MARKETING CONCEPTSWITH SPECIAL REFERENCE TO JEWELLERY

PRODUCTS- B.V.RAGHUNANDAN

GOLD IS FOREVER Limited Supply Universal Demand Large Size Population in Emerging Countries Gold Futures International Storage of Value Investment and Ornamental Value Religious Dimension

CURRENT STATUS Recession in the USA No Signs of Immediate Recovery Dollar is Losing its Status Euro did not Fill the Vacuum Continuing Price Increase Demand is Affected

TRENDS

Demand for Investment Profit from Holding Inventory Combination Jewellery with Stones

and Diamonds Gold Purchase is Getting Postponed

PROBLEMS FACING THE INDUSTRY

Ever Increasing Price Youth Losing Interest in Favour of Other

Ornaments Competition from Imitation Jewellery Branding is Not Recognised branded

accounts for 5.5% of $130 billion market) Advertisement Is not Enough (o.1% of sales

value-luxury goods 10%, Watches 6%) More as an Investment than as an ornament

EFFORTS AT THE INTERNATIONAL LEVEL

World Gold Council is Running a Global Marketing Campaign

Dubai Conducted a Conference in 2006 for integrated Efforts

Almas Tower in Dubai is emerging as an international Market

HR is brought from Antwerp to Dubai

Market segmentation-royal and trendy

EFFORTS AT THE LOCAL LEVEL

Forming Association Advertisement Tuned Contemporary Designs Popularising 18 Karat

gold Creating Database Brand Building Training Goldsmith

BRAND BUILDING

Adopt Strong market Culture Create an Excellent Product Employ Great

Entrepreneurship Clarity About Strategy Significant Financial Backing

FORMING LOCAL ASSOCIATION

Contests in the Colleges Instituting Gold Medals for Special Achievers Industry Advertisement Locally on the Model

of World Gold Council Sponsoring Conferences on Gold Marketing Attending Conferences in Nearby Countries

to know the Trends Accessing the Trend in the International

Market

ADVERTISEMENT TUNED TO CONSUMER PSYCHOLOGY

Youth Appeal Trendy Designs And Not Royal Designs Light Chain Merits of Gold Delinking Gold and

Diamond All Season Purchase

CONTEMPORARY DESIGNS

Customer Survey

Design Competitions

Italian and European Designs

CAD

Personality Statement

18 KARAT GOLD

Less Expensive Functional Products like watches

and Pens Right Time to Absorb Repeated Purchases Less Yellowish (Yellow is repulsive

to the youth) Lesser Taxes

CREATING DATABASE OF CUSTOMERS

Name, Address and Profession Occupation and Financial Details Important Events Personal Preferences Sending Best Wishes Getting the Details of Friends and

Relatives Telemarketing

TRAINING TO EMPLOYEES

MARKETING CONCEPTS

Production Concept

Product Concept Sales Concept Marketing

Concept Societal Concept

CLASSIFICATION OF JEWELLERY CONSUMERS

Passionate

Indulgent

Traditionalist

Ostentatious

THANK YOU