A Study on Buying Behaviour Of Customers Towards Branded and Non-Branded Jewellry with Reference to Coimbatore City

Abstract

This paper is focused on the attitude of gold buyers towards branded and non- branded jewellers. The objective ofthe study is to analyse the reasons for Sjewellers and satisfaction ofbuyers towards gold jewellers. This study will useful to the owners of gold jewellers for understanding thechoices and preferences of buyers, the criteria adopted by buyers in selecting a particular jeweller, in adopting asuitable pricing strategy, and in devising suitable marketing strategies, so as to serve their customers in a betterway.

Introduction

I. INTRODUCTION

Jewellery is valued important saving and investment in India. Jewellery has played a crucial role in human life for thousands of years.

We learn from history that ancient civilizations appreciated jewellery and it was used to highlight the natural beauty of its wearers, Different pieces were worn to symbolize different messages such as security, wisdom, elegance, and prosperity. One of the main reasons for wearing jewelry and the kinds of accessories is that the right jewelry will easily highlight your best features, like your waist, clavicle, or cheekbones, etc.

There is no end for jewellery in marketing field. Jewellery is the traditional and emotional product which can be used as generation wise. In jewellery mark only all set of category people will be there Any girl baby born in family Obviously they will prefer to buy jewels and started to save the jewellery on current board rate not only women's, men’s also preferred to use jewels like chain, bracelet and also old age person interested to wear gold watch. Jewellery remains an important part of society, with several jewellery designs associated with certain periods, cultures, and societies. Jewellery,especially gold jewelry, is believed to offer a number of health benefits, which is why most people choose gold jewelry. Some of the health benefits on health benefits believed to be tied to the gold jewelry include the regulation of the body's temperature, offering relief from the symptoms of arthritis, and stress or anxiety reduction through the healing of your endocrine and nervous systems

A. Need for Study

The purpose of the study is known consumer buying preference towards Jewellery market. The author studied the vital of the jewellery business and Discuss the consumer behavior of jewellery.

B. Scope of Study

The scope of the study intends to understand and analysis the people buying Jewels. The study Will be carried out within the TamilNadu state. The purpose of study is to know the preference of the customers towards jewellery

C. Objective

To explore the traditional and branded jewellery of India. To study the Brand awareness of Indian Jewellery market.To know the Consumer’s buying decision whether it is based on convenience or brand preference. To identify the buying motivation and concerned factors while consuming gold jewellery.

To compare the consumer preference towards the characteristics of branded and Nonbranded gold jewellery To analyse the impact of advertisement while purchasing gold jewels. To understand the level of customer satisfaction regarding various factors provided by branded jewellers.

II. REVIEWS OF LITERATURE

1. Berad, (2019) concluded in their study that factors like design, price, purity, image, variety, display, service, promotion & offers, family & friends direct the Women consumers to purchase the gold ornaments. In their study it was also observed that around 80% respondents preferred the branded jewellery items over the non- branded jewellery items.
2. Laurence E. Blose (2020) carried a study which discusses how changes in expected inflation affect gold prices. Using unexpected Changes in the Consumer Price Index (CPI) this paper shows that surprises in the CPI do not affect gold spot prices. The results indicate that investors anticipating changes in inflation expectations should design speculation strategies in the bond markets rather than the gold markets.
3. Hari Chauhan (2021), The Author attempts to explore “The love for jewellery by the Indian woman”. The research highlights how jewellery serves as adornment as well as financial security. The Indian woman has always been very creative in her expression of jewellery and design. In keeping with India's rich heritage of diversity, jewellery also takes on regional nuances. It is the ultimate and most-personal expression of region specific culture and art of lifestyles and heritage. It draws inspiration from architecture, dance and even religious customs. The paper describes the traditional jewellery worn by the women of Pabbar valley of Himachal Pradesh, one of the northern states of India.

III. COMPANY PROFILE INTRODUCTION OF GOLD

Yellow gold is what most of the people envision after they think of gold Jewellery. Due to its colour, many of us assume that yellow gold is of a higher purity than white gold or rose gold. However, 18 carat yellow gold contains a similar amount of pure gold as 18 carat white or rose gold.

The distinction in its colour comes from the very fact that this gold alloy contains silver, copper and zinc, which allows it to retain its golden colour. Yellow gold continues to be very popular round the world because it's the most hypo-allergenic and it requires {the least the smallest quantity} amount of maintenance of the three colors.

A. Types of Gold Jewellery

1. Colors of Gold Jewelry: Gold jewelry is remarkably versatile and is available in a variety of gorgeous hues. Although naturally occurring as yellow gold, it can also be mixed with different alloys to create other gold colors.
2. White Gold: White gold is created from yellow gold that is alloyed with nickel or palladium and zinc. An alternative to platinum, white gold gets its bright, silvery-white finish from Rhodium plating. Rhodium is a shiny, white metal that is extremely hard, but it may wear off over time, requiring the jewelry to be re-plated
3. Rose Gold: Rose gold, also referred to as pink gold, is created when pure gold is combined with copper alloys. The copper helps strengthen the metal and provides its signature pink hue.

B. What is 14 karat gold?

14k solid gold contains 14 parts gold (58.3%) and 10 parts alloys (41.7%). Due to its strength, 14k gold is considered the most wearable type of gold.

C. What is 18 karat gold?

Higher-quality 18k solid gold contains 18 parts gold (75%), and 6 parts alloys (25%).

D. What is 24 karat gold?

24k gold is completely pure, with no alloys added. 24k gold is very soft and therefore is not recommended for everyday wear.

IV. INTRODUCTION OF SILVER

Silver is a white metallic element, harder than gold, softer than copper and second only to gold in malleability and ductility. Represented on the Periodic table of the Elements by the symbol Ag, silver is an excellent conductor of heat and electricity. Silver is considered one of the noble metals because of its excellent resistance to oxidation. Historically, silver has played a prominent role in the production of jewelry and objets d’art and is usually alloyed with another metal to harden it enough to maintain the desired shape and details imparted to it.

A. Types of Silver Jewellery

1. Fine Silver: (99.9% pure) The purest silver on the market. It is extremely soft, is beautifully malleable and solders easily with minimal tarnishing
2. Britannia Silver: (95.8% pure) Slightly softer than sterling silver, Britannia silver is alloyed with 4.2% copper and is often used for decorative Britannia silver coins. The durability and price of Sterling Silver have made Britannia silver a less popular option for jewellers and silversmiths today
3. Sterling Silver: (92.5% pure) the most popular type of silver sold for jewellerypurposes. Sterling silver is alloyed with 7.5% copper to give it strength and durability, and it has the colour and working qualities that we are all most familiar with.
4. Argentium Silver: (93.5% pure) Alloyed with germanium for increased tarnish resistance and a whiter finish, similar to fine silver. It also has great durability and strength.

V. INTRODUTION OF PLATINUM

The name platinum is derived from the Spanish "platina", meaning "little silver". Platinum is a lustrous silvery-white, malleable, ductile metal and a member of group 10 of the periodic table of the elements. It has the third highest density, behind osmium and iridium. Platinum is unaffected by air and water, but will dissolve in hot aqua regia, in hot concentrated phosphoric and sulphuric acids, and in molten alkali. It is as resistant as gold to corrosion and tarnishing. Indeed, platinum will not oxidize in air no matter how strongly it is heated.

VI. INTRODUCTION OF DIAMOND

Diamond[a] is one of the best-known and most sought-after gemstones.They have been used as decorative items since ancient times. The hardness of diamond and its high dispersion of light — giving the diamond its characteristic"fire" — make it useful for industrial applications and desirable as jewelry.Diamonds are such a highly traded commodity that multiple organizations have been created for grading and certifying them based on the "four Cs", which are color, cut, clarity, and carat. Other characteristics, such as presence or lack of fluorescence, also affect the desirability and thus the value of a diamond used for jewelry.

A. Types of Diamond Jewellery

1. Natural Diamonds: What do you think of when you hear the word diamond? A white sparkling rock found somewhere in the mines, right? That’s exactly what natural diamonds are! These naturally occurring gems are white or colourless.
2. Treated Diamonds: These are artificially enhanced versions of natural diamonds. These gems are mined just like regular diamonds. However, we manipulate their attributes through different kinds of treatments to make them look better. One of the treatments they aresubjected to is inclusion filling. In this treatment, special material is used to hide the inclusions in the stone. Another treatment is the colour enhancement. Treatments are usually done on diamonds that cannot otherwise be sold in their natural form. Treated diamonds are sold for dramatically lower prices that their natural counterparts.
3. Man-made Diamonds: They are also commonly known as lab-grown diamonds. Man-made gems have become a trend recently. And their popularity is on the rise owing to the fact that they are technological products. With the evolution of technology behind man-made diamonds, their manufacturing becomes cheaper. They are only going to become cheaper in the coming years.
4. Natural Coloured Diamonds: These are a rarity in the world of diamonds. They occur in a variety of colours, such as purple, blue, red, green, and black. The most common colours are, however, pink and canary yellow.

Conclusion

The jewellery shop are able to get better their service by given that information to their consumers on their purchase. More concentration can be given towards the quality of gold, offers and discounts to attract more consumer towards them. To reduce the competitor shop can sell fashionable light weighted gold jewellery to attract more. Gold jewelry has resale cost and this makes great benefit and asset for the buyer. This medal is important on the list of investments and worth. In the world, gold jewelry is very essential value in numerous cultures because it becomes a symbol of wealth. Also is likely to be a religious and cultural implication. These are the reasons to make gold jewelry a kind of art in India and all over the world.

References

[1] Berad, N. R(2019). A comparative study on the consumer’s preference towards branded jewellery over non branded jewellery in Nasik city. International Journal of Applied Services Marketing Perspectives Journals, 4(1), 1419-1426. [2] Laurence E. Blose (January– February 2020). Gold prices, cost of carry, and expected inflation. Journal of Economics and Business, Volume 62, Issue 1, 35-47. [3] Hari Chauhan. (2021), “The love for jewellery by the Indian woman” Indian journal of Traditional Knowledge vol.4(2)

Copyright

Copyright © 2023 Ms. R Akshaya Sudarshana, Ms. Valarmathi. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.