Omkar Salunke Ty Bba-ib Final Project.docx

A PROJECT REPORT ON “TO STUDY CONSUMER SATISFACTION OF PNG JEWELLERY IN WARJE, PUNE” SUBMITTED TO SAVITRIBAI PHULE PUNE UNIVERSITY IN PARTIAL FULFILMENT OF THE COURSE BACHELOR OF BUSINESS ADMINISTRATION (INTERNATIONAL BUSINESS) BY OMKAR ANIL SALUNKE B.B.A-IB SEMESTER-VI ROLL NO – 5156 UNDER THE GUIDANCE OF THE PROJECT GUIDE PROF.DR. SHRISHTI GANGALY MARATHAWADA MITRA MANDAL’S COLLEGE OF COMMERCE PUNE 411004 YEAR 2018-2019

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CERTIFICATE

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DECLARATION I hereby declare that the work presented in this project entitled: “TO STUDY CONSUMER SATISFACTION OF PNG JEWELLERY IN WARJE, PUNE” Was carried out by me under the supervision of PROF.DR.SHRISHTI GANGALY from December 2018 to April 2019. This work or any part part of this work is based on original research and has not been submitted by me to any University/Institution for the award of any diploma or degree.

Date: Place:

OMKAR ANIL SALUNKE

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ACKNOWLEDGEMENT I would like to express my sincere thanks to the Savitribai Phule Pune University and Marathwada Mitra Mandal’s college of Commerce for giving me the opportunity to prepare and present this report. “There is a good saying that the work is successfully completed if the person is guided properly at the right time by the right person”, with that the good opportunities that we receive as well as the efficient supervision and the most valuable the internal guidance. Hereby I would like to express my deep gratitude to our ‘Prof.Dr.SHRISHTI GANGALY’, who in her busy schedule provided us with full support and encouragement, her whole hearted co-operation throughout the progress and the completion of the project and would also like to thank my friends for their encouragement and direct or indirect support in completion of the project. Last but not the least I would like to thank our principle for the exposure and support provided during the project.

OMKAR ANIL SALUNKE T.Y.B.B.A (IB)

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INDEX CHAPTER NO CHAPTER 1 1.1 1.2 1.3 1.4 1.5

TOPIC

PAGE NO

INTRODUCTION OVERVIEW OF THE STUDY OBJECTIVE OF THE STUDY SIGNIFICANCE OF THE STUDY SCOPE OF THE STUDY LIMITATION OF THE STUDY

6-10 7-8 8 9 9 10

CHAPTER 2 2.1 2.2

COMPANY PROFILE COMPANY OVERVIEW PRODUCT DETAIL

11-25 12-14 15-25

CHAPTER 3 3.1 3.2

REVIEW OF LITERATURE CONCEPT AND TERM REVIEW OF BOOKS

26-32 27 28-32

CHAPTER 4 4.1 4.2 4.3 4.4 4.5 4.6 CHAPTER 5

RESEARCH METHODOLOGY CONCEPT OF RESEARCH TYPES OF RESEARCH METHOD OF DATA COLLECTION PROCESS OF RESEARCH RESEARCH GAP RESEARCH LIMITATION DATA ANALYSIS AND INTERPRETATION

33-36 33 33-34 34-35 36 36 36 37-47

CHAPTER 6

FINDINGS, SUGGESTION AND CONCLUSION

48-50

BIBLOGRAPHY

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ANNEXURE

52-56

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CHAPTER1 INTRODUCTION

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TITLE: TO STUDY CONSUMER SATISFACTION OF PNG JEWELLERY IN WARJE, PUNE

1.1OVERVIEW OF THE TOPIC Society is a diversified in all aspects. We see this among consumers, marketers, producers and even among CUSTOMER SATISFACTION from theoretical aspects. The study of customer satisfaction enables marketer to predict a customer satisfaction in the market; it also produces understanding of the role that consumption has in the lives of individuals. Customer satisfaction is defined as a behaviour that consumers display while searching for purchase, using, evaluation and disposal of products, services and ideas that they to satisfy their needs. The study of CUSTOMER SATISFACTION is concerned not only with what consumers buy, but also with what they buy it, when, from where and how they buy it and how often they buy it. It is concerned with learning the specific meanings that products hold for customer. Consumer research takes place at every phase of the consumption process; before the purchase, during the purchase and after purchases. Customer satisfaction is the study of how people buy, what they buy, when they buy and why they buy. It attempts to understand the buyer decision processes/buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics, psychographics, and behavioural variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. What we buy, how we buy, where and when we buy, in how much quantity we buy depends on our perception, self-concept, social and cultural background and our age and

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family cycle, our attitudes, beliefs, values motivation, personality, social class and many other factors that are both internal and external to us. Customer satisfaction is interdisciplinary; i.e. it is based on concepts and theories about people that have been developed by scientist in such diverse disciplines as psychology, sociology, social psychology, cultural anthropology and economics. Consumer research is the methodology used to study consumer Satisfaction. The study of customer satisfaction is the study of how individuals make decision to spend their available resources on consumption elated items. It includes the study of what, why, when and form where they buy etc. There are number of reasons why the study of customer satisfaction developed as a separate marketing discipline. As sum as the marketing researchers began to study the buying behaviour of customers, they realized that, despite a something “me too” approach to fashions, many consumer rebelled at using the identical products everyone else used. The primary purpose or studying as part of a marketing curriculum is to understand why and how consumers make their purchase decisions. These insights enable marketer to design more effective marketing strategies. Customer satisfaction has become an integral part of strategic market planning. The belief that ethics and responsibility should also be integral components of every marketing concept, which calls on marketer to fulfil the needs of their target market in ways that improve society as a whole. In addition to studying consumer uses and purchase and post purchase evaluations of the product they buy, consumers researchers are also interested in how individuals dispose the other one’s new purchase. 1.1 OBJECTIVE OF THE TOPIC 1. To analyze the behaviour of customers of PNG. 2. To know the motivating factors of consumers in purchasing products of PNG. 3. To know how brand preference is formed in purchasing Gold’s ornaments among consumers. 4. To analyze marketing strategies of PNG. 5. To ascertain the level of brand loyalty and brand image associated by consumer with a brand name ‘PNG’ and the reason for this. 6. To measure the level of customers satisfaction.

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1.2 SIGNIFICANCE OF THE STUDY The PNG has launched its gold ornaments outlet named PNG with entire package of offers and with unique collections of designs. So after 14 years of business and service, it is important to know how the customers’ satisfaction is against its competition

and how

effective has been the product positioning. After the purchase of specialty goods or shopping goods, the customer exhibits a post purchase behavior. It may be either cognitive consonance or cognitive dissonance. The consonance leads to dissatisfaction. But when it comes to customers going in high value premium segment goods such as gold, diamond and platinum ornaments, in a high competitive with too many players in the market, then the customer surely has a wide range of choice to choose from and carefully evaluates the different showrooms before making a purchase decision. In such a situation, any of purchase dissonance will lead to very high degree of dissatisfaction, which may also lead to spreading negative option to the prospective buyer of Jewellers outlet. 1.3 SCOPE OF THE STUDY This study of understanding the satisfaction of the customers on jewellery brand, namely PNG, apart from helping to acquire a better insight and understanding into the vital, but trivial aspects of the jewellery market, it also helps in assessing the companies strength and weakness against the competing jewellery brands.Thus helping in finding the loop holes in the company’s products on in finding logical solutions to the problems. This study helps in finding out:

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1. How the customers rate the various attributes in PNG as against other competitors. 2. How effective has been the company in positioning PNG as a reputed jewellery showroom. 3. How effective has the company’s marketing strategy of low making charge, with

offering a whole lot of unique features provided in the market.

1.4 LIMITATION OF THE STUDY 1. The project is related to only dhayri branch of PNG 2. The question are on the objectives related to consumer statisfaction in PNG warje pune. 3. The sample is just of 50 customers of png 4. As there was time limitation the data was collected to 50 customers only.

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CHAPTER 2 COMPANY OVERVIEW

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2.1 COMPANY OVERVIEW PNG is India's largest, most desirable and fastest growing jewellery brand in India. Started in 1832. Almost two centuries old P. N. Gadgil Jewellers Pvt Ltd has delighted generations of satisfied customers with superior quality jewellery. With its persistent effort to ensure each customer satisfaction P. N. Gadgil Jewellers Pvt Ltd have build credibility and personified heritage and tradition. The brilliant success saga in the history of jewellery in India began in the year 1832, at Sangli, when Ganesh Narayan Gadgil incepted “Purushottam Narayan Gadgil& Co”. On 9th February 1958, ShriDajikakaGadgil who was a visionary himself took the brand to newer heights with his creative instincts and keen business acumen. The brand saw rapid expansion under his vision and was present across Maharashtra including Pune, Aurangabad, Ahemednagar, Alkuj, Latur, Nanded, Nagpur, Chandrapur, Thane, Vile Parle, Panvel and Kalyan and also available In Goa & Indore, as well as created international presence with a branch in USA & UAE. Following the footsteps of his ancestors, SaurabhVidyaharGadgil has taken over the Gadgil Empire as the Managing Director of the company with an aspiration of taking it to greater heights with his professional knowledge, skills and his inherited business skills. He has successfully entered and explored fresh business horizons for P. N. Gadgil Jewellers Pvt Ltd by foraying in the field of Financial Services, Hospitality, Education, Digital VFX Studio, Real Estate and Diamond Jewellery Manufacturing They were also the first jewellers of Pune who got all their diamond jewellery certified by International Gemological. they have now also launched

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the e-shopping facility which is one of its kinds among Indian based Traditional Jewellers. Being a consumer centric brand, Being a brand which respects tradition as well as being socially responsible, P. N. Gadgil Jewellers Pvt Ltd contributes in bringing positive change in employment trends, employing almost 40% women in their showrooms. P. N. Gadgil Jewellers Pvt Ltd under the leadership of ShriSaurabhGadgil&ParagGadgil has aggressive expansion plans with presence in more cities across India.

HISTORY PNG opened its first store at Sangli. It is India’s only fine jewellery brand with a national presence and is an acknowledged business leader in the country. PNG jewellery is sold exclusively through three types of stores namely (a) Company controlled retail stores (b) Management owned (c) Franchisees owned and its still expending. PNG is currently operating a retail network of 117 exclusive boutiques across 78 cities of India. It has recently launched a new line of concept stores under the “Revitaliser of Tradition” theme. The first-of-its-kind stores under the new theme located at Kolkata, Delhi, Bangalore and Pune, attempt to combine the grandeur of the past with the reality of the present without losing the inherent character and appeal of the brand.Apart from opening a store in the U S last year, PNG recently opened its largest retail store in Chennai (spread over three-floors, 20,000 sqft). PNG jewellery is crafted in one of the world’s most modern factories. The factory complies with all labour and environmental standards located at Hosur. Tamil Nadu, the

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135000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Every product at PNG is painstakingly crafted to perfection. Diligent care and quality processes ensure that the PNG finish is unmatched by any other jeweler in the country. PNG has opened its outlets throughout South India and Gulf countries. In total it has 117 outlets. Some of them are listed as below: 1. Madhya Pradesh: Indore (3 outlets), Bhopal, Gwalior, Jabalpur, 2. Chhattisgarh: Raipur, up-coming outlets in Bhilai & Bilaspur. 3. UAE: Dubai.

MANAGEMENT AND STAFF Management is concerned with the accomplishment of objectives by utilizing physical and financial resources through the efforts of manpower. Staff refers to the human resources within an organization. The Raipur unit is led by a very good team headed by Mrs. Soma Sharma who is the Showroom Manager. Altogether it has 17 employees. Persons with their destinations are listed below:

1. Showroom Manager 2. Floor Manager 3. Cashier

: Mr MAHESH VISPUTE : Ms. NITIN PAWAR : Mr. KUNAL SINGH THAKUR

SPECIAL FEATURES OF PNG At PNG its not just the products, it’s the experience that matters. We make sure that we give you the premium quality of not only product but service as well. PNG not only has an exquisite range of designs to meet all your requirements we also offer the benefit of any modification or customization on products. There are host of value added services that you can avail of at PNG like the Golden Harvest Savings Scheme, Gift Voucher purchase, Exchange of gold and diamonds etc.

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2.2 PRODUCT DETAILS DETAILS OF PNG COLLECTIONS The exclusive collections of PNG include: THE DIAMOND COLLECTION No gemstone expresses human emotions more powerfully than a diamond After all, a diamond is timeless and finding your perfect piece of diamond jewellery is an exhilarating and unique experience. Cut and crafted with utmost care the diamond collection renders each piece eternal.

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THE WEDDING COLLECTION The bride blushes; Everyone around smiles; The shenai announces festivity; The priests chant auspicious promises; She walks demurely; A vision of beauty; Her jewels are exquisite; Crafted by the best in the land; As pure as the blessings bestowed on her.

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THE ZOYA COLLECTION Intricacy coupled with the simplicity; The magnificence of history interwoven with linear contemporary; Secrets of the pharaohs masked with the mystery of the cosmos; oriental art embellished with occidental architecture; nature's bounty matched with man's ingenuity.

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THE FASHION EARRING COLLECTION The Fashion earring collection', has a range of over 300 exclusive designs. Keeping in tune with the raging popularity that earrings currently enjoy, the PNG design team has created the Fashion earring collection, inspired by the evergreen Jhumkas or Karnaphools and the trendy Chandelier and delicate Stiletto designs

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THE KUNDAN AND POLKI COLLECTION Influenced by the mughal era Kundan work requires special craftsmanship and a myriad of stages, each crafted by a different set of highly skilled karigars.

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PNG as a revitaliser of tradition brings to life techniques and motifs of the period through our exquisite collections of Kundan and Polki (uncut diamonds). It is difficult for jewellers to ensure the purity and correct grammage of the product since it involves so many stages. However, PNG ensures the karatage and net wt of the product.

THE COLOURS OF ROYALTY COLLECTION

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Colors of Royalty a range of exquisite studded jewellery, reminiscent of the magical Victorian era. The collection is inspired by the classic design essence and sensibilities found in the architecture, fashion, design, drapes and patterns of the Victorian period. PNG has incorporated the timelessness of these styles into exquisite jewellery designs to present a collection where fashion and tradition converge. This line of precious stones and diamond jewellery in 18k from PNG comprises more than 200 pieces and is by far the largest studded collection launched by us. This exclusive collection was launched at the Ponds Femina Miss India 2006, where the 25 finalists wore it. The Colors of Royalty is a line of exclusive gems and stone studded jewellery that reflects the grandeur of India's rich past represented through the varied meanings associated with colors in our lives

THE MOHAM COLLECTION

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The collection comprises designs, motifs inspired by nature that have been beautifully crafted to make them the most desirable possession this season Moham is a range of exclusive ruby studded jewellery that embodies the auspiciousness the color red has in our lives. Rubies have been associated with prosperity, passion and have been the most coveted gemstone for many years. It is a must have for a Indian women. This range attempts to strike a balance between convention and fashion by creating designs suitable for the progressive Indian woman, rooted in her tradition. This line of Ruby studded jewellery from PNG is available in both 18k and 22k. This launch reiterates PNG's focus on catering to region specific tastes and preferences. India offers great potential for the Moham collection where Ruby studded jewellery enjoys great popularity and acceptance. Consumer survey indicates that women attach great inspirational value to rubies, second only to diamonds.

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THE ARIA COLLECTION Aria is a collection of variety of everyday jewellery which depict various moods and feelings:

Mysteries of love Mysteries of passion Mysteries of envy Bewitching Fascinating Enchanting Hypnotizing Sensuous Captivating

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EXQUISITE CROWNS AND JEWELLERY PNG, India's most innovative jewellery brand, unveiled the awe-inspiring set of crowns and its 'Colors of Royalty' range of jewellery, specially crafted for India's leading beauty pageant, Femina Miss India 2007.

PNG has built itself a reputation of bringing innovative designs that suit the needs of "the ever-changing never-changing" Indian woman.The crowns have been designed to convey the essence of India through the use of distinctive motifs such as the traditional and auspicious 'teeka' - the Indian touch to the contemporary styling. Crafted with painstaking detail, each of these crowns convey a story; a story of their "ORIGIN". Inspired by interplanetary movements and colors of flora and fauna, these tiaras are a stunning combination of trillions, baguettes, round brilliant cuts, princess, pears and specially cut colored crystals. Each crown weighs about 450 gms and has a special spring mechanism designed to fit perfectly on any size or shape of head. The inspiration behind each crown is distinct and personifies the spirit of the title. Miss Universe: This crown has the perfect cosmic blend of elements, very like the universe itself. The large red stone, set slightly on the side, is the symbolic and stylised 'teeka'. Miss Universe: This crown has the perfect cosmic blend of elements, very like the universe itself. The large red stone, set slightly on the side, is the symbolic and stylised 'teeka'. Miss World: The natural essence of this piece is enhanced by the wave-like undulating shape on the base of the crown, sitting snugly on the forehead of the wearer. And of course the vivid

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rectangular blue stone that expresses the teeka of victory, and sets off the varying hues of the sea on the rest of the crown. Miss Earth: This crown derives its inspiration from the essence of nature- her flora and fauna. Based on the fabulous colours and movement of the peacock and its feathers, this stunning piece is an intriguing study in harmony and contrast. The jewellery crafted beautifully with interspersion of diamonds and colored stones, is an ode to the ecstatic beauty and supreme power behind every woman. The contemporary styling has been brought to life with sensuous curves, balance, rhythm and symmetry of classic Indian motifs in an unconventional synthesis. These beautiful and vibrant gemstones in different shapes, sizes and colors are sprinkled amongst diamonds to create a symphony that enhances the look of the stones and adds a dash of color to conventional designs. PNG has translated the timelessness of these designs to a modern context and brought to life a collection where fashion, design and tradition blend perfectly.

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CHAPTER 3 REVIEW OF LITERATURE

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3.1 INTRODUCTION All of us are consumers. We consume things of daily use; we also consume and buy these products according to our needs, preferences and buying power. These can be consumable goods, durable goods, specialty goods or industrial goods. What we buy, how we buy, where and when we buy, in how much quantity we buy depends on our perception, self concept, social and cultural background and our age and family cycle, our attitudes, beliefs, values motivation, personality, social class and many other factors that are both internal and external to us.

3.2 CUSTOMER SATISFACTION1 The degree to which customer expectations of a product or service are met or exceeded. Corporate and individual customers may have widely differing reasons for purchasing a product or service and therefore any measurement of satisfaction will need to be able to take into account such differences. The quality of after-sales service can also be a crucial factor in influencing any purchasing decision. More and more companies are striving, not just for customer satisfaction, but for customer delight, that extra bit of added value that may lead to increased customer loyalty. Any extra added value, however, will need to be carefully costed. The degree to which there is match between the customer's expectations of the product and the actual performance of the product. Expectations are formed based on information consumers receive from salespersons, friends, family, opinion leaders, etc., as well as past experience with the product. This is an important measure of the ability of a firm to successfully meet the needs of its customer 1 COSUMER BEHAVIOUR- MATIN KHAN

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Retailers are faced with many issues as they attempt to be successful. The key issues include: Customer Satisfaction – Retailers know that satisfied customers are loyal customers. Consequently, retailers must develop strategies intended to build relationships that result in customers returning to make more purchases. Ability to Acquire the Right Products – A customer will only be satisfied if they can purchase the right products to satisfy their needs. Since a large percentage of retailers do not manufacture their own products, they must seek suppliers who will supply products demanded by customers. Thus, an important objective for retailers is to identify the products customers will demand and negotiate with suppliers to obtain these products. Product Presentation – Once obtained products must be presented or merchandised to customers in a way that generates interest. Retail merchandising often requires hiring creative people who understand and can relate to the market. Traffic Building – Like any marketer, retailers must use promotional methods to build customer interest. For retailers a key measure of interest is the number of people visiting a retail location or website. Building “traffic” is accomplished with a variety of promotional techniques such as advertising, including local newspapers or Internet, and specialized promotional activities, such as coupons. Layout– For store-based retailers a store’s physical layout is an important component in creating a retail experience that will attract customers. The physical layout is more than just deciding in what part of the store to locate products. For many retailers designing the right shopping atmosphere (e.g., objects, light, sound) can add to the appeal of a store. Layout is also important in the online world where site navigation and usability may be deciding factors in whether of a retail website is successful. Location – Where to physically locate a retail store may help or hinder store traffic. Well placed stores with high visibility and easy access, while possibly commanding higher land usage fees, may hold significantly more value than lower cost sites that yield less traffic. Understanding the trade-off between costs and benefits of locations is an important retail decision. Keeping Pace With Technology – Technology has invaded all areas of retailing including customer knowledge (e.g., customer relationship management software), product movement

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(e.g., use of RFID tags for tracking), point-of-purchase (e.g., scanners, kiosks, self-serve checkout), web technologies (e.g., online shopping carts, purchase recommendations) and many more.

Customer satisfaction is the study of how people buy, what they buy, when they buy and why they buy. It blends elements from psychology, sociology, sociopsychology, anthropology and economics. It attempts to understand the buyer decision processes/buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics, psychographics, and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. Belch and Belch define customer satisfaction as 'the process and activities people engage in when searching for, selecting, purchasing, using, evaluating, and disposing of products and services so as to satisfy their needs and desires'.

3.3 BUYER – AN ENIGMA Although it is important for the firm to understand the buyer and accordingly evolve it marketing strategy, the buyer or consumer continues to be an enigma – sometimes responding the way the marketer wants and on other occasions just refusing to buy the product from the same marketer. For this reason, ht buyers’ mind has been termed as a black box, the marketer provides stimuli but he is uncertain of the buyer’s response. This stimulus is a combination of product, brand name, colour, style, packaging, intangible services, merchandizing, shelf display, advertising, distribution, publicity and so forth. Further today’s customer is being greatly influenced by the media especially electronic. Technological developments in the field of information, biotechnology and genetics, and intensive competitions in all products and services are also impacting consumer choices.

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3.4 FACTORS INFLUENCIG CUSTOMER SATISFACTION The factors that influence customer satisfaction can be classified into internal factors and external environmental factors. External factors do not affect the decision process directly, but percolate or filter through the individual determinants, to influence the decision process. The individual determinants that affect customer satisfaction are:     

Motivation and involvement Attitudes Personality and self concept Learning and memory Information processing

The external influences or factors are:       

Cultural influences Sub-cultural influences Social class influences Social group influences Family influences Personal influences Other influences

3.5 MODELS OF CUSTOMER SATISFACTION We have already seen that there are many factors which influence the decision making of consumers. There are various consumer models which help in the under standing of customer satisfaction. They are formulated by different economist and management scientist based on various ideas. They are:         

Economic Model Psychological Model Input process output Model Sociological Model HawrathSheth Model Sociological Model Engel-Blackwell-Kollath Model Model of family decision making Nicosia Model

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3.6 TOOLS TO STUDY CUSTOMER SATISFACTION It is important to marketer to regularly study buyer behavior. The different tools available to him or her are: 3.6.1 Surveys This is the most common technique used in studying customer satisfaction. It involves the use of questionnaires. Different scaling techniques like Likert and Thurstone are used to measure consumer attitudes. The problem with survey methodology is that it gives to marketer only conscious response of the customer. 3.6.2 Projective Techniques To throw the customer off his or her conscious level and to get know sub-conscious-level responses, projective techniques like word association, picture association and thematic appreciation tests have been used. This provides valuable information on his or her product or brand and about the customer’s lifestyle and self concept. 3.6.3 Focus Group Discussions This is another qualitative technique used to assess how customers perceive the product and use situations. It also provides the marketer with valuable information on the target market. 3.7 OUTLET SELECTION AND PURCHASE As the number of product and brands are increasing in the market, so are the retail outlets and it becomes very confusing for the customers to choose the retail stores. The selecting of a retail store also involves almost the same process as selecting a brand. A retail outlet relates to a service or a product which caters to the consumer. The retail trade occurs from the stores but, it also occurs from catalogues, direct mail via print media, television and radio. Retailing is also done in weekly markets which are put up in different areas of a city on different days. It is also done from consumer, by means of various media. It has become very challenging and exciting, both for consumers and marketers. The consumer may give first preference to the store or the product or, he may give equal importance to both. Sometimes

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one prefers a store first, where he can get friendly and logical advice to buy the product or brand of second priority, if he is assured of proper service and proper guidance, rather than buying a product of his choice on first priority and missing out on other important aspects of purchase. 3.8 PURCHASE BEHAVIOR We have seen that in many products, decision-making is a very lengthy process, and takes a very long time. The problem is recognized and a lot of information is gathered. After this is done, the last two stages of decision-making, that is, the purchase and post purchase come into play. Purchase is very important as it generates revenue, and post purchase gives us an idea of the likes and dislikes of the consumer. Post purchase behavior also establishes s link between the marketer and the target market segment. Purchase is important to the marketer as the product was planned, produced, priced, promoted and distributed after a lot of effort. If purchase does not take place, the marketer has failed in his marketing effort. He then needs to change the marketing mix. He has to change entire strategy, as the ultimate aim of the marketer is to float a product which will generate revenue and bring satisfaction to the customers. Purchase is important for his success, for achieving his objectives and for formulating competitive strategies against the competitors. It marks the end of his search, end of his efforts and chooses the brand of his choice for expected benefits. 3.9 POST PURCHASE BEHAVIOR It is important for the marketer to know whether his product is liked by the consumer or not. He wants the feedback about his product so that corrective action, if necessary, can be taken, and the marketing mix be modified accordingly. Post purchase behavior is the reaction of the consumers; it gives an idea of his likes and dislikes, preferences and attitudes and satisfaction towards the product. It indicates whether or not the purchase motives have been achieved. Purchase is the means and post purchase is the end. Post purchase behavior indicates whether or not repeat purchase will be made. Whether the customer will recommend the product to others or not. It indicates whether long term profits can or cannot be expected. All this can be found out by the post purchase behavior or the customers. Post purchase is the last phase in the decision-making process.

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CHAPTER 4 RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY2 4.1 Introduction As it is indicated in the title, this chapter includes the research methodology of the dissertation. In more details, in this part the author outlines the research strategy, the research method, the research approach, the methods of data collection, the selection of the sample, the research process, the type of data analysis, the ethical considerations and the research limitations of the project.

4.2 Types of Research : Based on the nature of study and its implications research is classified into different types. Many researchers classify research into various categories based on various angles of comprehension 

Applied Research:

It is carried out to find solutions to a real life problem that needs immediate action or policy decision. It is problem-oriented and action-directed which seeks immediate and practical results.For example, any market research activity. 

Qualitative Research :

It refers to a study based on qualitative data in order to get insights into problems and their solutions. These involves direct observation of behaviour or

going

through

transcripts or undertaking unstructured interviews and subsequently analysing them.For example, interviewing ten CEOs for their crisis management systems and then analysing the contents of the same. 

Quantitative Research:

It refers to a study based on quantitative data in order to get an insight into problems and their solutions. This research study measures variables using numeric scales and helps in precise measurement of data, for knowing 2 Book- Research Methodology by C.R.KOTHARI

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trends for comparison study. 

Experimental Research:

A research is conducted by comparing controlled experimental groups and controlling one or more variable. While the consequence of one variable is observed the others are assumed constant. Some of these are before and after studies and with or without control groups, Completely Randomised Design(CRD), Randomised Block Design (RBD), Latin Square Design (LSD), and factorial designs,etc. 

Survey Method:

This is one of the most frequently used methods of gathering information i applied social research. This process, through interviews, telephone or mail survey with a view to analyse a given social dilemma and thereafter present the solutions in the form of recommendations,

involves

a

systematic

and comprehensive

study

of

particular

community, organisation, group, etc.It is considered to be one of the most costeffective technique. It encompasses measurement procedures that involve asking questions to respondents. Surveys like questionnaire or statistical surveys are used to gather data about people, their thoughts and behavior. 1. Type of sample

: Simple random

2. Sampling

: For this study the respondents were customer of PNG only were selected.

3. Research instruments : Structured closed ended questionnaire. 4. Method

: The respondents were contacted personally and interviewed.

4.3 Data collection method and tools For the purposes of this research, in depth interviews were used. In depth interviews are personal and unstructured interviews, whose aim is to identify participant’s emotions, feelings, and opinions regarding a particular research subject. The main advantage of personal interviews is that they involve personal and direct contact between interviewers and interviewees, as well as eliminate non-response rates, but interviewers need to have

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developed the necessary skills to successfully carry an interview (Fisher, 2005, Wilson, 2003). What is more, unstructured interviews offer flexibility in terms of the flow of the interview, thereby leaving room for the generation of conclusions that were not initially meant to be derived regarding a research subject. However, there is the risk that the interview may deviate from the pre-specified research aims and objectives (Gill & Johnson, 2002). As far as data collection tools were concerned, the conduction of the research involved the use of semi-structured questionnaire, which was used as an interview guide for the researcher. Some certain questions were prepared, so as for the researcher to guide the interview towards the satisfaction of research objectives, but additional questions were made encountered during the interviews

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4.4 Research process The questionnaire is the main instrument for collecting data in survey research. Basically, it is a set of standardized questions, often called items, which follow a fixed scheme in order to collect individual data about one or more specific topics. Sometimes questionnaires are confused with interviews.

4.5 Data analysis Analysis of data is a process of inspecting, cleaning, transforming, and modelling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business, science, and social science domains.

4.6Research Limitations Consumers are not interested to give their opinion about the ornaments There are many people don’t know different between various quality. In this study we felt that some consumers are not able to recollect their past experience regarding various purchases. With respect to actual population the sample size is too small. This might be effect the final result.

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CHAPTER 5 DATA ANALYSIS AND INTERPRETATION

38

Table No. 1 Showing the no. of customers in Gender classes.

Category Male Female Total

No. of Respondents 9 41 50

Percentage 18% 82% 100%

Chart No. 1 Gender wise classification of the respondents

Male; 9; 18.00%

Male Female

Female; 41; 82.00%

Out of the 50 respondents surveyed:

9 were male.



41 were female.

Showing the marital status of the customers

39

Status Unmarried Married Total

No. of Respondents 6 44 50

Percentage 12% 88% 100%

Marital status of the respondents.

Unmarried; 6; 12.00% Unmarried Married

Married; 44; 88.00%

Out of the 50 respondents surveyed:

6 respondents are unmarried.



44 respondents are married.

Showing the no. of respondents belonging to different age groups. Age Below 18

No. of Respondents 03

Percentage 6% 40

18-28 29-38 Above 38 Total

14 24 09 50

28% 48% 18% 100%

Different age group of the respondents

29-38; 48%

18-28; 28% Above 38; 18%

Below 18; 6%

Out of the 50 respondents surveyed:

Respondents were in the group below 18 yrs.



14 respondents were in the group 18-28 yrs.



24 respondents were in the group 29-38yrs.



9 respondents were in the group above 38 yrs.

Showing the no. of customers overall shopping experience at PNG. Customer Say “WOW” “GOOD” “COULD BE BETTER”

No of Respondent 45 04 01

Percentage 90% 08% 02% 41

TOTAL

50

100%

Overall shopping experience of customer at PNG

"; 1; 2.00%

".; 4; 8.00%

". " ". ". ; 45; 90.00%

Out of the 50 respondents surveyed:

45 respondents say “WOW”.



4 respondents say “GOOD”.



1 respondent say “COULD BE BETTER”.

CUSTOMER EXPERIENCE AT THE STORE Customer Say “WOW” “GOOD” “COULD BE BETTER”

No of Respondent 41 07 02

Percentage 82% 14% 04% 42

TOTAL

50

100%

CUSTOMER EXPERIENCE AT THE STORE.

"; 2; 4.60% ".; 7; 14.20%

". ; 41; 81.20%

"

".

".

Out of the 50 respondents surveyed:

41 respondents say “WOW”.



7 respondents say “GOOD”.



respondent say “COULD BE BETTER”.

SHOWING THE OVERALL SCORE OFAMBIENCE AT THE STORE Customer Say “WOW” “GOOD” “COULD BE BETTER” TOTAL

No of Respondent 46 03 01 50

Percentage 92% 06% 02% 100%

THE OVERALL SCORE OFAMBIENCE AT THE STORE 43

92%

Percentage

“WOW”;

Percentage

6%

“GOOD”;

“COULD BE BETTER”; 2%

Out of the 50 respondents surveyed:

46 respondents say “WOW”.



respondents say “GOOD”.



1 respondent say “COULD BE BETTER”.

SHOWING NO. OF CUSTOMERS SATISFIED WITH QUALITY OF JEWELLERY / DESIGN AND RANGE IN PNG. Customer Say “WOW” “GOOD” “COULD BE BETTER” TOTAL

No of Respondent 45 04 01 50

Percentage 90% 08% 02% 100%

QUALITY OF JEWELLERY / DESIGN AND RANGE 44

Chart Title ".; 0% ; 0% Percentage ".; 0% "; 2% ".; 8% ; 90%

Out of the 50 respondents surveyed:

45 respondents say “WOW”.



4 respondents say “GOOD”.



1 respondent say “COULD BE BETTER”.

SHOWING NO. OF CUSTOMERS WHO SAY VISIT THIS SHOWROOM AGAIN Customer Reply “YES’ “NO” TOTAL

No of Respondent 48 2 50

Percentage 96% 04% 100%

CUSTOMERS WHO SAY VISIT THIS SHOWROOM AGAIN

45

No; 2; 4.00%

Yes No

Yes; 48; 96.00%

Out of the 50 respondents surveyed:48 respondents say “YES”. 4 respondents say “NO”.

SHOWING NO. OF CUSTOMERS WHO SAY RECOMMEND OUR STORE TO OTHERS Customer Reply “YES’ “NO” TOTAL

No of Respondent 47 3 50

Percentage 94% 06% 100%

CUSTOMERS WHO SAY RECOMMEND OUR STORE TO OTHERS

46

No; 3; 6.00%

Yes No

Yes; 47; 94.00%

Out of the 50 respondents surveyed:

47 respondents say “YES”.



Respondents say “NO”.

Showing the no. of customers bought which occasion. OCCASION WEDDING DAILY WEAR BIRTHDAY/ANNIVERSARY FESTIVAL OTHER SPECIAL OCCASIONS TOTAL

No of Respondent 05 15 08 16 06 50

Percentage 10% 30% 16% 32% 12% 100%

47

Customers bought which occasion

Other Special occasions; 6; 12.00%

Wedding; 5; 10.00% Wedding Daily wear

Festival; 16; 32.00%

Daily wear; 15; 30.00%

Birthday/Anni versary Festival

Birthday/Anniversar y; 8; 16.00%

Other Special occasions

Out of the 50 respondents surveyed:

05 respondents say “WEDDING”.



15 respondents say “DAILY WEAR”.



08 respondents say “BIRTHDAY/ANNIVERSARY”.



16 respondents say “FESTIVAL”.



06 respondents say “OTHER SPECIAL OCCASIONS”

FINDINGS 

Most of the respondents are females.



Customers of PNG are mainly from upper class and upper middle class families.



Most of the purchasers of PNG are mainly educated.



Purity factor – Karatage as promised. 48



Transparency through a complete scientific method of Gold

purity detection –

KARATMETER. 

Exchange policies – same buying & selling rates.



Free servicing without any Gold loss.



Diamonds with proper certification of authenticity.



Buy back on Colour & Semi-precious stones.



Complete transparency in billing.



PNG has got large no. of gold & diamond ornaments customers.



Only a few customers are not aware of Jewellery other then gold coins available in PNG.



The making charges of PNG are satisfactory according to the respondents.



Through advertisement large no. of customers came to know about PNG.



Factors like company image, quality, advertisement, collections & ethical practice have equally influenced the purchase.



Major no. of respondents is satisfied with the showroom facility.



Designs of ornaments are rated as unique.



Respondents got immediate and exact response for the complaints registered & queries.



Salespersons responsiveness is rated as somewhat good and average.



PNG provides good service facility.



The overall performance of PNG is good.



Level of satisfaction of customers is good.



Respondents are ready to insist their well wishers to purchase from PNG.



The customer satisfaction of PNG is good.

SUGGESTIONS 

PNG customers are business people and have high income, so it should be better to frame promotion programs targeting the lower class people. 49



With regard to advertising, the company should focus on persuasive advertising highlighting the unique feature and benefits of their products.



Only a few customers had purchased platinum ornaments, so a special attention should be paid in this area.



Among the service facilities, respondents suggest to decrease billing process.



Steps should be taken to attract more wedding customers.

CONCLUSION To conclude the overall responses of the customers of PNG is good. The overall performances in all areas are satisfactory. 50

During the study it was found that the following factors such as making charges, salesman responsiveness, ornaments designs, price & ethical practice etc. has satisfactorily influenced customer satisfaction. Further, there is some kind of promotion activities required to hold the present customers and make new customers.

BIBLIOGRAPHY



Consumer Behavior. 51

- Matin Khan 

Marketing Management - A. Vinod



Company profile and company magazines.



www.wikipedia.com



www.google.com



www.PNG.in

ANNEXURE

QUESTIONNAIRE Name

: ________________________________ 52

Address

: ________________________________

Ph. No

: ________________________________

1. Gender a. Male

b. Female

2. Marital status a. Married

b. Unmarried

3. Age (in years) a. Below 18 c. 29 - 38

b.19 - 28 d. Above 38

4. Your children’s detail: a. Daughter

b. Son

Name______________

Birthday

5. Please tell us about your overall shopping experience at PNG. a. WOW

b. GOOD

c. COULD BE BETTER

6. Experience at store A. Were the sales staff warm and courteous? a. WOW

b. GOOD

c. COULD BE BETTER 53

B. Did you get prompt service from the sales staff? a. WOW

b. GOOD

c. COULD BE BETTER

C. Did the sales staff understand your requirements? a. WOW

b. GOOD

c. COULD BE BETTER

D. Did the sales staff have good knowledge about the jewellery you purchase? a. WOW

b. GOOD

c. COULD BE BETTER

E. Were the sales staff well groomed? a. WOW

b. GOOD

c. COULD BE BETTER

F. Were you offered soft drink, tea, or coffee at the store? a. WOW

b. GOOD

c. COULD BE BETTER

G. Could you make your purchase at a leisurely pace? a. WOW

b. GOOD

c. COULD BE BETTER

H. Was your billing smooth and quick? a. WOW

b. GOOD

c. COULD BE BETTER

I. Was the Anuttara Loyalty Program explained properly? 54

a. WOW

b. GOOD

c. COULD BE BETTER

J. Were you assured of a good service after purchase? a. WOW

b. GOOD

c. COULD BE BETTER

7. Store ambienceA. Was the entrance to the store clean and welcoming? a. WOW

b. GOOD

c. COULD BE BETTER

B. Was the store ambience comfortable? a. WOW

b. GOOD

c. COULD BE BETTER

C. Was the jewellery display appealing? a. WOW

b. GOOD

c. COULD BE BETTER

D. Were the washrooms clean? a. WOW

b. GOOD

c. COULD BE BETTER

E. Was the showroom well-lit? a. WOW

b. GOOD

c. COULD BE BETTER

8. Quality of jewellery/ design and rangA. Jewellery designs appealed to my taste. a. WOW

b. GOOD

c. COULD BE BETTER 55

B. Wide range of jewellery is available. a. WOW

b. GOOD

c. COULD BE BETTER

C. Craftsmanship / finish. a. WOW

b. GOOD

c. COULD BE BETTER

D. Jewellery purchased is worth the money spent. a. WOW

b. GOOD

c. COULD BE BETTER

E. Exclusive / unique design is available. a. WOW

b. GOOD

c. COULD BE BETTER

9. Is there anything you want to share about your experience at the store? a……………………………………………………………… b………………………………………………………………

10.Would you visit this showroom again? a. Yes

b. Maybe

c. No

56

11.Would you recommend the showroom to other? a. Yes

b. Maybe

c. No

12.For whom did you buy the jewellery? a. For yourself

b. For gifting

13. Are you satisfied with making charges of PNG? a. YES

b. NO

14.What is the occasion for which you bought the jewellery? a. Wedding

b. Daily wear

c. Birthday/Anniversary

d.Festival

Other special occasions (specify)__________________

15.Lastly, can you tell us what you like the most about PNG? a. The assurance purity

b. Design & craftsmanship

b. Availability of a wide range

d. In-store & after sales service

e. Promoted by the Tata group Any other (please specify):___________________________________

57