1. 1
NEEV 2012 November 2012
All that
Glitters
A Case Study
Submitted by:
Team Name: DwarfandtheGiant
Institute: IIM Kozhikode
Sr No Participant Name Email ID Phone No
1 Anubhuti Gupta anubhutig15@iimk.ac.in 8943889916
2 R Ranjith rranjith15@iimk.ac.in 9645646629
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2. Target Market 2
Offerings designed for Ceremonial occasions:
Jewellery for weddings etc. where the focus would be
on the aesthetic appeal and designs of the product as
well as the product being a “branded” one
The Indian Consumers: Urban Rural divide Offerings designed to meet the investment
-Gold is considered as a multi -The great Indian urban-rural divide needs: The focus would be on purity (minimum
faceted product: Over 80 per cent of is gradually narrowing. 22 karat) and value added services like
the 13,000 Indian women surveyed buyback at the market rate
-The rural rich are now displaying
in a study look at gold as a financial buying behavior akin to the most
investment as well. downtown of city Indians.
-There is a high amount of diversity -The rural/semi urban consumers
in the choices of jewellery in are not as price sensitive as before; Demography: Working class in the age group
different regions[1] more concerned about designs[1] of 25-40.
Geography: First phase would see stores in semi
urban areas in South India as the region has higher
demand for jewellery. Second phase would see stores
in other regions especially North India
Market Estimation
• Indian jewellery industry
worth $16 bn ; 60% share for Market Value in 'Bn of USD[1]
rural/semi urban market in
2011($9.6 bn) [2]
• The Indian Gems and Rural/semi
urban
Jewellery has an annual
40% Family/regional players
growth rate of approximately 30%
Branded jewellers
16 per cent [3] 60% 64% Small fragmented players
6%
Year 2012 2013 2014 2015
Expected $11.136 bn $12.91bn $14.98 bn $17.38 bn
*Source:[1] www.jewelleryoutlook.com
market size $1 bn(branded jewellery)
[2] WGC report, 2011
[3] CII report, 2011
(non urban)
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3. Go to Market Strategy 3
• Goldstud should have its own
showrooms.
• The layout of the showrooms
must be appeasing enough to
ensure customer engagement.
• Exposure to the designs should
be maximized
• Initial marketing strategies
should ensure higher footfalls in
the store and make sure
• Goldsmiths in the area customers see the “value’ in the
can be engaged with to product. Otherwise customers
understand / make may shy away from the store
designs that suit the assuming higher costs owing to
needs of regional the premium store layouts
customers. • Focus of the staff should be on
• Pricing need not be • Innovative strategies like “customer delight”
focused on being the design your own • Service area concept can be
lowest as the target jewellery can be implemented for the store
consumers would be implemented . positioning
willing to pay at par • Special offers can be • Opinion leaders in an area to be
their urban given out during regional identified and engaged with
counterparts in return festive times accordingly.
for assurance of purity
Store experience
Localizing
Pricing offerings
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4. Marketing: The Branding Strategy 4
Create brand equity
Distinguish the brand from
competitors
Need for Capture consumer attention
Branding Establish relationship with
consumer
Brand name will stand for
“trust”
• Purity of products:
Compared to the urban Trust
markets, these consumers Purity
Brand
are not well aware of the ISI Commitment
certification and do not Values
Satisfaction
press on the need for
What rural/ hallmarked jewellery. Prosperity
semi urban • Trust: Most of the
consumers transactions are driven by
trust on the family jeweller Focus on the emotional
look for? connection between the
customer and the person who
• Good shopping he is buying the gold for
experience: The traditional Positioning Highlight the relationships –
jewellers do not have store parents buying gold for her
layouts which would engage daughter, husband gifting gold
customers to the wife etc.
The brand will follow a
regional strategy
The designs of the jewelry, the
promotional campaigns, the Strategy
advertisements, the store
layouts will all be designed to
cater to the local culture and
taste
“As pure as your love.”
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5. Marketing: Promotion and Communication 5
When compared to the local gold shops, the differentiation point would be the “purity of the gold”
and the “designs”.
Advertisements Celebrity Endorsements
•Create advertisements to educate •Engage regional film stars or
people about the brand and the purity celebrities as the brand ambassadors
of gold, along with focus on the for the promotional activities
emotional connection •They would endorse the jewelry at
•The advertisements will be aired on public occasions to increase the
the regional channels during visibility and the desirability for
programmes with high viewership GoldStud jewelry
•Print ads will be published in the
newspapers especially during the
wedding and the festive seasons
when the purchase of gold is highest
Collaboration with Bridal Wear Shops
•Tie up with famed shops in the cities where the rural customers
may visit for purchases like wedding attires
•The shops will have a catalogue featuring the bridal dresses
from where one can select the dress and along with the dress it
will showcase Goldstud jewelry designs too
•At the billing counter the consumers will be given a visiting card
of the Goldstud outlets containing a unique number required for
tracking the purchase
•For every purchase made using the reference the shop will be
given a commission and the consumer will be given some
discount
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6. Marketing: Promotion and Communication 6
Contests and Competitions
•Conduct lucky draws where consumers can win attractive
prizes and gold coins.
•For every purchase made during the festive season, the
consumers will be given coupons. The bigger the purchase,
more number of coupons the person will get and thus higher
chance of winning.
•Organize annual contests (national level) where the girl or
female will be given a chance to design the jewelry that she
would want to wear or be gifted
•The best 3 designs will be selected and will be included in
GoldStud’s next collection
•The winners may be gifted the jewelry they designed.
Community Activities
•These are some of the promotional
•Make presence felt during the activities mentioned that shall be used
community activities. •The activities mentioned may be
•During the shopping festivals, fairs
and other such activities, a stall/ shop
modified to suit to the local culture of
will be setup by GoldStud where the the place
jewelry catalogues and non-gold •Also for each town and village, one or
imitation of the designs will be more of the campaigns shall be
displayed to gain consumer attention launched depending upon the
•Use of banners would be made in the demography and culture of the place,
markets and most visited places during
the festive season Here Just Like
budget available, market potential, and
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