Gold Jeweler industry in Bangladesh is a highly labor intensive industry which employs about 2-3 lakhs of artisans.and a large number of' labour for carrying out the retail trade in the local markets. The industry's investment-employment ratio is the lowest compared with many other industries.

The jewelery industry of Bangladesh has dropped down due to rise in price of U.S.A dollars, less consumption as purchase ability has also decreased. Specially, Gold jewellery sales dropped by more than 50 percent in the past 3 years. This huge fluctuation of prices has been occurred due to sudden rise in U.S.A dollars which has also increased prices in international markets of gold jewellery. Nowadays, without any marriage ceremony, any special occasions customers don’t purchase Gold, especially the middle class. Whereas, other jewelleries such as, mainly Silver and Gold-Plated materials sales are increasing for customers alternatives demand. Small Gold Jewellery makers and traders are now more emphasizing to produce jewelleries of other materials as demands pushing them. Some of them are importing jewelleries from other countries also. [1] Trends of Bangladeshi jewelleries are moving from gold to gold-plated jewelleries mainly because of rise in price. Now, the international market of price has increase, which has influenced the local jewelers to increase the price. The market researcher has found the price increased such as, in 2003 the price was Tk 20,614 per bhari (11.66 grams) and mow it has become Tk 29,200. Md. Julficker Hossain the jewel owner of Gayna Ghar, a jewellery shop in Dhanmondi market said that “customer’s satisfaction is very important to me. Our aim is to make a client look beautiful with beautiful ornament. Every customers is equal to me, I visualize her face, elegance, look while designing jewellery for her.” It has been figure out that average sale of the branded gold jewellery shops per month is about minimum 3 crores.The gold jewellery have slumped more than 50 percent in the past 3 years as demand for ornaments declined in line with soaring prices of the precious metal on the local market. It has been assumed by the shop owner that Bangladeshi customers are very choosy, but this kind of materials have huge market for them if the jewellers, create new designs, change trends often to satisfy them. The gold plated jewelleries are available at most cosmetics shops and the large shopping centres mainly in Chadni Chawk and Gausia. Nowadays, the trend of gold-plated silver jewellery is helping the woman looks beautiful at low cost.  It is asserted that in future Bangladesh would export Gold jewellery to middle east mainly Saudi Arabia because of their hand made jewelleries

The jewellery industry of Bangladesh has opportunities in future of being unique at the international market because of manufacturing jewelleries of different types of materials such as soil, wood, fiber, plastic, cheaper stones etc. The market of gold has dropped down due to economic recession with the increase in demand for other materials such as silver, gold-plated and diamond. The demand for handmade gold jewellery has increased internationally for unique design and labor cost is also less in Bangladesh.WHEN - In Bangladesh, there are different types of religion among which mostly Muslim and Hindu community people wear jewelleries during the festival time such as Eid, Puja, etc. Not only that, at the time of Bengali cultural program such as Pahela Baishakh, Pahela Falgun, Victory Day and 21st February, both woman and teenagers wears ornaments. The other community people, Christian and Buddhist they usually don’t spend too much on buying these heavy jewelleries, they like to wear simple, unique, types of jewelleries.WHY - Mostly women are interested to buy traditional kinds of jewelleries whereas youth are attracted to jewelleries made of other materials. It is traditional in marriage ceremony for us to buy gold jewelleries and Hindu communist use gold jewelleries to decorate their Idols. Both women and youth people love to wear jewelleries made of soil, wood, plastic and other types of materials, even we have jewelleries made from flowers which are used in time of marriage ceremony, which are unique and makes women look more beautiful.HOW – In two ways people buy these products which is cash & credit purchase. Not all shop allows the credit purchase. Other than these, some banks provide loan for marriage ceremony which people can use to buy gold jewelleries.

The Relationship between the Purchaser and Recipient - The relationship between the purchaser and recipient of jewellery is usually formal. Customers buy gold & diamond jewelleries from any brand shop but for other types of materials like, silver, gold-plated, metal, etc there is no such brand, only for stone materials there is a shop name Gems-Collection. Nowadays due to increase in price of gold, customers are moving their ways to these kinds of materials more and they are making ornaments matching with their dresses. Sometimes the difference of the

shop comes with its extra offers for the customers such as, warranty & guarantee, available of credit purchase, exchange offers, quality of gold etc which pulls customers again and again.

Motivation FactorsSocial-Cultural - As we belong to Bengali culture, both youth & women wear dresses like mainly Saree & Salwar Kameez which looks really beautiful and we adorn ourselves with jewelleries to enrich our beauty. The purchasing power varies for some social factors such as, income level, education, occupation, etc. In case of buying gold & diamond, we mostly depend on brand name shop but for other types there are no such specific brands.Peer Pressures - Women get influenced by their family members, friends, and colleagues to spend on gold & diamond jewelleries mostly those who are professional and housewives. Sometimes it changes to competition among the peers or friends to buy gold with unique design more and more.Pre-Post Marriage - Women those are in pre-marriage category are the most user compare to post-marriage one. Youth or Teenagers are not that much encouraged to buy gold whereas they have the attraction towards unique and different types of stylish jewelleries made of stones, wood, plastic, silver, gold-plated, soil, etc.

Role of Consumer Advertising & The Retailer and BrandingAdvertising is major elements for both existing and potential customers. It is represented through newspaper, television, magazines etc. Here, it is divided within the retailer and branding and direct consumer advertising.

Direct Consumer Advertising:Both the Traditional & Fashion jewelleries: The advertising here plays role with the help of consumer such as, a woman who has brought jewelleries from any shop, would market herself to her family members, colleagues, etc. Here, the satisfactory levels will play important role for that particular shop. Therefore, it is direct advertising to other people who are interested to buy jewelleries both for traditional and fashion jewelleries.

The Retailer and Branding:Traditional Jewellery: Advertising plays important role for both non-brand and brand products. Retailer can’t persuade consumers that much because of they are already known to them and they mainly depends on brand products. Advertising is carried through television, magazines and newspaper.Fashion Jewellery: Advertising is not important for fashion jewelleries as it does not offer any extra benefits and there is no re-sale value. But retailer needs to convince customers on their own. Advertising is not effective for the consumers as it depends on theirs choices. It is difficult for the organization to survive in the competitors market as because of less expensive which are varieties of choices is more.Customers need changes frequently also they are much more attracted to the unique products. Traditional jewelleries are expensive so it has a great impact on unique design which can grab customers demand more. Whereas, fashion jewelleries already has lot of varieties and customers usually buy these products by matching with their dresses and which is also cheap. Women are choosy and they like to purchase more jewellery which comes with new design or has unique features.

The jewelry industry in Bangladesh has been flourishing unabated. Smaller shops are expanding in size. Fashionable new showrooms are being opened in posh shopping malls. Customers are being entertained lavishly in showrooms. This is happening in spite of the fact that the price of gold has been rising steadily. How is it possible?

If you ask a jeweler, he will tell you with a smile of satisfaction that some people in our country have plenty of money and they buy gold irrespective of its price. It is also said that some people are stockpiling gold as an investment because of the steady rise in price.

I am surprised to observe that the trading of gold in Bangladesh is guided by rules made by the jewelers themselves. The government has no control either on the quality of the ornaments or on the rules of the business. It is obvious that when the rules are made by the jewelers they always gain, no matter whether they buy or sell gold.

Most of the buyers of gold jewelry have no idea about the weights, quality or costing methods of the gold ornaments. As a result, the customers can be easily deceived. When I check the memos in jewelry shops, occasionally I detect "mistakes" which, unfortunately, always favour the shop owners.

Jewelry shops in Bangladesh now sell what they call KDM gold. This is different from old or sanatan gold. The term KDM is a misnomer. At one time, gold jewelry was soldered with cadmium, also called kadium in some places. Cadmium soldered jewelry was known as KDM gold. Use of cadmium has now been banned in most countries as the fume of molten cadmium is toxic and harmful to people engaged in jewelry making. Jewelers in most parts of the world, including Bangladesh, now use gold for soldering jewelry but still call it KDM gold.

The quality of gold is expressed in karat. 24 karat gold is the purest form of the metal available in the market. It is supposed to be 99.9% pure. This gold is relatively soft and easily malleable. 22 karat gold is less pure than 24 karat gold. The measure of 22 karat means that out of 24 parts, 22 parts are 99.9% pure and the remaining 2 parts are other metals or impurities mixed with it to make it harder. 22 karat gold is therefore 99.9x 22/24=91.575% pure. Similarly, 21 karat gold is 87.41% pure. One should not confuse karat with carat, which is a measure for precious stones and gems.

The trading of gold jewelry is regulated entirely by the Bangladesh Jewelers' Association formed by the owners of jewelry shops. They fix the price of gold and frame the rules of business. Neither the government nor the consumers have any say in this matter. They are very prompt in increasing the price of gold when it rises in the international market but very slow in decreasing the price when it falls. Why? It is advantageous to them.

If you exchange an old 22 karat KDM gold jewelry for a new one, the shop will deduct 10% from the value as loss if it was purchased from the same shop and 20% if purchased from any other shop. Had there been any control on quality, KDM gold would have the same quality no matter from where you buy it. The difference in the calculation losses indicates that there is no control in quality.

I exchanged old gold in Saudi Arabia, where the market is governed by state regulations. I exchanged 22 karat gold in Jeddah at the full market value without any deduction as losses, and paid only the making charge for the new ornament. If gold ornaments could be exchanged in Saudi Arabia without any deductions, why can't we do so in Bangladesh? The reduction in value due to the so-called loss is a net profit to the shop owner.

The situation is worse if we exchange old or sanatan gold. The price of 21 karat old gold is 35% less than the current price of KDM gold and, in addition, 10% is deducted as loss. This means we get 42% less price compared with the current KDM value. Why? The jeweler will argue that the old ornament has about 65% pure gold and 35% other metals as impurities. In other words, what we bought as 21 karat gold was, in fact, 14 karat gold! This means that we were cheated when we bought the old jewelry and now we are paying the price for it. Why should the customers be penalised for the unethical business done by the jewelers?

This explains why the jewelry shops in Bangladesh are thriving in spite of the rising price of gold. It is interesting to note that they are now spreading a news or rumour that they will soon stop buying old gold from customers. Some people are, therefore, rushing to sell old gold at a loss of more than 40%.

It is obvious that the customers in Bangladesh are being deceived by the jewelers in absence of any government regulations or control. Surprisingly, the Consumers Association of Bangladesh is also silent on this matter. Is it not time to stop this shady business and bring some discipline to gold trading through legislation in order to protect the interest of the consumers?

Such regulations should ensure that all jewelers must guarantee the quality of gold and they must buy back the same at the existing market price without any deductions, like in Saudi Arabia. The jewelers should also be obliged to buy back their old gold ornaments, sold as 21 or 22 karat gold, at the current market price of 21 or 22 karat gold without any deductions as they made undue profits by selling 14 karat gold at the price of 21 or 22 karat gold.

Market size and trends of jewelers industries:In Bangladesh gold plated and silver jewellery market is growing day by day. And the gold has losing its market for its high price. And the ornaments made by it are getting popularity day by day in the city for insecurity in the street. Silver and semi precious stones jewellery market is also increasing day by day. Because people use these for their desire fashion, style and they can match their colure with their wearing. There are also huge market jewellery made by wood, plastic, soil in the rural area and tribal areas. Reports indicate that gold jewellery sales have slumped more than 50 percent in the past three years as demand for ornaments declined in line with soaring prices of the precious metal on the local market, said industry people. [1] The number customers of gold jewellery is decreasing and other jewellery such as silver, gold plated, stone, wood, semi precious stone is increasing. And the number of gold customer is decreasing because the price of gold is increasing. And the others is increasing because customer can buy it within their affordable price and can mass with their style.

Market segmentation of the jewellery industries:Market segmentation is dividing the buyers in various groups or

category depends on their different types of needs, wants,

characteristics, and behaviors.

Market segmentation is important because:There are different types of buyer

Buyers have various wants and needs

Location is not same

Attitudes of all buyers are not same

Various categories income level

Sometimes buying behavior is different among group.

For the jewellery market buyer are divided into two types’ man and

woman. Basically women are the main buyer but only a few buyers

from Hindu community for jewellery have in Bangladesh. The woman

buyers’ segmentation is given as follows:

OccupationStudent

Service holder

Housewife

15-25 years

******

**25-35 years

******

*****

*****35-45 years

******

******45-60 years

******Age

Fig: Market segmentation of Jewellery industries.

(b)Patterns of competition within the market: The biggest jewellery

market in or country is Baitul Mukarram gold and watch market. All the

famous importers and makers of jewellery such as Amin jewelers, Apan

Jewelers, Apurba Jewelers, Chadni Jewelers, Boishakhi Jewelers,

Grmeen Jewelers, Shanonda Jewelers, and Venus Jewelers have show

room in the market. There are more than 150 jewellery shops in the

market. They also compete with each others in various ways.

Some important factors of their competition:Some of them offer change facilities.

Some offers free servicing.

Provide warranty.

Provide accurate weight for gold.

Brand name also an important factor of competition.

Some are provide some unique features.

Advertisement on media.

The role of distributor and retailer: In our country most of the jewellery

shop make and sale their product in the market. The biggest and

famous jewellery shops have their own show room in many locations in

the country. From the show room they sale their product. And most of

the jewelers take order first and then make for customers.

But for the fashion jewellery it sold by both through wholesaler and

retailers. Chalk Bazar in Dhaka is the biggest Wholesale market for

jewellery. Businessman import and make the jewellery by themselves

Factory in the market. Most of the time owner of the retail shop come

in the market and buy jewelleries for sale they come from different

parts of our country. Sometimes many wholesale businessman sale

their product through appointed representative.

(c)Competition pattern between traditional and fashion jewellery: There

are some difference between traditional and fashion jewelry for some

cases. And the competition will arise for the differences. Difference

among traditional and fashion jewelry are given below.

Factors of competition

Traditional

FashionUse of Gold

Most of the time use

Not necessary

Use of Silver

Very rare use

Most of the time use

Use of others (stone, gold plated)

Very few

Very much

Price

Is always high

within affordable for all

Resale value

Good resale value

No resale value

Users

Aged, professional

Young generation

Warranty

Have need

Most of the time not need

According to all above discussion it is clear that jewellery have a good

market in Bangladesh. The owner of the industries should have to play

their activities more carefully for developing the market.

Task-2It is ancient tradition in Bangladesh of adorning oneself by jewellery.

The tradition has still now and more vigorous from earlier in

Bangladesh. Now a day’s jewellery is divided into two basic category

such as traditional and fashion jewellery. The art of jewellery has been

developed throughout time. There is various types’ jewellery for all

parts of body. Price also differs among them. The buying behavior is

also different among customer to buy the jewellery. And some factors

also motivate the customer to buy the jewellery.

(a)When jewellery is purchased: As there are various types and forms of

jewellery so there are vario9us types of customer also. So the

customers buying behavior is also different. As Bangladesh is

multicultural country”.

All the community has many festivals and the festivals are the main

season for both buyers and sellers to buy and sale the jewellery. The

biggest festival in our country is Eid and Durga Puza. The sale of

jewellery is highest on the two festivals. The sale of traditional and

fashion jewellery stays same on that time.

And in wedding ceremony customer buy much jewellery in our country.

The use of jewellery in wedding ceremony is our tradition. Gold and

Diamond jewellery is common for its.

We purchased jewellery because: The women of our country wear

jewellery for their personal adornments. This is for our culture. It has

also a social value. . Jewellery is not purchased only for personal

adornments but also purchased for dedicated to GOD.

The purchase way: In general customers are buying jewellery by going

to the jewellery shop. Most of the time customers buy jewellery by

cash. Nowadays some private bank in Bangladesh also provide loan to

purchase jewellery in some famous jewellery shop. So customers also

allow purchasing jeweler in credit.

(b)The relationship between the purchaser and the recipient of the

jewellery: Relation between purchaser and the recipient can be divided

into two ways such as formal and informal:

Formal relation: Most of the time formal relation will make with the

traditional jewellery customer. Relationship make with some causes

such as businessman provide many opportunities to the customers.

They provide warranty, guaranty after sale service, resale opportunity.

Sometimes businessmen keep many gift options to their customers on

different occasions. Nowadays many jewellery businessmen decorated

their showroom, appointed professional sales people to attract their

customers.

Informal relation: Informal relation is made with the fashion jewellery

customers and it fluctuates very much because customers taste

change very much for these types of jewellery customers. So it’s

making when they businessmen offer new and innovatory products.

(c)

The motivation for purchase and the role of social, cultural, and peer pressures:Social: There are various types of social class on a society. And these

classes are creating for difference in occupation, education, income

level, wealth among the people live in a society. So the upper classes

people have to maintain their class. When they are buying anything

they look the brand name of the product. And the social value of that.

And lower classes people stay close at home when they buy jewelers.

Cultural: What is an acceptable product for a group of people they

learn it from their own culture. And the culture is transmitted to

generation to generation. As Bangladeshi we have own culture. We buy

and wear that kind of jewelers that is acceptable in our culture. But

nowadays some western culture also influenced our young generation.

Peer pressure: It is another vital factor of motivation when people buy

jewellery product. Anybody can see an ornament wearing her friends.

Then she asked her friend where from buy, how much the price is etc.

sometimes friend also give many information and influenced another

to buy the jewellery from a particular shop.

Pre marriage and post marriage: It’s also another important motivation

factor for the jewellery customers. Before marriage women are buy

fashion jewellery most of the time. But after marriage they buy

traditional jewellery most of the time. Because of most of the woman in

our country are house wife. And their life style is change after

marriage. There is also another reason they also see it their savings for

future. When they buy traditional jewellery by expend a big amounts of

money.

So the people of our country buy lots of jewellery in different occasion

and festival. Many motivational factor has been working such as

culture, peer pressure, social class etc.

Task-3

(a)The role of direct consumer advertising: Advertisement is the simple

way to let the people know about a business. The purpose of

advertising is not only increasing very quick sale but also noticed the

people. For the jewellery business direct consumer advertising is most

important for all kind of jeweler especially for traditional jewellery.

When a woman purchase jewellery and use it then she can convince

other customers in various ways:

Family: When customers purchase a jewellery product and get benefits

or feel better then she tell her other family members to purchase the

jewellery. And when customers know about a product from their family

member then they will very much influence to buy the product. For the

traditional jewellery family member role is very important because

when customers buy traditional jewellery they always try to find

information about the product from believable or nearest person.

Friends and colleagues: For the fashion jewellery business friends and

colleagues also play very important role as part of direct consumer

advertising. Most of the customers of fashion jewellery are younger

women. So most of the time they will be influenced by their friends and

colleagues such as if one friend sees another friend or colleague looks

beautiful by wearing a jewellery product then she asked her friend

where she get the product? Or where she can buy? So these types of

customers will be influenced very easily from her friends or colleagues

Advantages:It increase the sale

Establish the brand name

Encourage the existing customer

Attract the new customer

Company reputation also increase

The role of retailer: Most of the time for traditional jewellery retailer do

not play important role in our country. Because every famous and

popular jewellery shop have own showroom and they run their

business through it.

For fashion jewellery retailer play good role. Because they always

trying to attract new customer and built a good relationship with them.

Customers also find out them as they provide according to their

requirements.

The role of branding: The brand name is very important factor for

traditional jewellery because before buy a traditional jewellery

customer thinks some extra facilities rather than fashion jewellery.

When they buy they think about it resale value, weight, social value.

Customer also thought about warranty, guaranty, and sometimes

jewellery shop existence. But for fashion jewellery customers only think

the jewellery will be unique and cheap. Branding is not an important

factor for fashion jewellery.

(b)How important is difference/innovatory design in purchase: Difference

or innovatory design is most important for both traditional and fashion

jewellery. There are different types of customer and their choice taste

needs are always different. An innovative design for fashion jewellery

always takes customer attraction very quickly. The same design is a

cause of boring. Nowadays people always know about new and

innovative things for globalization. They have more willing to break the

old custom. The innovative design only for product cannot make

success alone. Innovative design for sales style, decoration is also

important. The number of competitor is increasing day by day in the

market. The entire competitors are aware of customer satisfaction.

Customer satisfaction is keys of success. Without creating new and

innovative product satisfaction ever come. So to survive in this world

competitive market making difference from other is very important.

(c)Mechanisms of risk reduction: To run jewellery business there need a

big financial investment. And when customer buys jewelry they expend

a big amount of money. As both have to investment is big so both are

face some risk.

Businessman risk:The major risk for this business is insecurity. They should apply both

physical and technological security system.

Physical security: There are many security guard provider companies.

They provide well trained guard. Companies can take help from them

or recruit guard and give them training for their need.

Technological security: In this modern world there are various types of

technological security system. Jewellery businessman should apply

some of these such as web camera, figure print, foot print etc.

Financial risk: And for their financial security they should do insurance

for their company.

Customer risk:Customers also face some uncertainty to purchase jewellery such as

weight, product stability, jewellery shop stability, physical security etc.

Businessmen should provide the right weight by the proper equipment

and should keep the promise with customers.

Government should take necessary step to reduce both side risks by

creating and implementing law properly. And encourage the

businessmen by giving various facilities such as tax reducing.

So it can say that if business can attract the customer through

advertising or using brand name and government can ensure both

party safety this will more favorable business in our country.

Task-4Marketing research is very important because it help the management

to take the decision to achieve their business goal. And a well planned

research can help to be successful. For this success the methodology

of research select is most important and tough job. Because the

methodology is define the way how the research will be done.

(a)To reaching the new customer and increase the attractiveness primary

market research is most appropriate for the James porteous Collection.

There are different types of primary research methodology.

Primary Research

Qualitative Research

Quantita-tive Research

In depth interview

Research

Focus group

Research

Projective techniques

Research

Observa-tion

Research

Experimen-tation research

Survey Research

Figure: primary research methodologies.

According to our country survey research is most appropriate for

fashion jewellery and this research should be done through focused

customers group because focused group has many advantages such

as:

Interaction among the group members is possible. So they can give

their opinion more correctly and more detailed.

When they talk in a crowd they talk very spontaneously.

It is very stimulating technique.

More meaningful comment can come.

Rich data can get for the direct interaction of researcher and

respondent.

Secondary research: Secondary research is also important to research

the market for James Proteous Collection. Very recent information

about customer needs, want will very helpful. It also helps to select the

way of research methodology and predict the cost for the research and

other requirements.

(b)In our country most of the jewellery customer are women and the 15-

25 years women are the main targeted customers. So we can take a

sample frame by dividing the location into urban and rural. And then

the research should be done on the targeted customers.

The question should be asked:Question

Answer

Is the James Porteous Collection well known to them?

Yes

No

Which material they prefer most?

Silver

Stone

wood

soil

others

Is the price level satisfactory?

Yes

No

Do you think their need more verification?

Yes

No

Do you satisfy with this kind of product?

Yes

No

Do you think they should establish their own showroom in different

location?

Yes

No

Do you think they should have own brand sign?

Yes

No

What is your profession?

student

Service provider

housewife

(c)

In-depth interview: it is a motivational research technique where

respondents are interviewed one by one for long time. It is called the

heart of motivational research. If the focus group member fell shy or

do not fell comfort to respond in crowd of people the in-depth

interviewed should placed in focus group.

The process of use in-depth and participative research techniques:At first experienced and well trained interviewer should select.

Because in the time of interview they have to understand the

respondent emotion, understanding. And there needs to create an

environment where the respondent can talk freely.

What types of information is need for the research should be

determined. Such as about the James Proteous Collection acceptance

in the customer. About the satisfaction of the customers.

A list of the respondents should make.

The question pattern should be open- ended not close ended. Such as

instead of asking do you satisfy by using our product? Have to ask

please say something about our product.

All information from the respondent should take by carefully

interviewed her feeling, emotion, lecture etc.

So if all of these research methodologies can be done properly. Then it

will be very easy to identify the customer need, wants and what are

the causes of their satisfactions and dissatisfactions. If the product can

be develop according to the customer’s information then they receive

the product more and the company’s aim will be success.

Task-5

(a)Before start a business everybody should have to see for the

prospective market. Because of without good planning about the

market situation every strategy may fall. Bangladesh is very viable

market for these types of jewellery. Because

As most of the customer are women in our country. So it has a huge

amount of customers.

According to our businessman say the number of customer are

increasing day by day for the fashion jewellery.

Profit can earn more sassily within short period of time.

Business man also interested because risky of return after investment

is very few.

(b)The specific benefits for the purchaser: If the market is competitive

obviously the market will be smarter and the competitors are more

concern about their customer. So the purchaser when buy any product

from the competitive market they must get some extra advantages

such as:

Businessmen always want that their customer will loyal for the

company so they try to give the service at their best level. So

customers get the best services.

They always try to make their product better than their competitors

because if they fall for that they must lose their customers as well as

their market share. So they always concern about it and customers

always have the chance of getting the new, innovatory, and best

product.

To be more advanced than competitors every company always provide

some opportunities for their product to the customer such as they

provide warranty, guaranty, resale, change facility etc sometime s they

provide price off though it is little in amount but benefit for customers.

Sometimes many companies do some kinds of social work that is good

for customers as well as whole society.

(c)As the main customer of this types of jewellery are in the age of 15-25.

So these types of fashion jewellery companies should segment the

market according to their customer’s lifestyle and their lifestyle.

Because of in this age they are more stylish in their life style. They are

more ambitious in their personality. So they always accept new and

innovatory things and try to make them update always.

Promoting tools for the customers:Advertising: Advertising on television would be more effective because

a maximum number of audiences of TV program are women in our

country. Advertising on others media also effective such as newspaper,

online search engine, billboard. The company would also advertise on

the buses or taxis which are travel from city to city.

Personal selling: It helps to building customer relationship and increase

the number of customers. Many customers are also promoting to buy

the product by influencing from others such as friends, colleagues,

family members etc. so it will very much effective for this segment.

Sales promotion: If the company arranges some system to sell such as

coupons, contest, premium it helps to get more customer attention

and unique quality.

Public relations: The Company can be cosponsor for some special types

or events such as sports, cultural programmers or different kinds of

social welfare activities.

Direct marketing: Marketing by direct mail, catalogs, telephone call is

called direct marketing. It is also effective for the jewellery customers.

It helps to make strong relationship with consumers.

Not only these tool help to attract these customers packaging and

distribution is also very important to promote them.

And the push promotion mix strategy will be appropriate for this

marketing. Because of this strategy producer push the product through

marketing channel to final customers. And it’s marketing activities

towards channel members to induce them to carry the product to

promote to final customers. [4] 

Pricing strategy: One of the four major elements of the marketing mix

is price. Pricing is an important strategic issue because it is related to

product positioning. Furthermore, pricing affects other marketing mix

elements such as product features, channel decisions, and

promotion. [5] Before pricing there need to follow some steps such as:

Develop market strategy and make marketing decision

Estimate the demand

Calculate actual cost

Understand competitor’s action and environmental constrains.

Set the objective of pricing

Finally determine the price

The objective of pricing:To maximize the company revenue and profit

Sell the maximum number of product in the market

Long time survive in the market

be market leader by use the price

recovery the partial cost and stable level of profit

The fashion jewellery company has to follow the market penetration

strategy which helps to increase the number customers as well as

increase the sell for its low price. There are also some reasons such as:

The market of these types of product is very much price sensitive. so

low cost can help to market growth

If price is increase the quantity demand will decrease very

significantly.

Some specific cost such as production and distribution cost will

decrease because of number of sale will increase.

Create a better position from the competitors.

Distribution strategy: There are also some factors to deciding

distribution strategy

Market factors: Consumer behaviors, preference from where they buy

etc

Producer factors: Capability for establishing the customer’s

requirements

Product factors: Product categories complex, perishable, long time or

short time uses etc.

Among the selective and exclusive strategy of distribution selective

strategy is most appropriate for the James Proteous Collection

company.

Selective distribution: Distribution of products only to those

wholesalers or retailers who: (1) agree to sell the product for no less

than a certain price; (2) patronize the distributor on a regular basis or

for at least a certain dollar amount annually; or (3) meet specific

requirements established by the distributor as outlined by the

manufacturer. [6] 

It allows number of moderate outlets which enhance the product

image.

It increases the better service level control, inventory and

merchandising control

It enhances the dealer’s loyalty and brand image.

Promotes for better forecasting

Manufacturer can control price level f dame product among sellers.

So customer loyalty can achieve.

And the product is not expensive

After above all discussion we see that, from the ancient period our

populations are familiar with jewellery. Though there are some risks of

this business and the market research says that traditional jewellery

market is fall last few years but the market for the fashion jewellery is

most viable. If all of these research will be done and strategies will

follow properly businessman will be successful in these types of

jewellery business.

Selective distribution: Distribution of products only to those wholesalers or retailers who: (1) agree to sell the product for no less than a certain price; (2) patronize the distributor on a regular basis or for at least a certain dollar amount annually; or (3) meet specific requirements established by the distributor as outlined by the manufacturer. [6] It allows number of moderate outlets which enhance the product image.It increases the better service level control, inventory and merchandising controlIt enhances the dealer’s loyalty and brand image.Promotes for better forecastingManufacturer can control price level f dame product among sellers.So customer loyalty can achieve.And the product is not expensiveAfter above all discussion we see that, from the ancient period our populations are familiar with jewellery. Though there are some risks of this business and the market research says that traditional jewellery market is fall last few years but the market for the fashion jewellery is most viable. If all of these research will be done and strategies will follow properly businessman will be successful in these types of jewellery business.