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Marketing Concepts With Special Reference To Jewellery Products-B.V.Raghunandan

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Marketing Concepts With Special Reference To Jewellery Products-B.V.Raghunandan

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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 Karnataka

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 Karnataka

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Marketing Concepts With Special Reference To Jewellery Products-B.V.Raghunandan

  1. 1. Marketing conceptswith special reference to jewellery products- B.V.Raghunandan<br />
  2. 2. Gold is Forever<br />Limited Supply<br />Universal Demand<br />Large Size Population<br /> in Emerging Countries<br />Gold Futures<br />International <br /> Storage of Value<br />Investment and <br /> Ornamental Value<br />Religious Dimension<br />
  3. 3. CURRENT STATUS<br />Recession in the USA<br />No Signs of Immediate Recovery<br />Dollar is Losing its Status<br />Euro did not Fill the Vacuum<br />Continuing Price Increase <br />Demand is Affected<br />
  4. 4. TRENDS<br />Demand for Investment<br />Profit from Holding Inventory<br />Combination Jewellery with Stones and Diamonds<br />Gold Purchase is Getting Postponed <br />
  5. 5. Problems Facing the Industry<br />Ever Increasing Price<br />Youth Losing Interest in Favour of Other Ornaments<br />Competition from Imitation Jewellery<br />Branding is Not Recognised branded accounts for 5.5% of $130 billion market)<br />Advertisement Is not Enough (o.1% of sales value-luxury goods 10%, Watches 6%)<br />More as an Investment than as an ornament<br />
  6. 6. Efforts at The International Level<br />World Gold Council is Running a Global Marketing Campaign<br />Dubai Conducted a Conference in 2006 for integrated Efforts<br />Almas Tower in Dubai is emerging as an international Market<br />HR is brought from Antwerp to Dubai<br />Market segmentation-royal and trendy <br />
  7. 7. Efforts at the Local Level<br />Forming Association<br />Advertisement Tuned<br />Contemporary Designs<br />Popularising 18 Karat gold<br />Creating Database<br />Brand Building<br />Training Goldsmith<br />
  8. 8. Brand building<br />Adopt Strong market Culture<br />Create an Excellent Product<br />Employ Great Entrepreneurship<br />Clarity About Strategy<br />Significant Financial Backing<br />
  9. 9. Forming Local Association<br />Contests in the Colleges<br />Instituting Gold Medals for Special Achievers<br />Industry Advertisement Locally on the Model of World Gold Council<br />Sponsoring Conferences on Gold Marketing<br />Attending Conferences in Nearby Countries to know the Trends<br />Accessing the Trend in the International Market<br />
  10. 10. Advertisement Tuned to Consumer Psychology<br />Youth Appeal<br />Trendy Designs<br />And Not Royal Designs<br />Light Chain<br />Merits of Gold<br />Delinking Gold and Diamond<br />All Season Purchase<br />
  11. 11. Contemporary Designs<br />Customer Survey<br />Design Competitions<br />Italian and <br /> European Designs<br />CAD<br />Personality Statement<br />
  12. 12. 18 Karat Gold<br />Less Expensive<br />Functional Products like watches and Pens<br />Right Time to Absorb<br />Repeated Purchases<br />Less Yellowish (Yellow is repulsive to the youth)<br />Lesser Taxes <br />
  13. 13. Creating Database of Customers<br />Name, Address and Profession<br />Occupation and Financial Details<br />Important Events<br />Personal Preferences<br />Sending Best Wishes<br />Getting the Details of Friends and Relatives<br />Telemarketing <br />
  14. 14. Training to Employees<br />
  15. 15. Marketing concepts<br />Production Concept<br />Product Concept<br />Sales Concept<br />Marketing Concept<br />Societal Concept<br />
  16. 16. Classification of Jewellery Consumers<br />Passionate<br />Indulgent<br />Traditionalist<br />Ostentatious<br />
  17. 17. Thank you<br />

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