Draft
KIDARSONS JEWELLERS
MARKETING PROPOSAL
AKHIL SOOD
01/19/15
Executive Summary
While increasing sales satisfies manufacturer, marketing is meant to satisfy consumers.
Kidarsons Jewellers(KSJ) is a designer and manufacturer of premium gold and diamond jewelry. KSJ makes designs for Necklaces, earrings, bangles and pendants. All products are designed in house. The goal at KSJ is to grow the business in a manageable and controlled manner and improve the brand image of the company. The brand image needs to be synonymous to high quality jewelry. We also need to make sure the company is flexible enough to introduce many more products that are inspired by the design and finesse we stand for. With the changing market, KSJ needs to aim at the growing Internet savvy customer segment that will help the company grow beyond borders.
Market Summary
Diamonds are considered to be one of best mass – market luxury products. In 2005, consumers around the world bough 89 millions piece of diamond jewelry, making diamonds a $68 billion industry. Diamond industry provides work to over 10 million people in the world. United States remains the worlds biggest diamond consumer, but emerging markets like China and India have strong diamond markets. Surat, India produces 90% of polished diamonds to the world.
Total diamond sales in the U.S. have reached $5.5 billion, out of total jewelry sales of $40 billion. This number includes everything from engagement rings, anniversary jewelry, watches, and so on. In the engagement market alone, there are approximately $400 million in diamond sales annually, with 10% of them being distributed through the Internet.
As a diamond jewelry manufacturer, the biggest hurdle facing KSJ is to keep up with fast changes that influence the jewelry market. People’s needs and tastes change constantly and the key to a successful jewelry business is to keep pace with it. As quality and choices increase, so does the effort to attract consumer increase. Today the
MARKETING PROPOSAL
AKHIL SOOD
01/19/15
Executive Summary
While increasing sales satisfies manufacturer, marketing is meant to satisfy consumers.
Kidarsons Jewellers(KSJ) is a designer and manufacturer of premium gold and diamond jewelry. KSJ makes designs for Necklaces, earrings, bangles and pendants. All products are designed in house. The goal at KSJ is to grow the business in a manageable and controlled manner and improve the brand image of the company. The brand image needs to be synonymous to high quality jewelry. We also need to make sure the company is flexible enough to introduce many more products that are inspired by the design and finesse we stand for. With the changing market, KSJ needs to aim at the growing Internet savvy customer segment that will help the company grow beyond borders.
Market Summary
Diamonds are considered to be one of best mass – market luxury products. In 2005, consumers around the world bough 89 millions piece of diamond jewelry, making diamonds a $68 billion industry. Diamond industry provides work to over 10 million people in the world. United States remains the worlds biggest diamond consumer, but emerging markets like China and India have strong diamond markets. Surat, India produces 90% of polished diamonds to the world.
Total diamond sales in the U.S. have reached $5.5 billion, out of total jewelry sales of $40 billion. This number includes everything from engagement rings, anniversary jewelry, watches, and so on. In the engagement market alone, there are approximately $400 million in diamond sales annually, with 10% of them being distributed through the Internet.
As a diamond jewelry manufacturer, the biggest hurdle facing KSJ is to keep up with fast changes that influence the jewelry market. People’s needs and tastes change constantly and the key to a successful jewelry business is to keep pace with it. As quality and choices increase, so does the effort to attract consumer increase. Today the
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