Market Analysis On Jewellery In India

mart Analysis On Jewellery In India1.0 instauration selling chat plays a vital role while insertion a sunrise(prenominal) stigma or product in to long time cut-throat merchandise. It is a form of persuasion which plays the role to understand the communicators purpose (ethos) and the communicating sue (pathos) hence in having an influencing effect with the node(logos) This document describes in-depth the process involved to order a naked as a jaybird daub of jewelry called Cadbury muffins moderate in the Indian commercialise as well as the UK grocery.2.0 Cadbury rock AnalysisCadbury Gem has product cable only in the jewellery in gold, platinum, dark-skinned gems and baseball field. By 2015, its main focus proceed be on merged social responsibility while operating any process. It has plans of launching adolescent entreaty of white jewellery by 2014. Their main competitors ar Tanishq and Gili.3.0 commercialise Analysis on Jewellery in IndiaThe Indian jewellery m arket is large and consist of un grassed where mark jewellery accounts only for little than 2% per year and 300,000 consists of unorganized one. The dominant players in the field of jewellery manufacturing ar Italy, Hong Kong, China, Thailand, United States. Leading player in the Indian jewellery argon Gili part of the Gitanjali Gems Limited and Tansihq, Reliance Jewel, Joyalukkas.4.0 round Cadbury GemsThe Cadbury Gems Limited leave cater the primary grade women and secondary target men in the board radical of 25-40 years in the interior(prenominal) market and the world(prenominal) market. It exit provide a divers(prenominal)ial advantage by providing personalise assistant for loyal customer in ground of contrive and patterns and knowing advice on get married jewellery in the UK market.5.0 PEST Analysis semipoliticalThe Indian Government has developn up measures to lower import art of platinum and gems ,colored stones be exempted from tax .There be plans of I ndian Government to ensn atomic number 18 diamond Bourses.EconomicDue to the global economic recession, Indias gems and jewellery merchandise and import as well as got affected it.The dynamic deepen in the convince rates of pounds and INR affects the domestic as well as international market .It affected the GDP of Indian economy and thus lessen the consumer usance too affecting the gross revenue.Socio-CulturalThe socio and cultural plays a huge role in the Jewellery market of India as jewellery is considered to be a custom from ancestral time and it is a necessity in many of its cultural reason .TechnologicalIndia has be gain the containing manufacturer in terms of jewellery beca habituate of its advanced technology and according to GPEC there is a opening of 18% to 407.36 lakh carats for cut and polished diamond.6.0 Competitor Analysis6.0.1 About TanishqTanishq is one of the pioneers in branded jewellery and largest jewellery brand in India founded in 1995 AT Hosur, Tami l Nadu. It is a part of Titan persistence- theme destructionorsed by the Tata Group. It has 118 stores in 76 study cities of India and has a market sh be of 50% in branded jewellery.Tanishq product lines consist of the followingTanishq DiamondsTanishq GoldTanishq platinum6.0.2 SegmentationTanishq has separate its consumer base on the three types. They argon surgical incisioned as followsBehavioralTanishq exemplifies behavioral segmentation as it portrays purchase articulation based on festival open up c be diwali, akshaya, tritiya, karva chauth. It too segment its jewellery as ein truthday pay, redundant occasion wear and wedding wear wish well Lightweight Colours an everyday wear, Enamel and DiamondsPsychographic and ProfileIt also shows profile and lifestyle segmentation as it segments its jewellery called Collection G called nine-to-five jewellery. It also has charm called All Day Diamonds which ar affordable and nates be worn throughout the day 24 *7. It also tri es to singlet out the different designs in new region interchangeable Bengali design in Delhi, Kerala style in Tamil Nadu etc6.0.3 TargetingDifferentiated Different merchandise alloy are applied for each segment.Customized Different marketing mix are applied for each customer.Differentiated marketing and customized marketing strategies are tell ond. Its design was hitd for niche market for elite Indians only if then voiceless on mass marketing. It targets women who are modern yet grounded and men who are above 25 years.6.0.4 PositioningUses product re situation and act as a brand for elite battalion in India of international brand but then re-positioned in the market as Jewellery for adornment. Tanishq has come up with Aamra mix of western and traditional .It position the brand which provides self-assurance and guaranteed purity.6.0.5 Communication StrategiesTanishq Pull schema advertTo create brand impartiality it uses the approach of 360 degree. They focus on celebr ity endorsement as people in India are highly obsessed with the celebrity and create a huge impact and henchman with events the worrys of marriage , diwali,raksha bandhan.Print advertizementTanishq target the leading cleaning woman magazine same Femina, Filmfare which are very democratic in India and new(prenominal) leading newspaper kindred The time of India and such advertisement are frequent during occasions and it is quite seasonal.Tanishq thrust StrategySales advancement and associating with EventsTanishq has a tie-up with Bollywood movie like Paheli. publicity like Free Gold Coin Campaign, then stop Your Gold Price during the festival of Dhanteras are used.Public Relation tardily they have organized Diamonds of Class which target woman who are diaphanous and the beautiful where Tanishq diamond complementing her lifestyle.Direct marketingInternet Sales and catalogues are used.Offers and DiscountIt offers and discount in festive occasion like Diwali, Mothers Day, Val entine Day, purlieu Day and also target specific segment of working woman by coming up with the allurement called Tanishq Collection-G .It also organizes joint promotion with LOreal and Wills Lifestyle.6.1.1 About GiliGili is a part of the Gitanjali Gems Limited (GGL).Gili is founded in 1994 and it is symbolizes youth, love and emotions has its headquarter is based at Mumbai. It is known for producing a heart-shaped diamond of 0.03 carat and 25 patented patterns. It has 3000 retail outlet in India and contributes a share of 40% in an organized jewellery market. It has a market share of 8.3%.Gili has aggregation ofWorkValentineTraditionalTeensMens CollectionMangalsutra6.2.2 SegmentationGili segment based on the followingBehavioralGili has segmented based on purchase occasion like Valentine, wedding, birthday, anniversary and has Valentine ,Mangalsutra,Traditional collections.Profile and LifestyleGili again has work collection .They have the Men collection and have jewellery based on the income like segmenting the jewellery with expense.6.2.3 TargetingGili follows the differentiated and mass marketing. It creates a sense of high-quality stud diamond of contemporary design. They have the collection for working woman in particular. They have targeted even the men with Mens collection.They target in the age group of 15-30 years of age.6.2.3 PositioningImage re fix its brand as a brand which represents trust by adhering to authentic certification, quality and reliable by keeping standard practices .It creates a differential advantage by positioning as a brand that created the first 0.03 karat heart-shaped diamond the smallest in the world.6.2.4Communication StrategiesGili Pull StrategyAdvertisingBipashu Basu is the brand ambassador and endorses the products by associating it with events like Valentine day.PrintAdvertising in leading newspaper like The Telegraph, Times of India and advertize in leading magazine like Filmfare.Gili move StrategyEventsIndians ar e fascinated by the celebrities so they organized star visits and sponsoring films like in Vivaah,Krissh .They also sponsored the Lakme expressive style Week and Femina Miss India Contest.Joint- PromotionIt is done through retailer like Shoppers Stop.Direct-mailers and catalogueThey employ this dodge and received a huge feedback and have increased the sales enormously.7.0 open up of Cadbury Gem in India7.0.1 Communication ObjectivesTo generate brand alive(predicate)ness of 60% of Cadbury Gem to twain men and women who are in the age group of 25-40 by March 2012.To create a brand image that understructure be trusted and caters individualise Service in terms of design.To change peoples attitude that jewellery set up also be worn by men often.7.0.2 Communication StrategyPull strategy impart be used to create awareness.To create brand image of trust which caters Personalized Service profile strategy pass on be used.Communication put forward pass on be more of emotional like the experience subsume with the festive season and events and the benefits and a bit of rational like the price and the quality it result offer. The perceived risk result be pecuniary risk.7.0.3 SegmentationCadbury Gems provide segment based onBehavioralIt go forth be based on purchase occasion, purchase behavior, usage segmentation. buy occasionAs done by the contemporary, it will make use of occasions like Wedding Anniversary, Birthdays and classical Indian festival like Raksha Bandhan,Holi. It will create collection such as Festive Collection suitable for any festival and All in One occasion collection.Purchase behaviorIt will target the innovators who are ready to take risk in buying the product as soon as the launch is done.Usage segmentation It will target heavy as well as light user i.e women who are already apply and men who just contribute 20% of the jewellery purchase.Belief and determineIt will target men and women who believe in living and celebrating life.Psych ographicIt will used lifestyle and personality segmentation.LifestyleIt will target women who are innovative as well as ordinary women of simple lifestyle. For men, it will target metrosexual men and has collection called goop for Men.PersonalityIt will designate at people who are innovators who accepts the new product soon and who are expressive where Cadbury Gems portrays who they are. It will have collection called Itz Me.Profile It will use age as criteria to segment.AgeIt will target men and women who are in the age group of 25-40.7.0.4 TargetingIt will use differentiated and customized marketing. It will design its jewellery for men and women in the age group of 25-40 years with specified design of their choice. The customer arsehole come up with its pattern and specification of their choice and it will take minimum lead days of 10 days to deliver to their customer.7.0.5 PositioningPerceptual Map naughty PriceTanishqGitanjali Gems LimitedReliance JewelleryWide carrefour flap Cadbury Gem Narrow Product RangeJoyallukasLow Price figure of speech Perpetual MapIt will use tangible repositioning for the mens collection as it will focus on mens section by creating Exclusive for Men Collection. For the womens section it will use product repositioning by introducing Itz Me collection, All in One Occasions, Festive Collection.Differential advantage will be achieved by positioning as a trusted brand which provides Personalized Services employing designers who can reach feedbacks about the design the customer comes up and suggest safe ideas to the customer in effect and efficiently.7.0.6 pithThe quarry of the course is to create brand awareness among the women who are the primary target and also the secondary target men both in the age group of 25-40 years and also to create an impact as a brand that cater the customers needs by giving Personalized Service to those customer who are loyal to Cadbury Gems.7.0.7 Launch DateThe advertising campaign will run t hroughout the year starting from April 2011 till the end of March 2012 giving main focus during the festive season like November, December as these are the season where major festivals occur in India. It is expected to launch its product in April 2012.7.0.8 Budget20 trillion will be allocated as people are not aware of the products therefore huge amount needs to be invested in campaigning and advertising.8.0 Integrated Communication PlanIntegrated Communication plan plays an important role to pass the same message to the targeted audience in a consistent way so that they are not confuse, mislead if it employs different communication channel without integrating . It will used both above the line and below the line strategy and profile too.8.0.1 Above the lineAdvertising on TVAdvertisement will be put on popular channel like Sony ,Star Plus, Zee TV,C olors where popular soaps and sequential are transmitted. pleaImpact large audience in a short span of time and helps to increase wor d of mouth.Short lead timeTarget the women of age 25-40 and put the ads in between popular soap and serials likeUttaran,Jyoti,Balika Vadhu.Frequency of the Ad will be like 7-8 quantify in the channels mentioned above.Magazines and NewspaperAdvertisement will be hardened on leading magazine like Woman Era, Outook, Readers Digest and on leading newspaper like The Hindu,The Economic Times as these are the magazines read by corporate men and women.JustificationThe ad will remain as long as the magazine and newspaper are kept.Target both the men and women through this channel of communication credibleness of the information is high.Metrosexual men and corporate consumer youth will be targeted easily.FM RadioShort Ad with be played in major FM station like Radio City and Radio Mirchi and Meow.JustificationLow cost.Can reach large consumers faster with short lead time and Ad will be placed more virtually 9-11 A.M and 5-7 P.M the working hours of most of the company and timing for colle ge goers too.Medium to high compensated people, youth who are fashion conscious of both the sexes will be reached easier.Billboards15 X20 billboards will be placed especially near the mall, pic -theatre, plazas and area where colleges and companies are more.JustificationComparatively involves lower cost and frequence of exposure is high.Information and persuasion can be done impellingly and efficiently leadingto brand awareness.8.0.2 beneath the lineDirect foodstuffingMails will be sent to such customer about the designs and new collection. It will target the loyal and frequent buyer of Cadbury Gemby giving loyalty card and points to those regular buyer. Customer whichexceeds 1000 points will be stipulation free Personalized Service giving expertexpert advice to the design the customer has come up.JustificationIt will defy good return of investment of if clear database is maintainedabout the customer. subsequently achieving the brand awareness of 60%, direct marketing can be used tocreate profile strategy projecting as a brand of trust and customer oriented.Sponsorship and ExhibitionIt will sponsor and associate with Bollywood Movies to showcase its collection. It will also sponsor the major ramp shows held Lakme Fashion Week and events like Femina Miss India Contest, Zee Cinema Awards and organize exposition where popular male celebrity John Abraham will be the brand ambassadorJustificationHelps in rectifying the customer perception and beliefs.To attract new customer and attain new customer.Chances of face-face meeting with the potential customer thus enhancingrelationship building.E-mediaIt will make use of the social networking sites like Facebook,Twitter and Orkut which are quite popular to promote their products.JustificationRelatively cost-effective.Information can be spreaded like wildfire thus increasing word of mouth.9.0 Launch of Cadbury Gem in the UK Market9.0.1 Communication ObjectiveTo create an awareness of 5% among the non-resident Indi an in the UK market by March 2012.9.0.2 Communication StrategyTo create an awareness of 5% among the non-resident Indian in the UK market by using both push and pull strategy.9.0.3 SegmentationCadbury Gems will segment based on behavioral,psychographic,lifestyle and personality as done in the domestic market. It will adopt the same strategy.9.0.4 TargetingThe strategy of targeting remains the same as in the domestic market i.e differentiated and customized.9.0.5 PositioningIntangible positioning will be used for the men by introducing Hesperian Mens Collection. Product positioning will be used for women and it will introduce ritzy Collection and will position as a brand that provides special attention on design and pattern on occasion of the wedding.9.0.6 MessageIts aim is to create awareness in the same sector and also to create a brand image which provides special assistance for wedding jewellery by introducing its Sophisticated Jewellery for Wedding with expert advice on design and patterns.9.0.7 BudgetOnly 10 million will be invested in campaigning and advertising.9.0.8 Above the lineIt will use advertising on TV on the same channels as in domestic market ,advertisement will be displayed on magazine like Marie Claire,Vogue and Cosmopolitan exclusively.JustificationNRI in UK invest their time and money on such hi-fi magazine and moreover they strike the information credible.9.0.9 Below the lineIt will use public relation like exhibition, sales promotion and e-media.ExhibitionThe exhibition will be especially for the NRI like Sophisticated Jewellery for Wedding with expert advice on design and patterns, Western Mens Collection for men and Elegant Collection for women and letting the celebrity like the former Miss World 1995 Aishwarya Rai Bachchan the brand ambassador of Cadbury Gem in such exhibition as glamour and glitz business impacts NRI in a huge way.JustificationCreates awareness more as compared to other form of media. It gives a direct feedback f rom potential customer, face to face communication and it is an ideal way to attract new customer when new products are launched.Sales Promotion Offer like free accessories i.e ray-ban sun glasses, branded make-up kit and discount of 20% will be given to customer who buys 420 of jewellery.JustificationIt will attract the new customer and whitethorn boost up the sales when the product is too new in the market.E-media It will make use of the social networking sites like Facebook,Twitter only as Orkut is not in use by the NRI. The reason for using this is that majority of the NRI are computer savvy..9.0.10 Cultural Influences for UK launchA niche market will be used to target the non-resident Indian (NRI) and there will not be huge impact of cultural influence but in terms of jewellery design it should be more sophisticated and elegant and a mixture of Indo-Western.9.0.11 Assessing Advertsing EffectivenessPre-testingFocus group and excogitation testing can be used before the launch. Post-testingEnquiry test, feedback, surveys can be used to test the recognition and recall test. This will give an idea whether the customer has accepted the product or not, if yes how much, if not where it has to give focus.11.0 ConclusionCadbury Gem jewellery will be launched in both the domestic i.e India and international market i.e UK keeping into consideration the various strategy and tactics that needs to be considered while launching in different market. 20million INR will be spent in the domestic market in advertising as it is competing with already established jewellery brand Tanishq and Gili. It will allocate only 10million INR for the international market as the objective is to create awareness of only 5%.ReferencesBhat.H Retailing, Tanishq online acquirable from26th February,2011Bhat.H (2004)Growing the Branded Jewellery Market An Indian Experience online available from 23th February, 2011Business Map of India India Gold Market online available from 12th March,2011Da ta Monitor Jewellery India online available from 12th March, 2011Choksi.M (2010)Leader Speak online available from 26th February, 2011Commodity Online Gold Industry in India to cross $26 one thousand thousand by 2012 online available from 12th March, 2011Data Monitor Jewellery India online available from 12th March, 2011Diamond World News Service Role of Gem and Jewellery Industry Lauded in Indias Prowess online available from 19th February, 2011Drobis.D.R (1998) Integrated Marketing Communications Redefined daybook of Integrated CommunicationGili Beautifully You online available from 1st March, 2011Gitanjali Group(2010) Gitanjali Grouponline available from 1st March ,2011Indian Brand Equity Foundation (2010) Gems and Jewellery online available from 12th March, 2011Jewellery (2010) Jewellerry -India Euromonitor global Country Sector BriefingKannabiran.G, Bhaumik.S (2005) Corporate turnaround through effective supply chain management the case of a leading jewellery manufacturer in India Supply Chain Management An International journal, 10(5)340 348Kanani Industries Limited Kanani Industries Limited 27th Annual Report online available from 19th February, 2011Narayanan.S,Manchanda,Puneet,Chintagunta.P.K (2005) Temporal Differences in the Role of Marketing Communications in New Product Categories Journal of Marketing Research, 42(3)278-290Narayanandas.D (2006) Tanishq Positioning to Capture the Indian Womans Heart online available fromhttp//www.credaincr.org/archive_news_details.php?nid=8531m=12y=2010 19th February,2011NewsJewellers find star-studded show a hit online available from 26th February, 2011PoulHoumanAndersen (2001)Relationship development and marketing communication an integrative model, Journal of Business Industrial Marketing, 16 (3)167 183Rao.A (2011) Tanishq goes retro in new Diamonds of Class still campaign online available from 26th February, 2011Whalen D.J (2010) Ethical Advertising Messages Design Management Journal 2(4)75-80