BUSINESS RESEARCH

ASSIGNMENT-1
Buying behaviour of gold with regards to Tanishq

SHIV MOHAN SINGH 20/132 1ST YEAR P.G.D.M. C

Submitted To: PROF. RAJESH SINHA

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DECLARATION

This project report entitled study of customers perception has been submitted to Apeejay school of management, new delhi, in partial fulfilment of Business Research assignment. Here by I, undersign that this project report has been completed by me under the guidance of Professor Rajesh sinha (Faculty: business Research Apeejay school of management, new delhi) Study of this Project Report is entirely result of my own efforts and research is original in nature. This Project Report is not submitted either in part or whole to any other institute for any other degree.

Place: Dwarka, New Delhi Date: 14th march 2013

Shiv mohan singh 20/132

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ACKNOWLEDGEMENT

I would like to express my gratitude to: (i) Professor Rajesh sinha, for giving me a chance to learn things in a practical and innovative way, and gain some experience for the same. I would also like to thank his for all his support and to encourage us and motivate us to learn new things and in different ways. Mr Ajay Bhadwar (manager TANISHQ, CP, New Delhi) for his co-operation, and information sharing. Mr Gaurav (RBM, TANISHQ north region).

(ii) (iii)

I m greatly thankful to all the advisors who helped me knowingly and for giving information and interest in report.

Thanking You,

Shiv mohan singh 20/132

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Content index
Executive Summary Introduction
i) i) ii) iii) iv) v) Tanishq profile Purpose Of The Research Problem Of The Research Objective Of The Research Limitations Of The Research Significance Of The Research Sampling Frame Sampling Unit Sample Size Sample Size Selection Research Tools
a) Exploratory Research Questionnaire Survey b) Descriptive Research

About The Research

Sample
i) ii) iii) iv) i)

Research Methodology

Detailed Findings Conclusion Recommendation & Conclusion

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EXECUTIVE SUMMARY
INTRODUCTION
TANISHQ PROFILE Evolution of Tanishq
Titan came into existence in July 1984, when the Tata Group joined hands with the Tamil Nadu Industrial Development Corporation (TIDCO) to make a foray into the watch industry. Titan started manufacturing jewellery watches and jewellery in 1994. It set up its fully integrated Rs. 400 million-jewellery plant in Hosur. The plant had the capacity to manufacture four tonnes of gold in a year. Titan launched these products under the brand name of Tanishq, in 1995. The name Tanishq, a blend of two words, 'tan' (body) and 'ishq' (love), was coined by Xerxes Desai, the Vice-Chairman and Managing Director of Titan. To change its image from a watch manufacturer to a fashion accessories manufacturer, Titan was renamed Titan Industries Ltd. in 1995. Titan scaled the capacity of its Hosur plant to 4.18 million units in 1996 to meet the domestic and international demand. From the late 1990s, Titan's commitment to the jewellery business increased. When Titan launched Tanishq in 1995, the jewellery industry in India valued at Rs 40,000 crore was mostly unorganized, with around 3.5 lakh players. Before 1992, only the Metal and Mineral Trading Corporation and the State Bank of India were allowed to import gold. In 1992, as part of economic liberalization, the government abolished the Gold Control Act of 1962, allowing free import of gold. In 1993, private companies were allowed to enter the hitherto restricted gold and diamond mining industry. Foreign investors were allowed to hold up to 50% equity in mining ventures.

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Growth of Tanishq

25000

20000

15000

10000

5000

0 2000 2001 2002 2003 2004 2005 2006 2007 2008

Revenue in million Rupees

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SWOT ANALYSIS STRENGTH OPPORTUNITIES Purity (karat meter) Global markets Distribution network and retailing store Low cost jewellery Award winning designs Customized jewellery designs Diversity in jewellery Concentrate on Gen-X by having gold/diamond/platinum trendy jewellery Competitive prices Expand retail stores

WEAKNESS Capture Rs 70,000-crore Escalated gold costs lower margins No gold hall marking on their product.

THREATS Competition Increasing gold cost. Gold not seen as s source investment. (Luxury is needed).

of

STRENGTH Purity of jewellery through karat meter is still the sign of total purity. Distribution network and retailing store are in place for the company with 130 stores countrywide. Mind boggling/award winning designs have come for the company. Diversity in jewellery gold/diamond/platinum enhances the product range of the company. They also have competitive prices for the entire product ranges as compared to the competitors.

WEAKNESSES Capture Rs 70,000-crore Indian jewellery market. Tanishq comprises a small share of the overall Rs 70,000-crore Indian jewellery market and hence it needs to increase its market share in this huge industry. Escalated gold costs has caused lower margins is to push sales as much as possible. OPPORTUNITIES Global markets like USA needs to be looked at. Low cost and easy to wear jewellery should be further promoted. Customized jewellery designs should provided to the customers. Concentrate on Gen-X by having trendy jewellery. Expand retail stores in India to further increase reach.

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THREATS Competition from local jewellers all over India. Lack of Skilled workers in jewellery industry. Gold is no longer seen as source of investment. People are more concerned about design and luxury.

Major Products of Tanishq In GOLD

Zoya
High value product with high value workmanship and diamonds Secrets of the Egyptian pharaohs masked with the mystery of the comos; Oriental art embellished with occidental architecture

Fashion Earrings

The Fashion earring collection; has a ranged of over 300 exclusive designs

Wedding Collection
The bride blushes

Taj collection
Awesome workmanship of kundan with polka stones.

Mia collection

Working women collection

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ABOUT THE RESEARCH

THE PURPOSE OF THE RESEARCH
The basic purpose of this research is to find the buying behaviour of people of New Delhi toward gold and gold jewellery.

PROBLEM
Why customer hav to pay little higher price for the gold in tanishq

OBJECTIVES
The objectives of the study are as follows:
1) The objective of study was to find the actual reason why middle class people are not going to Tanishq 2) To find what they like & dislike about Tanishq. 3) On the basis of in depth interview i got 6 criteria in which i could measure the attitude of people towards Tanishq.

Limitations

The survey was conducted within the limited time frame; so few shortcomings may be expected. The respondents personal bias may be another factor, which is uncontrollable. The finding of the survey is strictly based on the responses of the respondents. It is difficult to find the euthenics be true, so i am assuming them to be true. It was very difficult to explain the respondents about how to fill the questionnaire & it took time for data collection.

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Hypothesis
a) b) c) d) e) f) Price does not affect the buying of gold. Quality of gold does not affect the buying of gold Service does not affect the buying of gold Pattern does not affect buying of gold Location of store does not affect buying behavior of gold. Ambiance of store effect buying behavior of gold.

VIEW ABOUT THE TOPIC

SAMPLE
Sampling Frame:
A Sampling frame consists of a list of item from which the sample is to be drawn. The sample frame for this research constitutes all the customers who have visited Tanishq store for purchasing gold.

Sampling Unit:
A decision has to be taken concerning a sampling unit before selecting sample sampling unit may be a geographical one, a construction unit, a social unit or it may be an individual. The sample unit for this research constitutes the organization that is Tanishq only dealer in new delhi.

Sample Size:
The sample size of my research was 150 but only 121 people have visited tanishq store.

Sample Size Selection: sample size was selected on the basis of the 3 factors.

a) b)

It was difficult to locate the customer who have visited to tanishq. The respondents were not much educated so it was difficult to make them understand about the questionnaire.
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c)

People were not easily available outside Tanishq.

RESEARCH METHODOLOGY
Research Tools:
The research tool used for this research is PRIMARY DATA In primary data the following research design is being followed: i) Exploratory Research: Questionnaire Survey (Sample Size 150) ii) Descriptive Research: On the basis of the questionnaire survey, the analysis is done in order to find out the reason why people are not visiting Tanishq

Research Design
I have used 2 types of research design they are a) Exploratory research b) Descriptive research Exploratory research because I m not knowing the actual problem faced by tanishq. So for that i did an In-depth interview of 3 people to find what are the major findings & difficulties are faced by them. I did Interview of a) Mr Vidya Sagar who is the RBM of tanishq of north and central region. In the interview i asked him diifrent question regarding the sales & their way of operation & different aspects about Tanishq. From the answers given by Mr Vidya sagar, I found that major reason why people are not turning out towards Tanishq is because of Price a bit higher & pattern availability in Tanishq. He also told me the major reason why people are coming to Tanishq is the quality

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of gold & services provided by them. He also said that people who love the ambiance of store may affect the buying decision. Then I interviewed Mr Suresh Mehta the owner of a franchise store of Laxminagar, New Delhi it own & I asked him the same questions what I asked Mr. Vidya Sagar I found that a) Major people who buy gold from there are their regular customers from long time b) The people have trust on the purity of gold c) He also said that people are having bad experience of going to Tanishq as the price of gold is more than what they are paying to normal retailers. d) He also said that middle class people of New Delhi are more price conscious & not quality conscious. Then I interviewed Mr Ajay Bhadwar the manager of a company store of cannought place, New Delhi. I asked him the same questions what I asked Mr. Vidya Sagar. Actually with him I wanted to know the on the floor experience of his own with customers. He told me that people who purchase from us they always love to purchase with us just because not the quality but also we provide the best shopping experience, service, greeting, service and well informed executives. From the detailed interview of these 2 people I thought that major reasons which can affect the purchase decision of people buying gold are 1) 2) 3) 4) 5) 6) Price Quality Service Availability of pattern Proximity to market Ambiance of store

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DETAILED FINDINGS
Over All Sample size

Sample Size

19%

Visited Not visited

81%

The sample was 150 but out of which 29 people didnt went to Tanishq for buying of gold. So my sample size came to 121. Segmentation According to Gender

male, 56 female, 65

male female

Out of 121 there were 65 female that constitute 54% of total sample & rest are male they are 56 which contributes 46% of total sample. Business Research Shiv 20/132 Page 13

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Annual income of Respondents

5000-10000 10000-20000 20000-30000 30000 & Above

The respondents average income lies from 5000 to 30000 & above so respondents were a) b) c) d) 5000 10000 = 6 10000 20000 = 11 20000 30000 = 18 30000 & above = 86

People who said they visit Tanishq & again goes for repurchase

Yes, 28

No, 93

The above charts gives me the detail of people who visits Tanishq for repurchase.

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Hypothesis Testing
X2 = (o-e)2/ e
1) Price does not affect the buying of gold.
Price Particular 1 2 3 4 5 Total 1 2 3 4 5 Total 30 66 18 4 3

3 8 1 0 0
12

12 15 0 0 0
27

11 31 6 1 0
49

4 12 7 1 1
25

0 0 4 2 2
8

121

Observed 3 12 11 4 0 8 15 31 12 0 1 0 6 7 4 0 0 1 1 2 0 0 0 1 2

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

o-e 0.03 5.31 -1.14 -2.19 -1.98 1.46 0.28 4.8 -1.63 -4.36 -0.78 -4.01 -1.28 3.29 2.81 -0.39 -0.89 -0.61 0.18 1.74 -0.29 -0.66 -1.21 0.39 1.81

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

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

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Total

59.8194

The hypothesis of these question is that the price does not effect the buying behavior of consumer that is Ho. So from the calculation i got the value of H0 as 59.8149 So when compared to tabulated value of the number that is (r-1)*(c-1) gives me the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho>H1 so hypothesis is rejected.

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

Quality Particular 1 2 3 4 5 Total 1 3 1 2 6 0 12 2 2 4 10 9 2 27 3 2 5 20 18 4 49 4 0 2 11 8 4 25 5 0 0 3 5 0 8 total 7 12 46 46 10 121

Observed 3 2 2 0 0 1 4 5 2 0 2 10

Expected 0.69 1.56 2.83 1.44 0.46 1.19 2.67 4.85 2.47 0.79 4.56 10.26

o-e 2.31 0.44 -0.83 -1.44 -0.46 -0.19 1.33 0.15 -0.47 -0.79 -2.56 -0.26

2(o-e) 5.3361 0.1936 0.6889 2.0736 0.2116 0.0361 1.7689 0.0225 0.2209 0.6241 6.5536 0.0676

2(o-e)/e 7.733478 0.124103 0.243428 1.44 0.46 0.030336 0.662509 0.004639 0.089433 0.79 1.437193 0.006589

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20 11 3 6 9 18 8 5 0 2 4 4 0 Total 18.62 9.5 3.04 4.56 10.26 18.62 9.5 3.04 0.99 2.23 4.04 2.06 0.66 1.38 1.5 -0.04 1.44 -1.26 -0.62 -1.5 1.96 -0.99 -0.23 -0.04 1.94 -0.66 1.9044 2.25 0.0016 2.0736 1.5876 0.3844 2.25 3.8416 0.9801 0.0529 0.0016 3.7636 0.4356 0.102277 0.236842 0.000526 0.454737 0.154737 0.020644 0.236842 1.263684 0.99 0.023722 0.000396 1.82699 0.66 18.99311

The hypothesis of these question is that the Quality does not affect the buying behavior of consumer that is Ho. So from the calculation i got the value of H0 as 18.99311 So when compared to tabulated value of the number that is (r-1)*(c-1) gives me the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho<H1 so hypothesis is accepted. So Quality does matter in buying gold.

3) Service does not affect buying behavior of consumer.

Particular 1 2 3 4 5 Total 1 2 3 4 5 total 1 1 21 70 28 121

0 1 1 6 4
12

0 0 6 15 6
27

1 0 5 33 10
49

0 0 8 10 7
25

0 0 1 6 1
8

Service Observed 0 Expected 0.09 o-e -0.09 2(o-e) 0.0081 2(o-e)/e 0.09

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0 1 0 0 1 0 0 0 0 1 6 5 8 1 6 15 33 10 6 4 6 10 7 1 0.22 0.4 0.2 0.06 0.09 0.22 0.4 0.2 0.06 2.08 4.68 8.5 4.33 1.3 6.94 15.62 18.35 14.46 4.63 2.78 6.25 11.34 5.79 1.85 -0.22 0.6 -0.2 -0.06 0.91 -0.22 -0.4 -0.2 -0.06 -1.08 1.32 -3.5 3.67 -0.3 -0.94 -0.62 14.65 -4.46 1.37 1.22 -0.25 -1.34 1.21 -0.85 0.0484 0.36 0.04 0.0036 0.8281 0.0484 0.16 0.04 0.0036 1.1664 1.7424 12.25 13.4689 0.09 0.8836 0.3844 214.6225 19.8916 1.8769 1.4884 0.0625 1.7956 1.4641 0.7225 0.22 0.9 0.2 0.06 9.201111 0.22 0.4 0.2 0.06 0.560769 0.372308 1.441176 3.1106 0.069231 0.12732 0.024609 11.69605 1.375629 0.405378 0.535396 0.01 0.158342 0.252867 0.390541 32.08133

The hypothesis of these question is that the service does not effect the buying behavior of consumer that is Ho. So from the calculation i got the value of H0 as 32.0813 So when compared to tabulated value of the number that is (r-1)*(c-1) gives me the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho>H1 so hypothesis is rejected. So service does matter in buying gold.

4 ) Pattern does not effect effect buying behavior of consumers.

Particular 1 2 3 1 2 3 4 5 total 6 39 39

0 5 3

2 7 11

4 16 16

0 8 7

0 3 2

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4 5 Total

3 1
13

6 1
27

4 9
49

6 4
25

1 1
7

20 17 121

PATTERN Observed 0 2 4 0 0 5 7 16 8 3 3 11 16 7 2 3 6 4 6 1 2 1 9 4 1 Expected 0.65 1.34 0.45 1.25 0.35 4.19 8.7 2.9 8.06 2.26 4.19 8.7 2.9 8.06 2.26 2.15 4.46 1.49 4.13 1.16 1.83 3.79 1.26 3.51 0.98 o-e -0.65 0.66 3.55 -1.25 -0.35 0.81 -1.7 13.1 -0.06 0.74 -1.19 2.3 13.1 -1.06 -0.26 0.85 1.54 2.51 1.87 -0.16 0.17 -2.79 7.74 0.49 0.02 2(o-e) 0.4225 0.4356 12.6025 1.5625 0.1225 0.6561 2.89 171.61 0.0036 0.5476 1.4161 5.29 171.61 1.1236 0.0676 0.7225 2.3716 6.3001 3.4969 0.0256 0.0289 7.7841 59.9076 0.2401 0.0004 2(o-e)/e 0.65 0.325075 28.00556 1.25 0.35 0.156587 0.332184 59.17586 0.000447 0.242301 0.337971 0.608046 59.17586 0.139404 0.029912 0.336047 0.531749 4.228255 0.846707 0.022069 0.015792 2.053852 47.54571 0.068405 0.000408 206.4282

4) Pattern does not effect buying behavior of gold. The hypothesis of these question is that the pattern does not effect the buying behavior of consumer that is Ho. So from the calculation i got the value of H0 206.4282 So when compared to tabulated value of the number that is (r-1)*(c-1) gives me the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3

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So Ho>H1 so hypothesis is rejected. So it has been analyzed that Tanishq has good variety of pattern.

5) Proximity does not affect buying of gold.

Particular 1 2 3 4 5 Total 1 2 2 4 3 1 12 2 0 2 6 7 12 27 3 6 3 18 14 8 49 4 2 0 8 9 6 25 5 0 1 4 1 2 8 Total 10 8 40 34 29 121

Proximity Observed 2 0 6 2 0 2 2 3 0 1 4 6 18 8 4 3 7 14 9 1 1 12 8 6 2 Total expected 0.99 2.23 3.88 2.07 0.67 0.79 0.79 3.11 1.65 0.53 3.97 8.93 15.54 8.27 2.64 3.37 7.59 13.21 7.02 2.25 2.88 6.47 11.26 5.99 1.92 o-e 1.01 -2.23 2.12 -0.07 -0.67 1.21 1.21 -0.11 -1.65 0.47 0.03 -2.93 2.46 -0.27 1.36 -0.37 -0.59 0.79 1.98 -1.25 -1.88 5.53 -3.26 0.01 0.08 2(o-e) 1.0201 4.9729 4.4944 0.0049 0.4489 1.4641 1.4641 0.0121 2.7225 0.2209 0.0009 8.5849 6.0516 0.0729 1.8496 0.1369 0.3481 0.6241 3.9204 1.5625 3.5344 30.5809 10.6276 1E-04 0.0064 2(o-e)/e 1.030404 2.23 1.158351 0.002367 0.67 1.853291 1.853291 0.003891 1.65 0.416792 0.000227 0.961355 0.389421 0.008815 0.700606 0.040623 0.045863 0.047245 0.558462 0.694444 1.227222 4.726569 0.943837 1.67E-05 0.003333 21.21642

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The hypothesis of these question is that the proximity does not effect the buying behavior of consumer that is Ho. So from the calculation i got the value of H0 as 21.21 So when compared to tabulated value of the number that is (r-1)*(c-1) gives me the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho<H1 so hypothesis is accepted.

6) Ambiance does not affect buying behavior of gold.

Particular 1 2 3 4 5 Total 1 2 3 4 5 Total 7 10 30 38 36 121

1 0 5 3 4
13

1 2 6 9 9
27

0 6 11 17 14
48

4 2 6 8 5
25

1 0 2 11 4
8

Observed 1 1 0 4 1 0 2 6 2 0 5 6 11 6 2 3 9 17 8 1 4 9 14 5

Expected 0.75 1.56 2.78 1.45 0.46 1.07 2.23 3.97 2.07 0.66 3.22 6.69 11.9 6.2 1.98 4.08 8.48 15.07 7.85 2.51 3.87 8.03 14.28 7.44

o-e 0.25 -0.56 -2.78 2.55 0.54 -1.07 -0.23 2.03 -0.07 -0.66 1.78 -0.69 -0.9 -0.2 0.02 -1.08 0.52 1.93 0.15 -1.51 0.13 0.97 -0.28 -2.44

2(o-e) 0.0625 0.3136 7.7284 6.5025 0.2916 1.1449 0.0529 4.1209 0.0049 0.4356 3.1684 0.4761 0.81 0.04 0.0004 1.1664 0.2704 3.7249 0.0225 2.2801 0.0169 0.9409 0.0784 5.9536

2(o-e)/e 0.083333 0.201026 2.78 4.484483 0.633913 1.07 0.023722 1.03801 0.002367 0.66 0.983975 0.071166 0.068067 0.006452 0.000202 0.285882 0.031887 0.247173 0.002866 0.908406 0.004367 0.117173 0.00549 0.800215

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4 Total 2.38 1.62 2.6244 1.102689 15.61287

The hypothesis of these question is that the proximity does not effect the buying behavior of consumer that is Ho. So from the calculation i got the value of H0 as 15.61 So when compared to tabulated value of the number that is (r-1)*(c-1) gives me the tabulated value so for my question (5-1)*(5-1) = 16 is the degree of freedom. The value for the 16 is 26.3 So Ho<H1 so hypothesis is accepted.

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Business Research Questionnaire

APEEJAY SCHOOL OF MANAGEMENT Dear Sir/Madam I am the students of 1st Year PGDM Course of Apeejay School of Management. As a part of my research study I am conducting a survey regarding the perception of people regarding the purchase of gold from different organized & Unorganized Retailers. Guidelines for filling the form:1) Please check the box wherever required. 2) Only 1 check per question.

Q 1 ) Name:_______________________________________________________

Q 2) Gender -

male

female

Q 3) Age :- _________________

Q 4) Occupation: - Service

Business

Others

Others:-__________________________

Q 5) Monthly average INCOME? 5000-10000 above 10000-20000 20000-30000 30000 &

Q 6) how often you visit jewellery store? Once a month On Occasion once a year

Q 7) You Buy jewellery from Place delhi Store Name ___________________

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UP Gurgaon Rajasthan Uttarakhand ___________________ ___________________ ___________________ ___________________

Q 8) do you buy jewellery from same store every time ? Yes No

If Yes/No Why?___________________________________________________________

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

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

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

e) Proximity to market f) Ambiance of Store

Q 10) Are You aware about Tanishq showroom opened in New Delhi? Yes No

Q 11) How did you come to know about Tanishq? TV Pamphlets News Paper Friends/relatives Hoardings Others

Q 12) Have you visited Tanishq Store? Yes No

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Q 13) Rate Tanishq on flowing Criteria Given below Particular a) Price b) Purity & Quality of Gold c) Service Offered d) Patterns Available e) Location of Store f) Ambiance of store V.Good Good Average Bad V.bad

Q 14) During Re-Purchase you often go to Tanishq? Yes No

Q 15) Would you recommend others for Buying Tanishq Products? Yes No

Q 16) Rate tanishq on over all basis? Particular Tanishq As a Store V.Good Good Average Bad V.bad

Thank You

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FINDINGS
On the basis of chi-square test the relation between the variables are significant & few are not significant. Variables which were significant in the research & which affects the buying behavior of gold are a) Because of price people are not visiting Tanishq. b) People are happy with the quality of Tanishq & they go to Tanishq only because the purity & quality of gold. c) The people also visit Tanishq because they provide better services then the other retailers. d) The pattern are also major factor because of which people does not prefer Tanishq. e) The people say that the location of store is not affecting them to visit Tanishq. f) People are not affected by the ambiance of store From these i can conclude that people are more sencisitve towards price, Quality & availability of pattern. If they find these 3 things ok & they fill that this is what they wanted they will buy from there only. For people of New Delhi ambiance, proximity to market & service are less important.

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RECOMMENDATION & CONCLUSION

Conclusion
People are more price conscious & they feel that the price in Tanishq are more than what the normal retailers have. They also feel that the quality they get is much higher than the quality what the normal retailers give. They also found that the patterns available are lesser than what they get in the normal retail store. They also are service oriented so they are more attracted because of service they get. People are not affected with the ambiance of the shop.

Recommendation
I would recommend Tanishq following things a) The making charge is affecting their sales so they should cut down their prices. b) The patterns are comparative less so they should provide more number of patterns c) they should increase their market share by bringing more innovation on their going on schemes & loyalty programs criteria should reduce, occasional gifts to their high value customers. d) People are more service conscious so they can target young business man & young professional as they are now more in investing money in gold. Such as Mia collections. e) Creating more knowledge to the people about diamond and gold purity.

THANK YOU
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