Annasaheb Magar College

Name: Gaikwad Hritika Uday

Class: TY BBA
Specialization: Marketing

Project Name: Loyalty

Program for Customers

Outlet Name: Jyotichand

Bhaichand Jewellers LLP
OBJECTIVE OF STUDY:
My Objective of study about this outlet is to:
1)Understand the Loyalty program strategy of
Jewellers
2)Understand customer mindset towards
Loyalty Program
3)Understand Marketing Team work for
Loyalty Program
4)Get Knowledge about business competition
5)To study the sales Promotion tools.
6)To study how to Target New Customers.
7)To study how to Retain Existing Customers
and how to convert new customers to
regular ones.
8)To study how to Develop Brand Loyalty.
9)To study how to Increase Sales and Profit.
INTRODUCTION:
Jyotichand Bhaichand Jewellers LLP is a Retail
Jewellery showroom having its strong roots from
200 years. It was started by Chandulal Jyotichand
Shaha in 1827 by the name of his father i.e.,
Jyotichand Bhaichand Shaha at Baramati, further
their branches are established at Phaltan,
Pandharpur, Hadapsar and Saswad.
Jyotichand Bhaichand Jewellers LLP is
serving customers from last 13 years in Hadapsar,
Pune and from last 3 years in Saswad, it is a LLP
firm.
It is best known for Baramati’s Pure Gold.
They sell Gold, Silver, Forming as well as Diamond
Jewellery, Rashi Ratnas. Available Gold caret here
are 24ct (99.9 %), 23.5ct (98%), 23ct (95.8%) 22ct
(91.6%).
Their motive is to attract new buyers and also
retain the old ones by providing the best purity
ornaments, also customized Jewellery and giving
personalized services to individual customers.
Also they are socially accountable by practicing
corporate social responsibility.

Family Tree of
Jyotichand Bhaichand Jewellers LLP

Jindatta Shaha Jambukumar Shaha

Shantikumar Shrenik Padma

Shaha Shaha Shaha

Swapnil Shaha Kaushal Shaha

Aushumalin Shaha
COMPANY PROFILE

General Business Information

Business Name: Jyotichand Bhaichand
Jewellers LLP
Firm Address : Sr No.230, Nalband Market,
Opposite Hadapsar Bhaji Mandai, Pune - Solapur
Road, Pune, Maharashtra 411028.
Business Details Date of Incorporation:
17/10/2008
Main Areas of Activities of Business:
Hadapsar and Saswad
Main Products: Gold, Silver, Forming and
Diamond Jewellery along with Rashi Ratnas.
Main Services: Jewellery
OWNER DETAILS

Mr. Swapnil Shrenik Shaha

Phone no. 9822094738
Email Address: swapnilshaha@gmail.com

Partners

Mrs. Mukulika Swapnil Shaha

Phone no. 9922218893
Email Address: mukulika@gmail.com
Mission Statement:
Expect the Extraordinary
Vision / Goal: Their vision is to be one of the most
popular and trustworthy Jewellers through the
feedbacks given by their Customers
Motto - To provide the most professional,
informative, dedicated and prompts service in the
Jewellery industry.
Specialities:
Gold Vedhani, Gold bar, Ornaments handmade as
well as machine made Jewellery
Karat Meter Machine Facility for checking purity
of ornaments
Purity wise rates for Silver Ornaments and
Utensils
Various Schemes and Programmes
INVENTORY PROCESS
Inventory Process Start To Finish
Following are the Steps Involved in Inventory
Process of Jewellery Showroom
A. Pre-Selling Steps
To survey about the trending patterns of
Jewellery in the market.
To meet various vendors and Goldsmiths.
To choice and Purchase Ornaments as per order
and requirement of the showroom.
To Hallmark all the purchased ornaments
To Label and put tags on all the hallmarked
ornaments
To transfer labelled ornaments to the respective
counters in the showroom

B. Steps during selling of Ornaments

To make sure that all the staff members are
aware of appropriate Jewellery Information
and Company Policies
To make sure that all the interiors and
exteriors of showroom are made attractive to
the customers
To make sure all equipments in the
showroom are properly working
To welcome customers make them feel
comfortable in showroom environment by
serving them hot/cold beverages, diverting
them to respective counters as per their
requirement
After the finalisation of ornament, make
customers aware of different schemes,
diverting them to billing desk
COMPANY STRUCTURE CHART
Accounts Department:
The Accounts department conducts management
of the company’s cash flow and ensure that there
are sufficient funds available to meet the day to
day payments.
Human Resources and Administration
Department:
The HR department manages staff recruitment
and training, record keeping, compensation and
benefits, insurance, and employee relations
Payroll and event management in the showroom
In general, the Admin is responsible for the
planning of Loyalty Programmes. This includes
conducting surveys, engaging in research,
analyzing results, planning the schemes,
programmes.

Purchasing Department:
Purchasing department’s main role is purchasing
supplies and ornaments to meet customer
requirements. They need to compare among
different vendors and finding the ornaments with
correct prices and purity.
Managers:
Managers are responsible for managing discipline
and promote sales staff to boost sale. The Sales
manager needs to decide the Sales Target, assign
duties to employees, oversee the safety of
jewellery. They need to make sure that the
customers are satisfied by the products and
service of company.
Marketing Team:
The marketing team conducts market research,
Designs marketing strategy, sales, advertising,
promotion, pricing, product development, and
public relations activities.
Sales Team:
The Sales Team is the real face of organisation
The image of firm in the mind of customers is the
result of service given by the selling team. They
need to satisfy customers by sharing appropriate
knowledge about the products and guidelines to
use ornaments properly as sometimes acids and
cosmetics can affect the finishing and polish of the
jewellery
CONCLUSION:
The retail seller needs to understand product
trend, how strong its roots set in the marketplace
and how it measures up against competition.
They also need to understand how each type of
Product impacts the buyer. Through this an
appropriate marketing plan can be drawn up to
attract more customers at each stage of the
selling process.
 Loyalty
Program

Marketing strategy is a process that can allow an

organization to concentrate its limited resources
on the greatest opportunities to increase sales
and achieve a sustainable competitive advantage.
A customer loyalty program is a program run by a
company that offers benefits to frequent
customers. Those benefits may be in the form of
discounts, rebates, free products, or other
promotions. An effective customer loyalty
program rewards customers who buy from a
business on a regular basis, encouraging the
customer to return frequently. A loyalty
program is a marketing strategy designed to
encourage customers to continue to shop at or
use the services of a business associated with the
program. Today, such programs cover most types
of commerce, each having varying features and
rewards schemes, including in banking,
entertainment, hospitality, retailing and travel.
A loyalty program typically involves the operator
of a particular program set up an account for a
customer of a business associated with the
scheme, and then issue to the customer a loyalty
card (variously called rewards card, points card,
advantage card, club card, or some other name)
which may be a plastic or paper card, visually
similar to a credit card, that identifies the
cardholder as a participant in the program. Cards
may have a barcode to more easily allow for
scanning, although some are chip
cards or proximity cards.
By presenting a card, customers typically receive
either a discount on the current purchase or an
allotment of points that they can use for future
purchases. Application forms for cards usually
entail agreements by the store concerning
customer privacy, typically non-disclosure (by the
store) of non-aggregate data about customers.
The store uses aggregate data internally (and
sometimes externally) as part of its marketing
research. Where a customer has provided
sufficient identifying information, the loyalty card
may also be used to access such information to
expedite verification during receipt of cheques or
dispensing medical prescription preparations, or
for other membership privileges such as access to
an airport lounge using a frequent-flyer card. In
recent years, businesses now offer these loyalty
cards in the form of a loyalty app, which means
users are less likely to lose their cards.
Loyalty programs have been described as a form
of centralized virtual currency, one with
unidirectional cash flow, since reward points can
be exchanged into a good or service but not into
cash.

Purpose of a Customer
Loyalty Program
Loyalty programs have several goals: increase
business, improve sales, strengthen the
relationship between the customer and the
business, and keep the customer coming back on
a regular basis. One important element of
meeting these goals is ensuring the program has a
benefit to the customer. If the rewards of the
program are unattractive or uninteresting to
clients, the program may see little success.
However, if the benefits are enticing, the program
can help increase sales and encourage customers
to return for their next purchase.

Criticism
Some companies complain that loyalty programs
discount goods to people who are buying goods
anyway. Moreover, the expense of participating in
these programs rarely generates a good return on
investment

How to start a customer

loyalty program?
The first step should always be to make sure you
know what your loyalty rewards program will look
like. Will it meet a long-term business need? How
can you ensure a seamless fit with your brand
identity? Do you know what your customers want
from a loyalty program?

Using these insights and answers, you can then

start to build and launch the program. By using a
dedicated loyalty program platform.
What are the five main
benefits of loyalty programs
for retailers?
1. Stop competing on price
with competitors
Today, it’s too easy for discerning shoppers to
compare hundreds of prices in just a few clicks. If
they’re only thinking about the products, you sell
instead of your store and brand, then you’ll find
yourself in a pricing race to the bottom. And it’s
the larger stores like Amazon that’ll win.

One of the biggest benefits of customer loyalty

programs is that they can stop you from needing
to compete on price alone. By connecting with
your customers’ emotions, it gives you a way to
set your store and your brand loyalty benefits are
a highly effective way to surprise and delight
those who shop with you
Each time you reward a customer, you’ll appeal to
their emotional side. By doing that, you start
building a bond. As that develops, they see you as
more than a range of products. In turn, it
strengthens their loyalty – encouraging repeat
purchases that boost your profits. It also makes
them more likely to tell a friend.

2. Retain existing customers

Even in difficult times, members of a customer
loyalty program can bring more value to your
store.
All this shows how retention is one of the most
cost-effective ways of growing your business. A
major benefit of loyalty programs is you can do
more to keep customers coming back and
spending more. As you start to turn existing
customers into loyal ones, you’ll see the
importance of customer loyalty management
shine through in the long-term.

3. Increase Customer Lifetime

Value
Customer lifetime value is the net profit
attributed to the overall relationship you maintain
with a customer. It tracks how valuable a
customer is to you now – and how much this
ongoing bond is worth in the future.

The benefit of a customer loyalty program here is

that you have data on a person’s unique buying
habits. We saw earlier how purchases are
emotional decisions, so it makes this data all the
more vital – helping you to better understand
their needs.

After all, the data you have access to is like a pile

of bricks ready to be assembled. And one of the
benefits of loyalty programs for retailers is making
sense of this data too. Put simply, you can see the
steps your customers take before they buy.

4. Build personal
relationships
To create this emotional bond and make your
customers feel loyal to your store shows how
much you value them.
Often, companies only segment customers into
one or two categories. This makes customers feel
invisible or under-valued. we can also see that
customers are increasingly looking to form a
genuine bond with the brands they buy from.

5. Create References
Your most valuable customers aren’t only the
ones who spend money. They’re also the
customers who generate it instead. And they’re
the ones who’ll refer your store to their friends,
family or – for those on social media – their
followers.

If your customer refers their friend or relative, for

example, give one points and the other could a
discount off their first purchase. Each is a different
loyalty program perk – but both works to bring in
new shoppers and keep existing ones loyal to your
brand.
Customer Questionnaire and
Data Analysis

1) How many ratings would you like to give

after purchasing in Jyotichand Bhaichand
Jewellers?

RATINGS

5%
8%
1 STAR
2 STAR
13%
3 STAR
4 STAR
49%
5 STAR

25%
 2)Which Words comes first into your mind
when you think about Jyotichand Bhaichand
Jewellers?
Purity
Faith
Service
Chart Title
36%

35%

34%

33%

32%

31%

30%

29%
NO. OF CUSTOMERS

PURITY FAITH SERVICE

2) Would you like to refer our shop to your
friends and Relatives?
Yes/ No
Chart Title

0.15
NO OF CUSTOMERS REFER
0.85

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

NO YES
3) What makes you buy here?
Purity
Variety
Offers
FEEDBACK

OFFERS
20%

VARIETY PURITY
20% 60%

PURITY VARIETY OFFERS

4) Are you interested in the Loyalty
programmes conducted by Jyotichand
Bhaichand Jewellers?
Yes/No
YES NO

100%

90%
0.25

80%

70%

60%

50%

40%
0.75

30%

20%

10%

0%
FEEDBACK
5) Which among the following Loyalty
Programme do you like?
 Bishi Scheme
 Loyalty Card
 Discount Vouchers on Making charges
BISHI SCHEME LOYALTY CARD
DISCOUNT VOUCHERS ON MAKING CHARGES

25 25 50
FEED B AC K
6) Which collections will you prefer to buy?
Ira diamond Collection
Disney Collection
Ria Silver Collection
Arambh Collection
Sangini Collection
FEEDBACK

15%
20%

5%

60%

IRA DIAMOND DISNEY RIA SILVER

ARAMBH SANGINI
7) Do you like the Service of this Showroom
and what changes will you suggest for the
improvement of their service?
As per the Survey suggestions given by
Customers are
Most of the customers like the service of
showroom and some of them gave suggestions
To enlarge the Space and Premises of
showroom
During Rush there should be more staff
members
Orders should be ready on time
To get notified about the rates and offers
on daily basis
Sitting Arrangements should be improved
Online Shopping on website should be
enabled
 8) Are you interested in Festive Offers of this
Showroom?
Yes/No
Chart Title

100%

90% 30

80%

70%

60%

50%

40% 70

30%

20%

10%

0%
FEEDBACK

YES NO
 9) Will you like have a Call or Whatsapp about
their new arrivals or new offers?
Yes/No

FEEDBACK

YES NO
 10) How did you form this opinion?
By coming in touch with the Staff of the firm
Through advertisements
Word of mouth publicity
Bought products
Friends’ recommendations

Chart Title

50

50

45

40
20
35

30
20
25

20
5 RECOMMENDATIONS
15

10
5 MOUTH PUBLICITY
5
COMING IN TOUCH WITH STAFF
0
OPINION %

COMING IN TOUCH WITH STAFF ADVERTISEMENTS MOUTH PUBLICITY

PRODUCTS RECOMMENDATIONS
 Loyalty Programmes
Conducted by Jyotichand
Bhaichand Jewellers LLP
January
Yearly Calendar of Loyalty
Programme
January
1st to 14th January
1) Payal Jodvi Mohotsav
-25% making off on Jodvi and Payal
2) Forming Jewellery Mohotsav
-assured gift on every purchase
-Thushi on purchase above Rs.5000/-
-Paithani on purchase above Rs.7000/-

Sankranti

 Whatsapp to customers ,FB post

 Staff call regular customers and invite them for
Haldi Kunku programme (300 customers) on
Sunday evening
 One minute programme few winners small gifts
and one main winner gets Paithani
 We give coconut as a waan

February
Valentine’s Day

 Event organised in 2019

 How much do you know your partner questioner
winners (all participants were given 1 gm gold rose
as gift)
 FB Live streaming , Whatsapp promotion

March
Women’s day

 Cadbury gifted to all the women customer.

April
Gudi Padwa
 Gathi for children

May
 Aarambh Collection launch – traditional
Maharashtrian jewellery with special discount
vouchers
August
 Sangini Mangalsutra Mohotsav For Customers
 Discount on Making Charges of Mnagalsutra
 Rakhi Poornima
 Gift vouchers for Sisters
September
Hartalika
Mehendi Artist, mehendi for all customers

Ganesh Chaturthi
 Special gifts on the purchase of Ganpati ornaments
in silver

October and November

Dusherra and Diwali
  Dusherra to Diwali assured gifts for customers and
silver coins on the purchase of gold ornaments

December
Christmas
 Tie Lollipop on Christmas tree for customer
children
 Swot Analysis
Strength’s
 Strong Brand Value and Brand Awareness
 Advertisement and Promotion
 Guarantee of Purity

Weakness
 Sometimes Delay in Order delivery

Opportunities
 Luxury Products Uses Gold and Diamond
 Career Growth

Threats
 High Level of Competition
 Threat of frauds
This are some of the Loyalty Programme
For Customers
BIBLIOGRAPHY
 To complete this project, I have taken help from:
Teacher: Mrs. Shaikh R.C
 Owner of company: Mr. Swapnil Shaha and Mrs
Mukulika Shaha
 Manager: Mr Rajesh Gogri
 Company staff
 Customers
 From Google http://www.jbjewellers.in