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INTRODUCTION TO BRANDING

BRAND:
A brand is a product, service, or concept that is publicly distinguished from other products,
services, or concepts so that it can be easily communicated and usually marketed. A brand name
is the name of the distinctive product, service, or concept. Branding is the process of creating and
disseminating the brand name. Branding can be applied to the entire corporate identity as well as
to individual product and service names.

BRAND EQUITY:
Brand equity is a phrase used in the marketing industry which describes the value of having a
well-known brand name, based on the idea that the owner of a well-known brand name can
generate more money from products with that brand name than from products with a less wellknown name, as consumers believe that a product with a well-known name is better than
products with less well-known names.
Brand equity refers to the value of a brand. In the research literature, brand equity has been
studied from two different perspectives: cognitive psychology and information economics.
According to cognitive psychology, brand equity lies in consumers awareness of brand features
and associations, which drive attribute perceptions. According to information economics, a
strong brand name works as a credible signal of product quality for imperfectly informed buyers
and generates price premiums as a form of return to branding investments. It has been
empirically demonstrated that brand equity plays an important role in the determination of price
structure and, in particular, firms are able to charge price premiums that derive from brand equity
after controlling for observed product differentiation.
Some marketing researchers have concluded that brands are one of the most valuable assets a
company has, as brand equity is one of the factors which can increase the financial value of a
brand to the brand owner, although not the only one. Elements that can be included in the
valuation of brand equity include: changing market share, profit margins, consumer recognition
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of logos and other visual elements, brand language associations made by consumers, consumers'
perceptions of quality and other relevant brand values.
While most brand equity research has taken place in consumer markets, the concept of brand
equity is also important for understanding competitive dynamics and price structures of businessto-business markets. In industrial markets competition is often based on differences in product
performance. It has been suggested however that firms may charge premiums that cannot be
solely explained in terms of technological superiority and performance-related advantages. Such
price premiums reflect the brand equity of reputable manufacturers.
Brand equity is strategically crucial, but famously difficult to quantify. Many experts have
developed tools to analyze this asset, but there is no agreed way to measure it. As one of the
serial challenges that marketing professionals and academics find with the concept of brand
equity, the disconnect between quantitative and qualitative equity values is difficult to reconcile.
Quantitative brand equity includes numerical values such as profit margins and market share, but
fails to capture qualitative elements such as prestige and associations of interest. Overall, most
marketing practitioners take a more qualitative approach to brand equity because of this
challenge.

BRAND LINE
A brand line allows the introduction of various subtypes of a product under a common, ideally
already established, brand name. Examples would be the individual Kinder Chocolates by
Ferrero SA, the subtypes of Coca Cola, or special editions of popular brands.

BRAND IDENTITY
The outward expression of a brand including its name, trademark, communications, and visual
appearance is brand identity. Because the identity is assembled by the brand owner, it reflects
how the owner wants the consumer to perceive the brand and by extension the branded
company, organization, product or service. This is in contrast to the brand image, which is a
customer's mental picture of a brand. The brand owner will seek to bridge the gap between the

brand image and the brand identity. Brand identity is fundamental to consumer recognition and
symbolizes the brand's differentiation from competitors.
Brand identity is what the owner wants to communicate to its potential consumers. However,
over time, a product's brand identity may acquire (evolve), gaining new attributes from consumer
perspective but not necessarily from the marketing communications an owner percolates to
targeted consumers. Therefore, businesses research consumer's brand associations.

BRAND TRUST
Brand trust is the intrinsic 'believability' that any entity evokes. In the commercial world, the
intangible aspect of Brand trust impacts the behavior and performance of its business
stakeholders in many intriguing ways. It creates the foundation of a strong brand connect with all
stakeholders, converting simple awareness to strong commitment. This, in turn, metamorphoses
normal people who have an indirect or direct stake in the organization into devoted ambassadors,
leading to concomitant advantages like easier acceptability of brand extensions, perception of
premium, and acceptance of temporary quality deficiencies.
The Brand Trust Report is a syndicated primary research that has elaborated on this metric of
brand trust. It is a result of action, behavior, communication and attitude of an entity, with the
most Trust results emerging from its action component. Action of the entity is most important in
creating trust in all those audiences who directly engage with the brand, the primary experience
carrying primary audiences. However, the tools of communications play a vital role in the
transferring the trust experience to audiences which have never experienced the brand, the allimportant secondary audience.

BRAND PARITY:
Brand parity is the perception of the customers that some brands are equivalent. This means that
shoppers will purchase within a group of accepted brands rather than choosing one specific
brand. When brand parity operates, quality is often not a major concern because consumers
believe that only minor quality differences exist.

BRAND IMAGE:
Brand image means the image of a particular brand in market and in eyes of people. Brand image
decides the popularity of a brand in market. A brand having good brand image is considered
more popular than a brand with low image.

COMPONENTS OF BRAND IMAGE:


There are three components to a brand image: attributes, consequences and brand personality. It
is perhaps more inclusive to think of a brands image as encompassing all the associates that a
consumer has for that brand: all the thoughts, feelings and imagery-even colors, sounds and
smells - that are mentally liked to that brand in the consumers memory.

Attributes: Attributes means qualities or functions or advantages of a particular brand.


A brand is known by its attributes i.e. the qualities it offers. Attributes affect the brand
image i.e. a product or brand with lot of advantages in comparison to its nearest substitute

is considered more suitable. Thus it enhances the brand image.


Consequences: Consequences means the effect of the product. The product or brand
which gives ultimate good result is considered good brand. Thus, consequences also
affect brand image.

Brand personality: Brand personality includes associations with particular


characters, symbols, endorsers, life styles and types of users. Together, such brand
personality associations create a composite image of a brand. It gives the brand a sense of
human; it makes you feel a brand as a person. Thus it characterized it as adventurous,
head strong, undependable, excitable etc. Brand personality also associate feelings with
brand.

BRAND AWARENESS:
Brand awareness is the consumers ability to recognize or recall the brand within a given product
category in sufficient detail to make a purchase decision. This also means that the consumers can
propose, recommend, choose, or use the brand. The objectives of most advertising campaign are
to create and maintain brand preference. The first step is to make potential consumers aware of a
brands existence. One of the prominent goals of any business should be to build brand image
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and awareness of its product, albeit in as cost effective manner as possible. Consumers tend to
make purchasing decision based on peer recommendation and direct as well traditional
advertising methods.
Brand awareness is an important way of promoting commodity-related products. This is because
for these products, there are very few factors that differentiate one product from its competitors.
Therefore the product that maintains the highest brand awareness compared to its competitors
will usually get the most sales. Having knowledge of the existence of a brand because brand
awareness is considered the first step in the sale, the primary goal of some advertising campaigns
is simply to make the target market aware that a particular brand exists. Often, this effort alone
will sell the product (or service).

BRAND ELEMENTS
Brands typically comprise various elements, such as

Name: the word or words used to identify a company, product, service, or concept

Logo: the visual trademark that identifies a brand

Tagline or Catchphrase: "The Quicker Picker Upper" is associated with Bounty paper
towels

Graphics: the "dynamic ribbon" is a trademarked part of Coca-Cola's brand

Shapes: the distinctive shapes of the Coca-Cola bottle and of the Volkswagen Beetle are
trademarked elements of those brands

Colors: Owens-Corning is the only brand of fiberglass insulation that can be pink.

Sounds: a unique tune or set of notes can denote a brand. NBC's chimes provide a famous
example.

Scents: the rose-jasmine-musk scent of Chanel No. 5 is trademarked

Tastes: Kentucky Fried Chicken has trademarked its special recipe of eleven herbs and
spices for fried chicken

Movements: Lamborghini has trademarked the upward motion of its car doors.

JEWELLERY
Jewellery

consists

of

small

decorative

items

worn

for

personal adornment,

such

as brooches, rings, necklaces, earrings, and bracelets. Jewellery may be attached to the body or
the clothes, and the term is restricted to durable ornaments, excluding flowers for example. For
many centuries metal, often combined with gemstones, has been the normal material for
jewellery. The basic forms of jewellery vary between cultures but are often extremely long-lived;
in European cultures the most common forms of jewellery listed above have persisted since
ancient times, while other forms such as adornments for the nose or ankle, important in other
cultures, are much less common. Historically, the most widespread influence on jewellery in
terms of design and style has come from Asia.
Jewellery may be made from a wide range of materials. Gemstones and similar materials such
as amber and coral, precious metals beads, and shells have been widely used, and enamel has
often been important. In most cultures jewellery can be understood as a status symbol, for its
material properties, its patterns, or for meaningful symbols. Jewellery has been made to adorn
nearly every body part, from hairpins to toe rings, and even genital jewellery. The patterns of
wearing jewellery between the sexes, and by children and older people can vary greatly between
cultures, but adult women have been the most consistent wearers of jewellery; in modern
European culture the amount worn by adult males is relatively low compared with other cultures
and other periods in European culture.

IMPACT ON SOCIETY
Jewellery has been used to denote status. In ancient Rome, only certain ranks could wear
rings later, sumptuary laws dictated who could wear what type of jewellery. This was also based

on rank of the citizens of that time. Cultural dictates have also played a significant role. For
example, the wearing of earrings by Western men was considered effeminate in the 19th century
and early 20th century. More recently, the display of body jewellery, such as piercings, has
become a mark of acceptance or seen as a badge of courage within some groups but is
completely rejected in others. Likewise, hip hop culture has popularized the slang term blingbling, which refers to ostentatious display of jewellery by men or women.
Conversely, the jewellery industry in the early 20th century launched a campaign to
popularize wedding rings for men, which caught on, as well as engagement rings for men, which
did not, going so far as to create a false history and claim that the practice had medieval
roots. Religion has also played a role in societies influence. Islam, for instance, considers the
wearing of gold by men as a social taboo, and many religions have edicts against excessive
display.

GOLD JEWELLERY
Gold is one of the most precious metals found on the planet. It is not only used as a form of
money for exchange purposes throughout the world but also used to make jewellery. Golds
versatility, besides its beauty, recommended it above all other metals. It was so malleable that it
could be hammered cold into a thin, translucent wafer, so ductile it could be drawn into thin
wires making delicate chain and Filigree work possible from earliest times. Its colour and sheen
naturally equated it with the sun, while its corruptibility made it a symbol of permanence. This is
reason why, from the very first discoveries of gold along the rivers of Africa and Asia, the
craftsmen were inspired to it for adornment. Wearing it was also a symbol of wealth and power.

HISTORY OF INDIAN JEWELRY


History of Indian jewellery is as old as the history of the country itself. Around 5000 years ago,
the desire to adorn themselves aroused in people, leading to the origin of jewellery. Since then,
Indian women and jewellery have gone hand in hand. There cannot be a woman in India, who
does not adore herself with minimum jewellery. In fact, jewellery is considered as security and
prestige of women in the country. The attraction for jewellery has been great in India that it is no
more a craft than an art.
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Indian jewellery is unique in its design and workmanship. In all kinds of traditional dance forms,
jewellery has been a significant part. Be it Bharatnatyam, Kuchipudi or Kathak, all have given
importance to jewellery in presenting the artist. The sheer number of items forming the jewelry
of an Indian woman is numerous, ranging from earrings and necklaces to pieces for adorning the
hair, hip, feet, and feet. Jewelry made with emeralds, diamonds, pearls, rubies, sapphires and
other precious and semi-precious have

been in practices.

IMITATION JEWELLERY
Fashion jewelry is also called costume jewelry, mainly for the reason that it is not made of
precious metals and stones, rather lighter and cheaper material are used. Fashion jewelry is trendconscious and keeps on changing as per changing needs. For those who are open to
experimentation with new and unusual designs, shapes and colours, costume jewelry offers
plethora of choices. Rather than using precious ingredients, like gold, silver, platinum and white
gold, fashion jewelry designers use cheap products, like jute, leather, peppier Mache, Bakelite
plastic, wood, bone, stone, oxidized metal, horn, lac.
Fashion jewelry is almost like an imitation of real jewelry and has been considered cheaper copy
of the latter. It is widely available and is pretty light-weight, which forms one of its USP also.
The process of making costume jewellery is such that its look deceives for original and authentic
version. In place of precious stones, artificial stones, such as cubic zirconia and rhinestones, are
used. Such jewelry is available in several colors and looks very attractive. At the same time, it's
readily available and has economical prices.
Costume jewellery, trinkets, fashion jewellery, junk jewellery, fake jewellery manufactured as
ornamentation to complement a particular fashionable costume or garment as opposed to "real"
(fine) jewellery which may be regarded primarily as collectibles, keepsakes, or investments.
Originally, costume or fashion jewellery was made of inexpensive simulated gemstones, such
as rhinestone or Lucite, set in pewter, silver, nickel or brass. During the depression years,
rhinestones were even down-graded by some manufacturers to meet the cost of production.
In India also, the concept of fashion jewelry is very much prevalent, especially amongst the
college going teenagers. Since the prices are cheap, they can get a wide variety and also keep up
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with the changing fashion. Indian fashion jewelry industry is growing in quantum, patronized
mainly by the youngsters. Following are the most popular products forming a part of the costume
jewelry of India.

Spiral bangles and rings


Glass beads, strung on nylon
Chunky tribal jewelry
Surgical steel jewelry
Ornaments with symbols and messages
Charm jewelry, such as mood rings, charm bracelets and others.
Tattoo jewelry
Chandelier earrings
Sterling silver jewelry, studded with artificial stones
Abstract jewelry
Body piercing jewelry

ABOUT FINE JEWELLRY AND COSTUME JEWELLRY


The fine jewelry of the present era dates back to the 19th century, and it consists of gold,
platinum, and gemstones. Predominant jewelry styles tend to conform to the artistic style of the
times. Between 1910 and 1920, an artistic style known as Art Nouveau became popular. The
style is characterized by abstractions, flowing lines, flowers, serpents, butterflies, and the
depiction of women carved into the surfaces of many of this era's jewelry pieces. It was at this
time that enamel jewelry became popular. Designers began using this technique to decorate
metals that were less expensive. The technique helped to catapult costume jewelry's popularity
among the people who liked the style, but they could not pay the high prices for precious metals.
Although the style was the same, the pieces had a category of their own. They were not valuable
because they weren't considered to be fine jewelry. The 1940s is known as the Retro period in
jewelry. Pink gold, large brooches, lush styling, and an extravagant use of gemstones
characterize this style. Much of the enameled costume pieces of the 1920s created a new market
for costume styles that mimicked the Retro periods fine jewelry styles. During World War II,
many women could not afford to buy jewelry made of precious metals. This gave rise to an even
wider market for costume jewelry. If there was a budget for fashion, many of the women bought
costume jewelry to accessorize their clothing. Although it is too early to say how historians will
describe the jewelry of today, jewelry experts predict that it will be known for its eclecticism.
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Todays designs reflect a broad range of influences. It borrows freely from all previous eras, and
it reflects the individual tastes of both designers and clients. Costume jewelry is very much a part
of today's styles, but there are still distinct differences between costume jewelry and fine jewelry.

DIFFERENCES

BETWEEN

FINE

JEWELLERY AND

IMITATION

JEWLLERY
The difference between fine jewelry and costume jewelry is the quality of the metal used in the
jewelry and the authenticity of the stones set into the pieces. Additionally, fine jewelry can last
for generations, and it is often considered an investment or something worth collecting and
passing down to family members. There are a few guidelines that can help consumers to
understand the difference between fine jewelry and costume jewelry. Items considered to be fine
jewelry are constructed of gold, sterling silver, or platinum. Both yellow and white gold must be
at least 10 karats or higher to be classified as fine jewelry. Generally, yellow and white gold are
offered to consumers in 10, 14, and 24 karats. When examining yellow gold, its appearance will
become a deeper gold color in the higher karats. White gold looks just about the same in all
choices of karats. Gold in higher karats will tend to be softer, and it will scratch more easily than
the lower karats.
Stones must be natural gemstones, which possess all the visual, chemical, and physical properties
of mined gemstones to be categorized as fine jewelry. All pearls that are naturally formed are
categorized as fine jewelry. Many people become confused about pearls because they are unsure
if cultured pearls are authentic. Cultured pearls are natural pearls. They are cultivated in oysters
that are specifically used for the scheduled production of pearls. Since they are natural, cultured
pearls are categorized as fine jewelry. All natural diamonds are considered to be fine jewelry.
Many manufactured stones are not in the category of fine jewelry because they are not genuine
diamonds. Some of these synthetic stones include brio lite, cubic zirconium, Dominique, glass,
moissanite, plastic, quartz, rhinestone, and strontium titan ate. Diamonds consist of pure carbon.
Lab-created diamonds are of the same chemical properties as diamonds; however, when labcreated diamonds are sold, they must be identified as being lab-created. The price of lab-created
diamonds is significantly lower when compared to natural diamonds. Many people like the idea
of having the choice to set a lab-created diamond into their jewelry because they can get the
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stones for a fraction of the price of a mined diamond. However, the value of the piece will not be
worth as much if they decide to sell it later on. These stones are considered to be substitutions for
mined diamonds.

NEED AND IMPORTANCE OF THE STUDY


While buying any product, a consumer displays different kinds of behavior towards different
kinds of products from soap to a car. More complex decisions involve more buying participants,
affecting the consumer behaviour, especially in place like India.
In India, jewellery is an important part of the society as it is not only worn as an adornament but
also as a traditional and sentimental importance in the Indian society. However gold jewellery
being expensive and it also involves risk of theft. so, consumers now are using imitation
jewellery.
With change in fashion trends consumers are now preferring imitation jewellery because they
offer wider variety of designs at an affordable price as compared to fine jewellery and also
involve less risk factor.
Hence the study conducted to analyze the changing market trends in the jewellery sector,
changing consumer preferences and consumer buying behavior with respect to imitation
jewellery shopping.

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OBJECTIVES OF THE STUDY

To compare customer preference between imitation jewellery and fine jewellery


To know the consumer preference towards imitation jewellery shopping.
To explore the imitation jewellery market and analyze the scope of its growth.

SCOPE OF THE STUDY


The study is conducted to understand the various aspects of customer buying preferences
towards imitation jewellery shopping in Hyderabad. The findings and conclusion form this are
based on the responses of jewellery customers in the city only. This study will be helpful to some
extent in gaining an insight into Customer preferences in buying imitation jewellery.

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METHODOLOGY OF THE STUDY


The data for this study was collected though a questionnaire. A structured questionnaire is
framed as it more convenient, less time consuming and, easy to analyze and interpret. Moreover
collecting the data through primary sources, i.e. the direct consumers, gives us the information
which is very helpful. Only a close-ended questionnaire has been used.

COLLECTION OF DATA

Primary data Data observed or collected directly from firsthand experience. It was the
main source of the data collection. Primary data was collected using a structured
questionnaire which was personally sent to each of the respondents.

Secondary data The study also included secondary data which was collected from
various different sources like magazines, articles, books and the internet.

SAMPLING TECHNIQUE
The sampling technique used for the study is convenience sampling. Convenience sampling
technique is one of the main types of non-probability sampling techniques. It is a method of
drawing representative data by selecting the sample which is easily available. This method is
helpful when the time period of the study is less as the data can be collected quickly. The main

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advantage of this technique is the easy availability of the data and quickness with which it can be
selected.

SAMPLE SIZE
The total sample size taken for this research project was 100 consumers residing in different
areas of Hyderabad and they were asked their preference towards imitation jewellery.

LIMITATIONS OF THE STUDY

Since the time period of the study was only one the month, an in depth analysis could not

be done
The sample size of the study being only 100, would not give a comprehensive result and

may ignore many important samples


Since the sample size is small and the survey covers only a part of Hyderabad ,the results

cannot be generalized
The sample taken and conclusion drawn may lead to only on side of the study if there is
lack of awareness about imitation jewellery shopping among the consumers.

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