. the customer except the product to be excellent and it doesn’t happen
 CHAPTER 4
DATA ANALYSIS AND
INTERPRETATION
 4. DATA ANALYSIS AND INTERPRETATION
The data collection method means the various sources from where the data
has been collected by the researcher. There are several methods for collection
of data, especially in surveys and descriptive researches. As during data
collection for descriptive research the primary data is collected from the
respondents through direct communication or through personal interviews.

For the purpose of the research, the primary data was collected through a
close ended structured questionnaire which was designed pre hand and an
online survey was done using Google forms. Online survey was the most
feasible form as the data was to be collected from varied population in short
period of time. The data collected was a scaled data i.e. like scale of value 10
each. Survey was answered by undergraduate commerce students of various
colleges under Mumbai University. Close ended questionnaire method is the
most feasible method of data collection as a fixed set of questions is prepared
and surveyed. Therefore, uniform observations were obtained through the
survey.
Q.1 Age

The maximum responses were from the age group 18 to 25 years of age. I
tried to get majority of the responses from the working population.
Q.2 Occupation

There are different categories of working individuals. The maximum

reviews are from the student category since it is a college based project. Next,
professionals, entrepreneurs and salaried individuals.
Q.3 Which brand do you prefer for Gold products?

These are the best brands in the Gold Jeweller. The top two brands are
Thangamayil and gold, followed by Kazana, Bhima and others.
Q.4 Which factor influences you more for choosing a brand?

There are different qualities that influence the customer to buy the
product. Maximum number of responses agree with quality being the most
important factor for buying a product, followed by brand image, price and
after sales service.
Q.5 What brand of Jeweller do you own?

The above chart shows that the maximum market share of Jewellers sold is
held by Thangamayil, followed by GOLD, Bhima and Kazana.
Q.6 What type of Jeweller do you prefer?

There are different types of Jewellers available in the market. The above chart
shows that people mostly prefer the normal type i.e. Top Gold Brand.
Q.7 Who influenced you more with you buying decision?

Any person buying any product is always influenced by someone to buy

that product. The pie chart given shows that most of them are influenced by
family member, followed by people who take buying decisions themselves.
Next are friends and relatives.
Q.8 What attracted you the most while buying the Jeweller?

There are different qualities which lead the buyers to buy the Jeweller.
According to the chart, quality is the most important attribute for buying a
Jeweller. Brand image and price being the next attributes.
Q.9 Does buying a branded Jeweller make any difference?

The chart shows that people prefer to buy branded Jewellers over non-branded
Jewellers.
Q.10 What brand of Gold you own?

According to the above chart, Thangamayil is the topmost brand in the sales
of Gold. Next we have GOLD, followed by Kazana and Bhima.
Q.11 Do style and looks of the Gold Products to you?

According to the pie chart 82% of the responses agree that looks of the Gold
matter to them.
Q.12 which type of Gold you prefer to buy?

The above chart shows most people prefer to buy a Gold Jeweller, followed
by a simple jeweller.
Q.13 from where did you buy the Gold?

According to the pie chart, most of the people by the Golds from retail outlets,
malls and online stores.
Q.14 Since when are you using the Gold

According to the chart, most of the Gold in the households are older than 4 or
more years.
Q.15 Are you satisfied with your gold products?

According to the pie chart most of the customers are satisfied with their gold
products.
Q.16 Rate the After sales Services provided by gold ?

According to the graph given, people have rated the after sales service of
GOLD products between 7 to 8.
Q.17 if any other brand provides with better services will you go
for that brand?

According to pie chart given almost everyone would shift to a different brand
if better services are provided
 CHAPTER 5
FINDINGS, SUGGESTIONS AND
CONCLUSION
5.1 Findings:

The data was collected was collected from primary and secondary
sources. For the only primary a survey was done online and 100 responses
were collected by the researchers whereas secondary data was collected from
multiple websites and journals.
The findings of primary data were as follows:

 There are many brands in the market like Thangamayil, gold, Kazana,
Bhima and many others. The top most market holders are Thangamayil,
and gold.
 Quality of the product is the most important attribute for most of the
respondents, followed by brand image and price.
 According to the respondents Thangamayil and gold have the biggest
market for Jewellers, to be specific the French-door and top Gold Brand
Jewellers.
 According to our respondents, quality and brand image of the Jeweller
matters the most. Family members influence the buying decisions of the
buyer.
 Branded Jewellers have a greater market compared to non-branded
Jewellers.
 According to the respondents, the most popular Gold brands are
Thangamayil, gold, Kazana and Bhima followed by others, the style and
looks matter to the customers.
 A Gold Jeweller is the most trending right now, mostly brought from malls
and retail outlets. Online stores are rising with their sales. The maximum
life of a Gold is around 6-7 years.
 Gold customers majorly are satisfied with their products and have
rated the after sales service provided by gold 7-8 points on 10
 Maximum customers have a mentality to shift towards a brand
providing better products and services.
5.2 Suggestions
1. Secondary supports play an important role in the customers mind and
create awareness among the customers. The secondary support includes
Demonstration, Exhibition & Even Sponsors.

2. From the survey it was found out that the majority of customer’s don’t buy
consumer durables from exhibitions. They just visit the exhibitions to see the
co. latest model.

3. They want to buy from the showrooms or from co. showrooms. For them
service is important .Beside convenience and other factors service is key
factor.

4. Also majority of customers do not want any financing scheme for

purchasing the durables.

5. There was heavy rush on weekends so large numbers of ISD‟s were

appointed that day. Also the live demo calls helps in selling. Exchange
offers also generate sale.

6. Customers are also now very choosy in buying the product and it is
important for the company to make loyal customer of their brand.

7. In survey we found that gold has captured maximum market share in

every category. gold dominates jeweler,and Jeweller, and Gold jewellers,
category.

8. Gold and Thangamayil have bottle neck competition in Jeweller and. category.

9. The product is well aware and it is on top of mind of customer.

10. Customers are also now very choosy in buying the product and it is
important for the company to make loyal customer of their brand.

11. Company should make advertisement of Gold products aggressively in

the way of hoardings which increase the more visualizes customer.
5.3 Conclusion:

Gold products are vital part of our daily lives today. We need an Gold
device in almost every job we do. Golds, Jewellers, goldg jewellers, mobile
phones and many other products. We need the best quality products for
ourselves, which makes the buying decisions of these products are very
difficult.
My study says, gold started off as a topmost company dealing in Gold
products, with the entry of new companies with better technologies, gold
lagged behind due to outdated technology.
According to survey conducted by me, gold has a good reputation in the
market. gold may try to improve the qualities and after sales services provided
by them.
In current market scenario, the competition in the Gold sector is highest,
so as to remain in competition all companies have to develop in terms of
customer satisfaction and others features. gold is good at what it provides to its
customers but it needs improvements in some areas.
According to the survey, the topmost brand for both Jewellers and Golds is
Thangamayil, hence becoming its biggest competitor, it needs to improve in
the innovations and launch the best quality products in market to compete with
Thangamayil.
Consumer satisfaction is really important field in today’s market. It is very
important for companies to satisfy their customers with all their wants and
demands. It is really necessary for them to understand their customer’s desires
and provide them with the same. Gold has a great internal structure with a long
term serving mission and code of conduct.
 Gold has spread its feet in almost all categories of Gold products, whether
it is mobile phones, gold jewelers, It has a tie up with many companies like
yahoo.com etc...
Thus, any brand if needs a good market share it has to focus on customer
satisfaction in the first place then there are other aspects as well. Gold as a
brand needs improvement in qualities of its products, its style and looks and
the services provided by them to their customers.
BIBLIOGRAPHY
REFERENCE

1. https://en.wikipedia.org/wiki/GOLD_Golds
2. https://kupdf.net/download/Gold-project-report_59cb873708bbc5d71a686fd3_pdf
3. https://www.slideshare.net/singharun256/Gold-project-reportarun-singh?qid=cb63f056-
42bc-489e-ab7d- 3fbf90bafe0f&v=&b=&from_search=1