Pandora's Entry into the Indian Jewelry Market

The assignment content revolves around a research project to understand the opportunities for Pandora Jewelry to enter the Indian market directly. The researcher, who prefers lightweight and fashionable silver jewelry, has followed Western culture more than traditional Indian culture. They purchase silver jewelry regularly and are brand-conscious while making a decision to buy jewelry. The researcher plans to conduct primary data collection by interviewing individuals in India and storing the data securely in Google Drive. The participants will be informed about the research objectives, purpose, and data protection compliance before commencing the interview or questionnaire.

consultancy project
To understand the opportunities available for Pandora jewelry to enter into Indian market directly
STUDENT NAME:
STUDENT ID:
DATE:

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Abstract
The research is being conducted to understand and analyze the opportunities which are available
for the Pandora jewelry to further expand its operations by entering directly to the Indian market.
Further, the research will show that how the Pandora will be able to explore the opportunities of
the new market which mainly deals with the jewelry of gold and diamond despite being oriented
to the silver jewelry only. Pandora has offline and online operations in order to provide the
products to the customers. Moreover, the research was being conducted by utilizing secondary
and primary methods of the research along with the tools of marketing in order to understand the
external and the internal environment. The results which are gathered from the respondents are
being interpreted in the form of graphs and the charts. Also, our consultancy company provided
best and appropriate solution to the customer as per their requirements.

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Contents
1. Introduction.........................................................................................................................................3
Research aim..........................................................................................................................................4
Research objective.................................................................................................................................4
Identified research question..................................................................................................................4
2. Literature review.................................................................................................................................5
3. Methodology.....................................................................................................................................10
Philosophies..........................................................................................................................................10
Strategy................................................................................................................................................12
Design...................................................................................................................................................13
Implementation....................................................................................................................................14
4. Data collection, analysis, discussion..................................................................................................15
SWOT Analysis....................................................................................................................................15
PESTEL Analysis................................................................................................................................16
Survey analysis....................................................................................................................................18
5. Conclusion and recommendation......................................................................................................31
6. Reflective report................................................................................................................................34
7. REFERENCES......................................................................................................................................36
8. APPENDICES.......................................................................................................................................40
Questionnaire.......................................................................................................................................40
Ethical approval form.........................................................................................................................41

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1. Introduction
To attain the sustainability and the competitive edge along with the maximization of profitability
for the longer period of time, the organizations have to change their way of working and further
explore the new opportunities to expand their business and create a strong market presence.
Furthermore, Pandora is planning to enter the market of India as it is one of the greatest market
of jewelry across the globe. The Pandora wants to open around 50 shops in the coming four years
in order to expand the business. Pandora is targeting the market of India because the country is
focusing on the diamond and gold and the youngsters of the country are highly influenced by the
western culture and the brands and they are more attracted towards the silver jewelry
(PANDORA. 2017). This will be a great opportunity for Pandora to expand the business in the
market of India by targeting the youngsters. Moreover, jewelry is being defined as the statement
of fashion which is becoming popular among the customers. It is being observed that the country
holds high potential for the company in order to explore the available opportunities and create
strong presence in the Indian market. Further, the companies should keep on experimenting
according to the change in technology and the time to achieve the sustainability by developing a
base of customer loyalty. Furthermore, the background of the project will be demonstrated and
the literature review will be shown that is being developed by gathering the information through
secondary research i.e. journals, articles, etc. Also, methodology will be shown that will
demonstrate the strategies, philosophies and the design that is used in successfully conducting
the research. The section of data analysis will demonstrate the interpretation of the data in the
form of external, internal and the survey analysis which will show that what opportunities are
available for Pandora and to what extent the company can expand its business in the market of

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India. Further, recommendations will be created accordingly in order to improve the strategies to
enter the Indian market and also develop a strong presence in the Indian market of jewelry.
Research aim
The project’s aim is to understand the opportunities which are being available for the Pandora
jewelry in order to enter the market of India by understanding the environment of jewelry in that
particular country. Also, by analyzing the competitive edge of Pandora as compared to the
international and the national jewelry organizations in the country.
Research objective
The objectives of this particular research are given below:
1. To assess the current situation of the company in the International market.
2. To understand the Jewelry environment of India.
3. To analyze the competitive advantage of Pandora in comparison to other national and
international jewelry companies in India.
4. To identify strategies that will be suitable to enter and expand in the Indian Jewelry
market.
5. To recommend improvements based on the overall assessment.
Identified research question
What are the opportunities available for Pandora Jewelry to enter into Indian market directly?

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2. Literature review
According to (Robson, C. 2002), it is being observed that there is the market for the silver
jewelry if it is being aimed at the generation of the youngsters who wants to purchase the
fashionable and the light jewelry. It is the correct time for the companies to enter the market of
silver jewelry as it has initiated to take off. Further, the Indian market of jewelry is witnessing a
great shift in screening the types of jewelry from the initial investment to the appealing artistic
ornaments. The focused is being shifted to the unique style of designs. The customers of India
are experimenting with the new and innovative designs along with the light weight jewelry rather
than heavy weighted gold and diamond plated jewelry. Furthermore, it is being observed that
since the year 1990, the taste and the preference of the customers are changing towards the type
and the design of jewelry. The women are opting for the lightweight and the fashionable Jewelry
rather than the chunky traditional Jewelry. There is the continuous rise in the demand for the
lightweight and the fashionable Jewelry. Furthermore, the customers prefer silver Jewelry more
as compared to the diamond and the gold Jewelry (Titova, A. 2011). Also, it is being observed
that the branding provides customers great confidence in order to make the decision for
purchases and get satisfied with the products. The recognition of the brand helps the retailers to
attract the customers to a great extent and maximize the sales by providing the unique and
innovative products to the customers at the affordable prices by satisfying them. Further, the
industry of Jewelry has seen the light of branding and initiated to harness the power in order to
sell the silver Jewelry.
Further, (Boyd, D. R. 2015) stated that the industry of silver Jewelry is still at the stage of
infancy in some of the countries but, the maximized rates of growth demonstrate that in the short
period of time it would corner a marker’s great chunk. Moreover, the branded silver Jewelry has

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sculpted a niche in the tough market of India, and further, the suppliers are aiming to expand the
customer demand for the silver Jewelry in the content of expanding competitiveness and attain
the sustainability. Furthermore, it is being observed that the Indian market of Jewelry and gems
possess the great potential for the purpose of expansion in future. The market of India has an
additional advantage of the reduced cost of production along with the labor which is skilled and
further distinguishes it from the competitors. According to the change in dynamics, the jewelers
are trying to jump on the wagon of the brand by investing in the advertisements and further
attempting to develop a presence in the customer’s perception. (Titova, A. 2011) stated that the
silver jewelry had become an essential part of people. Nowadays, the customers are purchasing
branded silver jewelry that further creates the statement of fashion and expresses the
individuality. Jewelry is becoming a passion for the customers as they look for the contemporary
styles and designs at the affordable prices. The concept of silver jewelry has taken a great swing
in the various countries, for example, India. The demand of the lightweight and the fashionable
silver jewelry is rising and is further influencing the customers of the age group 16 to 27 who has
regarded silver jewelry as the accessory rather than the investment (Saunders, M. N. 2011). The
millennium has witnessed the great change in the taste and preferences of customers.
According to (Rowley, J. 2002), it has been demonstrated that the market for Indian jewelry is in
the phase of transition with the customer's desire for enjoyment of jewelry for the appeal of
aesthetic rather than the investment form. Some researchers conducted research to further
understand the changing needs of the customers along with the aspirations and the motivations of
the customers towards the market of jewelry along with the identification of new opportunities
and trends. The conclusions which were observed from the research were like the generation of
the youngsters were looking at the contemporary and the trendy jewelry and avoiding the

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traditional and the heavy jewelry of gold and diamond. Secondly, the customers wanted a
broader selection at a convenient and individual location along with the great experience of
international shopping (Kotler, P. 2006). Thirdly, the customers were willing in order to
experiment with the new and innovative designs according to the change in time and the
technology. They also stated that the branding is the trend which is irreversible as it provides the
customer a degree of satisfaction and confidence that they are purchasing a high-quality product
of jewelry. It is being observed that the jewelry industry has achieved great success from the past
years because of the maximized demand of the lightweight and the fashionable jewelry (Jain, P.
2016). Further, the import and the export of the jewelry has also been improved to a great extent.
The one of the largest manufacturers of the jewelry in India is the Gitanjali Group, and it
manages the four top known brands of the jewelry. The company is unique and innovative along
with the structured branding and positioning which further endows with the innovative and
unique character and persona of the brand.
Researcher (Singh, J. 2015), stated that the jewelry is the kind of accessory which includes,
rings, watches, necklaces, bracelets, earrings, etc. Jewelry can be designed from the variety of
distinct categories. Initially, jewelry was made from the teeth, bone, and shell around 1, 00, 000
years ago. Later, stone, beads, and gems were incorporated. Egyptians started using metals and
gold in order to make jewelry which was being considered as the symbol of wealth and power.
Furthermore, brands have boosted jewelry with great values including excitement, sexiness and
the fashion rather than the only glamor. It is also being observed that if the customer wants to get
associated with such values, then he is only looking for the branded, lightweight and the
fashionable jewelry (Luís, M. S. G. 2015). The Indian market of jewelry has created strides in
the design which are being powered by the generation of youngsters, trained professionals and

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the designers who are driven by technology. The production facilities of jewelry in the market of
India are being equipped with the unique and latest CAM/CAD and various other advanced
system of designs. Further, the solutions of technology are also available in order to control the
production, management of inventory and the supply chain in the industry of jewelry. The Indian
market of jewelry is a great blend of innovative and modern design and manufacturing
techniques along with the skills of artisan (Sinha, P. K., Thomas, S., & Patel, R. 2015). The
Indian market of jewelry also have a well -developed capabilities, and it is an attractive market
with a great potential in the sector of jewelry. Further, the future of the Indian market of jewelry
is promising because more purchasers across the globe are turning to the country in order to have
a great quality product of jewelry.
According to (Kruse, J. L. 2013), the sector of jewelry plays a great role in the economy of India
by contributing approximately 7 percent of the gross domestic product of the country. It can be
said that the sector of jewelry is one of the fastest expanding sectors. Further, the sector of
jewelry is mainly oriented to exports and is labor intensive. Depending on the potential for the
value and the growth addition, the Indian government has declared the sector of jewelry as an
area of focus for the promotion of export. The country is being known as the hub of the global
market for jewelry due to its reduced cost and the availability of the highly skilled labor. It is
also being observed that the Indian market of jewelry mainly includes the gold and the diamond.
Whereas, the preference of the customers are changing according to the change in technology
and time which is influencing them to use the lightweight and fashionable silver jewelry rather
than heavy gold and diamond jewelry (Gray, L. A., Selbe, J. P., & Wannachai, W. 2015). Also,
customers of the country i.e. India are demanding unique and new varieties and designs in
jewelry along with the strong presence of the brand which will help in fulfilling the change taste

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and preferences of the customers. Furthermore, the increase in the income of per capita has
further led to the maximization in the jewelry sales as the symbol of status. Moreover, predicting
the customer’s purchasing behavior is the responsibility of every business which is driven by the
product. It is essential in order to have the capability to further keep track of the changing trend
of the customers and further assess the desires (Gera, N. 2015). It is necessary to know the
answer to who, why, when, how and where before entering a new market in order to sell the
product and attain sustainability by satisfying the customers and retain them for a longer period
of time.
Researchers (Ramachandran, K. K., & Karthick, K. K. 2014), stated that there is the deal of the
information which influences the customer to purchase particular products and how the buying
relates to the self-image of an individual. Research is prevalent in relation to the tendency of
customers to further select the brand and its high-quality products at the affordable prices. This
further demonstrates that the loyalty of brand is persistent in the buying behavior of customers.
They also stated that the customers buy jewelry in order to maximize their status symbol. It is
being observed that wearing a jewelry of great brand which is popular among the market of
teenage as it is a brand which has promoted its products effectively and efficiently by using the
internet and the traditional methods of marketing are mostly appreciated by the customers.
Moreover, it is being stated that the products of the national brands are being purchased
frequently as compared to the private ones and this is due to the loyalty of brand and the
perception of the quality of the product. Further, branding is an essential activity for the great
development of the company, and it also helps in the acquisition of customers, retention and
develops a favorable and great reputation (Karthikeyan, P. 2015). In today's society which is
driven by technology, it has become more essential for the companies to use the internet with its

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abilities to a great extent even more than it was done in the past. Researchers (Babb, L. A. 2013),
observed that there is the maximizing customer demand for the shopping through online and
minimizing inhibitors in relation to the shopping online for the products of clothing. Due to
increasing demand, the businesses which do not have the secured online option for purchasing
will be soon overlooked and outnumbered, and they will not be able to attain the sustainability in
the market. Also, it is being observed that the online purchasing of the jewelry and the cloths is
mainly done by women and the customers who have the high income. Also, it can be stated that
the tools of social media also plays a great role in order to promote the product and the tools of
social media are transforming the operations of the business and are further becoming the new
era of marketing (Bernstein, B. 2015). Keeping track of the changes in customer's trend and
preferences is essential while creating a new strategy for the business of retail.
Furthermore, it is advantageous to focus on the targeted audience in order to understand that how
the customers see the self -image in relation to the behavior of buying. The prevalence of the
relationships and the attitude towards the particular brand and the image of the brand is the
evidence of how branding and marketing are essential for every kind of product (Manopriya, S.
2015). The Indian market of jewelry has a great scope for Pandora jewelry in order to enter as
the market is mainly focusing on the heavy gold and diamond jewelry. Whereas, the new and
young generation is more attracted and influenced by the lightweight and fashionable silver
jewelry but they are more brand conscious while making the decision for purchase (Suresh, A.
2013).
3. Methodology
Philosophies

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The philosophy of research authorizes the essential assumptions about the individual perspective
of the surroundings. Also, the philosophy of research supports in determining the rules in the
logical procedure of the research and further evaluating and analyzing the data along with the
effective procedure of communication. Furthermore, for this particular research project, the
philosophy of pragmatism is being taken. This included the mix of the various philosophies and
the epistemology, ontology and the axiology is being combined to meet the objectives of
research and find the appropriate solution for the identified research question. Also, the questions
of the research have been answered in the valuable and the realistic way (Guthrie, J., Petty, R.,
Yongvanich, K., & Ricceri, F. 2004). Further, the ontology provides the consideration to the
reality's nature which consists subjectivism and objectivism. This encourages in looking at some
aspects or the factors of various entities which are independent of the approaches of the
individual which are being taken by the entity's actor. The subjectivism helps in understanding
the actual meanings which individual connects to the phenomena of society and is opposite to the
meaning of objectivism. Moreover, axiology is the philosophy aspect which studies the values in
the choices of research since the value offers visible and the appropriate reasons of the actions of
a human. Also, it is essential to differentiate the appurtenant of the personal values to the topic of
research. Epistemology has been described as the knowledge which is acceptable in the
particular field of research. Further, the collection of the information is intelligible. Moreover, in
this particular research project, the philosophy of pragmatist have been used in order to get the
more realistic results and also understand the taste and the preferences of the customers towards
the jewelry. Also, this type of philosophy encourages in covering the various views on the
identified question of the research. Further, the work related to the particular research have been
analyzed appropriately, and the pragmatist philosophy barrels with the appropriate knowledge of

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the particular research. Due to this philosophy, our consultancy company was able to analyze
that how we did the work efficiently and effectively to a best possible extent. The relevancy of
the gathered information which was collected through the secondary and the primary method
was effectively measured in relation to the research topic.
Strategy
The various methods have been adopted in order to gather the information to further meet the
objectives of the research. The methods of data collection that our company of consultancy has
used were the interviews. It is being observed that that there are various types of the interviews
like the unstructured, semi-structured and structured (Bowen, G. A. 2009). Furthermore, this
particular research project has used the semi-structured form of interviews in order to assess the
perception of the leaders of industry who did spend the great amount of the time in the industry
of jewelry. The participants were from the Indian market of jewelry and the international market
of jewelry. Also, the questionnaire was used in order to assess and analyze the suitability of the
company i.e. Pandora in order to enter the Indian market of jewelry. The questionnaire was
having ten questions and was developed and distributed to 50 respondents through the Facebook
and the LinkedIn contacts. Furthermore, the data was gathered from the secondary sources like
the researches which were conducted previously by the various researchers. The gathered
information was used in order to understand the jewelry market of India and the suitability to
further enter the Indian market with the appropriate and the effective strategy. Also, the
information will be gathered from the various agencies of research in order to complete the
research effectively and efficiently. Further, the MS excel which is the tool of statistics was
utilized in order to analyze the gathered data, and the interpreted analysis was demonstrated in
the form of graphs and the charts which would be beneficial for the client to understand. The

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gathered data was used to determine the research’s findings. The analysis of data utilized the
procedure of the statistics in order to interpret and analyze the data ethically by respecting the
respondents as well. The hypothesis was not done in writing, and it was assumed during the time
of gathering and analyzing the data. The quantitative and the qualitative research was suitable for
this kind of research project to get the best results in order to enter the new market effectively
and efficiently. It is being observed that the strategy of gathering the data and the responses is
appropriate for this project and help the company Pandora to enter the jewelry market of India by
satisfying the younger generation.
Design
In this research project, the two types of the methods are being used in order to gather the
information i.e. secondary and the primary method of research. Further, the primary method of
research includes the collection of the data along with the assessment in order to reach the
realistic results for the better understanding of the client. The disadvantage of this particular
method is that it consumes time and further require investment in monetary aspects. It enables
the researcher to further look after the solutions which are required in order to complete the
research effectively and identify the appropriate set of the data. Moreover, the secondary
research is known as the desktop research in which the various sources through online are being
accessed in order to meet the objectives of the research (Gubrium, J. F., & Holstein, J. A. 2002).
Further, this particular research project will include the mixed methods of research which are
required to meet the research objectives. The combination of the secondary and the primary
methods of research ensured that the objectives of the research are successfully met. This
enabled the approach of flexibility to collect the data and achieve the objectives. The secondary
method of research included the approach of case study to further understand and analyze the

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position of the existing business in the Indian market of jewelry to understand the present
scenario of the market along with the various challenges. Further, the approach of case study
helped in gaining insight to the present condition of the market. Also, this approach helped in
determining the factors which are closely connected to the failure or the success of the
businesses in the jewelry market of the country i.e. India. The analysis of the data was conducted
relying on the kind of method which was used to gather the data. The data was being gathered
through the interviews which used the content analysis of thematic to further understand and
analyze the orientation. Also, the data was gathered from the survey and was analyzed by using
the statistical tool i.e. MS excel and were further represented in the form of charts and the graphs
for the better understanding of the client.
Implementation
Our company of consultancy had created an effective and the efficient plan to further complete
the research appropriately for the client. We identified the appropriate objectives of the research
according to the topic to further ensure that the objectives are being met effectively and
efficiently. Then we determined the scope and accordingly the requirements were defined.
Furthermore, the information was collected from the secondary sources and we collected the data
through the books, journals and the reports of the business to further understand the activities and
the operations of the company, and also we unfolded the opportunities which are available for
the Pandora in order to explore and further expand the business and the operations in the Indian
market of jewelry. The information was also collected from the primary sources like from the
interviews and the questionnaire. The survey was circulated online in order to gather the
responses from the respondents. The data from the 50 respondents was gathered to further come
up with more realistic interpretations. Moreover, the data which was collected from the

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secondary method of research was demonstrated by using the management analysis tools i.e.
PESTEL and the SWOT analysis. Further, the tools are used to determine the effect of the
external and the internal environment of the activities and the operations of the Pandora. The
recommendations were given to further improve the strategies while entering the Indian market
of jewelry by ensuring the objectives of the research are being met successfully to further
provide the adequate information to the client. To complete the research efficiently and
effectively, the resources were used optimally and within a given budget without causing any
wastage. The personnel of our consultancy firm further worked efficiently and effectively by
taking a complete advantage of their knowledge and experience to finish the project
appropriately.
4. Data collection, analysis, discussion
SWOT Analysis
 Strengths
 Pandora is the essential player and the leading brand in the category of the bracelet.
 The company has a strong hold in the jewelry market of America.
 The company has reduced CAPEX as the sales percentage.
 The company has the greatest turn of stock.
 The company has great positioning by providing high-quality jewelry products to the
customers (Hines, T., & Halpin, D. 2016).
 Weaknesses
 The navigation process of the company is very complicated.
 The company’s model of wholesale means reduced knowledge.

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 The company has the narrow focus on the product.
 Some customers have not even tried the brand as they are not aware of the products.
 Opportunities
 The sector of jewelry is attaining momentum.
 There are various geographies which are offering high potential for the company in order
to grow.
 The opening of stores in the markets which is developed is still viable.
 Upgrading the present stores.
 Diversification of product (Fortmann, J., Root, E., Boll, S., & Heuten, W. 2016).
 Potential for online sales.
 Threats
 Higher prices of the raw material
 Competition is widely defined.
 Copying the products of Pandora requires continuous surveillance (Alaniz, J. 2014).
PESTEL Analysis
 Political factors
The major political factors which are impacting the Indian market of jewelry are the excise duty
as the Indian government has minimized the excise duty from around 10 percent to around 5
percent on polished and cut units of the diamond. According to the control and the marketing of
orders, the council offers information of the market to the members in relation to the inquiries of
foreign trade, regulations of tariff and trade, duties of import along with the rates. Also, India is

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the favored destination for the FDI and the Indian government permits around 50 percent of the
FDI in the industry of jewelry.
 Economic factors
The per capita uses the customer’s power which greatly impacts the market of jewelry. Further,
the income of per capita is likely to increase as compared to the past few years. Also, the income
of per capita in accordance to the estimates for income is being assumed to expand by 15 percent
during the present fiscal (CHITRA, B., & VINODHINI, M. 2017). Also, it is being observed that
the national income of the customers of country maximizes, then it indirectly causes investment
in the market of jewelry. Further, various presentations to the government have been made by the
council on the customs duty exemption on the jewelry.
 Social factors
The emergence of the retail organizations encourages people in order to be aware of the different
styles and the types of jewelry and consider it as the option of investment. Furthermore, due to
the emergence of the substitute products the diamond is mostly preferred by the customers along
with the maximization in the prices. Also, due to the changes in the preference of customers, the
increase in the living of standards changes the taste and the perception of the customers towards
the jewelry. For example, the young generation is getting more influenced by the western
culture, so they are more attracted towards the lightweight and the fashionable silver jewelry.
 Technological factors
The Indian industry of jewelry is attempting to improve their value chain by focusing on the
advanced and innovative technology and equipment. Furthermore, the solutions of the
technology are available for the control of production along with the chain of supply in the

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industry of jewelry. The special zones of the economy are being created in many states which
provide an environment which is enabled by the technology which is conductive to expansion
and the production.
 Environmental factors
It is being observed that the situation of every country is different according to the kind of
gemstones which are being used and exploited (Rao, I. 2016). Further, the processing of the
gemstones which are mined is different from one gem to the other which later occurs as the
different crystals consisting sorting of hands through the aid of the various visual features of the
particular gem. Moreover, it is being observed that the environment is not highly impacted due to
the making of silver jewelry and the company like Pandora have various opportunities in order to
enter the Indian market of jewelry.
 Legal factors
It has been observed that the council of the country undertakes the various activities in order to
promote the brand and the products. Furthermore, various institutions have been run by the
council that offers training in various aspects of designing and manufacturing the jewelry
(Dauriz, L., & Tochtermann, T. 2016). Also, the country is not having such legal issues in order
to sell the products of jewelry in the market, and there are no such legal factors or legislations
which are to be followed while promoting the products of jewelry in the country in order to
attract and influence the customers.
Survey analysis
1. Age
Age (years) Number of respondents
Less than 20 3

19
Between 20-24 16
Between 25-29 12
Between 30-34 11
Between 35-39 6
40 and above 2
less than 20 between 20-24 between 25-29 between 30-34 between 35-39 40 and above
0
2
4
6
8
10
12
14
16
18
Age
number of respondents
It can be understood from the above interpretation that the people between the ages 20-24
answered our questions more and they are being followed by people between the ages 25-29.
Further, the main respondents are the professionals and the students, and they play an important
role in order to decide that whether the company should enter the Indian market of jewelry or
not.
2. Income

20
Income ($) Number of respondents
less than $20,000 2
Between $20,000 -$45,000 15
Between $45,000-$60,000 19
$60,000 and above 14
less than $20,000 between $20,000-
$45,000 between $45,000-$
60,000 $60,000 and above
0
2
4
6
8
10
12
14
16
18
20
income
number of respondents
It can be understood from the above interpretation that the people who are having income
$45,000-$60,000 answered our questions and they are being followed by people who are having
income $20,000-$45,000. Further, it is being observed that the people of every age group wear
jewelry in the country i.e. India.
3. Gender
Gender Number of respondents
Male 12

21
female 38
male female
0
5
10
15
20
25
30
35
40
gender
number of respondents
It can be understood from the above interpretation that the people who answered our research
questions included 38 females and 12 males that demonstrates that the number of the females is
much greater as compared to the males who purchases the jewelry irrespective of their reasons
for the purchase. It can also be stated that the company should consider this factor in order to
make the decision to further enter the Indian market of jewelry.
4. I use the internet to find the latest trend of the jewelry.
Number of responses Number of respondents
Strongly agree 7
Agree 19
Neutral 5
Disagree 10

22
Strongly disagree 9
strongly agree agree neutral disagree strongly disagree
0
2
4
6
8
10
12
14
16
18
20
internet is used to find the latest trend of the jewelry
number of respondents
It can be understood from the above interpretation that 19 respondents agreed to the question that
they use the internet in order to identify the latest trend of the jewelry. Further, 7 respondents
strongly agree to it. Whereas, 10 respondents disagreed to the questions and 5 of them were
neutral. Therefore, this factor can be considered by the company in order to make the decision
about the entry into the new market as it offers both online and offline products and the services.
5. I prefer to make purchases of jewelry through online.
Number of responses Number of respondents
Strongly agree 6
Agree 20
Neutral 3

23
Disagree 18
Strongly disagree 3
strongly agree agree neutral disagree strongly disagree
0
5
10
15
20
25
prefer to make purchases through online
number of respondents
It can be understood from the above interpretation that 20 respondents agreed to the question that
they prefer to make purchases of jewelry through online rather than visiting the stores. Further, 6
respondents strongly agree to it. Whereas, 18 respondents disagreed to the questions and 3 of
them were neutral. Therefore, this factor can be considered by the company in order to make the
decision about the entry into the new market as it offers both online and offline products and the
services.
6. I prefer to see the product of jewelry in an offline store before making a purchase
decision.
Number of responses Number of respondents
Strongly agree 4
Agree 22

24
Neutral 5
Disagree 17
Strongly disagree 2
strongly agree agree neutral disagree strongly disagree
0
5
10
15
20
25
prefer to see the product in an offline store before making
purchase decision
number of respondents
It can be understood from the above interpretation that 22 respondents agreed to the question that
they prefer to see the products in the stores before making the decision in order to purchase the
jewelry. Further, 4 respondents strongly agree to it. Whereas, 17 respondents disagreed to the
questions and 5 of them were neutral. Therefore, this factor can be considered by the company to
a great extent.
7. The brand and the style are the essential criteria for me to make the decision to purchase
jewelry.
Number of responses Number of respondents
Strongly agree 4

25
Agree 19
Neutral 9
Disagree 15
Strongly disagree 3
strongly agree agree neutral disagree strongly disagree
0
2
4
6
8
10
12
14
16
18
20
brand and style are essential criteria
number of respondents
It can be understood from the above interpretation that 19 respondents agreed to the question that
the brand and the style are the important factors which influence the people in order to purchase
the jewelry. Further, 4 respondents strongly agree to it. Whereas, 15 respondents disagreed to the
questions and 9 of them were neutral. Therefore, this factor can be considered by the company to
a great extent.
8. I prefer lightweight and the fashionable silver jewelry more as compared to gold and
diamond jewelry.
Number of responses Number of respondents

26
Strongly agree 6
Agree 27
Neutral 4
Disagree 14
Strongly disagree 5
strongly agree agree neutral disagree strongly disagree
0
5
10
15
20
25
30
prefer silver jewelry more in comparison to gold and
diamond
number of respondents
It can be understood from the above interpretation that 27 respondents agreed to the question that
people prefer lightweight and the fashionable silver jewelry in comparison to the diamond and
the gold jewelry. Further, 6 respondents strongly agree to it. Whereas, 14 respondents disagreed
to the questions and 4 of them were neutral. Therefore, this factor can be considered by the
company as this is the advantageous factor.
9. I purchase silver jewelry more than once a month.

27
Number of responses Number of respondents
Strongly agree 7
Agree 22
Neutral 6
Disagree 13
Strongly disagree 2
strongly agree agree neutral disagree strongly disagree
0
5
10
15
20
25
purchase silver jewelry more than once a month
number of respondents
It can be understood from the above interpretation that 22 respondents agreed to the question that
they purchase silver jewelry more than once a month irrespective of their personal reasons
behind purchases. Further, 7 respondents strongly agree to it. Whereas, 13 respondents disagreed
to the questions and 6 of them were neutral. Therefore, this factor can be considered by the
company to a great extent.
10. I follow western culture more as compared to the traditional culture in India.

28
Number of responses Number of respondents
Strongly agree 7
Agree 24
Neutral 6
Disagree 8
Strongly disagree 5
strongly agree agree neutral disagree strongly disagree
0
5
10
15
20
25
30
follow western culture more in comparison to traditional
culture
number of respondents
It can be understood from the above interpretation that 24 respondents agreed to the question that
they follow the western culture more in the country i.e. India as in comparison to the traditional
culture. Further, 7 respondents strongly agree to it. Whereas, 8 respondents disagreed to the
questions and 6 of them were neutral. Therefore, this factor can be considered by the company to
a great extent.
11. I wear silver jewelry on a regular basis.

29
Number of responses Number of respondents
Strongly agree 6
Agree 19
Neutral 13
Disagree 8
Strongly disagree 4
strongly agree agree neutral disagree strongly disagree
0
2
4
6
8
10
12
14
16
18
20
wear silver jewelry on regular basis
number of respondents
It can be understood from the above interpretation that 19 respondents agreed to the question that
they wear silver jewelry on the regular basis. Further, 6 respondents strongly agree to it.
Whereas, 8 respondents disagreed to the questions and 13 of them were neutral. Therefore, this
factor can be considered by the company to a great extent.
12. I am brand conscious while making a decision to purchase the jewelry.
Number of responses Number of respondents

30
Strongly agree 8
Agree 17
Neutral 4
Disagree 13
Strongly disagree 8
strongly agree agree neutral disagree strongly disagree
0
2
4
6
8
10
12
14
16
18
brand consious while making purchase decision
number of respondents
It can be understood from the above interpretation that 17 respondents agreed to the question that
they are brand conscious while making a decision in order to make purchases for the jewelry.
Further, 8 respondents strongly agree to it. Whereas, 13 respondents disagreed to the questions
and 4 of them were neutral. Therefore, this factor can be considered by the company to a great
extent.
13. I like a silver necklace and earrings more as compared to silver bracelets.
Number of responses Number of respondents

31
Strongly agree 7
Agree 19
Neutral 8
Disagree 11
Strongly disagree 5
strongly agree agree neutral disagree strongly disagree
0
2
4
6
8
10
12
14
16
18
20
preference to silver necklace and earrings more as
compared to bracelets
number of respondents
It can be understood from the above interpretation that 19 respondents agreed to the question that
they prefer necklaces and the earrings more in comparison to the silver bracelets. Further, 7
respondents strongly agree to it. Whereas, 11 respondents disagreed to the questions and 8 of
them were neutral. Therefore, this factor should be considered seriously as the company mainly
deals in the silver bracelets.
5. Conclusion and recommendation

32
It can be understood from the above-given analysis and the results that the perception of the
consumers plays the essential role when it comes to expansion of the business by entering the
new market of another country. Moreover, it is essential for the company Pandora in order to
take the responses of the customers seriously to further enter the market of jewelry in India.
Also, the objectives of the research project are completely met (Pandora Bracelets. 2017).
Firstly, the present situation of the company i.e. Pandora is being analyzed by using the SWOT
analysis. It is being observed that the company is having a great brand image as it offer silver
jewelry mainly bracelets to the customers through online and offline and the products have a
great quality and are easily affordable, and the unique designs and the styles help in attracting the
customers to a great extent. Secondly, the environment of the Indian market of jewelry is being
analyzed and observed through the PESTEL analysis which helped in giving a clear view that
what actually happens in the country and how the market is being governed by the government
of India and the customers. Further, it is being observed that the young generation is being
influenced by the western culture and they like to wear silver jewelry more in comparison to the
traditional old and the diamond jewelry. Thirdly, the competitive edge of the company Pandora
is being analyzed through gathering the responses of the people through online. It is being
observed that due to the change in time and technology, people are adapting western culture
which is the positive sign for the company to enter the Indian market of jewelry. Also, the
customers of the country prefer to view the products of jewelry in the offline stores before
making the purchases which will be an advantage for the company as it offers products through
both offline and online ways. Lastly, the strategies are being identified through the primary
method of data collection which will be appropriate for the company in order to expand its
business by entering the Indian market of jewelry like the company should start offering silver

33
necklaces and the earrings in order to attract more customers. Also, the company should offer
low prices for the innovative designs of jewelry initially in order to attract the customers. It can
be stated the solution for the identified research question is being identified.
Moreover, the recommendations are being made in order to which will help the company to enter
the market effectively and efficiently.
 The company should start offering the silver necklace and the earrings as it presently
deals in silver bracelets only. But, the people of India prefer necklace and the earrings
more as compared to the silver bracelets. This will help the company to target more
customers as people prefer silver jewelry more in comparison to the traditional diamond
and the gold jewelry. Also, this will help the company to create the customer loyalty base
which will influence them to develop them to try the jewelry products of the new
company i.e. Pandora.
 The company should market the products of jewelry by showcasing them to the
customers through online by using the help of social media platform. This will help the
people of the country to become familiar with the jewelry products of the company which
they are going to offer in the country (Trainor-Smith, S., & Méndez, M. H. 2016). This
will help the company to attract more customers than expected and further create
awareness among them. Also, the prices of the products showed be given below the
images of the products, and they should be affordable at the initial stage, and due to this,
the customer would at least give a try to the products of jewelry.
 The company should ensure that they are providing lightweight and the fashionable
products of the jewelry along with the high quality as the silver jewelry is mainly
preferred by the young generation and they are conscious about the brand and the style

34
while making a decision in order to purchase the jewelry. Moreover, people prefer to
wear jewelry on a regular basis. So, it is essential that the jewelry is lightweight so that it
can be worn on the regular basis.
 The company can use the schemes of discount at the initial stage after entering the market
of jewelry in order to attract the customers. Further, it is being observed that the people
are attracted to the companies which offer discounts or some various other schemes if
they make the purchases (Chaurasia, M. S., & Sengupta, M. I. 2016). This will help the
company Pandora to promote their brand and the products of jewelry to a great extent,
and they will be able to attain the sustainable competitive edge for a longer period of time
along with the maximization of the profitability.
6. Reflective report
I had a great experience while working on this particular project of the research. Further, I have
increased my knowledge about many things, and also I have learned that how we should react in
the unpredictable situations by dealing them with patience in order to come out with the flying
colors. Moreover, when I started working on this particular project, I was confident enough that I
will be able to meet all the objectives of the research project and I have identified the realistic
solutions for the company Pandora which will help the company to take the decision of entering
the Indian market of jewelry. I am always ready to analyze and interpret the perceptions of the
customers in the different scenarios in order to understand that how their perspectives change
according to the change in time and the technology. Also, I have understood the essential
elements of the company which is to be considered while expanding the business and entering
into a completely different market with the different tastes and the preferences of the customers.

35
Moreover, I faced various difficulties in order to collect the data through online as some people
were not willing to give their responses and some of them gave the neutral responses which
made me believe that I would not be able to get the realistic solutions for the client. Further,
there was no personal interaction with the respondents, and I was handling their issues through
online only. Also, I believe that I could have taken the larger size of the sample to get further to
know more about the taste and the preferences of the customers in the country i.e. India.
Therefore, I received complete guidance from my professor and the friends in order to complete
the report efficiently and effectively, and I am looking forward to more opportunities in order to
conduct research in a more realistic way.

36
7. REFERENCES
Alaniz, J. (2014). Death, Disability, and the Superhero: The Silver Age and Beyond. Univ. Press
of Mississippi.
Babb, L. A. (2013). Emerald City: The Birth and Evolution of an Indian Gemstone Industry.
SUNY Press.
Bernstein, B. (2015). one tyPe of Boundary [ies]. Indian Detours: Tourism in Native North
America, 45, 153.
Bowen, G. A. (2009). Document analysis as a qualitative research method. Qualitative research
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Boyd, D. R. (2015). Optimistic Environmentalist, The: Progressing Towards a Greener Future.
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Chaurasia, M. S., & Sengupta, M. I. (2016). A Study of Customer Satisfaction on Services
Provided by International Gemological Institute (IGI) Surat. Adhyayan: A Journal of
Management Sciences, 5(2).
CHITRA, B., & VINODHINI, M. (2017). A Study on Customer Preference Towards Branded
Jewellery. Global Journal For Research Analysis, 5(9).
Dauriz, L., & Tochtermann, T. (2016). Jewelry 2020–On the Heels of
Apparel. Luxusmarkenmanagement: Grundlagen, Strategien und praktische Umsetzung, 201.

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Fortmann, J., Root, E., Boll, S., & Heuten, W. (2016, June). Tangible Apps Bracelet: Designing
Modular Wrist-Worn Digital Jewellery for Multiple Purposes. In Proceedings of the 2016 ACM
Conference on Designing Interactive Systems (pp. 841-852). ACM.
Gera, N. (2015). RETAILERS AND CUSTOMERS PERCEPTION TOWARDS BRANDED
GEMS AND JEWELRY: A COMPARATIVE STUDY. BUSINESS REVIEW (GBR), 60.
Gray, L. A., Selbe, J. P., & Wannachai, W. (2015). U.S. Patent No. 8,950,214. Washington, DC:
U.S. Patent and Trademark Office.
Gubrium, J. F., & Holstein, J. A. (2002). Handbook of interview research: Context and method.
Sage.
Guthrie, J., Petty, R., Yongvanich, K., & Ricceri, F. (2004). Using content analysis as a research
method to inquire into intellectual capital reporting. Journal of intellectual capital, 5(2), 282-
293.
Hines, T., & Halpin, D. (2016). U.S. Patent No. D758,239. Washington, DC: U.S. Patent and
Trademark Office.
Jain, N. ADVERTISING: STARDOM OF JEWELRY BUSINESS. Raj Kumar Bakar & Dinesh
Kaushik, 318.
Jain, P. (2016). Tanishq: Managing Turnaround. Partridge Publishing.
Karthikeyan, P. (2015). A Study on Purchasing Pattern and Behaviour towards Jewellery in
Erode City. i-Manager's Journal on Management, 10(2), 43.
Kotler, P. (2006). Pfoertsch W.. B2B Brand Management.

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KOTLER, P., & ARMSTRONG, G. (2005). Principles of Marketing Principles of Marketing.
11th (Doctoral dissertation, ed.[S. l.]: Prentice-Hall).
Kruse, J. L. (2013). U.S. Patent Application No. 14/034,759.
Luís, M. S. G. (2015). Equity valuation of PANDORA.
Manopriya, S. (2015). A STUDY ON CUSTOMERS'PREFERENCE AND SATISFACTION
TOWARDS IMITATION JEWELLERIES OF SELECTIVE SHOPS IN COIMBATORE
CITY. International Journal of Management, IT and Engineering, 5(5), 193.
Pandora Bracelets. (2017). Fortune.com. Retrieved 8 April 2017, from
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http://www.pandora.net/en-gb/company/about
Ramachandran, K. K., & Karthick, K. K. (2014). A Study on the Perception of Customers
towards Branded Jewelry. In Proceeding of Annual Tokyo Business Research Conference.
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Saunders, M. N. (2011). Research methods for business students, 5/e. Pearson Education India.

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Suresh, A. (2013). A review on gold quest in the investment portfolio by Indian investors.
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Titova, A. (2011). Creating Customers’ Profile for ART-Stone Jewelry Company.
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Trainor-Smith, S., & Méndez, M. H. (2016). U.S. Patent No. 9,392,889. Washington, DC: U.S.
Patent and Trademark Office.

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8. APPENDICES
Questionnaire
Name:
Age: less than 20 years Gender: male/female
Between 20-24 years
Between 25-29 years
Between 30-34 years
Between 35-39 years
40 and above
Income: less than $20,000
Between $20,000 -$45,000
Between $45,000-$60,000
$60,000 and above
By completing the survey you are providing consent to further use the data in order to understand
the available opportunities for the Pandora to enter the Indian market of jewelry. Thank you!
Please give the ratings to the things that are shown below as per our taste and preference:
1- Strongly agree
2- Agree

41
3- Neutral
4- Disagree
5- Strongly disagree
Questions 1 2 3 4 5
1. I use the internet to find the latest trend of the
jewelry.
2. I prefer to make purchases of jewelry through
online.
3. I prefer to see the product of jewelry in an offline
store before making a purchase decision.
4. The brand and the style are the essential criteria for
me to make the decision to purchase jewelry.
5. I prefer lightweight and the fashionable silver
jewelry more as compared to gold and diamond
jewelry.
6. I purchase silver jewelry more than once a month.
7. I follow western culture more as compared to the
traditional culture in India.
8. I wear silver jewelry on regular basis.
9. I am brand conscious while making a decision to
purchase the jewelry.
10. I like silver necklace and earrings more as
compared to silver bracelets.

42
Ethical approval form
Business School Application for Ethical Approval for Taught Degrees
June 2012
This form should be completed for any research involving primary data collection conducted by students on taught degrees of
the Business School. This procedure particularly aims to minimize ethical issues where the primary data involves human data
and includes human beings and their records (such as medical, genetic, financial, personnel, criminal and test results including
scholastic achievements). Please note that no research may be conducted in the Business School where participants are
children.
A copy of this application will be retained by the School for up to 6 years. The Business School will provide summary
information to University’s Research Ethics Committee (UREC) and will provide further information to UREC as requested.
1. Title of project:
To understand the opportunities available for Pandora Jewelry to enter into Indian market directly
2. This Project is:
UG Research linked to Taught Course* UG Dissertation*
PG Research linked to a Taught Course* PG Dissertation*
*May require University UREC approval – if this is the case, then a new application using the UREC form will be required.
PLEASE ENSURE THAT THIS FORM IS APPROVED BEFORE COMMENCING RESEARCH. IF NOT, YOUR RESEARCH
MAY BE SUSPENDED WITH IMMEDIATE EFFECT.
3. Principal Investigator(s):
Family Name: Given Name: Banner ID: Programme:
4. Details of the Project
Proposed start date: February 20, 2017 Probable duration:
Brief outline of project (Describe the objectives and methods. Write approx 150 words in everyday language)
The objective of this research paper is to understand the current situation of Pandora in the International
market and the current jewellery environment of India. Apart from that, the existing competitors of Pandora
will be assessed who are active in the Indian market. Moreover, suitable strategies will be suggested for
Pandora to enter and expand in the Indian Jewellery market. Also, recommendations will be given for
improvements based on the overall assessment.
5. Will the research involve primary data collection?
Yes No (if ‘no’ go to Question 10)
Will the research involve human participants?
Yes No (if ‘no’ go to Question 10)
6. Could the participants be considered to…
a) be vulnerable? (e.g. mentally ill?) Yes No
b) feel obliged to take part? (e.g. employees in organisationally sponsored projects)
Yes No

43
If the answer to either of these is ‘yes’, please explain how ethical considerations will be minimised

44
7. If the research generates data relating to individuals (e.g. interview quotes or unique questionnaire
responses), describe the arrangements for maintaining anonymity and confidentiality
The personally identifiable information will not be taken from the respondents. The information such as
gender, age, and other such information will be taken. The information that can identify the individual will not
be in the questionnaire such as their name, address, etc.
8. Describe the arrangements for storing data and maintaining its security as part of the project.
The data will be stored in the Google Drive which will be password protected and only the researcher will
have access to those information. No information will be kept on the retrievable drive that can be easily
accessed by other individuals. Also, analysis will be done on the personal computer and no public computer
will be used for this purpose.
It is a requirement of the Data Protection Act 1998 that individuals are aware of how information about them is
managed. Tick to confirm participants will be informed of data access and security arrangements.
9. Describe how will participants be informed of the research project’s objectives, purpose and Data
Protection Act compliance (per question 8) Please attach a participant information sheet.
The information will be given along with the questionnaire that will be given to them. For the interview, the
candidates will be informed of this act prior to commencement of interview.
10. If the research is going to be conducted within the University or its subsidiaries or partners, which Manager
or Officer of the institution has granted access?
The research has been approved by our respective department.
11. If there are other relevant issues that have not been mentioned in this form please note them below:
Relevant issues have been mentioned.
12. Declaration of Principal Investigator:
1. The information contained in this application, is, to the best of my knowledge, complete and correct. I/we have read
the University of Greenwich’s Research Ethics Policy and accept responsibility for the conduct of the procedures set
out in this application in accordance with it. I/we have attempted to identify all risks related to the research that may
arise in conducting this research and acknowledge my/our obligations and the rights of the participants.
2. I have discussed the project with my proposed academic supervisor or course leader, and she/he indicates they have
approves the planned research.
Signature(s): ...........................................................................(please insert an image of your signature)