Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

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Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer

Transcript of Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

Page 1: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer

Page 2: 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 2013-Largest in the

nation

Page 3: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

PROBLEM Misunderstanding

of the customers’ needs Poor, misdirected

marketing

Page 4: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

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

Page 5: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

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

Page 6: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

WHY? Facts

Significance of gold Auspicious

sentiment Investment Symbol of wealth Mentioned in

religious book

Page 7: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

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.

Page 8: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

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

Page 9: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

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”

Page 10: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

PRICE Based off of the

market price Tax Import duty Labor Profit

Last call section Too many in the

inventory

Page 11: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

PLACE Highly visible Luxurious and

appealing 12,000 sq. feet,

largest store in nation

In the midst of Indian hub

Page 12: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

PROMOTION CURRENT:

Main focus on watches

Magazines mainly have watches

Second goal on diamonds

Page 13: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

PROMOTIONAGE GROUP: Mid 20’s-Early

40’s45 and above

PREFERRED MARKETING

Social media and cultural events

Magazine and cultural events

TYPE OF PURCHASES

Smaller Items (earrings, rings, etc..)

Bigger Items (full sets, set of bangles, etc…)

Reason for Purchase

Personal and Religious

Personal and Religious

Preferred Environment

Straight Forward

Bargaining Power

Page 14: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

PROMOTION RECOMMENDED:

Sponsorship at cultural events

Raffles at events Social Media

Marketing

Page 15: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

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

Page 16: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.
Page 17: Govindji’s Marketing Alan Daniel, Priyanka Sampat, Thang Duong, Nebiyu, Adam Nuffer.

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-the

http://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