COMPARATIVE STUDY OF ADVERTISEMENTS OF JEWELLERY BRANDS AND ITS IMPACT ON CUSTOMERS IN MUMBAI. by Scholarly Research Journal"s

Scholarly Research Journal for Humanity Science & English Language, Online ISSN 2348-3083, SJ IMPACT FACTOR 2016 = 4.44, www.srjis.com UGC Approved Sr. No.48612, FEB-MAR 2018, VOL- 6/26 https://doi.org/10.21922/srjhsel.v6i26.11574

COMPARATIVE STUDY OF ADVERTISEMENTS OF JEWELLERY BRANDS AND ITS IMPACT ON CUSTOMERS IN MUMBAI. Shalini Padhi1 & Parag Ajagaonkar2, Ph.D. 1

Research Scholar/Assistant Professor, Faculty of Commerce, Mithibai College, University of

Mumbai. Email ID-padhishalini@gmail.com 2

Principal, Narsee Monjee College, University of Mumbai, Email ID-drparag23@gmail.com

The main purpose of conducting this research is to study the impact of jewellery advertisements on the consumer buying behavior with special reference to Mumbai city. The objective of the study is to do a brand comparison on basis of their advertisements and to get an insight about the preference given to different elements of a jewellery advertisement on a rating scale by the consumers. Also, to analysis which media is most effective when it comes to reach the target audience. The primary data was collected through questionnaire and personal contact from around 145 customers. Mainlythe top five jewellery brands of the city have been taken into consideration for this research. The study was restricted only to Mumbai city. This study will help jewellery retailers to understand about whatconsumers notice in a jewellery advertisement and accordingly frame their promotional strategies. Keywords: Jewellery, Advertisements, Branded, Celebrity, Media.

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Introduction Jewellery since centuries has remained "neighbourâ€™s envy and owner's pride". The ornaments have remained exotic, unequalled and invaluable articles of personal glory. According to the statistics of the World Gold Council, India is the number one among world countries which kept most of its gold in households. Most of such gold are kept in the form of ornaments. A jeweller may use one or a combination of two or more of the promotional tools available to reach out to its targeted customers. There are a number of promotional strategies that are used in the precious ornament market of India. They are advertisements, promotional schemes celebrating auspicious days, offers and canvassing agents. The current paper tries to identify the impact of advertisement on the customer buying behaviour in Mumbai. Every advertisement aims to create Top of The Mind Awareness (TOMA) and stimulate a lasting image in the minds of customers. To do so jewellery advertisers employ several of marketing techniquesand focus on elements like theme of the ad, design of the jewellery, Copyright ÂŠ 2017, Scholarly Research Journal for Interdisciplinary Studies

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celebrityendorsers, and promotionalschemes. They also use various media to intensify the reach and impact. Literature Review As per a study by McKinsey on A multifacetedfuture: the jewellery industry in 2020, (Dauriz, Remy, and Tochtermann, 2014) everyjewellery company should seek to strengthen and differentiate its brands through unique, distinctive designs. The trend toward branded jewellery will be especially hard on small artisans, who don’t have the marketing muscle of the large jewellerygroups. One option for smaller players would be to seek distribution through ventures like Cadenza, Swarovski’s chain of curated multibandjewellery stores featuring well-known luxury brands as well as up-and-coming designers. According to Retailers guide to Marketing Diamond Jewellery (2007), Jewellery is predominantly a ‘considered purchase’; therefore it is important that, as a retailer facing lots of competition, you reach the consumer in a manner, which reflects the product and your shop environment. Advertising is probably the most cost-effective promotional tool for creating high levels of awareness among target consumers. However, because it can be expensive, it is essential you choose the right media to advertise your products and services. According to the Diamond Insight Report 2016(The De Beers Group of Companies) When it comes to shopping, Millennials use online methods alongside visiting traditional brick-and-mortar stores. They will often compare prices online, search for product information and look for discount coupons and promotions online. Omni channel shopping experiences are now the norm for younger consumers. Retailers who are not equipped for this will lose out among this client base Research Methodology Sampling area: Mumbai. Sampling unit: Customers with the age group 18-50. Sampling size: 145 Sampling type: random sampling method. Type of data: Primary data collected through questionnaire and Secondary data: Books, Journals and articles etc. This study is conducted on the customers with the age group 18-50 in the city of Mumbai. Questionnaire is developed very carefully and designed in such a way that it compares and helps analyse the impact of jewellery advertisements on consumers.

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Tools for Analysis Along with the usual statistical tools such as tables, percentages, Ranking, Proportion test (Z test for comparison between two proportions) were used for analysing the data and arriving at the conclusion. Data Classification & Tabulation Which jewellery brand ad do you recall having seen the most? Joya lukkas Kalyan Jewellers Mia Nakshatra png Tanishq TBZ Which jewellery brand ad do you recall on basis of theme /central idea of the ad? Joya lukkas Kalyan Jewellers Mia Nakshatra PNG Tanishq TBZ Which jewellery brand ad do you recall on basis of celebrity endorsement? Gitanjali Jewellers Joya lukkas Kalyan Jewellers Mia Nakshatra PC jewellers Tanishq TBZ Which jewellery brand ad do you recall on basis of promotional/discount schemes? Joya lukkas Kalyan Jewellers Mia Nakshatra

Frequency 01 37 02 06 01 84 14

Frequency 05 29 06 08 00 80 17

Frequency 01 03 61 00 07 01 64 11

Frequency 01 44 10 10

Shalini Padhi & Dr. Parag Ajagaonkar (Pg. 7411-7425) PNG Tanishq TBZ

00 64 16

Which jewellery brand ad do you recall on basis of design? kalamandir Kalyan Jewellers Mia Nakshatra PNG Tanishq TBZ

Frequency 01 22 07 08 00 87 19

What appeals you in a jewellery ad? [celebrity endorsement] 1 2 3 4 5 6 7 8

What appeals you in a jewellery ad? [brand name] 1 2 3 4 5 6 7 8 What appeals you in a jewellery ad? [promotional schemes] 1 2 3 4

responses 37 23 21 13 10 13 11 13

responses 45 28 18 09 09 09 13 11

responces 22 32 25 09

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Shalini Padhi & Dr. Parag Ajagaonkar (Pg. 7411-7425) 5 6 7 8 No response What appeals you in a jewellery ad? [design of the jewellery] 1 2 3 4 5 6 7 8 No response What appeals you in a jewellery ad? [theme of the ad] 1 2 3 4 5 6 7 8 No response

18 16 09 09 05 responses 60 14 17 09 07 05 10 21 02

responses

What appeals you in a jewellery ad? [quality] 1 2 3 4 5 6 7 8 No response

20 22 28 19 17 09 14 12 04 responses 51 19 16 12 06 04 11 25 01

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Shalini Padhi & Dr. Parag Ajagaonkar (Pg. 7411-7425) What appeals you in a jewellery ad? [Price) 1 2 3 4 5 6 7 8 No response What appeals you in a jewellery ad? [certificate of authenticity] 1 2 3 4 5 6 7 8 No response

responses

Jewellery ads on which media impacts you the most? [Radio] 1 2 3 4 5 6 Jewellery ads on which media impacts you the most? [T.V.] 1 2 3 4 5 6

responses 48 17 22 08 13 05 17 14 01

54 14 10 13 09 09 09 25 02

responses 24 24 22 19 14 42

responses 64 12 22 06 19 22

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Shalini Padhi & Dr. Parag Ajagaonkar (Pg. 7411-7425) Jewellery ads on which media impacts you the most? [Print] 1 2 3 4 5 6 Jewellery ads on which media impacts you the most? [Outdoor] 1 2 3 4 5 6 Jewellery ads on which media impacts you the most? [Social media] 1 2 3 4 5 6

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responses 24 38 37 17 17 12

responses 24 27 26 27 27 14 responses 30 34 23 25 20 13

Master Tables: Brand Joyalukkas Kalyan Jewellers Mia Nakshatra PNG Tanishq TBZ Gitanjali Kalamamdir

Recall when seen the most 01

Theme of ad 05

Celebrity Endorsement 03

Promotional offers and discounts 01

02 06 01 84 14 00 00

06 08 00 80 17 00 00

00 07 01 64 11 01 00

10 10 0 64 16 00 00

07 08 00 87 19 00 01

Designs 00

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Ratings for the appealing factor of advertisement Ratings 1 2 3 4 5 6 7 8 No Rating

Celebrity Endorsement 37 23 21 13 10 13 11 13

Brand Name 45 28 18 9 9 9 13 11

Promotional Jewellery Theme Certified Quality Price schemes designs of ad Authenticity 22 69 20 51 48 54 32 14 22 19 17 14 25 17 28 16 22 10 9 9 19 12 8 13 18 7 17 6 13 9 16 5 09 4 5 9 9 10 17 11 17 9 9 21 9 25 14 25 05

Ratings for the media that impacting the advertisement Ratings 1 2 3 4 5 6

Radio 24 24 22 19 14 42

Television 64 12 22 06 19 22

Print 24 38 37 17 17 12

outdoor 24 27 2 27 27 14

Social Media 30 34 23 25 20 13

Data Analysis& Interpretation ď‚ˇ

Objective: A) Brand wise comparison.

We have observed 145 persons observations and recorded their opinions for various jewellery brands like Tanishq, Kalyan Jewellers, Joyalukkas, etc. for various criterions.

Shalini Padhi & Dr. Parag Ajagaonkar (Pg. 7411-7425) Brand Joyalukas Kalyan Jewellers Mia Nakshatra PNG Tanishq TBZ Gitanjali Kalamamdir

Recall when seen the most 01

Theme of ad 05

Celebrity Endorsement 03

Promotional offers and discounts 01

02 06 01 84 14 00 00

06 08 00 80 17 00 00

00 07 01 64 11 01 00

10 10 0 64 16 00 00

07 08 00 87 19 00 01

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Designs 00

Here we can observe that Tanishq brand is having highest proportions than others in every aspect. Thesecond one is Kalyan Jewellers, as per total responses we can order the brands as follows Brand Name Tanishq Kalyan Jeweller TBZ Nakshatra Mia Joyalukkas PNG

Total Responses 379 187 77 39 25 10 2

Hence we can compare two brands as per their responses for various criterions like the most seen brand, theme of advertisement, celebrity endorsement, etc. For such comparison we used Proportion test (Z test for comparison between two proportions). As the same person is giving responses for brand for different reasons which we can take as criterions. A two proportion z-test allows you to compare two proportions to see if they are the same. Copyright ÂŠ 2017, Scholarly Research Journal for Interdisciplinary Studies

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ď‚ˇ

The null hypothesis (H0) for the test is that the proportions are the same.

ď‚ˇ

The alternate hypothesis (H1) is that the proportions are not the same. with the test statistics is as,

Heređ?‘ƒ1 đ?‘Žđ?‘›đ?‘‘ đ?‘ƒ2 are the proportions to be compare and đ?‘›1 đ?‘Žđ?‘›đ?‘‘ đ?‘›2 are the sample sizes. đ?‘ƒis combined proportion defined as đ?‘ƒ =

đ?‘› 1 đ?‘ƒ1 +đ?‘› 2 đ?‘? 2 đ?‘› 1 +đ?‘› 2

1) Comparison between Tanishq and Kalyan Jeweller Criterion

Most seen brand

Theme of Advertisement

Tanishq

84 out of 379 P1= 0.2216

0.21

Kalyan Jeweller

31 out of 187 P2= 0.16

0.165

Hypothesis Ho: both brand seen equally the most H1: both brands seen not equally Ho: both brandâ€™s theme is equally liked H1: both brandâ€™s theme is not equally liked Ho: both brandâ€™s theme is equally liked H1: one of brandâ€™s theme is liked the most

Test Statistics

Zvalue( at 5% level of significance)

Accept or Reject Ho

Z= 1.6806

1.96

Accept Ho

Z = 1.70

1.96

Accept Ho.

1.64

Reject Ho As per hypothesis this became one tailed test so we can interpret that the ad theme of Tanishq is

Z=1.70

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mostly liked by viewers

Celebrity Endorsement

Promotional Discounts

Design

0.168

0.23

0.2352

0.12

Ho: both brand’s celebrity endorsement is equally liked H1: both brand’s celebrity endorsement is not equally liked Ho: both brand’s Offers equal promotional offers H1: : one of the brand’s is offering more offers Ho: Both brands have equal liked designs H1: Both brands have not equal liked designs

Z =4.2680

Z = 1.89

Z = 3.1154

1.96

Reject Ho. The celebrity involved makes huge difference for jewellery brand

1.64

Reject Ho. As per proportions Kalyan Jeweller gives more promotional offer

1.96

Reject Ho Hence we can surely say that the designs by Tanishq is mostly liked by respondents

2) The comparison between Kalyan Jeweller and TBZ. Criterion

Designs

Kalyan Jeweller

0.12

TBZ

Hypothesis

Z table

0.25

Ho: Both brands designs are equally liked H1: one of them is

Z= 2.6188

1.64

Accept or Reject Ho Reject Ho Here the designs of TBZ is mostly liked compare to

Shalini Padhi & Dr. Parag Ajagaonkar (Pg. 7411-7425) liked most

Theme Of Advertisement

0.16

0.22

Ho: Both brands theme of ads are equally liked H1: one of the brands ad theme is mostly liked

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kalyan jeweller

Z=1.15

1.64

Accept Ho Here the ad theme of both the brand are liked equally

Interpretations: 

Tanishq, Kalyan jewellers and TBZ are mostly seen brands.



The Tanishq brand is mostly liked for theme of their advertisement them TBZ.



As per celebrity endorsement, Kalyan Jewellers is the mostly liked brand as we can observe the ambassador is the Amitabh Bachchan is involved.



As per above results Kalyan Jeweller is giving the most promotional and discount offers than any other



For Jewellery designs the huge response is for TBZ then Tanishq.



Objective: B) The ratings for most appealing criteria is for Jewellery design The observations for different ratings for different criteria are given bellow

Ratings 1 2 3 4 5 6 7 8 No Rating

Celebrity Endorsement 37 23 21 13 10 13 11 13

Brand Name 45 28 18 9 9 9 13 11

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Jewellery advertisements are mostly liked by viewers of any age and occupation as well as gender, as per the survey we have responses of 145 for different age, occupations and sex. They rated the ads as per various appealing reasons like theme of advertisement, particular brand, designs shown, promotional offers and many more. We considered ‘1’ is the best rating. The maximum responses we have got for 1. As we observe the highest 1 rating is for jewellery designs and Certified Authenticity. Hence, Ho: The best Rating given for Designs and Certified Authenticity is Equal H1: The best Rating given for Designs and Certified Authenticity is not Equal. Criterion

Designs

Certified Authenticity

Z table

Rating 1

0.1994

0.17

0.9965

1.96

Accept or Reject Ho Accept Ho

Interpretation: 

The best rating 1 is mostly for the designs and certified authenticity.



Mention of jewellery design and certification of authenticity has highest weightage in consumer evaluation of the advertisement.

Objective: C) Comparison between media used for advertisement. We come across the advertisement through different media like TV, Social media, etc. As per the survey conducted, we have rated such Media from 1 to 5 and said that 1 is the best rating. Ratings for the media that impacting the advertisement Ratings 1 2 3

Radio 24 24 22

Television 64 12 22

Print 24 38 37

outdoor 24 27 2

Social Media 30 34 23

Shalini Padhi & Dr. Parag Ajagaonkar (Pg. 7411-7425) 4 5 6

19 14 42

06 19 22

17 17 12

27 27 14

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25 20 13

Again the best rating got for Television and the second most best media rating got for Radio. 1) Comparison between TV and Radio Ho: TV and Radio is equally responsible for best rating on advertisement H1: TV is more effective media than Radio for rating Proportion for TV isđ?‘ƒ1 =

64 166

Proportion for Radio isđ?‘ƒ2 =

= 0.385 30 166

= 0.1807

Z calculated = 4.9667 Z table = 1.64 at 5% level of significance Reject H0 Hence TV is the more effective media than radio. 2) Comparison Between Radio and social media Ho: Radio and Social Media are equally responsible for best rating on advertisement H1: Radio is more effective media than Social media for rating Proportion forRadio isđ?‘ƒ1 =

30 166

Proportion for Radio isđ?‘ƒ2 =

= 0.1805

24 166

= 0.1445

Z calculated = 0.8937 Z table = 1.64 At 5% level of significance Accept H0 Hence Radio and Social Media is equally effective for ratings. Some IMP notes: ď‚ˇ

What is proportion test? We compare the proportion of selection by dividing total responses made by same person in to various groups. (E.g.: Like for the person may rate 1 for designs and rate 3 for other aspect.)

ď‚ˇ

Why proportion test? Data points should be independent from each other. In other words, one data point isnâ€™t related or doesnâ€™t affect another data point.Your data should be randomly selected from a population, where each item has an equal chance of being selected.

ď‚ˇ

WHY Proportion test by Z only?

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The observations which called as sample has more than 30 in number. So it is large sample otherwise we should use T test. Conclusion : A comprehensive analysis was done for determining the impact of jewellery advertisements on consumers in Mumbai city. In the light of the above analysis it can be concluded thatthe Jewellery retail sectors have to adopt some innovative and focused advertisement strategies which improvetheir awareness and sales. Jewellery retailers should focus on elements like design of the jewellery, celebrity endorsers and certification. Also right media should be chosen for emission of the message to their target audience. Suggestions/Recommendations 1. Giving attractive advertisement through the media like online, television, newspaper, radio, magazine. 2. Introducing more attractive sales promotion schemes to the customer to increase the sale of jewellery. 3. Emphasise on assurance to customers through certification of authenticity etc. 4. Introduce more attractive designs, latest fashion of gold/diamonds to the customer. References Mulky, A. G., Bose, S., Majumdar, A., Pundra, C.k. and Saritha (2015). Market entry strategy in platinum jewellery category. An IIMB Management Review Initiative. Rawal, K. R. (2015). A study of consumer buying behaviour for purchasing of diamond jewellery from branded retailers. Tactful Management Research Journal, 99-104. Dauriz, Linda, et al. “A Multifaceted Future: The Jewelry Industry in 2020.” McKinsey & Company, www.mckinsey.com/industries/retail/our-insights/a-multifaceted-future-the-jewelryindustry-in-2020. The Retailer’s Guide to Marketing Diamond Jewellery. www.bing.com/cr?IG=05B58101B39D4E0BB471EDD47822516B&CID=16DB8639EF266FB83A1 E8D8EEE896EE8&rd=1&h=TWsTwOGMv_W1WgNtTdAnSUZS3MJ5iEvzpViqDOIE KhM&v=1&r=http%3a%2f%2fwww.cibjo.org%2fdtc%2fcibjo_Main.pdf&p=DevEx,50 66.1.