SUMMER PROJECT REPORT
Devising Customer Feedback Management System and Study the
consumer buying behavior for jewellery productsForMaya Jewels By
Gitanjali
Prepared for the Mumbai University in the partial fulfillment of
therequirement for the award of the degree in MASTERS OF MANAGEMENT
STUDIES
Submitted By:Swati NairRoll No:55 MMS-II(Marketing)
Under the guidance ofMrs.Vaishali Kulkarni
SFIMAR
St Francis Institute Of Management And Research, Mt. Poinsur,
S.V.P Road, Borivali (W) Mumbai.Batch- 2011-2013
ACKNOWLEDGEMENT
I am extremely grateful towards people who have guided me in
preparing this project.
I take this opportunity to thank all the people without whose
help, guidance and inputs it would not have been possible to make
such an extensive project report.
I would like to thank my College guide Mrs.Vaishali Kulkarni who
has guided me through out my project
I would also like to thank my corporate guide Mr. Mukesh Gajra
(VP-Retail Operations) & Mr. Tino Gonsalves (Sr. Marketing
Manager) for their continuous support by providing me with
necessary information on time.
DECLARATION
I hereby declare that the following project report Customer
Feedback Management System For Maya Jewels By Gitanjali and study
the consumer buying behavior for jewellery products compiled by me
under the guidance of any my college guide Mrs.Vaishali Kulkarni
and my coporate guide Mr Tino Gonsalves is an original work &
the information submitted is true, appropriate and to the best of
my knowledge.
Swati Nair Mr.Tino Gonsalves (Company Guide)
Mrs.Vaishali Kulkarni (Project Guide)
MMS II [Marketing]
EXECUTIVE SUMMERYCustomer feedback management system is a
mechanism that allows one to gain responses of customers about what
they feel about a particular product or service. Feedback could be
in a form of a complaint or suggestions about a product or
service.Maya Jewels have not implemented a customer feedback system
till date.The main competitors of Maya Jewels are TBZ and
Tanishq.As compared to both, Maya jewels has not been able to reach
the benchmark that TBZ and Tanishq has achieved.Therefore to
understand exactly why Maya Jewels has been lacking behind a
customer feedback system has been developed to understand the
customers that buy or dont buy jewellery from Maya Jewels.For that
purpose,first secondary data research was conducted to find about
various customer feedback mechanisms that have been
implemented.Secondly,a informal discussion with different jewellery
/Non jewellery retail stores was undertaken to understand their
mechanism of feedback.Later a feedback form is designed based on
the informal discussion and secondary data that was found about
jewellery items.Feedback forms are designed by the graphic
designers in the organizationAlong with feedback forms, incentives
have been introduced for customers and sales
representatives.Finally a mechanism was created which defines the
process of feedback.For Maya Jewels ,customer satisfaction is the
ultimate motive.Maya Jewels came into existence on September
2011.Since they are new to the jewellary industry ,they wanted a to
know the basic need and want for a jewellery product.Hence this
project was undertaken to understand the consumers perception about
Maya Jewels and what are their desires and need for their
jewellery.Maya Jewels are also in apparels. But the wanted to focus
more on the jewellery aspectHence a small research survey was
conduct for 20 days outside the store when the main target audience
were females. This project will help Maya Jewels to figure where
they are lacking behind in terms of quality,design,price,purity etc
of the product.The survey will also help Maya Jewels coming up with
ideas of how to increase their brand awareness and how to introduce
new ideas and schemes for their jewellery.
INDEXSr.NoTopicPg.No
1.Company Profile7
2.Departmental Chart11
3.Part 113
Drawbacks of existing system/opportunity for development14
5.Need for study15
6.Objectives17
7.Research Methodology18
8.Collection of data19
9.Mechanism20
10.Implementation36
11.Limitation36
12.Future Scope36
1.Part 237.
2.Need for Study37
3.Objectives38
4.Research Methodology38
5.Analysis and Implementation39
6.General Findings45
7.Limitations46
8.Future Scope46
9.Recommendations and Conclusions47
10.Bibliography/References48
11.Survey Form49
INTRODUCTION TO COMPANY PROFILE
Gitanjali Lifestyle Limited(GLL)Gitanjali Lifestyle Ltd,
incorporated in 2007 is the luxury & retail arm of The
Gitanjali Group, with a turnover of US $ 1 billion with an
experience of 40 yrs in the branded jewelry segment. This new
venture aspires to tap the unexplored luxury & premium retail
segment of the society. The group has forayed into Retail of Luxury
& Lifestyle Products with an intention of opening stores in
premium market places.
Gitanjali Lifestyle has taken an evaluated decision to venture
into the business of Retailing Branded Lifestyle Products. The arm
brings in a plethora of brands that are synonymous with luxury
& style. The stores will be the prime destination for
individuals who have a high fashion quotient, covering all aspects
of lifestyle retailing, combining Jewellery, Watches, Silverware,
Perfumes & Cosmetics, Leather & Accessories.
The stores will be in multi formats ranging from 500 sq ft mini
stores to 25,000 sq ft departmental stores. Besides these there are
two malls of about 2 lac sq. ft each in the pipeline. Lifestyle
formats business intends to open the franchise formats to expedite
the growth of its upcoming projects.
Maya JewelsThe stores combine the advantages of branded
jewellery outlets with the advantages of a traditional jeweler,
giving the customer an exciting mix of the best of both worlds.
Targets the midsegmetA new chain of stores that offers most of the
conveniences associated with modern retail as well as the benefits
of the traditional family jewellers, giving the customer an
exciting mix of the best of both worlds The stores offer a wide
assortment of products, from dazzling diamonds and glittering gold
jewellery to glamorous personalized precious accessories. While a
few of these are from well known and established brands such as
Maya Gold ( 100% BIS Hall Mark Jewellery), Maya Diamonds, Maya
Pearls, Adler & Roth, Nakshatra, Parineeta,Gili and others, a
large part of the offerings are open price jewellery products where
there is complete transparency for the customers.
JewelsoukA multi-brand, multi-category lifestyle store chain
that brings together all major jewellery brands under one roof,
marking a new landmark in the development of the modern, organized
segment of the Indian retail jewellery trade, which is today
estimated to have a turnover of Rs 5,00,000 crore, of which nearly
60 percent is from the burgeoning domestic market.Jewelsouk will
serve as a platform for leading fine jewellery, fashion jewellery
and watches brands to come together under one roof and offer a wide
variety to the consumer. The emphasis in the new format will be on
offering consumers easy access to a wide range of national and
international brands in a unique ambience that aims to make
shopping more pleasurable and more convenient. This new format is
being introduced at the International Terminal of the Mumbai
airport and will subsequently be extended to other lifestyle and
luxury department stores that are emerging in the metros and Tier
II cities. This will include premier shopping destinations such as
Walmart, Centrals, Spencers, Star Bazaar, Kapsons and leading stand
alone departmental stores.The Indian consumer is demanding a
shopping experience that offers both the variety of choice and the
high levels of quality that she enjoys in other leading
international cities. JewelSouk aims to satisfy that need and boost
the modern retail segment of the trade. It will offer exquisite
jewellery and a few other branded lifestyle accessories to satisfy
every type of taste.
GianttiThe perfect destination for the connoisseur of high end
luxury jewellery, offering an array of haute couture Indian and
international brands with an exquisite allure and appeal. With
gorgeous interiors that provide a unique international ambience and
professional guidance and personal attention from expert jewellers,
its the ideal destination for the woman who likes to choose in
comfort and with care
Adler and Roth (ANR)Adler & Roth is a range of eclectic
silver centerpieces across different categories with a design and
finish that speaks of a rich European heritage yet has a modern and
very contemporary feel. It consists of religious idols and
spiritual symbols that are at once both traditional and trendy, and
decorative objects and items for your home or office. Some of the
pieces have an aesthetic blend of precious metal with
out-of-the-ordinary items like wood, stone, clay, crystals, and
semi-precious stones. The intricate designs and delicate filigree
work give the collection an exotic and exclusive finish. Each piece
is a unique, limited edition design conceptualized and created by a
dedicated and experienced design team and then crafted with the
utmost care by a team of highly skilled master craftsmen. Created
using the finest quality of silver and materials, the brand is also
an environment friendly product made from a base of bio-degradable
terracotta clay.Through this store the Indian consumers are offered
unique and contemporary sculptures which make the perfect gifting
item, the brand has a unique signature style and an elegant,
premium look and feel which adds a dash of character to your home
or office. With this flagship store we will provide consumers an
enhanced shopping experience and offer beautiful creations which
are sure to leave you mesmerized.
DEPARMENTAL CHART OF GLL MARKETING
The Marketing department is responsible for all the marketing
activities that happen in GLL.Every store format will have on
marketing manager who is responsible for activities like
promotions, ATL/BTL activities, product, pricing, locations etc,
event management etc.The Department also has graphic designers who
are responsible for making the logos, taglines, pamphlets,
vouchers, danglers etc mostly into BTL activities. The graphic
designers are a Pro within the graphic design and graphic arts
industry who assembles together images, typography or motion
graphics to create a piece of design. A graphic designer creates
the graphics primarily for Branding, published, printed or
electronic media, GLL also has a visual merchandising team. Visual
merchandising is the activity and profession of developing floor
plans and three-dimensional displays in order to maximize sales.
Visual merchandising commonly occurs in retail spaces such as
retail stores and trade shows.The purpose of visual merchandising
is to: Make it easier for the customer to locate the desired
category and merchandise. Make it easier for the customer to
self-select. Make it possible for the shopper to co-ordinate and
accessories. Recommend, highlight and demonstrate particular
products at strategic locations. Educate the customer about the
product in an effective & creative way.All the above managers
are suppose to report to the Senior marketing manager who is
responsible for the entire marketing department. Note that the
Marketing and Sales departments are two differ departments in
GLL
Part- I
To develop an effective customer feedback management system and
to ensure proper communication between the customers, retail stores
and head offices for Maya Jewles
DRAWBACKS OF EXISTING SYSTEM
The current system that the organization follows is each retail
store has a visitors book.The visitors book contains three columns
namely Name of the customer, Telephone number and Comments.Normally
the comments are short E.g. Good,Satisfactory,Not happy, Didnt like
anything etcIt is very difficult to interpret these comments that
the customer have written.As a result the organization fails to
realize as to why customers arent satisfied with their store
products.Also they fail to understand the need of the
customerMoreover it is not guaranteed that the customer have
written down the details. Incidents have occurred where the store
manager has asked the name and phone number of the customer and
themselves put the comments which could be falseA proper customer
feedback system has not yet been implemented in this
organization.The current system(Visitors book) can be developed by
providing a better customer feedback form having relevant questions
that can be easily understood by the customers, less time consuming
and hence gives the organization an opportunity to bridge the gap
between the customers and the store products.
NEED FOR STUDYMany new business owners and directors of limited
companies are scared of feedback. The reasoning is quite simple.
People dont generally go out of their way to give positive
comments, but are more than happy to write a complaint, grumble or
negative thought when they feel they have been wronged. Of course
the truth of the matter is both sorts of feedback are useful in one
way or another.Further still, negative feedback may well be more
useful than positive comments. Unfortunately because of the nature
of human beings the number of negative comments is far likely to
outweigh the number of positive, but this isnt necessarily a bad
thing, nor is it a sign that youre business doing a terrible job.
It just shows there is room for improvement.A good business will
take the negative comments on board and adapt the way it operates
in order to please those few people who are unhappy and hopefully
improve the overall quality of customer care within the business.
Of course drastic changes may not be the best course of action as
you may end up displeasing the customers who are happy, which is
why actively seeking customer feedback is a good plan.Get Honest
OpinionsCustomer feedback is a vital way to get honest opinions on
your services or products from people who are familiar with them.
These opinions can make it easier to get into the minds of the most
important critics.Improve RelationsWhen customers feel that a
business truly cares about them and what they think, they may be
more likely to be loyal customers. When a business makes changes
according to feedback, it shows that they truly listen and respect
those opinions.Inexpensive Business AdviceSome businesses pay
thousands of dollars for someone to come in and tell them what
improvements need to be made to the business to get more customers.
Customer feedback is essentially inexpensive business advice
directly from the source.More CustomersWhen a business is willing
to receive feedback and listen to it, word spreads and more
customers may be willing to give you a shot based on your
commitment to excellent customer service.Positive ChangesA business
does not like to brag about the negative aspects of their
operation; they want to have mostly positive things to say.
Customer feedback can mean positive changes according to their
comments, which could mean a better reputation and more money for
the business.
OBJECTIVES
1) To develop a customer feedback system for GLL (Maya Jewels)
in order to understand the requirement of the target customers2) To
study and develop a systematic approach in bridging the gap between
the customers and Maya outlets.
RESEARCH METHODOLOGYThe research design used was exploratory and
descriptive in natureArea of StudyThe feedback system was developed
for all the Maya Jewels stores all over India.
Period of study
The concept of feedback system has been in India for a very long
time. But as of now Maya jewels has not implemented the feedback
system in their store. So first a Feedback system was needed to be
developed and the further Analysis would be done.
Collection of dataThe data collection approach was through both
primary and secondary data.For the feedback system an informal
discussion with different retail stores(jewellery /Non-Jewellery)
manager was conducted to understand their feedback system and
accordingly develop a feedback mechanism for Maya Jewels.fTanishq
feedback SystemTanishq had a proper feedback system maintained.They
had two feedback forms i.e Purchasers and Non-Purchasers.Also
Tanishq provided a Voice form in case of any complains from the
customers
Visitors BookAVisitors Book is a book for a visitor to
acknowledge their visitation to a site, physical or web-based, and
leave their name, postal or address (if desired), and a comment or
note, if desired.Most of the retail stores visited maintained a
Visitors Book
MECHANISM OF FEEDBACK IN MAYA JEWELSFeedback form for Maya
jewels By Gitanjali
Front side
Back side
CLOSED LOOP FEEDBACK
The Feedback forms would be send across from the H.O to the
storesThe forms will be placed in a dispenser near the cash
counter
The type of dispensers available in the market are the
following:
H.O sends forms
1. Marketing couriers the feedback forms to the store2. RSMs are
informed about the details and quantities of forms sent to their
respective stores3. Marketing briefs the RSMs on the process for
the feedback form based on the following deck
Guidelines1. All feedback forms are serial numbered2. Sales
staff to ensure that they get feedback from shoppers as well as non
shoppers3. Feedback form Target: Basically it should be half of our
monthly footfall. E.G. if the footfall is 500 PM then we should be
able to fill at least 250 feedbacks forms4. Customer Incentive:
Gift/Reward Coupons (Conditional voucher on Diamond Jewellery) can
be given to the customers for filling the feedback form.
Voucher(For customer incentive)
Along with the voucher following items also will be given:Swarna
Mangal (Gold price protection plan) and Shagun (Jewellery saving
plan)
Out Side
Inside
Jewellery Cleaning Card
Customer fill the Form
1. The customer must be approached to fill the form when he/she
has already selected the product and ready to proceed for billing2.
In case of non shoppers they should be approached when they make
their closing remark of Thank you we will be back3. Take time and
approach with a smile4. Employee will be rewarded with a
appreciation certificate if the number of feedback forms collected
is above the target number
Send the feedback to the H.O
1. The filled forms should be kept separately and a backup of
the same should be maintained in excel 2. The store manager is
responsible to ensure that the filled forms are dispatched to HO
every TUESDAY3. A special column to be added in the DSR for the
number of Feedback forms filled4. The feedback form has be
couriered at the following address: To, xxxxxxTransmission House,
Plot No. 6/19, marol Co Op Ind. Estate Near Marol Bhavan Andheri
East, Mumbai 400 059
Revert Back
1. The forms received at the H.O will be analyzed.2. After
analyzing the feedback, the H.O will revert on the actions to be
taken on the feedback from the customers.
IMPLEMENTATIONThe above feedback mechanism has been implement
from 1st july 2012 onwards.
LIMITATIONSDue to time constraint ,analysis of the feedback
forms could not be conducted.
FUTURE SCOPEAnalysis of the feedback forms can done after 1
month of the implementation
Part 2:To study the buying behavior of consumers for jewellery
products for Maya Jewels
NEED FOR STUDYThe "Consumers" or the "Customers" play a very
critical role as these are the people who finally BUY the goods
& services of the organization, and the firm is always on the
move to make them buy so as to earn revenue.The study of consumer
behavior (CB) is very important to the marketers because it enables
them to understand and predict buying behavior of consumers in the
marketplace; it is concerned not only with what consumers buy, but
also with why they buy it, when and where and how they buy it, and
how often they buy it, and also how they consume it & dispose
it. Consumer research is the methodology used to study consumer
behaviour; it takes place at every phase of the consumption
process: before the purchase, during the purchase, and after the
purchase.The study of consumer behavior helps management understand
consumers' needs so as to recognize the potential for the trend of
development of change in consumer requirements and new technology.
And also to articulate the new thing in terms of the consumers'
needs so that it will be accepted in the market well.Consumer
buying behavior for luxury products is very different. Luxury
products arent bought at every moment.Jewellery being a luxury
product is not bought quite often. Customers especially women tend
to be very choosy when it comes to jewellery .They have their own
taste of design,quality,making of the gold,price,brand etc.Maya
Jewels wants to understand whatar the needs and wants of the
customers in terms of the jewellery.
OBJECTIVESTo understand the buying behavior of jewellery
products for Maya jewels.
RESEARCH METHODOLOGYResearch Design: Exploratory and
DescriptiveSample Size : 40Sampling Technique: Convience
SamplingData CollectionData collection was done through a survey
that was conducted in the regions where Maya Jewels by Gitanjali
was located.
SURVEY ANALYSIS AND INTERPRETATIONS1) Name: Age: Location:
Occupations: Most of the Women that were targeted were either
working or were housewives
2) Which store comes to your mind when you hear the word
jewellery?
50% of the sample size think about Tanishq when they want to buy
jewellery.This shows that Tanishq has managed to put its name into
the consumers minds which indicates their affectiveness of their
brand awareness
3) Have you heard of Maya Jewels by Gitanjali?
75% of the sample size have heard about Maya Jewels by
Gitanjali.Here they are aware about the existence of Maya
Jewels
4) How did you come to know about Maya Jewels?
45% of the sample size came to know about Maya jewels from
Newspaper and T.V .This shows that the population gain information
about the jewellery products through newspaper and T.v ads
5) Have you ever purchased any jewellery from Maya Jewels by
Gitanjali?
6) When are the major times do you purchase jewellery in your
community?(If festivals, Please Specify) Marriages Festivals
Birthdays
7) What kind of jewellery is preferred during weddings in your
community?(Community Name) Kerala Traditionally brides are adorned
from head to toe with gold ornaments, these days diamonds are also
gaining popularity An entire set consisting of a necklace,
earrings, ring, bangle. Single units of chains with
pendants/rings/earrings (as gifts). (East Indian Community) Almost
all the communities prefer gold chain and necklaces
8) What kind of jewellery do you buy?
35% of the population buy gold and 25% population bought
diamonds. Remaining preferred pearls and other ornaments .This
9) You buy jewellery for
45% of the sample size buy jewellery during festivals and 35% of
them buy during birthdays and 10% for investment purposes.This
shows that women normally purchase their jewellery during special
occasions like AkshyaTritiya etc.10) How frequently do you buy
jewellery in a year?
Jewellery being a luxury product ,they are bought only once or
twice a year
11) Before making any jewellery purchase, do you compare the
designs and the prices of the same between the branded showrooms
and local dealers?
75% of the sample size compare the jewellery with other branded
jewellery products.
12) Is attractive packaging Important to you?
50% find that packing of the product is important whereas 50%
find that it is not important.
13) Factors that guide you while purchasing jewellery
45% find that design,price and purity of the product to be a
guiding factor in purchasing a jewellery product whereas 35% look
out for the brand image.
GENERAL FINDINGS Though Maya jewels are known to all, they fail
to let the customers in purchasing their product. One of the
reasons is that the making price of gold in Maya jewels is more as
compared to Tanishq. Another reason is the brand awareness, Though
Maya jewels come up with promotions and offers time to time, they
fail to register their brand name into the consumers minds.
LIMITATIONS Due to time constraint, large sample size wasnt
taken Some of the customers didnt entertain during the survey
FUTURE SCOPE A further research can be conducted by Maya jewels
where the sample size is huge A comparative study between
Tanishq,TBZ and Maya Jewels could be undertaken to understand where
Maya jewels stand in the benchmark. Also research can be conducted
about the various demands and wants of the jewellery products in
terms of designs,purity,price,quality etc for Maya jewels.
REOMMENDATIONS AND CONCLUSIONS From the survey it is understood
that Maya Jewels needs to increase their brand awareness as most
women think of Tanishq or TBZ when it come to jewellery products
Maya Jewels must mainly focus their promotions and brand awareness
through Newspapers and T.V ads Maya Jewels must come up with more
offers during Festivals seasons as women by jewellery during this
time Mainly Gold and diamond jewellery are preferred They should
concentrate more on the design, price and purity of the jewellery
because thats what women look out for . Schemes on gold price can
be taken in to consideration where customers need not pay for the
entire gold price.(SWARNA MANGAL,SHAGUN PLAN etc)(Some stores have
already implemented before) They must come up with time to time
offers or discounts on gold prices and diamonds.
REFERENCEShttp://www.quintcareers.com/interview_question_database/interview_questions_15.html
http://home.ubalt.edu/ntsbpitt/Online%20Consumer%20Communities.pdf
http://www.slideshare.net/vishalbehani2507/consumer-buying-behaviour-perception-about-tanishq-the-jeweller
http://www.slideshare.net/musicoholic/tanishq-brand-analysis-by-anand
http://www.franchiseindia.com/business-opportunities/Retail/gitanjali-lifestyle/
http://www.ddamas.co.in/pages/FAQ---Ddamascoin/pgid-29353.aspx
http://www.exoticindiaart.com/jewelry.htm
http://marketingpractice.blogspot.com/2009/02/tanishq-revitaliser-of-tradition.html
http://www.oppapers.com/essays/Case-Study-Tanishq/164039
SURVEY FORMSr.No
Dear Customer,To ensure that we are able to serve you better,
please take a few moments to share your details/experience/feedback
with us. We are committed to ensuring that your privacy is
protected. All information used is strictly for internal use. It
shall not be shared by third parties.
Name:Age:Occupation:City:Pincode:
1. Which store comes to your mind when you hear the word
jewellery?
2. Have you heard of Maya Jewels by Gitanjali?a) Yesb)No 3. How
did you come to know about Maya Jewels?a) Newspaper
b)Friends/Family c)T.V Adsd)Others4. Have you ever purchased any
jewellery from Maya Jewels by Gitanjali?a) Yes (Please Specify)b)
No
5. When are the major times do you purchase jewellery in your
community?(If festivals, Please Specify)
6. What kind of jewellery is preferred during weddings in your
community?(Community Name)
7. What kind of jewellery do you buy?a)
Goldb)Silverc)Diamondsd)Pearls e)Others
8. You buy jewellery fora) Festival seasonb)Birthday/Anniversary
c)Investment purposed)Giftinge) Others9. How frequently do you buy
jewellery in a year?
10. How much do you generally spend on jewellery purchases?
11. Before making any jewellery purchase, do you compare the
designs and the prices of the same between the branded showrooms
and local dealers? a)Yesb)No12. Is attractive packaging Important
to you?a) Yesb)No13. Factors that guide you while purchasing
jewellerya) Brand Imageb)Design, Price ,Purityc)Promotions and
offersc) All the above
Suggestions/Feedback
Thank You for your time!!!!!
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