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The reasons for a growing consumer preference for branded jewellery in India - Dissertation Example
Pages 24 (6024 words)
India has traditional relations with jewellery.Branded jewellery in India has established a niche for itself in the competitive Indian market.Branding is the procedure involved in making an exclusive picture and name for a product in the customers mind,generally in the course of advertising campaigns by way of a reliable and consistent theme…
India has traditional relations with jewellery. Branded jewellery in India has established a niche for itself in the competitive Indian market. Branding is the procedure involved in making an exclusive picture and name for a product in the customers mind, generally in the course of advertising campaigns by way of a reliable and consistent theme. Significantly, the younger generation has more disposable earnings these days and they are ready to expend it on luxuries of preference. The younger citizens in their mid thirties and their seniors are normally prepared to buy branded jewellery. The aim of branding is to establish a differentiated and considerable presence in the marketplace so that it can retain and attract faithful and loyal customers. Branding is also a technique in establishing a significant business asset, which is nothing but an excellent reputation. The gems & jewellery business is one of the fastest growing businesses in the country with a market share of $13 billion in 2011 and is estimated to grow to $20 billion by 2015. In 2008-09 the business was $17.1 billion in opposition to $16.64 in 2005-06 billion, reflecting a growth of 26%. The picture of Indian ladies, wearing a sari and various types of ethnic jewellery in festival season and wedding, is no longer the sole customer profile of the world’s major gold importing state. Indian ladies around the world are turning out to be more emancipated: conveying a way of life that combines the strong values and traditions of their society and their modern worldwide approach to life, job and spending ...
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