Juvalia & You
Juvalia & You
Juvalia & You
THE STUDY OF JEWELLORY BRAND IN INDIA V/S JUVALIA & YOU Submitted to SKYLINE BUSINESS SCHOOL, GURGAON In partial fulfilment of the requirements For the award of the degree of POST GRADUATE PROGRAMME IN MANAGEMENT (INDUSTRY INTEGRATED) (II SEMESTER) Submitted by Name: Vimalesh Kumar Regn. No.:1130520037 Roll No. : 1190210052 ELC CODE: 081023043 122 Institutional Area, Sector 44 Gurgaon-122003 July 2012
CERTIFICATE
This is to certify that VIMALESH KUMAR a student of the MaharshiDayanand University, Rohtakhas prepared his Training Report entitled STUDY OF JEWELLORY BRAND IN INDIA at JUVALIA & YOU (SMILE GROUP), under my guidance. He has fulfilled all requirements leading to award of the degree of MBA (Industry Integrated). This report is the record of bonafide training undertaken by him and no part of it has been submitted to any other University or Educational Institution for award of any other degree/diploma/fellowship or similar titles or prizes.
ACKNOWLEDGEMENTS This report has been prepared in simple and lucid style for easy interpretation and better understanding. I would like to acknowledge the following people for their support and assistance with this internship. From The Juvalia& you, I would like to thank my HR. Ms ShrutiDixit, and Sales Manager MrManeshKhannato give me a chance to work with the Juvalia& you, my Training ManagerMsAmbikaSaxena for taking me under her guidance and monitoring. She has been a great mentor and mended me whenever I needed assistance. I would also like to thank,MrArjun Sharma,Mr PulkitGabafor their support during the course of this internship program. Last but not the least I would like to pay gratitude to my parents who supported me in every circumstance.
STUDENTS DECLARATION I hereby declare that the Training Report conducted at JUVALIA & YOU (SMILE GROUP) Plot 7c, Sector 18 / Maruti Industrial Area, HUDA Gurgaon, Haryana Under the guidance of Ms.AmbikaSaxena Submitted in Partial fulfilment of the requirements for the Degree of
CONTENTS
Sl.no. 1. Objective 2. Executive Synopsis 3. Industry Profile 4. Company Profile Mission, Vision, Values, Marketing size, Culture, History, Main Product, Competitors Information, S.W.O.T Analysis of the Organization. Marketing mix
5. Departmental study(department structure, role of department) 17-20 6. Intern profile(Your profile) 7. STUDY OF SELECTED RESEARCH PROBLEM Statement Of Research Problem Statement Of Research Objectives Research Design And Methodology 8-ANALYSIS Analysis of Data 24-34 21 22-23
Summary of Findings
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9- SUMMARY AND CONCLUSIONS Summary Of Learning objective Conclusions And Recommendations 10-APPENDICES 36 37-38 39-40
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OBJECTIVES
The main objective of the internship was make stylist through the selling of the jewelry. And promotion of the brand through the word of mouth and create a good image in of the brand in consumer mind so, Find out that customer which are interested in fashion jewelry and explain the product, offer which provided by the company and also explain business plan of the company.
EXECUTIVE SYNOPSIS
My Executive Synopsis are:-
1. Making call to the boutique and women 2. Taking appointment to the boutique or women 3. To go there appointed date and time 4. Explain all of the jewelry price and offer 5. Explain business plan 6. Convincing customer to buy the product 7. To go resident welfare association for the RWA activity and take permission
for the activity where we show our jewelry through the company stall
INDUSTRY PROFILE
Fashion JewelryKnown by various names as costume jewelry, designer jewelry, imitation jewelry, fashion jewelry is basically a replica of jewelry crafted out of materials other than gold, silver, diamond like ivory, lac, leather, aluminum, brass, stone, terracotta and semiprecious stones. Fashion jewellery industry started in the 18th century with its use in stage costumes. During the early 19th century, the use of costume jewellery was limited. It made a comeback during the 1960s-70s with many countries manufacturing this type of jewellery on large scales. The inexpensive jewellery was mass produced in many countries. Over the years, costume jewellery has become a rage with women of all ages groups, fashion conscious people.
Rajasthan Uttar Pradesh Maharashtra Kerala Assam Madhya Pradesh West Bengal
The state of Rajasthan is popular for its semi-precious and stone studded jewelry. Muzaffarpur in the state of Bihar, is known for its Lac jewelry. Moradabad is known for manufacturing high quality and superior finish brass ornaments.
EU USA New Zealand Middle eastern countries The most significant activities associated to this industry are mining, casting, polishing, retailing, molding, plating, quality checking. New versions of jewellery have also come up in the form of designer jewellery, costume jewellery, imitation jewellery, etc. which are more fashionable and voguish than the original gemstone jewellery
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India, Japan, Middle East, Italy, China, United Kingdom and Turkey. India and China have presented a great development in sales during the previous five years.
Future Prospects
The future assumptions for the global fashion jewelry industry based on the recent tendencies are that the mining countries will fascinate an immense contribution of the polishing sector as well. Alternatives of precious stones such as man-made diamonds and non-precious metals will substitute the precious stones. The evident gold jewelry gross sales will keep on declining and countries like China and India will come forth as large retail markets.
According to the above trends the projections for development of jewelry industry are as follows:
Jewelry manufacturing servicing will also depict inert requirement and will proceed to new centers. The CAGR of world-wide fashion jewelry manufacturing is guessed to be 5.1% by 2015. India and China will be the newer centers for Fashion Jewelry Fabrication.
Letting down margins in profit and obligation levels in the industry will serve to develop the fashion jewelry industry.
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By the year 2015, the fashion jewelry industry will witness the outgrowth of a number of giant markets, which will be the leaders of industry in the future.
The increment in sales of the industry as a whole will decelerate and the world will point out the growth of new markets. The global fashion jewelry sales will grow at the rate of 4.6% per annum and is approximated to reach 185 billion US $ by 2010 and 230 billion US $ in 2015. China and India untidily will come out as equivalent to the US market in 2015.
Global fashion jewelry sales, USD billion Years 2005 2010 2015 Jewelry Sales in USD Billions 146 186 230
Conclusion:
The future of fashion jewelry industry lies down in the formulating nations and principally China and India. The African countries making raw materials will also gain from the enlargement of these markets. Thus, on the whole, the future for the industry is brilliant but still certain stairs need to be taken by the central players to enhance the supplying of raw materials and regenerate the supply chain.
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COMPANY PROFILE
Juvalia& Youa Berlin-based online fashion jewellery company incubated by Springstar, has launched its Indian operations by opening an India specific portal Juvalia.in, reports iamwire. headed by ChaitanyaAggarwal,an MBA from Columbia Business School. He had previously worked as a research associate with Citadel Investment Group. the company has setup an office in Delhi and will be operated by Juvalia Marketing Pvt. Ltd, owned by members of Harish Bahl Smile Group. Two global trendsetters Anna from Russia and Livia from Brazil met in New York City and chatted about how they mutually enjoyed travelling the world collecting the best and most unique jewellery pieces from trendy, new upcoming designers. Years later, they created JUVALIA & YOU an innovative and modern social selling company that offers todays busy woman a career alternative, where she can achieve success and balance through a career in something she loves.A Fashion E-commerce site and a direct marketing approach. According to the sources Juvalia.in has also raised investment of around US$15 Mln as of now. Thecompany currently has two types of business models E-Commerce site: The site currently offers fashion jewelry such as necklaces, bracelets, earrings, rings, brooches and hairbands. Users can either sort the jewelry by name, price or position or click on any specific jewelry to view more information and check its availability. Users can also browse to any specific category through the sidebar or search through the keyword-based search box. Among the payment modes offered are Cash On Delivery, Credit Card, Debit Card, NetBanking. The company also seems to be offering free shipping at present.
Direct Marketing:
Juvalia allows users to sign up as stylists to sell products in social gatherings and earn sales commission of around 25-35%. Besides this, the company also offers discounts and rewardsin order to incentivize the stylists. As stated earlier, this company has been incubated by Springstar, formed by Klaus Hommels, Oliver Jung and Smile Interactives Harish Bahl. Interestingly, Smile Interactive already
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operates an invitation-only fashion e-commerce portal FashionAndYou.com and an online clothing portal Freecultr. We wonder if there will be some sort of integration between these these portals in the future.
Copycat:
The company is closely modeled on the San Fransciscobased Stella & Dot. Interestingly, Magnus Resch, the managing director of Springstar, has admitted in an interview that the venture is a copycat and the idea to open a similar company came after Stella & Dot raised $37 million from Sequoia Capital in January 2011. The company has since opened offices in Germany, Russia, Brazil and India.
Mission:- To give women around the world the unique opportunity to live their
dreams of becoming entrepreneurs, no matter their situation or training. aims to project JUVALIA & YOU India as Indias first and finest international jewelry brand.
Vision:- We have a vision of a better world that offers women an alternative career
path. Flexibility and fun should be compatible with success and profit.
Value:-The company site is worth $55,698 USD and advertising revenue is $88
USD per day.
Market size:- Fashionjewelry market and that of the network marketing market are
both around $3 billion.
Culture: there are no any dress code but nice relationship. Good training and learning skill for the employee Leadership quality are also good Communication between employee very good History:Company: Juvalia Ltd. Founded: December 2011 Country: India Founding: ChaitanyaAggarwal
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Key products: high-quality fashion jewelry JUVALIA & YOU India brings to you exquisite fashion jewellery from around the globe. JUVALIA & YOU is a social selling company bringing to you exquisite international styles of fashion jewellery from around the globe at one place. Two global trendsetters Anna from Russia and Livia from Brazil met in New York City and chatted about how they mutually enjoyed travelling the world collecting the best and most unique jewellery pieces from trendy, new upcoming designers. Years later, they created JUVALIA & YOU an innovative and modern social selling company that offers todays busy woman a career alternative, where she can achieve success and balance through a career in something she loves. With its headquarters in Berlin, today JUVALIA & YOU operates in four countries - Brazil, Germany, Russia and now in India. JUVALIA & YOU India is the brainchild of our CEO, ChaitanyaAggarwal. With entrepreneurship running in his veins, he aims to project JUVALIA & YOU India as Indias first and finest international jewellery brand. Its not only a platform for sales but a means to empower the women of today. Every product in our collection is handpicked keeping in mind the ever changing taste of modern women. Our catalogue has a wide range of necklaces, earrings, bracelets, rings and more. Juvalia Indias accessories are versatile and exclusive and can be worn for a casual outing with friends, formal evenings and even to our big fat Indian weddings!
We have established our presence in India under the parenting of Smile Group which also houses Indias leading e-commerce portals such as FashionandYou.com, DealsandYou.com, Freecultr.com, Bestylish.com and many more. Our jewelry is special: From New York to Sao Paulo or Moscow - our style scouts have the latest jewelry trends constantly in view.
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Strength 1- Provide jewelry at 75% discount at the starter kit. 2- Cash on delivery service. 3- Easy to access all Information of the product and price through the company website. 4- Goods delivery process is simple. 5- Easy to purchase as your choice. 6- Highly skilled, qualified and motivated employee.
Weakness 1- Brand for only upper and middle class people. 2- All of the jewelryare imported 3- Price of the product.
Opportunity 1- Demand for fashion jewelry. 2- People want to their Chang life style they want to move modern world. 3- Big market size of fashion jewelry in India. 4- Fashionable design 1234-
Threats Traditional jewelry Chinese jewelry product Other domestic product Major competitor Avon, Mary Kay.
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MARKETING MIX
4ps of marketing (Product, Price, Place, Promotion) of the company Product: Fashion and imitation jewelry. Ex.
Necklaces Bracelets Earrings Rings Brooches Hairbands Indian Jewels(imitation jewellery)
Price:80%of the jewellery price between Rs150 to500 Starting price range Rs.150 Maximum price range Rs.3500
Place:Because juvalia and you is a direct marketing company therefore it has not any retail store or any shop It has only office in Gurgaon, Chandigarh and Delhi
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DEPARTMENTAL STUDY
Marketing Manager
Stylist
Area Manager
Customer
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promises / benefits an organization wishes to make with its customers. Furthermore, the Marketing Department is responsible for ensuring that messages and images are delivered consistently, by every member of the organization. (d) Find & Direct Outside Vendors. Internal Marketing Departments do not create magic alone. Therefore, Marketing needs to source and oversee a group of outside resources (a.k.a. partners) such as copywriters, graphic designers, web designers, database specialists, and printers so that a company can get the most bang from its marketing efforts. (e) Create New Ideas. Whether its customer acquisition campaigns, keep-in-touch programs, new product promotions, retention efforts, or something in between, the Marketing Department should ultimately be responsible for developing new ideas that generate revenue for the company. This does not mean that the Marketers have to come up with every idea on their own; however, they need to identify, cultivate, and work with others (see point #4) to execute programs that will create revenue. (f) Communicate Internally.
It is important that the Marketing Department communicates with all departments inside an organization. Since any employee (regardless of position) can support (or damage) a brand, value proposition or even specific program initiatives, the Marketing Department needs to take responsibility for disseminating information throughout the organization (this includes internal education and training when appropriate). (g) Manage a Budget. Establishing and communicating messages to the marketplace costs money. Therefore, Marketing Departments should be responsible for estimating the anticipated expenditures associated with marketing activities. Once set, Marketers should be held responsible for meeting all budget projections.
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(h) Understand the ROI. Since marketing activities are an investment an investment in time, money, and effort they should be monitored and measured against specific concrete goals and objectives. Marketing Departments should constantly ask themselvesWhats my expected return? Answering this simple, yet often overlooked question will result in better, more accountable decisions. (i) Set the Strategy, Plan the Attack, and Execute.
One of the key activities for a Marketing Department is to integrate an organizations goals, strengths, channels of distribution, competitive environment, target markets, pricing, core messages, and products into one cohesive document known as the Marketing Strategy. As part of the strategy, the Marketing Department should also develop the list of tactical ideas such as direct mail, print advertising, and search engine optimization that will enable the organization to communicate its message to customers and prospects. With a strategy and tactical ideas in hand, the Marketing Department is now ready to take on the responsibility of executing the programs and initiatives to drive sales and revenue for the organization.
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WORK PROFILE
My job profile:-
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RESEARCH WORK
Research problem:- promotion and selling of the jewelry Objective:1. To know how many people like fashion jewelry 2. To know how many people know the brand 3. Find out the way of the buy the jewelry
In research methodology mainly data plays an important role. The data is divided in two parts: a) Primary data b) Secondary data
SOURCES OF DATA COLLECTION:Primary sources:a) Observation method b) Interview method c) Questionnaire method Sample size:Sample size taken for the purpose of data collection data is 50 people
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RESEACH TYPE
I have used Descriptive Research Design for research purpose
Descriptive Research:Descriptive research is also known as statistical research. It describe data and characteristics about the population or phenomenon being studied. Descriptive research answer the question who, what, when, how. This study is complex and determines high degree scientific skill to study the problem. The description is used for frequencies, averages and other statistical calculation. Often the best approach, prior to writing descriptive research, is to conduct a survey investigation. Qualitative research often has the aim of description and what the implication of the finding are. In short descriptive research deals with everything that can be counted and studied.
In this report, I have used this descriptive research design for conducting survey on promotion and selling.
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ANALYSIS
ANALYSIS WITH GRAPH:1-Do you wear fashion or imitation jewelry?
Response in % 90 10 100
yes 90%
Comment:
According to data 90% of the women wear fashion jewellery 10% of the women dont like fashion jewellery
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2- Are you aware of the various fashion jewelry brands available in the market?
Response in %
20 80 100
no 80%
Comment:
According to data 20% of the women aware various jewellery brand available in the market where as 80% women dont know about that.
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Response in % 12 6 2 80 100
no one 80%
Comment:
According to data 80% of women dont know any fashion jewellery brand, and 12%of women know one brand, 6% women know two brand and 2% of the women know more than two.
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4-Tick the brands that you are aware about in the fashion jewelry market
Aware of brand in market Juvalia and you Avon Mary Kay Other Total
Response in % 26 40 30 4 100
avon 40%
Comment:
According to data 26%of women know Juvalia and you 40%of women know Avon, 30%Mary Kay and 4% other
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5-From where did you get the knowledge of this brand (juvalia and you)?
where did you get the knowledge Company activity Recommendations from Friends / Relatives Other (specify) Face book
Response in % 20 40 26
total
100
Comment:
According to data 20% people know it through company activity, 40% people know through recommendation from friend/ relatives, 26% through face book 6% through prospecting 8% through internet advertisement.
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6- When (i.e. on what occasions) do you wear jewelry? When do you wear jewelery Daily Other party When going out side total Response in % 94 2 4 100
Daily 94%
Comment:
According to data 94% women wear jewellery daily bases 4% wear when they going outside of the home, 2%wear when party or marriage
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Response in % 90 10 100
NO 90%
Comment:
According to data 90% of the women dont have bought any branded jewellery and 10% women buy
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Response in % 52 48 100
Prefer jewellery
Imitation 48%
Fashion 52%
Comment:
According to data 52% of the women prefer fashion jewellery and 48% women prefer imitation jewellery.
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Response in % 80 14 6 100
Cost 14%
Comment:
According to data 80% of the women give value to design/uniqueness, 14% of women give value to cost and 6%other like colour etc.
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10-Before making any jewellery purchases, do you compare the designs and prices of the same between the branded showrooms and the local dealers?
Compare design and price at the time of purchase Always Often Sometime Rarely Never Total
Response in %
40 20 12 20 8 100
Comment:
According to data 40% of women compare always design and price at the time of purchase 20% often compare, 12% sometime compare, 20% rarely compare and 8% never compare that.
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Response in % 60 30 10 100
Prefer to buy
Store 60%
Comment:
According to data 60% of the people prefer to buy from the store 30% people prefer from online shopping and 10%prefer from stall of the company.
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CRITICAL FINDING
1. The company should be go for more advertisement on the internet or social media. 2. The company should be make more design and unique piece in low price. 3. The company should make easier process of online shopping. 4. Mostly youngster like fashion jewellery age group between 15 to 30
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LEARNING OUTCOMES
1. I am work include the survey and observation, I learnt some of the ground rules of conducting research. 2. I also learnt about the marketing which we studied in class only. 3. I also learnt the how we condensed to customer. 4. I also come to know the various work culture, rules that required to be followed in the organization. 5. I also learnt the Importance that how Make relationship with customer. 6. Learn about MLM Company and it working policy.
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CONCLUSIONS
For doing this market research there are following conclusion I find out. I think that company has to work in future to remind this area to following that is writing below:-
1. 2. 3. 4. 5.
After the get marriage for the some-year women leave to wear fashion jewellery. Most of the women like traditional jewellery like gold, diamonds, silver. Jewellery price does not matter if that is unique. For professional women they like to professional jewellery. Imitation jewellery is most of the famous in all age of women but married women like it more than youngster.
6.
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RECOMMENDATION
For spending the good time to the market in this interesting research topic my market learning is good and response of the people are very good.in the market research time I am also meet my friend they are also looking product. 1. Company should be more advertising through the internet 2. Product should be unique design at the rate of affordable price. 3. Hallmark should be used on jewellery of the company. 4. Company should also be sell single jewellery on discount rate.
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APPENDIX
QUESTIONNAIRE
2- Are you aware of the various fashion jewelry brands available in the market? Yes No 3- How many brand are you know (fashion jewelry brand)? a) b) c) d) 1 2 more than two no one
4-Tick the brands that you are aware about in the fashion jewelry market Juvalia and you Avon Mary Kay Other 5-From where did you get the knowledge of this brand (juvalia and you)? a. Company activity b. Recommendations from Friends / Relatives. c. Other (specify)
6- When (i.e. on what occasions) do you wear jewelry? a. Daily b. Others specify
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8-Which type of jewelry do you prefer most? a. fashion b. Imitation. .9- When buying jewellery, what do you value the most? a. Design / Uniqueness. b. Cost. c. Other
10-Before making any jewellery purchases, do you compare the designs and prices of the same between the branded showrooms and the local dealers? a. Always b. Often c. Sometimes d. Rarely e. Never
11-Where do you prefer to buy the jewelry from (for gifting)? a) Store b) Online Shopping c) Stall of the company
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BIBLIOGRAPHY
1. Company site :
a) www.juvalia.in b) www.juvalia.de
2. Books:
a) Marketing management (Phillip kotler) b) Business research methods (William G. Zikmund)
3. Internet:
a) www.google.com
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