Marketing Plan for Glisten & Shine
Glisten & Shine is jewelry and accessories-based company and shall be providing a variety of jewelry items such as necklaces, earrings, rings made from special customized gems, and later on would be diversifying its product line into bracelets, cufflinks, tie-pins, jewelry hair-pins and hair accessories, belts etc.
G&S's jewelry will be special as the customer will be able to re-use it over and over again and dye and re-dye it to suit his requirements, without spoiling the natural look. For making our product eye catching, we will make use of semi-precious, transparent and/or opaque crystal gemstone that will be coated with a special paste providing a natural precious look to the gemstones.
Glisten & Shine provides a unique product concept in a relatively maturing jewelry industry. This will give us an edge because customers are in that stage where they want something trendy as well as innovative.
G&S will focus on a niche market segment but will aim to grow in it and expand gradually in to other markets as awareness is increased. G&S will look to initially provide basic women jewelry i.e. rigs, earrings and necklaces. After we see the success of our products, we shall look into bracelets, anklets, tie pins and cuff links and rings for men.
At initial stages, we will tend to be more conservative while estimating revenues for the first year, as we will be facing heavy operational and promotional expenditures. The company has aimed to earn about 15% rate of return on its investment. The profit margins would be around 45%, which will then contribute towards the fixed costs of the business. However as the brand becomes more acceptable and known in the market, then the margins are expected to increase in the future.
Marketing Plan for Glisten & Shine
Introduction
People buy jewelry because it is their want!!And not a need! They want one pair of ear rings, and then they want more. They want jewelry because it makes them look attractive and beautiful. Looking gorgeous and trendy is the main purpose of the wearer. At Glisten & Shine, we will provide the lover of jewelry to make a strong fashionable statement every time you go out for a social gathering and the compliments will never fade because you will not be wearing the same jewelry repeatedly. This will enhance your self-esteem and make you feel truly glamorous. These days, customers have become increasingly price sensitive and they do not mind switching to competitors for a better product or a deal (Findlay, 2010). We at G&S aim to fulfill their expectations by constantly living and breathing for our customers -- that is thinking from their point-of-view at every step. We hope you find the concept as appealing as we do and allow us to give the fashionable jewelry lovers what they have been waiting this long for.
Market Analysis
Glisten and Shine will be operating mainly in the jewelry industry which is a specialized segment of retailing. Our main competencies will lie in providing fine quality items such as necklaces, earrings, rings unique gems, along with distinct and personalized customer service, and strong customer relationships.
Initially, Glisten and Shine would be targeting people aged 18-40,who have strong fashion sense and like to be up-to-date with the latest fashion trends. Focusing on this niche will help us focus on that minority of people who are more experimental and dynamic in their jewelry choice. We shall be acquiring the gems in crystalline form and then the special coating that can be dyed would be applied (Kotler, Armstrong, 2009). The special colors and decolorizing solutions shall be produced at our processing point and our first main customer outlet shall be situated at a shopping mall.
Organization and Products/Services Overview
Product Concept
It has always been understood that actions speak louder than words. It is not about what you say you are; but it is about what you project to others and what they feel about you. Everyone wants to be viewed as radiant and to be admired by society. Fashion is one very important way of achieving this. Fashion makes a statement about a person. It depicts someone's creativity, self-confidence, social status, character and even mindset. Fashion makes a person get noticed and provides a fulfilling sense of self-esteem (Findlay, 2010).
Something that is different from the usual metal and precious gemstones. Something that tests the creativity of the individuals and makes them put the additional...
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