CONSUMERS BRAND PREFERENCE AND PURCHASE INTENTION TOWARDS GOLD JEWELLERY WITH SPECIAL REFERENCE TO SCHOOL TEACHERS IN KOTTAYAM DISTRICT

The jewellery market in India is anticipated to nurture at a Compound Annual Growth Rate (CAGR) of 15.95 per cent over the period 2014-2019, according to the findings of “Research and Markets”. In India, gold jewellery is a hoard of value, a representation of wealth and position and an elementary part of numerous rituals. The World Gold Council (WGC) has composed data from various sources to disclose that the average weight of jewellery of the upper and middle class Kerala bride is as tall as 320 grams (worth around Rs 9 lakh at current prices, even excluding making charges that can diverge dramatically). According to business sources, Kerala occupies the foremost position in the country in gold spending with the major number of retailers, more than 5,000 matched up to the 1,000 retailers a decade ago. The benefit of branding is that it induces preference in the consumers mind towards that brand and it can lead to positive purchase intention. The present study attempts to calculate the consumers purchase intention and brand preference towards gold jewellery among the school teachers. The study make use of primary and secondary data. A sample of 120 school teachers from Kottayam city of Kerala is collected from five schools by using multistage random sampling method. The results explain that teachers are motivated to purchase gold jewellery because of the social status, variety, brand name, word of mouth publicity, advertisement, price, etc.