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Transcript of Newbridge SilverwNewbridgeare All
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PRODUCTS Cutlery
EPNS Stainless
steelGiftw
are
Photoframes
Candles Gift boxes Clock
Jewelry Necklaces
Bracelets Rings Watches Earrings
Home Glassware
Kitchen
ware
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Low-Grade Knifes
price inretail
Less than0.25 Euro
H
igh-Grade Knifes
price inretail
7 Euro perpeace
PremiumPriced Silver plate
EPNS Present
boxes 300-1000Euro
PRICE
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Cutlery Hospitals, Restaurants, Canteens, Airlines
Giftware Gift and Craft shops, department stores,houseware shops such as Kilkenny Design,BlarneyWoollen Mills and Quills
Jewelry Jewelry shopsHome
Houseware shops
Totally Over 300 retail customers in Ireland
PLACE
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BRANDING Strong brand name in Ireland
Newbridge associated with quality
Best in Business Award 2005
Modern, elegant design
Sponsoring events such as Miss Ireland, Rose of Tralee,
Special Olympics
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PROMOTION Attracted Paul Costelloe to the design of premium-priced
cutlery collection
In 2009 opened Museum of Style Icons
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MUSEUM OF STYLE ICONS
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CHALLENGES
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CHALLENGES OF ENTRY
IN RECESSION
Low Cost Import Competition
Its an industry in decline Changing fashion effects the perception
New product development creates barrier
Cross industry relationship.
Existing brands have reached solid historical foundation.
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BUYERS RELATED
CHALLENGES IN RECESSION
Change of lifestyle
Recently increased price sensitivity.
Responsive to change in style and design (IRISH MARKET).
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POSITIVE MARKETOPPORTUNITIES
Growing demand for different SS grades
Growing demand for branded product lines extensions
Anti-terror cutlery
Targeting catering market
High brand recognition for prospective product lines
Participating in cross-industries` events
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RECENT MARKET THREATS
Savvy customers (price sensitive)
Growing unemployment
Growing popularity of casual dining culture
Outsourcing
Development of direct online sales
High wages
Growing shares of Asian and South American companies
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POLITICAL CHALLENGES
1930-1950 proctectionism policies
Increasing security requirements after 9/11
Anti-terror stainless steel cutlery
Obliged use of plastic cutlery
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ECONOMIC CHALLENGES
Price sensitive consumer
Economic slowdown affects sales of luxury goods
Less consumer spending on luxury goods
Economic uncertainties postponed or cancelled purchases
Increased competition from non-traditional sources
In the 50s protectionism policies were reduces, New bridge had tocoop with the free trade environment, low-costs imports
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SOCIAL CHALLENGES
Changing fashion and new product developments
Sliced bread introduction
Plastic cutlery
Changes in house design to informal
Trend towards less formal dining
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TECHNOLOGICAL
CHALLENGES
Technological innovation of competitors patented
Wuesthof and Le Cordon Bleu co-operated to design light
weighted design
Need of adoption when budgets are tight in the crisis
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LESSONS LEARNED
Diversification and repositioning is necessary in a declining and
maturing market, in order to stay ahead of competition
A recession asks for strategy revision
Extensive branding enhances the brand-awareness and contributes
to a positive image
Compete with cheaper Asian manufacturers by concentration on
premium-quality products and product innovation
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LESSONS LEARNED
Increase sales by brand extension
Collaborate with other parties within the industry to boost the
entire niche-market
Creating transparency raises publicity and awareness, opening
a visiting site attracting (inter)national tourists
Partner up with organizations which can influence the demand
of your productsfashion designers
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LESSONS LEARNED
Making merchandise in terms of giftware to create a hype
around the products
Appealing to the tourist industry
Strong brand presence (unique Irish character) and publicity
distinguish in times of crisis
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Newbridge Silverware. Chad, Shan, Rita, Sofia
THANK YOU FOR YOUR
ATTENTION
The End!