marketing concepts with special reference to jewellery products-b.v.raghunandan
DESCRIPTION
the role of marketing concepts in marketing jewellery products, as presented by B.V.Raghunandan in a guest lecture delivered to jewellery manufacturers at Yeyyadi Industrial Estate, Mangalore in KarnatakaTRANSCRIPT
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