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Govindji’s Marketing

Govindji’s Marketing . Alan Daniel, Priyanka Sampat , Thang Duong, Nebiyu , Adam Nuffer. HISTORY/BACKGROUND. 22 K Gold and Diamond Jewelers Top 6 best watches in the world 1957-First watch repair store 1961-Purchase of official Rolex store 1982-Introduced 22 K jewelry to DFW

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Govindji’s Marketing

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  1. Govindji’s Marketing Alan Daniel, PriyankaSampat, Thang Duong, Nebiyu, Adam Nuffer

  2. HISTORY/BACKGROUND • 22 K Gold and Diamond Jewelers • Top 6 best watches in the world • 1957-First watch repair store • 1961-Purchase of official Rolex store • 1982-Introduced 22 K jewelry to DFW • 2013-Largest in the nation

  3. PROBLEM • Misunderstanding of the customers’ needs • Poor, misdirected marketing

  4. TARGET AND SEGMENTATION • TARGET: • Indian Population • Segmentation: • Mid 20’s – Early 40’s • 45 and up • Underlying Needs: • Good quality gold jewelry, honest pricing • Personal & Cultural reasons

  5. WHY? • Why do Indians purchase gold over diamonds? • Observations • Facts • India is world’s largest consumer of gold. • Essential part of religious holidays and festivities. • 2011- 933.4 tons of gold was bought

  6. WHY? • Facts • Significance of gold • Auspicious sentiment • Investment • Symbol of wealth • Mentioned in religious book

  7. SWOT • Strengths: • Reputation of unparalleled quality, attention to detail and singular innovation in Indian jewelry designs which adds to a powerful brand image. • Loyal consumer base • Weaknesses: • Poor understanding of consumer needs/wants. • Trying to impose unwanted products on consumers. • Poor marketing due to poor understanding of consumer wants.

  8. SWOT cont… • Opportunities: • Younger generation is more inclined. • Rise in economy • Threats: • If current marketing methods continue, the company will not be relevant. • Competitors are actively and aggressively marketing. • Competitor’s Video • http://www.youtube.com/watch?v=BeWpD7T-7YQ

  9. PRODUCT • No re-used jewelry • 916/22K stamping • 6 top best watches in the world • Top quality diamonds • Gold • Various styles • Service • Brand name • “Official Rolex dealer”

  10. PRICE • Based off of the market price • Tax • Import duty • Labor • Profit • Last call section • Too many in the inventory

  11. PLACE • Highly visible • Luxurious and appealing • 12,000 sq. feet, largest store in nation • In the midst of Indian hub

  12. PROMOTION • CURRENT: • Main focus on watches • Magazines mainly have watches • Second goal on diamonds

  13. PROMOTION

  14. PROMOTION • RECOMMENDED: • Sponsorship at cultural events • Raffles at events • Social Media Marketing

  15. CONCLUSION • Govindji’s marketing needs to target the gold buyers. • This needs to be done to stay in business and compete well. • Suggestions are: • Sponsor cultural events • Advertise gold jewelry in magazines • Get on the social network

  16. BIBLIOGRAPHY • http://www.govindjis.com/files/history.aspx • http://global.factiva.com.libproxy.utdallas.edu/aa/?ref=AFPR000020130131e91v006bt&pp=1&fcpil=en&napc=S&sa_from= • http://www.moneycontrol.com/news/gold/7-reasonsindians-love-gold_696046.html • http://www.gold-eagle.com/editorials_98/madhok101598.html • http://www.manfromindia.com/2007/12/who-do-indians-love-gold.html • http://www.resourceinvestor.com/2006/04/26/indians-purchasing-more-gold-than-disclosed-by-thehttp://www.lexisnexis.com.libproxy.utdallas.edu/lnacui2api/results/docview/docview.do?docLinkInd=true&risb=21_T17137999196&format=GNBFI&sort=BOOLEAN&startDocNo=1&resultsUrlKey=29_T17138001505&cisb=22_T17138001501&treeMax=true&treeWidth=0&csi=8200&docNo=17

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