Project Report - Marketing

8/8/2019 Project Report - Marketing

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A STUDY ON CUSTOMER SATISFACTION WITH REFERENCE TO

PRINCE GEM AND JEWELRY PRIVATE LIMITED

CHENNAI

By

A SUMMER PROJECT REPORT


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ACKNOWLEDGEMENT

I take this opportunity to express my sincere thanks to DR.C.V.JAYAKUMAR,

Principal and DR. K. MARAN, Head of the Department of Master of Business

Administration, SRI SAI RAM INSTITUTE OF MANAGEMENT STUDIES, SRI SAI

RAM ENGINEERING COLLEGE, West Tambaram, Chennai for his constant

encouragement and support.

I would like to express my special thanks and gratitude to Mr. Natarajan, Faculty

guide for the invaluable support and guidance.

I extend my heartfelt gratitude and appreciation to Mr. K.K.Suresh, General

Manager, Prince Jewellery, Chennai, who gave me an opportunity to gain an insight about the

customer satisfaction.

(K.P.PREETHI)


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ABSTRACT

This Project is on the title A study on customer satisfaction has been carried out for Prince Gem and

jewellery Pvt Ltd. The primary objective is to determine the Customers level of satisfaction of the

products and services offered by Prince Gem and jewellery Pvt ltd. The secondary objective is to

evaluate the reasons behind the dissatisfaction regarding the products and services of prince and also

to identify the customer expectations towards the products and services.

This study typically involves a process determining the level of customer satisfaction through a

survey conducted among the customers of prince jewellery. Customers satisfaction rate and

preferences were identified using a questionnaire and Chi-square tests were applied to find whether

there is any dependency between identified variables. Percentage analyses were used in making

comparison between two or more series of data.

Finally, it has been inferred that majority of the customers of prince jewellery are satisfied with the

products of prince jewellery and hence suggestions have been given from the findings of this study for

improving the growth and effectiveness of customer satisfaction to attain full percent customer

satisfaction.


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TABLE OF CONTENTS

Chapter No. Title Page No

List of tables

List of charts

1 INTRODUCTION

1.1 Industry profile

1.2 Company Profile

1.3 Review of literature

1.4 Objective of the study

1.5 Scope of the study

1.6 Need for the study

2 RESEARCH METHODOLOGY

2.1 Methodological design

2.2 Type of research design used

2.3 Data Collection

2.4 Pilot survey

2.5 Sampling technique and sample size

2.6 Limitations of the study

3 DATA ANALYSIS AND INTERPRETATION

3.1 Percentage Analysis

3.2 Chi square test

4 FINDINGS AND SUGGESTIONS

4.1 Findings

4.2 Suggestions

4.3 Conclusion

Appendix

Bibliography

List of Table


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Table No Title Page No

Sex wise classification of respondents

Different income group of respondents

Marital status of the respondents

Different age group of the respondents

Product wise classification of respondents

Awareness of respondents about products other than gold

Classification based on amount of gold owned

Satisfaction on making charges

Advertisement of Prince gold

Factors influencing purchase

Satisfaction with showroom facility

Rating of designs available

Response on complaints registered

Salesman responsiveness

Rating on service facility

Rating on overall service

Level of Satisfaction

Insist to well wishers

List of Charts

Table No Title Page No

Sex wise classification of respondents


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Different income group of respondents

Marital status of the respondents

Different age group of the respondents


Awareness of respondents about products other than gold



Advertisement of Prince gold

Factors influencing purchase

Satisfaction with showroom facility

Rating of designs available

Response on complaints registered

Salesman responsiveness

Rating on service facility

Rating on overall service

Level of Satisfaction

Insist to well wishers


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CHAPTER I

INTRODUCTION

1.1 INDUSTRY PROFILE:


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Gold has long been considered the most desirable of precious metals, and its value has

been used as the standard for many currencies in history. Gold has been used as a symbol for

purity, value, royalty. One of the salient features about the gold is that a single gram of weight is

not at all wasted since its exploration. It has been rounding in different hands in one or the other

way.

The gold has its existence since from 2600BC. A huge description is available in the Egyptian

Hieroglyphs. It may be the first metal used by humans and was valued for ornamentation and

rituals. Important locations famous in the name of gold are Red sea in Saudi Arabia, Lydia,

and Romania, Las medullas, in Spain, Rosia Montana in Transylvania, Central America, Peru and

Columbia.

Today, gold has emerged as an important mean for investments also. Volatile markets and

unstable economic conditions have also added to it. China is largest producer followed by South

Africa. But India is the largest consumer of gold, where it is largely used for jewellery together

with investment. Indias diversified religious customs and rituals have helped to the high demand

for gold.

In various countries, gold is used as a standard for monetary exchange, in coinage and in jewelry.

Pure gold is too soft for ordinary use and is typically hardened by alloying with copper or other

base metals. The gold content of gold alloys is measured in carats (k), pure gold being designated

as 24k.

1.1.1 Production

Since the 1880s, South Africa has been the source for a large proportion of the worlds

gold supply, with about 50% of all gold ever produced having come from South Africa.

Production in 1970 accounted for 79% of the world supply, producing about 1,000 tones.

However by 2007 production was just 272 tones. This sharp decline was due to theincreasing difficulty of extraction, changing economic factors affecting the industry, and

tightened safety auditing. In 2007 China (with 276 tones) overtook South Africa as the

world's largest gold producer, the first time since 1905 that South Africa has not been the

largest.

Other major producers are United States, Australia, China, Russia and Peru. Mines in

South Dakota and Nevada supply two-thirds of gold used in the United States. In South

America, the controversial project Pascua Lama aims at exploitation of rich fields in the


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high mountains of Atacama Desert, at the border between Chile and Argentina. Today

about one-quarter of the world gold output is estimated to originate from artisanal or

small scale mining.

After initial production, gold is often subsequently refined industrially by the Wohlwill

process or the Miller process. Other methods of assaying and purifying smaller amounts

of gold include parting and inquartation as well as cupellation, or refining methods based

on the dissolution of gold in aqua regia.

The world's oceans hold a vast amount of gold, but in very low concentrations (perhaps

12 parts per 10 billion).

1.1.2 Price

Like other precious metals, gold is measured by troy weight and by grams. When it is alloyed

with other metals the term carat or karat is used to indicate the amount of gold present, with 24

karats being pure gold and lower ratings proportionally less. The purity of a gold bar can also be

expressed as a decimal figure ranging from 0 to 1, known as the millesimal fineness, such as

0.995 being very pure.

The price of gold is determined on the open market, but a procedure known as the Gold Fixing in

London, originating in September 1919, provides a daily benchmark figure to the industry. The

afternoon fixing appeared in 1968 to fix a price when US markets are open.

1.1.3 Current supply and demand statistics of gold

At US$21.2bn, global dollar demand for gold reached new heights in the second quarter of 2008,

rising 9% on year earlier levels. Global investment demand for gold showed the strongest surge,

reaching $3.5 billion in Q2 2008, 29% higher than Q2 2007, with particular strength in the US,China, Egypt and Vietnam.

Despite a number of markets turning to gold due to its investment attributes as a safe haven in

times of rising inflation and unstable equity markets, identifiable global investment demand in

tonnage terms was down by 4% over Q2 2007 to 119.8, as some investors took profits.

This decline represents a 9% decrease in net retail investment, which was partly offset by a move

to positive net investment in Exchange Traded Funds (ETFs) and similar products.


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1.1.4 Indian gems jewellery industry

The exports of gems and jewelry registered an upbeat growth of percent in dollar terms during

April-September 2007-2008. In 2007-2008 the exports of this sector increased by 16.8% and

crossed a level of US$10.5. This is a particularly interesting industry from an Indian stand point,

since it involves imported raw materials, domestic value added and global markets and provides

skilled employment. Indian gems firms are tightly integrated into global production chains. In

order to give a boost to exports of gems and jewelry, Government took major policy initiative

during the same year.

1.1.5 Overview of gold industry in India

India is the largest consumer of gold in the world followed by China and Japan.

India dominates the worlds cut and polished diamonds (CPD) market. In value terms, the

country accounts for approximately 55% of global polished diamond market and nearly 9% of

the jewelry market.

Surat contributes 90% of Indias total diamond exports.

Indias domestics branded jewelry market is estimated at Rs 600-700 crores.

There are 13 bullion importing bank in India.

Indias gem and Jewelry Exports Promotion Council (GJEPC) is aiming at turning India into an

international diamond trading centre.

Since India is already enjoying 80-85% of the world CPD market, scope for further growth in

diamond exports is limited. Hence, if Indias gems and jewelry sector is to substantially

increase exports, the best lies in the jeweler sub sector.

Indias imports an average of 18000 bars a day, about 70% of the total demand and the balance

is being sourced to indigenous output and metal recycled from old jewelries.

The main reason why India has not made a dent in jeweler exports market is theexistence of government restrictions in their domestic jewelry industry in the pre-economic

liberalization era. If the gold jewelry exports are to be encouraged, it would be necessary to allow

bulk imports of gold which would have to be converted to jewelry and then exported.

1.1 COMPANY PROFILE


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1.1.1 About Prince :

Prince Gem & Jewelry is one of South India's most contemporary jewelers, specializing

fashionable ornaments ranging from gold, diamond, rubies, emeralds, silver, platinum jewelry and

colored gold.

With the distinction of being the trend-setters in jewelry design, Prince Jewelry has an exquisite

jewelry collection in wedding, lightweight, designer and work wear for women.

Comprises 5 spacious showrooms - in Panagal Park, Cathedral Road, Spencers Plaza, Jayanagar

at Chennai, 3rd block at Bangalore and East fort at Trivandrum.

Renowned for their custom-made jewelry, with a focus on designs for 'career women', they also

provide opportunities for young, enterprising designers and train students of the National Institute

of Fashion Technology, in jewelry design

Prince Jewelry was the first to launch a lightweight jewelry collection in addition to jewelry for

working women.

To facilitate the accessibility Prince Jewelry has a variety of schemes - the Prince Gold Plus

savings scheme and diamond jewelry savings scheme, which offers the option of buying

contemporary jewelry in easy installment schemes.

1.1.2 Special Features of Prince jewellery:

Exclusive showroom for 100% BIS hallmarked 916 gold collections.

A vast array of modern designer collections from India, Singapore, Europe, Middle

East etc.

Pure value for money guaranteed while buying and selling.

Lifelong guarantee and free maintenance for gold ornaments.

German made gold check carat analyzer to check the purity of gold while buying and

selling gold.

Exclusive collections of MG diamonds.

IGI certificate of authenticity and buy back guarantee for diamond ornaments.


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Special counter for world class branded watches like Omega, Rado, Mont Blanc,

Seiko, Foce, Tissot, Espirit, Continental, Police, Tag Heuer, Caterpillar, D4 swiss,

Accurate and Citizen.

2 years international warranty and after sale service for Swiss made watches.

International Gemological Institutes certificate for diamond ornaments.

PGI certificate for platinum ornaments.

Availability of well trained professional sales executives.

Certain percentage of profit is reserved for charity.

1.1.3 Details of Prince Gem and Jewellery collections:

The exclusive collections of Malabar Gold include:

World class designer jewelry from Italy, Turkey, Korea, Bahrain and Singapore.

Traditional ornaments from Karnataka and Kerala.

Royal Mughal collections Karachi bangles.

Calcutta collections.

Rajkot collections.

Zara collections.

Antique collections.

Hansa collections.

Bombay and Bombay special collections.

Signity studded jewelry.

Daily wear bangles and chains.

Formal or work wear jewelry.

Navrathna, birthstones, lucky stones studded with gold.

Platinum ornaments with 950 Purity Assurance Card.

Varied collections of their own brand diamond collection called MG diamonds.


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1.3 Review of Literature:

Society is a diversified in all aspects. We see this among consumers, marketers, producers and

even among consumer behaviour from theoretical aspects.

The study of consumer behaviour enables marketer to predict consumer behaviour in the market;

it also produces understanding of the role that consumption has in the lives of individuals.

Consumer behaviour 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 o f consumer behaviour 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 consumers. Consumer

research takes place at every phase of the consumption process; before the purchase, during the

purchase and after purchases.

Consumer behavior 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 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.

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.

Consumer behaviour 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, socialpsychology, cultural anthropology and economics. Consumer research is the methodology used to

study consumer behaviour.


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The study of consumer behaviour is the study of ho 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.

Consumer behaviour is a relatively new field of study emerged in late 1960s with no history orbody of research of its own unlike branches of economics. Many early theories concerning

consumer behaviour were based on economic theory on the notion that individuals act to

maximize their benefits in the purchase of goods and services.

There are number of reasons why the study of consumer behaviour 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.

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 ones

new purchase


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1.4 Objective of the study

1.4.1 Primary Objective

To determine the Customers level of satisfaction of the products and services

offered by prince gem and jewellery Pvt ltd

1.4.2 Secondary Objective

To evaluate the reasons behind the dissatisfaction experienced by the customers of

prince regarding the products and services offered.

To analyze the customer expectations of the prince customers towards the products

and services offered.


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1.6 NEED FOR THE STUDY:

In todays scenario the customers are provided with variety of choices to choose their

gold products from and hence the customer evaluates the jewellery outlets in various aspects

before going into a purchase decisions. Hence it becomes very essential that the outlets should

be cautious about the level of customer satisfaction they hold.

A study on customer satisfaction gives the management an indication of general level ofsatisfaction among the customers. A measurement provides the opportunity for performance

feedback, which supports the prevention or correction of problems during the performance

measurement process.

The reasons for the customers dissatisfaction could be identified and improved thereafter as a

result of determination of customer satisfaction measurement.

So the study was made for knowing the performance level of the prince jewellery in offering

the products to the customers and also the service pertained to the products offered.


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CHAPTER II

RESEARCH

METHODOLOGY


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2.1 METHODOLOGICAL DESIGN:

Research is an art of scientific investigation. The advanced learners dictionaries of current

English lay are down the meaning of research as, a careful investigation (or) inquiry especiallythrough search for new facts in any branch of knowledge. Redman and Mary define research as a

systematic effort to gain knowledge.

Research is a process in which the researcher wishers to find out the end result for a given

problem and thus the solution helps in future course of action.

According to Clifford woody research comprises defining and redefining problems,

formulating hypothesis. Collecting, organizing and evaluating data; making deductions and reaching

conclusions and at last carefully testing the conclusion to determine whether they fit the formulating

hypothesis.

Research design is the specification of methods and procedure for acquiring the information

needed to structure or to solve problems.

Research design can be basically of three types:

1. Exploratory Research

2. Descriptive Research

3. Experimental Research

Exploratory Research design

It seeks to discover new relationships. They are drawn from ideas developed in the

previous research studies are drawn from theory.

Descriptive Research Design

Descriptive research studies are those studies, which are concerned with describing of

a particular individual or of a group; it helps executives to choose among the several of actions.

A Descriptive study attempts to obtain a complete and accurate description of a situation. The studies

concerning with specific predictions, with narration of facts and characteristics concerning individual,

group or situation are example of descriptive research studies. Most of the social research comes

under this category.


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Experimental Research Design:

Experimental design is concerned with studying the cause and effect relationship between the

variables present in the study. The cause and effects are studied in laboratory or in the field.

2.2 TYPES OF RESEARCH DESIGN USED:

Out of the research design mentioned above, the research design used in this study is

the Descriptive research Design. The reason for using research design is that the purpose of

this project is to know and describe the customer satisfaction pertained to the prince

jewellery, Chennai.

Descriptive research includes surveys and fact findings enquiries of various kinds.

The major purpose if descriptive research is to describe the state of affairs as is exists. The

main characteristic of this method is that the researcher has no control over the variables. He

could only report what has happened or what is happening.

2.3 DATA COLLECTION:

In this study, the required data for this project work has been collected from two

resources. They are Primary data and secondary data.

Primary data:

It refers to the first hand information collected by the researcher, specific to the research

problem. It includes using different primary data collection tools such as personal interview using

questionnaires, telephone surveys, mail surveys etc.

For the present study, primary data was collected by survey method using questionnaires.

Secondary data:

It is the information that already exists for another purpose. This refers to all those data which

are collected for some earlier research work. The secondary data for this work was obtained form

company profile, company magazines, website, newspapers, internet, text books, reports and form

company brochures and other promotional materials.


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2.4 QUESTIONNAIRE

In order to collect the primary data, a questionnaire was framed and used as the research

instrument and the questions were arranged in a logical manner.

The questionnaire was designed comprising of the following types of question.

Closed Questions

Dichotomous Questions

Multiple Choice Questions

2.5 PILOT SURVEY

A Pilot survey with 40 samples was conducted for testing the validity of the questions. It was

found that there was no need for changes in the questionnaire and hence the same

questionnaire was used for the final survey also.

2.6 SAMPLING TECHNIQUE AND SAMPLE SIZE:

Primary data were collected by floating questionnaire to various individual suppliers. In order

to select samples, stratified sampling method was adopted. Stratification is the process of grouping

members of the population into relatively homogenous subgroups before sampling. The strata should

be mutually exclusive: every element in the population must be assigned to only one stratum. The

strata should be collectively exhaustive: no population element can be excluded. This often improves

the representatives of the sample by reducing sampling errors.

The Simple random sampling was adopted and the sample size was taken as 100.


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2.7 SAMPLING TECHNIQUE:

The sampling units are chosen on the basis of convenience to the researcher is known as

convenience sampling.

STATISTICAL TOOL:

Percentage analysis

Chi square test

SAMPLING UNIT:

People those who are prince jewellery customers.

2.8 LIMITATIONS OF THE STUDY:

Any research study will be restricted in scope of certain inherent limitations that are

participated by the choice of the research design, sampling procedure and respondent selection.

The duration given for the project work was not sufficient

The data obtained in some cases may be biased.

Difficulty in communication within the showroom while conducting the survey.

The information obtained from the consumers based on questionnaires was assumed

to be factual.

Since the survey is based on sampling method, it does not disclose the character of

the entire customers.


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CHAPTER III

DATA ANALYSIS

&

INTERPRETATION


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Male: 10%

Female: 90%

DATA ANALYSIS AND INTERPRETAION:

3.1 PERCENTAGE ANALYSIS

Table no 3.1. Sex wise classification of respondents

Category No. of Respondents Percentage

Male 5 10%

Female 45 90%

Total 50 100%

Inferences:

From the above table, it is inferred that

Majority of the respondents (90 %) were female and the rest (10%) were

male.

Chart No. 3.1 Sex wise classification of respondents

Table No. 3.2


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Income group Classification of the Respondents

Income Group (in Rs) No. of respondents Percentage

Below 20000 15 15%

20000-40000 15 15%

40000-60000 30 30%

Above 60000 40 40%

TOTAL 100 100%

Inferences:

From the above table, it is inferred that,

Most of the respondents (40%) were in the income group above Rs. 60000 p.a,

30% belongs to the income group 40000-60000 p.a, 15% belongs to the income

group 20000-40000 p.a, 15% belongs to the income group Below 20000 p.a.

Chart No. 3.2

Income group Classification of the Respondents

15%

15%

30%

40% below 20000.20000-40000

40000-60000

Above 60000

Table No. 3.3

Marital Status of the Customers


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Status No. of Respondents Percentage

Unmarried 25 25%

Married 75 75%

Total 100 100%

Inferences:


Majority of the respondents (75%) were married and the rest (25%)

were unmarried.

Chart No. 3.3 Marital status of the customers

25%

75%

Unmarried

Married

Table No. 3.4

Different Age groups of the respondents

Age No. of Respondents Percentage


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Below 18 16 16%

18-28 44 44%

29-38 28 28%

Above 38 12 12%

Total 100 100%

Inferences:


Most of the respondents (44%) respondents belongs to the age group

below 18-28

16% respondents belongs to the age group below 18

28% respondents belongs to the age group below 29-38

12% respondents belongs to the age group above 38

Chart No. 3.4

Age Classification of Customers

16%

44%

28%

12%

Below 18

18-28

29-38

Above 38

Table No. 3.5

Awareness towards the products available



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Wedding 52 52%

Light weight 22 22%

Designer 21 21%

Workwear 3 3%

Total 100 100%

Inferences:


Most of the respondents (52%) are aware of the wedding collections

22% respondents are aware of the Light weight collections

21% respondents are aware of the Designer collections

3% respondents are aware of the Workwear collections

Chart no 3.5

Awareness towards the products available

52%

22%

21%3%

Awareness

Wedding

light weight

Designer

Workwear

Table No. 3.6



Gold 61 61%


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Diamond 21 21%

Silver 0 0%

Platinum 18 18%

Total 100 100%

Inferences:


Majority of the respondents ( 61%) prefer buying gold

21% respondents prefer buying diamond

18% respondents prefer buying platinum

Chart 3.6

Product wise classifications of respondents

Table 3.7


Amount of gold (in sovereigns) No. of respondents Percentage

Below 50 60 60%

50-100 38 38%

100-150 2 2%


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Above 150 0 0%

TOTAL 100 100%

Inferences:


Majority of the respondents (60%) own below 50 sovereigns.

38% respondents own 50-100 sovereigns.

2% respondents own 100-150 sovereigns.

Table 3.8



Yes 41 41%

No 59 59%

Total 100 100%


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Inferences:


Most of the respondents (59%) are not satisfied with the making

charges

41 % respondents are satisfied with the making charges

Chart 3.8


59%

41%

DisSatisfi

satisfied

Table 3.9

Showing the media through which the customers came to know about

prince

Media No. of respondents Percentage

Newspaper 20 20%

Television 40 40%


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Yellow pages 10 10%

Word of mouth 30 30%

TOTAL 100 100%

Inferences:


20% respondents came to know about prince through newspapers

40% respondents came to know about prince through television

10% respondents came to know about prince through yellow pages

30% respondents came to know about prince through word of mouth

Chart 3.9

Showing the media through which the customers came to know

about prince

13%

17%

57%

13%

Newspaper

television

yellow pages

word of mou

Table 3.10

Factors influencing the purchase of prince gold

Factors No. of respondents Percentage

Company image 22 22%

Quality 28 28%

Advertisement 24 24%


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Collections 26 26%

TOTAL 100 100%

Inferences:


22% respondents are influenced by the company image

28% respondents are influenced by the quality

24% respondents are influenced by the advertisements

26% respondents are influenced by the collections

Chart 3.10

Factors influencing the purchase of prince gold

22%

28%24%

26%

Company ima

quality

Advertiseme

Collections

Table 3.11

Showing the no. of customers satisfied with showroom facility.


Yes 86 86%

No 14 14%


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Total 100 100%

Inferences:


Majority of the respondents(86%) are satisfied

14% of the respondents are dissatisfied

Chart 3.11

Chart showing the no. of customers satisfied with showroom facility.

14%

86%

DisSatisfisatisfied

Table 3.12

Customers ratings on design of the ornaments available

Rating No. of respondents Percentage

Excellent 12 12%

Good 58 58%

Average 30 30%


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Poor 0 0%

TOTAL 100 100%

Inferences:


Most of the respondents (58%) rated as good

12% respondents have rated as excellent

30% respondents have rated as average

Chart 3.12

Customers ratings on design of the ornaments available

12

58%

30%

0%

Excelle

Good

Avera

Poor

Table 3.13

Showing the no. of customers who got immediate response on complaints registered.


Yes 92 92%

No 8 8%

Total 100 100%


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Inferences:


Majority of the respondents (92%) are satisfied

8% respondents are dissatisfied

Chart 3.13

Showing the no. of customers who got immediate response on complaints registered.

14%

86%

DisSatisfi

satisfied

Table No 3.14

Showing the customers rating on the salesman relationship.


Excellent 10 10%

Good 46 46%

Average 44 44%

Poor 0 0%

TOTAL 100 100%


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Inferences:


10% respondents rates as excellent.

46% respondents rates as good.

44% respondents rates as average.

Chart No 3.14

Table No 3.15

Service Facility rating


Excellent 12 12%

Good 48 48%

Average 40 40%

Poor 0 0%

TOTAL 100 100%

Excellent, 10%

Good, 46%

Average, 44%

poor, 0%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Rating

%


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Inferences:


12% of the respondents rated as excellent.

48% of the respondents rated as good.

40% of the respondents rated as average.

Chart No 3.15

Rating on service facility.

Excellent, 12%

Good, 48%

Average, 40%

po

10%

20%

30%

40%

50%

60%

Rating

Pe

rcentage

Table No 3.16

Showing the customers rating on overall service with respect to other jewellery in town.


Excellent 14 14%

Good 48 48%

Average 0 0%

Poor 38 38%

TOTAL 100 100%

Chart No 3.16


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Rating on overall service.

Inferences:


14% of the respondents rated as excellent.

24% of the respondents rated as good.

38% of the respondents rated as poor.

Table No 3.17

Showing the customers rating on their level of satisfaction.


Excellent 12 12%

Good 52 52%

Average 0 0%

Poor 36 36%

TOTAL 100 100%

Inferences:


Most of the respondents (52 %) rated as good.

12 % of the respondents rated as excellent.

Excellent, 14%

Good, 48%

Poor 38%

Average 0%0%

10%

20%

30%

40%

50%

60%

Rating

Percen

tag

e


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36 % of the respondents rated as poor.

Chart No 3.17

Showing the customers rating on their level of satisfaction.

Table No 3.18

Respondents response in spreading word of mouth

Status No. of respondents Percentage

Yes 66 66%

No 0 0%

No answer 34 34%

TOTAL 100 100%

Chart No 3.18

Respondents response in spreading word of mouth

Excellent, 12%

Good, 52%

Poor, 36%

Average, 0%

0%

10%

20%

30%

40%

50%

60%

RatingP

ercen

tage


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Inferences:


Most of the respondents(66%) reported that they will insist their well wishers to buy from

Prince

34 % of the respondents reported that they will not insist their well wishers to buy from

prince

Chi- Square Test

Test of dependency between customer service and the overall satisfaction

Hypothesis:

Null Hypothesis H0 : There is no relationship between customer service and the overall satisfaction

rate of the customers

Alternate Hypothesis H1:There is a relationship between customer service and the overall

satisfaction rate of the customers

Case Processing Summary

Yes, 66%

No, 34%

No answer, 0%

0%

10%

20%

30%

40%

50%

60%

70%

Status

Percen

tag

e


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Cases

Valid Missing Total

N Percent N Percent N Percent

satisfaction pertainedto services offered *Level of satisfaction 100 97.6% 1 2.4% 100 100.0%

Chi-Square Tests

Value df Asymp. Sig.

(2-sided)

Pearson Chi-Square 45.357(a) 4 .608

Likelihood Ratio 1.676 4 .433Linear-by-LinearAssociation

.004 1 .950

N of Valid Cases

100

a 18 cells (66.7%) have expected count less than 5. The minimum expected count is .20.

Inference:

Since the significance level is less than 5%, The HO is rejected.

There exist a significant relationship between the customer service and the overall satisfaction rate of

the customers

Test of dependency between Collections available and overall customer satisfaction

Hypothesis:

Null Hypothesis H0: There is no relationship between the collections available and the overall

satisfaction rate of the customers.

Alternate Hypothesis H1: There is a relationship between the collections available and the overall

satisfaction rate of the customers.

Case Processing Summary

Cases

Valid Missing Total


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N Percent N Percent N Percent

satisfaction pertainedto services offered *Level of satisfaction 100 97.6% 1 2.4% 100 100.0%

Chi-Square Tests

Value df Asymp. Sig.

(2-sided)

Pearson Chi-Square 45.357(a) 4 .608

Likelihood Ratio 1.676 4 .433Linear-by-LinearAssociation

.004 1 .950

N of Valid Cases100

a 18 cells (66.7%) have expected count less than 5. The minimum expected count is .20.

Inference:

Since the significance level is less than 5%, The HO is rejected.

There exist a significant relationship between the collections available and the overall satisfaction rate

of the customers.

CHAPTER IV


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FINDINGS &

SUGGESTIONS

4.1 Findings

36% of the customers have reported that they are dissatisfied with the performance of the

prince jewellery in terms of products and service they offer.

34% of the customers have reported that they would not suggest their friends and relatives to

buy gold from prince jewellery.

38% of the customers have reported that they are dissatisfied with the service they offer when

compared to other jewellery outlets.


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75 % of the employees are satisfied with the salesman relationship in displaying the products

to the customers.

14% of the customers have reported that the complaints are not met.

30% of the customers have stated that they are not satisfied with the design of the ornaments

available.

14% have stated that they are not satisfied with the showroom display or facilities available in

the prince jewellery, T.Nagar branch

Company image 24%, quality 26%, advertisements 25%, collections 25% have equally

influenced the purchase of prince products

43% of the customers have stated that they came to know about the prince jewellery through

advertisements

59% of the customers have stated that they are disappointed with the making charges

60% of the customers belong to the upper middle class

61% of the customers prefer to buy gold from the prince gem and jewellery.

3% of the customers alone are aware of the availability of work wear in prince jewellery

44% of the customers belong to the age group between18 28.

75% of the customers are married.

90% of the customers are female.

4.2 Suggestions:

Making/ Wastage charges could be lesser down in order to attain customers satisfaction.

Parking facility could be necessarily improvised.

Collections on Platinum and diamond could be increased to attain customers satisfaction.

Cash counter could be added with employees for speed billing and delivery system.


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Gold-Diamond saving schemes could be revealed/Insisted more to the customers.

Measures could be taken to resolve the complaints posted by the customers, to attain 100%

satisfaction.

Prince could focus of mens designer jewellery to increase its sales.

Lower income group of customers could also be targeted to increase the sales.

Light weight jewelry, Work wear, designer sections could be focused to increase the sales.

Workwear collections could be advertised more to attract more customers

Salesman relationship could be improved in displaying the products to the customers in order

to create a happy and satisfying shopping

4.3 Conclusion

The dissatisfaction prevailing among the customers are lesser when compared to that of the

satisfaction rate. The jewelry can work on more tactics and strategy pertained to specific areas

to attain the highest level of customer satisfaction and make new customers.


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The overall responses of the customers of prince jewelry are just satisfactory.

Hence the management should take necessary steps to improve or exceed the satisfaction

level among the customers in order to retain the customers in this competitive world. The

study was extremely informative to me while doing the project. Various new aspects of theindustry was known to me such as customers interaction, industry profile, organizational

structure, flexibility and also various features of an market.

To be concluded that the project would be very useful to the management and suggestions

made can be considered by the company to grow further in the future ahead.

Appendix Questionnaire

Sir/Madam

Let me introduce myself as KP Preethi. I am doing MBA in Sri Sairam College of

Engineering, Chennai. As a part of my curriculum, I am doing a research project titled A study on

Customer satisfaction. I will be grateful to you if you would spare your valuable time to help me tocomplete my project by answering the following questions. Your responses will be kept confidential.


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Thanking You

Preethi KP

1. Name: Sex: M/F

2. Age :

o Below 18

o 19 - 28

o 29 - 38

o Above 38

3. Marrital Status :

o Married

o Unmarried

4. Income group (Rs /Month): Below 20000 [ ]

20000-40000 [ ]

40000-60000 [ ]

Above 60000 [ ]

5. Quantity Of gold you own in sovereigns

o Below 50

o 50-100

o 100-150

o Above 150


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6. What products you usually buy from prince jewelry?

o Gold

o Diamonds

o Silver

o Platinum

7. Collections that attract you the most available in the prince jewelry.

Wedding

Lightweight

Designer

Work wear

None of the above

8. How would you rate the collections available in Prince Compared to other jewelry shops?

o Excellent

o Good

o Average

o Bad

o Poor

9. Rate the showroom facility organized inside the showroom. ( Space/Staffs)

o Excellent

o Good

o Average

o Bad


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o Poor

10. Rate the Attitude of the staffs in the showroom (Organizing, displaying, Guiding )

o Excellent

o Good

o Average

o Bad

o Poor

11. Rate the process of cash/Cards organized in the cash counter.

o Excellent

o Good

o Average

o Bad

o Poor

12. Are you satisfied with the parking facilities? Yes/ No

13. How would you rate the responsiveness to the complaints posted?

o Excellent

o Good

o Average

o Bad

o Poor


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14. Are you satisfied with the making charges of Prince? Yes, no

15. Are you in any Gold Diamond saving schemes available in price? Yes, no

16. What is your opinion about the quality of the gold available in the Prince?

o Excellent

o Good

o Average

o Bad

o Poor

17. Are you satisfied with the packages pertained to the ornaments purchased from prince? ( Bags/

Boxes/ Compliments )

Yes / no

18. Rate the Overall level of Satisfaction of the products and services rendered by the prince gem

and jewelry Pvt Ltd.

o

Excellent

o Good

o Average

o Bad

o Poor


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BIBLIOGRAPHY

REFERENCE

Donald R Cooper and Pamela Schindler, Business Research Methods,

published by TATA McGraw Hill. Twelfth edition.

C.R.Kothari, Research Methodology, 1990, Wiley Eastern Ltd; New AgeInternational Ltd.

Philip Kotler and Kevin Lane Keller, Marketing Management, published byPrentice Hall of India Pvt Ltd.13 th edition.

V.S.Ramaswamy and S.Namakumari, Marketing Management, published byMacmillan Publishers India Ltd. Fourth Edition.

From the broachers, catalogs and the records of the Prince Jewellery

WEBSITES:

www.googlescholar.com

www.princejewellery.com
http://www.googlescholar.com/http://www.princejewellery.com/http://www.googlescholar.com/http://www.princejewellery.com/


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Documents

Project Report - Marketing