Tanish Final Project

A STUDY ON NEW TRENDS IN MARKETING OF
URBAN JEWELLERY
Bachelor Of Banking And Insurance
Semester V
Academic Year 2023-2024
Submitted
In The Partial Fulfilment Of The
Requirements For The Award Of The Degree Of
Bachelor Of Banking And Insurance
By
Tanish Soni
Roll No 64
Under The Guidance of Prof. Prateek Kumar
Declaration by the Learner
I, Tanish Soni, Student of Bcom in Banking and Insurance
declare that the project for the titled A Study On New
Trends In Marketing Of Urban Jewellery.
Submitted by me for Semester V during the academic year

2023-2024 is based on actual work carried out by me under
the supervision of Prof. Prateek Kumar.
Wherever reference has been made to previous works of

others, it has been clearly indicated as such and included in
the bibliography. I, here by further declare that all
information of this document has been obtained and
presented in accordance with academic rules and ethical
conduct.
I Further state that this work is original and not

submitted anywhere else for any examination.
Certified by: Professor Prateek Kumar
Signature: ____________________
Learner: Tanish Soni
Signature:___________________
Table of Contents
1. STATEMENT OF THE PROBLEM
2. OBJECTIVES OF THE STUDY
3. JUSTIFICATION OF THE OBJECTIVE
4. STATEMENT OF HYPOTHESES
5. SCOPE AND LIMITATION OF THE STUDY
6. RESEARCH METHODOLOGY
7. COLLECTION OF DATA
8. PRIMARY DATA
9. SECONDARY DATA REVIEW ON PROMOTIONAL RELATED MARKETING
STRATEGIES
10. CURRENT TRENDS IN MARKETING OF URBAN JEWELLERY
11. RESEARCH FRAMEWORK
12. PROFILE OF ZAVERI BAZAAR
13. LEGACY OF ZAVERI BAZAAR
14. REVIEW OF LITERATURE
15. MARKETING STRATEGIES
16. REVIEW ON PRODUCT ASSOCIATED MARKETING STRATEGIES
17. ZAVERI BAZAAR JEWELLERY PROFILE
18. MARKETING TRENDS AND STRATEGIES OF THE URBAN JEWELLERY MARKET
19. MARKETING TRENDS
20. FACTORS AFFECTING THE BUYING BEHAVIOUR OF THE CONSUMERS.
21. CONCLUSIONS AND SUGGESTIONS.
22. TESTING OF HYPOTHESES
23. BIBLIOGRAPHY
24. QUESTIONNAIRES
Abstract
This paper attempts to understand the latest marketing trends in the jewellery market. In
recent times social-media, technology, and data-centric trends have a great influence on
contemporary marketing. A huge consumer base of the jewellery industry makes it viable for
manufacturers to satisfy to a large market and obtain profits.
It is also important for the marketing team to know which trend has come to settle and which
one will not last long while deciding marketing strategies. The research methodology of this
paper comprises a thorough study of secondary sources of data. Research papers and articles
mainly from reputed journals, marketing books, trend forecast magazines, and e-resources of
related fields were reviewed to gain insight and conceptual understanding of the topic.
Research also includes the author’s personal views, interview, and discussion with designers,
bloggers, jewellers, start-up founders and consultants as primary sources. The latest
marketing trends will be the game-changer for the global and domestic jewellery market soon.
This study would help to explore the marketing research in gems and jewellery industry in the
area of content marketing & creative storytelling, crowd-sourcing & co-creation of design,
neuromarketing, consumer experience, omnichannel marketing, applications of internet of the
things, creative marketing and user experience, augmented reality & virtual reality, artificial
intelligence, retail environment and E-commerce, along with social media as an important
marketing tool in the edge of internet.
This research also aims to explore the possible suggestions to the jewellery retailers and
marketers about implementing the latest marketing trends apart from relationship marketing.
INTRODUCTION
Indian’s obsession with gold can be understood by the gold consumption pattern in India.
Indian society reflects strong bonding towards shining metal as it imbibed the Indian
communities with religious and cultural values. To understand the Indian obsession for gold,
their awareness, marketing strategy to hold them are examined in the given study. It is also
going to highlight the research methodology used to achieve the objective of the study. It
gives a glimpse of the research problem, needs, and relevancy of the study. Followed by
objectives, justification, and hypotheses along with the scope, and limitation of the study. It
also foretastes the fieldwork of data collection, sample designing, drafting of questionnaires,
and data collection. Finally, it gives a preview of data analysis and technical tools used to
justify the hypotheses and prepared the reports.
“Gold is one of the precious metals found on the earth. The yellow shining metal has
influenced mankind, since the ancient era. It has a strong bonding towards Indian society as it
has imbibed the community with religious and cultural values. Accumulation of gold has
symbolization of wealth, progress, and beauty in the Indian society.”1 The desire of holding
gold is present in all the classes and communities of people in India. Gold has its significance
and inseparable position in Indian culture. It has also credited a remarkable position in the
global market and attracted people from all over the world with its beauty, glory, and charm.
Indian’s attraction towards gold has grown deeper and deeper, which can be understood by
analysing the fact that India is the second-largest gold consuming country in the world. These
culturally imbibe metal has found a place in Indian's heart and homes by holding maximum
gold in jewellery form. Though there is a huge disperse in the price of gold people discover a
way to buying gold.
There are certain factors that command the demand for gold in the Indian market. Gold is
considered as auspicious metal bring good luck and prosperity in varies religious and cultural.
It acts as a family heirloom of transferring a piece of gold jewellery as a family legacy.
From the above, It can determine the Indian consumer have a special obsession with gold.
Hence it has created a curiosity to understand the gold market its strategy to hold consumers.
So the researcher took Zaveri bazaar to study its marketing trends incorporated to increase
sales and stimulate the consumers. The iconic bazaar is the prime centre of the 60 per cent
gold business in India.
STATEMENT OF THE PROBLEM
The world’s largest gold consumer market having diversity in taste; the appetite for
consuming gold jewellery also varies from regions to region. In India, amaximum (near about
80 per cent) of gold is used for jewellery fabrications. So that huge need can be catered but
still, it will be easy for the customers to become the victim of adulterated quality of yellow
metal. A customer doesn’t have an instrument to check the purity and authenticity of the gold
jewellery they have purchased. The knowledge of the hallmarking scheme is very poor among
them. As a result, jewellers can easily manipulate them. The traditional Indian gold jewellery
has to design various strategies to cater to the diverse taste and global competition. So do the
jewellers adopt a different strategy to customize the need for diverse appetite for purchasing
gold jewellery? Similarly, there are some more loopholes in the Indian gold jewellery market
which is light out as follows.
• Indian consumer finds it difficult to check gold purity which is measured in karats.
• No rationalization of making charges by jewellery.
• Lack of proper resale value of old jewellery in the market.
• Modification in the consumer buying pattern and perceptions towards gold purchase.
• Marketing strategy does have a similar result on everyone so jewellers need to design new
customize a strategy to cater diverse taste of the consumer.
• The unorganized sector is considered to be a bottleneck for the growth of the ornament
market in India.
• Absence of suitable infrastructural facilities
• Entering corporates house in the jewellery industry.
These problems are also affecting consumer buying behaviour hence, a detailed study is
necessary to overcome these problems. By considering the importance of the gold market and
the requirement of a detailed study, the researcher has selected an important subject "A
STUDY OF NEW TRENDS IN MARKETING OF URBAN JEWELLERY AND ITS
IMPACT ON CONSUMERS BUYING BEHAVIOUR WITH SPECIAL REFERENCE TO
ZEVARI BAZAAR IN MUMBAI.” for study.
OBJECTIVES OF THE STUDY
There are various studies conducted on marketing strategy adopted to increase market
performance and its impact on consumer behaviour based on different consumer durable
goods, and luxury goods like gold. However, no significant study has been conducted to
understand the Zaveri bazaar its dynamic new trends catering to the diverse consumer, and
the impact of this strategy on buying behaviour. Considering this and above mention problem,
the researcher has agreed to direct the study which deals with new trends in marketing and its
impact on consumer buying behaviour, Hence the researcher will be able to justify the
research question by laid down the following objectives:
1. To study the Jewellery market in Mumbai.

2. To study the Zaveri Bazaar jewellery market.
3. To understand the new marketing trends used in the jewellery market.
4. To identify the factor responsible to design new trends in the jewellery market.
5. To establish a co-relationship between marketing trends and performances of the
jewellery business.
6. To study gold jewellery consumers' perception and buying behaviour.
7. To study the co-relationship between new marketing trends and consumer buying
behaviour and related factors.
8. To study the problem faced by jeweller business and consumer.
9. To recommend suitable marketing trends to influence the buying behaviour of the
consumer.
JUSTIFICATION OF THE OBJECTIVE
The purpose of this study is to examine the new trends observed in the marketing strategy of
the jewellery market and its impact on consumer buying behaviour. There are many studies
conducted on the jewellery market of India and understanding the marketing strategy adopted
to boost the sale. There is numerous studies have led to understanding consumers' buying
behaviour on various consumer durable and luxury goods in Indian. Some studies also focus
on the marketing strategy of the gold market and its impact on buying behaviour, but there is
a lack of knowledge about the new trends incorporated in the jewellery market to cater to the
changing needs of consumers.
As in this dynamic and technological fast-moving world, the desire and needs of consumers
are changing. It needs to be addressed properly by drafting customize marketing mix
strategies to cater to each consumer.
Though our modern consumers are well educated their literacy towards purchasing jewellery
and hallmarking scheme is still poor. Even the iconic bazaar of the British era lacks the basic
infrastructure facilities to cater to the requirement of their various stakeholders. Hence this
study has an emphasis on all those research gaps which was not served in other studies. The
given study also bridges the research gap of evaluating the marketing strategy of the urban
market like Zaveri bazaar known as an iconic, ancient bazaar holding 60% of gold trading in
Indian. This study similarly focuses on how this British era market caters to the needs of the
urban consumer with their changing desire towards gold jewellery.
STATEMENT OF HYPOTHESES
The researcher has laid down the assumption that explains and throws light on new marketing
trends used and their impact on buying behaviour. It also discusses the factors responsible for
drafting new trends in marketing strategy. The major hypotheses undertaken for the study are:
H0: New trends in marketing strategy have no impact on jewellers' performance.
H1: New trends in marketing strategy have an impact on jewellers' performance.
H0: New trends in marketing strategy have no impact on consumer buying behaviour.
H1: New trends in marketing strategy have an impact on consumer buying behaviour.
H0: Organized retail sector has no impact on the unorganized retail sector of the jewellery
industry.
H1: Organized retail sector has an impact on the unorganized retail sector of the jewellery
industry.
H0: There is no impact of corporate houses on the jewellery business. H1: There is an impact of
corporate houses on the jewellery business.
SCOPE AND LIMITATION OF THE STUDY
Mumbai is the capital market of India along with other sectors, it is popular for its gold
jewellery market. The maximum (60%) gold jewellery business across India is carried out in
the Zaveri market. Hence, the researcher has study the gold jewellery market (Zaveri bazaar)
situated in Mumbai. Present research work covered the following important aspects.
The present research study is related to the marketing of urban jewellery and the impact on
consumers in Bazaar.
The concept of jewellery is wide; the Researcher had covered only gold ornament jewellery
present in Bazaar.
To study the new trends existing in the urban jewellery market MUMBAI: Zaveri Bazaar is
selected by the researcher. The whole Zaveri Bazaar was selected.
Study new marketing strategies and trends particularly related to the urban jewellery market.
The study had covered the impact of new marketing trends in the jewellery business and as
well as on consumer buying behaviours.
The study is purely focused on the retail jewellery market present in the bazaar.
The enquiry is based on consumer buying behaviour towards gold jewellery.
The investigation also talks about the various factors influencing the new marketing strategy.
The study focuses on the gold jewellery market located at the south Mumbai Bhuleshwar
name Zaveri Bazaar. Few jewellers address it as Zaveri Bazaar and some as Zevari
Bazaar they both are one and same.
LIMITATIONS
The study is mainly restricted to new marketing trends in the urban jewellery market and
their impact on consumer behaviours.
The research is limited to jeweller and consumer present in Zaveri bazaar consuming only
gold jewellery.
Silver ornaments, Diamond and semi-precious stone ornaments are not covered in detail.
Other jewellery markets located in Mumbai are not studied deeply.
The financial wealth of the jewellery business and consumers are not covered
The period of research work is limited to 2012-13 -2018-19.
RESEARCH METHODOLOGY
This section is going to throw the light on the research methodology used for the study and it
is arranged logically to interlink the relationships of the concepts. Depending upon the
objective of the study descriptive research method is more supportive. To understand the
different dimensions of new trends in the marketing of jewellery and its impact on the
jewellery market as well as on consumers.
COLLECTION OF DATA
The study has force basically on the primary experiment but to justify and understand the few
objective and concepts support of secondary data was used. So basically it’s a blender of
primary and secondary data. To study the research related problem in a detailed manner. The
researcher has made use of various sources to gather relevant and reliable information on a
study of new trends in marketing urban jewellery and its impact on consumers' buying
behaviour. Data is collected from a first handed primary source and a reliable secondary
source.
PRIMARY DATA
Primary data has collected by the blending of structure questionnaires from jewellers and
consumers, in the selected urban market of Zaveri Bazaar. The structured questionnaire
includes the following points.
a) Structure questionnaires
To find the objectives of the study researcher has drafted a structure questionnaire
individually for jewellers and consumers of the bazaar. Close- ended questions were used to
get relevant appropriate answers from jewellers and consumers. Even the Likert scale was
used to measure the attitude of jewellers and consumers for new marketing trends and factors
affecting them. Total number of respondent’s response the questionnaire are 280 jewellers
and 474 consumers. The objective-oriented structure questionnaires were based brief
description of the information about
• Reference books like dealing with marketing strategy and the gold market in India Principles
of Marketing, Costume, Textiles, and Jewellery of India Traditions in Rajasthan, Indo Greek
Jewellery, Marketing Management.
• Different reports on the Report of Indian Brand Equity Foundation (IBEF), PC Jeweller,
Zaveri, Samrat, press released of world gold council.
• A newspaper like The Hindu, Times of India and Economic times
SECONDARY DATA
• Secondary Data will be sourced from existing relevant research paper and news
articles.
CURRENT TRENDS IN MARKETING OF URBAN

JEWELLERY
Influencer Marketing And Collaboration.

Brands are partnering with influencers and others brands to create buzz and reach new
audiences.
For example: Tanishq collaboration with Deepika Padukone.
Social Media Advertising and Engagement.
Platforms like Instagram and Facebook are being used to showcase

products, engage with customers, and build communities.
Creating a own website and advertising it on social media helps a business
to boost and attract more customers.
Personalization And Customization.
Nowadays coustomization can be easily done in urban jewellery. Customers
can select their own design and make the type of jewellery they wish to
wear. Customer can engrave their name on rings, they can also make their
name pendant.
RESEARCH FRAMEWORK
The research framework talks about the flow or direction of the research study. It highlights
the steps taken by the researcher to conduct the research study. In short, it acts as a blueprint
or guideline of how the research will progress further. In simple words, it is a process of
visualizing the steps taken by the researcher to complete the study more systematically. Here
in the given framework, the researcher has divided the entire research work into three stages
that are explained in a diagrammatic manner in the given below diagram
Stage – I is the beginning stage of the research framework,
Stage – II signifies the fieldwork
Stage – III concluded of technical analysis and reporting
Diagram: 1.1 Research Framework

PROFILE OF ZAVERI BAZAAR
The iconic bazaar located at the heart of south Mumbai Bhuleshwar is a house of traditional
and contemporary gold, silver, platinum, and diamond jewellery. “Time- honoured Dagina
Bazaar is nestled with more than 7000 jewellers and act as the live hood of many karigar.”1
British date bazaar also holds the apex bullion body the India Bullion and Jewellers
Association Ltd (IBJA). It has provided the unbiased platform with a comprehensive
approach to solving the problem and challenges mugged by the bullion traders in a newly
liberated India.
A most interesting fact about the bazaar is that tangle narrow lane and synonym shop
structure make the visitors puzzle to fetch the way to the shop unless he has unique lane
name and shop numbers to find it properly. The bazaar is dominated by traditional family
businesses to pass on from one generation to another. The bazaar serves a variety of jewellery
catering to the regional taste, favour, and also a wide range of designs suiting everyone’s
pocket. The bazaar focus on the seven P’s of marketing strategy used by the goldsmith to
customise the need of business and consumers.
“Dagina Bazaar" is the popular name given by the resident of Mumbai, which is well known
as Zaveri Bazaar. The iconic market is located in the heart of the Crawford market and
Mumbadevi, Bhuleshwar, South Mumbai. The glory of Zaveri Bazaar is spread on the Island
of Mumbai for more than 150 years. This traditional market is the prime centre for B2B and
B2C trade transactions. The Bazaar caters to the needs of all kinds of customers from
traditional design to contemporary gold, silver, platinum, and diamond jewellery.
LEGACY OF ZAVERI BAZAAR
India is also Know by the name “Sone Ki Chidiya” (golden bird) because of its legendary
contribution towards the art of gold jewellery. The intricate and beautiful masterpiece of
jewellery crafted by Indian craftsmen was always a centre of attraction has credited India as
“Sone Ki Chidiya”. It means love for gold in India is the heritage from its ancient culture
and traditions. So we can find a well-flourished gold market in every part of India. Here
researcher is studied about one of the wells flourished the iconic gold market known as
‘Zaveri Bazaar’
The word Zaveri is an Indian surname used mainly in the gujarati community. It means
jewellers the people belong to the jeweller’s community used to use the surname called
Zaveri. But all the people with Zaveri surname are not necessary to be jewellers. It might be
the ancestors may be jewellers. Hence Zaveri Bazaar in explains Zaveri means jewellers and
Bazaar means to market a Jewellers market. The resident of Mumbai has nicknamed the
Bazaar as Dagina Bazaar.
This Dagina Bazaar is the home for thousands of small jewellers occupying the business area
of nearly 150 sq feet of shop space which is worth crores of rupees. It also incorporates big
players and big brands of India like Thribhovandas Bhimji Zaveri, Tanishq, Keertilals,
Dwarkadas Chandumal, and many more. It won't be wrong to comment "Zaveri Bazaar as a
Pandora box able to fulfil everyone's wish".
The tangle of narrow lanes and passionate shoppers of Zaveri Bazaar has ruled and
channelized “the 60%of India's jewellery business. Most of the gold transactions across
India are trade in the narrow lane of the market. The jumble and the noisy narrow lane has
over 7000 shops tailoring the needs of consumers. It is estimated that roughly around 500,000
visitors in the area daily”2. Even the City traffic police commissioner marked Zaveri
Bazaar as no hawking and no parking zone. This rule indicate the importance of Zaveri
Bazaar and also financial transactions. To evaluate the progressive trend of Zaveri bazaar can
be highlighted by the financial progress of two big players occupying the prominent
place in bazaar are as follows.
Table: 4
Key Operating numbers of Titan
Titan FY12 FY13 FY14 FY15 FY16 FY17
Domestic revenues (INR mn) 69,898 80,324 86,274 94,206 87,080 102,373
Growth (%) 14.9 7.4 9.2 -7.6 17.6
EBIT (INR mn) 6,232 8,152 8,489 9,348 7,847 10,387
EBIT margin (%) 8.9 10.1 9.8 9.9 9.0 10.1
Share of studded jewellery (%) 26% 28% 30% 31% 28% 29%
No. of showrooms (#) 163 179 198 209 227 239
Retail space (sq. ft.) 387,000 521,000 632,000 718,000 808,000 868,000
Growth (%) 34.6 21.3 13.6 12.5 7.4
Average store size (sq. ft.) 2,374 2,911 3,192 3,024 3,163 3,632
Average revenue/store (INR 429 470 458 463 399 439
mn)
Average revenue/sq. ft. (INR) 208,030 176,924 149,652 139,564 114,128 122,163
Source: Company, Motilal Oswal Securities Limited (MOSL)
The bazaar is also known as the largest hub of the jewellery industry attracting the buyer from the length
and breathe of the country. The busy, crowded tangle narrow lane of the bazaar has also witnessed the
terrorist attract of bombast to affect the financial supremacy of the city. But the zeal of Mumbai city
and Zaveri bazaar has manifest itself over and over again. The ability of the bazaar to rise above every
crisis was remarkable. The stress jewellers undeniably have no choice but to pick up the responsibilities
towards their community and get back to their lives by making the bazaar alive every next morning. The
bazaar led down a benchmark spirit to others living under the shadow of an urban terror strike. After the
terrorist attack, the bazaar security was more focused on installing a lot of CCTV cameras covering the
complete bazaar area.The bazaar caters to the need of a huge variety of consumers by offering the
traditional design to fashionable design suiting everyone's desire. Right from pendent to exclusive
jewellery set and brooches for men. Everything available in one place and fitting in your customize
pocket size. Only you have to be a little explore to the bazaar mood. But if you aren’t interested in gold
jewellery than bazaar offers imitation jewellery with wide varieties suiting your taste and preferences.
You can also fetch artworks, especially on wood and brass the bazaar is also famous for these types of
artworks. It is a shopping paradise for other good articles like dinner sets, toys, party items, stationery
products, electronic goods, cookware at wholesale prices. Each lane is fixed for particular goods and all
dealers of similar products are available there. So the historical bazaar is nested by the varieties of goods
serving various needs of consumers. Includes the famous Mangaldas market for clothing, wholesale fruit
market, and dry fruit bazaar satisfying the other needs of consumers. As the bazaar is well known for its
creditable achievement as the largest exporter of gold to the Middle East countries. But you can’t stop
yourself from lip-smacking delicious cuisine of Mumbai street food. The famous “Kawu Gali” will take
you on the heavenly tour of delicious vegetarians and meat lovers. It pleases you with delicious mouth-
watering food after the tiring experience of shopping.
REVIEW OF LITERATURE
A review of literature can be assumed as analysing the work of other directly or indirectly related with
the research. It gives a summary of the work carried out in an interesting research area. The literature
review serves the two main objectives of the researcher. It helps to find the research gap in the
interested area and design research accordingly. Secondly, it also creates awareness about the existing
research conduct in your respective research field. So to achieve both objectives here the researcher has
conducted a literature review. To develop a better insight on marketing strategies adopted by the gold
industry to attract its targeted consumer following literature is reviewed.
The key mantra for the success of any business is to generate trustworthy and loyal consumers. This
can be credited by designing a fruitful suitable marketing trends. A good marketing trends includes
several marketing variables that combine to sell a product to the target market. The researcher is
deeply interested in knowing the different marketing trends used by the gold ornament market in
achieving its target and also its impact on the ornament market. To justify the interest of study the
researcher has reviewed various pieces of literature like Research Journals, Reference Books,
Reports, and Articles published in national and international newspapers.
This chapter covers the systematic review of available literature that gives a brief insight into the work
conducted in past. So that researcher can identify the research gap. The chapter is distributed into three
divisions. Section one includes a review of the literature on marketing strategies product, place, price,
promotion and consumers used by the gold ornament market to achieve its marketing goal. Section two
has highlighted a review of the gold ornament market in India. Section three has incorporated literature
on consumer buying behaviour in the Indian ornament market. So let us understand the literature given
below.
MARKETING STRATEGIES
The collection of numerous marketing strategy literature based on India and aboard are included in
this study. This section is systematically arranged further into five parts. The segmentation integrates
the brief study of market mix elements like product base marketing strategies, place related marketing
strategies, price-related marketing strategies, promotional marketing strategies, and people-based
marketing strategies.
Marketing policy is a road map of navigating the business into a profit destination by reaching
targeted consumers with customised goods or services. It acts as a fuel for the growth of the business,
serves more and more consumers with t quality products or services. It is about understanding your
target audiences and designing the product or services according to the requirement of the consumer.
Kotler, Philip and Gary Armstrong., (2005)1 in his book ‘Principles of marketing’ suggests the
organization should blend the 4ps of the marketing mix in the best possible manner to achieve the
maximum possible result. Marketing mix can be blended in several ways depending upon the nature
of the product, organization objectives, competition, and customers’ expectations. The main focus of
the marketing variables is the customer. It should be arranged to generate customer satisfaction and to
achieve organizational goals.
REVIEW ON PRODUCT ASSOCIATED MARKETING

STRATEGIES
Whenever a company launches a new product in the market, beforehand it designs the strategy to
make the product working in the market. Various steps design to make the product as per the need
of the target consumer and making them aware of the new product is included in the product
strategy which is part of the wholesome marketing strategy of any company.
REVIEW ON PRICE ASSOCIATED MARKETING STRATEGIES
Price is a monetary exchange value of goods and services at which the product is sold. It also
plays a vital role in determining the demand for the product in the market. It is an effective tool in
the hands of an organisation to design the best competitive price that generates profit and
customers. To understand this in a detailed manner the given literature is reviewed.
1. Bhandari Vandana (2005)8 in his book “Costume, Textiles, and Jewellery of India Traditions in
Rajasthan”, had enlightened us with the finding that thought the branded jewellery has occupied a
small share in the jewellery market because most of the Indian buyer have a mind-set for the
jewellery as an investment opportunity. Indian consumer prefers their family jewellers while
purchasing jewellery. But, branded jewellers are trying hard to change the mindset of the
consumers by offering attractive designs at very affordable prices to fix for every pocket. So here
the author designs attractively affordable ticket prices of gold jewellery suiting everyone’s pocket.
REVIEW ON PROMOTIONAL RELATED MARKETING

STRATEGIES
Promotional marketing strategies are designed to attract consumers by giving them special offers
that generate interest and enhance the purchase of consumers. It also helps to stand and sustain in
the competition. So this section has tossed light on literature related to promotional marketing
strategies in the gold ornament market.
2. Shikha Pareek Joshi and Dr Harsh Dwivedi, (2014)11“Consumer Buying Behaviour towards the
Gold Jewellery especially in Jaipur City”, conducted this research to study the jeweller buying
preference of the consumers in Jaipur city. The objective of the study is to understand the factors
influencing the buying behaviour of the consumers in Jaipur city. The researchers suggested that
giving attractive advertisements through the media like online, television, newspaper, radio, and
magazine can improve sales. Conducting customer’s survey on change in taste and attributes of the
customer can help to develop a better product. Introducing more attractive cash discounts schemes
and more sales promotion measures to the customer to enhance and increase in the sale of gold.
3. Shamily Jaggi., And Dr Sanjay Kumar Bahl., (2017)., 13

“Brand And Customer Loyalty Towards
Jewellery: Impact Of Advertisement Appeal”,the study is conducted on the impact of
advertisement on brand and consumer loyalty for gold jewellery. According to the study
advertisement appeal plays an active role in designing consumer buying behaviour. It helps in
converting prospective consumer to loyal consumer and boost the sale of jewellery. It also states
that the success or failure of any business depends on advertisement appeal. Varies advertisement
components show a positive impact on consumer-pleasant and emotional appeals that increase their
desire to be brand loyal. The researchers suggest that advertisement appeals have a great impact on
the buying decision of the consumers so more attention should be the focus on different
advertisement appeals to cater to the need and growth of the business.
Thus various promotional approaches design by the marketers to appeal the targeted
consumer for converting them to brand loyal and design the most effective marketing strategy to
achieve the set goal of the market.
ZAVERI BAZAAR JEWELLERY PROFILE

The ancient bazaar of south Mumbai is a hub of gold jewellery business in the Indian
market. It is a paradise for elegant and exquisite, and lush extravagance ornaments never seen
before. The bazaar is a Pandora box to adore yourself with a good piece of precious, unique
ornaments and as well tailor the need of every customer and fitting each person's pocket size. The
bazaar is an iconic landmark of jewels buyers with over 7000 old-new and small-large shops of
traditional, contemporary gold, silver, platinum, and diamond jewellery. It is a perfect gateway to
delicate design and sophisticated craftsmanship.
The bazaar offers customized jewels from local to luxury brands like Tata. It also obliges
the specialized Indian market with different religions, customs, and tastes. Bridal jewellery to daily
wear jewellery is finely crafted here with excellent intricate design flavouring every custom and
occasion of Indian festivals and rituals. The glitter sparkling market suggests a vast variety of
jewels that are listed below.
1. Fashion Jewellery: Fashion jewellery is jewellery made by low carat gold and other sterling silver
metal and also crafted by semi-precious or ordinary stones. A low priced jewellery crafted as a
substitute for expensive jewellery and acts as a style statement as it matches the modern design
and current trend of society. It can be also considered as daily wear jewellery crafted by low carat
gold of 18 or 14 carats (solid gold) lightweight. It is mostly worn at parties and wedding as a style
icon matching with the personality of the owner.
2. Plain gold jewellery: - Plain gold jewellery is jewellery made of pure, real gold of 23 or 22
carats shaped with elegant design, perfect cuts, and lustrous polish. The ornaments are crafted
by pure gold metal without using and semi-precious or precious stones and pearls. Complete
yellow pure gold metal created with graceful contemporary design meeting traditional and modern
needs.
3. Navratan Jewellery: - “Navratan is a Sanskrit word that means nine gems or nine coloured stones
representing nine planets in astrology. It is a piece of jewellery crafted by using nine auspicious
stone in a single ornament”6. It is believed that nine stones collectively bring fortune, good luck,
and power to fight against misfortune. In simple terms jewels made by using nine coloured
auspicious stones demonstrating astrological values. Navratan can be incorporated into any form of
jewellery like a bangle, bracelets, rings, locket, etc.
4. Bridal Jewellery:- Bridal Jewellery are handcrafted jewellery made with elegant, intricately
detailed design assimilated with emblematic of several spiritual and cultural traditions followed by
part of numerous religions. They are shaped with various colour design and sparkling technique
like meenakari, lacework, Kundan, jadau, and polki produces stunning jewellery. It is also called
traditional jewellery or wedding jewellery.
created as per the influence on every culture and religion of India for adorning the bride auspicious
occasion.
5. Handmade jewellery: - It is a piece of jewellery created by the hands of askilled worker. Crafting
of complete jewellery right from sketching of jewellery design to polishing and assembling of the
final piece of jewellery purely by its hand. No machine is used. In simple terms, a piece of wearable
jewellery customizes as per your needs by skilled craftsmen. It delivers superior quality and
reliability. They are a little costly as compare with machine-made mass jewels but their uniqueness
is priceless.
6. Meenakari jewellery: - “Persian jewellery introduced in India by the Mughals. A piece of jewels
painted and enhanced by energetic colour in the dramatic style of birds, flowers, and leaves on a
different type of metal like gold, silver, etc. Meenakari design of jewellery is the practice of
coating the intricate design in ornaments with coloured enamels”7. This jewellery is gorgeously
shaped on different themes and occasions to make it more attractive. The art of meenakari goes
perfect with the gold as the metal has its shine-enhancing beauty.
7. Lac jewellery: - “Lac is a gummy substance obtained from an insect called kerria Lacca. It is used
in making jewellery, basically originated in West Rajasthan. Jewellery made by lac appears gloss
and attractive due to its vibrant colours and high in demand. The process of making lac is
complicated and required a high degree of correctness. The lac jewellery can be crafted in various
design but the most famous is bangles. Hyderabad and Bihar are also leading states in producing
lac jewellery”8.
8. Kundan Jewellery: - “the oldest form of jewellery crafted in Indian by Rajasthani and Gujarati
craftsmen. It prospered well in the Mughal era. The word Kundan means 'highly pure gold'. A
jewellery made with precious and semiprecious stones set in gold foils provides brilliants shine. A
piece of Kundan jewellery is a master artist of its flawless finishing and age-old crafting method. It
is crafted in all type of jewellery but the most popular ones are choker, layer necklace, bracelets,
and earrings”9.
9. Jadau jewellery: - “jadau is a technique used for making Kundan and Polki jewellery. The word
jad means to set the stones in jewellery so artists use the jadau technique to the finest jewellery of
Kundan and Polki. The
finest craftsmanship was gifted to India by Mughal and carried forward by Rajasthani craftsmen.
Jadau's work is an example of teamwork like Chiterias creating the elementary design, Ghaarias for
craving holes, stone setter to set stone, and finally enameller to colour the jewellery and the
masterpiece are ready”10.
10. Filigree jewellery: - “It is an exclusive technique of crafting handmade jewellery by twisting
threads of precious metal of gold and silver into its design. It takes shape of lacelike
embellishments and the perfect blender of art and decor style. The technique was originated long
back in Egypt but popularised in Asia and India. Delicate pattern and sophisticated designs are
crafted in filigree jewellery”11.
SEGMENTATION OF JEWELLERY AT NATIONAL LEVEL

Let us understand the jewellery consumption in India. There are majorly classified in three
category like Bridal, Daily wear and Fashion jewellery. Mostly the bridal jewellery are more in
demand. “Around 40%–50% of gold jewellery and bars and coins bought in India is for weddings.
Although there are no official figures for the number of weddings, it is likely to be between 8mn
and 10mn per annum.”1 These segment of jewellery consumption can be explained with the
following tables.
Table:4.8
Segmentation of jewellery At National Level
Bridal Daily wear Fashion jewellery
Market share by 50%-55% 35%-40% 5%-10%
weight
Caratage 22k, 23k, 18k 22k, 18k 18k, 14k
Size 30gms-250gms 5gms-30gms 5gms-20gms
Small sets: 30gms- Chains: 10gms-20gms Chains: 8gms-
60gms 15gms
Large sets: 60gms Necklace:20gms- Pendants: 1gm-
30gms 3gms
Earrings: 15gms Earrings: 5gms-8gms Earrings: 3gms-
5gms
Bangles: 30gms Bangles:10gms-
25gms
Waistbands: 40gms Pendants: 5gms-
10gms
Bindi chains: 40gms
Source: Metals Focus; World Gold Council page no 21

Analysis:
1. The above table represent the three major jewellery segment ruling the market and satisfying the
consumers need across the nation. As mention above 50-55% of jewellery are brought for marriage
propose. Hence the bridal jewellery hold the first position in the Indian bazaar. Bridal jewellery
are available in 23K, 22K and 18K with 30-250gm in weight. Small, large sets and earing are
popular products
2. The next preferred jewellery is daily wear jewellery capturing the market with 35-40% and
available in 22K and 18K with a minimum 5gm to 30gm. Chain, earring, and pendant are popular
products.
3. The upcoming growing trend is the fashion jewellery holding the market from 5-10% and cater the
needs with cheap option like 18K and 14K. A minimum 5gm to 20gm with contemporary design of
chain pendant and earring as popular products.
MARKETING TRENDS AND STRATEGIES OF THE
URBAN JEWELLERY MARKET
The market is that the place where the buyer and seller close to shop for or sell the products
and services. In simple terms a physical place of exchanging goods and services for its
predetermined price. Now the term market is not limited to only its geographical area but it has
extended beyond its physical boundary to virtual store available to consumers at 24 x 7 is also
included in market terminology. Let us move on to other terminology known as Marketing most
people consider both as synonymous but it has a vast difference marketing can be understood as a
series of activities conducted to smoothly move the goods and services from manufacturer to
consumer. It starts before the product is design or manufactured and continues after the sale.
“The American Marketing Association has defined marketing as “Marketing is the activity,
set of institutions, and processes for creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at large.”1 It means the activity plan by
an organisation to satisfy the needs of targeted consumers. So the organisation should plan the
necessary activity to attract its consumers. The necessary activity can be considered as plans or
marketing plans to trigger the right amount of consumers.
If the marketing plans are well defined as per the need and requirement of consumers then it
can take the business to the next level. So it is very important to configure the customised business
plan to sustain in the market.
FOCUS ON MARKETING PLAN

A marketing plan is a roadmap of directing the path of delivering goods and services to
potential consumers. So that organisations can generate the desired profit, satisfy the consumer,
and survive in the market. To design a suitable market plan expertise professionals are not required
but a little bit of research attitude, knowing the consumer well, and understanding the market
environment gives the ability to customise a suitable business plan. Such well-crafted marketing
plans can add succeslater to the business. A good marketing plan generates awareness about
consumers. Update you with the competitor's strategy and current market trends. Therefore it is
very important to craft a flawless marketing plan adding success to the business. There are a
few things that have to be considered before drafting any market plan. Especial the urban
jewelleries catering to the needs of Zaveri bazaar consumers. As they are well aware and
educated, so while drafting marketing plans a special care
should be taken to incorporate the marketing trends customising the needs and
requirement if urban consumers. Let's understand a few stages required to be put together for
effective market plans.
Diagram: 5.1 Marketing plans
Stage I
SWOT Analysis:
Identify the strengths, weaknesses, opportunities, and threads to plan a flawless marketing
plan the jewellers should adopt the SWOT analysis technique. It is a very simple and incredible
tool to develop your market plan. Understand and highlight the strengths help to add the various
strong points
and create uniqueness in the market It is also important to understand the weaknesses so that it can
be controlled well.
Working on weaknesses is very essential to make the marketing plan a success agenda.
Based on strength, opportunities are created, and minimizing the weaknesses controls the threads.
Strengths and weaknesses are the internal factors of business that can be controlled highlighted.
Whereas Opportunities and threats are external factors that can be explored and minimised.
It helps to identify the urban jewelleries most suitable strategies for the business with the
available resources, capabilities, and environment. It calculates the positive and negative factors
that affect business success. The analysis supports the decision-making process, and build better
forecasting ability.
Stage II
Understanding Business: analysing the strength, weaknesses, and opportunities, threads generated
by them gives a wider scope to understand the business in a better manner. As an urban jeweller,
the focusing area will be product and services offering to the consumers. Hence there is enough
challenge to meet the desired requirement of the consumer as well as to understand and sustain the
business in competition existing in the city market. Understanding business involves appreciating
your consumers, gearing with the competition and competitors, and adjusting to the environment. It
could be better explained as follows.
1. Consumer:
The complete business move around the consumers. So consumers are the prime important
element of the business. Hence it is very vital to understand the consumer's needs and desires and
cater to them accordingly. “Satisfy the consumer and maintaining the relationship by understanding
the buying needs and offering the service as per their customised need will build trust and loyalty.
Turning the city consumers to your pocket one should understand who is your consumer? What are
their needs and desire? What did they perceive about your brand and business? How you are going
to cater to their desire? What will be the smart master marketing strategy appealing to them?”2 If
you can answer the given question means you can handle them smoothly.
2. Competitors:
Knowing your competitors well is the Guru mantra to add success to your business. Only
understanding your consumer is not enough but understanding your competitors well is a smart
move in a city market like Zaveri bazaar. Competitors are the key role changer in every business
model. It is quite natural that your target consumers may visit your competitors to verify the stocks
held by them. So if you understand and evaluate the competitor's policy well. Then you can offer
something very unique to cater to the expectation of the consumer. Checking the moves of your
competitors will make you and your business more proactive and alive.
3. Environment:
Understanding consumers and move as per the competitor's moves is not sufficient for
designing the business goal of the urban jewellery market. But you are required to analysis and
study the surrounded marketing environment. Normally marketing environment includes the
internal and external environment. The internal factors are controllable that can be controlled and
minimised to enhance business skills. The external factors are uncontrollable and complicated in
the urban city market. It affect the business directly, so strengthening the internal factors and
analysing the external factors will help to design suitable strategies. It will help to establish a better
relationship and trust with the consumers and generate profit.
Stage III
Building Future Plans:
Understanding consumers, marking competitors and, evaluating the environment will help to
lay the foundation of future marketing strategy to grow up the business. The urban jewelleries can
enhance their business plans by laying down the current marketing position in a way that will boost
future goals. As well as by drafting a suitable competition strategy to gear up your business. The
proactive decision on position strategies and competition strategies in future planning to transform
your business to the next level.
1. Planning position:
Plan the positioning policy. Product positioning is the unique way of influencing smart,
educated city consumers. “Positioning is the place or values created in the mind of the consumers
about the product or organisation.
This unique value can be created in the mind of consumers by generating a matchless
difference between your product and others”3. The distinguished product offer is a unique product
that is offered as compared to other products available in the market. These matchless differences
can be created making the product unique and creditable for the consumers.
2. Generate sustainable environment:
After working on product positioning next thing to work on is competition strategies. It’s
very important to understand and design the competition strategies for the urban market like Zaveri
bazaar having very stiff competition. It builds a competitive advantage for a sustainable
environment. Designing well in advance about the type of market you are looking for. Like
approaching for small targeted audiences by Niche marketing (narrow marketing) or too large
audience by board marketing. If focusing on a particular targeted group than narrow marketing
appealing to the small specific consumers and crafting the product accordingly. The large
consumer can be catered to by broad marketing policies. More the focus you are on the targeted
consumers will help to design more customised and focus products catering to the needs of specific
consumers. It will be more appealing to the consumer and helps to generate better-targeted goals
achievements.
Stage IV
Creating Own Brand:
Positioning the product well in the mind of the consumer and drafting a suitable marketing
strategy will help to evaluate your brand in the urban jewellery market. Creating their brand means
generating their own identity about the product, services, and organisation in the mind of
consumers. The own identity can be created by understanding what you are offering to the
consumer? What difference my product is offering to the consumer so that makes them visit my
store and preferred my product. Creating your brand is the best possible practice that will help to
sustain your business in the stiff competitive environment of the urban market.
1. Appreciating the needs of consumers:
Own brand can be created by considering the needs and desires of the consumer and
customising the product, service as per the requirement of
consumers. Understanding consumer’s needs, desires, and pockets will help to customise the
product according to the consumer's wish and need. It will make the consumer more satisfied and
loyal towards your product and brand.
2. Customise offering:
After analysing the consumer’s requirement it is important to chalk down the product that is
an offer to the consumers. It is the only way through which you can offer a unique product line to
attract and hold the consumer towards your brand, store, and services. It will also help to generate
your brand image by offering the consumers something very unique and customise to suit their
pocket and taste. Adding a new product line and designing pleasing buying experiences will
generate unique differentiation for your products, services, and brands. It will generate new trends
in marketing as customised product and also help to serve better in the urban market
Stage V
Building New Consumers:
The ultimate success of a business bank on the input of consumers. How many consumers
you can attract and hold? Can your brand focus on new targeted consumers? Create uniqueness by
attracting consumers to your store rather than competitors. Adding up new consumers will excel in
the profit graph and promote your business to the next ladder of success in the urban jewellery
market of Zaveri Bazaar. Building new consumers is a three-layer processing system like attracting
the targeted segment. Building attitude towards your brand and activating them to purchase your
brand.
1. Attention-grabbing:
It is important to build new consumer by creating awareness about the brand, product offer
by you. If the consumers are well aware of the customise product range available under your brand.
It will lead to compare, analysis from the market, and generate awareness towards your brand. It
help them to remember the product and brand name.
2. Tactic:
Now attracted consumers are transformed into prospective consumers by generating positive
perception or attitude towards your product and brand. The positive attitude can be enhanced by
offering the consumer something very unique and customised as per consumers' desire and
pocket. The
consumers should be able to differentiate your product from the market. The consumer should able
to match his dream jewellery with your product range. Therefore building attitude among the well
aware urban consumer will help hold them towards your product and brand.
3. Action:
In this process, consumers' positive attitude should be transformed to purchase action than
only new consumers are added to your brands. The business also excels at the next ladder of
success. It is said that if you create awareness among 100% of consumers then only 70% of
consumers build a positive attitude towards your product and only 50% out of that turn to be your
consumers after purchasing your brand. So to find that 50% of consumers and converting more
consumers on your brand label should be reinforced by the wide range of product and personalised
services rendered by the staff.
Stage VI
Retaining the consumer:
“Every consumer is very important to you as it has added many success levels to your
brand”4. So it is essential to retain the existing consumers. The consumers entering your shop come
with some predetermined expectations about the product quality, range, and services rendered by
you. Hence it is important to meet the consumer's expectation by offering them more customised
products and services. If they are fully satisfied with your product and services will lead them to be
brand loyal. Consumers are delighted with good product and service will help you to become a
market leader.
Thus the above-given marketing plans help the urban jewellery industry to focus on
consumers and understand the competitor's strategies. It also helps in evaluating the current
marketing trends existing in the bazaar and to design sustainable marketing strategies for survival
and growth.
MARKETING TRENDS
Gold jewellery is always the scale as a centre to attract all the people across the world.
Every person likes to hold the gold and wear it as a fashion, lifestyle and, status symbol. Today
gold does not look like heirloom wealth bring security and respect in society. But also act as a
hedging agent to meet uncertainty. Since the approach and belief towards gold in changing so, it
required a new trend to address the changing customise need of consumers. Understanding the
progressive direction of gold the market has to set new trends to cater for the needs accordingly. It
is absorbed the significant growth in the gold demand and gold market at the global level. The
Indian jewelleries were also the key point of attraction in the world market. The global jewellery
market share the size of USD 278.5 billion market in 2018. It is supposed to expand more in the
future. So a suitable marketing strategy should be designed to tailor the customised need of the
global market. To understand the importance of gold jewellery inthe international market let’s look
at the demand trend of gold worldwide.
Table:5.1
Gold jewellery demand worldwide
Year Gold Jewellery demand (In tonnes)
2012-13 2710.13
2013-14 2510.43
2014-15 2426.31
2015-16 2067.88
2016-17 2200.94
2017-18 2240.2
2018-19 2107
Source: https://www.statista.com/statistics/267360/gold-demand-worldwide-since- 2002/
Analysis:
4. The above table represent the gold jewellery demand at global level. The gold jewellery demand
shows the fluctuation trend. There was sharp decline in the demand of gold jewellery by 23.70%
from the year 2012-13 to 2015-16. After that demand shows increasing trend by 8.33% in the year
2017-18.
The witness in the growth of gold jewellery demand at the global level remind us to draft a
suitable marketing strategy and customised the jewellery as per the need of the international
market. A well proper network of jewellery industry can make it possible to serve the global
market and earn profit. Understanding the fashion trend and designing the jewellery accordingly
fuel the global demand. There are varies factors and trends affecting marketing trends at the global
and national level.
Diagram 5.9
Source: Expert interview; McKinsey analysis (2020 estimated)

https://www.mckinsey.com/industries/retail/our-insights/a-multifaceted-future-the- jewelry-industry-in-2020
Analysis:
1. The above diagram depicts the increasing trend of branded jewellery in India. It means the consumers
prefer to visit the branded store rather than traditional. There has been a 30% increase in the demand for
branded jewellery.
Diagram: 7.11 Jewellery Profile of Bazaar
Plan gold jewellery 240

Bridal jewellery
230
Fashion jewellery 220
Lac jewellery 210
Navratna jewellery 200
Meenakari jewellery 190
Handmade jewellery 180
Kundan jewellery 150
Jadau jewellery 150
Filigree jewellery
90
All of the above 80
0 50 100 150 200 250 300

Source Primary data Questionnaire
Analysis:
1. The Pandora box of bazaar offers a vast variety of ornaments to cater to the desires of a diverse
group of consumers. It includes a huge vary of jewellery that satisfy the different needs and
requirements of consumers. The bazaar serves jewellery profile from the royal Mughal era of
precious stonework of Kundan and jadau masterpiece to vibrant colourful lac and meenakari work
of royal Rajasthani heritage, simple elegant handmade plain gold jewellery to cater daily needs,
adore bride with an intricate design of customizing bridal wish, astrological values to fight against
misfortune like navratan jewels and as well as creating style statement with modern contemporary
design catering as fashion jewellery to the modern generation. Let's understand the statistics of the
data collected are from the bazaar are
2. Plain gold jewellery is most prominently demanded in the bazaar by the consumer. Hence
85.71%of goldsmiths have this type of jewellery in their portfolio.
3. Bridal jewellery engaged the second most demand profile of bazaar offering by 82.14% of gold
smiths. As the bazaar proposal the most
gorgeous and charming jewellery to adore the beauty of the bride and groom.
4. The next leading profile is fashion jewellery more demanded by consumers to add the style
statement to their taste of jewellery. In the bazaar, 78.57% of goldsmiths preferred to have fashion
jewellery on their chart list to serve the consumer with the desired option.
5. Lac jewellery are also more in demand due to its intricate design and colours and 75% of jewellers
offer in the bazaar.
6. Navratan jewellery is catered by 71.42% of jewellers in the bazaar. This type of jewellery is
consumed by the consumer to bring good luck and good fortune.
7. Meenakari jewellery holds the sixth position in the portfolio of the jewellers offered to consumers.
67.85% of goldsmith offers this type of jewellery as it required more skilled and experienced
craftsmen to craft it.
8. Another highly demanded format of jewellery provided by jewellers is handmade jewellery due to
its distinctive design customizing the need and pocket of every customer. 64.28%of goldsmith in
the bazaar deal in this type of jewellery.
9. Kundan's work and Jadau jewellery hold the bazaar by making it available to cater to the consumer
need and preference by 53.57% of goldsmiths.
10. Filigree jewellery is less in demand by holding only 32.14% of jewellers. Maybe the other format
serves better.
11. Lastly, it is stated that only 28.27% of jewellers can hold various jewellery portfolio to cater to
everyone's needs under one roof.
FACTORS AFFECTING THE BUYING BEHAVIOUR

OF THE CONSUMERS.
The gold jewellery industry is consumer-oriented. Hence the demand and preferences of
gold jewellery purely depend upon consumers buying behaviour. If there is a change in consumers
like and preference towards gold jewellery will affect its demand curve. So understanding the
buying behaviour and catering accordingly is the main intension of bazaar jewellers. There are
varies factors shaping the buying behaviour of consumers. These varies factors includes personal,
cultural, economic, social and psychological factors affecting and stimulating the buying
behaviour. Therefore the given section is going to deal with the various factors affecting the buying
behaviour of consumers.
Analysis:
1. 86.31% of bazaar consumers agreed that western lifestyle and western design with studded
jewellery with lightweight low karat gold are mostly preferred by the bazaar consumers.
2. 82.48% of consumers buying behaviour is influenced by the change in lifestyle and preference.
Along with education level also act as a stimulative factor shaping buying behaviour by creating
awareness is agreed by 82.1% of consumers.
3. Impact of western lifestyle and education are the two main prime personal factors influencing
buying behaviour.
CULTURAL FACTORS
Gold is an integrated part of Indian cultural, religious and is demanded in all religious ceremony
as well as in rituals. So the demand for gold is always affected by its cultural importance and
religious presence. Hence the buying behaviour of gold jewellery is highly influenced by cultural
values and beliefs. Marriages and festival season has pulled the demand for gold jewellery in the
Indian market andshape the buying behaviour.Zaveri Bazaar. Similarly personal occasion like
valentine has increased the gold demand has been agreed by 82.53% of consumers.
ECONOMIC FACTORS
Economic factors have greatly influences the buying behaviour of consumers. An increase in
income has a positive impact on the buying behaviour of consumers. Looking at the obsession of
Indian consumers towards gold can easily state that if there is an increase in income will stimulate
the consumers to purchase gold as their first preferences. So let us understand the impact of
economic factors on consumers buying behaviour towards gold jewellery.
CONCLUSIONS AND SUGGESTIONS.
The present study deal with the various new trends occurring in the gold market to customized the
needs and wants of consumers. In the urban market of Zaveri Bazaar Mumbai. Buying gold in
India is not just a trading activity but it hold a strong emotional and cultural attachment. As the
gold exists in buying list of every Indians since from the ancient era irrespective of its financial
status. So the most interesting fact to understand and study is the new trends that are incorporated
in the gold market to cater for the needs of the consumers. Even on the part of consumers
perception towards gold jewellery buying has also changed a lot.
So the study is going to highlight the latest trends fused to cater for the ever- changing desire of
gold jewellery consumer in Zaveri Bazaar. It also highlights the various factors (as per the change
in time) influencing the consumers buying behaviour. Correspondingly it also address the various
problem faced by the jewellers and consumer in Zaveri Bazaar. The researcher had study the
selected organised and unorganized gold jewellery retailers present in the bazaar and well design
selective consumers visiting the bazaar.
TESTING OF HYPOTHESES
The given study is based on four hypotheses. The hypothesis is basically an assumption statement
or an idea that is proposed for the sake of testing and it can be accepted or rejected based on tests
conducted to achieve the objective of the study. The hypothesis is based on the research question
framed by the researcher to find the propose of the study. Here also the researcher framed the
hypotheses to be tested and analysed the result. So the first hypothesis framed and tested was
based on the Impact of new marketing trends in promotional strategy on sales of Zaveri Bazaar
jewellers. In the study, five indicative tests of the Likert scale with one sample T-test were carried
out to determine the impact of promotional strategy on thes sales performance of jewellers.
The second hypothesis formulated is the Impact of new marketing trends in promotional strategy on
consumer buying behaviour. It is also studied by five indicative tests of the Likert scale with one
sample T-test were carried out to determine the impact of promotional strategy on the consumer
buying behaviour. The third hypothesis framed and tested was the Impact of the organized retail
sector on the
unorganized sector of the jewellery industry. It is tested by using Z-test to understand the impact of
the organised sector on the unorganised sector and reveal the result of supporting or rejecting of
hypothesis. The fourth important hypothesis that was formulated and tested was the Impact of the
entry of corporate houses on the jewellery business. It is also tested by using Z-test to evaluate the
influence of corporate houses like Tata and reliance on jewellery business. Let us understand the
hypotheses in the proper explained manner given below.
1. Hypothesis 1
Impact of new marketing trends in promotional strategy on sales
Statement of Hypothesis:
H0 : New Marketing Trends in promotional strategy have no impact on sales
performance.
H1 = New Marketing Trends in promotional strategy have a positive impact on sales
performance.
Test Applied: T-test
Seller often adopts innovative promotional strategies to attract the customers and
increase the sale of the product. Hence, the researcher has attempted to study whether
the promotional strategies adopted by jewellers improve sales performance. In the
research study, five indicative tests were carried out to determine the impact of
promotional strategy on the sales performance of jewellers. Descriptive statistics of
these indicative variables are given in the following table:
Table:8.1
Impact of New Marketing Trends on Promotional Strategy on Sales
Performance
Strongly Strongly
Agree Neutral Disagree Total
Agree Disagree
Free gift can
48 180 10 20 22 280
increases sale
Organising contest
/ exhibition/ trade 12 160 30 38 40 280
show
Best exchange
offer for old gold 80 200 0 0 0 280
can attract
Strongly Strongly
Agree Disagree
customers
100% buy back
180 100 0 0 0 280
guarantee
Safe jewellery
purchase scheme
70 100 20 40 50 280
like monthly
instalment
Table: 8.2
One-Sample Statistics For Impact Of Promotional Strategy On Sales
N Mean Standard Std. Error
Deviation Mean
Free gift can increases sale 280 2.757143 2.446572 0.146211
Organising contest /
280 2.235714 2.038907 0.121848
exhibition/ trade show
Best exchange offer for old
280 3.285714 2.77746 0.165985
gold can attract customers
100% buy back guarantee 280 3.642857 3.139609 0.187628
Safe jewellery purchase
scheme like monthly 280 2.357143 2.299068 0.137396
instalment

The above table shows the mean scores and standard deviations score of each
indicative variable. The five-point Likert scale represents a rating ranged from 0
(strongly disagree) to 4 (strongly agree). The mean score of 100 per cent buyback
guarantee is between 3 and 4 which represents a rating between ‘agree’ to ‘strongly
agree’. Whereas for all other variables the scores are between 2 and 3 which represents
rating between ‘neutral’ and ‘agree’. This indicates that these variables have an impact
on sales performance.
One sample T-Test was carried out to identify the impact of new trends in
promotional strategy on sales. In the T-Test, the mean value of the Likert scale (0-4), 2
was used as the test value to compare the mean of the sampleTable: 8.3 T-Test Result
Test Value= 2
Degree of 95% confidence interval of
freedom difference
Lower Upper
Free gift can increases sale 279 2.471 3.044
Organising contest / exhibition/ trade
279 1.997 2.475
show
Best exchange offer for old gold can
279 2.96 3.611
attract customers
100% buyback guarantee 279 3.275 4.011
Safe jewellery purchase scheme like
279 2.088 2.626
monthly instalment
From the above table, it can be seen that the lower and upper confidence interval
differences are positive, which means they are more than 2 which is the test value. This
leads to accept the result that the new trends in promotional strategies have a positive
impact on sales and all the above-listed factors contribute to increase the sales.
Hence, the Null hypothesis New Trends in promotional strategy has no
impact on sales performance is rejected and the alternate hypothesis New Trends in
promotional strategy have a positive impact on sales performance is accepted
2. Hypothesis 2
Impact of new marketing trends in promotional strategy on Consumer Buying
Behaviour
H0: New Marketing Trends in promotional strategy have no impact on consumer
buying behaviour.
H1: New Marketing Trends in promotional strategy have a positive impact on
consumer buying behaviour.
Test Applied: T-test
In the research study, five indicative tests were carried out to determine the impact of
promotional strategy on consumer buying behaviour. Descriptive statistics of these
indicative variables are given in the following table:
Table: 8.4
Impact of New Marketing Trends on Promotional Strategy on Consumer Buying
Behaviour
Strongly Strongly
Agree Disagree
Free gift can
112 98 25 110 130 475
increases sale
exhibition/ trade 95 145 36 98 101 475
show
Best exchange offer
for old gold can 165 251 12 32 15 475
attract customers
100% buy back
189 202 13 41 30 475
guarantee
Safe jewellery
purchase scheme
198 225 20 22 10 475
like monthly
instalment
Table: 8.5
One sample statistics for impact of promotional strategy on sales
Standard Std. Error
N Mean
Deviation Mean
Free gift can increases sale 475 1.898947 2.042702 0.093726
475 2.073684 2.093599 0.096061
exhibition/ trade show
Best exchange offer for old
475 3.092632 2.718359 0.124727
gold can attract customers
100% buy back guarantee 475 3.008421 2.716809 0.124656
Standard Std. Error

N Mean
Deviation Mean
Safe jewellery purchase
scheme like monthly 475 3.218947 2.815745 0.129195
instalment
The above table shows the mean scores and standard deviations score of each indicative
variable. The five-point Likert scale represents a rating ranged from 0 (strongly disagree) to 4 (strongly
agree). The mean scores of best exchange offer for old gold, 100 per cent buyback guarantee and safe
jewellery purchase scheme like monthly instalment are between 3 and 4 which represents rating
between ‘agree’ to ‘strongly agree’. Whereas for organizing contests, exhibition and trade shows, the
scores are between 2 and 3 which represents a rating between ‘neutral’ and ‘agree’. Gifts have the least
mean score that ranges between 1 to 2, which represents a rating between ‘neutral’ and ‘disagree’. This
indicates that all other variables except free gifts have an impact on consumer buying behaviour.
One sample T-Test was carried out to identify the impact of new trends in promotional strategy
on sales. In the T-Test, the mean value of the Likert scale (0-4), 2 was used as the test value to
compare the mean of the sample.
Table: 8.6 T-Test
Result
Test Value= 2
Degree of 95% confidence interval of
freedom difference
Lower Upper
Free gift can increases sale 474 1.715 2.083
474 1.885 2.262
show
474 2.848 3.337
attract customers
100% buy back guarantee 474 2.764 3.253
474 2.966 3.472
monthly instalment
From the above table, it can be seen that the lower and upper confidence interval differences are
positive, which means they are more than 2 which is the test value. This leads to accept the result that
the new trends in promotional strategies have a positive impact on Consumer’s buying behaviour
and all the above-listed factors contribute to enhance the buying behaviour.
Hence, null hypothesis New Trends in promotional strategy have no impact on Consumer’s
Buying Behaviour is rejected, and alternate hypothesis New Trends in promotional strategy
have a positive impact on Consumer’s Buying Behaviour is accepted
3. Hypothesis 3
Impact of organized retail sector on the unorganized sector of the jewellery industry
H0: Organized retail sector has no impact on the unorganized retail sector of the jewellery industry
H1: Organized retail sector has an impact on the unorganized retail sector of the jewellery industry
Test Applied: Z-Test
In the research study, a question related to the impact of the organized retail sector on the
unorganized sector of the jewellery industry was included in the questionnaire of jewellers. The
responses to which were as follows:
Table: 8.7
Impact of organized retail sector on the unorganized sector of the
jewellery industry
Do you think there is no Impact of Frequency Percentage
the organized retail sector on the
unorganized sector of the jewellery
industry?
Yes 39 14
No 241 86
Total 280 100
P value (-9) = 1
Right tail, but we need left tail 1-
Pnorm (-9) = 0
P value is less than 0.50, hence, reject H0
Hence, the null hypothesis organized retail sector has no impact on the
unorganized retail sector of the jewellery industry is rejected andthe alternate
hypothesis that the organized retail sector has an impact on the unorganized retail
sector of the jewellery industry is accepted.
3. Hypothesis 4
Impact of entry of corporate houses on jewellery business
H0: There is no impact of corporate houses on the jewellery business H1:
There is an impact of corporate houses on the jewellery business
Test Applied: Z-Test

In the research study, a question related to the impact of corporate houses on the
Jewellery industry was included in the questionnaire of jewellers. The responses to
which were as follows:
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of-marketing-what-is-marketing/
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market in India”, Redffi.com. https://www.rediff.com/ money/special/special-Zevari-bazaar-a-
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Your Article Library. https://www.yourarticlelibrary. com/consumers/consumer-buying-
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WORLD GOLD COUNCI, (2017, 24 January), “India’s Gold Market: evolution and innovation”
examines the entire gold supply chain and the drivers for future growth” (Press release in
Mumbai) www.gold.org.
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out-of-kalbadevi-Zaveri-bazaar/story- IQPZKW9m8S8xLsJ7ycLhSN.html
https://economictimes.indiatimes.com/wealth/spend/hallmarking-of-gold- jewellery-mandatory-
from-today-heres-what-you-need-to-
know/articleshow/73267695.cms?utm_source=contentofinterest&utm_medium
QUESTIONNAIRE FOR Annexure A
JEWELLERS
A STUDY OF NEW TRENDS IN MARKETING OF URBAN JEWELLERY
AND ITS IMPACT ON CONSUMERS BUYING BEHAVIOUR WITH
SPECIAL REFERENCE TO ZEVARI BAZAAR IN MUMBAI.
Guide: Prateek Kumar Research Student: Tanish Soni

Note: Responses recorded by the jewellers in the questionnaire are
analysed for research and academic purpose.
Section A- Demography Information
1 Name of the Respondent
2 Name of the Store
3 Address Details of Store
4 AGE NO OF RESPONDENTS
18-30
31-40
41-50
50 & ABOVE
5 EDUCATION NO OF RESPONDENTS
SSC
HSC
Graduation
Post-Graduation
Other
Section B- Establishment of Jewellery Store
6 When was your showroom/shop established?
1 - 10 YEARS
11 - 20 YEARS
21 - 30 YEARS
31 - 40 YEARS
ABOVE 40
2 Generation
3 Generation
4 Generation
5 Generation
MORE THAN 5 Generation
7 Do you have any branches?
Yes
No
8 If yes please specify:- Kind of Branch
Local
Regional
National
9 Which types of jewellery you deal with?
Branded
Non Branded
Both
10 Do you sell hallmarking jewellery? NO OF RESPONDENTS
Yes
No
11 Since from when you started selling hallmarking jewellery?
Since from 2015
Since from 2010
From 2000
12 Do you create customers awareness program for hallmarking scheme?
Yes
No
Section C- Trend followed by jewellery market
13 What is your product profile?
Rings
Pendants
Earrings set
Nose pins
Necklaces
Bracelets
Bangles
Gold Coins
Bricks/biscuits/bar
All of the above
14 a). Which product is more in demand by the

consumer Rings
Pendants
Earrings set
Nose pins
Necklaces
Chains
Bracelets
Bangles
Gold Coins/
Gold
biscuits
15. What type of jewellery you have? NO OF
RESPONDENTS Bridal jewellery
Filigree jewellery
Plan gold
jewellery
Handmade
jewelleryJadau
jewellery Kundan
jewellery Lac
jewellery
Meenakari
jewellery All of
the above
16 What pricing strategy do you have? NO OF
RESPONDENTS Premium pricing
Penetrating
pricing Economy
Pricing
Psychological
Pricing Discount
Pricing Above all
Below are a number of statements regarding new trends incorporated in Zevari
Bazaar, Which affect the buying behaviour of consumers? Please read each
one and indicate to what extent you agree or disagree with each statement.
17. The following are the Strongly Agree Neutral disagree Strongly
new Product attribute agree disagree
which add growth to
jewellery market
Light weight daily wear
jewellery are more in
demand
Fashionable unique design
are more in trend
Gold jewellery with pear/
diamond studded are more in
demand than plain gold
jewellery
Low karat jewellery like 18
kt or 14 kt are also in demand
Hall marking jewellery are
more preferred by customers
18. The given are the new Pricing strategy for rising the growth in jewellery
market.
Low cost jewellery are more in trend than heavy
expensive
EMI facilities boost the sale of gold jewellery
Internet is making the price more transparent price
TOTAL
19. The specific Place attributes plays an active role in enhancing the demand in
jewellery market.
Store experience plays important role in excelling
the sale
Store external design like store entrance
Window display
Bright brand logo
Store internal design like Product display&
placement
Fixture/light/ spacing to relax
20. The given are the people attribute help to enhance the demand in jewellery
market.
Well train staff services
informative staff
polite and soft spoken staff are more effective
Empathetic and customise staff
21. The suggested Promotional strategies shows positive impact on ZevariBaazar

Free gift can increases sale
Organising contest / exhibition/ trade show
Best exchange offer for old gold can attract customers
100% buy back garuntee
Safe jewellery purchase scheme like monthly

instalment
22. Personalise/ customise jewellery are more in demand due to follow reason.
Can create their own design
Can wear the design that suite their style and taste.
Can get the jewellery with personal touch
Modern & Contemporary design
Large variety & style
23. Which traditional media do you prefer?

Print/ Magazines
Television
Movies
Newspaper
Radio
Holding
In transit advertisement
24. Which modern media do you prefer?

Websites
Advertisement on social media
Email
Story telling videos on websites
Click watch and pay advertisement on internet
25. Do you think there is Impact of organized retail sector on unorganized sector of
jewellery industry?"
Ye
s
No
26. Corporate Houses have not impacted jewellery business
Yes
No
27. Below given are the factors that affect the new trends in Zaveri bazaar and
buying behaviour of consumers. Please read each one and indicate to what extent
you agree or disagree with each statement.
Personal factors Strongly Agree Neutral disagree Strongly
agree disagree
Impact of Western Lifestyle
Education
Change in Life style
28. Cultural
Indian cultural and traditional values encourage to
hold gold jewellery
Marriage / Festival related jewellery are in demand
Personal occasion pull the drive demand for gold
29. Economic Factors

Increase in Disposal Income
Increase in Income
Increase in women population
Increase in young population
Increase in Middle Class
Increase in Working Population
30. Social Factor

Fashionable Wear by reference group
Brand orientation by reference group
Urbanisation
31. Psychological Factor Tangible Differentiation

Promotion
Store Location
Ease Of Buying
Product Range
Transparency
Certification
32. Psychological Factor Intangible Differentiation

Emotional Involvement
Buying Experience
Section D- Problems Faced by jewellers
33. Following are the problem faced Strongly Agree Neutral disagree Strongly
agree disagree
by jewelleries in Zevari Bazaar
Please read each one and indicate to
what extent you agree or disagree
with each statement.
Unorganized and Scatter features of
jewellery industry.
Over dependence on imports.
Change in taste and preferences of

consumers.
Use of latest technology and upgraded
designs.
Availability of skilled labours.
Working and payment condition of

jewellery craftsman’s
Rise in the price of gold.
Competition from chain and other
countries.
Lack of better credit facilities.
Lack of proper transportation and

supply chain facilities
Low level of research product
development
Govt rule like 3% GST on gold
purchase. and hallmarking
QUESTIONNAIRE FOR CONSUMERS
Annexure B
A STUDY OF NEW TRENDS IN MARKETING OF URBAN JEWELLERY
AND ITS IMPACT ON CONSUMERS BUYING BEHAVIOUR WITH
SPECIAL REFERENCE TO ZEVARI BAZAAR IN MUMBAI.
Guide: Prateek Kumar Research Student: Tanish Soni

Note: Responses recorded by the jewellers in the questionnaire are
analysed for research and academic purpose.
SECTION A – Profile of the Respondents
1. Gender
Male
Female
2. Age (in completed years)
18 – 30
31 – 40
40 – 50
51 and above
3. Education:
SSC
HSC
Graduate
Post
Graduate
Other
4. Occupation:
House wife
Working
Business
Other:
c. 1, 00,001 – 1, 50,000
d. Above 1, 50,000
Section B- Interest in Buying Jewellery
5. Do you wear jewellery?
YES
NO
6. How frequently do you purchase jewellery (on an average)?
a. Once a month
b. Once every six months
c. Once a year
d. Only on special occasions.
e. Other pleases specify,
7. When (i.e. on what occasions) do you wear jewellery?
a. Daily
b. Only on special occasions
c. Others specify
8. You mostly purchase jewellery as/ for?
a. As a gift
b. For personal use
c. For Investment
Above all
9. What jewellery items/ pieces do you generally purchase?
a. Ring
b. Earring
c. Nose ring
d.Mangalsutra
e. Chain
f. Bangles
g. Bracelet
h. Necklace
6. What is an average time spend while purchasing jewellery?
30 mins
45 mins
One hour
7. Which Karats of gold jewellery is most preferred by you?
23 karats
22 karats
18 karats
14 karats
8. Where do you prefer to buy jewellery?
a. Branded Store
b. Traditional family Jeweller
both
Online
9. What is the mode of payment used by you while purchasing jewellery?

Cash
Chequ
e Debit
Credit
Combination if any
10. How much do you spend on jewellery buying on an average in a year?
a. Up to 30,000
b. 30,001 – 1, 00,000
c. Above 1, 00,000
Section C- Impact of New Trend followed by jewellery market on buying

behaviours
11. Do you think Product attributes enhance your buying decision by helping you
to evaluate better option for your buying decision?
Strongly Agree Neutral disagree Strongly
agree disagree
Light weight daily wear jewellery
are more in demand
Fashionable unique design are
more in trend
Gold jewellery with pear/ diamond
studded are more in demand than
plain gold jewellery
Low karat jewellery like 18 kt or 14
kt are also in demand
Hall marking jewellery are more
preferred by customers
12. Do you think Price attributes enhance your buying decision by helping you to
evaluate better option for your buying decision?
Low cost jewellery are more in trend
than heavy expensive
EMI facilities boost the sale of gold
jewellery
Internet is making the price more
transparent price
13. Do you think Place attributes enhance your buying decision by helping you to
take per purchase decision?
Store experience plays important role
in excelling the sale
Store external design like store
entrance
Window display
Bright brand logo
Store internal design like Product
display& placement
Fixture/light/ spacing to relax
14. Do you think People attributes enhance your buying decision by helping you
to take per purchase decision?
informative staff
polite and soft spoken staff are
more effective
Empathetic and customise staff
15. Do you think Promotional strategies enhance your buying decision by

shaping your post purchase decision?
Free gift can increases sale
show
attract customers
100% buy back grantee
monthly instalment
16. Do you think Personalise (customise) attributes enhance your buying decision
by helping you to take per purchase decision?
Can create their own
design
Can wear the design that
suite their style and taste.
Can get the jewellery with
personal touch
Modern & Contemporary
design
Large variety & style
17. Do you think Publicity media (Traditional & Modern) enhance your buying
decision by helping you to search relevant information required for making
purchase decision?
Which traditional media do you prefer for receiving promotional message?
Print/ Magazines
Television
Movies
Newspaper
Radio
Holding
In transit advertisement
Which modern media do you prefer for receiving promotional message?
Websites
Advertisement on social media
Email
Story telling videos on websites
Click watch and pay advertisement on
internet
Below given are the factors that affect the buying behaviour of consumers. Please
read each one and indicate to what extent you agree or disagree with each
statement.
18. Do you think personal factors helps to evaluate the better alternative before
making buying decision?

agree disagree
Impact of Western
Lifestyle
Education
Change in Life style
19. Do you think the Cultural factors generates needs for buying gold jewellery?
Indian cultural and traditional values

encourage to hold gold jewellery
Marriage / Festival related jewellery
are in demand
Personal occasion pull the drive
demand for gold
20. Do you think the Economic Factors help to take per purchase decision
Increase in Disposal Income
Increase in Income
Increase in women population
Increase in young population
Increase in Middle Class
Increase in Working Population
21. Do you think the Social Factors help you to search relevant information for
shaping your buying decision?
Fashionable Wearby reference group
Brand orientation by reference group
Urbanisation
22. Psychological Factors Tangible Differentiation
Promotion
Store Location
Ease Of Buying
Product Range
Transparency
Certification
Psychological Factors Intangible Differentiation

Emotional Involvement
Buying Experience
Section D- Problem Faced by the Consumers

23. Following are the problem faced by consumers in Zevari Bazaar Please read
each one and indicate to what extent you agree or disagree with each statement.
agree disagree
Checking the purity of gold
or Karats
No uniform making charge
in the market
Fluctuating gold prices
Lack of standard policy for
buyback old gold
Lack of uniform price for
buying old gold
Same making charges for
manmade and machine
made jewellery
Same rate for plain gold
jewellery and studded gold
jewellery
Different in the price of
gold jewellery and studded
gold jewellery at the time
of sell.
Most of the transactions are
completed without proper
bills.
************************************************************************************
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A STUDY ON NEW TRENDS IN MARKETING OF

Bachelor Of Banking And Insurance

Academic Year 2023-2024

Submitted by me for Semester V during the academic year

Wherever reference has been made to previous works of

I Further state that this work is original and not

Certified by: Professor Prateek Kumar

Learner: Tanish Soni

2. OBJECTIVES OF THE STUDY

3. JUSTIFICATION OF THE OBJECTIVE

5. SCOPE AND LIMITATION OF THE STUDY

9. SECONDARY DATA REVIEW ON PROMOTIONAL RELATED MARKETING

10. CURRENT TRENDS IN MARKETING OF URBAN JEWELLERY

11. RESEARCH FRAMEWORK

12. PROFILE OF ZAVERI BAZAAR

13. LEGACY OF ZAVERI BAZAAR

14. REVIEW OF LITERATURE

15. MARKETING STRATEGIES

16. REVIEW ON PRODUCT ASSOCIATED MARKETING STRATEGIES

17. ZAVERI BAZAAR JEWELLERY PROFILE

18. MARKETING TRENDS AND STRATEGIES OF THE URBAN JEWELLERY MARKET

19. MARKETING TRENDS

20. FACTORS AFFECTING THE BUYING BEHAVIOUR OF THE CONSUMERS.

21. CONCLUSIONS AND SUGGESTIONS.

22. TESTING OF HYPOTHESES

1. To study the Jewellery market in Mumbai.

JUSTIFICATION OF THE OBJECTIVE

SCOPE AND LIMITATION OF THE STUDY

CURRENT TRENDS IN MARKETING OF URBAN

Influencer Marketing And Collaboration.

Social Media Advertising and Engagement.

Platforms like Instagram and Facebook are being used to showcase

Diagram: 1.1 Research Framework

REVIEW ON PRODUCT ASSOCIATED MARKETING

REVIEW ON PROMOTIONAL RELATED MARKETING

3. Shamily Jaggi., And Dr Sanjay Kumar Bahl., (2017)., 13

ZAVERI BAZAAR JEWELLERY PROFILE

SEGMENTATION OF JEWELLERY AT NATIONAL LEVEL

Source: Metals Focus; World Gold Council page no 21

FOCUS ON MARKETING PLAN

Source: Expert interview; McKinsey analysis (2020 estimated)

Diagram: 7.11 Jewellery Profile of Bazaar

Plan gold jewellery 240

0 50 100 150 200 250 300

FACTORS AFFECTING THE BUYING BEHAVIOUR

CONCLUSIONS AND SUGGESTIONS.

Source Primary data Questionnaire

Standard Std. Error

Test Applied: Z-Test

A.Joseph Xavier and G.Kamalam., (2016), “A Study on Perception of Consumers towards

The Brooking Institution

“A Complete Guide to Navratna Jewellery”, (2015, January 31), Indianbijiou.

“Method of Manufacturing Jewellery”, .n.d, Kama schachter.

Shila R, “What is distribution Channel?” Economic Discussion. https://

Guide: Prateek Kumar Research Student: Tanish Soni

14 a). Which product is more in demand by the

21. The suggested Promotional strategies shows positive impact on ZevariBaazar

Organising contest / exhibition/ trade show

Best exchange offer for old gold can attract customers

100% buy back garuntee

Safe jewellery purchase scheme like monthly

23. Which traditional media do you prefer?

24. Which modern media do you prefer?

29. Economic Factors