market research report on Tanishq

Project Report On “Buying behaviour of gold with regards to Tanisq ” SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENT OF P.G.D.M. PROGRAM Submitted To: Professor Devang Desai Submitted By: Jay Desai (28) Grishma Tandel (20) Jairaj Tailor (27) Rohan Shahi (49)

2nd Year P.G.D.M. (3rd Semester) G.I.D.C. Rofel Business School, Vapi.

Academic Year: 2009-2010

Buying behaviour of Gold Submission On: 20th November, 2009

DECLARATION

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GIDC ROFEL Business School Page 2

Buying behaviour of Gold

This project project report entitled study study of customer’s customer’s perception perception has been been subm submit itte ted d to G.I. G.I.D. D.C C Rofe Rofell Bu Busi sine ness ss Sc Scho hool ol,, Va Vapi pi in partial partial fulfilme fulfilment nt of P.G.D.M. P.G.D.M. Degree. Degree. Here by we, unders undersign ign that this project report has been completed by us under the guid guidan ance ce of Prof Profes esso sorr Deva Devang ng Desa Desaii (Fac (Facul ulty ty:: Ma Mark rket etin ing g Research, G.I.D.C. Rofel Business School, Vapi)

Study of this Project Report is entirely result of our own efforts and research is original in nature. This Project Report is not submitted either in part or whole to any other institute for any other degree.

Place: Vapi Date: 20th November, 2009

Grishma Tandel Jairaj tailor Marketing Research


Buying behaviour of Gold Jay Desai Rohan Shahi

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ACKNOWLEDGEMENT

We would like to express our gratitude to: (i)

(ii) (ii)

Professor Professor Devang Desai, for giving us a chance to learn things in a practical and innovative way, and gain some experience for the same. We would also like to thank her her fo forr al alll her supp uppor ortt and and to encou oura rag ge us and motivate us to learn new things and in different ways. The group group memb members ers for showi showing ng the their ir co-o co-ordi rdinat nation ion for the project.

We are are grea greatl tly y than thankf kful ul to all all the the advi adviso sors rs who who help helped ed us knowingly and for giving information and interest in report.

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Buying behaviour of Gold Thanking You,

Grishma Tandel Jairaj tailor Jay Desai Rohan Shahi

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ITENARY

Executive Summary Introduction i)

Tanishq profile

About The Research i)

Purpose Of The Research

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Buying behaviour of Gold Problem Of The Research iii) Objective Of The Research iv) iv) Limi Limita tati tion ons s Of The The Rese Resear arch ch v) Sign ignificance Of Of Th The Re Research

ii)

Sample i) ii ) iii) iv) iv)

Sampling Frame Sampling Unit Sample Size Sampl ample e Siz ize e Selec electi tio on

Research Methodology Methodology i)

Research Tools a) Explorato Exploratory ry Research Research Questionnaire Questionnaire Survey a) Descript Descriptive ive Research Research •

Detailed Findings Conclusion Recommendation Recommendation & Conclusion Bibliography

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EXECUTIVE SUMMARY

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INTRODUCTION

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TANI TANISH SHQ Q PROF PROFIL ILE E

Evolution of Tanishq Titan came into existence in July 1984, when the Tata Group joi joine ned d hand hands s with with the the Tami Tamill Nadu Nadu Indu Indust stri rial al Deve Develo lopm pmen entt Corporation (TIDCO) to make a foray into the watch industry. 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, 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 arou around nd 3. 3.5 5 lakh lakh play player ers. s. Be Befo fore re 1992 1992,, on only ly the the Me Meta tall and 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 Marketing Research


Buying behaviour of Gold of 1962 1962,, allo allowi wing ng free free impo import rt of gold gold.. In 1993 1993,, priv privat ate e companies were allowed to enter the hitherto restricted gold and diamond mining industry. industry . Foreign investors were allowed to hold up to 50% equity in mining ventures.

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Growth of Tanishq

Revenue in million Rupees

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SWOT ANALYSIS

STRENGTH

OPPORTUNITIES

Purity (karat meter) Dist Distri ribu buti tion on

netw networ ork k

Global markets and and

retailing store

Cust Custom omiz ized ed

Award winning designs Diversity

Low cost jewellery

in

jewellery

gold/diamond/platinum Competitive prices WEAKNESS

jewe jewell ller ery y

designs Concentrate on Gen-X by having trendy jewellery Expand retail stores THREATS

Capture Rs 70,000-crore

Competition

Escala Escalated ted gold gold cos costs ts lower lower

Lack of Skilled workers

margins

Gold not seen as s source of inves investme tment. nt. (Lux (Luxury ury is needed).

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Purity of jwellrey 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. Weaknesses Captur Capture e Rs 70,000 70,000-c -cror rore e Indian Indian jewel jeweller lery y marke market. t. Tanish Tanishq q comprises a small small share share of the the overal overalll Rs 70,000 70,000-c -cror rore e Indian Indian jewel jeweller lery y market and henc hence e it need needs s to incr increa ease se its its mark market et share hare in this this huge huge industry. Escalated gold costs has caused lower margins is to push sales as much as possible.

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Buying behaviour of Gold Opportunities Global markets like USA needs to be looked at. Low cost and easy to wear wear jewe jewell ller ery y shou should ld be furt furthe herr jewellery designs

prom promot oted ed..

Custo ustomi mize zed d

should provided to the customers. Concentrate on Gen-X by having tren trendy dy jewe jewell ller ery. y. Expa Expand nd reta retail il st stor ores es in Indi India a to furt furthe herr increase reach. Threats Competition from local jewellers all over India. Lack of Skilled workers in jewe jewell ller ery y indu indust stry ry.. Gold Gold is no long longer er se seen en as so sour urce ce of investment. People are more concerned about design and luxury.

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Three Three Major Products Products Of Tanishq Tanishq In GOLD



Zoya Secret Sec rets s of the Egyptian Egyptian pha pharao raohs hs mas masked ked with the mystery mystery of the com comos; os; Oriental art embellished with occidental architecture



Fashion Earrings 

The Fashion Fashion ear earrin ring g col collec lectio tion; n; has a ran ranged ged of ove overr 300 exc exclus lusive ive designs



Wedding Collection 

The bride blushes

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ABOUT THE RESEARCH

THE PURPOSE OF THE RESEARCH

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

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PROBLEM

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Buying behaviour of Gold To find out problem is the first stage of the research process. It repr repres esen ents ts tran transl slat atin ing g the the mana manage geme ment nt prob proble lem m into 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.

.

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OBJECTIVES

The objectives of the study are as follows: 1) The objective of study was to to find the actual actual reason why people are not going to Tanishq 2) To find what what they like like & dislike about about Tanishq. Tanishq. 3) On the basis basis of in depth depth inter intervi view ew we got got 6 crit criter eria ia in whic which h we could measure the attitude of people towards Tanishq.

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Limitations

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

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The respo responde ndent’ nt’s s perso personal nal bias bias may be anothe anotherr factor factor,, which is uncontrollable.



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.



It was very difficult to explain the respondents about how to fill the questionnaire & it took time for data collection.

Hypothesis Marketing Research


Buying behaviour of Gold a) Price doesnot doesnot affect the buying of gold. gold. b) Quality of gold does does not effect effect the buying of gold c) Service does does not effect the buying buying of gold gold d) Pattern does does not effect effect buying of gold e) Lo Locat cation ion of sto store re does does not effect effect buyin buying g behav behavior ior of gold. f) Ambianc Ambiance e of store effec effectt buying behavio behaviorr of gold.

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VIEW ABOUT THE TOPIC

SAMPLE

Sampling Frame:

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Buying behaviour of Gold 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.

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 vapi

Sample Size:

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

Sampl Sample e Size Size Sele Select ctio ion n: 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 out outsi sid de Tanishq.

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RESEARCH METHODOLOGY

Research Tools: Marketing Research


Buying behaviour of Gold The The rese resear arch ch to tool ol used used fo forr this this rese resear arch ch is PRIMARY DATA In primary data the following research design is being followed: i)

Exploratory Re Research: Questionnaire Survey (Sample Size – 150)

ii )

Descriptive Re Research: On the basis of the questionnaire survey, the analysis is done in order to find out the reason why people are not visiting Tanishq

We have used 2 types of reaserch design they are a) Explorato Exploratory ry research research b) Descript Descriptive ive research research Marketing Research


Buying behaviour of Gold Exploratary research because we were not knowing the actual prob proble lem m face faced d by ta tani nish shq. q. So fo forr that that we did did an Inde Indept pth h interview of 3 person to find what are the major findings & difficulties difficulties are faced by them. We did Interview of a) Mr Bhaskar Bhaskar who is the senior sales sales manger manger of tanishq tanishq of south Gujarat region. In the interview we asked him diifrent question regarding the sale sa les s & the their way way of oper operat atio ion n & diff differ eren entt as aspe pect cts s abou aboutt tanishq From the answers given by Mr Bhaskar we found that major reas reason on why why peop people le are are no nott turn turnin ing g ou outt to towa ward rds s Tani Tanish shq q is because of of Price a bit higher & pattern availability in tanishq tanishq . he also told us the major reason why people are coming to tanishq tanishq is the quality quality of gold & services services provided provided by them. 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 vapi town & we asked him the same questions what we asked Mr. Bhaskar. We found that a) Major people who buy buy gold from there there are their regular customers from long time b) The people have have trust on the purity purity of gold c) He also said that that people people are having bad experi experience ence of going to tanishq as the price of gold is more than what they are paying to normal retailers. Marketing Research


Buying behaviour of Gold d) He also said that people of vapi are more price councius & not quality concius. e) He also also sa said id that that patt patter erns ns whic which h are are avai availa labl ble e with with them are the same or much more compared to tanishq people. From the detailed interview of these 2 people we thaught that major reasons which can effect the purchase decision of people buying gold are 1) Pric Price e 2) Qualit Quality y 3) Servic Service e 4) Availabili Availability ty of pattern pattern 5) Proximit Proximity y to market 6) Ambiance Ambiance of store store

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DETAILED FINDINGS

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Buying behaviour of Gold Over All Sample size

The sample was 150 but out of which 29 people dint went to Tanishq Tanishq for buying buying of gold. gold. So our sample size came to 121.

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.

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Annual income of Respondents

The The resp respon onde dent nts s aver averag age e inco income me lies lies from from 5000 5000 to 30000 & above so respondents were a)

5000 – 10000

=6

b)

10000 – 20000 = 11

c)

20000 – 30000 = 18

d)

30000 & above = 86

People who said they visit Tanishq & again goes for repurchase Marketing Research



The The abov above e char charts ts give gives s us the the deta detail il of peop people le who who visits Tanishq for repurchase.

Hypothesis Testing

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2

2

X = ∑ (o-e) / e

1) Price Pric e does not n ot affect aff ect the th e buying buyin g of gold. gol d. Price Particular

1

2

3

4

5

Total

12 15 0 0 0

11 31 6 1 0

4 12 7 1 1

0 0 4 2 2

30

5

3 8 1 0 0

Total

12

27

49

25

8

1 2 3 4

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66 18 4 3

121


Buying behaviour of Gold Observed 3 12 11 4 0 8 15 31 12 0 1 0 6 7 4 0 0 1 1 2 0 0 0 1 2 Total

expected 2.97 6.69 12.14 6.19 1.98 6.54 14.72 26.2 13.63 4.36 1.78 4.01 7.28 3.71 1.19 0.39 0.89 1.61 0.82 0.26 0.29 0.66 1.21 0.61 0.19

o-e 0 .0 3 5 .3 1 -1.14 -2.19 -1.98 1 .4 6 0 .2 8 4 .8 -1.63 -4.36 -0.78 -4.01 -1.28 3 .2 9 2 .8 1 -0.39 -0.89 -0.61 0 .1 8 1 .7 4 -0.29 -0.66 -1.21 0 .3 9 1 .8 1

2(o-e) 0.0009 28.1961 1.2996 4.7961 3.9204 2.1316 0.0784 23.04 2.6569 19.0096 0.6084 16.0801 1.6384 10.8241 7.8961 0.1521 0.7921 0.3721 0.0324 3.0276 0.0841 0.4356 1.4641 0.1521 3.2761

2(o-e)/e 0.000303 4.214664 0.107051 0.774814 1.98 0.325933 0.005326 0.879389 0.19493 4.36 0.341798 4.01 0.225055 2.917547 6.635378 0.39 0.89 0.231118 0.039512 11.64462 0.29 0.66 1.21 0.249344 17.24263

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 H0 as 59.8149 So when compared to tabulated value of the number that is (r1)*(c-1) gives us the tabulated value so for my question (51)*(5-1) = 16 is the degree of freedom. Marketing Research


Buying behaviour of Gold The value for the 16 is 26.3 So Ho>H1 so hypothesis is rejected.

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

Quality Particular 1 2 3 4 5 Total

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1 3 1 2 6 0 12

2 2 4 10 9 2 27

3 2 5 20 18 4 49

4 0 2 11 8 4 25

5 0 0 3 5 0 8

total 7 12 46 46 10 121


Buying behaviour of Gold Observed 3 2 2 0 0 1 4 5 2 0 2 10 20 11 3 6 9 18 8 5 0 2 4 4 0 Total

expected 0.69 1.56 2.83 1.44 0.46 1.19 2.67 4.85 2.47 0.79 4.56 10.26 18.62 9.5 3.04 4.56 10.26 18.62 9.5 3.04 0.99 2.23 4.04 2.06 0.66

o-e 2.31 0.44 -0.83 -1.44 -0.46 -0.19 1.33 0.15 -0.47 -0.79 -2.56 -0.26 1.38 1.5 -0.04 1.44 -1.26 -0.62 -1.5 1.96 -0.99 -0.23 -0.04 1.94 -0.66

2(o-e) 5.3361 0.1936 0.6889 2.0736 0.2116 0.0361 1.7689 0.0225 0.2209 0.6241 6.5536 0.0676 1.9044 2.25 0.0016 2.0736 1.5876 0.3844 2.25 3.8416 0.9801 0.0529 0.0016 3.7636 0.4356

2(o-e)/e 7.733478 0.124103 0.243428 1.44 0.46 0.030336 0.662509 0.004639 0.089433 0.79 1.437193 0.006589 0.102277 0.236842 0.000526 0.454737 0.154737 0.020644 0.236842 1.263684 0.99 0.023722 0.000396 1.82699 0.66 18.99311

The hypothesis of these question is that the Quality does not effect the buying behavior of consumer that is Ho. So from the calculation we got the value of H0 as 18.99311 So when compared to tabulated value of the number that is (r1)*(c-1) gives us the tabulated value so for my question (51)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 Marketing Research


Buying behaviour of Gold So Ho

3) Service does not affect affect buying behavior behavior of consumer. consumer. Particula r 1 2 3 4 5 Total

Service Observed

1

2

3

4

5

0 1 1 6 4

0 0 6 15 6

1 0 5 33 10

0 0 8 10 7

0 0 1 6 1

12

27

49

25

8

expected

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o-e

2(o-e)

total 1 1 21 70 28 121

2(o-e)/e


Buying behaviour of Gold 0 0 1 0 0 1 0 0 0 0 1 6 5 8 1 6 15 33 10 6 4 6 10 7 1

0.09 0.22 0.4 0.2 0.06 0.09 0.22 0.4 0.2 0.06 2.08 4.68 8.5 4.33 1.3 6.94 15.62 18.35 14.46 4.63 2.78 6.25 11.34 5.79 1.85

-0.09 -0.22 0.6 -0.2 -0.06 0.91 -0.22 -0.4 -0.2 -0.06 -1.08 1.32 -3.5 3.67 -0.3 -0.94 -0.62 14.65 -4.46 1.37 1.22 -0.25 -1.34 1.21 -0.85

0.0081 0.0484 0.36 0.04 0.0036 0.8281 0.0484 0.16 0.04 0.0036 1.1664 1.7424 12.25 13.4689 0.09 0.8836 0.3844 214.6225 19.8916 1.8769 1.4884 0.0625 1.7956 1.4641 0.7225

0.09 0.22 0.9 0.2 0.06 9.201111 0.22 0.4 0.2 0.06 0.560769 0.372308 1.441176 3.1106 0.069231 0.12732 0.024609 11.69605 1.375629 0.405378 0.535396 0.01 0.158342 0.252867 0.390541 32.08133

The hypothesis of these question is that the service does not effect the buying behavior of consumer that is Ho. So from the calculation we got the value of H0 as 32.0813 So when compared to tabulated value of the number that is (r1)*(c-1) gives us the tabulated value so for my question (51)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 Marketing Research


Buying behaviour of Gold So Ho>H1 so hypothesis is rejected. So service does matter in buying gold.

4 ) Pattern does not effect effect buying behavior of consumers. Particular 1 2 3 4 5 Total

PATTERN Observed 0 2

1

2

3

4

5

0 5 3 3 1

2 7 11 6 1

4 16 16 4 9

0 8 7 6 4

0 3 2 1 1

13

27

49

25

7

expected 0.65 1.34

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o-e -0.65 0.66

2(o-e) 0.4225 0.4356

total 6 39 39 20 17 121

2(o-e)/e 0.65 0.325075


Buying behaviour of Gold 4 0 0 5 7 16 8 3 3 11 16 7 2 3 6 4 6 1 2 1 9 4 1

0.45 1.25 0.35 4.19 8.7 2.9 8.06 2.26 4.19 8.7 2.9 8.06 2.26 2.15 4.46 1.49 4.13 1.16 1.83 3.79 1.26 3.51 0.98

3.55 -1.25 -0.35 0.81 -1.7 13.1 -0.06 0.74 -1.19 2.3 13.1 -1.06 -0.26 0.85 1.54 2.51 1.87 -0.16 0.17 -2.79 7.74 0.49 0.02

12.6025 1.5625 0.1225 0.6561 2.89 171.61 0.0036 0.5476 1.4161 5.29 171.61 1.1236 0.0676 0.7225 2.3716 6.3001 3.4969 0.0256 0.0289 7.7841 59.9076 0.2401 0.0004

28.00556 1.25 0.35 0.156587 0.332184 59.17586 0.000447 0.242301 0.337971 0.608046 59.17586 0.139404 0.029912 0.336047 0.531749 4.228255 0.846707 0.022069 0.015792 2.053852 47.54571 0.068405 0.000408 206.4282

4) Pattern does not effect buying behavior of gold.

The hypothesis of these question is that the pattern does not effect the buying behavior of consumer that is Ho. So from the calculation we got the value of H0 206.4282 So when compared to tabulated value of the number that is (r1)*(c-1) gives us the tabulated value so for my question (51)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho>H1 so hypothesis is rejected. Marketing Research


Buying behaviour of Gold So it has has been been anal analyz yzed ed that that Tani Tanish shq q has has good good vari variet ety y of pattern.

5) Proximity does does not affect buying buying of gold. gold.

Particul ar 1 2 3 4 5 Total

Proximity Observed 2 0 6 2 0 2

1 2 2 4 3 1 12

2 0 2 6 7 12 27

expected 0.99 2.23 3.88 2.07 0.67 0.79

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3 6 3 18 14 8 49

4 2 0 8 9 6 25

o-e 1.01 -2.23 2.12 -0.07 -0.67 1.21

2(o-e) 1.0201 4.9729 4.4944 0.0049 0.4489 1.4641

5 0 1 4 1 2 8

total 10 8 40 34 29 121

2(o-e)/e 1.030404 2.23 1.158351 0.002367 0.67 1.853291


Buying behaviour of Gold 2 3 0 1 4 6 18 8 4 3 7 14 9 1 1 12 8 6 2 Total

0.79 3.11 1.65 0.53 3.97 8.93 15.54 8.27 2.64 3.37 7.59 13.21 7.02 2.25 2.88 6.47 11.26 5.99 1.92

1.21 -0.11 -1.65 0.47 0.03 -2.93 2.46 -0.27 1.36 -0.37 -0.59 0.79 1.98 -1.25 -1.88 5.53 -3.26 0.01 0.08

1.4641 0.0121 2.7225 0.2209 0.0009 8.5849 6.0516 0.0729 1.8496 0.1369 0.3481 0.6241 3.9204 1.5625 3.5344 30.5809 10.6276 1E-04 0.0064

1.853291 0.003891 1.65 0.416792 0.000227 0.961355 0.389421 0.008815 0.700606 0.040623 0.045863 0.047245 0.558462 0.694444 1.227222 4.726569 0.943837 1.67E-05 0.003333 21.21642

The hypothesis of these question 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 H0 as 21.21 So when compared to tabulated value of the number that is (r1)*(c-1) gives us the tabulated value so for my question (51)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho

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6) Ambiance does does not affect buying behavior behavior of gold. Particular

1

2

3

4

5

total

1

1 0 5 3 4

1 2 6 9 9

0 6 11 17 14

4 2 6 8 5

1 0 2 11 4

7

13

27

48

25

8

Expected 0.75 1.56 2.78 1.45 0.46 1.07 2.23 3.97 2.07

o-e 0.25 -0.56 -2.78 2.55 0.54 -1.07 -0.23 2.03 -0.07

2 3 4 5 Total

Observed 1 1 0 4 1 0 2 6 2

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2(o-e) 0.0625 0.3136 7.7284 6.5025 0.2916 1.1449 0.0529 4.1209 0.0049

10 30 38 36 121

2(o-e)/e 0.083333 0.201026 2.78 4.484483 0.633913 1.07 0.023722 1.03801 0.002367


Buying behaviour of Gold 0 5 6 11 6 2 3 9 17 8 1 4 9 14 5 4 Total

0.66 3.22 6.69 11.9 6.2 1.98 4.08 8.48 15.07 7.85 2.51 3.87 8.03 14.28 7.44 2.38

-0.66 1.78 -0.69 -0.9 -0.2 0.02 -1.08 0.52 1.93 0.15 -1.51 0.13 0.97 -0.28 -2.44 1.62

0.4356 3.1684 0.4761 0.81 0.04 0.0004 1.1664 0.2704 3.7249 0.0225 2.2801 0.0169 0.9409 0.0784 5.9536 2.6244

0.66 0.983975 0.071166 0.068067 0.006452 0.000202 0.285882 0.031887 0.247173 0.002866 0.908406 0.004367 0.117173 0.00549 0.800215 1.102689 15.61287

The hypothesis of these question 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 H0 as 15.61 So when compared to tabulated value of the number that is (r1)*(c-1) gives us the tabulated value so for my question (51)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho

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Questionnaire GIDC ROFEL BUSINESS SCHOOL Dear Sir/Madam We are the students of 2 nd Year PGDM Course of GIDC ROFEL BUSINESS SCHOOL (VAPI). As a part of our research study we are conduct ductiing a survey regar garding the percepti ption of people regard regarding ing the purcha purchase se of gold gold from from differ different ent organi organized zed & Un organized Retailers. Guidelines for filling the form:1) Please Please check the box whereve whereverr required. required. 2) Only 1 check check per question. question.

Q 1 ) Name:-___________________ Name:-______________________________ _______________________ _______________________ ______________ ___ Marketing Research


Buying behaviour of Gold Q 2) Gender -

male

female

Q 3) Age :- _________________

Q 4) Occupation: - Service

Business

Others

Others:-__________________________

Q 5) Monthly average INCOME? 5000-10000 30000 & above

10000-20000

20000-30000

Q 6) how often you visit jewellery store? Once a month

once a year

On Occasion

Q 7) You Buy jewellery from Place Vapi

Store Name ___________________

Valsad

___________________

Surat

___________________

Bombay Marketing Research

___________________ GIDC ROFEL Business School Page 49

Buying behaviour of Gold Others

___________________

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

Yes

No

If Yes/No ___________________________________________________________

Why?

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

a) Product Product are worth worth price price you you pay ? b) Purity & quality of gold ?

c) The service service you get get in the the store store ? d) The Number Number of pattern patterns s available available ?

e) Proximity Proximity to market market ? f) Ambi Ambian ance ce of of Sto Store re ?

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

No

Q 11) How did you come to know about Tanishq? Marketing Research GIDC ROFEL Business School Page 50

Buying behaviour of Gold TV

News Paper

Hoardings

Pamphlets Pamphlets

Friends/re Friends/relativ latives es

Others Others

Q 12) Have you visited Tanishq Store? Yes

No

Q 13) Rate Tanishq On flowing Criteria Given below Particular

V.Go od

Good

Avera ge

Ba d

V.ba d

a) Pr Pric ice e b) Purity & Quality of Gold

c) Servic Service e Offere Offered d d) Patterns Patterns Available Available e) Locat Location ion of of Store Store f) Ambia Ambianc nce e of of sto store re

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

No

Q 15) Would you recommend others for Buying Tanishq Products? Yes Q 16) Rate tanishq on over all basis? Marketing Research

No GIDC ROFEL Business School Page 51

Buying behaviour of Gold Particular

V.Go od

Good

Avera ge

Ba d

V.ba d

Tanishq As a Store

Thank You

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FINDINGS

On the the basi basis s of chichi-sq squa uare re test test the the rela relati tion on betw betwee een n the 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 price people are are not visiting Tanishq. Tanishq. b) People are happy with the quality of Tanishq & they go

to Tanishq only because the purity & quality of gold. Marketing Research


Buying behaviour of Gold c) The The peop people le also also visi visitt Tani Tanish shq q beca becaus use e they they prov provid ide e better services then the other retailers. d) The The patt patter ern n are are also also majo majorr fact factor or beca becaus use e of whic which h people does not prefer Tanishq. e) The The people ople sa says ys that that the the lo loc cat atiion of sto tore re 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 vapi ambiance , proximity to market & service are less important.

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Recommendation & Conclusion

Conclusion People Peo ple are more price price consciou conscious s & 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 Marketing Research


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

Recommendation We would recommend Tanishq following things a) The The maki making ng char charge ge is affe affect ctin ing g thei theirr sa sale les s so they they

should cut down their prices. b) The The patt patter erns ns are are co comp mpar arat ativ ive e less less so they they shou should ld

provide more number of patterns & also should increase

their

market

share

by

bringing

more

innovative scheme & loyalty programs. c) Peo People ple are more service service conscious conscious so they can target target

young business man & young professional as they are now more in investing money in gold. d) Gold Gold price price are incre increasi asing ng day by day so they should should increase their sales by selling biscuits of gold rather than selling more of ornaments.

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Bibliography Tanishq Website Tanishq Outlet Marketing Research TextBook

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THANK YOU

Marketing Research


market research report on Tanishq

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