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INDUSTRY PROFILE OF INDIAN JEWELLERY

The Jewellery Industry is one of the fastest growing industries in the country. The
growth in purchasing parity of the middle class and surging income levels have
resulted in consumption growth of jewellery by about 11 percent in the five-year
period preceding 2007-08. It also contributes over 15 per cent of Indias total
exports and provides employment to 1.3 million people directly and indirectly.
The two major segments of the sector in India are gold jewellery and diamonds.
Gold jewellery forms around 80 per cent of the Indian jewellery market, with the
balance comprising fabricated studded jewellery that includes diamonds as well
as gemstone studded jewellery.
India consumes nearly 800 tones of gold accounting for about 20 per cent of the
world gold consumption, of which nearly 600 tones goes into making jewellery.
The Indian jewellery market, estimated to be US$ 13.5 billion in fiscal 2006-07,
accounts for 8.3 per cent of world jewellery sales.
Indian jewelry made of following: diamond jewelry, gold jewelry, silver jewelry,
and platinum jewelry, pearls jewelry.
The domestic branded jewellery market, which has players such as Tanishq,
Cygnus, kiah and nakshtra. Figures show that there are now more than 5,000
retail stores that sell jewelry in the area.
New figures have revealed that Indian jewelry market is now worth more than Rs
58, 000 crore, a study has concluded that it is growing in popularity at a
tremendous pace of 20-30 per cent.

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According to the survey, gold jewelry is the first metal of choice amongst Indian
consumers. Such is the potential of this industry that the consulting firm
McKinsey estimates the branded jewellery market in India to grow at the rate of
40 per cent per annum to touch Rs.10,000 crores by 2010. The shift was visible
in 2004 when more than 30 players entered the market. Today there are more
than 50 brands, endorsed by models, film actors, sports celebrities and other
well-known faces. Indian jewellery demand rose by 70 per cent during the first
half of 2007 compared with the same period last year. Jewellery demand
increased to 387 tonnes from 227 tonnes during the period

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INTRODUCTION OF THE COMPANY

Established in 1972, Cygnus Jewellery is an offshoot of the Laxmi Diamond
Group, the 2nd largest exporter of polished diamonds in the country. Cygnus has
over 223 outlets across India. Cygnus also has a number of exclusive
showrooms in almost all major metros and has established its prominent
presence in Mumbai, Ahmedabad, Delhi, Chandigarh, Kolkata, Hyderabad,
Bangalore,Gurgaon and noida.
The Rs 1,000-crore Laxmi Diamond group on introduced its Cygnus brand of 18K
gold and diamond jewellery in the domestic market. Priced in the range of Rs
1,000-30,000, Cygnus will be retailed at lifestyle stores, traditional jewelers and
exclusive franchise outlets. The collections are available at Cygnus Jewellerys
223 outlets across the country and are priced at Rs.15,000 and above.
The brand Cygnus will soon be launching its flagship stores in Chennai,
Bangalore and Pune and add to its existing stores in Mumbai, Ahmedabad, surat,
kolkata, noida, and gurgaon.
These are some highlights of the Cygnus jewellery.

Launched in July 2003.

Variety available in Rings, Pendants, Earrings, Nose pins, Sets, Bracelets,

Neckwears and Bangles.

Jewellery manufactured is certified by independent GEMOLOGICAL

LABORATORIES (USA).

223 point of sales across the country.

Presence in 41 cities.

Exclusive Cygnus galaxy in mumbai, noida, guragaon, kolkatta,

ahemedabad, Surat & chennai and man more.

Cygnus galaxy at Surat on 22nd October 2004.

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MEANING OF BRAND
Branding is the art and cornerstone of marketing. The American Marketing
Association defines a brand as : a name, term, sign, symbol, or design, or a
combination of them, intended to identify the goods or services of one seller or
group of seller and to differentiate them from those of competitors. Thus a brand
identifies the seller or maker. Under trademark law, the seller is granted exclusive
right to the use of the brand name in perpetuity. Brand differs from other assets
such as patents and copyright, which have expiration dates.

Brand is a name, term, sign, symbol, or group of sellers and to differentiate then
from those of competitors.

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BRAND AWARENESS
It is the ability of potential buyer to recognize or recall that a brand is a part of a
product category. In other words, the customer should be able to identify a firms
product in the retail stores or able to recall its brand whenever he or she thinks of
the product class. Brand awareness has to be thought of as A continuous range
from an uncertain feeling that a brand is recognized to a belief that it is the only
one in product class. At the top of this continuum is the brand that exists at the
top of the customers mind.

BRAND BUILDING TOOLS

A common misconception is that brand are basically built by advertising. It is true
that T.V. advertising in its early day was the most effective brand building Tool.
Now a days following are the other new tools for brand building.
~ Public relation & process releases.
~ Sponsorship
~ Factory visit
~ Trade shows
~ Event marketing
~ Founders or a celebrity personality
Although branded jewellery accounts for less than 10 per cent of the Rs.40,000crore jewellery market, a study has concluded that it is growing in popularity at a
tremendous pace of 20-30 per cent annually. The shift was visible in 2004 when
more than 30 players entered the market. Today there are more than 50 brands,
endorsed by models, film actors, sports celebrities and other well-known faces.

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OBJECTIVE OF THE STUDY

I have selected Brand recall of the CYGNUS JEWELLERY as main objective
of my study.
On the basis of this study the company comes to know how many people are
aware about the brand CYGNUS and can also know which type of jewellery
people expect from them and what people feel about CYGNUS JEWELLERY.

Secondary Objectives: 1. To know which brand in jewellery market has lead the market in the
Surat city.
2. To know the sources from where people become aware about the
Cygnus jewellery Brand.
3. To know perception of people towards Cygnus jewellery.
4. To check effectiveness of various promotional schemes of the
Cygnus jewellery.

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BENEFITS OF THE STUDY

This project report and survey can be helpful for knowing the brand awareness of
Cygnus jewellery in Surat city. As we know that Cygnus is the famous brand in
jewellery so from this report we can find out that how many people are aware
about the Cygnus brand in Surat city. We can also find which other brand are
known by people.

Some of the other benefits can be:

It will provide information about the brand awareness of Cygnus Jewellery

in Surat city.

It will help marketing department to know effectiveness of various sources

of promotion.

It will help management to take decisions regarding promotional schemes

and tools to be used.

It provides information about the current market position of the brand

CYGNUS.

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LIMITATIONS OF THE STUDY

As no human being is perfect, it is not possible for any one to make the best or
perfect report. Each person has some level of knowledge and is affected by
some uncontrollable factors within which he/she has to work. So, it might
possible that there can be some limitations in this report that may be due to my
knowledge level or some other factors. According to me following limitations can
be prevailing in my report:

The study contains convenience sampling because of limited time.

There are possibilities for getting wrong response from respondents.

The study cannot cover whole population as it is limited only within some
area for survey.

The time limit for the project is only 2 months.

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RESEARCH DESIGN
A Research design is a master plan or model for the conduct of formal
investigation. A Research design is the specification of the methods and
procedure for acquiring information needed for solving problem. The formal
investigation plan will concentrate on the selection of sources of information and
selection of model and procedure for gathering data.
The research design can be classified in three broad categories:
(A) Exploratory
(B) Descriptive
(C) Casual
Exploratory research is focus on the discovery of ideas. Exploratory research is
carried out to define problems and developed hypothesis to be tested later. An
exploratory study is generally based on the secondary data that are reading
available. It does not have a formal and rigid design as the researcher may have
to change his focus of direction, depending on the availability of new ideas and
relationship among variables.
For this project exploratory research design suits best, so, I have chosen this
method of research design.
Descriptive studies are undertaken in many circumstances. Descriptive studies
can be complex, determining a high degree of scientific skill on the part of the
researcher.
Casual research help in determined cause and effect relationship. Between two
or more variables.

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SAMPLE DESIGN:
Sampling design requires taking decisions related to target population, sample
size and sampling method. These are described below:
Target Population
Target population is a group about which conclusion is to be made. For this
research it will be people of Surat city.
Sample Size
Sample size can be defined on the basis of protesting of many samples after pre
testing of many persons. As per the census of 2004, Surat city has provisional
population of 30, 58,400 approx.
So it is difficult to approach the entire population of Surat city. So I have selected
100 respondents by using Convenience sampling method from Varachha road,
Ring road, City light area, Parley point area in Surat city.
Sampling Method
Sampling method selected for this research is convenience sampling as a part
of non- probability sampling.
DATA COLLECTION METHOD:
Once the research design and sample design has been decided the next stage is
that of selecting source of a data. Essentially, there are two type of source of
data i.e. primary data and secondary data. For our research the best-suited
method is primary data collection.
The primary data are those data that are collected for the first time, and thus
happen to be original in character.

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To know brand awareness of Cygnus Jewellery requires meeting people and
asking them questions. And so, the best suitable instrument for data collection is
questionnaire. The main source of data for this research is questionnaire
In my research, I have gathered secondary data from website, books, and
company catalogue.

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1) Do you like to purchase branded diamond jewellery?

Pre
In no
In per
Yes
190
95
No
10
05
Total
200
100

Out of 100 people I have met 87% people prefer branded jewellery whereas 13%
do not prefer branded jewellery.

Which among the following brands you are aware of in the jewellery
market?
Brand
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Respondents

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Tanishq
Kiah
D'Damas
Nakshatra
Other
Total

57
23
45
47
8
260

As per above given data Tanishq is a well known brand and is followed by
Nakshatra and DDamas respectively. Whereas Kiah and other brands has got
very less awareness level in the Surat city. So, we can say that Tanishq is the
highest known brand in the city.

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Rank the following according to you.

Brand

Cygnus

21

32

14

19

14
11
8

17
12
14

14
17
27

16
22
19

22
9
23

17
29
9

28
34
100

26
22
100

10
11
100

5
6
100

13
19
100

18
8
100

Kiah
Tanishq
Asmi
Nakshatr
a
D'damas
Total

From the above graph it can be seen that Ddamas has got highest preference
in 1st rank and Nakshatra has also got highest preference in 1 st rank but is less
than Ddamas so it can be considered as 2 nd ranked brand. Asmi has got 3rd
rank, Tanishq has got 6 th rank, Kiah has got 5th and Cygnus has got 4 th rank as
per highest preference given by people.

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Do you know about CYGNUS brand?

Awareness
Yes
No
Total

Respondents
67
33
100

Out of 100 respondents I have met 67% are aware of the brand Cygnus whereas
33% are not aware or have not heard of this brand. So, we can say that brand
awareness of Cygnus in the Surat city is 67%.

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How do you come to know about the brand CYGNUS JEWELLERY?

(Multiple choice available)
Sources
Newspaper
Magazines
Sponsorship
Television
Hoardings
Relatives
Total

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Respondents
13
3
2
23
48
36
125

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This can be seen from the above chart that hoarding shows highest figure that is
48

which

is

followed

by

relatives(36),

television(23),

Newspaper(13),

magazines(3) and sponsorship(2) respectively. So, finally we can conclude that

among all the sources of promotion, hoardings play a major role in making
people aware about the brand.

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Which among the following comes to your mind when you hear of
CYGNUS JEWELLERY?
Kinds of jewellery
Diamond
Platinum
Gold
Silver
Total

Respondent
s
37
18
9
3
67

The above graph shows that around 55% (37) people thinks of diamond jewellery
when it comes to Cygnus, whereas 26% (18) thinks it as a brand of Platinum,
13% (9) considers it as a gold specialist and rest i.e.4% (3) sees it as a brand of
silver.
From the above chart it can be said that Cygnus is well known for its diamond
and platinum jewellery than other types of jewellery.
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Do you know how many showrooms CYGNUS has in Surat?

Showroom Awareness
Yes
No
Total

Respondents
53
14
67

Out of 67 people who are aware or have heard of Cygnus, only 53 people
knows about the number of showroom Cygnus has in Surat city whereas 14
people does not know it.
And among 14 people, who are not aware about both the showroom, 10 are
aware of Ghod-dod road showroom and only 4 gave name of Varachha
showroom. So, it can be said that people are not much aware about Varachha
showroom.

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Have you ever visited showroom of CYGNUS JEWELLWRY?

Visitors
Yes
No
Total

Respondents
45
55
100

Out of 100 people I have met only 45 have visited any of the showroom of
Cygnus. It can be said that out of 67 people who are aware about the brand only
45 have visited the showroom. So, conversion of awareness to visit/buying ratio
is only (45/67*100) 67%.

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Which among the following type of jewellery you have bought from the
CYGNUS showroom? (Multiple choice)

Kinds of jewellery
Diamond
Platinum
Gold
Silver
Total

Respondent
s
41
19
7
2
69

Out of 45 people who have visited Cygnus showroom highest number of people
have bought diamond jewellery followed by platinum, gold and silver respectively.
So, this data also supports that Cygnus is well known for its diamond jewellery.

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Would you like to visit CYGNUS showroom in future?

Response
Yes
No
Total

Respondents
42
13
55

Out of 55 people who have still not visited Cygnus showroom, 42 are willing to
visit it in future whereas 13 people are not ready to visit it. Some of the reasons
given by respondents for their unwillingness to visit the showroom are:

Loyalty towards other brands

Lack of variety in gold and silver jewellery

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Rate
Rating of price

Responde
nts
1
2
3
4
5
Total

discount:
13
11
9
9
3
45

On
a
scale of 5 to 1, highest number i.e. 13 people have gave is 1 st rate. So, it
can be said that price discount is the least attracting factor for the
visitors of Cygnus jewellery.

What attracts you more to go to CYGNUS showroom? (Give ratings from 5-1)

Rating of quality:
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Rate
1
2
3
4
5
Total

Respondents
7
5
7
9
17
45

Quality as a attribute for visiting Cygnus has got highest rating on 5 th scale i.e.,
people are highly attracted by quality of jewellery provided by the Cygnus.

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Rating of reliability:
Rate
1
2
3
4
5
Total

Respondents
6
14
8
10
7
45

Highest number of people have gave reliability as 2 nd rate. It shows that visitors
of Cygnus do not consider reliability as major concern for buying jewellery.

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Rating of availability of new designs

Rate
1
2
3
4
5
Total

Respondents
8
6
9
9
13
45

Availability of new design as a attribute for attraction of visitors to the Cygnus has
got highest rating on 5th scale. So, it can be said that this attribute attracts highly
to visit the showroom.

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Rating of variety of jewellery

Rate
1
2
3
4
5
Total

Respondents
11
9
12
8
5
45

Variety of jewellery has got 3rd rate by highest number of respondents. So, it can
be said that variety of jewellery available has got moderate attraction for the
visitors.

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How frequently do you visit the CYGNUS JEWELLERY show room?

Time Duration
Once in a month
Quarterly
Once in a six month
Yearly
Not fixed
Total

Respondents
0
3
6
9
27
45

Out of total 45 visitors of Cygnus Jewellery no one visits it monthly, 3 visits it

quarterly, 6 half yearly, 9 yearly and 27 said that their time of visit to the
showroom is not fixed.

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What you think for brand CYGNUS?

Perception
Good
Better
Best
Total

Respondents
14
29
24
67

Out of 67 people who are aware about the brand Cygnus, 29 considers it as a
better, 24 said it is the best and 14 people thinks that it is good. So, on an
average Cygnus has good status in the mind of people.

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You define CYGNUS as-

View
Premium brand
Great value for money
International class
A choice for every occasion
Total

Respondent
s
22
14
8
23
67

Most of the people considers Cygnus as choice for every occasion i.e., their
demand is being fulfilled satisfactorily, whereas 22 people sees it as premium
brand and feels proud in wearing its jewellery, 14 people considers it as great
value for money and only 8 perceives it as international class brand.

How you define CYGNUS as a brandNavnirman institute of management

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Some of the common answer defined Cygnus as:

A synonym for Diamond jewellery
A premium brand in reasonable price

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FINDINGS
87% people prefer branded jewellery whereas 13% do not prefer branded
jewellery.
Tanishq is a well known brand and is followed by Nakshatra and DDamas
respectively. Whereas Kiah and other brands has got very less awareness
level in the Surat city.
Ddamas has got highest preference in 1 st rank and Nakshatra has also
got 2nd rank. Asmi has got 3 rd rank, Tanishq has got 6th rank, Kiah has got
5th and Cygnus has got 4th rank as per highest preference given by people.
67% are aware of the brand Cygnus whereas 33% are not aware or have
not heard of this brand.
Among all the sources of promotion, hoardings play a major role in making
people aware about the brand.
Cygnus is well known for its diamond and platinum jewellery than other
types of jewellery.
53 people knows about the number of showroom Cygnus has in Surat city
whereas 14 people does not know it.
Highest number of people have bought diamond jewellery followed by
platinum, gold and silver respectively.
Out of 55 people who have still not visited Cygnus showroom, 42 are
willing to visit it in future whereas 13 people are not ready to visit it.
Price discount is the least attracting factor for the visitors of Cygnus
jewellery.
People are highly attracted by quality of jewellery provided by the Cygnus.
Out of total 45 visitors of Cygnus Jewellery no one visits it monthly, 3 visits
it quarterly, 6 half yearly, 9 yearly and 27 said that their time of visit to the
showroom is not fixed.
Most of the people considers Cygnus as choice for every occasion.

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RECOMMENDATIONS
Cygnus should increase the display and promotion of gold and silver
jewelley to attract more and more customer to visit its showroom.
Cygnus should increase its promotion by giving advertisement on local
channels through Television, it may help to increase brand awareness
level to the 100%.
Cygnus should also take participation in various sponsorship activities to
increase its visibility.
It should also open one show room in Adajan area so that all major areas
can be covered.

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CONCLUSION
After completing this research a conclusion can be made that Cygnus is very well
known brand in the Surat city and has also got considerable level of brand
awareness. It is very well known for its diamond jewellery.

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BIBLIOGRAPHY
Books:
1. Marketing Management, 11th Edition
- By Philip Kotler
2. Marketing Research, Third Edition
- By G.C.Bari
Websites:
- www.google.com
- www.cygnusjewellery.com
- www.wikipedia.com

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