Tanishq-Study of Consumer Behavior
In India there are very few women who are not attracted towards jewellery. Gold jewellery in India has a very special place in a women’s heart. People in India see jewellery as a symbol of status, tradition and love. Since ancient times, gold has been considered as a safer mode of future investment. This wealth and symbol of affection has been passes from generation to generation. Jewellery market in India is the largest in the world in terms of consumption. The present gold jewellery market in India stands at around $17 billion approximately.
In this report we have tried to analyze consumer behavior and decision making process while buying jewellery and tried to relate it with our product, Tanishq.
A survey with a sample size of 20 was conducted to get an insight into consumer’s buying behaviour and preferences. Most of the participants in our survey were working professionals (primary target for Tanishq) while others were house wives. Our survey had all respondents from cities and mostly belongs to an income group of more than 3 lacs that was again bifurcated for further analysis. The age of our respondents varies from 23 to more than 50. We have tried to cover both married and unmarried respondents. All the respondents were graduate and city dwellers (as they are the primary target for Tanishq). Our survey also includes males who have gifted jewellery to women relatives.
BUYING ROLES
1. Initiator – All the survey respondents assumed the role of initiator while buying jewellery but in some cases the respondents were gifted jewellery by someone (64% of the respondents said that atleast once in their life time they did get the jewellery as a gift). In the survey, half of these women received the jewellery as gift more than once in a year and the other half once a year. Most of the women received the jewellery as gift from their husbands while few got it from their children, parents and other relatives.
2. Influencer – In 22% of the survey respondents the
In this report we have tried to analyze consumer behavior and decision making process while buying jewellery and tried to relate it with our product, Tanishq.
A survey with a sample size of 20 was conducted to get an insight into consumer’s buying behaviour and preferences. Most of the participants in our survey were working professionals (primary target for Tanishq) while others were house wives. Our survey had all respondents from cities and mostly belongs to an income group of more than 3 lacs that was again bifurcated for further analysis. The age of our respondents varies from 23 to more than 50. We have tried to cover both married and unmarried respondents. All the respondents were graduate and city dwellers (as they are the primary target for Tanishq). Our survey also includes males who have gifted jewellery to women relatives.
BUYING ROLES
1. Initiator – All the survey respondents assumed the role of initiator while buying jewellery but in some cases the respondents were gifted jewellery by someone (64% of the respondents said that atleast once in their life time they did get the jewellery as a gift). In the survey, half of these women received the jewellery as gift more than once in a year and the other half once a year. Most of the women received the jewellery as gift from their husbands while few got it from their children, parents and other relatives.
2. Influencer – In 22% of the survey respondents the